Unit name | Quantitative Methods for Economics, Finance and Management |
---|---|
Unit code | ECONM1012 |
Credit points | 15 |
Level of study | M/7 |
Teaching block(s) |
Teaching Block 2 (weeks 13 - 24) |
Unit director | Dr. Crespo |
Open unit status | Not open |
Pre-requisites |
None |
Co-requisites |
None |
School/department | School of Economics |
Faculty | Faculty of Social Sciences and Law |
An introduction to quantitative methods for economics, finance and management including statistics and econometrics. The first part of the course concentrates on basic statistical techniques which are required for the study of econometrics in the second part of the course. Although a number of key theoretical concepts are introduced, the emphasis is on applying statistical and econometric techniques to applied problems in economics, finance and management.
Unit aims:
At the end of the unit:
1) Students will be able to explain, discuss and use fundamental ideas in statistics; expectations, moments, uni and bi-variate distributions and estimation and hypothesis testing.
2) Students will be able to explain and discuss the appropriate application of the most widely-used econometric tools such as OLS; to be able to interpret econometric models; and to interpret simple estimation and hypothesis testing procedures, all using STATA.
3) Students will be able to critically engage with texts and journal articles which involve econometric work and recognise the problems which researchers are faced with when dealing with real data.
16 hours of lectures (whole-group sessions to introduce material)
4 exercise lectures (whole-group sessions to consolidate material and provide feedback on exercises)
4 classes (small-group sessions)
In a typical week there will be three hours of large-group teaching and one hour of small-group teaching
Summative assessment
21/2 (two-and-a-half) hour closed book exam.
The exam will contain a mixture of questions, with students required to answer some from each type. Questions are typicaly long multi-part questions, with different parts of a questions assessing different ILOs:
A small amount of the material involves basic problem-solving or simple interpretation and can be assessed by multiple choice questions and we may use MCQs to assess up to 25% of the marks.
Formative assessment
Pencil-and-paper exercises (some of which will be marked by class tutors and returned with feedback)
Supplemented by Electronic assessment to test basic skills.