Basic Econometrics

Subject ECOM90001 (2013)

Note: This is an archived Handbook entry from 2013.

Credit Points: 12.50
Level: 9 (Graduate/Postgraduate)
Dates & Locations:

This subject is not offered in 2013.

Time Commitment: Contact Hours: Two 1-hour lectures and a 1-hour tutorial/seminar per week
Total Time Commitment:

Estimated total time commitment of 120 hours per semester

Prerequisites:

Entry into the Master of Commerce (Finance) 202AF.

ECON20003 Quantitative Methods 2 and one of ECON20001 Intermediate Macroeconomics or ECON20002 Intermediate Microeconomics or FNCE20001 Business Finance.

Subject
Study Period Commencement:
Credit Points:
Not offered in 2013
12.50
Not offered in 2013
12.50
Not offered in 2013
12.50
Semester 1
12.50
Corequisites:

None

Recommended Background Knowledge:

None

Non Allowed Subjects:

ECOM30001 Basic Econometrics or ECOM20001 Introductory Econometrics

Subject
Core Participation Requirements:

For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements for this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

Contact

Graduate School of Business and Economics
Level 4, 198 Berkeley Street
Telephone: +61 3 8344 1670
Online Enquiries
Web: www.gsbe.unimelb.edu.au

Subject Overview:

This subject examines multiple regression analysis and its use in economics, management, finance, accounting and marketing. Topics will include the properties of estimators, hypothesis testing, specification error, multicollinearity, dummy variables, heteroskedasticity, serial correlation. Empirical assignments undertaken by the student form an integral part of the subject.

Objectives:

On successful completion of this subject students should be able to:

  • Apply the classical model of ordinary least squares to data sets drawn from economics, finance, accounting and management using single and multiple regression equations;
  • Test hypotheses concerning the relationship between variables;
  • Explain in detail the consequences of the violation of any one of the classical assumptions;
  • Test for violations of the classical assumptions;
  • Estimate models in the presence of non-classical errors and stochastic explanatory variables;
  • Diagnose model misspecification using the most appropriate tests, and where appropriate identify the appropriate remedial actions;
  • Use computer software to perform simple data descriptions and to graph relationships between variables, to estimate econometric models using OLS and Instrumental Variables, and to estimate simple dynamic models;
  • Apply econometric methods to real world data and perform diagnostic testing to ensure the model is adequately specified.
Assessment:
  • 2-hour end-of-semester examination (70%)
  • Class assignments totalling approximately 3000 words (30%)
Prescribed Texts:

You will be advised of prescribed texts by your lecturer.

Breadth Options:

This subject is not available as a breadth subject.

Fees Information: Subject EFTSL, Level, Discipline & Census Date
Generic Skills:

On successful completion of this subject, students should have improved the following generic skills:

  • Evaluation of ideas, views and evidence
  • Synthesis of ideas, views and evidence
  • Critical thinking
  • Application of theory to economic policy and business decision making
  • Accessing economic and other information
  • Summary and interpretation of information
  • Using computer programs
  • Statistical reasoning
  • Problem solving skills
  • Collaborative learning and teamwork
  • Written communication
  • Oral communication
Notes:

Students may not gain credit for both ECOM90001 Basic Econometrics and either ECOM30001 Basic Econometrics or ECOM20001 Introductory Econometrics.

Related Course(s): Master of Commerce - Economics
Master of Commerce - Finance

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