Econometrics is a set of research tools employed across the economics and business disciplines. This unit covers the basic tools for estimation in the context of simple and multiple linear regression, the sampling properties of the least squares estimator, statistical inference and hypothesis testing. It also covers regression with dummy variables, model specification issues and estimation problems when least squares assumptions are violated.
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.
apply econometric tools to modelling, estimation, inference, and forecasting in the context of real world economic and business problems
apply the skills and knowledge from the unit to real situations in business and economics
formulate and test hypotheses about the relationships between variables
understand the nature and consequences of violation of the classical assumptions and know how to test for violations
demonstrate the ability to generate and analyse statistical output for business and economic applications using an appropriate statistical software.
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