ECON 3502 - Econometrics III
North Terrace Campus - Semester 2 - 2024
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General Course Information
Course Details
Course Code ECON 3502 Course Econometrics III Coordinating Unit Economics Term Semester 2 Level Undergraduate Location/s North Terrace Campus Units 3 Contact Up to 4 hours per week Available for Study Abroad and Exchange Y Prerequisites ECON 2517 Restrictions Only available to B.Economics (Advanced) students Assessment Typically group and individual assignments and final exam Course Staff
Course Coordinator: Dr Emiliano A. Carlevaro
Course Timetable
The full timetable of all activities for this course can be accessed from Course Planner.
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Learning Outcomes
Course Learning Outcomes
On successful completion of this course, students will be able to:
1. demonstrate an in-depth knowledge of regression analysis
2. explain advanced econometric concepts including panel data methods, IV regressions, limited dependent variable models and advanced topics in times series
3. proficiently use statistical software (usually STATA, Matlab, or R) for econometric and statistical analysis
4. conduct independent data analysis and inquiry using advanced econometric methods
5. interpret results and shortcomings of the 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) Attribute 1: Deep discipline knowledge and intellectual breadth
Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.
1-5 Attribute 2: Creative and critical thinking, and problem solving
Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.
1,2,4,5 Attribute 3: Teamwork and communication skills
Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.
3,4,5 Attribute 4: Professionalism and leadership readiness
Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.
3,4,5 Attribute 8: Self-awareness and emotional intelligence
Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.
4,5 -
Learning Resources
Required Resources
The required textbook is:
J.M. Wooldridge, Introductory Econometrics, 7th Edition, South-Western 2019Online Learning
MyUni Course WebPage provides lecture notes, computer lecture notes, homework questions and solutions. Please check this page frequently for important announcements and corrections. -
Learning & Teaching Activities
Learning & Teaching Modes
2 hours of weekly lectures and 2 hours of weekly lab workshopsWorkload
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 two hours of lectures and two hours of workshops each week, which means that students should undertakeat least 8 hours of self-study each week of the teaching term.Learning Activities Summary
Tentative schedule (subject to change)
Week/s
Modules 1 Module 1 – Review of Multiple Linear Regression
1.1 Definition of the multiple linear regression model
1.2 Classical assumptions
1.3 Matrix notations and derivations of the ordinary least squares (OLS) estimates
1.4 Finite Samples Properties of OLS: Unbiasedness, Gauss-Markov Theorem (Section E.2, Wooldridge textbook)
1.5 Asymptotic Analysis: Consistency and Asymptotic Normality (Section E.4, Wooldridge textbook)2-3 Module 2 – Pooling Cross Sections across Time: Simple Panel Data Methods (Chapter 13, Wooldridge textbook)
2.1 Pooling independent cross sections across time
2.2 Policy analysis with pooled cross sections
2.3 Two-period panel data analysis
2.4 Policy analysis with two-period panel data
2.5 Differencing with more than two time periods4-5 Module 3 – Advanced Panel Data Methods (Chapter 14, Wooldridge textbook)
3.1 Fixed effects estimation
3.2 Random effects models
3.3 The correlated random effects approach6-8 Module 4 – Instrumental Variables Estimation and Two Stage Least Squares (Chapter 15, Wooldridge textbook)
4.1 Motivation: omitted variables in a simple regression model
4.2 IV estimation of multiple regression model
4.3 Two stage least squares
4.4 IV solutions to errors-in-variables problems
4.5 Testing for endogeneity and test overidentifying restrictions9-10 Module 5 – Limited Dependent Variable Models (Chapter 17, Wooldridge textbook)
5.1 Logit and Probit models for binary response
5.2 Tobit model for corner solution responses
5.3 Censored and truncated regression models
5.4 Sample selection corrections11-12 Module 6 – Advanced Time Series Topics (Chapter 18, Wooldridge textbook)
6.1 Infinite distributed lag models
6.2 Testing for unit roots
6.3 Spurious regression
6.4 ForecastingSpecific Course Requirements
Homework completion will require access to STATA. STATA may be accessed via IT software webpage or in the computer lab in Nexus 10. 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 discussion board or the designated office hours of the lecturer. -
Assessment
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 Task Type Weighting Word Count/ Time Due Learning Outcome Projects Group, Summative 30% Varying TBA 1-5 Weekly Activities* Individual, Summative 20% Varying Weekly 1-5 Final Exam Individual, Summative 50% 3 hours Exam Period 1-5
* Weekly Activities consist of quizzes and varying participation activities.
There are NO hurdle requirements.Assessment Related Requirements
Some assignments require STATA which is installed in the computer labs or may be installed on your personal device. Please allow additional time for completing the assignments as the computer labs may not be always available.
Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process, and may affect marks. Marks cannot be awarded for answers that cannot be read or understoodAssessment Detail
No information currently available.
Submission
No information currently available.
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.
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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.
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Student Support
- Academic Integrity for Students
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- YouX Student Care - Advocacy, confidential counselling, welfare support and advice
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Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
- Academic Credit Arrangements Policy
- Academic Integrity Policy
- Academic Progress by Coursework Students Policy
- Assessment for Coursework Programs Policy
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- Elder Conservatorium of Music Noise Management Plan
- Intellectual Property Policy
- IT Acceptable Use and Security Policy
- Modified Arrangements for Coursework Assessment Policy
- Reasonable Adjustments to Learning, Teaching & Assessment for Students with a Disability Policy
- Student Experience of Learning and Teaching Policy
- Student Grievance Resolution Process
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