Basic Econometrics and Quantitative Modelling

Description

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.

Availability

Callaghan

  • Semester 1 - 2017

Newcastle City Precinct

  • Semester 2 - 2017

Learning Outcomes

On 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.

Content

The 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 Models
  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

Assessment Items

Written Assignment: Weekly Assignments

In Term Test: In class Test

Formal Examination: Final Exam

Quiz: Online Quiz

Contact Hours

Callaghan and Newcastle City Precinct

Workshop

Face to Face On Campus 2 hour(s) per Week for Full Term

Students are expected to complete 4 hours of guided learning via online preparation, lectures, interactive workshops, tutorials, discussion groups or self-directed learning and an additional 6 hours of independent study per week.