Basic tools and characteristics of Bayesian inference and the application of Bayesian inference to a number of econometric models are considered. The tools and characteristics will include joint, conditional and marginal probability distributions, prior, posterior and predictive distributions, Bayes theorem, representing uncertain information, and the estimation of moments and other integrals via Markov chain Monte Carlo techniques. The econometric models will include the traditional regression model, the seemingly unrelated regressions model, probit and tobit models and some time-series models. -- Course Website
Prerequisites: Admission into BH-COM or BH-ARTS (Economics) and Subject Study Period Commencement: Credit Points: ECOM40006 Econometric Techniques Semester 1 12.50
