1. General information
Course:
INTRODUCTION TO ECONOMETRICS
Code:
53317
Type:
CORE COURSE
ECTS credits:
6
Degree:
316 - UNDERGRADUATE DEGREE IN ECONOMICS
Academic year:
2022-23
Center:
5 - FACULTY OF ECONOMICS AND BUSINESS
Group(s):
10
17
Year:
3
Duration:
First quarter
Main language:
Spanish
Second language:
English
Use of additional languages:
English Friendly:
Y
Web site:
https://blog.uclm.es/victorlopez/
Bilingual:
N
Lecturer:
VICTOR RAUL LOPEZ RUIZ
- Group(s):
10
17
Building/Office
Department
Phone number
Email
Office hours
Facultad de CC EE y EE / 3.09
ECO .ESP. E INT.,ECONOMET. E Hª E INS.EC
2349
victor.lopez@uclm.es
Monday and Tuesday by appointment
2. Pre-Requisites
It is recommended to have passed the mathematics and statistics subjects.
3. Justification in the curriculum, relation to other subjects and to the profession
The subject of Introduction to Econometrics is included in the third year of the Degree in Economics, as a necessary subject for concepts and econometric models. It constitutes, in this way, the core of the contents of the Econometric discipline. Its objective is to focus the learning, by the student, on a series of basic concepts of the discipline: the phases of economic research, general typology of economic models, knowledge and management of existing data sources at the macroeconomic. analysis of the economic environment, construction of models and approach to the basic regression model. In this way, the subject aims to expand the knowledge and skills of the student that allows the professional construction of models, addressing the different and specific to the economy in the face of complex situations of economic reality, in aspects related to planning and management of economic resources. In this way, in Econometrics there is not only a series of methods that must also be taught to work with them in reality, for what it should be complemented with economic theory and with the necessary quantitative information, hence its relation with subjects of the disciplines of Statistics, Mathematics and Economic Theory. Exam for its evolution, for the development of national accounting systems and computational technology, the economy must have a joint vision of work with the economic variables that it is interesting for the student to learn.
4. Degree competences achieved in this course
| Course competences | |
|---|---|
| Code | Description |
| E03 | Ability to find economic data and select relevant facts. |
| E05 | Ability to contribute to the establishment of strategies which will allow for the efficient allocation of resources, the generation of wealth and a suitable distribution of income. |
| E06 | Application of profesional criteria to the analysis of problems, based on the use of technical tools. |
| E16 | Identify relevant sources of financial information and its content, as well as the ability to derive the important information from the data, otherwise completely unknown to non-professionals. |
| G01 | Possession of the skills needed for continuous, self-led, independent learning, which will allow students to develop the learning abilities needed to undertake further study with a high degree of independence. |
| G03 | Develop oral and written communication skills in order to prepare reports, research projects and business projects and defend them before any commission or group of professionals (specialised or non-specialised) in more than one language, by collecting relevant evidence and interpreting it appropriately so as to reach conclusions. |
| G04 | Ability for the use and development of information and communication technology in the development of professional activity. |
| G05 | Capacity for teamwork, to lead, direct, plan and supervise multidisciplinary and multicultural teams in both national and international environments. |
5. Objectives or Learning Outcomes
| Course learning outcomes | |
|---|---|
| Description | |
| Train the student to work out problems in creative and innovative ways. | |
| Know the tools and methods for the quantitative analysis of the overall economy | |
| Enable student for autonomous work and learning, as well as for personal initiative | |
| Train the student to search for information in order to analyze it, interpret is meaning, synthesize it and communicate it to others. | |
| Additional outcomes | |
| Description | |
| Train the student to manage the sources through ICT, as well as the use of specific software for the modeling of economic reality. | |
6. Units / Contents
-
Unit 1: MODELING IN ECONOMETRICS
-
Unit 1.1: MODELING IN ECONOMY
-
Unit 1.2: THE METHOD FOR THE CONSTRUCTION OF ECONOMETRIC MODELS
-
-
Unit 2: DATA AND ECONOMIC INFORMATION
-
Unit 2.1: ECONOMIC INFORMATION AND MODELING
-
Unit 2.2: ANALYSIS OF TIME SERIES IN THE SHORT AND LONG TERM
-
-
Unit 3: CONSTRUCTION OF ECONOMETRIC MODELS
-
Unit 3.1: BASIC REGRESSION MODEL I: SPECIFICATION, ESTIMATION
-
Unit 3.2: BASIC REGRESSION MODEL II: TEST OF HYPOTHESIS AND FORECAST
-
-
Unit 4: EMPIRICAL ECONOMETRICS: APPLICATIONS
-
Unit 4.1: DEMAND MODELS: CONSUMPTION, INVESTMENT, TRADE
-
Unit 4.2: SUPPLY MODELS
-
Unit 4.3: LABOUR MARKET, WAGES AND PRICES MODELS
-
7. Activities, Units/Modules and Methodology
| Training Activity | Methodology | Related Competences | ECTS | Hours | As | Com | Description | |
| Class Attendance (theory) [ON-SITE] | Lectures | E03 E05 E06 E16 G01 G04 | 1.2 | 30 | Y | N | ||
| Class Attendance (practical) [ON-SITE] | Cooperative / Collaborative Learning | E05 E06 E16 G01 G03 G04 G05 | 0.67 | 16.75 | Y | N | ||
| Class Attendance (theory) [ON-SITE] | Combination of methods | E03 E06 E16 G01 G04 | 0.13 | 3.25 | Y | N | ||
| Writing of reports or projects [OFF-SITE] | Group Work | E03 E05 E06 E16 G01 G03 G04 G05 | 1.2 | 30 | Y | Y | ||
| Writing of reports or projects [OFF-SITE] | Case Studies | E05 E06 G01 G03 G04 | 0.56 | 14 | Y | N | ||
| Project or Topic Presentations [ON-SITE] | Combination of methods | G03 G05 | 0.04 | 1 | Y | N | ||
| On-line Activities [OFF-SITE] | Self-study | G01 G03 | 0.32 | 8 | Y | N | ||
| On-line debates and forums [OFF-SITE] | Combination of methods | E06 G01 G03 | 0.32 | 8 | Y | N | ||
| Study and Exam Preparation [OFF-SITE] | Combination of methods | E05 E06 E16 G01 G04 | 1.44 | 36 | Y | N | ||
| Group tutoring sessions [ON-SITE] | Guided or supervised work | E03 E06 E16 G01 G04 | 0.04 | 1 | N | N | ||
| Final test [ON-SITE] | Assessment tests | E05 E06 E16 G01 G03 | 0.08 | 2 | Y | Y | ||
| Total: | 6 | 150 | ||||||
| Total credits of in-class work: 2.16 | Total class time hours: 54 | |||||||
| Total credits of out of class work: 3.84 | Total hours of out of class work: 96 | |||||||
As: Assessable training activity Com: Training activity of compulsory overcoming (It will be essential to overcome both continuous and non-continuous assessment).
8. Evaluation criteria and Grading System
| Evaluation System | Continuous assessment | Non-continuous evaluation * | Description |
| Final test | 60.00% | 100.00% | Objective test that is divided into two blocks: theoretical and practical. |
| Theoretical papers assessment | 20.00% | 0.00% | Group work on the construction of an econometric model applied to an economic reality. Attention will be paid not only to the content, but to the correct use of scientific forms and oral presentation. |
| Assessment of problem solving and/or case studies | 10.00% | 0.00% | Individual work. Participation and positive result of the practical sessions, seminars, tutorials, ... Requires a minimum of participation (face-to-face and non-face-to-face via Moodle platform) |
| Progress Tests | 10.00% | 0.00% | A similar progress test will be made to the final test. |
| Total: | 100.00% | 100.00% |
According to art. 4 of the UCLM Student Evaluation Regulations, it must be provided to students who cannot regularly attend face-to-face training activities the passing of the subject, having the right (art. 12.2) to be globally graded, in 2 annual calls per subject , an ordinary and an extraordinary one (evaluating 100% of the competences).
Evaluation criteria for the final exam:
-
Continuous assessment:The evaluation is based on a continuous system in which the effort and progress of the student in the development of a series of competences is valued.
Progress test will be made through practical exercises at the end of the semester.
Individual work through cases for delivery according to the established school calendar. The participation and positive result of the practical sessions, seminars, tutorials will be valued.
Group work: in the evaluation of this work attention will be paid not only to the content, but to the correct use of scientific forms and oral presentation.
Final test, through the development of two blocks: theoretical questions and practical exercises that will be held on the day set for the final exam. To make the average, in the final exam it is necessary to obtain a minimum score of 4 points out of 10 in one of the parts and five in average. -
Non-continuous evaluation:Specific test for this case, of greater extension, evaluating all the competences and explicitly the one referred to the analysis of the economic reality with the application of econometric models whose weight in the test will be at least 20%
See section b of point 4.2. of the UCLM Student Regulations approved on May 23, 2022.
Specifications for the resit/retake exam:
There is not
Specifications for the second resit / retake exam:
The evaluation will be carried out on a single written test, being necessary to pass the subject a minimum score of 5 out of 10.
9. Assignments, course calendar and important dates
| Not related to the syllabus/contents | |
|---|---|
| Hours | hours |
| Project or Topic Presentations [PRESENCIAL][Combination of methods] | 1 |
| On-line Activities [AUTÓNOMA][Self-study] | 8 |
| Group tutoring sessions [PRESENCIAL][Guided or supervised work] | 1 |
| Final test [PRESENCIAL][Assessment tests] | 2 |
| Unit 1 (de 4): MODELING IN ECONOMETRICS | |
|---|---|
| Activities | Hours |
| Class Attendance (theory) [PRESENCIAL][Lectures] | 5 |
| Class Attendance (practical) [PRESENCIAL][Cooperative / Collaborative Learning] | 1 |
| Writing of reports or projects [AUTÓNOMA][Group Work] | 4 |
| Writing of reports or projects [AUTÓNOMA][Case Studies] | 2 |
| On-line debates and forums [AUTÓNOMA][Combination of methods] | 1 |
| Study and Exam Preparation [AUTÓNOMA][Combination of methods] | 6 |
| Group 10: | |
| Initial date: 12-09-2022 | End date: 25-09-2022 |
| Group 17: | |
| Initial date: 12-09-2022 | End date: 25-09-2022 |
| Unit 2 (de 4): DATA AND ECONOMIC INFORMATION | |
|---|---|
| Activities | Hours |
| Class Attendance (theory) [PRESENCIAL][Lectures] | 8 |
| Class Attendance (practical) [PRESENCIAL][Cooperative / Collaborative Learning] | 3.75 |
| Class Attendance (theory) [PRESENCIAL][Combination of methods] | 2 |
| Writing of reports or projects [AUTÓNOMA][Group Work] | 11 |
| Writing of reports or projects [AUTÓNOMA][Case Studies] | 4 |
| On-line debates and forums [AUTÓNOMA][Combination of methods] | 2 |
| Study and Exam Preparation [AUTÓNOMA][Combination of methods] | 10 |
| Group 10: | |
| Initial date: 26-09-2022 | End date: 23-10-2022 |
| Group 17: | |
| Initial date: 26-09-2022 | End date: 23-10-2022 |
| Unit 3 (de 4): CONSTRUCTION OF ECONOMETRIC MODELS | |
|---|---|
| Activities | Hours |
| Class Attendance (theory) [PRESENCIAL][Lectures] | 11 |
| Class Attendance (practical) [PRESENCIAL][Cooperative / Collaborative Learning] | 8 |
| Class Attendance (theory) [PRESENCIAL][Combination of methods] | 1.25 |
| Writing of reports or projects [AUTÓNOMA][Group Work] | 11 |
| Writing of reports or projects [AUTÓNOMA][Case Studies] | 5 |
| On-line debates and forums [AUTÓNOMA][Combination of methods] | 2 |
| Study and Exam Preparation [AUTÓNOMA][Combination of methods] | 14 |
| Group 10: | |
| Initial date: 24-10-2022 | End date: 27-11-2022 |
| Group 17: | |
| Initial date: 24-10-2022 | End date: 27-11-2022 |
| Unit 4 (de 4): EMPIRICAL ECONOMETRICS: APPLICATIONS | |
|---|---|
| Activities | Hours |
| Class Attendance (theory) [PRESENCIAL][Lectures] | 6 |
| Class Attendance (practical) [PRESENCIAL][Cooperative / Collaborative Learning] | 4 |
| Writing of reports or projects [AUTÓNOMA][Group Work] | 4 |
| Writing of reports or projects [AUTÓNOMA][Case Studies] | 3 |
| On-line debates and forums [AUTÓNOMA][Combination of methods] | 3 |
| Study and Exam Preparation [AUTÓNOMA][Combination of methods] | 6 |
| Group 10: | |
| Initial date: 28-11-2022 | End date: 21-12-2022 |
| Group 17: | |
| Initial date: 28-11-2022 | End date: 21-12-2022 |
| Global activity | |
|---|---|
| Activities | hours |
10. Bibliography and Sources
