EC204-Introductory Econometrics

Module Provider: School of Politics, Economics and International Relations
Number of credits: 20 [10 ECTS credits]
Terms in which taught: Autumn term module
Pre-requisites: EC115 Introductory Quantitative Methods in Economics and Business 1 and EC120 Introductory Quantitative Methods in Economics and Business 2 and Study Skills or EC115 Introductory Quantitative Methods in Economics and Business 1 and MA1FM Foundations of Mathematics and MA1CA Calculus and MA1LA Linear Algebra or EC105 Introductory Quantitative Techniques and EC109 Mathematics for Economics: Introductory Techniques for BSc
Non-modular pre-requisites:
Modules excluded:
Module version for: 2016/7

Module Convenor: Dr Alessandra Ferrari


Summary module description:
This module is primarily designed to give students a general understanding of basic econometrics with an emphasis on the interpretation of basic linear regression results and their relevance in economic analysis. It is linked closely to EC205, which is a natural follow-on.
The module will also help students understand key elements involved in career development, and help access relevant work experience and internships while at University.

Introductory Econometrics
The module aims to introduce students to the empirical analysis of economic models.

Career Development
In addition this module aims to provide students with the opportunity to develop self-awareness in the context of career decision making, knowledge of the career opportunities that are available to them and the skills to make effective applications for both work experience opportunities and in the longer term graduate opportunities.

Assessable learning outcomes:
Introductory Econometrics
At the end of the module students should be able to:
interpret parameter estimates;
conduct simple hypothesis tests and be able to use probability tables;
have a general understanding of the main assumptions that underlie the application of statistics to economic problems;
evaluate the basic quality of an estimated model.

Career Development
At the end of the module students will be able to:
• identify, assess and articulate their skills, interests, values and personality traits in the context of career decision making.
• develop careers information retrieval, research and decision making skills, using a variety of sources including the Internet and interviews.
• recognise and be able to write an effective CV; identify the purpose and processes of recruitment interviews and how to perform effectively.

Additional outcomes:
Introductory Econometrics
Ability to link and critically assess the quality of theoretical and empirical economic models.
Computing skills.
Familiarity with the specialist econometric software STATA.

Career Development
Students will develop business awareness through understanding broad trends in the graduate labour market and the personal attributes and achievements that employers require. Students will gain a good understanding of where to find and apply for appropriate work experience opportunities.

Outline content:
Introductory Econometrics
The Classical Normal Linear Regression model: Regression as description. A framework for inference. Confidence levels and hypothesis tests. The multiple linear regression model. The F-test. Dummy variables. Departures from main assumptions.

Career Development
The module consists of three taught sessions, supported by extensive on line materials and two short written assignments. Together these elements provide students with (a) the tools to make relevant career choices, (b) an understanding of both graduate and internship/work experience opportunities that exist for Economics students and (c) how to produce an effective CV.

Global context:
This module is compulsory for all single honours Economics degree programmes.

Brief description of teaching and learning methods:
Introductory Econometrics
Lectures will be used for the exposition of the principal concepts, principles and techniques as well as their practical implementation via exercises and regression output analysis. Classes will concentrate further on solving exercises which students are expected to attempt beforehand. The module will make use of IT in tutorials and Blackboard.

Career Development
There will be lecture sessions, some involving a high level of student participation and a session where students can meet recent graduates and employer representatives that reflect job areas typically pursued by Economics students.

Contact hours:
  Autumn Spring Summer
Lectures 23 2
Tutorials 5
Practicals classes and workshops 3
Guided independent study 151 16
Total hours by term 182.00 18.00
Total hours for module 200.00

Summative Assessment Methods:
Method Percentage
Written exam 60
Project output other than dissertation 20
Class test administered by School 20

Other information on summative assessment:
Introductory Econometrics
Assessment will be a mid-term test with a weight of 20% and a project with a weight of 20%.

Career Development
There will be one piece of coursework which will be marked on a Pass/Fail basis. This will involve developing a CV and covering application letter which must be targeted towards an appropriate work experience opportunity. Successful completion of this coursework is a compulsory requirement and students failing to submit or pass this piece of work will be penalised by a deduction of 25% of their overall mark for this module.

Formative assessment methods:
Use of revision exercises; class work set for tutorials.

Penalties for late submission:
The Module Convenor will apply the following penalties for work submitted late, in accordance with the University policy.

  • where the piece of work is submitted up to one calendar week after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for the piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
  • where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

  • The University policy statement on penalties for late submission can be found at:
    You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

    Length of examination:
    One 3-hour unseen written paper. The examination covers Introductory Econometrics topics only.
    Part 2 examinations are held in the Summer term.

    Requirements for a pass:
    A minimum overall mark of 40%.

    Reassessment arrangements:
    Re-examination for all modules takes place in August/September of the same year.

    Re-assessment for Introductory Econometrics is by examination only; coursework is not included at the second attempt.

    Reassessment of the Career Development assignment is by resubmission in the first week of the Summer term (before the Part 2 examinations commence).

    Additional Costs (specified where applicable):

    Last updated: 21 December 2016

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