The purpose of this unit is to provide an overview of the major types of macroeconometric models used in practice. At least two major Australian macroeconometric models are discussed in detail. Topics include: a taxonomy of macroeconometric models from Klein to Johansen; the solution of linear and nonlinear systems; multiplier analysis in linear and nonlinear systems; model simulation; policy analysis; the Orani model; the Murphy model; the Access Economics Model (AEM); the Treasury Macroeconomic Model of the Australian Economy (TRYM); and the Monash model. Familiarity with matrix algebra is desirable, but not essential. Model simulations are implemented using an econometric computer... -- Course Website
Instructor: Economics staff
Prerequisites: (ECON200 or ECON201 or ECON203 or ECON204) and (ECON241 or 3cp from STAT270-STAT272)
