EC835 Quantitative Methods for Economists
OverviewThe ability to apply econometric methods is an essential part of modern postgraduate degree training in economics. This module contributes to the achievement of these subject specific skills by providing an introduction to common issues and related econometric techniques relevant to the empirical evaluation and analysis of data pertinent to the fields of international business and economic development.
The module is approached in a practical way that focuses on the application and interpretation of econometric techniques to business and economic data, with less emphasis on the statistical theory aspects of the subject. This approach ensures that students gain knowledge and experience in using suitable computer software to undertake business and economic research, and to understand empirical relationships which occur in other MSc modules and which they will investigate in their research dissertation.
This module appears in:
11 one-hour lecture/seminars, 11 two-hour PC classes
Method of assessment
40% coursework consisting of a written report and an in-course test; 60% end-of-year examination
The syllabus for the module is covered adequately by many textbooks.
The core text for this module is:
• Wooldridge, J.M., 2013, Introductory Econometrics – A Modern Approach, South-
Western, 5th edition (International Student Edition).
• Damodar Gujurati, Econometrics by Example, Palgrave Macmillan, 2011
Additional texts which will be consulted include:
• Davis, G. & Pecar, B. (2013), Business Statistics using EXCEL, 2nd Edition, OUP.
• Kennedy, P., 2008, A Guide to Econometrics, 6th edition, Wiley.
• Maddala, G. (2009), Introduction to Econometrics, 4th Edition, Wiley.
• Studenmund, A. (2011), Using Econometrics: A Practical Guide, 6th Edition, Pearson.
• Thomas, R.L. (1996), Modern Econometrics: An Introduction, Addison-Wesley.
On successfully completing the module students will be able to:
• Critically understand of the nature of econometric models
• Abstract the essential features of an econometric issue or problem
• Have developed the analytical skills that allow students to formulate and consider a range of econometric problems and issues.
• Apply econometric software to business and economic data
• Perform and critically evaluate model adequacy using relevant diagnostic and specification tests
• Be critical in the interpretation and evaluation of their own empirical research and that of others in the areas of business and economic development