Master of Applied Econometrics (MC-AEMTRCS)
Masters (Coursework)Year: 2022 Delivered: On Campus (Parkville)
About this course
Coordinator
Andrew Clarke
Contact
Current Students
General information: ask.unimelb.edu.au
Contact Stop 1
Future Students
Further information: study.unimelb.edu.au/
Overview
| Award title | Master of Applied Econometrics |
|---|---|
| Year & campus | 2022 — Parkville |
| CRICOS code | 107111D |
| Fees information | Subject EFTSL, level, discipline and census date |
| Study level & type | Graduate Coursework |
| AQF level | 9 |
| Credit points | 150 credit points |
| Duration | 18 months full-time or 36 months part-time |
The Master of Applied Econometrics is a three-semester program that focuses on the practical application of advanced econometric modelling techniques. The program provides graduates with extensive knowledge of the most recent research in the disciplines of economics and econometrics, equipping graduates with the skills required to guide and inform evidence-based decision making in a data-driven manner. It consists of an expansive coursework component covering a suite of econometrics offerings including financial econometrics, macroeconometrics, microeconometrics and time series analysis.
Entry requirements
1. In order to be considered for entry, applicants must have completed:
- An undergraduate or postgraduate degree with a strong analytical and mathematical component with a major in social science, commerce, or stem with a weighted average mark of at least H2B (70%). A first-year statistics subject must have been completed; and
- A 500-word personal statement outlining why they wish to be considered for the course; and
- The Graduate Record Examination (GRE) unless the applicant has completed an undergraduate degree in Australia or New Zealand or met one of the approved conditions for GRE exemption.
Meeting these requirements does not guarantee selection.
2. In ranking applications, the Selection Committee will consider:
- Prior academic performance; and
- The GRE score unless the applicant has completed an undergraduate degree in Australia or New Zealand or met one of the approved conditions for GRE exemption; and
- The personal statement.
3. The Selection Committee may seek further information to clarify any aspect of an application in accordance with the Academic Board rules on the use of selection instruments.
4. Applicants are required to satisfy the university’s English language requirements for graduate courses. For those applicants seeking to meet these requirements by one of the standard tests approved by the Academic Board, performance Band 6.5 is required.
Inherent requirements (core participation requirements)
Inherent requirements are the abilities, knowledge and skills needed to complete this course that must be met by all students. For information on the inherent requirements specific to this course contact the course/program coordinator. In some circumstances reasonable adjustments may be available to enable students to meet these requirements while still preserving the academic integrity of the university's learning, assessment and accreditation processes. For more information on how to seek these adjustments refer to the Student Equity and Disability Support website: https://services.unimelb.edu.au/student-equity/home
Intended learning outcomes
On completion of this course, graduates should be able to:
1. Learning Goal
Graduates of this degree will develop skills in the practical application of econometric modelling techniques.
Learning objectives to achieve this goal
On successful completion of this degree students should be able to:
- Apply the appropriate economic concepts to formulate plans of analysis that employ modern econometric practice
- Apply modern econometric methods covering time series analysis, financial econometrics, microeconometrics, or macroeconometrics
- Interpret and critically evaluate applied economics research literature; demonstrate programming skills and numerical methods
- Apply methods learned to address policy and business decision questions.
2. Learning Goal
Graduates of this degree will develop analytical skills in the application of econometric theory, knowledge, principles, techniques, and data.
Learning objectives to achieve this goal
On successful completion of this degree students should be able to:
- Describe and explain the body of knowledge, including recent developments in the applied econometrics literature
- Critically evaluate and employ applied techniques
- Synthesise the best practice techniques in empirical modelling.
3. Learning Goal
Graduates of this degree will be independent in their choice, planning, implementation and reporting of an empirical project involving the application of economic analysis and econometric techniques.
Learning objectives to achieve this goal
On successful completion of this degree students should be able to:
- Evaluate the applicability of various theories and techniques to economic policy or decision-making related problems
- Employ a range of econometric techniques pertinent to the evaluation of evidence in economics
- Conduct econometric analysis confirming with academic ethical principles.
4. Learning Goal
Graduates of this degree will be problem solvers capable of explaining, applying, and critically evaluating the use of econometric models for description and hypothesis testing, forecasting, assessing different economic policy and decision-making options.
Learning objectives to achieve this goal
On successful completion of this degree students should be able to:
- Generate and interpret results of econometric analysis using a range of econometric packages
- Analyse and evaluate the key hypotheses, forecasts, and options in either economic policy or decision making.
Generic skills
On successful completion of this course students should have improved the following generic skills:
- Critical evaluation of ideas, views, and evidence in support of an argument or proposition
- Problem solving through the application of appropriate economic theories, principles, and the econometric analysis of data
- Communication of economic and econometrics ideas, theories, and responses to peers and the wider community
- Ability to synthesize ideas, theories, and data in developing solutions to economics problems
- Ethical approaches to research and practice
- Research including the retrieval of information from a variety of sources
- Receptiveness to ideas and independence in thinking.
Graduate attributes
On successful completion of this degree graduates will be:
- Receptive to alternate ideas through a review of the literature and through class participation and assessment
- Ethical in their approach to research and work practices
- Advanced in their use, critical evaluation and testing of econometric models and in forecasting and assessing economic policy and decision-making options
- Adept at reasoning in econometrics
- Skilled in undertaking independent research using applied econometric techniques
- Critically analytical through the evaluation of ideas, views and evidence contained in the econometric research literature
- Skilled in working effectively with computer software for the analysis of data
- Adept at retrieval, summary, and interpretation of economic and econometric information through class exercises and assessment
- Able to apply and synthesise econometric ideas, theory, models, and evidence
- Effective communicators of results from econometric analysis.
Course structure
The Master of Applied Econometrics (150-point program) program consists of 12 subjects, comprising five core subjects, five elective subjects and two capstone subjects.
Semester 1, Year 1
Students must complete all of the following core subjects:
| Code | Name | Study period | Credit Points |
|---|---|---|---|
| BUSA90520 | Data Wrangling and Visualisation | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| Code | Name | Study period | Credit Points |
|---|---|---|---|
| ECOM90001 | Basic Econometrics | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| Code | Name | Study period | Credit Points |
|---|---|---|---|
| ECOM90024 | Forecasting in Economics and Business | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
Students must complete one elective subject chosen from:
| Code | Name | Study period | Credit Points |
|---|---|---|---|
| ECON90016 | Environmental Economics and Strategy | Not available in 2022 | 12.5 |
| ECON90034 | Economics of Finance |
Semester 1 (Dual-Delivery - Parkville)
Semester 2 (Dual-Delivery - Parkville)
|
12.5 |
| ECON90047 | Macroeconomics 2 | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| Code | Name | Study period | Credit Points |
|---|---|---|---|
| ECON90075 | Economic Analysis and Policy | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| ECON30001 | International Trade Policy | Not available in 2022 | 12.5 |
| ECON30005 | Money and Banking | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| ECON30010 | Microeconomics | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| ECON30020 | Mathematical Economics | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| ECON30024 | Economics of Financial Markets | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
Or any other elective subject approved by the Program Director
Semester 2, Year 1
Students must complete the following capstone subject:
NOTE: Students who have completed a subject equivalent to ECOM90002 Econometrics 2 should select two subjects from ECOM90003 Applied Microeconometric Modelling, ECOM90004 Time Series Analysis, and ECON9033 Quantitative Analysis of Finance I. Students are strongly recommended to contact the Program Director prior to finalising their study plan.
| Code | Name | Study period | Credit Points |
|---|---|---|---|
| ECOM90002 | Econometrics 2 |
Semester 1 (Dual-Delivery - Parkville)
Semester 2 (Dual-Delivery - Parkville)
|
12.5 |
Students must complete the following core subject:
| Code | Name | Study period | Credit Points |
|---|---|---|---|
| ECOM90025 | Advanced Data Analysis | Semester 2 (Dual-Delivery - Parkville) |
12.5 |
Students must complete one of the following core subjects:
| Code | Name | Study period | Credit Points |
|---|---|---|---|
| ECOM90003 | Applied Microeconometric Modelling | Semester 2 (Dual-Delivery - Parkville) |
12.5 |
| ECOM90004 | Time Series Analysis and Forecasting | Semester 2 (Dual-Delivery - Parkville) |
12.5 |
| ECON90033 | Quantitative Analysis of Finance I |
Semester 1 (Dual-Delivery - Parkville)
Semester 2 (Dual-Delivery - Parkville)
|
12.5 |
Students must complete one elective subject chosen from:
| Code | Name | Study period | Credit Points |
|---|---|---|---|
| ECON90034 | Economics of Finance |
Semester 1 (Dual-Delivery - Parkville)
Semester 2 (Dual-Delivery - Parkville)
|
12.5 |
| ECON90045 | Microeconomics 2 | Semester 2 (Dual-Delivery - Parkville) |
12.5 |
| Code | Name | Study period | Credit Points |
|---|---|---|---|
| ECON90080 | Macroeconomics | Semester 2 (Dual-Delivery - Parkville) |
12.5 |
Or any other elective subject approved by the Program Director
Semester 1, Year 2
Students complete one capstone subject chosen from:
| Code | Name | Study period | Credit Points |
|---|---|---|---|
| ECOM90007 | Macroeconometrics | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| ECOM90023 | Treatment Effects and Program Evaluation | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| ECON90010 | Quantitative Analysis of Finance II | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
Students must complete three elective subjects chosen from:
| Code | Name | Study period | Credit Points |
|---|---|---|---|
| ECOM90007 | Macroeconometrics | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| ECOM90013 | Econometrics 3 | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| ECOM90023 | Treatment Effects and Program Evaluation | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| ECON90010 | Quantitative Analysis of Finance II | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| Code | Name | Study period | Credit Points |
|---|---|---|---|
| BISY90017 | Quant. Decision Making & Optimisation | September (On Campus - Parkville) |
12.5 |
| BUSA90521 | Supply Chain Analytics | Not available in 2022 | 12.5 |
| BUSA90473 | Business Practicum |
Semester 1 (Dual-Delivery - Parkville)
Winter Term (On Campus - Parkville)
|
12.5 |
| BUSA90485 | Global Business Practicum |
Summer Term (Online)
Winter Term (On Campus - Parkville)
November (On Campus - Parkville)
|
12.5 |
| ECOM90020 | Computational Economics and Business | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| BUSA90525 | Business and Economics Internship |
January (Off Campus)
Summer Term (Off Campus)
Semester 1 (Off Campus)
Winter Term (Off Campus)
Semester 2 (Off Campus)
November (Off Campus)
|
12.5 |
Or any elective approved by the Program Director
Further study
The Master of Applied Econometrics is not intended to serve as a pathway to a Ph.D. program in Economics. Students who wish to pursue a Ph.D. in Economics may be able to transfer into the Master of Economics program after completing the first year of the Master of Applied Econometrics, provided they satisfy the entry requirements.
Last updated: 1 April 2023