Cannot Build Project due to missing reference

Hi,

  I am a beginner to development in AX 7. So I apologize if this is something I should know. I wanted to create an entity to extract some data from AX 7. I created a solution and project and then added an entity using the Wizard. I wanted to start simple so I added the InvenTable and EcoResProduct. 

  When I build the project I get the following error:

Error A reference to 'Dynamics.AX.Ledger, Version=0.0.0.0, Culture=neutral, PublicKeyToken=null' is required to compile this module. 

Now I did some digging and see that I could import some of the references under C:\Program Files (x86)\Microsoft Visual Studio 14.0\Common7\IDE\Extensions. Most of the references referred to in the warnings are there, however the Dynamics.AX.Ledger, from the error, is not. 

Did i miss installing some library? 

Thanks in Advance