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1272.0 - Australian Standard Classification of Education (ASCED), 2001  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 22/08/2001   
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ECONOMICS AND ECONOMETRICS is the study of the production, consumption and transfer of wealth, and developing and analysing models which describe this behaviour.

The main purpose of this narrow field of education is to develop an understanding of economic theory and its relationship to the production, distribution and consumption of wealth, macroeconomic and microeconomic theories, the structure of the local economy and its relationship to overseas economies, and the effects of economic decisions on individual, business and government behaviour.

Courses in Narrow Field 0917 Economics and Econometrics develop skills in:
. analysing economic policy to determine the effect on individuals, businesses and the economy as a whole
. developing models of economic behaviour using quantitative techniques
. researching and preparing reports and studies on economic conditions, activities and policy decisions

This narrow field comprises the following detailed fields:

091901  Economics
091903  Econometrics

091901 Economics

Economics is the study of the production, consumption and transfer of wealth.

Examples of subjects in this detailed field include:
. economic change and development
. macroeconomic theory
. microeconomic theory

091903 Econometrics

Econometrics is the study of analysing and describing economic data using mathematical and statistical methods.

Examples of subjects in this detailed field include:
. cross-sectional analysis
. economic models and forecasting
. financial econometrics

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