Course

Microeconometric Modelling of Choice - ECON4205

Faculty: Australian School of Business

School: School of Economics

Course Outline: ECON4205 Course Outline

Campus: Kensington Campus

Career: Undergraduate

Units of Credit: 6

EFTSL: 0.12500 (more info)

Indicative Contact Hours per Week: 3

Enrolment Requirements:

Prerequisite: ECON2207 or ECON3291 or ECON4207 or approval of Head of School of Economics

Equivalent: ECON6205

CSS Contribution Charge: 3 (more info)

Tuition Fee: See Tuition Fee Schedule

Further Information: See Class Timetable

View course information for previous years.

Description

This course covers the specification, estimation and use of statistical models that are necessary to model discrete choices made by individuals, households, firms, etc. What influences an individual to work part-time rather than full-time, or to choose one brand of television amongst a range of alternatives? What drives the location choices of retail stores? Students will be introduced to situations where choice data come from stated as well as revealed preferences. Stated preference methods are especially common in marketing, health and environmental economics where revealed preference data are scarce because the product is new or there is no formal market. Special emphasis will be placed on illustrating the appropriate application of such data and associated models using case studies.
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