ECON30130 Econometrics: Applying Statistics to Economic Data

Academic Year 2023/2024

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


Computer Aided Lab


Autonomous Student Learning




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
ECON42470 - Econometrics HDip

Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade In Module Component Repeat Offered
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


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



Carry forward of passed components
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
Ms Manvi Jindal Tutor