EC3301 Econometrics
Academic year
2024 to 2025 Semester 1
Curricular information may be subject to change
Further information on which modules are specific to your programme.
Key module information
SCOTCAT credits
20
SCQF level
SCQF level 9
Planned timetable
When confirmed, check online https://timetables.st-andrews.ac.uk/.
Module coordinator
Dr P D Macmillan
Module Staff
Peter Macmillan
Module description
The module develops student understanding of the classical linear econometric model (ordinary least squares). This will cover a range of topics including: estimation and inference in multivariate regression models; the use of limited dependent variables; large sample properties of OLS estimators; multicollinearity and heteroskedasticity. Student understanding of key econometric concepts and their application to economics will be developed, allowing them to estimate, interpret, test and critically evaluate economic relationships. The module will develop students applied skills through the use of appropriate econometric software.
Relationship to other modules
Pre-requisites
PERMISSION OF THE ECONOMICS HONOURS ADVISER
Assessment pattern
Two class tests 50% (25%) each. One 1500 word written project (50%)
Re-assessment
2-hour Written Examination = 100%
Learning and teaching methods and delivery
Weekly contact
1hr x 20 lectures, 1hr x 4 tutorials, 2hr x 5 laboratories
Scheduled learning hours
34
Guided independent study hours
166
Intended learning outcomes
- Derive OLS estimates and to apply the technique to real world data.
- Evaluate and interpret the results generated under OLS
- Understand the importance of the assumptions made under OLS and the impact of the violation of these assumptions.
- Understand how the OLS technique may be modified and extended when the assumptions underlying OLS are violated.
- To make use of a relevant econometrics software package to test, interpret and evaluate the models developed in lectures.