units

ETX5934

Faculty of Business and Economics

18 September 2017 22 November 2024

print version

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

Postgraduate - 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 Brett Inder; Dr Kathryn Cornwell; Mr Jason Ng Wei Jian

Offered

Not offered in 2016

Synopsis

This unit introduces students to the empirical analysis of relationships between economic variables. The approach is based on linear regression theory, and emphasises 'hands on' data analysis. Topics studied will include properties of least squares estimators, hypothesis testing, the choice of appropriate functional form, the use of dummy variables, issues around modelling survey data and the problems of serial correlation, heteroscedasticity and multicollinearity. Students will learn how to critically analyse empirical economic studies.

Outcomes

The learning goals associated with this unit are to:

  1. understand and derive the properties of ordinary least squares in summation and matrix notation
  2. interpret, evaluate and apply inferential methods to multiple linear regression
  3. understand the use and implications of data scaling, functional form and dummy variables in regression modelling
  4. identify the presence of heteroscedasticity, adjust OLS standard errors and perform feasible GLS in regression models
  5. understand issues related to modelling with time-series data
  6. develop the skills of critical analysis of empirical economic work.

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)

Dr Kathryn Cornwell

Prerequisites

ETC1010, ETC2010 or ETC1031

Prohibitions

ETC2400, ETC2410, ETC3440, ETC4344 and ETX9344