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EC907: Quantitative Methods: Econometrics A (for MSc Behavioural and Economic Science - Economics Track)

  • Mirko Draca

    Module Leader
30 CATS - Department of Economics
Autumn Module

Principal Aims

The aim of the module is to give students a good grounding in maths, statistics and modern econometric techniques. Within the econometrics element students will study the ways in which the techniques are applied in the empirical analysis of economic data. This module concentrates on the development of these key and fundamental professional skills. The module covers the analysis of cross-section and limited dependent variable data (but does not cover the analysis of time-series data).

Principal Learning Outcomes

By the end of the module the student should be able to: demonstrate an understanding of fundamental concepts in mathematics and statistics relevant to the other core modules and be able to apply these concepts to economics; demonstrate an understanding of material needed for empirical quantitative analysis; demonstrate knowledge of the theory and practice of modern econometrics, particularly applied econometrics; demonstrate the development of the habit of thought, knowledge and understanding to be able to carry out applied econometric research; develop the critical insight to appraise econometric results obtained by other researchers.

Syllabus

Pre-sessional Introductory Mathematics and Statistics: topics covered will typically include linear algebra, multivariate calculus and constrained optimisation, differential and difference equations, basic probability theory and hypothesis testing.

Econometrics: topics covered will include Linear Regression Model (LRM), Maximum Likelihood Estimation (MLE), hypothesis testing, model diagnostics, limited dependent variable models, measurement error, simultaneity bias, endogeneity, instrumental variables, and Generalised Method of Moments (GMM).

Context

Optional Core Module
C8P8 - Year 1
Pre or Co-requisites
Technical prerequisites (besides a first degree in economics) are elementary probability and statistics, mathematics for economists and algebraic facility.

Assessment

Assessment Method
Coursework (25%) + 2 hour exam (75%)
Coursework Details
1 x 1 hour test (10%) and 1 x 2 hour test (15%) on pre-sessional Introductory Mathematics and Statistics
Exam Timing
May

Exam Rubric

Time Allowed: 2 Hours.

Answer TWO questions from Section A (20 marks each) and TWO questions from Section B (30 marks each). Answer Section A questions in one booklet and Section B questions in a separate booklet.

Approved pocket calculators are allowed. Statistical Tables are provided.

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.

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