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BAEcon Economics and Philosophy / Course details
Year of entry: 2022
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Course unit details:
|Unit level||Level 3|
|Teaching period(s)||Semester 1|
|Available as a free choice unit?||Yes|
|Unit title||Unit code||Requirement type||Description|
To extend the material introduced in Econometrics to; a) cover models used for the analysis of microdata (particularly data with limited dependent responses), and to; b) introduce models for the analysis of macro-economic time series data.
Students should be able to:
i) understand the use of the method of Maximum Likelihood to estimate and test IID econometric models,
ii) extend the range of their microdata modelling capabilities to deal with non-linear, particularly binary, response variables and address,
iii) understand stationary time series processes
iv) formalize the notion of non-stationarity and test for its presence,
v) use VARs to model multivariate time series and understand the idea of Grander Causality and use of Impulse Response Functions.
Part I: Theory and Microdata models
1. Theory: Parametric Maximum Likelihood for IID data.
2. Binary Response Data models
Part II: Time series (Macrodata) models.
3. stationary time series processes
4. Unit roots.
5. Introduction to VARs
Teaching and learning methods
Synchronous activities (such as Lectures or Review and Q&A sessions, and tutorials), and guided self-study
(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).
- Problem solving, Synthesis and analysis of data and information, Numeracy, Time Management. Use of industry standard software.
Two Courseworks on Part I and Part II of the syllabus:
15% Online Coursework 1
15% Online Coursework 2
70% Exam Exact format TBD
The assessment criteria used by Economics in the assessment of examinations and coursework can be found on the UG Intranet in your programme handbook (BSc Economics, BA(ECON)
While there is a core text, other references (journals articles as well as texts) maybe be cited as appropriate.
Verbeek (2017), A Guide to Modern Econometrics. (earlier editions may also be suitable).
|Simon Peters||Unit coordinator|