ECON 7051 - Intermediate Econometrics IID

North Terrace Campus - Semester 2 - 2020

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.

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Course Details

Course Code	ECON 7051
Course	Intermediate Econometrics IID
Coordinating Unit	Economics
Term	Semester 2
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
Assessment	Typically group and individual assignments, tests and final exam

Course Staff

Course Coordinator: Patricia Sourdin

Semester 1
Course Coordinator: Dr Nadya Baryshnikova
Email: nadya.baryshnikova@adelaide.edu.au
Office hours: TBA
Office location: Nexus 10, Level 4, Room 4.04
Telephone: 8313 4821

Semester 2
Course Coordinator: Dr Patricia Sourdin
Office hours: TBA
Office location: TBA
Telephone: TBA

Course Timetable

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	1,2,3

Learning Resources

Required Resources

TEXT BOOK(S)
The required textbook is Principles of Econometrics, 5th Edition, Wiley by R. Carter Hill, William E. Griffits and Guay C. Lim.

Recommended Resources

The recommended book to accompany the required text is Using Stata for Principles of Econometrics, 4th Edition, by Adkins and Hill.

Online Learning

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 Modes

Classes will meet three times a week: twice for a 1-hour lecture and once for a 1-hour tutorial depending on the time slot students sign up for. Office hours will be announced in due course. Please adhere strictly to the designated office hours.

Workload

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 four hours of lectures and tutorials each week, which means that students should undertake eight hours of self-study each week of the teaching term.
Note that postgraduate students are expected to perform additional tasks (may be computational in nature) during tutorial sessions.

Learning Activities Summary

Teaching & Learning Activities	Summary	Related Learning Outcomes
Lectures	Students will learn and discuss various econometric modelling techniques, how they are used, and in which situations they can be applied.	1,2
Tutorials	Students will perform computational exercises, learn how to organize and manage datasets using a statistical package, and how to implement a regression analysis.	1,2

Lecture Schedule

The tentative outline of the course (subject to change) is:

Introduction to Econometrics (HGL chapter 1)
Introduction to Basic Statistics and Probability (HGL Probability Primer)
The Simple Linear Regression Model (HGL Chapter 2)
Interval Estimation and Hypothesis Testing (HGL Chapter 3)
Prediction, Goodness of Fit and Modeling Issues (HGL Chapter 4)
The Multiple Linear Regression Model (Chapter 5)
Further Inference in the Multiple Regression Model (Chapter 6)
Using Indicator Variables (Chapter 7)
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 Summary

Assessment Task	Due Date/ Week	Weight	Length	Learning Outcomes
Individual assignments	See dates on MyUni	30%	TBA	1,2
Two online mid-semester tests	Week 8. See dates on MyUni	20%	TBA	1,2
Final Exam	Exam period	50%	TBA	1,2
Total		100%

Unless instructed otherwise, students are permitted to bring in an A4 size cheat sheet with both sides written for the final exam.

Assessment Related Requirements

Thre are NO hurdle requirements for this course

Assessment Detail

1. There will be 3 homework assignments to be submitted individually throughout the course. The dates and submission guidelines will be announced on MyUni. If you do not submit an assignment for any reason, a mark of 0 will be given for that assignment. The assignments are worth 30% of the final grade.

2. There will be two online mid-semester tests in week 8 worth 20% of the final grade (10% each). Further details will be announced on MyUni. The tests are redeemable if students choose not, or are unable, to do the tests. The weighting of the missed tests will be added to the weighting of the final exam. If students choose to sit the tests, they will no longer be redeemable and the test score will count towards final grade in the course.

Submission

Submission of the assignments is required as per instructions on MyUni.

Course Grading

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.

Additional Assessment
If a student receives 45-49 for their final mark for the course they will automatically be granted an additional assessment. This will most likely be in the form of a new exam (Additional Assessment) and will have the same weight as the original exam unless an alternative requirement (for example a hurdle requirement) is stated in this semester’s Course Outline. If, after replacing the original exam mark with the new exam mark, it is calculated that the student has passed the course, they will receive 50 Pass as their final result for the course (no higher) but if the calculation totals less than 50, their grade will be Fail and the higher of the original mark or the mark following the Additional Assessment will be recorded as the final result.

Student Feedback

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.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator