EC252-5-SP-CO: Introduction To Econometric Methods
Essex credit: 15
ECTS credit: 7.5
Available to Study Abroad / Exchange Students: Yes
Full Year Module Available to Study Abroad / Exchange Students for a Single Term: No
Outside Option: Yes
Pre-requisites: EC114 OR BE300 OR MA108
Dr Abhimanyu Gupta
Dr Abhimanyu Gupta
For further information, send an email message to firstname.lastname@example.org.
|Module is taught during the following terms
This module provides an introduction to the econometric methods commonly used to analyse economic data. The focus of the module is on linear regression and the ordinary least squares (OLS) estimation procedure. This is introduced after a review of basic probability, random variables, simple descriptive statistics and the concept of the null hypothesis. Students will then be taught about how t-tests and F-tests can be used to make inferences about the estimated parameters and what diagnostic tests are available to test some of the assumptions of the simple OLS model. Then the module will move onto the question of identification and model specification, the concepts and implications of consistency and efficiency. The module will be taught throughout using the Stata software package and always using economic examples using real data.
Upon successful completion of this module students will have learned how to carry out simple statistical and econometric calculations. In addition they will possess the ability to understand and assess critically empirical findings reported in the applied economics literature. In addition, they should be able to use the linear regression model and the econometric methods developed for the linear regression model in order to conduct a simple econometric investigation of an empirical issue of interest. In completing tests/assignments, students will demonstrate their problem-solving analytical and deductive skills.
This module delivers key employability skills of adoption of new techniques and project management (Career Development), and reflection and evaluation (Personal Development Planning). The key academic skills delivered by the module are detailed in the Key Skills table. See the Departmental web pages at http://www.essex.ac.uk/economics/careers/employ%20skills.aspx.
Learning and Teaching Methods
2 one hour lectures and one class per week in one term
Whichever is the Greater:
EITHER 50 per cent Coursework Mark, 50 per cent Exam Mark
OR 100 per cent Exam Mark
One test and one econometrics exercise
Feedback for this module will occur through class meetings where we will go over the answers to problem sets and where you will be able to ask questions about your own method of solution; answers that will be posted on the website for the module that will give you written guidance on the appropriate method to approach the problems, assignments, and tests; and office hours where any additional questions can be addressed. You should be sure that you use these methods to understand how to improve your own performance. For modules including a term paper, the term paper will be returned with individualised feedback that addresses what the marking criteria are and how you could improve your own work.
Exam Duration and Period
2:00 during Summer Examination period.
Coursework consists of one test and one econometrics exercise
Year 2 Economics students
- Jeffrey M. Wooldridge (2009): 'Introductory Econometrics. A Modern Approach', 4th edition, South-Western.