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Online postgraduate courses
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.
- 10 Credits
- 100 hours of study
- 15 contact hours
- 85 hours for private study
Faculty
Structure
Structure
Discrete Choice Models 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.
PcGive
R gets
Module Programme
Properties of Discrete Choice Models
- Properties of Discrete Choice Models
- Conditional LogitModels
- Estimation
Generalized Extreme Value
- Generalized Extreme Value / Nested Logit Models
Probit Models
- Probit Models
- Drawing from Densities
- SimulationAssisted Estimation
Mixed Logit Models
- Mixed Logit Models
- Individual-Level Parameters
- EMAlgorithm
Other Issues
- Other Issues - Stated vs Revealed Preferences, Ranked Data, OrderedResponses, Contingent Valuation, Dynamic Optimization
- Endogeneity
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
- Non-linear binary models
- Probit models and estimatin
- Logit Models and estimation
- 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
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.
All modules are examined through online coursework submissions, you will have the support of your module lecturer/tutor in this poccess.
No, all necessary software is provided to students.
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.
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