Students
ECON2032 – Econometric Principles
2020 – Session 2, Special circumstance
Notice
As part of Phase 3 of our return to campus plan, most units will now run tutorials, seminars and other small group learning activities on campus for the second half-year, while keeping an online version available for those students unable to return or those who choose to continue their studies online.
To check the availability of face to face activities for your unit, please go to timetable viewer. To check detailed information on unit assessments visit your unit's iLearn space or consult your unit convenor.
General Information
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| Unit convenor and teaching staff |
Unit convenor and teaching staff
Daehoon Nahm
|
|---|---|
| Credit points |
Credit points
10
|
| Prerequisites |
Prerequisites
ECON241 or ECON2041 or STAT272 or STAT2372
|
| Corequisites |
Corequisites
|
| Co-badged status |
Co-badged status
|
| Unit description |
Unit description
This unit provides an introduction to modern econometric techniques. Its principal objectives are to extend knowledge beyond the classical regression model and to develop literacy in methods that are commonly used to analyse data in economics, finance and business. The topics covered may include: heteroscedasticity, stochastic regressors, limited dependent variables, time-series regression and panel data analysis. This unit will be of value to any students who are interested in how useful information may be inferred from economic data in a statistically valid way. |
Important Academic Dates
Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
Learning Outcomes
On successful completion of this unit, you will be able to:
- ULO1: Identify and describe econometric concepts and theories.
- ULO2: Estimate econometric models and test parametric hypotheses using techniques that are appropriate for the problem at hand.
- ULO3: Diagnose and resolve problems relating to the violation of standard assumptions in econometric models, and make conclusions and recommendations regarding your solutions.
- ULO4: Critique the appropriateness of alternative econometric techniques in practical applications to appropriate problems.
Assessment Tasks
| Name | Weighting | Hurdle | Due |
|---|---|---|---|
| Tutorial exercises (online) | 10% | No | Weeks 2-13 |
| Quiz | 15% | No | Tuesday, Week 8 |
| Assignment | 15% | No | Week 12 |
| Final Examination online | 60% | No | University Examination Period |
Tutorial exercises (online)
Assessment Type 1: Problem set
Indicative Time on Task 2: 12 hours
Due: Weeks 2-13
Weighting: 10%
Problem sets to be completed in online tutorials.
On successful completion you will be able to:
- Identify and describe econometric concepts and theories.
- Estimate econometric models and test parametric hypotheses using techniques that are appropriate for the problem at hand.
- Diagnose and resolve problems relating to the violation of standard assumptions in econometric models, and make conclusions and recommendations regarding your solutions.
- Critique the appropriateness of alternative econometric techniques in practical applications to appropriate problems.
Quiz
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 3 hours
Due: Tuesday, Week 8
Weighting: 15%
The quiz assesses the work covered in lectures up to the submission deadline, and consists of a set of questions to be answered on iLearn.
On successful completion you will be able to:
- Identify and describe econometric concepts and theories.
- Estimate econometric models and test parametric hypotheses using techniques that are appropriate for the problem at hand.
- Diagnose and resolve problems relating to the violation of standard assumptions in econometric models, and make conclusions and recommendations regarding your solutions.
- Critique the appropriateness of alternative econometric techniques in practical applications to appropriate problems.
Assignment
Assessment Type 1: Modelling task
Indicative Time on Task 2: 12 hours
Due: Week 12
Weighting: 15%
Students will be given an applied econometric problem to work on and will be required to submit a written report on their investigation of the problem. Students will also be required to submit relevant computer files.
On successful completion you will be able to:
- Identify and describe econometric concepts and theories.
- Estimate econometric models and test parametric hypotheses using techniques that are appropriate for the problem at hand.
- Diagnose and resolve problems relating to the violation of standard assumptions in econometric models, and make conclusions and recommendations regarding your solutions.
- Critique the appropriateness of alternative econometric techniques in practical applications to appropriate problems.
Final Examination online
Assessment Type 1: Examination
Indicative Time on Task 2: 50 hours
Due: University Examination Period
Weighting: 60%
A two hour open book examination, consisting of multipile choice, numerical, and short answer questions, will be held during the University Examination Period.
On successful completion you will be able to:
- Identify and describe econometric concepts and theories.
- Estimate econometric models and test parametric hypotheses using techniques that are appropriate for the problem at hand.
- Diagnose and resolve problems relating to the violation of standard assumptions in econometric models, and make conclusions and recommendations regarding your solutions.
- Critique the appropriateness of alternative econometric techniques in practical applications to appropriate problems.
1 If you need help with your assignment, please contact:
- the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
- the Writing Centre for academic skills support.
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Delivery and Resources
Classes
Lectures are delivered via recordings. Each week’s lecture will be recorded in two to three parts and will be made available on iLearn for study by the end of the preceding week. There is one 1 hour tutorial class per week in Weeks 2 to 13 that students have to attend. Students must enrol in a tutorial class that they are able to attend each week. Changes of tutorial class may only be effected using the online enrolment system and may only be made during the first two weeks of semester.
The timetable for classes can be found on the University website at: timetables.mq.edu.au
Required and Recommended Texts and/or Materials
Woodridge, Jeffrey M., Introductory Econometrics: A Modern Approach, 7th edition, or
Hill, R. Carter, William E. Griffiths, and Guay C. Lim, Principles of Econometrics, 5th edition
Material such as lecture slides, examples, etc will be made available on the unit web site as the unit progresses.
Technologies used and required
(1) Students will require a non-programmable calculator for tutorials, tests and the final examination.
Students will also require access to a computer, on which the following are installed or accessible.
(2) Gretl: It is free, open-source software. Visit the Gretl website: http://gretl.sourceforge.net/, and choose the operating system of your computer from the menu on the left-hand side. Download and install the program onto the computer. Download also the manual and all the data for practice.
(3) An internet browser, such as Firefox and Internet Explorer, to access iLearn.
(4) Adobe Acrobat Reader: to read course material downloaded from iLearn. This program can be downloaded from http://www.adobe.com/downloads/.
Learning and Teaching Activities
ECON232 is taught via lectures, set readings, and tutorial exercises. Students are expected to study lecture recordings and slides, read the texts, attend tutorial classes, submit tutorial exercises and assignments, and participate in class discussions. It is expected that students will spend an average of 10 hours per week working on this unit.
Unit Webpage
Useful information and some course material will be made available on the learning management system (iLearn): ilearn.mq.edu.au. Visit the homepage regularly for new information, course material and announcements.
Policies and Procedures
Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:
- Academic Appeals Policy
- Academic Integrity Policy
- Academic Progression Policy
- Assessment Policy
- Fitness to Practice Procedure
- Grade Appeal Policy
- Complaint Management Procedure for Students and Members of the Public
- Special Consideration Policy (Note: The Special Consideration Policy is effective from 4 December 2017 and replaces the Disruption to Studies Policy.)
Students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central).
Student Code of Conduct
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/study/getting-started/student-conduct
Results
Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au or if you are a Global MBA student contact globalmba.support@mq.edu.au
Student Support
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to help you improve your marks and take control of your study.
The Library provides online and face to face support to help you find and use relevant information resources.
Student Services and Support
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
Student Enquiries
For all student enquiries, visit Student Connect at ask.mq.edu.au
If you are a Global MBA student contact globalmba.support@mq.edu.au
IT Help
For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.