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Unit of study_

ECMT1020: Introduction to Econometrics

This unit introduces econometrics: the application of economic theory and statistical methods to quantify economic phenomena and relationships using observational economic data. The unit starts with a review of probability and statistics, followed by an in-depth analysis of classical linear regression. Advanced topics including nonlinear models, dummy variables, model specification, heteroskedasticity, measurement errors, and time series are discussed in the second half of the unit. The aim is to develop a deep understanding of the statistical properties of modern econometrics techniques, and to provide the practical skills, such as using statistical software, to fit models to data.

Code ECMT1020
Academic unit Economics
Credit points 6
Prerequisites:
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ECMT1010 or ECOF1010 or BUSS1020 or MATH1905 or MATH1005 or MATH1015 or DATA1001 or DATA1901
Corequisites:
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None
Prohibitions:
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ECMT1001 or ECMT1002 or ECMT1003 or ECMT1021 or ECMT1022 or ECMT1023
Assumed knowledge:
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Students enrolled in this unit have an assumed knowledge equal to or exceeding 70 or higher in HSC Mathematics (or equivalent), or 35 or higher in HSC Mathematics Extension 1 (or equivalent), or 35 or higher in HSC Mathematics Extension 2 (or equivalent)

At the completion of this unit, you should be able to:

  • LO1. understand the process of econometric model building and testing
  • LO2. critically evaluate underlying theories, concepts, assumptions and arguments in econometrics and other related fields
  • LO3. develop coherent arguments when recommending solutions
  • LO4. manage, analyse, evaluate and use information efficiently and effectively
  • LO5. demonstrate an increased range of econometric techniques for use in applied work and be able to implement this knowledge for modelling data in different situations
  • LO6. demonstrate proficiency in carrying out applied work in econometrics and in the use of an econometric software package
  • LO7. confidently and coherently communicate, orally and in writing, to a professional standard

Unit outlines

Unit outlines will be available 1 week before the first day of teaching for the relevant session.