Economics 213: QUANTITATIVE METHODS FOR BUSINESS ECONOMICS

This course work aims to test your understanding to apply some of the underlying concepts learnt during the course. Analysis should be carried using any appropriate statistical package of your choice. This is an individual course work, so please ensure that the work you submit is your own. A preliminary short proposal (no more than one side of A4) outlining
your proposed research topic should be handed in NO LATER THAN 4PM FRIDAY WEEK 16. It should include the following sections: Theoretical Framework, Data Description and Sources, and References.

Guidelines
DEADLINE: Week 20, Tuesday 21st March 2017 by 12pm. Please submit both a soft copy (Moodle) and hard copy (departmental letter box).
 LIMIT: double side A4 paper (text spacing 1.5, font size 11) – no more than 10 pages.
Tables and diagrams should be put in appendices and not with the main text. I expect tables and diagrams to be labelled and referred to in your discussion.
 MARKS: Marks will be awarded for the following the guidelines below and for the use of the right tools and data to address the question related to any of the topics outlined.
Note that you are not restricted to the topics detailed below. Any topic needs to be agreed with your tutor/lecturer.
 PLAGIARISM: Plagiarised work will receive a zero mark.

Ideas for projects:

1. The relation between Oil price and inflation.
2. Congestion charging in theory and practice.
3. Stock market volatility during the recent financial practices.
4. Visibility study for any specific project.
5. Which factors best explain the Housing prices disparity across the UK.
6. Economic consequences of Brexit.
   Guidelines for writing up projects:
   Whichever topic you choose, your project should cover the following themes. You might also wish to pursue a business proposal using the appropriate investment appraisals techniques.
7. Introduction
   Give a brief introduction
8. Theory
   This should be a concise section covering the economic theory underlying the topic you have chosen. In particular, you should define concepts which you are likely to be testing in the statistical analysis.
9. Data
   Display a table of your data along with precise sources, and detailed definitions of variables (including time span of the series). Explain why you have chosen to use specific definitions in your analysis, and describe any problems you have encountered in collecting the data (eg limited availability of data, changes in definitions of published variables). Are there likely to be any problems specific to your project of using time series rather than cross section data?
10. Statistical and Graphical output
    This is a particularly important section of the project. Clearly present the results of your analysis. Comment on the goodness of fit of the model and the economic and statistical properties of the estimates. If you have tried different specifications of the model, make comparisons. Check for any technical problems with your preferred regression model.
    Clearly show the tests you have used and the conclusions you have drawn. If problems exist, comment on the potential cures.
11. Conclusion
12. Bibliography

Data Sources:
United Kingdom national accounts (Blue book), Central Statistical Office.
Annual Abstract of Statistics.
Economic Trends Annual Supplement
International Financial Statistical Yearbook, IMF
OECD ECONOMIC OUTLOOK; OECD ECONOMIC SURVEYS; OECD FINANCIAL STATISTICS, OECD
World Investment Report; World Investment Directory; World Development Indicators
CD-ROM; International Trade Statistical Yearbook, UN
Data Stream accessed from Ac Fin (see Sarah Ross for access details)