EC486     
Econometric Methods

This information is for the 2018/19 session.

Teacher responsible

Dr Pasquale Schiraldi 32L 4.22

Mr Alessandro Gavazza, 32L 4.21

Availability

This course is compulsory on the MSc in Economics and Management. This course is not available as an outside option.

Course content

This course aims to present the theory and practice of empirical research in economics. Beyond the theory, the course will put a substantial amount of effort in having the students work with Stata and other econometric software in analyzing actual data sets, reproducing and criticising results in previous work and learning the actual practice of econometrics as undertaken by the best applied economists, both in general (in MT) and specifically within the IO field (in the LT). Topics include: (MT) Ordinary Least Squares, hypothesis testing, omitted and added variables, measurement error, the role of controls, and functional form. Panel data, fixed and random effects. Instrumental Variables. An introduction to the analysis of time series. The emphasis of this part is on the identification of causal effects, and applications in microeconomics (Labour Economics, Public Policy, IO, etc) are presented throughout. In LT you will learn the applications of many of these techniques to econometric questions in Industrial Organization, organizational economics and management.

Teaching

20 hours of lectures and 8 hours of seminars in the MT. 20 hours of lectures and 10 hours of seminars in the LT. 2 hours of lectures and 2 hours of seminars in the ST.

Formative coursework

Students are required to complete answers to problem sets on a week by week basis.

Indicative reading

MT: James H. Stock and Mark W. Watson, Introduction to Econometrics; reading lists of chapters and journal articles will be supplied at the start of each term.

Assessment

Exam (66%, duration: 3 hours) in the summer exam period.
Other (17%) in the MT.
Other (17%) in the LT.

Two problem sets, one per term, with a weight of 17% each towards the final overall grade.

The exam includes four questions, two for each term; the students have to answer three questions, at least one for each term. Each question carries 22% of the final overall grade.

Key facts

Department: Economics

Total students 2017/18: 30

Average class size 2017/18: 15

Controlled access 2017/18: Yes

Value: One Unit

Guidelines for interpreting course guide information