Econometrics And Business Statistics

ECON6034Econometrics and Business StatisticsSession 2, Special circumstance 2020Department of EconomicsContentsGeneral Information2Learning Outcomes2General Assessment Information3Assessment Tasks4Delivery and Resources6Unit Schedule8Policies and Procedures8DisclaimerMacquarie University has taken all reasonablemeasures to ensure the information in thispublication is accurate and up-to-date. However,the information may change or become out-datedas a result of change in University policies,procedures or rules. The University reserves theright to make changes to any information in thispublication without notice. Users of thispublication are advised to check the websiteversion of this publication [or the relevant facultyor department] before acting on any information inthis publication.NoticeAs part of Phase 3 of our return to campus plan,most units will now run tutorials, seminars and other small group learning activities on campus forthe second half-year, while keeping an online version available for those students unable to returnor those who choose to continue their studies online.To check the availability of face-to-face and online activities for your unit, please go to timetable viewer. To check detailed information on unit assessments visit your unit's iLearn space or consult your unit convenor.https://unitguides.mq.edu.au/unit offerings/128050/unit guide/print1

Unit guide ECON6034 Econometrics and Business StatisticsGeneral InformationUnit convenor and teaching staffUnit convenerFazeel Mohamed Jaleelfazeel.jaleel@mq.edu.au4EAR 452TBAAditya Srivastavaaditya.srivastava@mq.edu.auCredit points10PrerequisitesAdmission to GradCertFin or GradDipAppFin or MAppEcon or MAppFin or MAppFin(Adv) orMkgFin or MBusAnalyticsCorequisitesCo-badged statusUnit descriptionThis unit is designed to bring students with no econometrics background to an intermediatelevel in econometrics. Starting from first principles, the unit outlines standard econometricmethods to the extent necessary for students to understand key concepts, apply basicmethods, and interpret empirical research results in economics, finance and business. Theunit material also includes elementary discussions of violations of the standard assumptionsfor a regression model, such as autocorrelation and heteroscedasticity.Important Academic DatesInformation about important academic dates including deadlines for withdrawing from units areavailable at https://students.mq.edu.au/important-datesLearning OutcomesOn successful completion of this unit, you will be able to:ULO2: Evaluate and use appropriate econometric tools to model, estimate and forecasteconomic data.ULO1: Apply basic statistical techniques to different economic and business problems.https://unitguides.mq.edu.au/unit offerings/128050/unit guide/print2

Unit guide ECON6034 Econometrics and Business StatisticsULO3: Apply research skills to select, compare and utilise econometric models.ULO4: Utilise appropriate practices involved in today's working environment to workeffectively in a group.General Assessment InformationClass Test 1A 75 minute online test consisting of multiple-choice and short answer questions will be heldduring the lecture in week 6. The test will cover all contents from week 1 to week 5, inclusive. Acalculator is needed for the test and attendance is compulsory.Students must be available during the time of the lecture class to sit the class test. The onlyexception to this is when the student submits a valid application for Special Consideration whichis approved by the University. In these circumstances the student may wish to consult theSpecial Consideration Policy which is available via the link in the Policies and Proceduressection of this document.This Assessment Task relates to the following Learning Outcomes: Apply basic statistical techniques to problems in economics and business Apply research skills to select, compare and utilise econometric models.Class Test 2A 75 minute online test consisting of multiple-choice and short-answer questions will be heldduring the lecture time in week 10. The test will cover all contents from week 1 to week 9,inclusive. A calculator is needed for the test and attendance is compulsory.Students must be available during the time of the lecture class to sit the class test. The onlyexception to this is when the student submits a valid application for Special Consideration whichis approved by the University. In these circumstances the student may wish to consult theSpecial Consideration Policy which is available via the link in the Policies and Proceduressection of this document.This Assessment Task relates to the following Learning Outcomes: Apply basic statistical techniques to problems in economics and business Apply research skills to select, compare and utilise econometric models.AssignmentThe assignment will require students to analyse some sets of data using the econometricsoftware and econometric models described in the course. The assignment must be submittedelectronically in week 13. Further details including the assignment topic will be released iniLearn.No extensions will be granted. There will be a deduction of 10% of the total available markshttps://unitguides.mq.edu.au/unit offerings/128050/unit guide/print3

Unit guide ECON6034 Econometrics and Business Statisticsmade from the total awarded mark for each 24 hour period or part thereof that the submission islate (for example, 25 hours late in submission – 20% penalty). This penalty does not apply forcases in which the student submits a valid application for Special Consideration which isapproved by the University. In these circumstances the student may wish to consult the SpecialConsideration Policy which is available via the link in the Policies and Procedures section of thisdocument.This Assessment Task relates to the following Learning Outcomes: Apply basic statistical techniques to problems in economics and business Evaluate and use appropriate econometric tools to model, estimate and forecasteconomic data. Apply research skills to select, compare and utilise econometric models Utilise appropriate practices involved in today's working environment to work effectivelyin a group.Final ExaminationThe final exam will consist of multiple-choice questions and short-answer questions. The examwill have a duration of 1 hour and 40 minutes.This Assessment Task relates to the following Learning Outcomes: Apply basic statistical techniques to problems in economics and business Evaluate and use appropriate econometric tools to model, estimate and forecasteconomic data. Apply research skills to select, compare and utilise econometric modelsAssessment TasksNameWeightingHurdleDueClass Test15%NoWeek 6 (during the lecture time)Quiz20%NoWeek 10 (during the lecture time)Group assignment30%NoWeek 13 Monday 10amFinal examination35%NoUniversity Examination PeriodClass TestAssessment Type 1: Quiz/TestIndicative Time on Task 2: 7.5 hoursDue: Week 6 (during the lecture time)https://unitguides.mq.edu.au/unit offerings/128050/unit guide/print4

Unit guide ECON6034 Econometrics and Business StatisticsWeighting: 15%A 75 minute test consisting of multiple-choice questions will be held during the lecture in week 6.On successful completion you will be able to: Evaluate and use appropriate econometric tools to model, estimate and forecasteconomic data. Apply basic statistical techniques to different economic and business problems.QuizAssessment Type 1: Quiz/TestIndicative Time on Task 2: 10 hoursDue: Week 10 (during the lecture time)Weighting: 20%A 75 minute test consisting of multiple-choice and short-answer questions will be held during thelecture in week 10.On successful completion you will be able to: Evaluate and use appropriate econometric tools to model, estimate and forecasteconomic data. Apply basic statistical techniques to different economic and business problems.Group assignmentAssessment Type 1: Qualitative analysis taskIndicative Time on Task 2: 15 hoursDue: Week 13 Monday 10amWeighting: 30%The assignment will require students to critically analyse some sets of data using theeconometric software and regression models (including time-series and cross-sectional data).The group will estimate a variety of different models, compare and contrast the outcomes, andassess the suitability of the models for the analysis.https://unitguides.mq.edu.au/unit offerings/128050/unit guide/print5

Unit guide ECON6034 Econometrics and Business StatisticsOn successful completion you will be able to: Evaluate and use appropriate econometric tools to model, estimate and forecasteconomic data. Apply basic statistical techniques to different economic and business problems. Apply research skills to select, compare and utilise econometric models. Utilise appropriate practices involved in today's working environment to work effectivelyin a group.Final examinationAssessment Type 1: ExaminationIndicative Time on Task 2: 17.5 hoursDue: University Examination PeriodWeighting: 35%A two hour open book examination will be held during the University Examination Period, and willconsist of multiple-choice and short-answer questions.On successful completion you will be able to: Evaluate and use appropriate econometric tools to model, estimate and forecasteconomic data. Apply basic statistical techniques to different economic and business problems. Apply research skills to select, compare and utilise econometric models.1If you need help with your assignment, please contact: the academic teaching staff in your unit for guidance in understanding or completing thistype of assessment the Learning Skills Unit for academic skills support.2Indicative time-on-task is an estimate of the time required for completion of the assessmenttask and is subject to individual variationDelivery and ResourcesThis unit is taught as a mix of tutorials, lectures. The lectures are designed to introduce theunderlying knowledge in probability, statistics and econometrics, and to explain the methodswhich will be used to analyse and interpret data. Tutorials are based mainly on numericalproblems which allow students to practice and understand the methods taught in the lectures.The tutorials include empirical applications which require the use of econometric softwarehttps://unitguides.mq.edu.au/unit offerings/128050/unit guide/print6