units

ETC3400

Faculty of Business and Economics

18 September 2017 24 November 2024

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This unit entry is for students who completed this unit in 2016 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

Monash University

6 points, SCA Band 3, 0.125 EFTSL

Undergraduate - Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

Faculty

Business and Economics

Organisational Unit

Department of Econometrics and Business Statistics

Coordinator(s)

Professor Gael Martin

Offered

Clayton

  • Second semester 2016 (Day)

Synopsis

This unit provides a formal treatment of the core principles underlying econometric and statistical analysis, with particular focus given to likelihood-based inference. Topics covered include the likelihood principle and maximum likelihood estimation; minimum variance unbiased estimation; maximum likelihood asymptotic distribution theory; likelihood-based hypothesis testing; and quasi-maximum likelihood inference. The theoretical developments are supplemented by numerical results produced using computer simulation. Consideration is also given to the numerical optimisation techniques used to implement likelihood-based procedures in practice.

Outcomes

The learning goals associated with this unit are to:

  1. consolidate the core principles underlying econometric and statistical analysis
  2. understand and implement the technique of maximum likelihood estimation and develop an appreciation of the associated asymptotic distribution theory
  3. understand and implement likelihood-based hypothesis testing and quasi-maximum

likelihood inference

  1. develop the skills needed to demonstrate and explore theoretical sampling properties using computer simulation.

Assessment

Within semester assessment: 40%
Examination: 60%

Workload requirements

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. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

See also Unit timetable information

Chief examiner(s)

Professor Gael Martin

Prerequisites

Students must have passed ETC2410, ETC3440 or MTH2232 or must be enrolled in course 3822 or 4412 before undertaking this unit.

Prohibitions

ETC4340