Econometrics (9540.1)

Availability

Syllabus

This unit will provide students with a simple and straightforward introduction to econometrics. Econometrics is an application of statistical procedures to the testing of hypotheses about economic relationships and to the estimation of parameters. Regression analysis is the primary procedure commonly used by researchers and managers whether they are employed within the goods or the resources market and/or within agriculture, the manufacturing, the services, or the information sectors of an economy.

Learning Outcomes

Upon successful completion of this unit, students will be able to:

1. Construct, test, and analyse econometric models, using variables and relationships commonly found in studies of economic theory;

2. Collect, organise, and analyse economic data, and interpret results from statistical analyses;

3. Identify the desirable properties of estimators;

4. Identify key classical assumptions in the field of econometrics, explain their significance, and describe the effects that violations of the classical assumptions can have;

5. Use the least squares method in evaluating the relationship of one explanatory variable to the dependent variable and the relationships of multiple explanatory variable to the dependent variable; and

6. Interpret key statistics and diagnostics typically generated by software.

Contact Hours

150 learning hours in online self-paced mode.

Prerequisites

9518 Foundations of Microeconomics OR 6355 Introduction to Economics

Corequisites

None.

Assumed Knowledge

NONE

Incompatible Units

NONE.

Equivalent Units

NO.