Course coordinator
Dr Dong-Hyuk Kim
Course overview
- Study period
- Semester 2, 2024 (22/07/2024 - 18/11/2024)
- Study level
- Postgraduate Coursework
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Economics School
Introductory applied econometric course for students with basic economic statistics background. Topics covered include: economic models and role of econometrics, linear regression, general linear model, hypothesis testing, specification testing, dummy variables, simple dynamic models and simple cointegration models. Tutorial problems are solved using a relevant econometrics program.
This is an introductory course in applied econometrics. It reviews and builds on the linear regression model. Some materials overlap withﾠintroductory statistics and mathematics courses but are usually considered to be on a more applied level or more advanced level. See the prerequisiteﾠcourses above.
The models studied in this course have numerous applications in economics, finance, marketing, management, and related areas, whether in business, government, or academic research. As a result, this is one of the most important, useful, and practical subjects a BEL student can learn at UQ, as it is highly valued when applying for jobs where analytical skills are crucial. Importantly, as with any math-related course, it may require a lot of work, industriousness, and persistence for the student to succeed.
A feature of the course is the way examples and exercises are drawn from these different discipline areas to illustrate the usefulness and limitations of certain econometric/statistical techniques.
Hands-on experience in applying these techniques is gained through using R, statistical software packages available in the BEL computer laboratories and commonly used in business and government research involving econometrics/statistics. So, it is worth investing your time in learning how to use it well. Students can also freely download R at [https://www.r-project.org] and its IDE RStudio [https://www.rstudio.com/].
More details about the course are given below. Any details may be subject to changes. Changes, updates, or other announcements will be communicated to students via the online Blackboard facility.
Course requirements
Assumed background
Knowledge of elementary differential calculus, basic linear algebra, and undergraduate level probability and statistics.
Prerequisites
You'll need to complete the following courses before enrolling in this one:
ECON1310 or 7300
Incompatible
You can't enrol in this course if you've already completed the following:
ECON2300
Course contact
School enquiries
Student Enquiries, School of Economics
All enquiries regarding student and academic administration (i.e. non-course content information, e.g., class allocation, timetables, extension to assessment due date, etc.) should be directed to enquiries@economics.uq.edu.au.
Enquiries relating specifically to course content should be directed to econ7310@uq.edu.au.
Course staff
Lecturer
Dr Dong-Hyuk Kim
Tutor
Ms Linh Vo
Mr Phyo Myat Aung
Ms April Deng
Ms Sima Dey
Ms Xinghao Yao
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
Tutorial Preferencing: Please refer to My Timetable (available via the myUQ dashboard) for more information on the tutorial preferencing and allocation process.ﾠﾠ
Tutorialsﾠcommence inﾠTeaching Week 2.
Students should refer to the timetable prior to the commencement of classes to ensure that they have the most up-to-date information, as from time to time late room changes may occur. The timetable can be downloaded from Timetable.ﾠ
Public Holidays: Wed 14 August (Royal Queensland Show), Mon 7 October (King's Birthday).
In-Semester Break: 23 - 29 September. Semester 2 classes recommence Mon 30 September.
Aims and outcomes
The aims of this course are to
- introduce a range of single-equation econometric models and estimation methods commonly used in empirical economics research work (by businesses, government agencies, consultants, etc.);
- provide an understanding of which models and methods should be used in particular contexts;
- provide experience in using statistical software to conduct empirical econometric analyses; and
- provide the skills necessary to read and understand basic econometric work reported by others to support decision-making in business, public policy, etc.ﾠ
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Explain key concepts and workhorse models in applied econometrics
LO2.
Apply econometric methods to real-world data and learn the correct way to report and interpret empirical results
LO3.
Choose and implement appropriate econometric techniques to conduct estimation, prediction, and statistical inference
LO4.
Examine the internal and external validities of econometric models applying to specific empirical problems
LO5.
Apply proper econometric methods for economic research, policy evaluation, and business analysis
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Quiz | Online Periodic Assessments | 40% (10% for each quiz) |
16/08/2024 4:00 pm 6/09/2024 4:00 pm 4/10/2024 4:00 pm 25/10/2024 4:00 pm |
| Project | Research Project 1 | 15% |
10/09/2024 4:00 pm |
| Project | Research Project 2 | 15% |
25/10/2024 4:00 pm |
| Examination | Final Exam | 30% |
End of Semester Exam Period 2/11/2024 - 16/11/2024 |
Assessment details
Online Periodic Assessments
- Mode
- Written
- Category
- Quiz
- Weight
- 40% (10% for each quiz)
- Due date
16/08/2024 4:00 pm
6/09/2024 4:00 pm
4/10/2024 4:00 pm
25/10/2024 4:00 pm
- Learning outcomes
- L01, L02, L03, L04, L05
Task description
Online quizzes (via Blackboard) throughout the semester; approximately fortnightly. There will be four quizzes in total, each consisting of multiple-choice questions related to the materials covered in lectures and tutorials. All quizzes will be due at 4:00 PM on their due dates.
Quiz 1: week 4 (12/8-16/8) Lectures 1-3
Quiz 2: week 7 (2/9-6/9) Lectures 4-6
Quiz 3: week 10 (30/9-4/10) Lectures 7-9
Quiz 4: week 13 (21/10-25/10) Lectures 10-12
The Online Quizzes will be accessible through Blackboard. The deadline for quizzes is during the working hours of UQ's St Lucia campus. If you encounter any problems in the process of doing quizzes, please get in touch with Student IT Support. All quizzes must be submitted through Blackboard before the due date and time specified (in the Blackboard). You need to keep evidence of your successful submission, such as the screenshot and/or the receipt email of your submission. Please consider the risk if you decide to wait until the last minute to do the quizzes.
This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 14 days. Extensions are given in multiples of 24 hours.
Requests for the granting of extensions must be submitted through my.UQ: Applying for an extension - my.UQ - University of Queensland with supporting documentation before the submission due date/time. If an extension is approved, the new agreed date for submission will be noted on the application, and the student will be notified through their student email. Extensions cannot exceed the number of days you suffered from a medical condition, as stated on the medical certificate.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
The quiz portal will close on time at the deadline. You will not be able to submit your answers after that unless you apply for and are granted an extension before the deadline.
Research Project 1
- Mode
- Written
- Category
- Project
- Weight
- 15%
- Due date
10/09/2024 4:00 pm
- Learning outcomes
- L01, L02
Task description
Answer all questions following a similar format of the answers to your tutorial questions. When you use R to conduct empirical analysis, you should show your R script(s) and outputs (e.g., screenshots for commands, tables, and figures). When you are asked to explain or discuss something, your response should be brief and compact. To facilitate tutors' grading work, please clearly label all your answers. You should upload your research report via the Turnitin system before the deadline. Do not hand in a hard copy. You are allowed to work on this assignment in groups; that is, you can discuss how to answer these questions with your group members. However, this is not a group assignment, which means that you must answer all the questions in your own words and submit your report separately. The marking system will check the similarity, and UQ's student integrity and misconduct policies on plagiarism apply.
Lectures 1-6.
This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
We strongly suggest you use the Equation Editor in Microsoft Word and submit the Word document. You need to upload your report and appendix (if any, as one and only one file) through the Turnitin portal on the course's Blackboard site.
This course ONLY allows file types that Turnitin can check for similarity. Link of File types checked for similarity: https://web.library.uq.edu.au/library-services/it/learnuq-blackboard-help/learnuq-assessment/turnitin-assignments
The Turnitin portals will close on time at the deadline, and you should allow yourself enough time to complete your assessment and submit it on time, allowing time for possible technical issues or submission problems. In other words, please keep in mind the risk if you decide to wait until the last minute to submit your assessment. If you submit your assignments after the deadline, a late assignment penalty will apply based on the time stamp in the Turnitin system. You can submit your work more than one time, but only your last submission will be marked.
You need to keep evidence of your successful submission, such as the screenshot and/or the receipt email of your Turnitin submission. If you encounter any problem in your submission process, please contact Student IT Support directly.
Submission guidelines
Submit via Turnitin, Blackboard by the due date/time. Email submissions will NOT be accepted.
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 14 days. Extensions are given in multiples of 24 hours.
Requests for the granting of extensions must be submitted through my.UQ: Applying for an extension - my.UQ - University of Queensland with supporting documentation before the submission due date/time. If an extension is approved, the new agreed date for submission will be noted on the application, and the student will be notified through their student email. Extensions cannot exceed the number of days you suffered from a medical condition, as stated on the medical certificate.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
Research Project 2
- Mode
- Written
- Category
- Project
- Weight
- 15%
- Due date
25/10/2024 4:00 pm
- Learning outcomes
- L01, L02, L03
Task description
Answer all questions following a similar format of the answers to your tutorial questions. When you use R to conduct empirical analysis, you should show your R script(s) and outputs (e.g., screenshots for commands, tables, and figures). When you are asked to explain or discuss something, your response should be brief and compact. To facilitate tutors' grading work, please clearly label all your answers. You should upload your research report via the Turnitin system before the deadline. Do not hand in a hard copy. You are allowed to work on this assignment in groups; that is, you can discuss how to answer these questions with your group members. However, this is not a group assignment, which means that you must answer all the questions in your own words and submit your report separately. The marking system will check the similarity, and UQ's student integrity and misconduct policies on plagiarism apply.
Lectures 7-10.
This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
We strongly suggest you use the Equation Editor in Microsoft Word and submit the Word document. You need to upload your report and appendix (if any, as one and only one file) through the Turnitin portal on the course's Blackboard site.
This course ONLY allows file types that Turnitin can check for similarity. Link of File types checked for similarity: https://web.library.uq.edu.au/library-services/it/learnuq-blackboard-help/learnuq-assessment/turnitin-assignments.
The Turnitin portals will close on time at the deadline, and you should allow yourself enough time to complete your assessment and submit it on time, allowing time for possible technical issues or submission problems. In other words, please keep in mind the risk if you decide to wait until the last minute to submit your assessment. If you submit your assignments after the deadline, a late assignment penalty will apply based on the time stamp in the Turnitin system. You can submit your work more than one time, but only your last submission will be marked.
You need to keep evidence of your successful submission, such as the screenshot and/or the receipt email of your Turnitin submission. If you encounter any problem in your submission process, please contact Student IT Support directly.
Submission guidelines
Submit via Turnitin, Blackboard by the due date/time. Email submissions will NOT be accepted.
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 14 days. Extensions are given in multiples of 24 hours.
Requests for the granting of extensions must be submitted through my.UQ: Applying for an extension - my.UQ - University of Queensland with supporting documentation before the submission due date/time. If an extension is approved, the new agreed date for submission will be noted on the application, and the student will be notified through their student email. Extensions cannot exceed the number of days you suffered from a medical condition, as stated on the medical certificate.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
Final Exam
- Mode
- Written
- Category
- Examination
- Weight
- 30%
- Due date
End of Semester Exam Period
2/11/2024 - 16/11/2024
- Learning outcomes
- L01, L02, L03, L04, L05
Task description
The Final Exam is comprehensive. All the topics covered in the course are included. More details will also be released during the last lecture.
This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 120 minutes |
| Calculator options | (In person) Casio FX82 series only or UQ approved and labelled calculator |
| Open/closed book | Closed Book examination - no written materials permitted |
| Exam platform | Paper based |
| Invigilation | Invigilated in person |
Submission guidelines
Deferral or extension
You may be able to defer this exam.
If you are unable to attend a scheduled exam (e.g. due to illness or other unavoidable circumstances which can be evidenced - e.g. medical certificate), you may be eligible to sit a deferred examination at a later time.
Information on grounds for applying for deferred examinations can be viewed here:
https://my.uq.edu.au/information-and-services/manage-my-program/exams-and-assessment/deferring-exam
Course grading
Full criteria for each grade is available in the Assessment Procedure.
| Grade | Cut off Percent | Description |
|---|---|---|
| 1 (Low Fail) | 0% - 29% |
Absence of evidence of achievement of course learning outcomes. |
| 2 (Fail) | 30% - 46% |
Minimal evidence of achievement of course learning outcomes. |
| 3 (Marginal Fail) | 47% - 49% |
Demonstrated evidence of developing achievement of course learning outcomes |
| 4 (Pass) | 50% - 64% |
Demonstrated evidence of functional achievement of course learning outcomes. |
| 5 (Credit) | 65% - 74% |
Demonstrated evidence of proficient achievement of course learning outcomes. |
| 6 (Distinction) | 75% - 84% |
Demonstrated evidence of advanced achievement of course learning outcomes. |
| 7 (High Distinction) | 85% - 100% |
Demonstrated evidence of exceptional achievement of course learning outcomes. |
Additional course grading information
A student’s final overall end of semester percentage mark will be rounded to determine their final grade. For example, 64.5% rounds to 65%, while 64.4% rounds to 64%.
Supplementary assessment
Supplementary assessment is available for this course.
Additional assessment information
Plagiarism
The School of Economics is committed to reducing the incidence of plagiarism. Further information on plagiarism and how to avoid an allegation of plagiarism is available in this course profile under Policies & Guidelines. Please refer to the Academic Integrity Module (AIM). It is strongly recommended that you complete the AIM if you have not already done so.
Learning Advice:ﾠNote that success in a mathematics-related course like this highly depends on regular (e.g., everyday) work on the subject. Indeed, in this class, you will see that understanding of materials covered in any lecture often highly depends on the materials you understood from previous lectures. As a result, waiting for the last moment (e.g., a couple of days) before an assessment (e.g., quiz and assignment) to start studying hard, as some students often do, is likely to be aﾠfailure-proneﾠstrategy. Those of you who will be active and pro-active--digesting the lecture notes soon after the lecture was covered (and, if possible, even before it), digesting the definitions and working out all the steps in derivations and proofs from covered lectures before coming to next lectures and to tutorials--will improve your chances for success and the likelihood to be among the best in the class!
ASSESSMENT TASKS - ADDITIONAL INFORMATION
Assessment for this course involves three types of tasks: (1)ﾠOnline Quizzes (40%), (2) Research Projects (30%), and (3) End of Semester Examination (30%).
Detail of the research projects is provided below:
RESEARCH PROJECTS
Two structured projects are designed so that you are required to apply the techniques learned in this course to analyze the data sets from the real world. As a part of the project, you are expected to set up an economic and corresponding econometric model and write a proposal with research questions, analyze the data to answer the research questions and finally provide a short research report. Projects will require a minimum of a good working knowledge of R, and any deficiencies in your familiarity with them will be detrimental to your mark.
Learning resources
You'll need the following resources to successfully complete the course. We've indicated below if you need a personal copy of the reading materials or your own item.
Library resources
Find the required and recommended resources for this course on the UQ Library website.
Learning activities
The learning activities for this course are outlined below. Learn more about the learning outcomes that apply to this course.
Filter activity type by
Please select
| Learning period | Activity type | Topic |
|---|---|---|
Week 1 (22 Jul - 28 Jul) |
Lecture |
Introduction Course overview; Introduction to econometrics; Review of probability and statistics Learning outcomes: L01 |
Week 2 (29 Jul - 04 Aug) |
Lecture |
Linear Regression with One Regressor Population linear regression model (LRM); Ordinary least squares (OLS) estimator and sample regression line; Measures of fit of the sample regression; Least squares assumptions; Sampling distribution of the OLS estimator Learning outcomes: L01, L02 |
Week 3 (05 Aug - 11 Aug) |
Lecture |
Linear Regression with One Regressor: Inference Hypothesis tests; Confidence intervals; Regression when X is binary; Heteroskedasticity and homoskedasticity; Efficiency of OLS and the Student t distribution. Learning outcomes: L01, L02 |
Week 4 (12 Aug - 18 Aug) |
Lecture |
Linear Regression with Multiple Regressors Omitted variable bias; Causality and regression analysis; Multiple regression and OLS; Measures of fit; Sampling distribution of the OLS estimator Learning outcomes: L02 |
No student involvement (Breaks, information) |
Wednesday - Royal Queensland Show public holiday Students who would normally attend tutorial on this day are advised to attend another session of the week, for this week only. |
|
Week 5 (19 Aug - 25 Aug) |
Lecture |
Inference in Multiple Regressions Hypothesis tests and confidence intervals for one coefficient; Joint hypothesis tests on multiple coefficients; Other types of hypotheses involving multiple coefficients; Control variables; Variable selection Learning outcomes: L02 |
Week 6 (26 Aug - 01 Sep) |
Lecture |
Nonlinear Regression Functions Strategy for modeling nonlinear functions; Non-linear functions of a single independent variable; Interactions between independent variables; Application Learning outcomes: L02 |
Week 7 (02 Sep - 08 Sep) |
Lecture |
Regression with Panel Data Panel Data: What and Why; Fixed Effects Regression; Regression with Time Fixed Effects; Standard Errors for Fixed Effects Regression; Application Learning outcomes: L02, L03 |
Week 8 (09 Sep - 15 Sep) |
Lecture |
Regression with a Binary Dependent Variable Linear probability model; Probit and Logit regression; Estimation and inference in Probit and Logit models; Application Learning outcomes: L05 |
Week 9 (16 Sep - 22 Sep) |
Lecture |
Instrumental Variables Regression IV Regression; Two-Stage Least Squares; General IV Regression Model; Checking Instrument Validity; Application Learning outcomes: L02, L04 |
Mid Sem break (23 Sep - 29 Sep) |
No student involvement (Breaks, information) |
Mid-Semester Break There will be no lectures, tutorials, or consultation sessions this week. |
Week 10 (30 Sep - 06 Oct) |
Lecture |
Experiments and Quasi-Experiments Potential Outcomes, Causal Effects, and Idealized Experiments; Threats to Validity of Experiments; Quasi-Experiments (Differences-in-Differences, IV Estimation, etc.); Threats to Validity of Quasi-Experiments Learning outcomes: L03 |
Week 11 (07 Oct - 13 Oct) |
Lecture |
Introduction to Time Series Time Series Data; Regression Models for Forecasting; Lags, Differences, Autocorrelation, and Stationarity; Autoregression and ADL Models; Application Learning outcomes: L02 |
No student involvement (Breaks, information) |
Monday - King's Birthday public holiday Students who would normally attend tutorial on this day are advised to attend another session of the week, for this week only. |
|
Week 12 (14 Oct - 20 Oct) |
Lecture |
Prediction with Many Regressors and Big Data Big Data; Ridge Regression; Lasso; Principle Components; Application Learning outcomes: L01, L02, L05 |
Week 13 (21 Oct - 27 Oct) |
Lecture |
Revision Review Lectures 1-12 Learning outcomes: L01, L02, L03, L04, L05 |
Policies and procedures
University policies and procedures apply to all aspects of student life. As a UQ student, you must comply with University-wide and program-specific requirements, including the:
- Student Code of Conduct Policy
- Student Integrity and Misconduct Policy and Procedure
- Assessment Procedure
- Examinations Procedure
- Reasonable Adjustments - Students Policy and Procedure
Learn more about UQ policies on my.UQ and the Policy and Procedure Library.