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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

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.

Econometrics of Productivity Measurement and Efficiency
  • 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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Fully Online

Structure

Software

Module Programme

Introduction & Econometric Analysis with Production Functions (part 1)

Session Content
  • Microeconomic production theory (primal approach)
  • Statistical methods
  • Empirical analyses
  • Cobb-Douglas production function

Econometric Econometric Analysis with Production Functions (part 2)

Session Content
  • Translog production function
  • Constant Elasticity of Substitution (CES) production function
  • General topics regarding production functions

Econometric Analysis with Cost Functions

Session Content
  • Microeconomic theory: cost functions
  • Cobb-Douglas and Translog cost functions
  • General topics regarding cost functions

Stochastic Frontier Analysis

Session Content
  • Microeconomic theory
  • Stochastic frontier analysis
  • Cobb-Douglas and Translog stochastic production frontier
  • Cobb-Douglas stochastic cost frontier

Econometric Analysis of Multiple-Output Technologies

Session Content
  • 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

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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
  • 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
Desired Skills
  • 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

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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