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Econometrics of Productivity Measurement and Efficiency
This course will provide the students with an in-depth understanding of the fundamental concepts of econometric production analysis and with the practical skills to use econometric software to empirically analyse production technologies and producer behaviour. The module will build on the foundation of core econometrics courses and prepare students for MSc and PhD research or work as an econometrician, consultant, or quantitative analyst for public and private institutions within the broad area of econometric production analysis.
This module can be taken as part of a PG Certificate, PG Diploma or Full Masters Program.
- 10 Credits
- 100 hours of study
- 15 contact hours
- 85 hours for private study
Faculty
Structure
Structure
Econometrics of Productivity Measurement and Efficiency is an elective 10 credit course and therefore students are expected to input approximately 100 hours of study into the course.
The total number of contact hours is 15 hours. This leaves 85 hours for private study.
Lectures
This module consists of 2- hour lectures per day for 5 days, plus a 1 - hour tutorial per day.
There will be optional clinics on the last day of the course.
The dates of each lecture are confirmed closer to the start of each term. If you have any questions about dates, please contact edu@timberlake.co.uk.
Module Programme
Introduction & Econometric Analysis with Production Functions (part 1)
- Microeconomic production theory (primal approach)
- Statistical methods
- Empirical analyses
- Cobb-Douglas production function
Econometric Econometric Analysis with Production Functions (part 2)
- Translog production function
- Constant Elasticity of Substitution (CES) production function
- General topics regarding production functions
Econometric Analysis with Cost Functions
- Microeconomic theory: cost functions
- Cobb-Douglas and Translog cost functions
- General topics regarding cost functions
Stochastic Frontier Analysis
- Microeconomic theory
- Stochastic frontier analysis
- Cobb-Douglas and Translog stochastic production frontier
- Cobb-Douglas stochastic cost frontier
Econometric Analysis of Multiple-Output Technologies
- Microeconomic theory
- Cobb-Douglas and Translog cost functions for multiple outputs
- Other topics regarding cost functions for multiple outputs
- Cobb-Douglas and Translog output distance function
- Cobb-Douglas and Translog input distance function
- Cobb-Douglas and Translog stochastic ray production frontier
Prerequisites
English Language Requirements
Both Programmes are open to applicants anywhere in the world. We may ask applicants to provide a recognised English language qualification, dependent upon their nationality and where they have studied/worked previously.
The requirement is an IELTS (Academic) Test with an overall score of at least 6.5, and a minimum of 6.0 in each element of the test. We will also consider other English language qualifications. If their score is below our requirements, they may be eligible for one of Lancaster University's pre-sessional English language programmes.
Academic Requirements
Applicants to the Postgraduate Certificate of Achievement, Postgraduate Certificate, Postgraduate Diploma or full MSc in either programme require either an upper second-class degree in economics, econometrics or related subjects.
Module Requirements
'Module Requirements' - for some modules they must have first completed other modules, for example for this course students must first complete 'Foundations of Econometrics"
Learning Outcomes
- Know the basics of microeconomic production theory that build the theoreticalfoundation of econometric production analysis
- Describe the taught approaches to econometric production analysis and assess theirsuitability in various empirical settings
- Use econometric software to empirically analyse production technologies and producerbehaviour
- Calculate various indicators of production technologies and producer behaviour andinterpret their meaning regarding the “real-world” situation
- Apply various approaches to econometric production analysis to investigate variousreal-world questions
- Critically evaluate the appropriateness of a specific econometric production analysis foranalysing a specific real-world question
- Communicate and present the results of econometric production analysis in oral and writtenform with clarity and succinctness
Frequently Asked Questions
I am very pleased with the MSc programme. As I had already taken some Timberlake courses, I knew what to expect with regard to the quality of teaching and I was not disappointed. I am so satisfied with the lecturers. It is a privilege to attend their lectures and take advantage of their expertise. Apart from that, they are always ready and willing to clarify doubts.
I am very pleased with the MSc programme. As I had already taken some Timberlake courses, I knew what to expect with regard to the quality of teaching and I was not disappointed. I am so satisfied with the lecturers. It is a privilege to attend their lectures and take advantage of their expertise. Apart from that, they are always ready and willing to clarify doubts.
I am very pleased with the MSc programme. As I had already taken some Timberlake courses, I knew what to expect with regard to the quality of teaching and I was not disappointed. I am so satisfied with the lecturers. It is a privilege to attend their lectures and take advantage of their expertise. Apart from that, they are always ready and willing to clarify doubts.
I am very pleased with the MSc programme. As I had already taken some Timberlake courses, I knew what to expect with regard to the quality of teaching and I was not disappointed. I am so satisfied with the lecturers. It is a privilege to attend their lectures and take advantage of their expertise. Apart from that, they are always ready and willing to clarify doubts.
I am very pleased with the MSc programme. As I had already taken some Timberlake courses, I knew what to expect with regard to the quality of teaching and I was not disappointed. I am so satisfied with the lecturers. It is a privilege to attend their lectures and take advantage of their expertise. Apart from that, they are always ready and willing to clarify doubts.
I am very pleased with the MSc programme. As I had already taken some Timberlake courses, I knew what to expect with regard to the quality of teaching and I was not disappointed. I am so satisfied with the lecturers. It is a privilege to attend their lectures and take advantage of their expertise. Apart from that, they are always ready and willing to clarify doubts.
A Collaboration Like No Other
Timberlake Consultants and Lancaster University Management School (LUMS) Economics department have a longstanding partnership; combining 40+ years of industry expertise with over 50 years of academic excellence. We are delighted to build on this with our micro-credential postgraduate courses.
Flexible learning
Online postgraduate courses
Specialist courses
Best-in-field experts
Tailored learning
Career-oriented education
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Flexible learning
Online postgraduate courses
Specialist courses
Best-in-field experts
Tailored learning
Career-oriented education