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ADMECM: Econometrics
Module code: ADMECM
Module provider: School of Agriculture, Policy and Development
Credits: 20
Level: Postgraduate Masters
When you'll be taught: Semester 2
Module convenor: Professor Kelvin Balcombe, email: k.g.balcombe@reading.ac.uk
Pre-requisite module(s):
Co-requisite module(s):
Pre-requisite or Co-requisite module(s):
Module(s) excluded: IN TAKING THIS MODULE YOU CANNOT TAKE ADMREM (Compulsory)
Placement information: NA
Academic year: 2024/5
Available to visiting students: Yes
Talis reading list: No
Last updated: 20 May 2024
Overview
Module aims and purpose
This module provides an introduction to different econometric models as applied to different types of data. At the end of this module students should be able to聽
- translate different types of data into appropriate econometric models to make forecasts and to support decision-making聽
- specify models such that they can be used to answer research questions and to be able to make model comparisons聽
- conduct hypothesis testing and interpret results critically聽
- to understand the assumptions behind linear models聽
- to understand diagnostic tests and appropriate models to overcome violations of classical assumptions聽
- handle data sets and use the software to carry out econometric analysis of different types of data using different types of models聽
Module learning outcomes
By the end of the module, it is expected that students will be able to:聽
- Understand how to specify and estimate various econometric models applied to different types of data (cross-section, time series)聽
- Interpret and critically evaluate results obtained from a variety econometric models applied to different types of data and to be able to communicate these results to others.聽
- Be able to conduct diagnostic tests and implement appropriate models to overcome violations of classical assumptions.聽
- Combine data handling skills and econometric software skills to undertake applied econometric analysis and evaluate and interpret results in Gretl聽
Module content
- Introduction and Overview to Econometrics and Statistics with Illustrations +Coverage of Assessment聽
- Sample Statistics, Types of Data, Probability聽
- Expected Value, Models, Data, Correlation and Causation聽
- Hypothesis Testing:聽 Concepts聽
- Hypothesis Tests about Means and Proportions聽
- Ordinary Least Squares and Bivariate Regression聽
- Multiple Regression聽
- The Logit and Probit Model聽
- Why things go 鈥渨rong鈥澛
- Designing a Research Problem聽
- Look Back and Ahead, Coursework for part II聽
- Testing and Imposing General Linear Restrictions聽
- Why OLS for Regression? Assumptions and Properties of OLS聽
- Heteroscedasticity: Nature, Testing Consequences and Mitigation聽
- Serial correlation: Nature, Testing Consequences and Mitigation聽
- Endogeneity: Nature, Testing Consequences and Mitigation聽
- Time Series Regression, Autoregressive Models and Seasonality聽
- Model Specification聽
- Lecture: Tobit and Ordered Probit Regression聽
- Course Review and Guide to Model Building聽
Structure
Teaching and learning methods
Online lectures will be available covering all of the core materials. The key concepts in the online lectures will be presented in class. All lectures will involve practical sessions where examples of statistics and econometric models will be estimated within class by students (using the software Gretl) and the results explained and discussed.聽
Study hours
At least 44 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.
聽Scheduled teaching and learning activities | 聽Semester 1 | 聽Semester 2 | 听厂耻尘尘别谤 |
---|---|---|---|
Lectures | 40 | ||
Seminars | |||
Tutorials | |||
Project Supervision | |||
Demonstrations | |||
Practical classes and workshops | |||
Supervised time in studio / workshop | |||
Scheduled revision sessions | 4 | ||
Feedback meetings with staff | |||
Fieldwork | |||
External visits | |||
Work-based learning | |||
聽Self-scheduled teaching and learning activities | 聽Semester 1 | 聽Semester 2 | 听厂耻尘尘别谤 |
---|---|---|---|
Directed viewing of video materials/screencasts | 40 | ||
Participation in discussion boards/other discussions | |||
Feedback meetings with staff | |||
Other | |||
Other (details) | |||
聽Placement and study abroad | 聽Semester 1 | 聽Semester 2 | 听厂耻尘尘别谤 |
---|---|---|---|
Placement | |||
Study abroad | |||
聽Independent study hours | 聽Semester 1 | 聽Semester 2 | 听厂耻尘尘别谤 |
---|---|---|---|
Independent study hours | 116 |
Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.
Semester 1 The hours in this column may include hours during the Christmas holiday period.
Semester 2 The hours in this column may include hours during the Easter holiday period.
Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.
Assessment
Requirements for a pass
Students need to achieve an overall module mark of 50% to pass this module.
Summative assessment
Type of assessment | Detail of assessment | % contribution towards module mark | Size of assessment | Submission date | Additional information |
---|---|---|---|---|---|
In-class test administered by School/Dept | Multiple choice questions | 20 | 40 questions | Early Semester 2 | |
In-class test administered by School/Dept | Multiple choice questions | 20 | 40 questions | End of Semester 2 | |
Written coursework assignment | Econometric report | 60 | 2,500 words | Semester 2 |
Penalties for late submission of summative assessment
The Support Centres will apply the following penalties for work submitted late:
Assessments with numerical marks
- where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
- the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
- where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
- where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.
Assessments marked Pass/Fail
- where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
- where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.
The University policy statement on penalties for late submission can be found at: /cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.
Formative assessment
Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.
Reassessment
Type of reassessment | Detail of reassessment | % contribution towards module mark | Size of reassessment | Submission date | Additional information |
---|---|---|---|---|---|
Written coursework assignment | Econometric report | 100 | 3,000 words | End of summer vacation | This report would be a directed report where the student must select some variables from a dataset provided. They will be required to estimate a model and use specified components of the methods used in the course, including model specification and testing. |
Additional costs
Item | Additional information | Cost |
---|---|---|
Computers and devices with a particular specification | ||
Required textbooks | Wooldridge, Introductory Approach | 拢50 maximum |
Specialist equipment or materials | ||
Specialist clothing, footwear, or headgear | ||
Printing and binding | ||
Travel, accommodation, and subsistence |
THE INFORMATION CONTAINED IN THIS MODULE DESCRIPTION DOES NOT FORM ANY PART OF A STUDENT'S CONTRACT.