Empirical Financial Research

Course aim

To provide students with an introduction to the techniques used in the analysis of financial and business data and in finance research; the use of these empirical techniques; and experience in the application of these methods in basic empirical financial research

Course content

Introduction to the analysis of financial and business data: its importance and role. Methodological issues relevant to data analysis in finance and business: the link between theory and analysis. Transforming and presenting financial data: tables, charts, graphs, use of percentage changes, ratios, the construction and use of index numbers, and use of real versus nominal values in financial analysis. Summary measures for data: their construction, use and limitations. Writing in finance: descriptive and summary reports; empirical research reports. Introduction to linear regression: the bivariate model, its applications, and measures of fit; interpretation and applications of multiple regression in financial research and analysis; normal and t distributions in regression; and hypothesis testing. Introduction of specification problems: multicollinearity, autocorrelation and heteroscedasticity; Dummy variables and the use of lagged variables in regression; Long-run relationships in finance: the order of integration of a time series, co-integration and long-run relationships between time series, and testing for unit roots.

Textbook(s)

Nil

Prerequisite(s)

Common to all relevant programs
Subject Area & Catalogue Number	Course Name
ECON 2007	Forecasting and Business Analysis
BANK 2007	Business Finance
BANK 2006	International Currency and Banking Markets

Corequisite(s)

Nil

Teaching method

Component	Duration
INTERNAL, CITY WEST
Seminar	3 hours x 13 weeks
EXTERNAL, CITY WEST, DISTANCE EDUCATION
External	N/A x 13 weeks

Note: These components may or may not be scheduled in every study period. Please refer to the timetable for further details.

Assessment

Assignment, Examination, Group assignment

Fees

EFTSL*: 0.125
Commonwealth Supported program (Band 3)
To determine the fee for this course as part of a Commonwealth Supported program, go to:
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Fee-paying program for domestic and international students
International students and students undertaking this course as part of a postgraduate fee paying program must refer to the relevant program home page to determine the cost for undertaking this course.

Non-award enrolment
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* Equivalent Full Time Study Load. Please note: all EFTSL values are published and calculated at ten decimal places. Values are displayed to three decimal places for ease of interpretation.