Forecasting for Economic Decision-Making

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Additional requirements

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BEA342 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 subject provides students with the econometric theories to be able to obtain answers from data using the latest econometrics software.

The subject teaches econometric techniques to re-examine the CLRM learnt in BEA242 Introduction to Econometrics. The subject 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 subject is essential for those students intending to work as professional economists, financial analysts and business analysts.

BEA342 is an advanced subject, 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 subject.

• Examination - Take Home (40%)
• Project Part C: Complete Project (30%)
• Project (10%)
• Project Part B: Model Selection and Testing (20%)

For textbook details check your university's handbook, website or learning management system (LMS).