ECON 7051 - Intermediate Econometrics IID
North Terrace Campus - Semester 1 - 2020
General Course Information
Course Code ECON 7051 Course Intermediate Econometrics IID Coordinating Unit School of Economics Term Semester 1 Level Postgraduate Coursework Location/s North Terrace Campus Units 3 Contact Up to 3 hours per week Available for Study Abroad and Exchange Y Assumed Knowledge Introductory Statistics, Microeconomics and Macroeconomics Restrictions Available to MFin&BusEc, GCertAppEc, GDipAppEc, MAppEc & MHlthEco&Pol students only Course Description This course provides an introduction to the econometric techniques used to analyse data sets in economics, business and finance. It builds on basic statistics, inference and regression as covered in introductory statistics courses, but does not include time series econometrics. The focus is on understanding the methods involved, using statistical software to provide the results and then interpreting and commenting on these results. The course reviews basic statistics, regression and inference, and then introduces multiple regression analysis, which remains the most commonly used statistical technique in econometrics. The remainder of the course considers various practical aspects of linear regression models and may include dummy variables, different functional forms and the consequences of violation of the classical regression assumptions.
Course Coordinator: Dr Nadya BaryshnikovaSemester 1
Course Coordinator: Dr Nadya Baryshnikova
Office hours: TBA
Office location: Nexus 10, Level 4, Room 4.04
Telephone: 8313 4821
Course Coordinator: Dr Patricia Sourdin
Office hours: TBA
Office location: TBA
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning Outcomes
On successful completion of this course, students will be able to:
- Conduct basic statistical and econometric analysis.
- Explain and interpret econometric results.
- Formulate a research question and answer it using basic econometric analysis.
University Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Deep discipline knowledge
- informed and infused by cutting edge research, scaffolded throughout their program of studies
- acquired from personal interaction with research active educators, from year 1
- accredited or validated against national or international standards (for relevant programs)
1,2,3 Critical thinking and problem solving
- steeped in research methods and rigor
- based on empirical evidence and the scientific approach to knowledge development
- demonstrated through appropriate and relevant assessment
1,2,3 Career and leadership readiness
- technology savvy
- professional and, where relevant, fully accredited
- forward thinking and well informed
- tested and validated by work based experiences
The required textbook is Principles of Econometrics, 5th Edition, Wiley by R. Carter Hill, William E. Griffits and Guay C. Lim.
The recommended book to accompany the required text is Using Stata for Principles of Econometrics, 4th Edition, by Adkins and Hill.
Extensive use is made of MyUni; please check the announcements regularly. Lecture notes, practical questions, and past exam paper solutions will be made available on MyUni.
There is a discussion board on MyUni; this is the preferred way for students to ask questions because
this way all students have the same information and any of the staff can reply, allowing for quicker responses.
Learning & Teaching Activities
Learning & Teaching Modes
Classes will meet three times a week: 2 hours for lecture and once for a 1-hour tutorial. Office hours will be announced in due course. Please adhere strictly to the designated office hours.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
The standard undergraduate workload for a full-time student is 48 hours per week which equates to 12 hours per 3 unit course. This course has three hours of lectures and tutorials each week, which means that students should undertake nine hours of self-study each week of the teaching term.
Note that postgraduate students are expected to perform additional tasks (these may be computational in nature) during tutorial sessions.
Homework assignments are issued each week. Students are expected to work in groups on these assignments. All students may be asked to present their solutions during each tutorial session.
Learning Activities Summary
Teaching & Learning Activities Related Learning Outcomes Lectures 1,2,3
TENTATIVE LECTURE SCHEDULE (subject to change) :
Topics Title Chapters Topic 1 Introduction to Econometrics Chapter 1 (HGL) Topic 2 Introduction to Basic Statistics and Probability Probability Primer Topic 3 The Simple Linear Regression Model Chapter 2 Topic 4 Interval Estimation and Hypothesis Testing Chapter 3 Topic 5 Prediction, Goodness of Fit and Modeling Issues Chapter 4 Topic 6 The Multiple Linear Regression Model Chapter 5 Topic 7 Further Inference in the Multiple Regression Model Chapter 6 Topic 8 Using Indicator Variables Chapter 7 Topic 9 Heteoskedasticity Chapter 8
Specific Course Requirements
Homework completion may require access to STATA. If you do not have STATA at home, you may use the computer labs on campus. Please refer to http://www.adelaide.edu.au/its/student_support/labs/ for further details.
For course related questions, students are encouraged to utilise the designated office hours of the lecturer. Questions over the telephone are strongly discouraged.
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Task Task Type Due Weighting Learning Outcome Homework Assignments Group For dates, see myUni 20% 1,2 Midterm Individual For dates, see myUni 25% 1,2 Small Research Project Individual For dates, see myUni 10% 1,2,3 Final Exam Individual Exam Period 45% 1,2 Total 100%
Please see myUni for due dates.
Due to the current COVID-19 situation modified arrangements have been made to assessments to facilitate remote learning and teaching. Assessment details provided here reflect recent updates.
Group Homework (30%) component remains the same. The weighting of the Group Homework is changed to 30% . Please consider the use of Zoom or any other preferred software for your online meetings. If you choose to meet face to face, please observe social distancing.
Midterm (25%) will be replaced with 2 Individual Homework assignments (one closer to week 5 and another closer towards the end of the course). The best mark out of these two assignments will count towards the grade. If you do not submit an assignment for any reason, a mark of 0 will be given for that assignment. The weighting of the Individual Assignments component will be 25%. Due dates will be posted on myUni.
Small Research Project component is cancelled.
Final (45%) : details to be advised at a later date. (Note that this will not be an invigilated exam requiring personal attendance.)
1. Practice (not for grade): Homework will be posted each week. The students will be asked to form groups at the beginning of the course and do the exercises in these groups. Although homework is not marked, all students are expected to do this homework for practice!
2. Graded Homewok (in groups) - 20%
-There will be 3 group homeworks throughout the course . The homeworks that will be graded will be announced on the course page in advance and will have a clearly marked due date.
-No individual work will be accepted for this component. The group homework is submitted online.
-The tutor will mark only one question of his/her choice in each graded homework.
-Best 2 out of these 3 homeworks will be counted for assessment.
-Because not all of these marks count for assessment, no special consideration will be given to students who do not submit the homwork (or submit it late) for medical, compassionate or any other reason.
2. Midterm- 25%:
-There will be a 50 minutes (including reading time) Midterm in class in the middle of the course.
-The date will be announced on the course page.
-This exam is fully redeemable, in that if students choose not to do this exam or are unable to do the exam or get a mark of 0 on the exam, the weighting of the Midterm is added to the weighting of the final exam. No special consideration will be given to students who miss the Midterm for medical, compassionate or any other reason. You do not need to inform me about your reason or your absense.
3. Small Research Project -10%:
-This project will be started in tutorials and finished at home. There will be two Small Research Project sessions during tutorials (most likely in weeks 9 and 10). The dates will be announced on the course page closer to the time.
-Activity will be assessed at each session and after you submit the final project.
-Missed sessions will count as 0. If you cannot attend your tutorial session at that time, please come to any other tutorial during that week.
-If you are late by more than 10 minutes, you will be marked as absent (you may be able to make up that session by attending another session during that week, if it is still available).
-This project is fully redeemable, in that if students choose not to do this project or are unable to do the project or fail this project, the weighting of the project is added to the weighting of the Group Homework. No special consideration will be given to students who miss the project for medical, compassionate or any other reason.
4. Final exam (45%)
-This is of 3 hours duration, plus 10 minutes reading time.
-Statistical tables are provided.
-This exam covers the whole semester.
-Please note that, following University policy, dictionaries are not allowed in School of Economics exams.
-Graphics calculators or scientific calculators are allowed but are not required.
-Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process. If we can’t read what you have written, we can’t give marks for it. Students are advised to use a black pen in the exam; write clearly, BEGIN each question ON A NEW PAGE and do not use white out or pencil.
There is no extra work that can be done to redeem individual components of assessment during the semester, no matter the reason;
Assessment marks prior to the final exam may be displayed on the course website. Students are encouraged to check their marks and notify the course coordinator of any discrepancies.
SubmissionSubmission of the assignments is required as per instructions on MyUni.
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending
Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through Access Adelaide.
Submission of the assignments is required as per instructions on MyUni.
The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.
SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
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