BSc International Business, Finance and Economics with Industrial/Professional Experience
Year of entry: 2020
Course unit details:
|Unit level||Level 3|
|Teaching period(s)||Semester 1|
|Available as a free choice unit?||No|
|Unit title||Unit code||Requirement type||Description|
To provide students with an advanced understanding of the econometric methods required for empirical work in economics. Students will also learn the theoretical underpinnings required to understand the theoretical and empirical properties of these methods. The methods covered in this unit form the basis for the advanced study of econometrics in more specialist areas.
The course aims to equip students with a number of core competencies including: (i) an awareness of the important differences in econometric approaches for different data types. (ii) further experience in the analysis and use of data and software packages as tools of quantitative and statistical analysis.
An indicative syllabus:
Asymptotic and Testing Theory
Introduction of the main techniques and ideas required to establish parameter properties and establish distributions for test statistics
Time Series elements:
- Univariate, Stationary TS Processes: stationarity; properties of autoregressive moving average (ARMA) processes; autocorrelations; seasonality; lag operator.
- Random Walk and Unit roots: Deterministic and Stochastic Trends, Dickey-Fuller and augmented Dickey-Fuller tests.
- Models for Data: Specifying dynamic models; estimation; diagnostic checking.
- raw and conditional differentials;
- parameter stability tests and Oaxaca’ decomposition;
- understanding interaction effects;
Teaching and learning methods
The material is delivered via the online (Blackboard) provision of material (readings, podcasts, clips) and Lectures.
The learning process of students is supported by tutorials (exercise questions and discussion based questions) and the provision of further online material (such as discussion boards and practice quizzes) as well as office hours by lecturers and tutors.
Knowledge and understanding
- understand the main techniques and results required to obtain distributions of estimators and test statistics
- understand the main tenants of cross-sectional and panel data methods (variable interactions, raw and conditional differentials)
- understand the main features of time-series data (dependence and stationarity properties, apply stationarity tests, ARMA processes)
- ability to make formal arguments regarding the properties of the methods covered in the unit
(i) problem-solving skills; (ii) critically appraise work in the area of applied economics.; (iii) develop a solid intuitive and theoretical grasp of the dangers, pitfalls and problems encountered in doing applied modelling
(i) have practical experience of the application of econometric methods based on practical exercises. (ii) further develop statistical software skills
Transferable skills and personal qualities
(i) select and deploy relevant information; (ii) communicate ideas and arguments in writing; (iii) apply skills of analysis and interpretation; (iv) manage time and work to deadlines; (v) use ICT to locate, analyse, organise and communicate information (e.g. internet, on-line databases, search engines, library catalogues, spreadsheets, specialist statistical software).
10% Mid term
10% Coursework, online
TBC: Possibly Wooldridge or Stock and Watson
Additional reading (book chapters, blogs, journal articles) will be provided through Blackboard
|Independent study hours|
|Simon Peters||Unit coordinator|