Introductory Econometrics

Module code: EC2010

Module co-ordinator:  Dr Arek Szydlowski

Econometrics is a powerful tool that can be employed to test economic theories, evaluate public policies or business strategies and forecast future outcomes. In this module you will learn how to analyse economic data using statistical methods.

Econometric techniques have proved very useful in business, allowing companies to evaluate their marketing and sales strategies and providing valuable forecasts for strategic planning. Rigorous data analysis often helps firms to make better-informed decisions and gain a competitive advantage. You will also find a serious amount of econometrics in the back-room of various litigation cases, whether it is assessing damages from harmful business conduct or an attempt to dismiss an anti-trust case.

Econometrics is also used to inform public policy. For example, econometric analysis provided a basis for recommendations formulated in the Mirrlees Review, a document that spurred discussion about the redesign of the UK tax and benefit system.

Topics covered

  • Regression analysis and estimation techniques
  • Assumptions underlying standard estimation techniques
  • Conducting an independent empirical project using an econometric package
  • Interpreting the regression output in a competent and critical way

Learning

  • 20 one-hour lectures
  • 10 one-hour computer labs
  • 2 one-hour tutorials

Assessment

  • Exam, 90 minutes (70%)
  • Coursework (30%)