Courses & Units

Forecasting for Economic Decision-Making BEA342

Hobart

Introduction

BEA342 Econometrics provides the techniques required to quantify the magnitude, strength and form of relationships between variables, and the strategies that need to be employed to use these techniques effectively. More specifically, it examines the theory and use of the Classical Linear Regression Model (CLRM) and intermediate level econometric models, such as IV, Logit, Panel, ARIMA and Non-linear models.

The unit provides students with the econometric theories to be able to obtain answers from data using the latest econometrics software. The unit teaches econometric techniques to re-examine the CLRM learnt in BEA242 Introduction to Econometrics. The unit demonstrates how to test violations of its assumptions, their consequences and how to remedy them. It then provides students with the knowledge of how to use a range of econometric models for the analysis of cross-section and time-series data, and the ability to obtain answers to research policy questions in economics and finance. A working knowledge of the unit is essential for those students intending to work as professional economists, financial analysts and business analyst.

BEA342 is an advanced unit, and is both theoretical and applied in nature. Consequently, an empirical project where the student needs to demonstrate competence in carrying out a piece of applied econometric work will constitute 60% of the overall assessment of the unit.

Summary

Unit name Forecasting for Economic Decision-Making
Unit code BEA342
Credit points 12.5
Faculty/School College of Business & Economics
Tasmanian School of Business and Economics
Discipline Economics and Finance
Coordinator

Dr Paul Blacklow

Level Advanced
Available as student elective? Yes
Breadth Unit? No

Availability

Location Study period Attendance options Available to
Hobart Semester 2 On-Campus Off-Campus International International Domestic Domestic

Key

On-campus
Off-Campus
International students
Domestic students
Note

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Key Dates

Study Period Start date Census date WW date End date
Semester 2 12/7/2021 10/8/2021 30/8/2021 17/10/2021

* The Final WW Date is the final date from which you can withdraw from the unit without academic penalty, however you will still incur a financial liability (see withdrawal dates explained for more information).

About Census Dates

Learning Outcomes

LO1 1.0 Collect data appropriate to answer a research question or test a theory, relationship or hypothesis. Transform it into an appropriate form for econometric analysis.
 1.1 Select, specify and use appropriate data and linear econometric models.
 1.2 Specify econometric models appropriate to answer a research question or test a theory, relationship or hypothesis given the data available.
 1.3 Justify the choice of variables and econometric model used to answer a research question or test a theory, relationship or hypothesis
LO2 2.0 Identify and evaluate the causes, consequences and remedies for violations of advanced linear and nonlinear regression model assumptions
 2.1 Demonstrate an understanding remedies for violations of advanced linear and nonlinear regression models, their model assumptions and limitations.
2.2 Identify and evaluate the causes, consequences and remedies for violations of advanced linear and nonlinear regression model assumptions
LO33.0 Interpret and communicate advanced linear and nonlinear econometric models and results.
3.1 Interpret the meaning of estimated advanced linear and nonlinear econometric models and econometric tests.
3.2 Make statistical inferences from advanced linear and nonlinear econometric results.
3.3 Critically evaluate econometric models, results and inferences, informed by current economic literature.
3.4 Formulate economic and financial policy from econometric results.

Fees

Field of Education Commencing Student Contribution 1 Grandfathered Student Contribution 1 Approved Pathway Course Student Contribution 2 Domestic Full Fee
091903 $1,812.00 $1,419.00 not applicable $2,354.00

1 Please refer here more information on student contribution amounts.
2 Information on eligibility and Approved Pathway courses can be found here
If you have any questions in relation to the fees, please contact UConnect or more information is available on StudyAssist.

Please note: international students should refer to this page to get an indicative course cost.

Requisites

Prerequisites

BEA242

Teaching

Teaching Pattern

Please see the unit outline for details.

Assessment

Assignment Project Part A (20%), Assignment Project Part B (20%), Assignment Project Part C (20%), Final Exam (40%).

TimetableView the lecture timetable | View the full unit timetable

Textbooks

Required

Please see the unit outline for details.

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