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Basic Econometrics (ECOM30001)
Undergraduate level 3Points: 12.5On Campus (Parkville)
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable (login required)(opens in new window)
Contact information
Semester 1
Andrew Clarke: andrew.clarke@unimelb.edu.au
Overview
Availability | Semester 1 |
---|---|
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, panel data and methods for discrete dependent variables. These methods are consolidated through a Capstone project involving hypothesis-formation, real-world data collection and writing-up the results in a formal report.
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
- Formulate hypotheses about economic phenomena, collect real-world data, apply econometric methods to test hypotheses, and draw evidenced-based conclusions or implications for economic theory and/or public policy
Generic skills
On successful completion of this subject, students should have improved the following 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: 19 March 2024
Eligibility and requirements
Prerequisites
One of
Code | Name | Teaching period | Credit Points |
---|---|---|---|
ECON20003 | Quantitative Methods 2 |
Summer Term (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
Semester 1 (On Campus - Parkville)
|
12.5 |
MAST20005 | Statistics |
Summer Term (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
|
12.5 |
AND
One of
Code | Name | Teaching period | Credit Points |
---|---|---|---|
ECON20001 | Intermediate Macroeconomics | Semester 2 (On Campus - Parkville) |
12.5 |
ECON20002 | Intermediate Microeconomics |
Summer Term (On Campus - Parkville)
Semester 1 (On Campus - Parkville)
|
12.5 |
FNCE10002 | Principles of Finance |
Semester 1 (On Campus - Parkville)
Semester 2 (On Campus - Parkville)
Summer Term (On Campus - Parkville)
|
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 (On Campus - Parkville) |
12.5 |
ECOM20001 | Econometrics 1 |
Semester 1 (On Campus - Parkville)
Semester 2 (On Campus - 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: 19 March 2024
Assessment
Description | Timing | Percentage |
---|---|---|
Capstone Project Proposal
| Week 4 | 5% |
Mid-semester test
| Week 6 | 10% |
Capstone project progress report
| Week 8 | 10% |
Capstone Project Submission Report
| Week 12 | 25% |
End-of-semester Examination
| During the examination period | 50% |
Last updated: 19 March 2024
Dates & times
- Semester 1
Principal coordinator Andrew Clarke Mode of delivery On Campus (Parkville) Contact hours Two 1-hour lectures and one 1-hour tutorial/seminar per week Total time commitment 170 hours Teaching period 26 February 2024 to 26 May 2024 Last self-enrol date 8 March 2024 Census date 3 April 2024 Last date to withdraw without fail 3 May 2024 Assessment period ends 21 June 2024 Semester 1 contact information
Andrew Clarke: andrew.clarke@unimelb.edu.au
Time commitment details
170 hours
What do these dates mean
Visit this webpage to find out about these key dates, including how they impact on:
- Your tuition fees, academic transcript and statements.
- And for Commonwealth Supported students, your:
- Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.
Last updated: 19 March 2024
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: 19 March 2024