ECON 7242 - Intermediate Applied Econometrics IID
North Terrace Campus - Semester 1 - 2022
General Course Information
Course Code ECON 7242 Course Intermediate Applied 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 Incompatible ECON 7051, ECON 2504, ECON 2515 Assumed Knowledge Introductory Statistics, Microeconomics and Macroeconomics 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 Baryshnikova
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:1. Have an in-depth knowledge of Economic data structure and use adequate visual tools to present data
2. Estimate simple and multiple linear regressions with quantitative data
3. Test and correcting for heteroscedasticity
4. Estimate linear regressions with qualitative data
5. Interprete and assessing outcomes of the regressions
6. Discuss methodology and results in a group
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.
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.
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.
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.
Required ResourcesThe required textbook for this course is Introductory Econometrics by Jeffrey M. Wooldridge, Mokhtarul Wadud, Jenny Lye, 2nd edition
Online LearningMyUni 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 Modes2 hours of weekly lectures and weekly one hour tutorial.
Students who are studying offshore are able to participate in all learning activities through online learning. Please consider using Zoom or any other preferred communication software for your group assignment meetings.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This translates to 12 hours per week for a semester course.
Learning Activities Summary
Tentative Schedule (subject to change): Week/s Modules 1-2 Module1- Nature of Econometrics and Economic Data
1.1- What is econometrics?
1.2- Steps in empirical economic analysis
1.3- The structure of economic data
1.4- Graphing data
1.5- Causality and the notion of Ceteris Paribus in econometric analysis
3-4 Module 2- The Simple Linear Regression Model
2.1- Definition of the simple linear regression model
2.2- Deriving the ordinary least square estimates
2.3- Examples of simple regression obtained using real data
2.4- Properties of OLS
2.5- Unit of measurement and functional form
2.6- Unbiasedness, consistency and vraiances of the OLS estimates
5-6 Module 3- Mulitple Linear Regression Model: Estimation
3.2- Mechanism and interpretation of ordinary least square equation (OLS)
3.3- Properties of OLS estimators
7 MidTerm Test 8-9 Module 4- Multiple Linear Regression Model: Inference
4.1- Sample distribution of the OLS estimators
4.2- Testing hypotheses about a single population parameter: The t-test
4.3- Confidence intervals
4.4- Testing hypotheses about a single linear combination of the parameter
4.5- Testing multiple linear restrictions: The F-test
4.6- Confidence intervals for predictions
4.7- Reporting regression results
10 Module 5- Heteroscedasticity and Autocorrelation
5.1- Definition of heteroscedasticity
5.2- Testing for heteroscedasticity
5.3- Correcting heteroscedasticity
11-12 Module 6- Heteroscedasticity and Autocorrelation
6.1- Describing qualitative information
6.2- A single dummy independent variable
6.3- Using dummy variables for multiple categories
6.4- Interactions involving dummy variables
6.5- A binary dependent variable: The linear probability model (LPM)
Specific Course RequirementsAssignment completion may require access to computer software 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. Questions over the telephone are strongly discouraged. Students may utilise the online forum of MyUni.
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 Weighting Learning Outcome Assignments Group 30% 1-6 Midterm Individual 20% 1-5 Final Individual 50% 1-5 Total 100%
Assessment Related RequirementsSome assignments require to use STATA which is installed in the computer labs or may be accessed via ADAPT on your personal devices. Please allow additional time for completing the assignments as the computer labs may not always be available.
Assessment DetailFurther details will be provided on myUni.
SubmissionSubmission of the assignments is required as per instructions on MyUni.
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 understood.
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.
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.The revisions to this course, based on student feedback, include a clearer structure of topics, clearer due dates, and making the midterm redeemable.
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