Basic Econometrics

Subject ECOM90001 (2014)

Note: This is an archived Handbook entry from 2014.

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

This subject has the following teaching availabilities in 2014:

Semester 1, Parkville - Taught on campus.
Pre-teaching Period Start not applicable
Teaching Period not applicable
Assessment Period End not applicable
Last date to Self-Enrol not applicable
Census Date not applicable
Last date to Withdraw without fail not applicable


Timetable can be viewed here. For information about these dates, click here.
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:


ECON90049 Quantitative Decision Making 2
OR
Entry into the Master of Commerce(Finance) 202AF

And one of:
ECON20003 Quantitative Methods 2
MAST20005 Statistics

And one of:
ECON20001 Intermediate Macroeconomics
ECON20002 Intermediate Microeconomics
FNCE20001 Business Finance

Subject
Study Period Commencement:
Credit Points:
Not offered in 2014
12.50
Summer Term, Semester 1, Semester 2
12.50
Semester 2
12.50
Summer Term, Semester 1
12.50
January, Semester 1, Semester 2
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

Melbourne Business School @ Berkeley Street
Level 4, 198 Berkeley Street
Telephone: +61 3 8344 1670
Email: mbs-enquiries@unimelb.edu.au
Web: http://mbs.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.
Learning Outcomes:

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:
  • Problem sheets, submitted fortnightly (10%)
  • 2000 word assignment due Week 4 (10%)
  • A 1-hour mid-semester test (10%)
  • 2-hour end-of-semester examination (70%)
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.

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