ECO-40014 - Module Specification
Keele Business School
Faculty of Humanities and Social Sciences

Programme/Approved Electives for 2024/25

Available as a Free Standing Elective

Co-requisites

None

Prerequisites

None

Barred Combinations

None

Description for 2024/25

This module teaches the underlying theory but focuses on the practical application of econometrics, which has become increasingly important in business, policy making, and academia. There is an emphasis on learning by doing, where you will spend most of the contact hours in computer labs using STATA, an industry standard software, to analyse data and make forecasts. You will learn how to apply advanced modelling techniques to real world data, addressing questions such as how to assess the causal impact of policy changes and producing forecasts for economic and financial variables. The portfolio assessment focuses on developing valuable employability skills in a setting where data analysis is becoming increasing important and ubiquitous, such as coding and communicating complex statistical analysis to a non-technical audience to inform decision making.

The Module extends students' knowledge and understanding of econometric theory and practice. Alongside the basic linear regression theory, extensions such as panel data, limited dependent variable models and time series methods will be covered. The module will cover essential analytics but the emphasis on computer lab classes highlights the focus on experiential learning to enable students to apply techniques using real-world datasets and employing industry standard software such as STATA.

Intended Learning Outcomes

Compare, contrast and implement modern panel data estimation methods: 1
Develop, construct and estimate advanced time series models in the context of modern large data sets: 1
Evaluate a range of panel data and time series econometric models and judge their relevance under different scenarios: 1
Evaluate the forecasting power of advanced econometric models and critically appraise their limitations: 1
Interpret the implications of advanced econometric model results and convey them to a non-specialised audience, including policy makers: 1

Study hours

6 hours lectures
18 hours lab seminars
20 preparation for classes
46 hours private study
60 hours preparation for the portfolio assessment

School Rules

None

Description of Module Assessment