Econometrics (12216.1)

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 (with one and multiple regressors), hypothesis testing, regression with panel data, regression with binary dependent variable and time series regression and forecasting.

Learning outcomes

After successful completion of this unit, students will be able to:
1. Analyse real-world economic and financial data using different econometric methods and interpret the results;
2. Apply econometric software to conduct empirical econometric analysis focused on solving a range of real world problems in finance and economics;
3. Evaluate the limitations of commonly used econometric models to inform the selection of appropriate empirical strategies to analyse real data; and
4. Synthesise the outputs of various statistical and econometric models into reports to help stakeholders make informed decisions.

Graduate attributes

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
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - take pride in their professional and personal integrity
2. UC graduates are global citizens - adopt an informed and balanced approach across professional and international boundaries
2. UC graduates are global citizens - understand issues in their profession from the perspective of other cultures
2. UC graduates are global citizens - make creative use of technology in their learning and professional lives
3. UC graduates are lifelong learners - reflect on their own practice, updating and adapting their knowledge and skills for continual professional and academic development

Prerequisites

12205 Quantitative Methods

Corequisites

None.

Incompatible units

None.

Equivalent units

6541 Econometrics and 11227 Econometrics

Assumed knowledge

Students should have knowledge of basic statistics contained in the pre-requisite unit 12205 Quantitative Methods.