ETC5340 Principles of econometrics
Faculty of Business and Economics
ETC5340 Principles of econometrics is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2023 in Semester 2 at Clayton. It needs ETC3440, ETF2100, ETC2410, ETF5910 or ETW2510 and unlocks 4 units.
- Credit points
- 6
- Offered in 2023
- Semester 2
- Clayton
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2023 handbook entry. See the 2027 entry.
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Requisites
Before ETC5340
Prerequisites
Pass these before you enrol.
Prohibitions
You can't enrol if you have passed any of these.
After ETC5340
4 units list ETC5340 as a prerequisite or corequisite.
Equivalent units
The same content under another code. Only one of them counts.
Overview
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; 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.
Offerings in 2023
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester | Clayton | On campus |
Assessment
- Within semester assessment40%
- ExaminationThreshold hurdle60%
Learning outcomes
When you finish this unit, you should be able 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
- 4
develop the skills needed to demonstrate and explore theoretical sampling properties using computer simulation
- 5
critically analyse the application of principles underlying econometric analysis.
Workload and teaching
- Tutorials18 hours
- Workshops24 hours
- Teaching approachActive learning
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.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Learning resources
Technology resources
There may be an additional cost associated with purchasing a physical and/or virtual calculator. Specific details will be provided in the Learning Management System by commencement of Orientation week.
Contacts
- Chief Examiners
- Professor Gael Martin
Common questions
What are the prerequisites for ETC5340?
You need ETC3440, ETF2100, ETC2410, ETF5910 or ETW2510 before you enrol.
What can I take after ETC5340?
ETC5340 is a prerequisite or corequisite for 4 units, including ETC5410, ETC5420, ETC5440 and ETC5441.
When is ETC5340 offered?
In 2023, ETC5340 runs in Semester 2 at Clayton.
How much work is ETC5340?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ETC5340 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 1 other task.