EC452-7-AU-CO:
Introductory Econometrics

The details
2024/25
Economics
Colchester Campus
Autumn
Postgraduate: Level 7
Current
Thursday 03 October 2024
Friday 13 December 2024
20
20 August 2024

 

Requisites for this module
(none)
(none)
(none)
(none)

 

EC963

Key module for

MA L10012 Economics,
MA L100EB Economics,
MA L11312 Financial Economics,
MA L16112 International Economics,
MA L10512 Management Economics,
MSC L16512 Quantitative International Development,
MA L14312 Economics with Public Policy

Module description

This module provides an introduction to the econometric methods commonly used to analyse economic data. The focus of the module is on linear regression and the ordinary least squares (OLS) estimation procedure. This is introduced after a review of basic probability, random variables, simple descriptive statistics and the concept of hypothesis testing.


Students will then be taught about how t-tests and F-tests can be used to make inferences about the estimated parameters in economic models and what diagnostic tests are available to test some of the assumptions of the regression model. The module then moves on to consider further model specification and data issues as well as the concept of heteroskedasticity before concluding with methods appropriate for the analysis of time series data. The methods will be illustrated throughout using the R software package with real-world economic data.

Module aims

The aims of this module are:



  • To carry out simple statistical and econometric calculations and understand how these methods are used with real data.

  • To understand and assess critically empirical findings reported in the applied economics literature.

  • To use the linear regression model and econometric methods developed for it to conduct a simple econometric investigation of an empirical issue of interest.

  • To develop problem-solving analytical and deductive skills.

Module learning outcomes

By the end of this module, students will be expected to be able to:



  1. Apply econometric methods to real world data and perform statistical and econometric analysis.

  2. Perform and understand econometric tests and Statistical inference.

  3. Understand and critically assess empirical economic findings.

  4. Formulate coherent written statistical analyses and assessments of the subject in the preparation of an assignment and in more concise examination answers.

Module information

Syllabus



  • Review of Probability

  • Review of Statistics

  • The Simple Regression Model

  • Multiple Regression Analysis. Estimation

  • Multiple Regression Analysis: Inference

  • Multiple Regression Analysis. Further Inference and Asymptotics

  • Further Specification and Data Issues

  • Heteroskedasticity

  • Regression Analysis with Time Series Data

  • Review and the Econometrics Exercise


Learning and teaching methods

The module will be delivered via:

  • Two lecture hours per week for ten weeks in the Autumn term.

One class hour per week would be held for specific purposes (to provide guidance and support for assignment preparation, problem sets, and discussion of topical issues related to the module's material). Laboratories will also be held as needed to support statistical work.

Bibliography

The above list is indicative of the essential reading for the course.
The library makes provision for all reading list items, with digital provision where possible, and these resources are shared between students.
Further reading can be obtained from this module's reading list.

Assessment items, weightings and deadlines

Coursework / exam Description Deadline Coursework weighting
Coursework   Exercise  17/01/2025   
Exam  Main exam: In-Person, Open Book, 120 minutes during Summer (Main Period) 
Exam  Reassessment Main exam: In-Person, Open Book, 120 minutes during September (Reassessment Period) 

Exam format definitions

  • Remote, open book: Your exam will take place remotely via an online learning platform. You may refer to any physical or electronic materials during the exam.
  • In-person, open book: Your exam will take place on campus under invigilation. You may refer to any physical materials such as paper study notes or a textbook during the exam. Electronic devices may not be used in the exam.
  • In-person, open book (restricted): The exam will take place on campus under invigilation. You may refer only to specific physical materials such as a named textbook during the exam. Permitted materials will be specified by your department. Electronic devices may not be used in the exam.
  • In-person, closed book: The exam will take place on campus under invigilation. You may not refer to any physical materials or electronic devices during the exam. There may be times when a paper dictionary, for example, may be permitted in an otherwise closed book exam. Any exceptions will be specified by your department.

Your department will provide further guidance before your exams.

Overall assessment

Coursework Exam
50% 50%

Reassessment

Coursework Exam
50% 50%
Module supervisor and teaching staff
Prof Marcus Chambers, email: mchamb@essex.ac.uk.
Lectures and Classes: Prof Marcus Chambers / Labs: Mr Mohsen Eshraghi
For further information, send an email message to pgteco@essex.ac.uk.

 

Availability
Yes
No
Yes

External examiner

Miss Maria Kyriacou
Resources
Available via Moodle
Of 24 hours, 24 (100%) hours available to students:
0 hours not recorded due to service coverage or fault;
0 hours not recorded due to opt-out by lecturer(s), module, or event type.

 

Further information
Economics

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