BSc Economics

Year of entry: 2022

Course unit details:
Applied Economics

Unit code ECON10162
Credit rating 10
Unit level Level 1
Teaching period(s) Semester 2
Offered by Economics
Available as a free choice unit? No

Overview

The course will provide an introduction how economists use statistics and econometrics to test and interpret economic theories. The aim is to allow students to perform economic analysis using real-world data and standard statistical packages. This will help prepare students for more advanced courses in econometrics and applied economics.

Pre/co-requisites

Available to BSc Economics students only

Available to BSc Economics students only

Aims

The aim of this module is to introduce students to the tools and techniques used in economics as a practical discipline. The course will provide an introduction to the ways in which economists use statistics and econometrics to test and interpret economic theories. The aim is to allow students to perform economic analysis using real-world data and standard statistical packages. This will help prepare students for more advanced courses in econometrics and applied economics. 

Learning outcomes

Students will learn how to:

  1. Develop empirically testable hypotheses from economic theory.
  2. Manipulate data in order to test interesting economic hypotheses.
  3. Apply basic econometric methods to data.
  4. Interpret empirical results derived from applying econometric methods to data.
  5. Understand some of the limitations and potential pitfalls of empirical work in economics

Students will have experience of using standard statistical computer packages as a research tool. They will have experience of report writing using appropriate information technology.

Syllabus

The course will cover the structure of data, basic statistical methods, Ordinary Least Squares, hypothesis testing and other relevant statistical methods.

A strong emphasis will be placed on the theoretical foundations of applied work and the interpretation that can be given to estimated coefficients.

We will look at issues around various economic topics, such as:

  • Empitical models and Ordinary Least Square Regression
  • Empirical Models of Discrimination
  • Geography and Development
  • Behavioural and Experimental Methods
  • Social Preferences
  • Environmental and Resource Economics
  • Social Inequality (e.g. gender)
  •  

Teaching and learning methods

Online Learning and Guided Self-Study.

Employability skills

Group/team working
Oral communication
Problem solving
Research
Other
Enhances transferable skills including self-management and presentational skills.

Assessment methods

25%      Project: Written project

60%      Exam: Final Exam, short multiple choice questions

15%      Mid-term Exam: multiple choice questions

 

Feedback methods

  • Online quizzes.
  • Tutorials classes.
  • Office hours
  • Revision sessions.
  • Discussion boards.

Recommended reading

The course will primarily draw on "The Art of Statistics: Learning from Data" by David Spiegelhalter.

May also refer to other textbooks, such as:

  • Wooldridge, J.M. (2013) Introductory Econometrics: A Modern Approach (University of Manchester custom edition).

Additional readings will be provided for various topics during the course.

Study hours

Scheduled activity hours
Assessment written exam 3
Lectures 32
Tutorials 9
Independent study hours
Independent study 56

Teaching staff

Staff member Role
Prasenjit Banerjee Unit coordinator

Additional notes

For every 10 course unit credits we expect students to work for around 100 hours. This time generally includes any contact times (online or face to face, recorded and live), but also independent study, work for coursework, and group work. This amount is only a guidance and individual study time will vary.

 

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