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Durham University

Faculty Handbook 2022-2023

Module Description

Please ensure you check the module availability box for each module outline, as not all modules will run each academic year.

Department: Economics and Finance

ECON3011: APPLIED ECONOMETRICS

Type Open Level 3 Credits 20 Availability Available in 2022/23 Module Cap Location Durham

Prerequisites

  • • Microeconomics (ECON2021) AND Macroeconomics (ECON2011) AND Economic Data Analysis (ECON2061) OR Economic Theory (ECON****) AND Economic Data Analysis (ECON2061)

Corequisites

  • None.

Excluded Combination of Modules

  • None.

Aims

  • To provide you with an understanding of econometric and statistical methods for analysing time series and panel data by building on skills and knowledge acquired at Level 2.
  • To enable you to undertake independent work on a topic in economics or finance using econometrics methods.
  • To offer you the opportunity to develop some key skills.

Content

  • The module will fall into separate components which will explain and illustrate econometric techniques, although the same basic principles come into all sections.
  • Areas covered will include consumption, macroeconometric models, exchange rates and demand for money.

Learning Outcomes

Subject-specific Knowledge:
  • Upon completion of the module:
  • You will have extended your knowledge and understanding of econometric methods by building on skills and knowledge acquired in Level 2.
  • You will be able to independently analyse a topic in economics or finance by applying appropriate quantitative techniques.
  • You will be able to build on the methods explored in Year 2, using new methods like panel data analysis, limited dependent variables, higher moments, multivariate and uni-variate time series methods, including volatility modelling.
  • You will learn how to use using appropriate econometric software (like Stata, R etc ). Report and interpret the findings of your results.
Subject-specific Skills:
  • Econometric analysis; statistics; interpretation of data
  • You will be able to independently analyse a topic in economics or finance by applying appropriate quantiatative methods and using appropriate econometric software, and report the findings of your analysis.
Key Skills:
  • Written Communication - e.g. through writing a clear and detailed report for the summative assessment.
  • Planning, Organisation, and Time Management - e.g. observing the strict assignment deadlines and writing up of the formative and summative projects by the deadline.
  • Problem Solving and Analysis - e.g. by understanding and applying the analytical and quantitative skills of applied econometrics in undertaking assessed work.
  • Initiative - e.g. by searching the relevant literature for a research topic, choosing from a range of techniques the most appropriate for the problem at hand, interpreting results and drawing conclusions.
  • Numeracy - e.g. by understanding and applying the core mathematical and statistical skills that underpin econometric analysis.
  • Computer Literacy and Information Retrieval – e.g. by using econometric software and by word-processing the summative project.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • Teaching is by lectures and seminars. Learning takes place through attendance at lectures, preparation for and participation in seminars, and private study.
  • Formative assessment is by means of a written assignment that is related to the material taught in the first term of the course.
  • Summative assessment is by means of a written assignment that is related to the material taught in the entire course. The assignment requires the students to analyse real economic data using the econometric methods that they have learnt in the course and to discuss their analysis and findings in a report.

Teaching Methods and Learning Hours

Activity Number Frequency Duration Total/Hours
Lectures 20 1 per week 1 hour 20
Revision Lectures 2 1 per week in term 3 1 hour 2
Seminars 12 6 per term 1 hour 12
Preparation and Reading 166
Total 200

Summative Assessment

Component: Assignment Component Weighting: 100%
Element Length / duration Element Weighting Resit Opportunity
One written assignment 6000 words max 100%

Formative Assessment:

One written assignment of 1500 words


Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University



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