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Unit information: Econometrics 1 in 2015/16

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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 Professor. Jolivet
Open unit status Not open
Pre-requisites

Mathematical and Statistical Methods 1 and Mathematical and Statistical Methods 2 or Probability 1 (MATH11300) or Statistics 1 (MATH11400)

Co-requisites

None

School/department School of Economics
Faculty Faculty of Social Sciences and Law

Description

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 read and interpret economics articles which use standard econometric methods.

Teaching details

30 lectures (including exercise lectures and assignment lectures).

8 tutorials.

Assessment Details

Summative Assessment:

This is a three-hour closed book exam.

Formative Assessment:

Prepare questions for tutorials an exercise lectures.

Two assignment lectures (where the assignment is written in the lecture).

Reading and References

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

Introduction to Econometrics by J. Wooldridge.

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