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Basic Econometrics (ECOM30001)

Undergraduate level 3Points: 12.5On Campus (Parkville)

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Overview

Year of offer2019
Subject levelUndergraduate Level 3
Subject codeECOM30001
Campus
Parkville
Availability
Semester 1
FeesSubject EFTSL, Level, Discipline & Census Date

This subject examines multiple regression analysis and its use in economics, management, finance, accounting and marketing. Topics will include the properties of estimators, hypothesis testing, specification error, multicollinearity, dummy variables, heteroskedasticity, serial correlation. Empirical assignments undertaken by the student form an integral part of the subject.

Intended learning outcomes

On successful completion of this subject students should be able to:

  • Apply the classical model of ordinary least squares to data sets drawn from economics, finance, accounting and management using single and multiple regression equations;
  • Test hypotheses concerning the relationship between variables;
  • Explain in detail the consequences of the violation of any one of the classical assumptions;
  • Test for violations of the classical assumptions;
  • Estimate models in the presence of non-classical errors and stochastic explanatory variables;
  • Diagnose model misspecification using the most appropriate tests, and where appropriate identify the appropriate remedial actions;
  • Use computer software to perform simple data descriptions and to graph relationships between variables, to estimate econometric models using OLS and Instrumental Variables, and to estimate simple dynamic models;
  • Apply econometric methods to real world data and perform diagnostic testing to ensure the model is adequately specified.

Generic skills

  • High level of development: written communication; application of theory to practice; interpretation and analysis; critical thinking; synthesis of data and other information; evaluation of data and other information; use of computer software.

  • Moderate level of development: problem solving; statistical reasoning; accessing data and other information from a range of sources.

  • Some level of development: oral communication; collaborative learning; receptiveness to alternative ideas.

Eligibility and requirements

Prerequisites

One of:

Code Name Teaching period Credit Points
ECON20003 Quantitative Methods 2
Summer Term
Semester 1
Semester 2
12.5
MAST20005 Statistics
Summer Term
Semester 2
12.5

And one of:

Code Name Teaching period Credit Points
ECON20001 Intermediate Macroeconomics
Semester 2
12.5
ECON20002 Intermediate Microeconomics
Summer Term
Semester 1
12.5
FNCE20001 Business Finance
Summer Term
Semester 1
12.5
FNCE10002 Principles of Finance
Summer Term
Semester 1
Semester 2
12.5

Corequisites

None

Non-allowed subjects

Students may not gain credit for both

Code Name Teaching period Credit Points
ECOM30001 Basic Econometrics
Semester 1
12.5
and either
Code Name Teaching period Credit Points
ECOM90001 Basic Econometrics
Semester 1
12.5
or
Code Name Teaching period Credit Points
ECOM20001 Econometrics 1
Semester 1
Semester 2
12.5
.

Recommended background knowledge

Please refer to Prerequisites and Corequisites.

Core participation requirements

The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.

Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home

Assessment

Description

  • A 2-hour end of semester examination, end of semester, (60%)
  • A 1000 word assignment, due week 4, (10%)
  • A 40-minute mid-semester multiple choice test, due week 7, (10%)
  • A 1000 word assignment, due week 10, (10%)
  • Tutorial participation, (10%)
  • To pass this subject students must pass the end of semester examination.

Dates & times

  • Semester 1
    Principal coordinatorAndrew Clarke
    Mode of deliveryOn Campus — Parkville
    Contact hoursTwo 1-hour lectures and a 1-hour tutorial/seminar per week
    Total time commitment170 hours
    Teaching period 4 March 2019 to 2 June 2019
    Last self-enrol date15 March 2019
    Census date31 March 2019
    Last date to withdraw without fail10 May 2019
    Assessment period ends28 June 2019

    Semester 1 contact information

Time commitment details

Estimated total time commitment of 170 hours per semester.

Further information

  • Texts

    Prescribed texts

    You will be advised of prescribed texts by your lecturer.

  • Breadth options
  • Available through the Community Access Program

    About the Community Access Program (CAP)

    This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.

    Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.

  • Available to Study Abroad and/or Study Exchange Students

    This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.

Last updated: 10 April 2019