This unit emphasises understanding the use of computing technology for data description and statistical inference. Both classical and modern statistical techniques such as bootstrapping will be introduced. Students will develop an appreciation for both the usefulness and limitations of modern and classical theories in statistical inference. Computer software (e.g., Excel, StatKey) will be used for analysing real datasets.

Introductory Microeconomics addresses the economic decisions of individual firms and households and how these interact in markets. Economic issues are pervasive in contemporary Australian society. Introductory Microeconomics introduces students to the language and analytical framework adopted in Economics for the examination of social phenomena and public policy issues. Whatever one's career intentions, coming to grips with economic ideas is essential for understanding society, business and government. Students are given a comprehensive introduction to these ideas and are prepared for the advanced study of microeconomics in subsequent years. Prior knowledge of mathematics is assumed.

Over the last decade econometric modelling of financial data has become an important part of the operations of merchant banks and major trading houses and a vibrant area of employment for econometricians. This unit provides an introduction to some of the widely used econometric models for financial data and the procedures used to estimate them. Special emphasis is placed upon empirical work and applied analysis of real market data. Topics covered may include the statistical characteristics of financial data, the specification, estimation and testing of asset pricing models, the analysis of high frequency financial data, and the modelling of volatility in financial returns.

The aim of Intermediate Microeconomics is the development of theoretical and applied skills in economics. It covers applications and extensions of the theory of consumer choice, firm behaviour and market structure. Emphasis is given to the economics of information and choice under uncertainty; industry structures other than monopoly and perfect competition; markets for factors of production; general equilibrium and economic efficiency; market failure and the role of government. This unit provides a basis for the more specialised options that comprise third year economics.

This unit is comprised of lectures based upon the curriculum for ECOS2001 Intermediate Microeconomics, supported by a seminar for one hour a week. The content of lectures reflect a more analytical and critical treatment of the topics than ECOS2001. The topics, which build on the theory of consumer and firm behaviour and market structure, include game theory, oligopoly, general equilibrium and welfare, externalities and public goods and the economics of information.

This unit introduces micro- and macroeconomic models central for understanding the functioning of financial markets. Models of intertemporal choice and investment decisions provide a foundation for an understanding of asset pricing. The role financial institutions, regulators and money in explaining economic growth and the business cycle are examined.

Financial assets play a vital role coordinating the actions of savers and investors; consequently, they play a crucial role in creating wealth and facilitating economic activity. The aim of this unit is to explore the economic principles underlying: the pricing and development of financial assets; the trade-off between risk and return and the how investors construct portfolios in response to this trade-off. The focus is on the economics of financial markets: the factors of demand and supply; risk and uncertainty; incomplete contracts and renegotiation; and asymmetric information and its implications. We will emphasize the key aspects of markets for financial assets and the main differences to markets for consumption goods. The unit also examines the development of financial institutions and current issues in financial markets.

Agricultural production is typically risky, adding complexity to decision analysis and increasing need of risk consideration in agricultural policy design. This unit explores this theme, and has two related components: risk and risk management in agriculture, and issues of agricultural producer finance. These two components cover a broad range of topics that incorporate production risk and other sources of risk in agriculture.

The need to forecast or predict future values of economic time series arises frequently in many branches of applied economic and commercial work. It is, moreover, a topic which lends itself naturally to econometric and statistical treatment. The specific feature which distinguishes time series from other data is that the order in which the sample is recorded is of relevance. As a result of this, a substantial body of statistical methodology has developed. This unit provides an introduction to methods of time series analysis and forecasting. The material covered is primarily time domain methods designed for a single series and includes the building of linear time series models, the theory and practice of univariate forecasting and the use of regression methods for forecasting. Throughout the unit a balance between theory and practical application is maintained.

This unit studies and develops the econometric models and methods employed for the analysis of data arising in financial markets. It extends and complements the material covered in ECMT2130. The unit will cover econometric models that have proven useful for the analysis of both synchronous and non-synchronous financial time series data over the last two decades. Modern Statistical methodology will be introduced for the estimation of such models. The econometric models and associated methods of estimation will be applied to the analysis of a number of financial datasets. Students will be encouraged to undertake hands-on analysis using an appropriate computing package. Topics covered include: Discrete time financial time series models for asset returns; modelling and forecasting conditional volatility; Value at Risk and modern market risk measurement and management; modelling of high frequency and/or non-synchronous financial data and the econometrics of market microstructure issues. The focus of the unit will be in the econometric models and methods that have been developed recently in the area of financial econometrics and their application to modelling and forecasting market risk measures.

This unit studies macroeconomic theory and policy in a global trading world. The microfoundations of the various sectors are examined in the context of an open economy. The evolution of international money and capital markets is described, the operation of the foreign exchange market is examined, showing how its microstructure affects its macro performance. Theories and tests of the efficiency of international capital markets are surveyed, as well as core theories and tests of exchange rate and asset price determination. The unit develops the macroeconomic implications of monetary and fiscal policies for small and large open economies for different regimes.

This unit provides an overview of the main elements of monetary economics, with emphasis upon macroeconomic issues - analysis of economic processes in which money enters the picture in an essential manner. The content primarily concerns economic principles and theory, but there is also considerable focus on the Australian monetary system and monetary policy in particular. The particular topics covered include: functions of money; the concept of 'liquidity'; money demand; determinants of money supply changes; financial crises and the 'lender of last resort' function of central banking; the Reserve Bank of Australia and the Australian Prudential Regulation Authority; term and risk structures of interest rates; alternative theories of the level of the rate of interest; the monetary policy transmission mechanism; monetary policy instrument choice; central bank credibility; policy reaction functions; the global monetary system; and Reserve Bank market operations.

The unit of study provides theoretical and empirical training in analysing macroeconomic fluctuations and the interactions between the real economy and asset markets. The unit of study will introduce theoretical models of the business cycle to identify sources of economic fluctuations. It then provides a theoretical framework in which the asset market-the real economy can be analysed. In addition to theoretical analysis, the unit will develop empirical tools for analysing economic and financial indicators as well as evaluating the performance of theoretical models. The role of government policy will also be discussed by taking both Australian and global episodes.

Market outcomes can be undesirable when self-interested firms reduce welfare for consumers and society. This unit of study focuses on the regulation of firms in markets with imperfect competition. We analyse regulation of natural monopolies, focusing on the key issue of asymmetric information between the regulator and the monopolist. In this unit we also examine oligopoly markets in which firms can reduce welfare through collusion, price fixing and vertical restraints. Emphasising real-world examples, we examine competition policy and merger regulation.

This unit introduces students to international financial economics using a mixture of modern economic theory and empirical analysis. The inter-temporal model of the current account is examined to enable the analysis of the effects of economic policies on international trade and global financial markets. Theory and evidence for international asset positions will also be examined. Models of exchange rate and interest rate determination will be introduced and their empirical performance will be assessed. Topics covered will include sovereign debt, currency crises and the home bias portfolio puzzle.

The course will focus on how globalisation and financial innovation led to the 2008 financial crisis, and the monetary policy and regulatory responses to which this gave rise. It focuses on what lessons this presents for policy making and for investment decisions in the private sector. Issues examined include the robustness of financial systems in the West, China and elsewhere as new global issues arise such as stranded assets and global pandemics. Students will be provided with a toolkit of concepts to understand these issues including risk, derivatives, securitisation, and, regulatory and tax arbitrage.

This unit of study is concerned with the application of economic principles to problems in an interdisciplinary context. It builds on theoretical knowledge acquired in previous studies and introduces methods of applied economic analysis to real-world problems. Initially, a research problem will be presented by a guest lecturer. Supporting lectures will be delivered by the unit coordinator on the nature of research, appropriate theoretical concepts, quantitative methods and communication. Students will have an opportunity to define a research problem, conduct a literature review, analyse data, and present research results in an interdisciplinary context.

This interdisciplinary unit provides students with the opportunity to address complex problems identified by industry, community, and government organisations, and gain valuable experience in working across disciplinary boundaries. In collaboration with a major industry partner and an academic lead, students integrate their academic skills and knowledge by working in teams with students from a range of disciplinary backgrounds. This experience allows students to research, analyse and present solutions to a real¿world problem, and to build on their interpersonal and transferable skills by engaging with and learning from industry experts and presenting their ideas and solutions to the industry partner.