UNIVERSITY OF KENT
Confirmation that this version of the module specification has been approved by the School
Learning and Teaching Committee:
05/02/2015
MODULE SPECIFICATION
1.
Title of the module
EC837 Applied Econometrics for Business and Economic Development
2.
School or partner institution which will be responsible for management of the module
Economics
3.
Start date of the module
January 2016
4.
The number of students expected to take the module
10-30
5.
Modules to be withdrawn on the introduction of this proposed module and
consultation with other relevant Schools and Faculties regarding the withdrawal
None
6.
The level of the module (e.g. Certificate [C], Intermediate [I], Honours [H] or
Postgraduate [M])
Level M
7.
The number of credits and the ECTS value which the module represents
15 Credits [7.5 ECTS]
8.
Which term(s) the module is to be taught in (or other teaching pattern)
Spring
9.
Prerequisite and co-requisite modules
EC835
10. The programmes of study to which the module contributes
MSc in Applied Economics and International Development (core)
MSc in International Business and Economic Development (core)
1
Module Approved February 2015
UNIVERSITY OF KENT
11. The intended subject specific learning outcomes
By the end of the module, students will:
11.1. Have a critical understanding of the nature of econometric models
11.2. Be able to abstract the essential features of an econometric issue or problem
11.3. Have developed the analytical skills that allow students to formulate and
consider a range of econometric problems and issues.
11.4. Be practiced in applying econometric software to business and economic data
11.5. Be able to perform and critically evaluate model adequacy using relevant
diagnostic and specification tests
11.6. Be critical in the interpretation and evaluation of their own empirical research
and that of others in the areas of business and economic development
12. The intended generic learning outcomes
By the end of the module, students will:
12.1. Be able to utilise modern computing resources to access and acquire data from
the internet (and other available sources) and utilise standard Office based PC
software (currently Microsoft) to generate written reports and undertake oral
presentations
12.2. Be able to address problems quantitatively and to undertake empirical
modelling of business and economic behaviour through widely available
statistical software
12.3. Have developed numeracy and problem solving skills from the interpretation
and manipulation of empirical models
12.4. Be practiced in presenting business and economic arguments verbally as well
as in written form
12.5. Have developed independent learning skills
12.6. Have improved their skills in working as part of a team
13. A synopsis of the curriculum
The ability to apply econometric methods is an essential part of modern postgraduate
degree training in economics. This module contributes to the achievement of these
subject specific skills by providing an introduction to common issues and related
econometric techniques relevant to the empirical evaluation and analysis of data pertinent
to the fields of international business and economic development.
The module is approached in a practical way that focuses on the application and
interpretation of econometric techniques to business and economic data, with less
emphasis on the statistical theory aspects of the subject. This approach ensures that
students gain knowledge and experience in using suitable computer software to undertake
business and economic research, and to understand empirical relationships which occur in
other MSc modules and which they will investigate in their research dissertation.
The specific topics to be covered are:

Classical two-variable regression, Classical multiple regression, Multicollinearity,
Heteroskedasticity, Autocorrelation, Stationarity, Time-Series Cross-Section and
Panel estimation.
2
Module Approved February 2015
UNIVERSITY OF KENT
14. Indicative Reading List
The syllabus for the module is covered adequately by many textbooks.
The core text for this module is:

Wooldridge, J.M., 2013, Introductory Econometrics – A Modern Approach, SouthWestern, 5th edition (International Student Edition).
Additional texts which will be consulted include:





Davis, G. & Pecar, B. (2013), Business Statistics using EXCEL, 2nd Edition, OUP.
Kennedy, P., 2008, A Guide to Econometrics, 6th edition, Wiley.
Maddala, G. (2009), Introduction to Econometrics, 4th Edition, Wiley.
Studenmund, A. (2011), Using Econometrics: A Practical Guide, 6th Edition, Pearson.
Thomas, R.L. (1996), Modern Econometrics: An Introduction, Addison-Wesley.
Guidance on specific reading will be given in lectures. References will also be made to
journal articles which both illustrate the material and link to other modules as appropriate.
Multiple copies of all texts are in the library, with many held in the core text collection.
15. Learning and Teaching Methods, including the nature and number of contact hours
and the total study hours which will be expected of students, and how these relate to
achievement of the intended module learning outcomes
There will be a one-hour lecture per week (12 hours in total) and a two-hour computer
practical/seminar per week (24 hours in total). The lectures introduce the module material
and provide an overview of the principles of econometric techniques and common issues
encountered with regards to their application. Applications of these techniques are
conducted in computing workshops using real world data. Seminars will be used to
facilitate discussion of computer and class exercises and for student presentations.
The lectures and computer workshops are designed to improve the analytical and
problem solving skills of students, and develop their ability to apply their knowledge and
understanding of econometric issues to real world data.
The seminar programme improves the analytical abilities of students, their understanding
of the module material and their communication skills by providing them with the
opportunity to show their understanding of the module material and to ask questions
about topics they are not sure about. Seminar activities will include small group
presentations of the material covered in computer workshops.
Throughout the module, emphasis is put on the need for students to improve their own
learning skills and academic performance. This is achieved through feedback on student
work and academic guidance on private study. The total anticipated work load is 150
hours.
These learning and teaching methods and their relation to learning outcomes are
summarised in the table below:
Activity
Total Hours
Relation to Learning Outcomes
Lectures
12
SLO 11.1-11.3
GLO 12.2, 12.3
Computer Workshops
& Seminars
24
SLO 11.1-11.6
GLO 12.1-12.6
Independent Study
114
SLO 11.1-11.6
3
Module Approved February 2015
UNIVERSITY OF KENT
GLO 12.1-12.5
16. Assessment methods and how these relate to testing achievement of the intended
module learning outcomes
The final mark for the module is comprised of 40% in-term coursework plus 60% end-ofyear examination. The coursework is in two equally weighted parts; the first is based on a
computer based exercise; the second involves an in-class-assessment (ICA). Each
assessment will test and develop a wide range of the specific and general skills and
learning outcomes identified in sections 11 & 12.
The computer-based take home assessment will involve using statistical/econometric
software to undertake econometric estimation of a relevant applied business or economic
issue. The assessment will test students' analytical skills, their ability to formulate
methods of analysis to investigate relevant data, and their ability to deal with practical
problems and demonstrate an understanding of relevant issues that arise in applied
econometric work.
The ICA is a test designed to assess students’ knowledge and understanding of
econometric techniques and their application to business and economic data. The
assessment will require students to demonstrate a critical understanding of the application
of alternative econometric methods and to interpret and discuss empirical results.
The end of year two-hour examination will consist of two questions to be answered from a
choice of four. The examination is designed to test students' analytical skills and their
interpretation and understanding of relevant issues that arise in applied econometric work.
The assessments and their relation to learning outcomes are outlined in the table below:
Assessment Type
% of Final Mark
Assessment of Learning Outcomes
Computer-based report
(2000 words)
20%
SLO 11.1-11.6
GLO 12.1-12.5
In-Class-Assessment
(1 hour)
20%
SLO 11.1-11.5
GLO 12.1-12.5
Examination
(2 hour)
60%
SLO 11.1-11.5
GLO 12.1-12.5
17. Implications for learning resources, including staff, library, IT and space
None
18. The School recognises and has embedded the expectations of current disability
equality legislation, and supports students with a declared disability or special
educational need in its teaching. Within this module we will make reasonable
adjustments wherever necessary, including additional or substitute materials,
teaching modes or assessment methods for students who have declared and
discussed their learning support needs. Arrangements for students with declared
disabilities will be made on an individual basis, in consultation with the University’s
disability/dyslexia support service, and specialist support will be provided where
needed.
19. Campus(es) or Centre(s) where module will be delivered:
Canterbury
4
Module Approved February 2015