Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Andrew Evans
Contact via andrew.evans@mq.edu.au
4ER Level 4 Rm452
TBA
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
Admission to MAppEcon or MCom or MAcc(Prof)MCom or MBkgFin or MBioTechMCom or MEc
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
This unit is designed to bring students with no econometrics background to an intermediate level in econometrics. Starting from first principles, the unit outlines standard econometric methods to the extent necessary for students to understand key concepts, apply basic methods, and interpret empirical research results in economics, finance and business. The unit material also includes elementary discussions of violations of the standard assumptions for a regression model, such as autocorrelation and heteroscedasticity.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
Name | Weighting | Hurdle | Due |
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Class Test 1 | 15% | No | Week 6 |
Class Test 2 | 20% | No | Week 10 |
Group Assignment | 30% | No | Week 13 |
Final Examination | 35% | No | University Examination Period |
Due: Week 6
Weighting: 15%
A 75 minute test consisting of multiple-choice questions will be held during the lecture in week 6. A calculator is needed for the test and attendance is compulsory. Calculators for the test must be non-programmable and must not have alphabetic storage capability.
Students must be available during the time of the lecture class to sit the class test. The only exception to this is when the student submits a valid application for Special Consideration which is approved by the University. In these circumstances the student may wish to consult the Special Consideration Policy which is available via the link in the Policies and Procedures section of this document.
Due: Week 10
Weighting: 20%
A 75 minute test consisting of multiple-choice and short-answer questions will be held during the lecture in week 10. A calculator is needed for the test and attendance is compulsory. Calculators for the test must be non-programmable and must not have alphabetic storage capability.
Students must be available during the time of the lecture class to sit the class test. The only exception to this is when the student submits a valid application for Special Consideration which is approved by the University. In these circumstances the student may wish to consult the Special Consideration Policy which is available via the link in the Policies and Procedures section of this document.
Due: Week 13
Weighting: 30%
The assignment will require students to analyse some sets of data (which will be provided) using the econometric software and regression models described in the course. Students will gain exposure to handling both time-series and cross-sectional data. Groups of up to four students will estimate a variety of different models, compare and contrast the outcomes, and assess the suitability of the models for the analysis.
The assignment must be submitted in week 13 (in hard copy as well as electronically).The assignment topic will be announced in class.
No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 20% penalty). This penalty does not apply for cases in which the student submits a valid application for Special Consideration which is approved by the University. In these circumstances the student may wish to consult the Special Consideration Policy which is available via the link in the Policies and Procedures section of this document.
Due: University Examination Period
Weighting: 35%
The final exam will consist of multiple-choice questions and short-answer questions. The exam will have a duration of 2 hours plus 10 minutes of reading time. Computer outputs and statistical tables are provided. One A4 page of notes may be taken into the examination room. Only non-programmable calculators without alphabetic storage capability are allowed into the examination room. The time and venue of the exam will be organised and announced in due time by the University.
You are expected to attend the final examination at the time and place designated in the University Examination Timetable. The timetable will be available in Draft form approximately eight weeks before the commencement of the examinations and in Final form approximately four weeks before the commencement of the examinations. http:// exams.mq.edu.au/.
Possible exceptions to sitting the examination at the designated time may arise if the student submits a valid application for Special Consideration which is approved by the University. In these circumstances the student may wish to consult the Special Consideration Policy which is available via the link in the Policies and Procedures section of this document.
If a Supplementary Examination is granted as a result of Special Consideration the examination will be scheduled after the conclusion of the official examination period.
The Macquarie university examination policy details the principles and conduct of examinations at the University. The policy is available at: http://www.mq.edu.au/policy/docs/examination/policy.htm
This unit is taught as a mix of tutorials and lectures. The lectures are designed to introduce the underlying knowledge in probability, statistics and econometrics, and to explain the methods which will be used to analyse and interpret data. Tutorials are based mainly on numerical problems which allow students to practice and understand the methods taught in the lectures. The tutorials include empirical applications which require the use of econometric software packages. Students will be taught how to use these packages in tutorials which are held in the computer labs.
Lectures – large group learning (2 hour each teaching week)
Lectures are intended to provide an overview of statistical and econometrics techniques that are critical to the core themes of the unit. Students are expected to read the relevant material before each lecture.
Tutorials – 1 hour per week
Tutorials will go through assigned problems which may be mathematical exercises, or which may require use of the econometric software available in the computer lab to estimate a model.
Self-study activities – learning by doing (about 6 hours each teaching week and 9 hours each week during the 2-week mid-semester recess)
ECON634 relies heavily on independent learning where students read the lecture notes, relevant chapters in the useful text books and prepare answers to the pre-set tutorial questions.
Useful but not required texts include:
Material such as lecture slides, examples, and tutorial questions will be available on the unit home page. The lecture notes, together with the lectures and additional references will provide students with a clear indication of the basic content of the unit.
It is recommended that students attend all lectures and tutorials for several reasons including:
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Week No. |
Lecture Topic |
Activities |
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1 |
Introduction & Descriptive Statistics for Data |
Lecture |
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2 |
Descriptive Statistics for Data (continued) |
Lecture & Tutorial |
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3 |
Probability and Random Variables |
Lecture & Tutorial |
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4 |
Probability Distributions |
Lecture & Tutorial |
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5 |
Sampling Distributions: Point Estimates and Confidence Intervals |
Lecture & Tutorial |
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6 |
Class Test in Lecture |
Tutorial & Class Test |
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7 |
Hypothesis Testing |
Lecture & Tutorial |
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MID-SEMESTER BREAK |
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8 |
Introduction to Regression Analysis |
Lecture & Tutorial |
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9 |
Multiple Linear Regression |
Lecture & Tutorial |
10 |
Class Test in Lecture |
Tutorial & Class Test |
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11 |
Multiple Linear Regression (continued) |
Lecture & Tutorial |
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12 |
Regression Model Diagnostics |
Lecture & Tutorial |
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13 |
Review Exam preparation |
Lecture & Tutorial Assignment Due |
Exam Period | Final Exam |
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