# BAEcon Economics and Philosophy / Course details

Year of entry: 2023

Unit code ECON31031 20 Level 3 Semester 1 Yes

### Pre/co-requisites

Unit title Unit code Requirement type Description
Econometrics ECON20110 Pre-Requisite Compulsory
ECON20110 Econometrics

ECON20110

### Aims

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.

### Learning outcomes

Students should be able to:

1. understand the use of the method of Maximum Likelihood to estimate and test IID econometric models,
2. extend the range of their microdata modelling capabilities to deal with non-linear, particularly binary, response variables,
3. understand stationary time series processes
4. formalize the notion of non-stationarity and test for its presence,
5. use VARs to model multivariate time series.

### Syllabus

Part I: Theory and Microdata models

1. Theory: Parametric Maximum Likelihood for IID data.

2. Binary Response Data models

Software: R

Part II: Time series (Macrodata) models.

3. stationary time series processes

4. Unit roots.

5. Introduction to VARs Software: R

### Teaching and learning methods

Synchronous activities (such as Lectures or Review and Q&A sessions, and tutorials), and guided self-study

### Intellectual skills

(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

### Practical skills

(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).

### Employability skills

Other
Problem solving, Synthesis and analysis of data and information, Numeracy, Time Management. Use of industry standard software.

### Assessment methods

Two Courseworks on Part I and Part II of the syllabus:

15% Online Coursework 1 (500 words)

15% Online Coursework 2 (500 words)

Final Assessment/Exam:

70% Exam

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.

Core text:

Verbeek (2017), A Guide to Modern Econometrics. (earlier editions may also be suitable).

### Teaching staff

Staff member Role
Simon Peters Unit coordinator