| Unit name | Econometrics |
|---|---|
| Unit code | ECONM0039 |
| Credit points | 20 |
| Level of study | M/7 |
| Teaching block(s) |
Teaching Block 1 (weeks 1 - 12) |
| Unit director | Dr. David Pacini |
| Open unit status | Not open |
| Units you must take before you take this one (pre-requisite units) |
None |
| Units you must take alongside this one (co-requisite units) |
None |
| Units you may not take alongside this one |
None |
| School/department | School of Economics |
| Faculty | Faculty of Social Sciences and Law |
Why is this unit important?
Conducting meaningful economic analysis requires creating knowledge from data. Econometrics is the discipline that supplies methods for creating knowledge from data. This unit is mandatory because empirical microeconomic and macroeconomic analyses rely on econometric methods. At the same time, economic theory informs, and it is informed by, knowledge created using econometric methods. With data availability increasing every day, econometric methods paired with statistical programming are a powerful tool for understanding the world beyond our immediate experiences and intuitions.
How does this unit fit into your programme of study
Microeconomics and macroeconomics are the pillars of economic analysis. This unit provides students with elementary understanding and essential knowledge of econometric methods and statistical programming for informing economic analysis. The units that follow in the second term as well as the dissertation will build and expand on this knowledge.
An overview of content
This unit offers exposure to elementary methods for creating knowledge from data that is relevant to inform economic analysis. Methods include regression analysis, estimation by the least squares principle, and statistical inference.
How will students, personally, be different as a result of the unit
Students will understand essential econometric methods and be able to implement them in practice. They will also be able to describe important features of examples of applied econometric analysis.
Learning Outcomes
Teaching will be delivered through lectures, exercise sessions, tutorials, and lab sessions combined with online resources. Lectures will introduce students to econometric concepts and methods. Lab sessions will take an interactive and problem-based format. Students will learn to use statistical programming to implement important econometric methods in practice.
Tasks which help you learn and prepare you for summative tasks (formative):
The unit offers two problem sets as formative assessments to monitor the learning process and to offer feedback that students can use to improve their learning.
Tasks which count towards your unit mark (summative):
Empirical coursework with an econometric data analysis component (no more than 1500 words) (30%). Assesses ILOs 1-4
Written 2-hour exam (70%). Assesses ILOs 1-3.
When assessment does not go to plan
When a student fails the unit and is eligible to resubmit, failed components will be reassessed on a like-for-like basis.
If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.
If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. ECONM0039).
How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours
of study to complete. Your total learning time is made up of contact time, directed learning tasks,
independent learning and assessment activity.
See the University Workload statement relating to this unit for more information.
Assessment
The assessment methods listed in this unit specification are designed to enable students to demonstrate the named learning outcomes (LOs). Where a disability prevents a student from undertaking a specific method of assessment, schools will make reasonable adjustments to support a student to demonstrate the LO by an alternative method or with additional resources.
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit.
The Board considers each student's outcomes across all the units which contribute to each year's programme of study. For appropriate assessments, if you have self-certificated your absence, you will normally be required to complete it the next time it runs (for assessments at the end of TB1 and TB2 this is usually in the next re-assessment period).
The Board of Examiners will take into account any exceptional circumstances and operates
within the Regulations and Code of Practice for Taught Programmes.
