Module Code: EC4090
Module Title: Quantitative Methods
- ECTS Weighting: 15
- Semester/Term Taught: Michaelmas + Hilary Term
- Contact Hours: 44 hours of lectures and 18 hours of tutorials
- Module Personnel: Lecturers - Professor Alejandra Ramos (MT) / Professor Paul Scanlon (HT)
Module Learning Aims
In the Michaelmas term, Quantitative Methods is a continuation of Junior Sophister Econometrics, EC3090. This half-module is designed to provide students with a toolbox of econometric techniques frequently used in applied microeconomics research.
In the Hilary term, Quantitative Methods is a continuation of Junior Sophister Mathematical Economics, EC3080. The emphasis is on dynamic analysis, and the topics include differential and difference equations, and dynamic optimization. The term concludes with an introduction to stochastic calculus.
Topics discussed during Michaelmas Term:
Limited dependent variables
- Multinomial models
- Censoring, Truncation, and Selection
- Duration Models
- Instrumental variables
- Regression discontinuity designs
Topics discussed during Hilary Term:
- Differential and difference equations
- Dynamic optimization
- Stochastic calculus
Students that successfully complete the the Michaelmas term half-module will be able to:
- Derive and understand properties of different econometric models;
- Decide which approach is appropriate for a particular type of data and research question;
- Estimate econometric models using STATA pre-programmed routines and self-programed routines;
- Correctly interpret the results;
Students that successfully complete the the Hilary term half-module will be able to:
- Apply mathematical techniques to economic problems in both dynamic and static settings;
- Derive and understand economic insights from solutions to mathematically formulated economic models;
Recommended Reading List
- Cameron, A. and Trivedi, P. (2005), Microeconometrics: Methods and Applications, Cambridge University Press.
- Angrist, J. and Pischke, J. (2009), Mostly Harmless Econometrics, Princeton University Press
- Chiang, A.C. and Wainwright, K. (2005), Fundamental Methods of Mathematical Economics (4th ed.), McGraw-Hill
- Hoy, Michael et al., Mathematics for Economics, 3rd ed., MIT Press.
There will be a term test accounting for 10% of the overall grade and homeworks due periodically accounting for 10% of the overall grade.
There will be a term test accounting for 10% of the overall grade and an assignment accounting for 10% of the overall grade.
60% of the overall grade.
Module Pre Requisite
EC3080 and EC3090.