Unit information: Econometrics in 2022/23

Unit name	Econometrics
Unit code	ECONM1022
Credit points	15
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

Unit Information

The course is divided into two parts. The first part will cover the linear regression model with one regressor, the linear regression model with multiple regressors, hypothesis testing, confidence intervals and ways to assess the internal and external validity of studies based on multiple regression. This part will also introduce asymptotic analysis, heteroskedasticity, and several potential sources of biases and inconsistency in OLS estimation. The second half of the course will investigate more advanced methods of estimation such as generalised least squares (GLS) and instrumental variables (IV) methods before examining the methods and properties of maximum likelihood estimation and related test statistics.

Aims:

To give students a thorough understanding of econometrics, in particular OLS and its extensions to GLS and IV.

Your learning on this unit

At the end of this unit students will be able to:

1. Demonstrate understanding of the advantages and limitations of alternative methods for defining, estimating, and making inference on unknown parameters of interest from cross-sectional, time series, and panel data.
2. Demonstrate an ability to testing hypotheses by examining restrictions placed on models by theory.
3. Use and critically evaluate the results of general statistical tools with competence and confidence to approximate quantities of interest arising in economic and finance applications.

How you will learn

Teaching will be delivered through a combination of large and small group classes, supported by online resources

How you will be assessed

Tasks which help you learn and prepare you for summative tasks (formative):

Two formative assessments:

• First formative assessment is a problem set covering ILOs 1, 2 and 3 for cross sections.
• Second formative assessment is a problem set covering ILOs 1, 2 and 3 for panel data.

Tasks which count towards your unit mark (summative):

Exam, 3 hours. Worth 100% of unit mark. Assesses ILOs 1-3.

When assessment does not go to plan:

Exam, 3 hours. Assesses ILOs 1-3.

Resources

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. ECONM1022).

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 Faculty workload statement relating to this unit for more information.

Assessment
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. If you have self-certificated your absence from an assessment, you will normally be required to complete it the next time it runs (this is usually in the next assessment period).
The Board of Examiners will take into account any extenuating circumstances and operates within the Regulations and Code of Practice for Taught Programmes.