Applied Econometrics for Cross-section Data Analyses
- Module Code:
- Module Not Running 2020/2021
- FHEQ Level:
- Year of study:
- Final Year
- Taught in:
- Term 2
This course builds technically on the second-year course Econometrics (15 340 0103), the prerequisite for this course. It also builds conceptually on the core course: Microeconomic Analysis. The course is designed to provide students with a "hands-on" environment. It aims at helping students deepen and broaden their knowledge and understanding of econometric techniques needed for empirical analyses of time-seires data for macro and also financial modelling research. In addition, the course also aims to develop students' abilities in critical evaluation of what is taught in econometrics textbooks.
153400123 Microeconomic Analysis
Objectives and learning outcomes of the module
LO1. By the end of the course the students will have developed the necessary skills needed for empirical research using econometrics techniques. Through their computer based assignments they will be also trained in conducting research using secondary data. The students will also deepen their other transferable skills such as written communication, teamwork, numeracy, computer literacy, problem solving and analytical skills.
Two hour lectures with a one hour workshop each week.
Scope and syllabus
Main econometric techniques: Regression analyses, residual diagnostic tests, multicollinearity and omitted variable bias (confounding), classification and limited dependent variable model methods, model selection and cross validation; main economic modelling topics: consumer demand choices, labour supply decision and wage elasticity estimation.
Method of assessment
One 3,000 word essay (100% of total mark for the module) due Term 3.
Standard textbooks of econometrics and microeconomics:
Berndt, The Practice of Econometrics, Addison-Wesley. 1990
Peter Kennedy, A guide to Econometrics, 6E, 2008