This module provides students with an introduction to the principles and practice of economic data analysis and to develop basic competency in the analysis of real world data using a range of techniques. This is a hands-on module based on Microsoft Excel that develops students Excel skills in the use, presentation and interpretation of economic data.
A. demonstrate a basic understanding on how data is used by economists and provides the raw material for many economic theories
B. demonstrate a basic understanding on the issues which arise in producing and measuring the key macroeconomic data series including GDP, consumer prices and unemployment
C. demonstrate a basic understanding on the issues which arise in producing and measuring the key microeconomic data like firm level data and household survey data
D. demonstrate awareness of the main trends and growth in the key macroeconomic variables from the 1950s onwards.
E. process and analyse the data effectively using descriptive statistics functions and plotting tools
F. interpret simple graphs and charts containing economic data G. present and communicate the results they find using clear and interpretable graphs and tables
The module adopts a dual approach consisting of lectures and hands-on laboratory sessions. The material in the lectures will focus on understanding the economic data, discussing how economics is a data-driven subject and the key issues involved in the measurement and evolution of key economic variables. From the laboratory sessions the module gives instruction in data collection and management skills in addition to hands-on instruction in use of Excel spreadsheets for interpreting and presenting data series.