MA Economics / Course details
Year of entry: 2020
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Course unit details:
|Unit level||FHEQ level 7 – master's degree or fourth year of an integrated master's degree|
|Teaching period(s)||Semester 2|
|Available as a free choice unit?||Yes|
The aims of this course are threefold.
- to introduce students to basic modeling techniques in the analysis of cross-section, panel and time series economic data;
- to provide students with sufficient econometric training to read the applied literature in core journals which use these standard techniques;
- to prepare students for a dissertation topic that analyses either cross-section, panel or time series data using basic econometric techniques.
At the end of the course, students should be able to perform the following tasks.
With cross-section and panel data:
- Interpret the results from regression models involving panel data and instrumental variables;
- understand how to use instrumental variables to account for endogenous regressors;
- understand how to estimate binary response models
- understand how to correct for sample selection using Heckman’s two-step procedure;
- understand how to set up and analyse panel data regression models;
- estimate basic panel data, instrumental variables binary response and sample selection models;
- use the computer package Stata.
With time series data:
- understand the basic concepts of stationary and non-stationary time series;
- understand and apply basic linear models for univariate and multivariate time series;
- understand the concepts of integration and cointegration and how to test for these phenomena in time series;
- use the computer package EViews to analyse time series data.
(Relevant textbook chapters in parentheses; W = Wooldridge; B=Brooks)
Cross-section & panel data
- Instrumental Variables Estimation and Two-Stage Least Squares (W 15)
- Binary response models (W 17.1)
- Sample Selection and Heckman’s Two-Step Procedure (W 9.5, 17.5)
- Panel Data Methods (W 13, 14)
Time series data
- Stationary Time Series – AR(MA) Modelling (B 6)
- Multivariate Modelling – VARs (B 7)
- Regression with time series data (W 11, B5)
- Non-Stationary Time Series – Unit Root Testing and Cointegration (B 8)
Teaching and learning methods
Lectures and tutorials
85% final exam
15% mid term test
The main texts are:
- Wooldridge, J. M., (2013), Introductory Econometrics, South-Western Cengage Learning, Fifth Edition. Please note that other editions of the textbook may be used as well.
Important information: a custom edition of this textbook is available at a lower price at Blackwell’s bookstore. It is sold as:
Econometrics, Custom Edition for The University of Manchester, compiled by Andrews, Becker,
Cortes, Masters, Mazza and Backus. ISBN 978-1-4737-2064-0.
- Brooks, C., (2019), Introductory Econometrics for Finance, 4th Edition, Cambridge UP
An additional source is
- Verbeek, M., (2012), A Guide to Modern Econometrics, 4th Edition, Wiley
|Scheduled activity hours|
|Independent study hours|
|Alastair Hall||Unit coordinator|
|Arthur Sinko||Unit coordinator|
Lecture - Tuesday 11am - 1pm,
Tutorial - (T1) Tuesday 2pm-3pm,
Tutorial - (T2) Tuesday 3pm-4pm,
Tutorial - (T3) Friday 11am-12pm,,