Macroeconometrics (ECOM90007)
Graduate courseworkPoints: 12.5Dual-Delivery (Parkville)
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Overview
| Availability | Semester 1 - Dual-Delivery |
|---|---|
| Fees | Look up fees |
Decision making in central banks, consulting firms, and other institutions relies on advanced empirical analyses of economic data. This subject provides a cutting-edge econometric methodology for empirical macroeconomic research. The focus is put on modelling unit-root nonstationary processes that describe many economic time series well. Applications of the considered econometric techniques include forecasting and nowcasting macroeconomic variables including using big data, estimating the effects of monetary policy, as well as modelling of trend inflation. Topics in Climate Change include forecasting CO2 emissions for the 21st century and modelling long-run trends in global temperatures. Particular attention is paid to developing programming skills that allow for performing rigorous applied macroeconomic research in R.
Intended learning outcomes
On successful completion of this subject students should be able to:
- Apply quantitative analysis to model and forecast the essential variables and quantities for the empirical macroeconomic research.
- Understand, derive, and program estimation algorithms for univariate and multivariate structural models and for economically interpretable quantities such as impulse response functions and forecast error variance decompositions, inflation trend, output gap, etc.
- Comprehend and apply Bayesian analysis of unit-root nonstationary variables in uni- and multi-variate systems.
- Forecast economic variables of interest, with the focus on density forecasting, using big data with dedicated models applying appropriate numerical techniques that make the task computationally feasible.
- Use structural multivariate models to identify the monetary policy shock and estimate its effect on the real business cycle indicators.
- Understand and estimate state-space models in macroeconomic applications.
- Apply macroeconomic modeling in climate change topics.
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: 12 November 2022
Eligibility and requirements
Prerequisites
One of
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ECOM30002 | Econometrics 2 |
Semester 1 (Dual-Delivery - Parkville)
Semester 2 (Dual-Delivery - Parkville)
|
12.5 |
| ECOM90002 | Econometrics 2 |
Semester 2 (Dual-Delivery - Parkville)
Semester 1 (Dual-Delivery - Parkville)
|
12.5 |
Corequisites
None
Non-allowed subjects
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ECOM40003 | Macroeconometrics | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
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: 12 November 2022
Assessment
| Description | Timing | Percentage |
|---|---|---|
Assignment
| Week 4 | 13% |
Assignment
| Week 8 | 13% |
Assignment
| Week 12 | 14% |
End-of-Semester Examination
| During the examination period | 60% |
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: 12 November 2022
Dates & times
- Semester 1
Principal coordinator Tomasz Wozniak Mode of delivery Dual-Delivery (Parkville) Contact hours 2 x 1.5 hour recorded lecture. 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: 12 November 2022
Further information
- Texts
- Subject notes
- Related Handbook entries
This subject contributes to the following:
Type Name Course Master of Economics Course Master of Applied Econometrics - 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.
Please note Single Subject Studies via Community Access Program is not available to student visa holders or applicants
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
Last updated: 12 November 2022