Introductory Econometrics

Code

BUSI2001

School

Business

Level

2

Credits

10

Semesters

Spring UK

Summary

This module will provide an introduction to the theory and practice of quantitative economic modelling at a basic level. The theoretical framework will be developed around the classical regression model and its extensions, with theoretical understanding being supplemented with computer-based practical examples of modelling and data analysis.

Target Students

Part I and II Business School students. Students need to be taking or have taken BUSI2010 Quantitative Methods 2A or A Level Maths with statistics (or equivalent) upon receipt of evidence. Also available to Exchange students.

Co-requisites

Modules you must take in the same academic year, or have taken in a previous year, to enrol in this module:

• Quantitative Methods 2A (BUSI2010)
• Quantitative Methods 2A (BUSI2055)
• Quantitative Methods 2A (BUSI2105)

Classes

• Two 1-hour lectures each week for 9 weeks
• One 1-hour computing each week for 5 weeks

Asynchronous activity: 2x 1 hour per week. Asynchronous activity: 2x 1 hour per week. Computer Lab sessions: 5 weekly computer lab sessions, running weeks 25-28 and 33

Assessment

• 20% Test: Five 1-hour Computer Lab Tests
• 80% Exam (2-hour)

Assessed by end of spring semester

Educational Aims

Learning Outcomes

Knowledge and understanding
This module develops a knowledge and understanding of:
•    Relevant quantitative and computing techniques, including mathematical and statistical methods, econometrics and the use of econometric software to estimate models using actual economic data. Economic data and its appreciation.

Professional practical skills
This module develops:
•    Numeracy and quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena
•    Facility with key concepts used in decision-making, including expectations.

Transferable (key) skills
This module develops:
•    Subject specific transferable skills including abstraction, analysis, deduction and problem framing.

Knowledge and understanding (Industrial Economics)
This module develops a knowledge and understanding of:
•    Econometrics, and its use on actual economic, financial or social data, using suitable statistical or econometric software
•    Mathematical methods for economics
•    Statistical methods for economics
•    The nature, sources and uses of quantitative data and an ability to select and apply appropriate methods that economists might use to analyse such data.

Conveners

• Timothy Worrin Jack Bailey