Econometric Modelling

Course code ECON3450Units 10Level 3000Faculty of Business and LawNewcastle Business School

Whether in government or business, econometric modelling techniques are used to generate results that aid strategic economic decision making in uncertain contexts. The Econometric Modelling course provides a thorough and critical coverage of all the modern econometric approaches to modelling time series and cross-section economic and business data and employs diagnostic testing of the estimated models. Students engage in selecting and applying appropriate techniques to solve problems, justifying and communicating conclusions using economic arguments, theories and models

Not available in 2015

ObjectivesUpon successful completion of this course it is intended you will be able to:
1. Apply an extended understanding of a range of econometric modelling
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 to complete econometric modelling inquiry,
employing statistical techniques, analysing data and communicating results
ContentCourse contents include, but not restricted to, the following topics. Emphasis may vary from topic to topic. Selected topics may also vary from year to year.

1. Linear regression model with one regressor and hypothesis tests
2. Linear regression with multiple regressors and hypothesis tests
3. Non-linear regression functions
4. Assessing studies based on multiple regression (model validation)
5. Serial correlation
6. Heteroskedasticity
7. Simultaneous equations system, estimation and policy analysis
8. Instrumental variables regression
9. Time series analysis (VAR; cointegration; ARCH/GARCH modelling; etc)
10. Regression with panel-data
11. Regression with binary dependent-variable
12. Advanced econometric theory of regression analysis
Replacing Course(s)ECON3400
TransitionStudents who have already undertaken ECON3400 will not be allowed to undertake ECON3450.
Industrial Experience0
Assumed KnowledgeECON1130
Modes of DeliveryInternal Mode
Teaching MethodsLecture
Computer Lab
Assessment Items
Other: (please specify)The assessment for this course will consist of a combination of the following:
Examination: Class - Mid-semester test
Examination: Formal - Final Examination
Group/tutorial participation and contribution: - Tutorial Exercises
Project: Project Article review
Contact HoursLecture: for 2 hour(s) per Week for Full Term
Computer Lab: for 2 hour(s) per Week for Full Term