WESTERN SYDNEY UNIVERSITY

ECON 3006: Economic and Financial Modelling

* Final Examination Guide and Notes 2024

- Part 01. Revision Notes

- Part 02. Sample Final Examination Paper

- Part 03. Suggested Solutions to Final Exam Paper

- Part 04. Final Examination - Hints and Tips

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Western Sydney University - ECON 3006: Economic & Financial Modelling

$35.00

ACADEMIC YEAR 2023 - 2024

University	Western Sydney University
Study Level	Undergraduate
Subject Code	ECON 3006
Subject Name	Economic and Financial Modelling
Notes Title	Final Examination Guide and Notes
Format	PDF
Page Length	76

* Achieve success in ECON 3006: Economic and Financial Modelling at Western Sydney University with the most comprehensive study guide available. This essential resource supports your learning and revision throughout the subject, offering detailed notes, exam-style questions, and expert advice on avoiding common pitfalls. Thoroughly updated, it covers all course topics and includes expertly written examples, practice questions, and sample exam papers with answer keys, ensuring you can confidently tackle any assessment and excel in your studies.

Economic and Financial Modelling examines regression analysis and its use in business especially in economics, finance and accounting. Topics will include the properties of estimators, hypothesis testing, specification error, multicollinearity, dummy variables, heteroskedasticity, serial correlation. It also introduces other modelling techniques in finance and economics. Empirical assignments undertaken by the student form an integral part of the unit. The emphasis is on learning by doing in small group workshops. To enroll in ECON 3006, you must have completed either MATH 1030 or ECON 1006 as a prerequisite.

✔ Subject Content

Econometrics and testing economic hypotheses. What should an econometrics report contain?
The probability foundations of econometrics
Point estimation in the classical linear econometric model; least squares and likelihood criteria
Hypothesis testing: the Wald, Lagrange multiplier and likelihood ratio tests
Model diagnostics; heteroskedasticity, autocorrelation, model specification testing
Generalised least squares, feasible generalised least squares including autocorrelated errors
Dealing with binary independent variables
Instrumental variable methods
Model discrimination testing; nested tests and testing linear restrictions; non-nested tests

SUBJECT CODE	SUBJECT NAME
ACCT 1005	Accounting in Context
ACCT 1010	Management Accounting Fundamentals
ACCT 2005	Techniques in Financial Accounting
ACCT 3003	Accounting Standards and Governance
BUSM 1027	Organisational Behaviour
ECON 1003	Financial Institutions and Markets
ECON 1006	Introduction to Economic Methods
ECON 1011	Principles of Economics
ECON 1013	The Australian Macroeconomy
ECON 1014	Consumers, Firms and Markets
ECON 2002	Corporate Financial Management
ECON 2007	Macroeconomic Theory
ECON 3001	Applied Econometrics
ECON 3003	Derivatives
ECON 3006	Economic and Financial Modelling
FINC 3008	Investment Management
FINC 3015	Security Analysis and Business Valuation
LAWS 1001	Enterprise Law
LAWS 3070	Taxation Law
MATH 1030	Statistics for Business
MKTG 1006	Marketing Principles

Western Sydney University - ECON 3006: Economic & Financial Modelling

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