Econometrics (11227.1)

This unit deals with econometric models and their application to problems in economics, finance and business. The unit builds on basic statistics concepts covered in an introductory statistics course. The focus is mainly on practical issues concerned with specifying, estimating and testing econometric models using a computer package. Topics covered in the unit include linear regression models (with one and multiple regressors), hypothesis testing, regression with limited dependent variable or time series regression and forecasting.

Learning outcomes

After successful completion of this unit, students will be able to:
1. Use econometric models and methods to analyse and interpret real data in finance and economics;
2. Manipulate econometric software to conduct empirical econometric analysis focused on solving a range of real world problems in finance and economics;
3. Identify the limitations of commonly used econometric models; and
4. Incorporate the outputs of various statistical and econometric models in reports to stakeholders, in ways that assist them to make decisions.

Graduate attributes

1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
1. UC graduates are professional - communicate effectively
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
1. UC graduates are professional - work collaboratively as part of a team, negotiate, and resolve conflict
3. UC graduates are lifelong learners - adapt to complexity, ambiguity and change by being flexible and keen to engage with new ideas
3. UC graduates are lifelong learners - evaluate and adopt new technology

Prerequisites

11165 Quantitative Methods in Commerce

Corequisites

None.

Incompatible units

None.

Equivalent units

6541 Econometrics

Assumed knowledge

Students should have knowledge of basic statistics contained in the pre-requisite unit 'Quantitative Methods in Commerce'.