Overview

Indicative Content:

• The linear regression model. • Ordinary least squares. • Goodness of fit and the explanatory power of a regression model. • Multiple regression analysis: estimation and hypothesis testing (single and joint). • Interpretation and assumptions of basic models. • Breakdown of OLS Assumptions: heteroscedasticity, multicollinearity, endogeneity and instrumental variables, autocorrelation. • Dummy variables. • Non-stationarity and testing unit roots (optional).

Assessment Strategy

-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives. -good -B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills. -excellent -A- to A+ (70%+): Outstanding Performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills. -another level-C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

Learning Outcomes

• Analyse and interpret surveys, reports and academic literature that contain basic econometrics component.

• Critically evaluate the theoretical principles and assumptions underpinning key econometric tools.

• Demonstrate the application of the econometric tools to conduct an empirical analysis using an econometric/statistical software package.

• Evaluate the goodness of fit and the explanatory power of key statistical models.

• Translate an economic argument into a formal testable hypothesis within a regression model and carry out the appropriate testing procedure.