EC5216 - Data Collection, Analysis and Interpretation in Economics

Credit points:	03
Year:	2013
Student Contribution Band:	Band 3
Administered by:	School of Business

This subject demonstrates how to use 'real' data in a variety of different econometric models to test economic theories and ideas. Its focus is on using techniques and understanding their limitations and their results (rather than on understanding econometric theory). Starting with the basic problem of determining how to turn an interesting question/issue into a testable hypothesis, it provides an overview of the types of data often used by economists and discusses techniques for collecting primary data where necessary. It introduces a range of different econometric models, identifying when such models are, or are not appropriate, and explains how to gauge the 'accuracy' of the models and to interpret outputs/results. The subject is tailored to students who (envision to) work at a position that requires advanced economics skills.

Learning Outcomes

• Understanding how to identify key variables for use in economic models and how to collect data for use as proxies in those models;
• Demonstrate a critical awareness of the way in which economic theories can be re-framed as testable scientific hypothesis;
• Demonstrate extensive familiarity with how to use a range of different econometric models to test economic theories;
• Demonstrate an advanced understanding of how to assess the appropriateness of different econometric models given the type of data available, and the economic theory being explored;
• Equip students with more advanced skills to interpret the output of econometric models.

Graduate Qualities

• The ability to generate, calculate, interpret and communicate numerical information in ways appropriate to a given discipline or discourse;
• The ability to select and use appropriate tools and technologies;
• The ability to appraise information critically;
• The ability to use independent judgment to synthesise information to make intellectual and/or creative advances;
• The ability to conceptualise problems;
• The ability to conceptualise and evaluate a range of potential solutions to relevant problems;
• The ability to identify and take serendipitous advantage of research opportunities.

Inadmissible Subject Combinations:

BX3122 BX3022

Availabilities
Townsville, Internal, Study Period 1
Census Date 28-Mar-2013
Coord/Lect:	Dr Rabiul Beg.
Contact hours:	26 hours lectures 12 hours tutorials 12 hours workshops/Seminars
Assessment:	end of semester exam (25%); quizzes or tests (25%); essays (50%).

Note: Minor variations might occur due to the continuous Subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.