The aim of the module is to provide students with the theoretical and empirical tools to conduct rigorous applied microeconomics research. The course builds on the structural empirical methods learnt in the second year, expanding knowledge of limited dependent variable methods and panel data models. It also provides an introduction to programme evaluation techniques, exploring ways in which researchers can identiy causal relationships. This module will be particularly valuable to students interested in conducting applied economics research as part of their final year dissertation or in their future careers.
Principal Learning Outcomes
By the end of the module the student should:
Understand the difference between correlation and causation;
Be able to analyse different types of microeconomic data using empirical techniques designed to produce causal estimates;
Be able to interpret the results of such analyses;
Understand the features of a robust evaluation and be able to critically assess empirical papers;
Be equipped to tackle advanced microeconometric modules at postgraduate level.
The module will typically cover the following topics: Introduction to correlation vs. causation; OLS and propensity score matching; introduction to dealing with unobservable characteristics; randomised control trials; instrumental variables;regression discontinuity design; difference-in-differences; static and dynamic linear panel data methods; introduction to maximum likelihood estimation; binary choice models; discrete choice models.
- Pre or Co-requisites
- EC203 or EC226 or ST218 (part A) + ST219 (part B)
- Not available to non-final year students on Economics-based degrees.
- Part-year Availability for Visiting Students
- Available in the Autumn term only (1 x 1500 word essay - 12 CATS)
- Assessment Method
- Coursework (30%) + 2 hour exam (70%)
- Coursework Details
- One assignment (1500-word) (30%)
- Exam Timing
Time Allowed: 2 hours
Answer ALL SIX questions in Section A (72 marks) and ONE question in Section B (28 marks). Answer Section A questions in one booklet and Section B questions in a separate booklet.
Approved pocket calculators are allowed.
Read carefully the instructions on the answer book provided and make sure that the particulars required are entered on each answer book. If you answer more questions than are required and do not indicate which answers should be ignored, we will mark the requisite number of answers in the order in which they appear in the answer book(s): answers beyond that number will not be considered.
Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.