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Basic Econometrics (ECOM30001)
Undergraduate level 3Points: 12.5Dual-Delivery (Parkville)
From 2023 most subjects will be taught on campus only with flexible options limited to a select number of postgraduate programs and individual subjects.
To learn more, visit COVID-19 course and subject delivery.
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Semester 1
Overview
| Availability | Semester 1 - Dual-Delivery |
|---|---|
| Fees | Look up fees |
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.
Last updated: 20 May 2023
Eligibility and requirements
Prerequisites
One of
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ECON20003 | Quantitative Methods 2 |
Semester 1 (Dual-Delivery - Parkville)
Summer Term (Online)
Semester 2 (Dual-Delivery - Parkville)
|
12.5 |
| MAST20005 | Statistics |
Summer Term (Dual-Delivery - Parkville)
Semester 2 (Dual-Delivery - Parkville)
|
12.5 |
AND
One of
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ECON20001 | Intermediate Macroeconomics | Semester 2 (Dual-Delivery - Parkville) |
12.5 |
| ECON20002 | Intermediate Microeconomics |
Semester 1 (Dual-Delivery - Parkville)
Summer Term (Online)
|
12.5 |
| FNCE10002 | Principles of Finance |
Semester 1 (Dual-Delivery - Parkville)
Semester 2 (Dual-Delivery - Parkville)
Summer Term (Online)
|
12.5 |
FNCE20001 Business Finance
Corequisites
None
Non-allowed subjects
Students who complete this subject cannot also gain credit for
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ECOM90001 | Basic Econometrics | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
| ECOM20001 | Econometrics 1 |
Semester 1 (Dual-Delivery - Parkville)
Semester 2 (Dual-Delivery - Parkville)
|
12.5 |
Recommended background knowledge
Please refer to Prerequisites and Corequisites.
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: 20 May 2023
Assessment
| Description | Timing | Percentage |
|---|---|---|
Assignment 1
| Week 4 | 10% |
Mid-semester test
| Week 7 | 10% |
Assignment 2
| Week 10 | 10% |
End-of-semester Examination
| During the examination period | 70% |
Additional details
Important online examination information: This examination is the equivalent of a 2-hour assessment; however, students are provided with 3-hours to accommodate the time that will be required for typesetting of mathematical expressions and the uploading of documents.
Last updated: 20 May 2023
Dates & times
- Semester 1
Principal coordinator Andrew Clarke Mode of delivery Dual-Delivery (Parkville) Contact hours Two 1-hour lectures and a 1-hour tutorial/seminar per week Total time commitment 170 hours Teaching period 28 February 2022 to 29 May 2022 Last self-enrol date 11 March 2022 Census date 31 March 2022 Last date to withdraw without fail 6 May 2022 Assessment period ends 24 June 2022 Semester 1 contact information
Time commitment details
Estimated total time commitment of 170 hours per semester.
Last updated: 20 May 2023
Further information
- Texts
Prescribed texts
You will be advised of prescribed texts by your lecturer.
- Related Handbook entries
This subject contributes to the following:
Type Name Major Economics - Breadth options
This subject is available as breadth in the following courses:
- Bachelor of Arts
- Bachelor of Biomedicine
- Bachelor of Design
- Bachelor of Environments
- Bachelor of Fine Arts (Acting)
- Bachelor of Fine Arts (Animation)
- Bachelor of Fine Arts (Dance)
- Bachelor of Fine Arts (Film and Television)
- Bachelor of Fine Arts (Music Theatre)
- Bachelor of Fine Arts (Production)
- Bachelor of Fine Arts (Screenwriting)
- Bachelor of Fine Arts (Theatre)
- Bachelor of Fine Arts (Visual Art)
- Bachelor of Music
- Bachelor of Science
- 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: 20 May 2023