UCL School of Slavonic and East European Studies (SSEES)


SESS0023 Applied Econometrics

UCL Credits: 15

Total Learning Hours: 150

ECTS: 7.5

Level: Intermediate


Term 1

Module Coordinator: Dr Svetlana Makarova

Taught By: Dr Svetlana Makarova, Dr Yating Li

To find out more about this module, please contact the Module Coordinator.

Weekly Contact Hours: 3.5 (2 hour lecture and 1.5 hour lab sessions per week)
Prerequisites: Intro to Statistical Methods AND either Intro to Microeconomics or Intro to Macroeconomics
Compulsory Module for: Group A course for Year 2
Optional Module for: Year 2/3/4

Summative Assessment

Group Work (2,500 words) (20%), Unseen two-hour written examination (75%), MCQ 30 Minutes (5%)

Formative Assessment

In order to help students to follow the theoretical and practical materials the weekly home exercises will be given. Answers and solutions to these exercises will be partially available on Moddle and partially will be discuss during the follow on sessions and, if needed, during office hours. This will allow students not only in following the lectures and classes topics but also in self-evaluation.

Module Outline

This course is designed to develop students’ ability to understand and interpret quantitative results in the empirics of economics and business. It also provides a foundation for enabling students to conduct their own empirical research in this area. The emphasis is less on the computational techniques and more on interpretation of the numerical results. The course begins with basic methods for analysis of economic data and simple regression formulation and will progress gradually towards more specific techniques used for cross-sectional and time-series data. This will ‘open doors’ for all 2nd year students for studying and understanding the modern empirical economics and business literature and provide them with basic skills necessary to undertake their own research. The course will also serve for more advanced students as a platform for further, more advanced, quantitative courses.

Aims and objectives

  • To develop the student’s ability to understand and properly apply selected statistical and econometric tools which are commonly used in empirical economics and business analysis.
  • To develop the student’s knowledge of basic methods of discovering correlations, causes and outcomes relating to economic phenomena.
  • To develop the student’s ability to analyse economic data with the use of statistical software (Stata).
  • During the preparation of the project students will develop desired transferable skills in writing analytical reports.
  • Good conceptual understanding of the basic tools for analysing and comparing static and dynamic economic data.
  • Technical skills necessary to work on empirical economic projects.
  • The knowledge and confidence to access and interpret a range of economic data.
  • Sufficient knowledge of analytical tools to understand empirically-oriented courses.
  • Knowledge of how to use empirical tools in their third-year dissertations, if the dissertation is to be empirically oriented.

Indicative Texts

    The core textbook:

      • Stock, J.H. and Watson, M.W (2011), Introduction to Econometrics. 3rd ed., Pearson International Edition.

      Supplementary textbooks:

      • Dougherty, C. (2011), Introduction to Econometrics, 4th ed., Oxford University Press
      • Koop, G. (2008), Introduction to Econometrics, Wiley.
      • Koop, G. (2013), Analysis of Economic Data, 4th ed., Wiley.

      More supplementary reading will be given during the lectures and classes.

      In addition to the core text book there is a Moodle page for this course (www.ucl.ac.uk/moodle) which should be regularly checked for new lecture notes, class exercises and other materials and information related to the course.


        This module is open to affiliate students (dependent upon personal timetable, availability and subject to meeting prerequisites)


        Course Code



        Full Year AffiliatesRegister for SESS2010As Above 7.5
        Affiliates here for Term 1 onlyRegister for SESS2010A  7.5
        Affiliates here for Terms 2 and 3 onlyNot available-  -

        Please note: This outline is accurate at the time of publication. Minor amendments may be made prior to the start of the academic year.