Applied Econometric Modelling 1 (AGEC2105)

UNIT OF STUDY

Applied Econometric Modelling is designed to provide students with a sound understanding of the application of applied econometric methods to the agricultural and resource sectors. Topics covered will include: single and multiple regression, forecasting, dummy variables, violations of OLS assumptions, dynamics, binary choice models, and an introduction to cointegration. Emphasis will be placed on developing the ability to estimate and interpret economic relationships. The computing side of the unit involves the use of the statistical package EVIEWS. This unit of study is designed to develop student understanding and capability in applied regression analysis. It is a core unit for students in BAgrEc and BResEc, students and a non core unit for BScAgr students. Students will become familiar with exploring data sets and estimating, interpreting, and assessing regressions that represent economic relationships. At the end of this unit, students will be able to understand the major concepts and principles of applied regression analysis, estimate simple regressions in EVIEWS and interpret the output, and be able to read, understand, and possibly replicate recent literature in agricultural and resource economics journals that apply econometric methods. The students will gain research and computing skills.

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Further unit of study information

Classes

2x1-hr lectures/week, 1x1-hr tutorial/week commencing week 2

Assessment

1x1hr exam (25%), 1xassignment (15%) and 1x2hr exam (60%)

Textbooks

D.N. Gujarati & D.C. Porter, Basic Econometrics, 5th Ed. (McGraw-Hill Irwin), New York.

Faculty/department permission required?

No

Unit of study rules

Prerequisites and assumed knowledge

(ECMT1010 or MATH1905 or MATH1005 or MATH1015) and ECMT1020

Prohibitions

AGEC2005, ECMT2110

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