AF5039 - Econometrics

You will learn on this module through lectures (12 hours), interactive workshops (24 hours) and tutor led (82 hours) and independent learning (82 hours). You will learn concepts and models in an applied way for all taught components in this module, for this you will work in IT labs producing results involving the analysis of real-world data. You will study and replicate examples from published empirical research projects in economics and finance. The emphasis will be on high levels of engagement in understanding theory, collecting and analysing real world data and interpreting results. Independent learning will use both theory in economics and application using statistical software. Directed learning will centre upon a range of activities including pre-reading, preparation for interactive activities, practice in IT lab, and use of the discussion board to learn and share knowledge. Independent learning will centre upon the students identifying and pursuing areas of interest in relation to econometrics models and by providing deeper/broader knowledge and understanding of the subject through a range of learning activities that will include extended reading, reflection, research and statistical calculations.

You will be supported by a teaching and learning plan (TLP) that outlines the pattern and content of the formal sessions, together with tutor-directed study and independent reading. Support will be provided to you by a module lead and seminar and workshop tutors who will all provide support on a formative basis during each interactive session. Your lectures will be recorded and uploaded to the e-learning portal which you will be able to access to consolidate your knowledge and develop understanding. Your module is supported by an e-learning portal that houses lecture materials, seminar and workshop exercises and data files for use in workshop sessions. You will be provided with a wide-ranging electronic reading list that comprises of various academic reports, conference papers, video links and journal articles that will introduce you to the theory and application of the techniques introduced in the module. Your module assessment consists of empirically motivated work in economics and finance and you will be encouraged to remain an active participant in the learning process throughout the semester. Econometric software functions related to various models will be taught alongside module content to support your learning.

All modules at Northumbria include a range of reading materials that students are expected to engage with. Online reading lists (provided after enrolment) give you access to your reading material for your modules. The Library works in partnership with your module tutors to ensure you have access to the material that you need.

Knowledge & Understanding (KU):

• To understand and critique important econometric theories (MLO1)

• To formulate, analyse and test various econometric/ financial models. (MLO2).

Intellectual / Professional skills & abilities (IPSA):

• To use econometric software for the statistical analysis of data (MLO3).
• To appreciate the relevance of theory for empirical applications (MLO4).

Personal Values Attributes (PVA):

• You will develop a robust analytical skillset that will enable you to analyse and interpret a wide range of issues within and outside the disciplines of economics and finance. (MLO5).

Formative assessment:
Formative assessment will take place through assignment discussion and reflection, discussion board activity on the e-learning platform, case study activity, and theory/practice related discussions. You will receive formative feedback throughout the module, particularly in relation to workshop and seminar tasks. Students should, however, be aware that formative feedback can, and will, occur in any communication with the academic tutor.

Summative assessment:
This is made up of two elements:
• 2 hour IT lab-based exam (40%)
• Assignment requiring 2,000 words (60%).
Together the two form of assessment will address MLO1- MLO4.

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This module introduces the econometric theories and techniques that are important for both practitioners and researchers. It provides you with essential econometric skills and knowledge to analyse and interpret real-world data, and stimulates you to acquire and develop a theoretical and practical understanding of econometrics. The module’s content and structure provide a comprehensive overview of the econometric methods and analytical tools needed for the study of economics and finance, such as linear and multiple regressions, panel data and time series analysis, and forecasting techniques. Practical workshop sessions require the use of econometric software packages. At the end of this module you’ll be able to apply appropriate econometric techniques to a wide range of data, and to discuss and explain results concisely and consistently. By acquiring these critical skills, you’ll significantly enhance your profile in terms of employability and entrepreneurial opportunities.