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Unit of study_

ECMT6002: Econometric Applications

This unit illustrates how econometric methods can be applied to economic data to solve problems that arise in economics and business. Econometric theory provides the techniques needed to quantify the strength and form of relationships between variables. Applied econometrics is concerned with the strategies that need to be employed to use these techniques effectively; to determine which model to specify and whether the data are appropriate. Guidelines for undertaking applied work are discussed. Case studies drawn from economics, marketing, finance, and accounting are also discussed. The unit includes a major econometric modelling project.

Code ECMT6002
Academic unit Economics
Credit points 6
Prerequisites:
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ECMT5001
Corequisites:
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None
Prohibitions:
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ECMT6702

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

  • LO1. list and explain the assumptions underlying the multiple regression model
  • LO2. understand major econometric methods, including least squares, instrumental variable, 2SLS, and maximum likelihood
  • LO3. interpret the estimates from the application of models to data
  • LO4. explain the advantages and disadvantages of various models and estimators
  • LO5. apply appropriate models and estimators to real data sets using specialized econometric software.