Econometrics of Markets and Competition (ECOM40007)
HonoursPoints: 12.5On Campus (Parkville)
Overview
| Availability | Semester 2 |
|---|---|
| Fees | Look up fees |
This course teaches students how to build econometric models from economic theory to investigate how markets operate, and evaluate policy-relevant questions. Applications of econometric tools developed in this course will be highlighted in various fields of economics including industrial organisation, public economics, health, and others. Examples of topics covered include: firms' use of price discrimination as a profit-maximising strategy; measuring the welfare effects of mergers for antitrust analysis; identifying strategic interaction amongst governments and its impact on policy decisions; and quantifying moral hazard and adverse selection in health insurance markets. Basic topics in numerical analysis will also be covered, including optimisation, numerical integration, and numerical differentiation. The computer software used is MATLAB.
Intended learning outcomes
- Estimate structural econometric models and use counterfactual analysis to assess policy questions
- Understand basic identification challenges in estimating the parameters of economic models
- Learn basic programming skills and numerical methods
- Apply methods learned in the course to address policy questions for an industry
Generic skills
- High level of development: written communication; problem solving; statistical reasoning; 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; accessing data and other information from a range of sources; receptiveness to alternative ideas.
- Some level of development: collaborative learning; team work.
Last updated: 3 November 2022
Eligibility and requirements
Prerequisites
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ECON40001 | Advanced Microeconomics | Semester 1 (On Campus - Parkville) |
12.5 |
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ECOM40006 | Econometrics 3 | Semester 1 (On Campus - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
Students may not gain credit for both
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ECOM40007 | Econometrics of Markets and Competition | Semester 2 (On Campus - Parkville) |
12.5 |
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ECOM90017 | Econometrics of Markets and Competition | Semester 2 (On Campus - Parkville) |
12.5 |
Recommended background knowledge
Please refer to Prerequisites. Computer programming experience in MATLAB, C, Java or some other language is helpful, but not necessary.
Inherent requirements (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
Last updated: 3 November 2022
Assessment
Additional details
3 hour end-of-semester exam (60%)
4 class assignments in computer code totalling a minimum of 40 hours work (10 hours per assignment) (40%)
- Assignment 1 - week 3
- Assignment 2 - week 5
- Assignment 3 - week 9
- Assignment 4 - week 12
To pass this subject students must pass the end of semester examination.
Last updated: 3 November 2022
Dates & times
- Semester 2
Principal coordinator Aaron Barkley Mode of delivery On Campus (Parkville) Contact hours Seminars, or lectures and tutorials totalling three hours per week Total time commitment 170 hours Teaching period 29 July 2019 to 27 October 2019 Last self-enrol date 9 August 2019 Census date 31 August 2019 Last date to withdraw without fail 27 September 2019 Assessment period ends 22 November 2019 Semester 2 contact information
Time commitment details
170 Hours
Last updated: 3 November 2022
Further information
- Texts
Last updated: 3 November 2022