This unit provides you with an understanding of techniques in modern econometrics widely used for answering empirical questions in business and economics. You will learn to apply these methods to real-world problems and data using appropriate statistical software. The topics covered include multiple regression analysis, instrumental variables estimation, modeling discrete dependent variables, analysis of data sets that have both a cross-section and a time-series dimension, and difference-in-differences method.
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
explain applied econometric concepts such as causal effects, endogeneity, selection bias, and simultaneity
understand the techniques in modern econometrics discussed in the unit including multiple regression analysis, instrumental variables estimation, modelling of discrete dependent variables, panel data analysis, and differences-in-differences method
use statistical software to manage data and conduct empirical analysis using the econometric techniques discussed
interpret empirical findings and discuss potential problems and limitations of empirical studies in business and economics.
