- Course Code:
- Unit value:
- Year of study:
- Year 3
- Taught in:
- Full Year
This course builds on the second year econometrics course (15 340 0103), which is a prerequisite for the course. The course is designed to provide students with a "hands-on" environment in which they learn how to apply economic theories to real economic data by means of empirical models. It aims at helping students deepen and broaden their knowledge and understanding of econometric techniques needed for empirical quantitative analyses of micro and macro as well as financial data. Various topics in economics and finance are used as case studies to show students how to apply econometrics appropriately to the topics of concern. Examples of the topics are: CAPM (Capital Asset Pricing Model), production function, elasticity of demand and the Phillips curve. Students are therefore expected to be able to apply what they have learnt from various economics courses to the data experiments to be carried out during the course.
The course also aims to develop the students' abilities not only in data collection and in literature search but also in critical evaluation of what is taught in textbooks.
The course is taught in a computer lab with a two-hour lecture and a one-hour tutorial per week. Main software – PcGive, an econometrics programme in OxMetrix.
More detailed course information is provided in the course website, which is accessible for all the registered students.
Objectives and learning outcomes of the course
The course objectives are:
- To deepen and broaden students' knowledge and understanding of material needed for empirical quantitative analysis of micro and macro data relevant to development issues, building on the material covered in the second year intermediate econometrics course
- To cover the theory and practice of modern econometrics at a level appropriate for an economics graduate, emphasising application
- To teach the students the habit of thought, knowledge and understanding to be able to carry out good quality applied economic research with confidence
- To develop the critical insight to appraise econometric results obtained by other researchers
- The course is application oriented. Accordingly, the emphasis will be on application of techniques for policy analysis and will not be overly concerned with mathematical proofs. The course also aims to provide students with the ability to use econometric software in an effective manner
By the end of the course the students will have developed the necessary skills needed for empirical research using modern econometrics techniques. Through their computer based assignments they will be also trained in conducting research using primary data. The students will also deepen their other transferable skills such as written communication, teamwork, numeracy, computer literacy, problem solving and analytical skills.
Method of assessment
Assessment weighting: (a) Course work 30% (2 essays each of 15%); (b) Tutorial participation (10%) - for weekly assigned homework tasks (5% for each term); (c) One research project with a mini viva attached (60%). All Course work is resubmittable.
Submission of Coursework
All students are required to submit all elements of assessment to pass a course, and are required to submit all coursework as a pre-condition of exam entry. The Associate Dean (Learning and Teaching) may, at the request of the Head of Department, withdraw permission to take exams or terminate degree registration if you persistently fail to submit coursework without good cause.
Deadlines for course-work essays are set prior to the commencement of the academic year by the course teacher or (where more than one teacher is involved in a course) the course convenor. The final deadline will not be later than the School's final deadline and will generally be earlier. Students will be informed of these deadlines at the beginning of the course - these can be confirmed on BLE or from the Faculty Office.
Coursework must be manually submitted to your Faculty Office. Please see below for our manual submission procedure.
Manual course work submission
Two copies of every assessed essay must be submitted by students to the Faculty Office, room R201 before 4.00pm on the due date. You should aim to submit coursework at least an hour before the deadline. Students must see that the date of their essay submission is recorded on their receipt. Students who submit their essays on time are entitled to receive one copy of each essay back with comments and a provisional mark within at most three weeks in term time. One copy will be retained by the Faculty Office (together with a copy of the general comments and allocated mark) so that it is available at the time of the examination.
Please see below for the standard cover sheet that must be submitted with your coursework:
When submitting course work students must ensure that the cover sheet has the following information at the top right-hand corner:
- Name of student in full
- ID number
- Name of course
- Code of course
- Assignment number e.g. 1 for first assignment, 2 for second assignment – etc.
- Date of deadline, which is given out at the start of term with the course outlines
Students should aim to submit coursework at least an hour before the deadline. Students must see that the date of their essay submission is recorded on their receipt. Students who submit their essays on time are entitled to receive one copy of each essay back with comments and a provisional mark within at most three weeks in term time.
For information regarding the late submission of coursework and resubmission of failed coursework process please refer to the Undergraduate Student Information Guide
There are no core textbooks. Students may use their econometrics textbooks from Econometrics as the main technical manuals. There is a rich online source at Economics Network.
Textbook Used for Case Studies
- E.R. Berndt, The Practice of Econometrics, Addison-Wesley, 1990
- Angrist J and Pischke J - S, Mostly Harmless Econometrics. Princeton Press, 2009