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Macroeconometrics (ECOM90007)

Graduate courseworkPoints: 12.5On Campus (Parkville)

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Overview

Year of offer2019
Subject levelGraduate coursework
Subject codeECOM90007
Campus
Parkville
Availability
Semester 1
FeesSubject EFTSL, Level, Discipline & Census Date

This subject provides an advanced discussion of the main techniques used in macroeconometric analysis. The topics covered in this course will be selected from the following broad areas: (1) Univariate analysis of stationary and non stationary series including ARIMA possesses, unobserved components models, business cycle turning point extraction, regime switching and time varying volatility. (2) Estimation of single equation models with a focus on Euler equations that emerge via optimization. (3) Estimating multiple equation models including reduced form and structural VARs and factor models. In covering these topics the course will focus on developing the skills to undertake rigorous applied macroeconometric research. Particular attention will be paid to the issues that arise when the time series being studied is non-stationary. Successful completion of the course will require use of the computer language GAUSS.

Intended learning outcomes

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

  • Apply the main techniques that are used in macroeconometric analysis;
  • Discuss the econometric theory behind each technique;
  • Identify the main pitfalls in applying the techniques;
  • Discuss how the techniques used relate to macroeconomic theory.

Generic skills

On successful completion of this subject, students should have improved the following generic skills:

  • Evaluation of ideas, views and evidence
  • Synthesis of ideas, views and evidence
  • Strategic thinking
  • Critical thinking
  • Accessing economic and other information
  • Summary and interpretation of information
  • Application of Windows software
  • Using computer programs
  • Statistical reasoning
  • Problem solving skills
  • Written communication

Last updated: 11 November 2018