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Virtual Open Day! 19 November @1PM GMT | Register Now!
Virtual Open Day! 19 November @1PM GMT | Register Now!
Virtual Open Day! 19 November @1PM GMT | Register Now!
Virtual Open Day! 19 November @1PM GMT | Register Now!
10 Credits

Discrete Choice Models

Please note to take this course you must first have completed Foundations of Econometrics

The course covers the estimation and usage of discrete choice models that are increasingly estimated using simulation methods. Discrete choice models are used to examine the choices of individual consumers, households, firms and other agents. The course will cover the main discrete choice models and a variety of specifications that build on these models, as well as standard maximum likelihood and simulation-based estimation techniques. Discrete choice models are applicable in many fields, including energy, environmental studies, health, labour, marketing, urban economics and transportation.

​This module can be taken on its own, or as part of a PG Certificate, PG Diploma or Full Masters Program.

Discrete Choice Models
  • 10 Credits
  • 100 hours of study
  • 15 contact hours
  • 85 hours for private study
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Qualifications accredited by Lancaster University
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Buildable Qualifications
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Learn Around
Your Schedule
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World-Class
Faculty
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Fully Online

Structure

Software

Module Programme

Properties of Discrete Choice Models

Session Content
  • Properties of Discrete Choice Models
  • Conditional LogitModels
  • Estimation

Generalized Extreme Value

Session Content
  • Generalized Extreme Value / Nested Logit Models

Probit Models

Session Content
  • Probit Models
  • Drawing from Densities
  • SimulationAssisted Estimation

Mixed Logit Models

Session Content
  • Mixed Logit Models
  • Individual-Level Parameters
  • EMAlgorithm

Other Issues

Session Content
  • Other Issues - Stated vs Revealed Preferences, Ranked Data, OrderedResponses, Contingent Valuation, Dynamic Optimizatio
  • Endogeneity

Session Content

Session Content

Session Content

Session Content

Session Content

Session Content

Session Content

Session Content

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.

Learning Outcomes

Key Skills
  • Non-linear binary models
  • Probit models and estimatin
  • Logit Models and estimation
Desired Skills
  • Use automatical model selection to build econometric models
  • Use saturation estimation
  • Present, interpret and analyse the results of automatic model selection
  • Utilise effectively PcGive and the R gets package packages

Frequently Asked Questions

Are the courses within either programme conducted synchronously or asynchronously?

All sessions are conducted live and online at a scheduled time, but are also recorded. Students may attend live and watch the recordings back to recap the material or watch the recordings only if unable to attend live. We always advise students to attend live where possible as this will allow them the best opportunity to engage with the content and ask the lecturer's questions.

Is all examination undertaken online or in-person?

All modules are examined through online coursework submissions, you will have the support of your module lecturer/tutor in this poccess.

Do I need to buy any statistical/econometric software?

No, all necessary software is provided to students.

What do I do if I can't attend a course live?

All courses are recorded and available on the LUMS internet platform throughout the current academic year. They can therefore be viewed 24 hours a day.

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.

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