This course builds upon the first year course (ECON1003) through: (i) the development and application of quantitative methods and techniques; and (ii) the introduction of key concepts, models and issues in the classical linear regression model, as well as the introduction of recent developments of time-series econometrics and their applications to economics and finance. Accordingly, the course first provides a brief review of linear models; matrix algebra; rules of differentiation; constrained optimisation; integration and differential equations; and other related topics. This is followed by the introduction of the classical linear regression model; hypothesis testing; forecasting; issues in the violations of classical linear regression model. Other topics include: dynamic econometric models; simultaneous equation models; time-series econometrics; variance modelling; vector autoregressive models; and panel data models. For estimation and testing of econometric models, Eviews 9.0 or a higher version is used.
Newcastle City Precinct
- Semester 2 - 2022
On successful completion of the course students will be able to:
1. Formulate and apply quantitative methods and techniques to such disciplines as accounting, economics and finance;
2. Develop and apply econometric models and techniques to undertake research in economics and finance;
3. Use econometric software such as Eviews for estimation of econometric models, diagnostic testing of models, and forecasting.
The course includes, but is not restricted to, the following topics:
- Linear models and matrix algebra
- Rules of differentiation and their applications
- Constrained optimisation
- Integral calculus and differential equations
- The classical linear regression model (simple and multiple) and hypothesis testing
- Violations of the assumptions of the classical linear regression model
- Dynamic econometric models
- Simultaneous equaton models
- Time-series econometrics
Students must have successfully completed STAT1060 or ECON1003.
In Term Test: In class tests
In Term Test: Mid-semester test
Formal Examination: Final exam
Newcastle City Precinct
Face to Face On Campus 2 hour(s) per Week for Full Term
Student 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.
The University of Newcastle acknowledges the traditional custodians of the lands within our footprint areas: Awabakal, Darkinjung, Biripai, Worimi, Wonnarua, and Eora Nations. We also pay respect to the wisdom of our Elders past and present.