Master of Applied Econometrics (MC-APPECON) // Attributes, outcomes and skills

Intended learning outcomes

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 will 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, macroeconometrics and structural econometric modelling;
• Interpret and critically evaluate applied economics research literature; demonstrate programming skills and numerical methods; and
• 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 will be able to:

• Describe and explain the body of knowledge, including recent developments in the applied econometrics literature;
• Critically evaluate and employ applied techniques; and
• 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 will 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;
• Use evidence based research techniques to support decisions; and
• Demonstrate a capacity to successfully work independently with personal accountability.

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 will 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; and
• Effectively communicate findings from econometric analysis.

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; and
• 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 in econometrics reasoning;
• 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; and
• Effective communicators of results from econometric analysis.