EXC 3506 Research Methods and Econometrics
EXC 3506 Research Methods and Econometrics
The course provides an introduction to the research methods of the social sciences and to econometrics. Research methods is important for the understanding of the strengths, limitations and possibilities of applied research in general, and of econometric research in particular. Research methods also provides an insight into which approaches that are most appropriate for a certain research question. Regression analysis, a key component of econometrics, is a powerful and very flexible multivariate data analysis tool that can shed light on a very large number of economic issues.
After the course, the students will have knowledge about:
- Important research methodological concepts
- The main principles of scientific thinking and formulation of hypothesis
- Knowledge of the main approaches (both qualitative and quantitative with the focus on the latter) to the collection, processing and analysis of data
- Basic econometrics
- Possibilities and limitations of econometric tools for business uses (research, quality control, forecasting, logistic analysis and control, etc.)
- Limitations in the case where statistical assumptions are violated
- The plurality of interpretation and uncertainty associated with econometric analysis
After the course the students will be able to:
- Understand and assess research based on scientific principles
- Evaluate which approaches that best suit the nature of a research question
- Collect, process and analyse data on the basis of scientific research methods
- Conduct econometric analysis by means of modern software
- Conduct and interpret the results of multiple econometric hypothesis testing, also in the cases where the classical assumptions are not fulfilled
- Undertake model selection
- The students should acquire a conscious and critical attitude towards data, towards econometric analysis, and towards the assessment and interpretation of results from applied research
- Revision of the relevant statistical and mathematical concepts
- Research questions, hypotheses and types of data
- Variation in research design, plurality of interpretation and the uncertainty of inference
- Simple and multiple regression
- Variation in functional form
- Regression with qualitative predictors
- Heteroscedasticity
- Autocorrelation
- Specification error and model selection
- Introduction to time series data: dynamic models and basic forecasting
- Qualitative left-hand side variables
The course consists of 42 lecture hours, where the lectures may be combined with the solution of exercises and the use of software. Problem sets (voluntary) are handed out weekly. The most challenging exercises are addressed in class.
Re-sit examination
Students that have not gotten approved the coursework requirements, must re-take the exercises during the next scheduled course.
Students that have not passed the written examination or who wish to improve their grade may re-take the examination in connection with the next scheduled examination.
Higher Education Entrance Qualification
Disclaimer
Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.
EXC 2904 Statistics or MET 2920 Statistics for economists or MET 3431 Statistics or the equivalent.
| Mandatory coursework | Courseworks given | Courseworks required | Comment coursework |
|---|---|---|---|
| Mandatory | 5 | 3 | Each of the exercises consist of two parts, one case-based part that requires the use of software, and one part that is not case-based. The publication, solution and handing in of the exercises is done via the current learning platform (It's Learning). Feedback is given either via It's Learning and/or lectures. If a test is not approved in the first try, the student can retry. It is mandatory that the student get approved at least 3 of these tests in order to take the final exam. |
| Assessments |
|---|
Exam category: Submission Form of assessment: Structured test Invigilation Weight: 100 Grouping: Individual Support materials:
Duration: 3 Hour(s) Comment: The exam questions are partly based on a case that is published two weeks before the exam. The results from the case shall not have be handed in. In addition to questions from the case results, the exam will also contain questions on the whole syllabus. Exam code: EXC35061 Grading scale: ECTS Resit: Examination every semester |
| Activity | Duration | Comment |
|---|---|---|
Teaching | 36 Hour(s) | |
Feedback activities and counselling | 6 Hour(s) | Instruction on the use of econometric software. |
Group work / Assignments | 70 Hour(s) | |
Student's own work with learning resources | 60 Hour(s) | Self-study, preparation to lectures and group-studying. |
Submission(s) | 15 Hour(s) | Obligatory excercises. |
Examination | 13 Hour(s) | Exam case and exam. |
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.