Offered
Not offered in 2008
Synopsis
This unit covers specification, estimation and evaluation of a range of statistical models used to analyse (predominantly) micro data in economics, finance and marketing. These include models of discrete data on individual choice behaviour, censored and truncated data and panel data. A hands-on approach is taken, such that the models are illustrated with real-life applications.
Objectives
The learning goals associated with this unit are to:
- know in which situations the linear regression model is not an appropriate way to model the behaviour of interest
- apply a range of alternative models in situations when the linear regression model is not appropriate
- model data as recorded in either surveys or panels
- use appropriate models to predict the probability that an individual will choose a particular: labour market state; mode of transport; consumption level of alcohol; number of cigarettes to smoke per week; and so on.
Assessment
Within semester assessment: 40%
Examination (3 hours): 60%
Contact hours
Two 1.5-hour lectures per week.
Prerequisites
ETC3400 or ETC3410