Students

ECON6034 – Econometrics and Business Statistics

2026 – Session 1, In person-scheduled-weekday, North Ryde

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff
Shuping Shi
shuping.shi@mq.edu.au
Tutor
Rerotlhe Brandon Basele
rerotlhebrandon.basele@mq.edu.au
Credit points Credit points
10
Prerequisites Prerequisites
Corequisites Corequisites
Co-badged status Co-badged status
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.

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: Apply basic statistical techniques to different economic and business problems.
  • ULO2: Evaluate and use appropriate econometric tools to model, estimate and forecast economic data.
  • ULO3: Apply research skills to select, compare and utilise econometric models.
  • ULO4: Utilise appropriate practices to work effectively in a group.

General Assessment Information

Late Submission Penalties

If you submit your assessment late, 5% of the total possible marks will be deducted for each day (including weekends), up to 7 days. Submissions more than 7 days late will receive a mark of 0.

Example 1 (out of 100):

If you score 85/100 but submit 20 hours late, you will lose 5 marks and receive 80/100.

Example 2 (out of 30):

If you score 27/30 but submit 20 hours late, you will lose 1.5 marks and receive 25.5/30.

Extensions

Automatic short extension: Some assessments are eligible for automatic short extension. You can only apply for an automatic short extension before the due date.

Special Consideration: If you need more time due to serious issues and for any assessments that are not eligible for Short Extension, you must apply for Special Consideration. Need help? Review the Special Consideration page for further details.

Assessment Tasks

Name Weighting Hurdle Due Groupwork/Individual Short Extension AI Approach
Skills development: Knowledge quiz 30% No Week 7 (during lecture time & in person) Individual No Observed
Skills development: Econometric analysis and modelling 30% No 13/05/2026 Individual Yes Open AI
Formal examination 40% No University Examination Period Individual No Observed

Skills development: Knowledge quiz

Assessment Type 1: Problem-based task
Indicative Time on Task 2: 15 hours
Due: Week 7 (during lecture time & in person)
Weighting: 30%
Groupwork/Individual: Individual
Short extension 3: No
AI Approach: Observed

The purpose of this quiz is to help students reinforce their understanding of key statistical concepts and skills. Students will be given an hour to complete a quiz.
 
Skills in focus: 
  • Critical thinking and problem solving
  • Discipline knowledge
  • Digital skills
Deliverable(s): Quiz
 
Individual assessment
On successful completion you will be able to:
  • Apply basic statistical techniques to different economic and business problems.
  • Evaluate and use appropriate econometric tools to model, estimate and forecast economic data.

Skills development: Econometric analysis and modelling

Assessment Type 1: Problem-based task
Indicative Time on Task 2: 15 hours
Due: 13/05/2026
Weighting: 30%
Groupwork/Individual: Individual
Short extension 3: Yes
AI Approach: Open AI

The purpose of this task is for students to develop skills in critically analysing data using econometric software and regression models.
 
Skills in focus: 
  • Critical thinking and problem solving
  • Applied skills
  • Discipline knowledge
  • Digital skills
Deliverable(s): Short-answer style written submission
 
Individual assessment
On successful completion you will be able to:
  • Apply basic statistical techniques to different economic and business problems.
  • Evaluate and use appropriate econometric tools to model, estimate and forecast economic data.
  • Apply research skills to select, compare and utilise econometric models.
  • Utilise appropriate practices to work effectively in a group.

Formal examination

Assessment Type 1: Examination
Indicative Time on Task 2: 20 hours
Due: University Examination Period
Weighting: 40%
Groupwork/Individual: Individual
Short extension 3: No
AI Approach: Observed

The purpose of this assessment is for you to demonstrate the expertise you have gained in this unit.

You will participate in a 2-hour, on-campus, closed-book exam held during the University Examination period.

Important information about the exam will be made available on the unit iLearn page. You should also review the MQ Exams website for general tips. 

Deliverable(s): Formal exam

Individual assessment
On successful completion you will be able to:
  • Apply basic statistical techniques to different economic and business problems.
  • Evaluate and use appropriate econometric tools to model, estimate and forecast economic data.
  • Apply research skills to select, compare and utilise econometric models.

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
  • Academic Success 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.

3 An automatic short extension is available for some assessments. Apply through the Service Connect Portal.

Delivery and Resources

DELIVERY FORMAT

This unit combines lectures and tutorials. Each week includes a two-hour face-to-face lecture. From Week 2 onward, students will also attend weekly one-hour tutorials focused on reviewing assigned problems.

Lectures introduce the fundamental concepts of probability, statistics, and econometrics, and explain the methods used to analyse and interpret data. Students are expected to read the relevant material prior to each lecture.

Tutorials focus primarily on numerical problem-solving, enabling students to practise and deepen their understanding of the methods covered in lectures. Tutorials also include empirical applications that require the use of Gretl and/or Microsoft Excel.

 

RECOMMENDED TEXTS

(Useful but not required)

  • Keller, G. (2014). Statistics for Management and Economics (10th ed.). Cengage Learning.
  • Hill, R. C., Griffiths, W. E., & Lim, G. C. (2011). Principles of Econometrics (4th ed.). Wiley. Available online through the Macquarie University Library: http://ebookcentral.proquest.com.simsrad.net.ocs.mq.edu.au/lib/MQU/detail.action?docID=4806586
  • Gujarati, D. N., & Porter, D. C. (2009). Essentials of Econometrics (4th ed.). McGraw-Hill.
  • Stock, J. H., & Watson, M. W. (2014). Introduction to Econometrics (3rd ed.). Pearson.
  • Wooldridge, J. M. (2020). Introductory Econometrics: A Modern Approach (7th ed.).

 

TECHNOLOGY REQUIREMENTS

  1. Gretl Gretl is free and can be downloaded from: http://gretl.sourceforge.net/
  2. Microsoft Excel Information on accessing Microsoft Excel off campus is available at: https://wiki.mq.edu.au/display/microsoftstu/

 

EMAIL USE

University policy requires that official University communication be conducted via your Macquarie University email account. Students must check this account regularly.

You should only contact Macquarie University staff (including tutors) using your official MQ student email account, as this is one method used to verify your identity.

Unit Schedule

The list below outlines the proposed study plan for the unit. This schedule may be adjusted during the semester to allow more or less time for particular topics, depending on progress and student needs.

  • Week 1: Introduction and Descriptive Statistics
  • Week 2: Descriptive Statistics
  • Week 3: Probability and Random Variables
  • Week 4: Probability Distributions
  • Week 5: Sampling Distributions
  • Week 6: Point Estimation and Interval Estimation

Mid-Session Break

  • Week 7: Class Test
  • Week 8: Hypothesis Testing
  • Week 9: Hypothesis Testing (Comparing Two Populations)
  • Week 10: Regression Analysis
  • Week 11: Multiple Linear Regression
  • Week 12: Regression Diagnostics
  • Week 13: Review

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central (https://policies.mq.edu.au). Students should be aware of the following policies in particular with regard to Learning and Teaching:

Students seeking more policy resources can visit Student Policies (https://students.mq.edu.au/support/study/policies). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.

To find other policies relating to Teaching and Learning, visit Policy Central (https://policies.mq.edu.au) and use the search tool.

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 connect.mq.edu.au or if you are a Global MBA student contact globalmba.support@mq.edu.au

Academic Integrity

At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

Academic Success

Academic Success provides resources to develop your English language proficiency, academic writing, and communication skills.

The Library provides online and face to face support to help you find and use relevant information resources. 

Student Services and Support

Macquarie University offers a range of Student Support Services including:

Student Enquiries

Got a question? Ask us via the Service Connect Portal, or contact Service Connect.

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.

Unit information based on version 2026.04 of the Handbook