Students

ECON2032 – Econometric Principles

2021 – Session 2, Special circumstances

Session 2 Learning and Teaching Update

The decision has been made to conduct study online for the remainder of Session 2 for all units WITHOUT mandatory on-campus learning activities. Exams for Session 2 will also be online where possible to do so.

This is due to the extension of the lockdown orders and to provide certainty around arrangements for the remainder of Session 2. We hope to return to campus beyond Session 2 as soon as it is safe and appropriate to do so.

Some classes/teaching activities cannot be moved online and must be taught on campus. You should already know if you are in one of these classes/teaching activities and your unit convenor will provide you with more information via iLearn. If you want to confirm, see the list of units with mandatory on-campus classes/teaching activities.

Visit the MQ COVID-19 information page for more detail.

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff
Andrew Evans
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://students.mq.edu.au/important-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
Final Examination online 50% No University Examination Period
Tutorial exercises (online) 15% No Weeks 3, 5, 7, 9 and 11
Assignment 20% No Week 12
Mid-session Test 15% No Week 8

Final Examination online

Assessment Type 1: Examination
Indicative Time on Task 2: 50 hours
Due: University Examination Period
Weighting: 50%

 

A two-hour open book examination, consisting of multiple 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.

Tutorial exercises (online)

Assessment Type 1: Problem set
Indicative Time on Task 2: 5 hours
Due: Weeks 3, 5, 7, 9 and 11
Weighting: 15%

 

Tutorial exercise quiz in W3 is weighted 5% and designed to ensure that you quickly review key concepts in maths and statistics taught in prerequisite units which will be necessary for you to progress through the new material in this unit; the remaining Tutorial exercise quizzes in W5, 7, 9, 11 are worth 2.5% each. Each quiz will be a problem set to be completed online at the end of the week in a designated time window. The tutorial classes will help you prepare for the quizzes.

 


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: 19 hours
Due: Week 12
Weighting: 20%

 

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 may 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.

Mid-session Test

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 3 hours
Due: Week 8
Weighting: 15%

 

The test assesses the work covered in lectures up to the submission deadline, and consists of a set of questions to be answered on iLearn. It may consist of true-false, multiple choice, numerical and simple answer questions.

 


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 Learning Skills Unit 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 Chrome, Firefox or 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

ECON2032 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:

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/admin/other-resources/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 Enquiry Service

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

Equity 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.

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.