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  3. Econometrics 1

Econometrics 1 (ECOM20001)

Undergraduate level 2Points: 12.5On Campus (Parkville)

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Year of offer2019
Subject levelUndergraduate Level 2
Subject codeECOM20001
Semester 1
Semester 2
FeesSubject EFTSL, Level, Discipline & Census Date

This subject provides an introduction to econometrics, which involves using data and statistical methods to estimate economic relationships, test economic theory, and predict the impact of policy. Topics covered include probability and statistics, single linear regression, multiple linear regression, non-linear regression, model internal and external validity, field and natural experiments, and time series models. Econometric methodology and application will be motivated and illustrated through applications to economics, accounting, finance, marketing, and management.

Intended learning outcomes

  • Apply least-squares method of estimation and inference to the context of single and multiple linear regression.
  • Use statistical program to estimate econometric models, test hypotheses, and undertake forecasting exercises.
  • Understand and explain various problems that arise in the development and interpretation of econometric models including multicollinearity, specification error, heteroskedasticity, autocorrelation, internal validity and external validity.

Generic skills

  • High level of development: written communication; collaborative learning; problem solving; team work; statistical reasoning; application of theory to practice; interpretation and analysis; critical thinking; synthesis of data and other information; use of computer software.

  • Moderate level of development: oral communication; evaluation of data and other information; accessing data and other information from a range of sources; receptiveness to alternative ideas.

Last updated: 11 October 2019