ULMS Electronic Module Catalogue

The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title INTRODUCTORY ECONOMETRICS FOR BUSINESS AND ECONOMICS
Code ECON233
Coordinator Dr Y Li
Economics
Yuyi.Li@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2019-20 Level 5 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):

 

Modules for which this module is a pre-requisite:

 

Programme(s) (including Year of Study) to which this module is available on a required basis:

 

Programme(s) (including Year of Study) to which this module is available on an optional basis:

 

Teaching Schedule

  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 24

    6

  6

36
Timetable (if known) 120 mins X 1 totaling 24
 
           
Private Study 114
TOTAL HOURS 150

Assessment

EXAM Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Assessment 2: Written Unseen Examination Assessment Type: Written Exam Duration: 2 hours Weighting: 70% Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL penalty appl  2 hours    70       
CONTINUOUS Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Assessment 1: Online MCQs Assessment Type: Coursework Size: 10 questions per test Weighting: 30% Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL penalty applies   10 questions per tes    30       

Aims

The aims of the module are as follows:

To learn basic econometric concepts and the theory behind them
To subsequently apply econometric techniques in business and economics;
To implement econometric analysis using observed data and computer software.


Learning Outcomes

(LO1) Students will be able to use of computer packages using various econometric techniques, to real and observed economic / business data.

(LO2) Students will be able to use elementary forecasting techniques.  

(LO3) Students will be able to understanding the theory behind the econometric concepts and their relevance to the evaluation of certain business and / or economic situations.

(S1) Problem solving skills

(S2) Numeracy

(S3) Commercial awareness

(S4) Communication skills

(S5) IT skills


Teaching and Learning Strategies

Teaching Method: Lecture
Scheduled Directed Student Hours: 24
Attendance Recorded: No

Teaching Method: Laboratory Work
Description: Laboratory work and application of econometric techniques to real data sets (directed computer workshop using Eviews)
Scheduled Directed Student Hours: 6
Attendance Recorded: Yes
Notes: Computer Labs

Teaching Method: Workshop
Description: Differs from the laboratory work as no computer software – just theoretical exercises and Q&A
Scheduled Directed Student Hours: 6
Attendance Recorded: Yes

Self-Directed Learning Hours: 114
Description: These independent learning hours are aimed at supporting the directed student learning. The module leader will provide guidance in the form of suggested readings and topics to examine with the expectation that students are well prepared to contribute to the tutorial and workshop activities and to understand the content of lectures. Self-Directed Learnin g will include research activity, developing academic writing skills, and wider reading to support the module

Costs Information:
There are no specific costs attached to this module.

There are the following non-modular requirements:
Students must have taken one of the following: ACFI127, ECON121 or ECON127.
Students who are not studying on a joint honours programme with the Maths department must also have taken either ACFI111, or both ECON111 and ECON112.

This module is a pre-requisite for the following modules:
ECON333
ECON337

Skill/Other Attribute 1: IT skills
How this is developed: computer labs

Skill/Other Attribute 2: Communication skills
How this is developed: lectures, workshops

Skill/Other Attribute 3: Commercial awareness
How this is developed: lectures, workshops

Skill/Other Attribute 4: Numeracy
How this is developed: lectures, workshops, computer labs

Skill/Other Attribute 5: Problem solving skills
How this is developed: lectures, workshops, computer labs


Syllabus

 

1. Basic review of probability and statistics
2. Simple linear regression and hypothesis testing (Basic concepts, OLS estimation, Gauss-Markov theorem, parameter interpretation, R-squared, t-test)
3. Multiple linear regression and hypothesis testing (multi-collinearity), adjusted R-squared, F-test, heteroskedasticity)
4. Applications to Business and Economics through observed data analysis and evaluation
5. Advanced topics: One of non-linear regression, time series regression, binary choice models.


Recommended Texts

Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.