# UNIT OUTLINE

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any extra assistance will be provided by the teaching team in respect of work covered in the period prior to enrolment; and penalties will not be applied for late submission of any piece or pieces of assessment that were due during this period. When does the unit commence? Week 1, Semester 2, 2014 BEA342, Econometrics 4 Intended Learning Outcomes and Generic Graduate Attributes for BEA342 INTENDED LEARNING OUTCOMES In this unit you will learn to: In assessing this unit I will be looking at your ability to:
Learning Outcome 1 Collect data appropriate to answer a research question or test a theory or hypothesis. Transform it into an appropriate form for econometric analysis. Express relationships between variables in the form of a properly specified econometric model. Select, specify and use appropriate data and econometric models Learning Outcome 2 Understand the causes, consequences and remedies for violations of the Classical Linear Regression Model's assumptions Specify econometric models appropriate to answer a research question or test a theory or hypothesis. Justify the choice of variables and econometric model used to answer a research question or test a theory or hypothesis. Use econometric software to estimate econometric models using data. Understand the Classical Linear Regression Model, its assumptions and its limitations. ASSESSMENT METHODS GRADUATE ATTRIBUTE OUTCOMES Project Part A
The assessments and teaching activities in this unit have been designed to develop the following graduate attributes in students. Mid‐semester Test
Final Examination
KNOWLEDGE Project Part B
Advanced knowledge in analytical and quantitative methods and the ability to apply econometric techniques to analyse data within the diverse economic/finance issues of interest. Test for non‐spherical disturbances using econometric software; understand their effect on estimation and inference; and know how to use alternate estimators in their presence. Test for stationarily and cointegration using econometric software; understand their effect on estimation and inference; and know how to use alternate estimators in their presence. Test for specification errors, measurement errors, multicollinearity and endogeneity using econometric software; understand their effect on estimation and inference; and know how to use alternate estimators in their presence. Interpret the meaning of estimated econometric models and econometric tests. Make statistical inferences from econometric results.
Project Part AProject Part B
PROBLEM SOLVING Project Part C
Critically evaluate econometric models, results and inferences.
Mid‐semester Test
The ability to analyse economic/finance behaviour and solve a range of economic/finance problems. Formulate economic and financial policy from econometric results.
Final Examination
Learning Outcome 4 Use and interpret artificial variables: dummy variables, slope dummy variables, interaction variables. Project Part B
Use and interpret artificial variables and probability models Understand the advantages and disadvantages of the Linear Probability, Probit and Logit Models. Project Part C
Estimate the Logit and Probit models effectively and derive and interpret their results. Final Examination
Learning Outcome 3 Interpret and communicate econometric models and results Understand the range of multi‐choice models available and when each should be used. Mid‐semester Test
COMMUNICATION Final Examination
Written communication skills, including the ability to explain data, statistics, graphs and algebra, and the ability to communicate econometric models and results. The ability to think independently and logically and use economic/finance theory, econometric models and methods. SOCIAL PERSPECTIVE The ability to formulate economic and finance policy implications from the econometric results. BEA342, Econometrics 5 Learning Expectations and Teaching Strategies/Approach The University is committed to a high standard of professional conduct in all activities, and holds its commitment and responsibilities to its students as being of paramount importance. Likewise, it holds expectations about the responsibilities students have as they pursue their studies within the special environment the University offers. The University’s Code of Conduct for Teaching and Learning states: Students are expected to participate actively and positively in the teaching/learning environment. They must attend classes when and as required, strive to maintain steady progress within the subject or unit framework, comply with workload expectations, and submit required work on time. Work, Health and Safety (OH&S) The University is committed to providing a safe and secure teaching and learning environment. In addition to specific requirements of this unit you should refer to the University’s policy at: www.utas.edu.au/work‐health‐safety. Learning Resources Prescribed Text A prescribed text is a resource that you must have access to for the purposes of studying this unit. Wooldridge, J 2013, Introduction to econometrics (Europe edition), Cengage Learning EMEA, United Kingdom. The prescribed textbook is available from the Co‐op Bookshop on campus or www.coop‐
Students are expected to maintain the highest standards of conduct across all modes of communication, either with staff or with other students. Penalties may be imposed if the Unit Coordinator believes that, in any instance or mode of communication, your language or content is inappropriate or offensive. MyLO is a public forum. Due levels of respect, professionalism and high ethical standards are expected of students at all times. 2.
Submission of assessment tasks via MyLO presumes that students have read, understood and abide by the requirements relating to academic conduct, and in particular, those requirements relating to plagiarism. All work submitted electronically is presumed to be “signed‐off” by the student submitting as their own work. Any breach of this requirement will lead to student misconduct processes. 3.
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Family name; Preferred name; Student ID; Unit code (i.e. BEA342) Questions If your question is about an assessment task, please include the assessment task number or name. BEA342, Econometrics Assessment Assessment Schedule In order to pass this unit you must achieve an overall mark of at least 50% of the total available marks. Details of each assessment item are outlined below. Link to Learning Assessment Items Due Date Value/Weighting Outcomes Week 4 : Monday Project Part A: Abstract 4 August, 2pm 5% Learning Outcome 1 and Data Description Week 7 : Wednesday Learning Outcome 1 Mid‐semester Test 27 August, 3:00am‐
BEA342, Econometrics 16 Review of Assessment and Results Review of Internal Assessment It is expected that students will adhere to the following policy for a review of any piece of continuous/internal assessment. The term continuous/internal assessment includes any assessment task undertaken across the teaching phase of any unit (such as an assignment, a tutorial presentation, and online discussion, and the like), as well as any capstone assignment or take‐home exam. Within five (5) days of release of the assessment result a student may request a meeting with the assessor for the purpose of an informal review of the result (in accordance with Academic Assessment Rule No. 2 Clause 22 – www.utas.edu.au/university‐council/university‐
governance/rules). During the meeting, the student should be prepared to discuss specifically the marks for the section(s) of the marking criteria they are disputing and why they consider their mark(s) is/are incorrect. The assessor will provide a response to the request for review within five (5) days of the meeting. If the student is dissatisfied with the response they may request a formal review of assessment by the Head of School, with the request being lodged within five (5) days of the informal review being completed. A Review of Internal Assessment Form must be submitted with the formal review (http://www.studentcentre.utas.edu.au/examinations_and_results/forms_files/review_of_assessm
governance/rules). You will need to complete an Application for Review of Assessment Form, which can be accessed from www.studentcentre.utas.edu.au/examinations_and_results/forms_files/review_of_assessment.pdf. Note that if you have passed the unit you will be required to pay \$50 for this review. The TSBE reserves the right to refuse a student request to review final examination scripts should this process not be followed. BEA342, Econometrics 17 Further Support and Assistance If you are experiencing difficulties with your studies or assessment items, have personal or life‐
complaints. The University also has formal policies, and you can find out details about these policies from the following link – www.utas.edu.au/governance‐legal/student‐complaints/how‐to‐resolve‐a‐student‐
Chp 2
Chp 3‐4, Appd D, E Chp 8, 12
Chp 5, V: Chp 2.6, 4 Project Part A
Chp 15‐16
Chp 15‐16
Mid‐semester Break: Monday 1 – 5 September 8 September 2014 Binary Variables, Limited Dependent Chp 7, 17
Variable Models 15 September 2014 Binary Variables, Limited Dependent Chp 7, 17
Variable Models 22 September 2014 Simple Panel Data Methods
Chp 13
29 September 2014 Time Series: Dynamic Models, Chp 11, 18, V: Chp 8‐
Stationarity, Unit Root 9 6 October 2014 Time Series: Cointegration and Error Chp 18, V: Chp 8‐9 Correction Models 13 October 2014
Review of the course, Exam Info
Examination Period: 25 October to 11 November 2014 Due Dates Text Chapter/s Project Part B
Project Part C