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Module Title
LM Statistical Methods in Finance and Economics
School
Mathematics
Department
Mathematics
Module Code
06 37787
Module Lead
Level
Masters Level
Credits
20
Semester
Semester 2
Pre-requisites
Co-requisites
Restrictions
None
Exclusions
Description
This course is designed for students with limited or no prior finance or economic theory background. It emphasizes the understanding of quantitative methods, model evaluations, and the techniques for empirical studies in finance and economics.
This module starts with an introduction to general financial and economic concepts, then it will cover the basics and extension of ordinary least square methods, heteroscedasticity, autocorrelation, multicollinearity, model specifications, simultaneous equation models, binary and discrete choice models, qualitative and limited dependent variable models, time series analysis, panel data models, and nonparametric analysis with their applications in finance and Economics. Students will gain hands-on experience formulating and estimating models, interpreting results, and making forecasts.
Learning Outcomes
By the end of the module students should be able to:
Demonstrate an understanding of the nature of statistical inferential procedures involved in analysing financial and economics data
Formulate models to solve some empirical economic problems
Apply appropriate statistical methods and techniques to understand relationships among variables
Use appropriate statistical software
Demonstrate an understanding of the power and limitations of applied statistical analysis
Perform and present research by using relevant data and statistical tools
Demonstrate a comprehensive knowledge beyond the taught syllabus from personal exploration of the subject.
Students will be allowed a second and final attempt at the final examination during the Supplementary Examination Period with their final mark capped at the pass level of 50%.