Module ECON3011: APPLIED ECONOMETRICS

Department: Business School (Economics and Finance)

ECON3011: APPLIED ECONOMETRICS

Prerequisites

• Economic Principles I: Macroeconomics (ECON2011) and Economic Principles II: Microeconomics (ECON2021) and Intermediate Methods for Economics and Finance (ECON2121) AND EITHER Economic Data Analysis (ECON2061) OR Statistical Concepts (MATH2041)

Corequisites

• None.

Excluded Combination of Modules

• None.

Aims

• To provide you with an understanding of the statistical and other methods of applied econometrics by building on skills and knowledge acquired in Level 2
• To enable you to undertake independent work on a topic in economics or finance using methods of applied econometrics
• To offer you the opportunity to develop some key skills.

Content

• The module will fall into separate components which will illustrate applied econometric techniques, although the same basic principles come into all sections.
• Areas covered will include consumption, macroeconometric models, exchange rates and demand for money.

Learning Outcomes

• Upon completion of the module:
• You will have extended your knowledge and understanding of econometric methods by building on skills and knowledge acquired in Level 2.
• You will be comfortable reading papers in economic and finance journals containing applications of econometric methods.

• Econometrical analysis; statistics; interpretation of data
• You will be able to independently analyse a topic in economics or finance by applying appropriate econometric methods and using appropriate econometric software, and report the findings of your analysis.

• Written Communication - e.g. through writing a clear and detailed report for the summative assessment.
• Planning, Organisation, and Time Management - e.g. observing the strict assignment deadlines and writing up of the formative and summative projects by the deadline.
• Problem Solving and Analysis - e.g. by understanding and applying the analytical and quantitative skills of applied econometrics in undertaking assessed work.
• Initiative - e.g. by searching the relevant literature for a research topic, choosing from a range of techniques the most appropriate for the problem at hand, interpreting results and drawing conclusions.
• Numeracy - e.g. by understanding and applying the core mathematical and statistical skills that underpin econometric analysis.
• Computer Literacy and Information Retrieval – e.g. by using econometric software and by word-processing the summative project.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• Teaching is by lectures and tutorials. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes, and private study. Formative assessment is by means of a written assignment that is related to the material taught in the first term of the course. Summative assessment is by means of another written assignment that is related to the material taught in the entire course. Both assignments require the students to analyse real economic data using the econometric methods that they have learnt in the course and to discuss their analysis and findings in a report.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

One written assignment

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University