AF6045 - Advanced Econometrics

You will be supported in this module by a comprehensive teaching and learning plan (TLP), which clearly specifies lectures and computer workshops as well as tutor-directed study and independent reading. The lectures and seminars will cover the theoretical aspects of econometrics alongside the computer workshops, which will demonstrate the practical aspects of advanced modern econometrics. Workshops will also be used to provide clarity or further discuss aspects of the lectures that you may have questions on. You will have the opportunity to interact with the teaching team and benefit from questions or discussions from other students in your class.



The topics in this module will have practical aspects using computer classes based on data from empirical studies published in top-tier journals. The use of both lectures and computer classes will give you an in-depth understanding of the different components of advanced econometrics that will be taught during lectures and these will provide the opportunity to critically evaluate the techniques learned. In the computer workshops, you will use econometrics software packages for estimations and analyses, and this will be preceded by introductory lectures on how to use econometrics software packages in model estimations.

You will be supported in this module by an e-learning module site, which will provide materials for lectures, computer workshops and other relevant readings for your independent study. The teaching team will support you by delivering the content of the lectures, providing answers to your questions about the materials, and practical guidance/assistance during computer workshops. You will have access to the computer laboratory to practice at your own pace the various econometric techniques/methods that will be taught during lectures and workshops. There will be fixed schedules for office hours with the teaching team which will give you the opportunity to discuss or ask questions about this module. In addition, you can contact the lecturer via email outside the scheduled sessions should you have any queries about any aspects of the lectures or computer workshops.

All modules at Northumbria include a range of reading materials that students are expected to engage with. The reading list for this module can be found at: http://readinglists.northumbria.ac.uk
(Reading List service online guide for academic staff this containing contact details for the Reading List team – http://library.northumbria.ac.uk/readinglists)

Knowledge & Understanding:

You will develop a sound knowledge of advanced econometric techniques and analysis (MLO1).

You will be able to comprehend empirical studies using econometric methods and critically analyse the results and the techniques adopted (MLO2).

You will be able to identify which econometric techniques are best suited to address specific research questions (MLO3)



Intellectual / Professional skills & abilities:

You will develop the ability to apply econometric techniques and methods to solving practical and real-world problems (MLO4).



Personal Values Attributes (Global / Cultural awareness, Ethics, Curiosity) (PVA):

Critically evaluated personal strengths and weaknesses and have demonstrated the ability to engage in reflective self-development (MLO5)

Formative Assessment:

The formative assessment will comprise of discussion questions and problem sets which will be distributed to you in advance. There will be individual and group discussion of the answers to these problem sets and questions during the workshops. This will encourage your active participation in the learning process throughout the semester. The e-Learning portal will be used to permanently host these tasks after release to ensure that you can access the information required at all times. You will be provided with the opportunity to get one to one feedback on the summative assignment.





Summative Assessment:



The module is assessed by:



A 1,500 word group report and a 500- word individual reflective log (40% weight). In the report students will be required to put into practice some of the econometric techniques acquired from lectures and computer workshops. The individual reflective log will include a self-assessment of strengths and weaknesses across a range of interpersonal and intrapersonal skills as well as a peer assessment of other group members using a standardised peer assessment format. The topic will be assigned to students in Week 2, and it will be due for submission in Week 10 (MLO1, MLO2, MLO3, MLO4, MLO5).

There will be an end of semester 2-hour examination (closed book) for this module (60% weight), where students will be required to answer four questions out of six. The examination will assess students’ understanding of econometric models and estimation techniques taught in lectures and computer workshops. (MLO1, MLO2, MLO4).

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Econometric analysis provides a solid approach for estimation in many quantitative-inclined disciplines. In recent years, modern econometrics has witnessed an improvement in estimation techniques and these techniques have been widely used in many empirical works, both economics and non-economics disciplines. Also, there has been an advancement in econometrics software packages that makes it possible to undertake complex econometric and statistical analyses. This module aims to develop and enhance your knowledge and ability to evaluate and carry out a wide range of econometric analysis. You will apply econometric theory and estimation techniques to investigate practical and real-world problems using data sets from articles published in top-tier journals. This module will equip you with the requisite knowledge and analytical skills required for a rigorous empirical analysis.