Unit information: Econometrics 1 in 2020/21

Unit name	Econometrics 1
Unit code	EFIM20011
Credit points	20
Level of study	I/5
Teaching block(s)	Teaching Block 1 (weeks 1 - 12)
Unit director	Dr. Polisson
Open unit status	Not open
Pre-requisites	EFIM10023 Mathematics for Economics AND EFIM10024 Probability, Statistics and Econometrics OR MATH10013 Probability and Statistics
Co-requisites	None
School/department	School of Economics
Faculty	Faculty of Social Sciences and Law

Description including Unit Aims

After a refresher in probability and statistics, this course will be split into two main sections. First, we will study tools to conduct a descriptive analysis and describe the statistical relationship between variables in the data. These methods will revolve around the OLS estimator.

In the second part of the course, we will learn how to conduct a causal analysis. We will introduce and study the IV estimator and then discuss general evaluation problems in experimental and non-experimental settings.

Intended Learning Outcomes

At the end of the unit students will show:

1. a good understanding of the OLS regression methodology (what it does, its strengths and weaknesses, how to use it to test economic hypotheses);
2. a good understanding of IV and more general evaluation methods;
3. The ability to perform and interpret econometric analysis using a statistical software package.
4. the ability to read and interpret economics articles which use standard econometric methods.

Teaching Information

Teaching will be delivered through a combination of synchronous and asynchronous sessions such as online teaching for large and small group, face-to-face small group classes (where possible) and interactive learning activities

Assessment Information

MCQs (best 2 out of 3) (20%)

2 tutorial assessments (20%)

Examination (1.5 hour) (60%)

Formative: Students must submit credible attempts at least 3 out of 5 formative assessments for Credit Points to be awarded.

Reading and References

Introduction to Econometrics by J. Stock and M. Watson.

Introduction to Econometrics by J. Wooldridge.