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| Module Availability |
Autumn
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| Assessment Pattern |
| Unit(s) of Assessment |
Weighting Towards Module Mark (%)
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1 Hour Coursework Test
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50
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Coursework Assignment
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50
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Qualifying Condition(s)
A weighted aggregated mark of 40% is required to pass the module.
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| Module Overview |
The module offers a programme of lectures and lab sessions using data used to illuminate the different sectors of modern economies. |
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| Prerequisites/Co-requisites |
| None |
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| Module Aims |
The module is designed to further understanding of practical tools of economic measurement and data analysis using actual data drawn from the UK economy. |
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| Learning Outcomes |
By the end of the module students will:-
- Understand some of the practical problems involved in the construction and interpretation of economic data and how such data relate to underlying concepts
- Be familiar with the key principles of the European System of Accounts
- Be able to apply a variety of practical techniques of data analysis in different economic contexts
- Be familiar with some of the important sources of economic data for different sectors of the economy
- Be better able to exploit spreadsheets as a tool in economic data analysis
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| Module Content |
The following is an indication of the likely topics to be covered:-
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The Concept of GDP in the European System of Accounts (ESA 95)
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Comparing GDP over time and space: the index number problem
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The Household Sector: real household disposable income; savings ratio; measuring the cost of living and the distribution of income and wealth
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The Corporate Sector: production statistics and the use of input-output tables.
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The labour market: the construction and use of earnings, unemployment and other labour market data; the analysis of the labour market as a source of inflation.
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Measuring monetary and fiscal policy; monetary policy and the yield curve; the budget deficit.
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International trade and the balance of payments: measuring comparative advantage.
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| Methods of Teaching/Learning |
Ten 1 hour lectures and four 1 hour lab sessions
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| Selected Texts/Journals |
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This module makes extensive use of its own dedicated workbook, which contains background information on the topics as well as exercises using spreadsheets and web based data as tools of analysis.
Readings related to individual topics are drawn from practically oriented publications such as The Bank of England Quarterly Bulletin, the National Institute Economic Review and articles produced by the Office for National Statistics (ONS).
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| Last Updated |
04 October 2010
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