Intermediate Econometrics

Course code ECON3007Units 10Level 3000Faculty of Business and LawNewcastle Business School

This course builds on the basic econometric and quantitative techniques studied in first year. It extends students’ knowledge and understanding of a range of econometric methods and techniques used to analyse data sets in economics, business and finance.

This course introduces the student to a thorough and critical coverage of econometric methods in a program of graduated complexity. It studies the properties of linear regression models under classical assumptions and explores the implications of potential violations of these assumptions.
Diagnostics for detecting violations are discussed and econometric remedies are derived. The basic theory of estimation of time-series models, systems of linear regression equations and instrumental variables, panel data modelling are canvassed.

The course proceeds by firstly acquiring understanding of the methods involved; secondly describing the appropriate use of econometric software to provide valid, reliable results; and thirdly interpreting and commenting on the results.
Assessment is made about the strengths and weaknesses of econometric techniques and methodologies in addressing specific applied economic policy problems of critical interest to economists and business-and financial researchers and professionals.

Available in 2014

Callaghan CampusSemester 1
Previously offered in 2013, 2012
ObjectivesUpon successful completion of this course students will be able to:

1. Demonstrate an extended understanding of a range of econometric modelling techniques;
2. Demonstrate skills in “hands-on” modelling, estimation and diagnostic testing, utilising economic and business data;
3. Critically analyse and evaluate the results of studies that have been undertaken by others using econometric techniques;
4. Engage in collaborative processes (formal or informal group works) to complete econometric modelling inquiry, employing statistical techniques, analysing data and communicating results.
ContentThis course includes but is not limited to the following topics:
1. Basic regression concepts
2. Properties of estimators
3. Violations of classical assumptions
4. Estimation and hypothesis testing
5. Simple linear and multiple regression modelling
6. Simultaneous equations models
7. Instrumental variable models
8. Limited dependent variable models
9. Time series analysis
10. Panel data analysis
Replacing Course(s)ECON3450 Econometric Modelling
TransitionThis course is not available to students who have completed ECON3450 Econometric Modelling.
Industrial Experience0
Assumed KnowledgeECON1130 or ECON1003
Modes of DeliveryInternal Mode
Teaching MethodsLecture
Tutorial
Computer Lab
Assessment Items
Examination: ClassMid semester test.
Essays / Written AssignmentsGroup/Individual assignments.
Examination: Formal
Contact HoursLecture: for 2 hour(s) per Week for Full Term
Computer Lab: for 2 hour(s) per Week for Full Term
Timetables2014 Course Timetables for ECON3007