Introduction to Econometrics
| Module title | Introduction to Econometrics |
|---|---|
| Module code | BEE1023 |
| Academic year | 2024/5 |
| Credits | 15 |
| Module staff | Dr Amy Binner (Lecturer) Dr Eva Poen (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 11 |
| Number students taking module (anticipated) | 350 |
|---|
Module description
BEE1023 introduces students to the theory and application of econometrics.
This module requires students to have at least a Grade B in A Level Mathematics (or equivalent), OR, for BSc Finance pathway students only, BEA1014
The module is not available to students who have studied MTH1004.
Additional Information:
Employability
The module introduces methods of empirical analysis which are frequently employed in academia and businesses across many disciplines and industries.
Research in Teaching
Students will study and replicate examples from various empirical research projects in economics
Module aims - intentions of the module
BEE1023 aims to familiarise students with bivariate and multivariate linear regression analysis. The contents of this module form the basis for all econometrics teaching in the undergraduate economics programmes.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. select, fit and interpret linear regression models in the context of economic theory;
- 2. demonstrate understanding of estimators, their properties and sampling distributions under standard assumptions;
- 3. perform and interpret hypothesis tests involving single coefficients, a linear combination of coefficients and multiple exclusion restrictions;
- 4. demonstrate understanding of how software is used in econometric analysis.
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 5. demonstrate awareness of the role and contribution that econometric methods make in the understanding of economic models;
- 6. demonstrate awareness of the limitations of econometric methods;
- 7. demonstrate ability to apply mathematical and statistical methods to economic problems;
- 8. develop awareness of common difficulties arising in the analysis of economic data.
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 9. develop data analysis skills and the ability to communicate about numerical evidence.
Syllabus plan
- The Nature of Econometrics
- The Simple Regression Model
- Multiple Regression Analysis: Estimation
- Multiple Regression Analysis: Hypothesis Testing and Confidence Intervals
- Multiple Regression Analysis: Categorical variables and further issues
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 32 | 118 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled Learning and Teaching Activity | 22 | Lectures |
| Scheduled Learning and Teaching Activity | 10 | Tutorials or classes |
| Guided Independent Study | 118 | Reading and preparation for lectures, tutorials and assessments. |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Weekly exercises | 50 minutes | 1-9 | In class |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 10 | 90 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Five online homework quizzes | 10 | approx. 30 minutes each | 1-9 | ELE |
| Mid-term test | 20 | 1 hour | 1-2,4-9 | Final grade & feed back will be posted on ELE |
| Final examination | 70 | 1.5 hours | 1-9 | Final grade & feed back will be posted on ELE |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Five online homework quizzes (10%) | Single online homework quiz (10%) | 1-9 | August/September Reassessment Period |
| Mid-term test (20%) | Examination (1 hour, 20%) | 1-2,4-9 | August/September Reassessment Period |
| Final examination (70%) | Examination (1.5 hours, 70%) | 1-9 | August/September Reassessment Period |
Re-assessment notes
If you pass the module overall, you will not be referred in any component – even if you have not passed one or more individual components.
Indicative learning resources - Basic reading
Mandatory reading: selected chapters of the textbook below
- Wooldridge, J.M. (2020), Introductory Econometrics: A Modern Approach, 7th edition, CENGAGE Learning.
Previous editions of the same textbook may be used.
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | This module requires students to have at least a Grade B in A Level Mathematics (or equivalent), OR, for BSc Finance pathway students only, BEA1014 Statistical Methods for Accounting and Finance This module requires students to have completed one of the following modules prior to starting BEE1023: BEE1022 or BEE1025 or BEA1012 or INT1003. |
| Module co-requisites | Cannot be taken with MTH1004 (non-requisite) Cannot be taken by students enrolled in mathematics degree programmes. |
| NQF level (module) | 4 |
| Available as distance learning? | Yes |
| Origin date | 01/09/2006 |
| Last revision date | 04/12/2024 |
