University of St Andrews

Key information

SCOTCAT credits : 20

ECTS credits : 10

Level : SCQF level 9

Semester: 1

Planned timetable: 9.00 am - 11.00 am Tue.

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-requisite(s): Permission of the Economics Honours Adviser

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: 167

Assessment pattern

As used by St Andrews: Two class tests 50% (25%) each. One 1500 word written project (50%)

As defined by QAA
Written examinations : 75%
Practical examinations : 0%
Coursework: 25%

Re-assessment: 2-hour Written Examination = 100%

Personnel

Module coordinator: Dr P D Macmillan
Module teaching staff: Peter Macmillan
Module coordinator email pdm1@st-andrews.ac.uk

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.