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ECO454Social Sciences2 Unitsintermediate

Intertional Trade and Finance and Applied Econometrics

This course, Applied Econometrics II, is designed for undergraduate Economics students. It provides a detailed exploration of econometric theory and its practical applications in data analysis for policy interpretations. Students will learn to run regressions using time series data, assess data stationarity, and evaluate equation model identification. The course emphasizes advanced econometric applications and their use in policy analysis, equipping students with skills for academic and professional success.

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78h
Study Time
13
Weeks
6h
Per Week
intermediate
Math Level
Course Keywords
EconometricsTime Series DataModel EstimationPolicy AnalysisEViews

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
📊
Math Level
Moderate Math
🔬
Learning Type
Hands-on Practice

Course Topics

Key areas covered in this course

1

Model Estimation

2

Statistical Significance Tests

3

Time Series Analysis

4

Forecasting Techniques

5

Simultaneous Equations

6

Instrumental Variables

Total Topics6 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Economist

Apply your skills in this growing field

Data Analyst

Apply your skills in this growing field

Policy Analyst

Apply your skills in this growing field

Financial Analyst

Apply your skills in this growing field

Market Research Analyst

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

GovernmentFinanceConsultingResearchBanking

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1:

2h

Unit 1: Stages of Applied Econometric Research

2 study hours
  • •Understand the stages of econometric research
  • •Learn the assumptions of econometric models
  • •Review economic and econometric models
Week
2

Module 1:

2h

Unit 2: Model Estimation

2 study hours
  • •Discuss parameter estimation procedures
  • •Understand sources of deviations in parameter model estimation
  • •Learn about the uses of random variables in models
Week
3

Module 1:

2h

Unit 3: Statistical Tests of Significance of The OLS Estimates

2 study hours
  • •Conduct R-squared test
  • •Perform Z test
  • •Perform T test
  • •Evaluate the statistical significance of OLS estimates
Week
4

Module 1:

2h

Unit 4: Confidence Interval of Econometric Estimates

2 study hours
  • •Discuss and apply confidence interval for ̂b0
  • •Discuss and apply confidence interval for ̂b1
  • •Understand the goodness of estimators
Week
5

Module 1:

2h

Unit 5: Stationarity of Time Series Data

2 study hours
  • •Define stationarity
  • •State the steps for determining stationarity in data management
  • •Determine and discuss data stationarity using Dickey–Fuller method
Week
6

Module 2:

2h

Unit 1: General Forecasting

2 study hours
  • •Explain the meaning of forecasting
  • •Discuss forecasting in stationary and non-stationary situations
  • •Understand the uses of random variables in forecasting
Week
7

Module 2:

2h

Unit 2: Forecasting and Seasonal Variations

2 study hours
  • •Discuss forecast trends
  • •Explain reasons for forecasting
  • •Understand the applications of forecasting and manpower needs
Week
8

Module 2:

2h

Unit 3: Identification Problem

2 study hours
  • •Discuss the concept of identification
  • •Discuss the rank method of identification
  • •Discuss the order method of identification
Week
9

Module 2:

2h

Unit 4: Two stage Least Squares (2SLQ)

2 study hours
  • •Discuss the meaning of two stage least squares in econometrics
  • •Discuss the assumptions of two stage least squares
  • •Practice algebraic and software estimation
Week
10

Module 3:

2h

Unit 1: Simultaneous Equations

2 study hours
  • •Know the nature and characteristics of simultaneous equation models
  • •Know about simultaneous equation bias
  • •Find solutions to simultaneous equation problems
Week
11

Module 3:

2h

Unit 2: Instrumental Variables Method (IV)

2 study hours
  • •Discuss the instrumental variables method as an alternative method of regression
  • •Use the econometric software to estimate equations using the instrumental variables method
Week
12

Module 3:

2h

Unit 3: Full Information Maximum Likelihood Method

2 study hours
  • •Know the estimation procedure of full information maximum likelihood method
  • •Learn the properties and assumptions of full information maximum likelihood method
  • •Learn the practical applications with on hand practical on EViews
Week
13

Module 3:

2h

Unit 4: Three Stage Least Squares (3SLS)

2 study hours
  • •Know the meaning of three stage least squares
  • •Discuss the assumptions and method of three stage least squares estimation
  • •Learn the practical applications with on hand practical on EViews

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create concept maps linking Modules 1-3 econometric techniques

2

Practice using EViews with time series data from Units 4-5 weekly

3

Review assumptions for OLS and 2SLS from Units 7-9

4

Solve simultaneous equation problems from Units 10-13

5

Focus on interpreting regression outputs and diagnostic tests

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