ECON30130 Econometrics: Applying Statistics to Economic Data

Academic Year 2022/2023

Econometrics is the essential statistical toolbox for economists. Much of economic research, and many jobs in industry and government, require economists to analyse data. The purpose of this course is to teach students the basic concepts of econometrics. We will introduce linear regression, which is arguably the most important tool in econometrics, and learn how this tool can be used to quantify all sorts of economic relationships. The course gives students a solid theoretical foundation and teaches them how to apply the methods in their own work.

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Curricular information is subject to change

Learning Outcomes:

Upon successful completion of the course, a student will have the ability to perform linear regression; to formally test statistical hypotheses and to evaluate empirical economic research. In addition, they will have an appreciation of the strength and weaknesses of econometrics and its use in the evaluation of competing economic theories and alternative policies.

Indicative Module Content:

Core topics:

1) Statistics refresher
2) Linear regression with one regressor
3) Linear regression with multiple regressors
4) Non-linear models

Advanced topics (time permitting)
- Binary dependent variables
- Introduction to causal inference
- Introduction to predictions

Student Effort Hours: 
Student Effort Type Hours
Autonomous Student Learning

75

Lectures

22

Computer Aided Lab

10

Total

107

Approaches to Teaching and Learning:
We will have two lectures per week where we will learn the theory behind econometric analysis.
In weekly computer labs, students learn to apply the theory to data using the statistical software R.
 
Requirements, Exclusions and Recommendations
Learning Requirements:

Students are required to have completed ECON 20040 Statistics for Economists, MIS 10010
Quantitative Analysis for Business, or an equivalent module on Basic Statistics and Probability.

Learning Recommendations:

It is recommended that students have an understanding of the basic Principles of Microeconomics and Principles of Macroeconomics such as ECON 10010 & ECON 10020


Module Requisites and Incompatibles
Incompatibles:
ECON42470 - Econometrics HDip


 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Assignment: This assignment will require students to analyse particular datasets using R & answer a number of questions based on the results. Students may work in groups of up to three (3) people. Week 7 n/a Graded No

30

Examination: Final exam 2 hour End of Trimester Exam No Graded No

70


Carry forward of passed components
Yes
 
Remediation Type Remediation Timing
Repeat Within Two Trimesters
Please see Student Jargon Buster for more information about remediation types and timing. 
Feedback Strategy/Strategies

• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Advice will be provided to the class on what made for good and not-so-good projects/assignments with relevant examples.

The main textbook is

James H. Stock & Mark W. Watson, Introduction to Econometrics, published by Pearson. The book is currently in its 4th edition; previous editions are fine.
Name Role
Francesca Eustacchi Tutor
Olivia Finan Tutor
Himani Pasricha Tutor
Giacomo lo Conte Tutor
Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
 
Autumn
     
Lecture Offering 1 Week(s) - 1, 2, 3, 4, 5, 6, 7, 9, 10, 11, 12 Thurs 16:00 - 16:50
Lecture Offering 1 Week(s) - 1, 2, 3, 4, 5, 6, 7, 9, 10, 11, 12 Tues 15:00 - 15:50
Computer Aided Lab Offering 6 Week(s) - 1, 2, 3, 4, 5, 6, 7, 9, 10, 11, 12 Tues 17:00 - 17:50
Computer Aided Lab Offering 12 Week(s) - 1, 2, 3, 4, 5, 6, 7, 9, 10, 11, 12 Fri 13:00 - 13:50
Computer Aided Lab Offering 13 Week(s) - 1, 2, 3, 4, 5, 6, 7, 9, 10, 11, 12 Thurs 17:00 - 17:50
Computer Aided Lab Offering 14 Week(s) - 1, 2, 3, 4, 5, 6, 7, 9, 10, 11, 12 Tues 13:00 - 13:50
Autumn
     
Spring
     
Lecture Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Thurs 16:00 - 16:50
Lecture Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Tues 15:00 - 15:50
Computer Aided Lab Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Wed 18:00 - 18:50
Computer Aided Lab Offering 2 Week(s) - 20, 21, 22, 23, 24, 26, 29, 30, 31, 32, 33 Thurs 17:00 - 17:50
Computer Aided Lab Offering 3 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Thurs 18:00 - 18:50
Computer Aided Lab Offering 4 Week(s) - 32 Mon 17:00 - 17:50
Computer Aided Lab Offering 4 Week(s) - 25 Thurs 16:00 - 16:50
Spring