Basic Econometrics and Quantitative Modelling

Course code ECON1003Units 10Level 1000Faculty of Business and LawNewcastle Business School

Econometrics informs and supports decision making in both business and policy environments. This course introduces statistical methods and econometric modelling, focusing upon providing students with hands-on software skills applied in economics, commerce, finance and business decision making processes. Students are introduced to solving econometric problems within an Excel spreadsheet environment. Emphasis is placed upon problem-solving and drawing inferences from data to make informed decisions, both highly valued attributes within business environments.

Available in 2015

Callaghan CampusSemester 1, Semester 2
Previously offered in 2014
ObjectivesOn successful completion of the course, students will be able to:
1. Employ analytical skills to solve simple econometric and statistical problems;
2. Select statistical methods to make basic inferences from sample data and to present and interpret results from a simple regression analysis;
3. Utilise quantitative skills to summarise and present sample data as a basis for making informed decisions;
4. Formulate and conduct estimation and hypothesis testing in a statistical testing framework;
5. Comprehend the assumptions underlying the simple regression models;
6. Apply econometric modelling and forecasting techniques to economic, finance and business data in a MS Excel spreadsheet environment and to interpret and communicate the results in an informed manner.
ContentThe topics in this include but are not limited to:

1. Introduction to Linear Functions
2. Non-linear Function and Applications of Functions & Differentiation
3. Finance
4. Graphics and Introduction to Excel
5. Numerical Descriptive Statistics
6. Probability and Probability Distributions
7. Sampling and Sampling Distribution
8. Estimation
9. Hypothesis Testing
10.Simple Linear Regression and Correlation
11.Time-series analysis and Forecasting
12.Index Numbers
Replacing Course(s)This course replaces ECON1130.
TransitionECON1003 is not available to students who have completed ECON1130.
Industrial Experience0
Assumed KnowledgeNil
Modes of DeliveryInternal Mode
Teaching MethodsLecture
Tutorial
Assessment Items
Examination: FormalFormal exam in exam period.
Other: (please specify)Students must submit answers to tutorial exercises.
Quiz - ClassMid-semester test. Details in course outline.
Contact HoursLecture: for 2 hour(s) per Week for Full Term
Tutorial: for 1 hour(s) per Week for 12 weeks
Timetables2015 Course Timetables for ECON1003