University of the South Pacific

Course Description

  • Course Name


  • Host University

    University of the South Pacific

  • Location

    Suva, Fiji

  • Area of Study


  • Language Level

    Taught In English

  • Prerequisites

    EC201: Intermediate Macroeconomics and EC203: Intermediate Microeconomics

  • Course Level Recommendations


    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credits

    3 - 4
  • Recommended U.S. Semester Credits
    3 - 4
  • Recommended U.S. Quarter Units
    4 - 6
  • Overview

    Economic theory tends to make qualitative statements about the relationship between economic variables. E.g. in microeconomics we learn that if the price of a good decreases, this should increase demand for that good, ceteris paribus. This theory does not provide a numerical measure of the relationship; it simply states that the relationship is negative. It is the econometrician?s job to provide the numerical or empirical content to the economic theory. Econometricians are therefore also involved with the empirical verification of economic theories. To do this they use mathematical equations to express economic theories and then use economic data to test these theories.
    The EC303 course has been designed to give students an understanding of the basic techniques of econometrics. Students should then develop an appreciation of its important role in economics. We will be using different econometric techniques. We will do this by relaxing the classical assumptions, introducing new estimation procedures and constructing complex econometric models. You should then be equipped with tools to enable you to carry out sophisticated applications to economics. We will cover subjects from a theoretical angle and consider relevant applications to economics along the way. To aid your understanding of the subject we will also use real economic data to do some econometric work with computer software.
    Learning Outcomes
    By the end of the course you should have the tools to analyze many kinds of economic model and to test economic theories. You should have an understanding of the theory behind the estimation methods used, be able to use computers to do econometric work, and be able to deal with a range of problematic issues that arise in the application of these methods to real economic data.
    Course Content
    - Simple Linear Regression Analysis
    - Multiple Linear Regression Analysis
    - Functional Forms of Regression Models and Interpretation of Coefficients
    - Dummy Variables
    - Heteroskedasticity
    - Autocorrelation
    - Parameter Stability
    - Time-series Econometrics: Dynamic Econometric Models
    - Correlation between Error and Regressors
    - Model Selection and Specification Errors
    - Time-series Econometrics: Unit Root and Cointegration
    Gujarati, D. and Porter, D.C. (2009), Basic Econometrics, 5th Edition, McGraw-Hill.
    Test 1: 5%
    Test 2: 10%
    Project Presentation: 10%
    Major Assignment: 10%
    Computer Exercise Performance: 5%
    Lectures and Tutorials Attendance: 10%
    Final Examination: 50%

Course Disclaimer

Courses and course hours of instruction are subject to change.

Eligibility for courses may be subject to a placement exam and/or pre-requisites.

Some courses may require additional fees.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.

Please reference fall and spring course lists as not all courses are taught during both semesters.

Availability of courses is based on enrollment numbers. All students should seek pre-approval for alternate courses in the event of last minute class cancellations

Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.