Econometric Techniques

This subject is not offered in 2014.

Admission into BH-COM, BH-ARTS (Economics), Graduate Diploma in Economics or Master of Economics

OR

None

Please refer to Prerequisites and Corequisites.

Students may not gain credit for both ECOM40006 Econometric Techniques and ECOM90013 Econometric Techniques.

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/

This subject introduces appropriate estimation and inference techniques for models that involve a single equation and those involving systems of equations. Normally topics will include asymtotic theory, maximum likelihood estimation, classical testing procedures, generalised least squares estimation, seemingly unrelated regression models, stochastic regressors, instrumental variables, generalised methods of moments, simultaneous equations models (including VARs) and model-selection procedures.

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

• Investigate the characteristics of data that influence the choice of model and estimation technique for modelling and estimating economic relationships.
• Apply suitable estimation techniques to a range of economic and econometric models, interpret the results from these models, and use the results for forecasting and policy analysis.
• Describe the theory underlying inference techniques used in econometrics.

A 3-hour end-of-semester examination (70%) and class assignments up to 40 pages (30%).

You will be advised of prescribed texts by your lecturer.

This subject is not available as a breadth subject.

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
• Application of Windows software
• Using and designing computer programs
• Statistical reasoning
• Problem solving skills
• Collaborative learning and teamwork
• Written communication