ECON 7051 - Intermediate Econometrics IID
North Terrace Campus - Semester 2 - 2020
General Course Information
Course Code ECON 7051 Course Intermediate Econometrics IID Coordinating Unit School of 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 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: Patricia SourdinSemester 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 ModesClasses 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.
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
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 RequirementsHomework 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 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 RequirementsThre are NO hurdle requirements for this course
Assessment Detail1. 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.
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.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.
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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