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ES22015: Introduction to econometrics

[Page last updated: 03 June 2024]

Academic Year: 2024/25
Owning Department/School: Department of Economics
Credits: 10 [equivalent to 20 CATS credits]
Notional Study Hours: 200
Level: Intermediate (FHEQ level 5)
Period:
Academic Year
Assessment Summary: CWPI 50%, EXCB 50%
Assessment Detail:
  • Unseen closed book written exam (EXCB 50%)
  • Coursework (CWPI 50%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites: Before taking this module you must ( take ES12009 OR take MA12002 OR take MA12005 ) AND ( take ES12010 OR take MA12003 OR take MA12008 )
Learning Outcomes: At the end of the unit students should be able to:
* Outline core concepts in regression analysis;
* Explain underlying assumptions made for regression results to be valid;
* Undertake regression analysis using statistical software;
* Interpret regression results using a variety of techniques as applied to cross-sectional and time-series data;
* Appraise the adequacy of regression results and formulate appropriate diagnostic procedures when dealing with data;
* Communicate econometric concepts clearly and effectively;
* Plan, manage and reflect on their own learning and practice


Synopsis: Gain knowledge of cross-section and time series econometric methods. Youll build on your statistical hypothesis testing and least-squares regression knowledge from Year 1. Our systematic approach to model building, focuses on formulation and estimation of regression functions, interpretation of results and diagnostic tests to judge reliability. Your understanding of statistical concepts will be furthered in seminars and computer classes, as you develop analytical and applied software skills.

Content: This course provides thorough background to cross-sectional econometrics and an introduction to time-series econometrics. Cross-sectional topics covered:
  • Ordinary Least Squares Regression, its properties and inference - bivariate and multivariate
  • Non-linear regressions
  • OLS diagnostics and bias
  • Introduction to other estimation methods for cross-sectional data sets
Time series topics covered:
  • Characteristics of time series data
  • Autocovariance and autocorrelation functions
  • Stationary processes
  • Diagnostic testing and model selection
  • Nonstationary processes


    • Course availability:

    ES22015 is Compulsory on the following courses:

    Department of Economics
    • UHES-AFB11 : BSc(Hons) Economics with Politics (Year 2)
    • UHES-AKB11 : BSc(Hons) Economics with Politics with professional placement (Year 2)
    • UHES-AKB11 : BSc(Hons) Economics with Politics with professional placement and study abroad (Year 2)
    • UHES-AKB11 : BSc(Hons) Economics with Politics with study abroad (Year 2)

    ES22015 is Optional on the following courses:

    Department of Mathematical Sciences
    • USMA-AFB30 : BSc(Hons) Mathematics (Year 2)
    • USMA-AFB32 : BSc(Hons) Mathematics and Statistics (Year 2)
    • USMA-AKB32 : BSc(Hons) Mathematics and Statistics with professional placement (Year 2)
    • USMA-AKB32 : BSc(Hons) Mathematics and Statistics with study abroad (Year 2)
    • USMA-AFB33 : BSc(Hons) Mathematics, Statistics and Data Science (Year 2)
    • USMA-AKB33 : BSc(Hons) Mathematics, Statistics and Data Science with professional placement (Year 2)
    • USMA-AKB33 : BSc(Hons) Mathematics, Statistics and Data Science with study abroad (Year 2)
    • USMA-AKB30 : BSc(Hons) Mathematics with professional placement (Year 2)
    • USMA-AKB30 : BSc(Hons) Mathematics with study abroad (Year 2)
    • USMA-AFM30 : MMath(Hons) Mathematics (Year 2)
    • USMA-AKM30 : MMath(Hons) Mathematics with professional placement (Year 2)
    • USMA-AKM31 : MMath(Hons) Mathematics with study abroad (Year 2)

    Notes:

    • This unit catalogue is applicable for the 2024/25 academic year only. Students continuing their studies into 2025/26 and beyond should not assume that this unit will be available in future years in the format displayed here for 2024/25.
    • Courses and units are subject to change in accordance with normal University procedures.
    • Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.
    • Find out more about these and other important University terms and conditions here.