ULMS Electronic Module Catalogue

The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title INTRODUCTORY ECONOMETRICS FOR BUSINESS AND ECONOMICS
Code ECON233
Coordinator Dr Y Li
Economics
Yuyi.Li@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2021-22 Level 5 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):

ECON127 ECONOMIC PRINCIPLES FOR BUSINESS AND MARKETS; ECON112 STATISTICS FOR ECONOMICS AND BUSINESS; ECON111 MATHEMATICS FOR ECONOMICS AND BUSINESS; ECON121 PRINCIPLES OF MICROECONOMICS; ACFI111 QUANTITATIVE METHODS FOR ACCOUNTING AND FINANCE; ACFI127 ECONOMICS PRINCIPLES FOR ACCOUNTING AND FINANCE 

Modules for which this module is a pre-requisite:

 

Programme(s) (including Year of Study) to which this module is available on a required basis:

 

Programme(s) (including Year of Study) to which this module is available on an optional basis:

 

Teaching Schedule

  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 12

6

      12

6

36
Timetable (if known) 60 mins X 1 totaling 12
 
60 mins X 1 totaling 6
 
      120 mins X 1 totaling 24
60 mins X 1 totaling 6
 
 
Private Study 114
TOTAL HOURS 150

Assessment

EXAM Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Assessment 2: Written Unseen Examination (Online) Assessment Type: Written Exam Duration: 72 hours (Expected completion time is 2 hours under normal circumstances) Weighting: 70% Reassessment  72 hours (Expected c    70       
CONTINUOUS Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Assessment 1: Online MCQs Assessment Type: Coursework Size: 30 minutes per test (Approx: 10 questions per test) Weighting: 30% Reassessment Opportunity: Yes Penalty for Late Submission: St  30 minutes per test     30       

Aims

The aims of the module are as follows:

To learn some basic econometric concepts and modelling theory (non-technical)
To understand and interpret econometric analysis outputs,
To see the application of econometric techniques in business and economics in empirical examples;
To know how to implement econometric analysis using observed data and computer software.


Learning Outcomes

(LO1) Students will be able to understand basic econometric modelling and hypothesis testing techniques.

(LO2) Students will be able to interpret econometric analysis outputs.

(LO3) Students will be able to predict using simple fitted models and observed data.

(LO4) Students will be able to appreciate the use some computer packages to conduct econometric analysis on economics or business data.

(S1) Problem solving skills

(S2) Numeracy

(S3) Commercial awareness

(S4) Communication skills

(S5) IT skills


Teaching and Learning Strategies

Teaching Method: Online Asynchronous Learning Materials
Description: Material on key content will be available online asynchronously, in the format of a few ‘chunked’ short recordings each week. Student activities will be set to reflect on their understanding of the key content on a weekly basis.
Unscheduled Directed Student Hours: 12
Attendance Recorded: No

Teaching Method: Synchronous Session
Scheduled Directed Student Hours: 12
Attendance Recorded: No

Teaching Method: Seminar
Description: Solve theoretical exercises and provide Q&A sessions. We plan to offer biweekly small group seminars to support active learning.
Scheduled Directed Student Hours: 6
Attendance Recorded: Yes

Teaching Method: Group Study
Description: Biweekly 1 hour session to foster student community and engagement by working with others on their ‘active learning’ activities
Scheduled Student Hours: 6
Attenda nce Recorded: No

Self-Directed Learning Hours: 114
Description: These independent learning hours are aimed at supporting the directed student learning. This time can be used to consolidate understanding of the teaching material, work through examples, solve problems and exercises, and read beyond the material covered in classes.

Costs Information:
There are no specific costs attached to this module.

There are the following non-modular requirements:
Students must have taken one of the following: ACFI127, ECON121 or ECON127.
Students who are not studying on a joint honours programme with the Maths department must also have taken either ACFI111, or both ECON111 and ECON112.

This module is a pre-requisite for the following modules:
ECON333
ECON337

Skill/Other Attribute 1: IT skills
How this is developed: computer labs

Skill/Other Attribute 2: Communication skills
How this is developed: lectures, workshops

< p>Skill/Other Attribute 3: Commercial awareness
How this is developed: lectures, workshops

Skill/Other Attribute 4: Numeracy
How this is developed: lectures, workshops, computer labs

Skill/Other Attribute 5: Problem solving skills
How this is developed: lectures, workshops, computer labs


Syllabus

 

1. Simple linear regression
2. Multiple linear regression
3. Nonlinear models and transformation of variables
4, Dummy variables
5. Specification of regression variables


Recommended Texts

Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.