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Handbook 1997 : Faculty of Economics and Commerce : Economics

316-316 Basic Econometrics

Note:

This subject, or 316-317 Econometrics, is one of the four subjects which students proceeding to an honours degree in Economics are required to take in either the third or fourth year of their course.

Coordinator:

Dr L Cameron

Prerequisite/s:

316-201 Intermediate Macro-economics or 316-202 Intermediate Microeconomics and 316-206 Statistical Method 2D or Quantitative Methods 2. Students may not gain credit for this subject and for 316-205 Statistical Method 2C/Introductory Econometrics or 316-317 Econometrics.

Timetable:

Semester 1

Contact:

Two 1-hour lectures, a 1-hour tutorial/seminar and an average of one hour of practice sessions a week

Objectives:

On completion of this subject students should be able to:

  • to apply the classical model of ordinary least squares to data sets drawn from economics, finance and accounting using single and multiple regression equations;

  • test hypotheses about the relationship between variables;

  • understand the consequences of any of the classical assumptions being violated and to test for such violations;

  • estimate models in the presence of non-classical errors and stochastic explanatory variables;

  • be able to apply simple models to analyse the time series properties of economic and financial data sets.

Content:

Multiple regression analysis and its use in economics. Topics include the properties of the estimators, hypothesis testing, specification error, multicollinearity, dummy variables, heteroskedasticity, serial correlation, and an introduction to simultaneous systems. All theoretical concepts will be illustrated by applied examples.

Assessment:

A 2-hour examination (70%); empirical exercises (30%).

Prescribed Texts:

  • Ramanthan R, Introductory Econometrics with Applications, Harcourt Brace Jovanovich.
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Handbook 1997 : Faculty of Economics and Commerce : Economics 
Status:                   OFFICIAL 1997
Last Modified:            Wednesday March 12 3:36 pm
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Email Enquiries:          Course_Information@registrar.unimelb.edu.au
Copyright © University of Melbourne 1997.