Available in 2022
Course code

ECON2003

Units

10 units

Level

2000 level

Course handbook

Description

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.


Availability

Newcastle City Precinct

  • Semester 2 - 2022

Learning outcomes

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.


Content

The course includes, but is not restricted to, the following topics:

  1. Linear models and matrix algebra
  2. Rules of differentiation and their applications
  3. Constrained optimisation
  4. Integral calculus and differential equations
  5. The classical linear regression model (simple and multiple) and hypothesis testing
  6. Violations of the assumptions of the classical linear regression model
  7. Dynamic econometric models
  8. Simultaneous equaton models
  9. Time-series econometrics

Requisite

Students must have successfully completed STAT1060 or ECON1003.


Assessment items

In Term Test: In class tests

In Term Test: Mid-semester test

Formal Examination: Final exam


Contact hours

Newcastle City Precinct

Workshop

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.