微信客服：xiaoxionga100
微信客服：ITCS521
ECOM30001-ecom30001 计量经济学代写
时间：2023-03-09
ECOM30001 是一门深受国际学生欢迎的课程，它全面概述了电子商务及其对现代商业实践的影响。 该课程涵盖在线营销、数字分析、社交媒体策略和电子商务的最新趋势等主题。 通过学习本课程，学生可以更深入地了解企业如何使用数字技术来提高绩效，以及如何开展有效的在线营销活动来吸引客户和增加销售额。 随着电子商务的兴起和数字技术在商业中的重要性日益增加，在 ECOM30001 中学到的技能非常有价值，并且受到雇主的需求。
ECOM30001
Basic Econometrics
SUBJECT GUIDE
Semester 1, 2023
Prepared by
Dr. Andy J. Clarke
andrew.clarke@unimelb.edu.au
Department of Economics
Faculty of Business and Economics
1
Contents
1 Subject Outline 4
1.1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
1.2 Subject Aims . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
2 Learning Outcomes 4
2.1 Subject Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
2.2 Generic Skills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
3 Eligibility and Requirements 5
4 Academic Staff Contact Details 6
4.1 Subject Coordinator Contact Details . . . . . . . . . . . . . . . . . . . 6
4.2 Email Protocol . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
5 Lectures and Tutorials 7
5.1 Lecture Times . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
5.2 Recorded Lectures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
5.3 Lecture Slides . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
5.4 Required Reading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
5.5 Lecture Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
5.6 Tutorials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
5.7 Ed—Digital Learning Platform . . . . . . . . . . . . . . . . . . . . . . 10
5.8 Tutor Consultation Hours . . . . . . . . . . . . . . . . . . . . . . . . . 10
5.9 Private Tutoring Services . . . . . . . . . . . . . . . . . . . . . . . . . . 10
5.10 Tutorial Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
5.11 Accessing R . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
6 Assessment 14
6.1 Assessment Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
6.2 Assignments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
6.3 On-line Feedback Assessment Test . . . . . . . . . . . . . . . . . . . . . 16
6.4 End of Semester Exam . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
6.4.1 Information on Calculators in Examinations . . . . . . . . . . . 16
6.4.2 Exam Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
7 Academic Integrity 17
7.1 Academic Honesty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
7.2 Plagiarism and Collusion . . . . . . . . . . . . . . . . . . . . . . . . . . 17
8 University Services 18
8.1 Timetable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
8.2 Stop 1: Connecting Students and Services . . . . . . . . . . . . . . . . 18
8.3 Academic Skills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
2
8.4 Service Finder . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
8.5 Student Counselling . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
8.6 Student Equity and Disability Support . . . . . . . . . . . . . . . . . . 19
8.7 University of Melbourne Library Services . . . . . . . . . . . . . . . . . 19
9 Policy 19
9.1 Alternative Exam Arrangements (AEA) . . . . . . . . . . . . . . . . . 19
9.2 Assessment and Results Policy . . . . . . . . . . . . . . . . . . . . . . . 19
9.3 Special Consideration . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
3
1 Subject Outline
1.1 Introduction
Econometrics provides a bridge between economic theory and real-world data. It uses
theory from economics, finance, management, and marketing, tools from statistics,
and data to answer ‘how-much’ type questions. It is a set of techniques that allow
the measurement and analysis of economic phenomena and the prediction of future
trends.In this subject, emphasis is given to the intuitive understanding of these tech-
niques with practical application of these techniques using the popular econometric
software R and RStudio.
1.2 Subject Aims
The overall aim of this subject is to provide students with the skills to complete
quantitative analyses of data in the broad areas of Economics and Commerce. These
skills will be invaluable in many of the careers pursued by Economics and Commerce
graduates. Upon successful completion of this subject, students should be able to:
- identify, apply and implement the appropriate (Econometric) technique to anal-
yse different types of data
- interpret correctly the results from a well-specified econometric analysis and
- answer research questions by testing hypotheses about parameters of interest
2 Learning Outcomes
2.1 Subject Objectives
This subject examines multiple regression analysis and its use in economics, man-
agement, finance, accounting and marketing. Topics to be covered will include the
properties of estimators, hypothesis testing, specification error, multicollinearity, het-
eroskedasticity, endogeneity, discrete dependent and independent variables, and time
series analysis. Empirical assignments undertaken by the student form an integral
part of the subject.
On successful completion of this subject students should be able to:
• Apply the classical model of ordinary least squares to data sets drawn from
economics, finance, accounting and management using single and multiple re-
gression equations;
• Test hypotheses concerning the relationship between variables;
• Explain in detail the consequences of the violation of any one of the classical
assumptions;
4
• Test for violations of the classical assumptions;
• Estimate models in the presence of non-classical errors and stochastic explana-
tory variables;
• Diagnose model mis-specification using the most appropriate tests, and where
appropriate identify the appropriate remedial actions;
• Use computer software to perform simple data descriptions and to graph re-
lationships between variables, to estimate econometric models using OLS and
Instrumental Variables, and to estimate simple dynamic models;
• Apply econometric methods to real world data and perform diagnostic testing
to ensure the model is adequately specified.
2.2 Generic Skills
In this subject you will have the opportunity to develop important generic skills.
These skills are classified below according to their level of development:
High level of development: written communication; application of theory
to practice; interpretation and analysis; critical thinking; synthesis of data and
other information; evaluation of data and other information; use of computer
software.
Moderate level of development: problem solving; statistical reasoning; ac-
cessing data and other information from a range of sources.
Some level of development: oral communication; collaborative learning; re-
ceptiveness to alternative ideas.
3 Eligibility and Requirements
The primary prerequisites for this subject are:
1. Quantitative Methods 2 (ECON20003) or Statistics (MAST20005) and
2. One (1) of the following subjects: Intermediate Macroeconomics (ECON20001),
Intermediate Microeconomics (ECON20002), Business Finance (FNCE20001),
or Principles of Finance (FNCE10002).
Note: You are not allowed to take this subject if you have already completed or
currently completing Econometrics 1 (ECOM20001).
Note: Students who have achieved a grade of H2A or above in Quantitative Methods
2 (ECON20002) and plan to undertake an honours degree in Economics are strongly
advised to consider taking Econometrics 2 (ECOM30002) instead.
5
4 Academic Staff Contact Details
4.1 Subject Coordinator Contact Details
Your coordinator for Basic Econometrics (ECOM30001) is:
Name: Dr. Andrew (Andy) Clarke
Email: andrew.clarke@unimelb.edu.au
Room: 331, 3rd Floor, FBE Building, 111 Barry Street
Phone: 8344-5298
Consultation Hours: Wednesdays 1:00pm - 3:00pm
4.2 Email Protocol
While I will endeavour to address questions received via email, it will generally be
more appropriate to resolve substantive questions during lectures and tutorials and
during normal consultation hours. With this in mind, I encourage you to attend all
lectures and tutorials and to utilise the consultation hours offered by myself and tutors
in this subject.
Please note that I am only able to respond to student emails coming from a University
email address. Please do not use personal email addresses such as Gmail, Yahoo,
Hotmail or even business email addresses. Emails from non-University email addresses
may be filtered by the University’s spam filter, which means that I may not receive
your email. All correspondence relating to this subject will only be sent to your
University email address. Note that you must first activate your University email
address before you can send or receive emails at that address. You can activate your
email account at this link:
http://accounts.unimelb.edu.au
6
5 Lectures and Tutorials
5.1 Lecture Times
Day Time Location
Mondays 1:15pm-2:15pm Public Lecture Theatre [PLT], Old Arts
Lecture Recording
Wednesdays 3:15pm-4:15pm Public Lecture Theatre [PLT], Old Arts
Lecture Recording
5.2 Recorded Lectures
This subject will be provided as ‘dual delivery’ and will be taught in two modes:
1. Blended delivery (campus based) for students who can attend campus.
2. Entirely online delivery only for students who have been approved as ‘offshore
completers’ because this is their final semester of study.
Note: If you think you should be classified as an ‘offshore completer’, I recommend
that you contact STOP1 as soon as possible.
https://students.unimelb.edu.au/student-support/advice-and-help/stop-1
Lectures will be delivered both on-campus as well as being simultaneously provided
online as ‘screen-capture’ videos. These recordings will allow you to revise lectures at
any time during the semester, or to review them in preparation for the end of semester
exam.
In order to assist with your preparation for tutorials and assignments, additional
pre-recorded materials will be made available each week.
You will be able to access all recordings for this subject by clicking on the Lecture
Capture menu item on the Canvas page for this subject.
5.3 Lecture Slides
The lecture notes, and any additional background material, will be available for down-
loading prior to each lecture. The lecture slides and other subject material may be
accessed from the Basic Econometrics web pages on the University’s Canvas Learning
Management System:
https://canvas.lms.unimelb.edu.au/
7
5.4 Required Reading
No single textbook covers all the material in this course. The following textbook is the
closest to the subject material. Chapter references will be given during the lectures.
Hill, R. C., W. E. Griffiths, and G. C. Lim (2018). Principles of Econometrics,
5th ed.,New York: John Wiley & Sons. [UniM ECO 330.015195 HILL], ISBN:
978-1-118-45227-1 (Print) or 978-1-119-32094-4 (E-Book)
Previous editions of this textbook are a close substitute for the current edition.
A non-exhaustive list of other textbooks that serve equally well include:
Wooldridge, J. M., Wadud, M, and Lye, J. (2017). Introductory Econometrics,
Cengage Learning Australia [UniM ECO 330.015195 WOOL]
Stock, J. H., Watson M.W. (2011). Introduction to Econometrics, 3rd ed,
Boston, Addison-Wesley [UniM ECO 330.01595 STOC]
Wooldridge, J. M. (2013). Introductory Econometrics: A Modern Approach, 5th
ed.,Ohio, US: South Western. [UniM ECO 330.015195 WOOL]
8
5.5 Lecture Schedule
Lect. Day Date Topic Reading
No. 5th Ed.
1 Monday Feb-27 Introduction to Econometrics
2 Wednesday Mar-01 The Basic Linear Model I POE Ch. 5
3 Monday Mar-06 The Basic Linear Model: Statistical Properties POE Ch. 5
4 Wednesday Mar-08 The Basic Linear Model: Hypotheses Testing I POE Ch. 5
5 Monday Mar-13 The Basic Linear Model: Hypotheses Testing II POE Ch. 6
6 Wednesday Mar-15 The Basic Linear Model: Model Specification I POE Ch. 6
7 Monday Mar-20 The Basic Linear Model: Model Specification II POE Ch. 5
8 Wednesday Mar-22 Dummy Variables I POE Ch. 7
9 Monday Mar-27 Dummy Variables II POE Ch. 7
10 Wednesday Mar-29 Heteroskedasticity I POE Ch. 8
11 Monday Apr-3 Heteroskedasticity II POE Ch. 8
12 Wednesday Apr-5 Writing up research in Econometrics
Monday Apr-10 Mid-Semester Break
Wednesday Apr-12 Mid-Semester Break
13 Monday Apr-17 Binary Outcomes I POE Ch. 16
14 Wednesday Apr-19 Binary Outcomes II POE Ch. 16
15 Monday Apr-24 Binary Outcomes III POE Ch. 16
16 Wednesday Apr-26 Autocorrelation POE Ch. 9
17 Monday May-01 Non-Stationary Time Series POE Ch. 12
18 Wednesday May-03 Stochastic Regressors I POE Ch. 10
19 Monday May-08 Stochastic Regressors II POE Ch. 10
20 Wednesday May-10 Stochastic Regressors III POE Ch. 11
21 Monday May-15 Panel Data I POE Ch. 15
22 Wednesday May-17 Panel Data II POE Ch. 15
23 Monday May-22 Models for Count Data POE Ch. 16
24 Wednesday May-24 Revision
POE: Hill, R. C., W. E. Griffiths, and G. C. Lim (2018). Principles of Econometrics,
5th ed.,New York: John Wiley & Sons. [UniM ECO 330.015195 HILL]
9
5.6 Tutorials
Tutorials are a fundamental component of the subject and will give you the oppor-
tunity to review, practice, and apply the material covered in the lectures. These
tutorials will also assist in your preparation for completing the assignments in this
subject.
You should attempt the assigned tutorial questions prior to your tutorial each week.
Almost all of the tutorials will require you to complete practical computer-based
exercises using the R software.
Tutorial questions and any data required to complete the questions will be posted on
the Canvas subject page for this subject.
To assist with the RStudio preparatory work, computer code will be provided for,
and in advance of, each tutorial. This ensures that all students have access to the
computer code for use in class well beforehand. Prior to the start of each tutorial,
there will also be available an instructional video explaining, in detail, the specific R
code provided for each tutorial. Of course, you are very welcome come up with own
code based on the materials provided, which represents a good opportunity to learn
and practice.
Tutorials will commence in the first week of semester.
5.7 Ed—Digital Learning Platform
Ed Discussion is an online communication tool that can be used to facilitate syn-
chronous and asynchronous online discussions in a user-friendly interface, which can
be accessed directly from the Canvas page. You will be able to post questions about
the subject material, as well as view responses to questions posted by other students.
You will also have the option to post questions anonymously.
5.8 Tutor Consultation Hours
There are several different tutors in this subject. Outside your allocated tutorial time
you will have an opportunity to contact your tutor about the subject material.
5.9 Private Tutoring Services
The Faculty of Business & Economics (FBE) has become increasingly concerned about
the existence of a number of private tutoring services operating in Melbourne that
heavily target University of Melbourne students enrolled in FBE subjects.
Students are urged to show caution and exercise their judgement if they are consid-
ering using any of these services, and to please take note of the following:
- Any claim by any of these businesses that they have a ‘special’ or ‘collaborative’
10
or ‘partnership’ style relationship with the University or Faculty is false and
misleading.
- Any claim by a private tutoring service that they are in possession of, or can sup-
ply you with, forthcoming University exam or assignment questions or ‘insider’
or ‘exclusive’ information is also false and misleading.
- The University has no relationship whatsoever with any of these services and
takes these claims very seriously as they threaten to damage the University’s
reputation and undermine its independence.
- It is also not appropriate for students to provide course materials (including
University curricula, reading materials, exam and assignment questions and
answers) to operators of these businesses for the purposes of allowing them to
conduct commercial tutoring activities. Doing so may amount to misconduct
and will be taken seriously. Those materials contain intellectual property owned
or controlled by the University.
We encourage you to bring to the attention of Faculty staff any behaviour or activity
that is not aligned with University expectations or policy as outlined above.
5.10 Tutorial Schedule
Tutorial Week Lecture Topic
No. Beginning Material
1 Feb-27 Introduction to R
2 Mar-06 2 The Basic Linear Model in R
3 Mar-13 3, 4 Hypothesis Testing in R
4 Mar-20 5 More Hypothesis Testing in R
5 Mar-27 6, 7, 8 Model Specification, Dummy Variables
6 Apr-03 9, 10 Difference-in-Difference Models, Heteroskedasticity
Apr-17 Mid-Semester Break
7 Apr-10 11, 12 Feasible GLS in R, Graphs & Tables in R
8 Apr-24 13, 14 Binary Outcomes
9 May-01 15, 16 Binary Outcomes, Autocorrelation
10 May-08 17, 18 Non-Stationary Time Series, Stochastic Regressors
11 May-15 19, 20 Stochastic Regressors: 2SLS in R
12 May-22 21, 22 Panel Data Models in R
11
5.11 Accessing R
The software used in this subject is R. R is a free software environment for statistical
computing and graphics. It compiles and runs on a wide variety of UNIX platforms,
Windows and MacOS. In almost all surveys of professional data analysts, data scien-
tists, and statisticians, R is consistently ranked as extremely popular. Interestingly,
R has been an important toolkit that has been used by medical researchers during the
COVID19 pandemic. For this reason, programming skills in R represent an important
skill demanded by employers. Further information, including information about how
to download the free software can be found at:
https://www.r-project.org
RStudio is an integrated development environment (IDE) for R, providing a user-
friendly front end interface. It includes a console, syntax-highlighting editor that
supports direct code execution, as well as tools for plotting, history, debugging and
workspace management. It is strongly recommended that you use RStudio for all
work in tutorials and assignments. You will need to first install R before you
can install RStudio. Further information about RStudio, including information
about how to download the free software can be found at:
https://www.rstudio.com
12
The latest release of R is version R.4.2.2 (‘Innocent and Trusting’), released on Oc-
tober 31,2022. I recommend the following actions:
1. If you already have a version of R and RStudio installed on your computer
from a previous subject completed in 2021 or 2022, you do not need to update.
This version of R and RStudio will be suitable for all the analyses undertaken
in this subject.
2. If you do not have any version of R installed on your computer, then you should
download version R.4.2.2 (‘Innocent and Trusting’).
(a) [Windows] If you are intending to use R in a Windows 64-bit operating
environment, the executable file can be downloaded here:
https://cran.r-project.org/bin/windows
Note: You will require a 64-bit operating environment to run RStudio
(b) [Mac-OS] The instructions for setting up R in a Mac-OS environment are
somewhat more detailed. The precise instructions will depend on the exact
Mac-OS that you are using. Please read the following instructions first:
https://cran.r-project.org/bin/macosx
There are different executable files, depending on the version of Mac-OS
that you are using. You might find it easier to install and run the R if you
are using Mac-OS X release 10.13 (High Sierra) and above.
Note: You may require some additional files to get R working in the Mac-
OS environment. The actual files that you will require will depend upon
the actual Mac-OS environment that you are using. The additional file
XQuartz is available here:
https://cran.r-project.org/bin/macosx
(c) [Windows or Mac-OS] The latest version of RStudio is version 2022.12.0+353
and is available for download from:
https://posit.co/download/rstudio-desktop/
Please select the appropriate executable file for your operating system.
R and RStudio can also be accessed remotely (off campus) using the virtual lab.
You will need to download some software to access R and RStudio through the
VPN. For further information please see the website:
https://students.unimelb.edu.au/campus-life/campuses-and-facilities/
elearning-and-it/myuniapps
There is an extremely active (and passionate) online community devoted to R and its
applications. There are extensive online resources and help for almost any task that
you might want to achieve with R. All of the necessary commands and code necessary
to complete the tutorials will be provided in advance.
13
6 Assessment
6.1 Assessment Overview
Assessment Task Individual Week Due Date Weight
Group
Assignment I Group 4 Sunday March 26, 2023 10%
Online Mid-semester exam Individual 7 Tuesday April 18, 2023 10%
Assignment II Group 10 Sunday May 14, 2023 10%
End-of-semester exam Final Exam Period 70%
6.2 Assignments
There will be two (2) assignments each worth up to 10% of your final grade in this
subject due on Sunday March 26, 2023 and Sunday May 14, 2023 respectively. The
assignment are linked together and will involve completing an econometric analysis of
a topic, chosen by you, on one of the ‘real-world’ data-sets that will be provided to
you.
You will be provided with a full set of online lectures that will help you to complete
these assignments. These will cover:
- How to begin research in Econometrics
- Tips for writing a literature review
- Tips for working with data
- Producing high-quality graphs and tables in R
- Some practical advice
- Research ethics
- Drafting and writing up research in Econometrics
You will also be provided with a rubric for each assignment, as well as an example of
a completed assignment to provide you with further information about the task.
14
Assignment 1 (650 words) will not require you to provide estimation results. The
purpose of this assignment will be to provide some information on the feasibility of
your proposed project and will need to include the following:
- A description of your research question to be examined.
- Data: a description of the data used
- Model: a description of the model to be estimated
- Analysis: a description of the estimation methodology to be used.
At this stage, you will receive extensive feedback on your proposed project.
In Assignment II you will be asked to incorporate your feedback that you have received
from Assignment I, as well as providing:
- A description of your research question to be examined.
- Data: a description of the data used
- Model: a description of the model to be estimated
- Analysis: a description of the estimation methodology to be used.
- Data: a description and interpretation of the descriptive (summary) statistics
associated with your chosen data sample
- Results: a description and interpretation of your main results, which will need
to be presented in tables
- Conclusions: a discussion of your main conclusions, as well as a discussion of
the limitations of your project
You are encouraged to work in small groups to complete the assignments and to
submit the assignments as a group. All members of this group will be given the same
mark. No more than four (4) students may submit an assignment as a group. Of
course, you may choose not to work in a group and submit an assignment on your
own. Note that no two groups may hand in the same assignment. You may to use
a collaboration tool to create a shared workspace and communicate with members of
your group. There are many tools available, however the University currently provides
support for Microsoft Teams:
https://lms.unimelb.edu.au/learning-technologies/microsoft-teams
You will submit your completed assignments electronically using Canvas. When in-
cluding graphs or charts in assignments, patterns rather than colours should be used
to distinguish data series. This is because assignments might be printed by your tutor
who is marking your assignment.
15
Please note that you are required to keep a copy of your assignment after it has been
submitted as you must be able to produce a copy of your assignment at the request
of teaching staff at any time after the submission due date.
Due to the nature of the assignment(s), it will not be possible for you to submit the
assignment after the due date. If you have a genuine and acceptable reason for not
completing an assignment (or any other assessment task), such as illness, please apply
for special consideration.
6.3 On-line Feedback Assessment Test
An on-line mid-semester test worth 10% of your final grade for this subject will be
held on Tuesday April 18, 2023. It will cover the material covered in the lectures up
to Monday April 3, 2023, tutorials 1 through 6.
The primary objective of this on-line test is to provide feedback to you on your
understanding of the subject material and to help you identify any areas that require
further revision.
The test will contain twelve (12) multiple choice questions to be answered in forty (40)
minutes. You will be provided, with a set of practice questions and worked solutions
to assist with your preparation for the test. A copy of the formula sheet included on
the test will be provided in advance.
6.4 End of Semester Exam
The end of semester exam, worth 70% of the final grade for this subject, will cover
all the material covered during lectures and tutorials throughout the semester. This
exam will occur during the University’s normal end of semester assessment period,
with the time, date and location provided by the University’s administration later in
the semester. The exam will be 2 hours in duration. All critical value tables for each
distribution required to complete the exam will be provided to students in the exam
package, as will a formula sheet.
Please note that successful completion of this subject requires a passing grade in the
end-of-semester examination.
Students will be required to bring a non-programmable calculator to the end of
semester exam. The approved calculator for all subjects at the University of Mel-
bourne is the Casio FX82 (any suffix). No equivalent models of calculators will be
permitted.
6.4.1 Information on Calculators in Examinations
Effective from 1 January 2017, the approved calculator for all subjects is the Casio
FX82 (any suffix). No equivalent models of calculators will be permitted in exams.
16
You are required to purchase your own calculator and are responsible for ensuring
your calculator is in good working order with fresh batteries.
6.4.2 Exam Policy
The University requires that you are available for the entire examination period. Spe-
cial exams will not be routinely provided in cases of absence during the examination
period, unless the absence is due to serious illness or other special serious circum-
stances. Please see the Special Consideration web site for more information:
https://students.unimelb.edu.au/your-course/manage-your-course/
exams-assessments-and-results/special-consideration
The examination period for this semester is from Monday June 5 to Friday June 23,
2023.
7 Academic Integrity
7.1 Academic Honesty
The University maintains high academic standards in its courses and subjects and ex-
pects students to conduct themselves in a manner which is fair, honest and consistent
with the principles of academic integrity, particularly when undertaking assessment
and research. Please see:
http://academicintegrity.unimelb.edu.au
There is an online module on academic integrity on the Canvas page that I recommend
you complete at your convenience.
7.2 Plagiarism and Collusion
Presenting material from other sources without full acknowledgement (referred to as
plagiarism) is heavily penalised. Penalties for plagiarism can include a mark of zero
for the piece of assessment or a fail grade for the subject.
Plagiarism is the presentation by a student of an assignment identified as his or her
own work even though it has been copied in whole or in part from another student’s
work, or from any other source (e.g. published books, web-based materials or period-
icals), without due acknowledgement in the text.
Collusion is the presentation by a student of an assignment as his or her own work
when it is, in fact, the result (in whole or in part) of unauthorised collaboration
with another person or persons. Both the student presenting the assignment and the
student(s) willingly supplying unauthorised material are considered participants in
the act of academic misconduct.
17
There is an online module on how to avoid plagiarism on the Canvas page that I
recommend you complete at your convenience.
8 University Services
8.1 Timetable
MyTimetable is a class timetabling system that creates individual timetables for stu-
dents based on submitted class preferences, ensuring everyone has an equitable op-
portunity of getting their preferred class timetable. You will use this system to create
your class timetable prior to each study period.
By following a preference-based model, students who have other commitments,
such as employment or carer responsibilities, or who are returning or living overseas
during the timetabling period, are not disadvantaged by their limited availability.
When allocating class timetables, MyTimetable also takes into consideration factors
such as class size limits and potential clashes to ensure all students are equally ac-
commodated. Further information is available on the web at:
https://students.unimelb.edu.au/admin/class-timetable
8.2 Stop 1: Connecting Students and Services
Stop 1 is here to provide you with a range of support services throughout your uni-
versity degree, from help with enrolment, administration and wellbeing to advice on
building your skills and experiences.
https://students.unimelb.edu.au/stop1
8.3 Academic Skills
Academic Skills offers a range of workshops and resources to help you with study
skills including researching, writing and referencing, presentation skills and preparing
for exams. Visit their website via:
https://students.unimelb.edu.au/academic-skills
8.4 Service Finder
The University of Melbourne offers one of the most comprehensive student support
networks in Australia. Use this site to locate a wide range of services:
http://services.unimelb.edu.au/finder
18
8.5 Student Counselling
You may attend counselling to talk about personal, emotional, or mental health issues
which might be affecting their study and life. The University’s Counselling and Psy-
chological Services (CAPS) provides free, confidential, short-term professional coun-
selling to currently enrolled students and staff.
https://services.unimelb.edu.au/counsel
8.6 Student Equity and Disability Support
Student Equity and Disability Support provides services for students who need on-
going support with their studies. They understand that adjustments to learning and
assessment are sometimes required to allow all students to reach their full potential.
Learn more about the services provided, how to find support and how to register for
assistance:
http://services.unimelb.edu.au/student-equity
8.7 University of Melbourne Library Services
As well as holding an extensive collection of books, ebooks, digital media and period-
icals, library staff provide research guidance and support for students:
http://library.unimelb.edu.au
The following Business and Economics Library Guides have been designed specifically
for Faculty of Business and Economics staff and students:
http://unimelb.libguides.com/sb.php?subject_id=80310
9 Policy
9.1 Alternative Exam Arrangements (AEA)
The definition of and eligibility requirements for alternative exam arrangements (AEA)
can be found via:
http://students.unimelb.edu.au/admin/alternate
9.2 Assessment and Results Policy
The University’s assessment policy provides a framework for the design, delivery and
implementation of assessment of students in award and non-award courses and sub-
jects. Assessment is designed to contribute to high quality learning by students, and
to allow for quality assurance and the maintenance of high academic standards.
https://policy.unimelb.edu.au/MPF1326
19
9.3 Special Consideration
As a student, you may experience extraordinary or unusual circumstances, or ongoing
circumstances that adversely affect your academic performance. The University has
policies in place to support students who are experiencing academic disadvantage.
For more information, visit:
http://students.unimelb.edu.au/admin/special
20
Basic Econometrics
SUBJECT GUIDE
Semester 1, 2023
Prepared by
Dr. Andy J. Clarke
andrew.clarke@unimelb.edu.au
Department of Economics
Faculty of Business and Economics
1
Contents
1 Subject Outline 4
1.1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
1.2 Subject Aims . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
2 Learning Outcomes 4
2.1 Subject Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
2.2 Generic Skills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
3 Eligibility and Requirements 5
4 Academic Staff Contact Details 6
4.1 Subject Coordinator Contact Details . . . . . . . . . . . . . . . . . . . 6
4.2 Email Protocol . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
5 Lectures and Tutorials 7
5.1 Lecture Times . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
5.2 Recorded Lectures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
5.3 Lecture Slides . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
5.4 Required Reading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
5.5 Lecture Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
5.6 Tutorials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
5.7 Ed—Digital Learning Platform . . . . . . . . . . . . . . . . . . . . . . 10
5.8 Tutor Consultation Hours . . . . . . . . . . . . . . . . . . . . . . . . . 10
5.9 Private Tutoring Services . . . . . . . . . . . . . . . . . . . . . . . . . . 10
5.10 Tutorial Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
5.11 Accessing R . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
6 Assessment 14
6.1 Assessment Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
6.2 Assignments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
6.3 On-line Feedback Assessment Test . . . . . . . . . . . . . . . . . . . . . 16
6.4 End of Semester Exam . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
6.4.1 Information on Calculators in Examinations . . . . . . . . . . . 16
6.4.2 Exam Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
7 Academic Integrity 17
7.1 Academic Honesty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
7.2 Plagiarism and Collusion . . . . . . . . . . . . . . . . . . . . . . . . . . 17
8 University Services 18
8.1 Timetable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
8.2 Stop 1: Connecting Students and Services . . . . . . . . . . . . . . . . 18
8.3 Academic Skills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
2
8.4 Service Finder . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
8.5 Student Counselling . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
8.6 Student Equity and Disability Support . . . . . . . . . . . . . . . . . . 19
8.7 University of Melbourne Library Services . . . . . . . . . . . . . . . . . 19
9 Policy 19
9.1 Alternative Exam Arrangements (AEA) . . . . . . . . . . . . . . . . . 19
9.2 Assessment and Results Policy . . . . . . . . . . . . . . . . . . . . . . . 19
9.3 Special Consideration . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
3
1 Subject Outline
1.1 Introduction
Econometrics provides a bridge between economic theory and real-world data. It uses
theory from economics, finance, management, and marketing, tools from statistics,
and data to answer ‘how-much’ type questions. It is a set of techniques that allow
the measurement and analysis of economic phenomena and the prediction of future
trends.In this subject, emphasis is given to the intuitive understanding of these tech-
niques with practical application of these techniques using the popular econometric
software R and RStudio.
1.2 Subject Aims
The overall aim of this subject is to provide students with the skills to complete
quantitative analyses of data in the broad areas of Economics and Commerce. These
skills will be invaluable in many of the careers pursued by Economics and Commerce
graduates. Upon successful completion of this subject, students should be able to:
- identify, apply and implement the appropriate (Econometric) technique to anal-
yse different types of data
- interpret correctly the results from a well-specified econometric analysis and
- answer research questions by testing hypotheses about parameters of interest
2 Learning Outcomes
2.1 Subject Objectives
This subject examines multiple regression analysis and its use in economics, man-
agement, finance, accounting and marketing. Topics to be covered will include the
properties of estimators, hypothesis testing, specification error, multicollinearity, het-
eroskedasticity, endogeneity, discrete dependent and independent variables, and time
series analysis. Empirical assignments undertaken by the student form an integral
part of the subject.
On successful completion of this subject students should be able to:
• Apply the classical model of ordinary least squares to data sets drawn from
economics, finance, accounting and management using single and multiple re-
gression equations;
• Test hypotheses concerning the relationship between variables;
• Explain in detail the consequences of the violation of any one of the classical
assumptions;
4
• Test for violations of the classical assumptions;
• Estimate models in the presence of non-classical errors and stochastic explana-
tory variables;
• Diagnose model mis-specification using the most appropriate tests, and where
appropriate identify the appropriate remedial actions;
• Use computer software to perform simple data descriptions and to graph re-
lationships between variables, to estimate econometric models using OLS and
Instrumental Variables, and to estimate simple dynamic models;
• Apply econometric methods to real world data and perform diagnostic testing
to ensure the model is adequately specified.
2.2 Generic Skills
In this subject you will have the opportunity to develop important generic skills.
These skills are classified below according to their level of development:
High level of development: written communication; application of theory
to practice; interpretation and analysis; critical thinking; synthesis of data and
other information; evaluation of data and other information; use of computer
software.
Moderate level of development: problem solving; statistical reasoning; ac-
cessing data and other information from a range of sources.
Some level of development: oral communication; collaborative learning; re-
ceptiveness to alternative ideas.
3 Eligibility and Requirements
The primary prerequisites for this subject are:
1. Quantitative Methods 2 (ECON20003) or Statistics (MAST20005) and
2. One (1) of the following subjects: Intermediate Macroeconomics (ECON20001),
Intermediate Microeconomics (ECON20002), Business Finance (FNCE20001),
or Principles of Finance (FNCE10002).
Note: You are not allowed to take this subject if you have already completed or
currently completing Econometrics 1 (ECOM20001).
Note: Students who have achieved a grade of H2A or above in Quantitative Methods
2 (ECON20002) and plan to undertake an honours degree in Economics are strongly
advised to consider taking Econometrics 2 (ECOM30002) instead.
5
4 Academic Staff Contact Details
4.1 Subject Coordinator Contact Details
Your coordinator for Basic Econometrics (ECOM30001) is:
Name: Dr. Andrew (Andy) Clarke
Email: andrew.clarke@unimelb.edu.au
Room: 331, 3rd Floor, FBE Building, 111 Barry Street
Phone: 8344-5298
Consultation Hours: Wednesdays 1:00pm - 3:00pm
4.2 Email Protocol
While I will endeavour to address questions received via email, it will generally be
more appropriate to resolve substantive questions during lectures and tutorials and
during normal consultation hours. With this in mind, I encourage you to attend all
lectures and tutorials and to utilise the consultation hours offered by myself and tutors
in this subject.
Please note that I am only able to respond to student emails coming from a University
email address. Please do not use personal email addresses such as Gmail, Yahoo,
Hotmail or even business email addresses. Emails from non-University email addresses
may be filtered by the University’s spam filter, which means that I may not receive
your email. All correspondence relating to this subject will only be sent to your
University email address. Note that you must first activate your University email
address before you can send or receive emails at that address. You can activate your
email account at this link:
http://accounts.unimelb.edu.au
6
5 Lectures and Tutorials
5.1 Lecture Times
Day Time Location
Mondays 1:15pm-2:15pm Public Lecture Theatre [PLT], Old Arts
Lecture Recording
Wednesdays 3:15pm-4:15pm Public Lecture Theatre [PLT], Old Arts
Lecture Recording
5.2 Recorded Lectures
This subject will be provided as ‘dual delivery’ and will be taught in two modes:
1. Blended delivery (campus based) for students who can attend campus.
2. Entirely online delivery only for students who have been approved as ‘offshore
completers’ because this is their final semester of study.
Note: If you think you should be classified as an ‘offshore completer’, I recommend
that you contact STOP1 as soon as possible.
https://students.unimelb.edu.au/student-support/advice-and-help/stop-1
Lectures will be delivered both on-campus as well as being simultaneously provided
online as ‘screen-capture’ videos. These recordings will allow you to revise lectures at
any time during the semester, or to review them in preparation for the end of semester
exam.
In order to assist with your preparation for tutorials and assignments, additional
pre-recorded materials will be made available each week.
You will be able to access all recordings for this subject by clicking on the Lecture
Capture menu item on the Canvas page for this subject.
5.3 Lecture Slides
The lecture notes, and any additional background material, will be available for down-
loading prior to each lecture. The lecture slides and other subject material may be
accessed from the Basic Econometrics web pages on the University’s Canvas Learning
Management System:
https://canvas.lms.unimelb.edu.au/
7
5.4 Required Reading
No single textbook covers all the material in this course. The following textbook is the
closest to the subject material. Chapter references will be given during the lectures.
Hill, R. C., W. E. Griffiths, and G. C. Lim (2018). Principles of Econometrics,
5th ed.,New York: John Wiley & Sons. [UniM ECO 330.015195 HILL], ISBN:
978-1-118-45227-1 (Print) or 978-1-119-32094-4 (E-Book)
Previous editions of this textbook are a close substitute for the current edition.
A non-exhaustive list of other textbooks that serve equally well include:
Wooldridge, J. M., Wadud, M, and Lye, J. (2017). Introductory Econometrics,
Cengage Learning Australia [UniM ECO 330.015195 WOOL]
Stock, J. H., Watson M.W. (2011). Introduction to Econometrics, 3rd ed,
Boston, Addison-Wesley [UniM ECO 330.01595 STOC]
Wooldridge, J. M. (2013). Introductory Econometrics: A Modern Approach, 5th
ed.,Ohio, US: South Western. [UniM ECO 330.015195 WOOL]
8
5.5 Lecture Schedule
Lect. Day Date Topic Reading
No. 5th Ed.
1 Monday Feb-27 Introduction to Econometrics
2 Wednesday Mar-01 The Basic Linear Model I POE Ch. 5
3 Monday Mar-06 The Basic Linear Model: Statistical Properties POE Ch. 5
4 Wednesday Mar-08 The Basic Linear Model: Hypotheses Testing I POE Ch. 5
5 Monday Mar-13 The Basic Linear Model: Hypotheses Testing II POE Ch. 6
6 Wednesday Mar-15 The Basic Linear Model: Model Specification I POE Ch. 6
7 Monday Mar-20 The Basic Linear Model: Model Specification II POE Ch. 5
8 Wednesday Mar-22 Dummy Variables I POE Ch. 7
9 Monday Mar-27 Dummy Variables II POE Ch. 7
10 Wednesday Mar-29 Heteroskedasticity I POE Ch. 8
11 Monday Apr-3 Heteroskedasticity II POE Ch. 8
12 Wednesday Apr-5 Writing up research in Econometrics
Monday Apr-10 Mid-Semester Break
Wednesday Apr-12 Mid-Semester Break
13 Monday Apr-17 Binary Outcomes I POE Ch. 16
14 Wednesday Apr-19 Binary Outcomes II POE Ch. 16
15 Monday Apr-24 Binary Outcomes III POE Ch. 16
16 Wednesday Apr-26 Autocorrelation POE Ch. 9
17 Monday May-01 Non-Stationary Time Series POE Ch. 12
18 Wednesday May-03 Stochastic Regressors I POE Ch. 10
19 Monday May-08 Stochastic Regressors II POE Ch. 10
20 Wednesday May-10 Stochastic Regressors III POE Ch. 11
21 Monday May-15 Panel Data I POE Ch. 15
22 Wednesday May-17 Panel Data II POE Ch. 15
23 Monday May-22 Models for Count Data POE Ch. 16
24 Wednesday May-24 Revision
POE: Hill, R. C., W. E. Griffiths, and G. C. Lim (2018). Principles of Econometrics,
5th ed.,New York: John Wiley & Sons. [UniM ECO 330.015195 HILL]
9
5.6 Tutorials
Tutorials are a fundamental component of the subject and will give you the oppor-
tunity to review, practice, and apply the material covered in the lectures. These
tutorials will also assist in your preparation for completing the assignments in this
subject.
You should attempt the assigned tutorial questions prior to your tutorial each week.
Almost all of the tutorials will require you to complete practical computer-based
exercises using the R software.
Tutorial questions and any data required to complete the questions will be posted on
the Canvas subject page for this subject.
To assist with the RStudio preparatory work, computer code will be provided for,
and in advance of, each tutorial. This ensures that all students have access to the
computer code for use in class well beforehand. Prior to the start of each tutorial,
there will also be available an instructional video explaining, in detail, the specific R
code provided for each tutorial. Of course, you are very welcome come up with own
code based on the materials provided, which represents a good opportunity to learn
and practice.
Tutorials will commence in the first week of semester.
5.7 Ed—Digital Learning Platform
Ed Discussion is an online communication tool that can be used to facilitate syn-
chronous and asynchronous online discussions in a user-friendly interface, which can
be accessed directly from the Canvas page. You will be able to post questions about
the subject material, as well as view responses to questions posted by other students.
You will also have the option to post questions anonymously.
5.8 Tutor Consultation Hours
There are several different tutors in this subject. Outside your allocated tutorial time
you will have an opportunity to contact your tutor about the subject material.
5.9 Private Tutoring Services
The Faculty of Business & Economics (FBE) has become increasingly concerned about
the existence of a number of private tutoring services operating in Melbourne that
heavily target University of Melbourne students enrolled in FBE subjects.
Students are urged to show caution and exercise their judgement if they are consid-
ering using any of these services, and to please take note of the following:
- Any claim by any of these businesses that they have a ‘special’ or ‘collaborative’
10
or ‘partnership’ style relationship with the University or Faculty is false and
misleading.
- Any claim by a private tutoring service that they are in possession of, or can sup-
ply you with, forthcoming University exam or assignment questions or ‘insider’
or ‘exclusive’ information is also false and misleading.
- The University has no relationship whatsoever with any of these services and
takes these claims very seriously as they threaten to damage the University’s
reputation and undermine its independence.
- It is also not appropriate for students to provide course materials (including
University curricula, reading materials, exam and assignment questions and
answers) to operators of these businesses for the purposes of allowing them to
conduct commercial tutoring activities. Doing so may amount to misconduct
and will be taken seriously. Those materials contain intellectual property owned
or controlled by the University.
We encourage you to bring to the attention of Faculty staff any behaviour or activity
that is not aligned with University expectations or policy as outlined above.
5.10 Tutorial Schedule
Tutorial Week Lecture Topic
No. Beginning Material
1 Feb-27 Introduction to R
2 Mar-06 2 The Basic Linear Model in R
3 Mar-13 3, 4 Hypothesis Testing in R
4 Mar-20 5 More Hypothesis Testing in R
5 Mar-27 6, 7, 8 Model Specification, Dummy Variables
6 Apr-03 9, 10 Difference-in-Difference Models, Heteroskedasticity
Apr-17 Mid-Semester Break
7 Apr-10 11, 12 Feasible GLS in R, Graphs & Tables in R
8 Apr-24 13, 14 Binary Outcomes
9 May-01 15, 16 Binary Outcomes, Autocorrelation
10 May-08 17, 18 Non-Stationary Time Series, Stochastic Regressors
11 May-15 19, 20 Stochastic Regressors: 2SLS in R
12 May-22 21, 22 Panel Data Models in R
11
5.11 Accessing R
The software used in this subject is R. R is a free software environment for statistical
computing and graphics. It compiles and runs on a wide variety of UNIX platforms,
Windows and MacOS. In almost all surveys of professional data analysts, data scien-
tists, and statisticians, R is consistently ranked as extremely popular. Interestingly,
R has been an important toolkit that has been used by medical researchers during the
COVID19 pandemic. For this reason, programming skills in R represent an important
skill demanded by employers. Further information, including information about how
to download the free software can be found at:
https://www.r-project.org
RStudio is an integrated development environment (IDE) for R, providing a user-
friendly front end interface. It includes a console, syntax-highlighting editor that
supports direct code execution, as well as tools for plotting, history, debugging and
workspace management. It is strongly recommended that you use RStudio for all
work in tutorials and assignments. You will need to first install R before you
can install RStudio. Further information about RStudio, including information
about how to download the free software can be found at:
https://www.rstudio.com
12
The latest release of R is version R.4.2.2 (‘Innocent and Trusting’), released on Oc-
tober 31,2022. I recommend the following actions:
1. If you already have a version of R and RStudio installed on your computer
from a previous subject completed in 2021 or 2022, you do not need to update.
This version of R and RStudio will be suitable for all the analyses undertaken
in this subject.
2. If you do not have any version of R installed on your computer, then you should
download version R.4.2.2 (‘Innocent and Trusting’).
(a) [Windows] If you are intending to use R in a Windows 64-bit operating
environment, the executable file can be downloaded here:
https://cran.r-project.org/bin/windows
Note: You will require a 64-bit operating environment to run RStudio
(b) [Mac-OS] The instructions for setting up R in a Mac-OS environment are
somewhat more detailed. The precise instructions will depend on the exact
Mac-OS that you are using. Please read the following instructions first:
https://cran.r-project.org/bin/macosx
There are different executable files, depending on the version of Mac-OS
that you are using. You might find it easier to install and run the R if you
are using Mac-OS X release 10.13 (High Sierra) and above.
Note: You may require some additional files to get R working in the Mac-
OS environment. The actual files that you will require will depend upon
the actual Mac-OS environment that you are using. The additional file
XQuartz is available here:
https://cran.r-project.org/bin/macosx
(c) [Windows or Mac-OS] The latest version of RStudio is version 2022.12.0+353
and is available for download from:
https://posit.co/download/rstudio-desktop/
Please select the appropriate executable file for your operating system.
R and RStudio can also be accessed remotely (off campus) using the virtual lab.
You will need to download some software to access R and RStudio through the
VPN. For further information please see the website:
https://students.unimelb.edu.au/campus-life/campuses-and-facilities/
elearning-and-it/myuniapps
There is an extremely active (and passionate) online community devoted to R and its
applications. There are extensive online resources and help for almost any task that
you might want to achieve with R. All of the necessary commands and code necessary
to complete the tutorials will be provided in advance.
13
6 Assessment
6.1 Assessment Overview
Assessment Task Individual Week Due Date Weight
Group
Assignment I Group 4 Sunday March 26, 2023 10%
Online Mid-semester exam Individual 7 Tuesday April 18, 2023 10%
Assignment II Group 10 Sunday May 14, 2023 10%
End-of-semester exam Final Exam Period 70%
6.2 Assignments
There will be two (2) assignments each worth up to 10% of your final grade in this
subject due on Sunday March 26, 2023 and Sunday May 14, 2023 respectively. The
assignment are linked together and will involve completing an econometric analysis of
a topic, chosen by you, on one of the ‘real-world’ data-sets that will be provided to
you.
You will be provided with a full set of online lectures that will help you to complete
these assignments. These will cover:
- How to begin research in Econometrics
- Tips for writing a literature review
- Tips for working with data
- Producing high-quality graphs and tables in R
- Some practical advice
- Research ethics
- Drafting and writing up research in Econometrics
You will also be provided with a rubric for each assignment, as well as an example of
a completed assignment to provide you with further information about the task.
14
Assignment 1 (650 words) will not require you to provide estimation results. The
purpose of this assignment will be to provide some information on the feasibility of
your proposed project and will need to include the following:
- A description of your research question to be examined.
- Data: a description of the data used
- Model: a description of the model to be estimated
- Analysis: a description of the estimation methodology to be used.
At this stage, you will receive extensive feedback on your proposed project.
In Assignment II you will be asked to incorporate your feedback that you have received
from Assignment I, as well as providing:
- A description of your research question to be examined.
- Data: a description of the data used
- Model: a description of the model to be estimated
- Analysis: a description of the estimation methodology to be used.
- Data: a description and interpretation of the descriptive (summary) statistics
associated with your chosen data sample
- Results: a description and interpretation of your main results, which will need
to be presented in tables
- Conclusions: a discussion of your main conclusions, as well as a discussion of
the limitations of your project
You are encouraged to work in small groups to complete the assignments and to
submit the assignments as a group. All members of this group will be given the same
mark. No more than four (4) students may submit an assignment as a group. Of
course, you may choose not to work in a group and submit an assignment on your
own. Note that no two groups may hand in the same assignment. You may to use
a collaboration tool to create a shared workspace and communicate with members of
your group. There are many tools available, however the University currently provides
support for Microsoft Teams:
https://lms.unimelb.edu.au/learning-technologies/microsoft-teams
You will submit your completed assignments electronically using Canvas. When in-
cluding graphs or charts in assignments, patterns rather than colours should be used
to distinguish data series. This is because assignments might be printed by your tutor
who is marking your assignment.
15
Please note that you are required to keep a copy of your assignment after it has been
submitted as you must be able to produce a copy of your assignment at the request
of teaching staff at any time after the submission due date.
Due to the nature of the assignment(s), it will not be possible for you to submit the
assignment after the due date. If you have a genuine and acceptable reason for not
completing an assignment (or any other assessment task), such as illness, please apply
for special consideration.
6.3 On-line Feedback Assessment Test
An on-line mid-semester test worth 10% of your final grade for this subject will be
held on Tuesday April 18, 2023. It will cover the material covered in the lectures up
to Monday April 3, 2023, tutorials 1 through 6.
The primary objective of this on-line test is to provide feedback to you on your
understanding of the subject material and to help you identify any areas that require
further revision.
The test will contain twelve (12) multiple choice questions to be answered in forty (40)
minutes. You will be provided, with a set of practice questions and worked solutions
to assist with your preparation for the test. A copy of the formula sheet included on
the test will be provided in advance.
6.4 End of Semester Exam
The end of semester exam, worth 70% of the final grade for this subject, will cover
all the material covered during lectures and tutorials throughout the semester. This
exam will occur during the University’s normal end of semester assessment period,
with the time, date and location provided by the University’s administration later in
the semester. The exam will be 2 hours in duration. All critical value tables for each
distribution required to complete the exam will be provided to students in the exam
package, as will a formula sheet.
Please note that successful completion of this subject requires a passing grade in the
end-of-semester examination.
Students will be required to bring a non-programmable calculator to the end of
semester exam. The approved calculator for all subjects at the University of Mel-
bourne is the Casio FX82 (any suffix). No equivalent models of calculators will be
permitted.
6.4.1 Information on Calculators in Examinations
Effective from 1 January 2017, the approved calculator for all subjects is the Casio
FX82 (any suffix). No equivalent models of calculators will be permitted in exams.
16
You are required to purchase your own calculator and are responsible for ensuring
your calculator is in good working order with fresh batteries.
6.4.2 Exam Policy
The University requires that you are available for the entire examination period. Spe-
cial exams will not be routinely provided in cases of absence during the examination
period, unless the absence is due to serious illness or other special serious circum-
stances. Please see the Special Consideration web site for more information:
https://students.unimelb.edu.au/your-course/manage-your-course/
exams-assessments-and-results/special-consideration
The examination period for this semester is from Monday June 5 to Friday June 23,
2023.
7 Academic Integrity
7.1 Academic Honesty
The University maintains high academic standards in its courses and subjects and ex-
pects students to conduct themselves in a manner which is fair, honest and consistent
with the principles of academic integrity, particularly when undertaking assessment
and research. Please see:
http://academicintegrity.unimelb.edu.au
There is an online module on academic integrity on the Canvas page that I recommend
you complete at your convenience.
7.2 Plagiarism and Collusion
Presenting material from other sources without full acknowledgement (referred to as
plagiarism) is heavily penalised. Penalties for plagiarism can include a mark of zero
for the piece of assessment or a fail grade for the subject.
Plagiarism is the presentation by a student of an assignment identified as his or her
own work even though it has been copied in whole or in part from another student’s
work, or from any other source (e.g. published books, web-based materials or period-
icals), without due acknowledgement in the text.
Collusion is the presentation by a student of an assignment as his or her own work
when it is, in fact, the result (in whole or in part) of unauthorised collaboration
with another person or persons. Both the student presenting the assignment and the
student(s) willingly supplying unauthorised material are considered participants in
the act of academic misconduct.
17
There is an online module on how to avoid plagiarism on the Canvas page that I
recommend you complete at your convenience.
8 University Services
8.1 Timetable
MyTimetable is a class timetabling system that creates individual timetables for stu-
dents based on submitted class preferences, ensuring everyone has an equitable op-
portunity of getting their preferred class timetable. You will use this system to create
your class timetable prior to each study period.
By following a preference-based model, students who have other commitments,
such as employment or carer responsibilities, or who are returning or living overseas
during the timetabling period, are not disadvantaged by their limited availability.
When allocating class timetables, MyTimetable also takes into consideration factors
such as class size limits and potential clashes to ensure all students are equally ac-
commodated. Further information is available on the web at:
https://students.unimelb.edu.au/admin/class-timetable
8.2 Stop 1: Connecting Students and Services
Stop 1 is here to provide you with a range of support services throughout your uni-
versity degree, from help with enrolment, administration and wellbeing to advice on
building your skills and experiences.
https://students.unimelb.edu.au/stop1
8.3 Academic Skills
Academic Skills offers a range of workshops and resources to help you with study
skills including researching, writing and referencing, presentation skills and preparing
for exams. Visit their website via:
https://students.unimelb.edu.au/academic-skills
8.4 Service Finder
The University of Melbourne offers one of the most comprehensive student support
networks in Australia. Use this site to locate a wide range of services:
http://services.unimelb.edu.au/finder
18
8.5 Student Counselling
You may attend counselling to talk about personal, emotional, or mental health issues
which might be affecting their study and life. The University’s Counselling and Psy-
chological Services (CAPS) provides free, confidential, short-term professional coun-
selling to currently enrolled students and staff.
https://services.unimelb.edu.au/counsel
8.6 Student Equity and Disability Support
Student Equity and Disability Support provides services for students who need on-
going support with their studies. They understand that adjustments to learning and
assessment are sometimes required to allow all students to reach their full potential.
Learn more about the services provided, how to find support and how to register for
assistance:
http://services.unimelb.edu.au/student-equity
8.7 University of Melbourne Library Services
As well as holding an extensive collection of books, ebooks, digital media and period-
icals, library staff provide research guidance and support for students:
http://library.unimelb.edu.au
The following Business and Economics Library Guides have been designed specifically
for Faculty of Business and Economics staff and students:
http://unimelb.libguides.com/sb.php?subject_id=80310
9 Policy
9.1 Alternative Exam Arrangements (AEA)
The definition of and eligibility requirements for alternative exam arrangements (AEA)
can be found via:
http://students.unimelb.edu.au/admin/alternate
9.2 Assessment and Results Policy
The University’s assessment policy provides a framework for the design, delivery and
implementation of assessment of students in award and non-award courses and sub-
jects. Assessment is designed to contribute to high quality learning by students, and
to allow for quality assurance and the maintenance of high academic standards.
https://policy.unimelb.edu.au/MPF1326
19
9.3 Special Consideration
As a student, you may experience extraordinary or unusual circumstances, or ongoing
circumstances that adversely affect your academic performance. The University has
policies in place to support students who are experiencing academic disadvantage.
For more information, visit:
http://students.unimelb.edu.au/admin/special
20
