ECON 2504 - Intermediate Econometrics II

North Terrace Campus - Semester 1 - 2019

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.

  • General Course Information
    Course Details
    Course Code ECON 2504
    Course Intermediate Econometrics II
    Coordinating Unit School of Economics
    Term Semester 1
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Up to 3 hours per week. Intensive (up to 6 hours per week) in Summer Semester.
    Available for Study Abroad and Exchange Y
    Prerequisites ECON 1008 or ECON 1011 or STATS 1000 or equivalent
    Assumed Knowledge Maths as taught in ECON 1005; and ECON 1000 and ECON 1004, or ECON 1012
    Restrictions Not suitable for BCompSc, BCompGraphics or BEng(Software Engineering) students
    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 Staff

    Course Coordinator: Dr Nadya Baryshnikova

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

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

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes

    On successful completion of this course, students will be able to:

    1. Conduct basic statistical and econometric analysis.
    2. Explain and interpret econometric results.
    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
    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
    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
  • Learning Resources
    Required Resources

    TEXT BOOK
    The required textbook is Principles of Econometrics, 5th Edition, Wiley by R. Carter Hill, William E. Griffiths 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 Activities
    Learning & Teaching Modes
    Classes will meet for 2 hours a week for the lecture and once for a 1-hour tutorial depending on the time slot students sign up for. Office hours with the lecturer and tutors 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 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. 

    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
    Tutorials 1,2


    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 and the tutors or post their questions on the discussion board. Questions over the telephone and email are strongly discouraged.
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    Assessment Task Due Date/ Week Weight Learning Outcomes
    Homework Assignments (in groups) See dates on MyUni 20% 1,2
    Midterm See dates on MyUni 25% 1,2
    Small Research Project See dates on MyUni 10% 1,2
    Final Exam Exam period 45% 1,2
    Total 100%
    For due dates, please see myUni.

    There are NO hurdle requirements for this course.
    Assessment Detail
    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 Exam - 25%:

    -There will be an inclass Midterm Exam of 50 minutes duration (including reading time) held 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 it or are unable to do it or get a mark of 0 on it, the weighting of the exam is added to the weighting of the final exam. No special consideration will be given to students who miss the exam for medical, compassionate or any other reason. You do not need to inform me about your reasons or your absense.
    -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.

    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.

    Redemption
    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.
    Submission
    Submission of the assignments is required as per instructions on the course web page.
    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
  • 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.

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