This course builds on the basic econometric and quantitative techniques studied in the 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, and 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.
- Semester 1 - 2017
On successful completion of the 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.
This course includes but is not limited to the following topics:
- Basic regression concepts
- Properties of estimators
- Violations of classical assumptions
- Estimation and hypothesis testing
- Simple linear and multiple regression modelling
- Simultaneous equations models
- Instrumental variable models
- Limited dependent variable models
- Time series analysis
- Panel data analysis
ECON1003 and ECON2003
In Term Test: In term tests
In Term Test: Mid Semester Test
Project: Research Project
Formal Examination: Final Examination
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.