ECON 221 : Introduction to Econometrics

Business and Economics

2022 Semester Two (1225) (15 POINTS)

Course Prescription

Empirical analysis in economics. Focuses on harnessing the power of data and regression techniques to estimate relationships and test hypotheses based on economic models. Emphasises the identification of causal effects critical to policy analysis, decision-making and strategic planning. Covers applications of econometrics in a variety of areas using a statistical computer package. Prerequisite: 15 points from ECON 152, MATHS 108, 130, 150, 153, STATS 101, 102, 108, 125, 191, or at least 18 credits in Mathematics at NCEA Level 3 including at least 9 credits at merit or excellence, or B in CIE A2 Mathematics, or 5 out of 7 in IB Mathematics: Analysis and Approaches (SL or HL)

Course Overview

This course introduces you to the basic statistical techniques used in economic analysis. As a foundation course for economics and related majors, ECON 221 emphasizes on (a) developing the econometric skills necessary to read and understand empirical papers in economics, and (b) the application of econometrics to real-world data using modern statistical software such as STATA. Successful completion of this course will prepare you to evaluate economic policies and conduct proper economic analysis.

Course Requirements

No pre-requisites or restrictions

Capabilities Developed in this Course

Capability 1: Disciplinary Knowledge and Practice
Capability 2: Critical Thinking
Capability 3: Solution Seeking
Graduate Profile: Bachelor of Commerce

Learning Outcomes

By the end of this course, students will be able to:
  1. Identify the mathematical and statistical tools required for econometric analysis. (Capability 1)
  2. Apply the basic principles of econometric modeling and analysis. (Capability 2)
  3. Apply both the fundamental techniques and a wide array of applications involving linear regression estimation. (Capability 1)
  4. Apply regression analysis to real-world economic examples and data sets. (Capability 3)
  5. Compare and contrast hypothesis testings and predictions. (Capability 1, 2 and 3)

Assessments

Assessment Type Percentage Classification
Assignments 30% Individual Coursework
Tests 20% Individual Test
Final Exam 50% Individual Examination
Assessment Type Learning Outcome Addressed
1 2 3 4 5
Assignments
Tests
Final Exam
There will be two assignments, two tests and one final exam. 
Each assignment is worth 15% of the total grade. 
Test 1 is worth 5% and Test 2 is worth 15% of the total grade. 
The final exam will be worth 50%. 
As a general rule, you will need to score 50% to pass the course. Plussage does NOT apply.

Workload Expectations

This course is a standard 15 point course and students are expected to spend 10 hours per week involved in each 15 point course that they are enrolled in.

For this course, you can expect 4 hours of lectures, a one-hour tutorial, 3 hours of reading and thinking about the content, and 3 hours of work on assignments and/or test preparation.

Delivery Mode

Campus Experience

Attendance is expected at scheduled activities including lectures and tutorials  to complete components of the course.
Lectures will be available as recordings. Other learning activities including tutorials  will be available as recordings.
Attendance on campus is required for the exam.
The activities for the course are scheduled as a standard weekly timetable.

Learning Resources

Course materials are made available in a learning and collaboration tool called Canvas which also includes reading lists and lecture recordings (where available).

Please remember that the recording of any class on a personal device requires the permission of the instructor.

Main Textbook:
J.M. Wooldridge, Introductory Econometrics: A Modern Approach, 5th edition, 2013, South-Western (6th edition will also work).

This book is closely followed. You will find it essential for success in the course to regularly follow the textbook readings and applications on the topics covered. There are helpful questions at the end of each chapter. The book has a useful appendix for a review of probability and statistical distributions.

Main Supplementary Reading:
J.H. Stock and M.W. Watson, Introduction to Econometrics, 4th edition, 2019, Pearson Education.

I will also provide supplementary notes that will be available on Canvas.

Student Feedback

At the end of every semester students will be invited to give feedback on the course and teaching through a tool called SET or Qualtrics. The lecturers and course co-ordinators will consider all feedback and respond with summaries and actions.

Your feedback helps teachers to improve the course and its delivery for future students.

Class Representatives in each class can take feedback to the department and faculty staff-student consultative committees.

The course will contain more examples and applications than in the recent past, and some review of basics. 

Academic Integrity

The University of Auckland will not tolerate cheating, or assisting others to cheat, and views cheating in coursework as a serious academic offence. The work that a student submits for grading must be the student's own work, reflecting their learning. Where work from other sources is used, it must be properly acknowledged and referenced. This requirement also applies to sources on the internet. A student's assessed work may be reviewed against online source material using computerised detection mechanisms.

Class Representatives

Class representatives are students tasked with representing student issues to departments, faculties, and the wider university. If you have a complaint about this course, please contact your class rep who will know how to raise it in the right channels. See your departmental noticeboard for contact details for your class reps.

Inclusive Learning

All students are asked to discuss any impairment related requirements privately, face to face and/or in written form with the course coordinator, lecturer or tutor.

Student Disability Services also provides support for students with a wide range of impairments, both visible and invisible, to succeed and excel at the University. For more information and contact details, please visit the Student Disability Services’ website http://disability.auckland.ac.nz

Special Circumstances

If your ability to complete assessed coursework is affected by illness or other personal circumstances outside of your control, contact a member of teaching staff as soon as possible before the assessment is due.

If your personal circumstances significantly affect your performance, or preparation, for an exam or eligible written test, refer to the University’s aegrotat or compassionate consideration page https://www.auckland.ac.nz/en/students/academic-information/exams-and-final-results/during-exams/aegrotat-and-compassionate-consideration.html.

This should be done as soon as possible and no later than seven days after the affected test or exam date.

Learning Continuity

In the event of an unexpected disruption, we undertake to maintain the continuity and standard of teaching and learning in all your courses throughout the year. If there are unexpected disruptions the University has contingency plans to ensure that access to your course continues and course assessment continues to meet the principles of the University’s assessment policy. Some adjustments may need to be made in emergencies. You will be kept fully informed by your course co-ordinator/director, and if disruption occurs you should refer to the university website for information about how to proceed.

Student Charter and Responsibilities

The Student Charter assumes and acknowledges that students are active participants in the learning process and that they have responsibilities to the institution and the international community of scholars. The University expects that students will act at all times in a way that demonstrates respect for the rights of other students and staff so that the learning environment is both safe and productive. For further information visit Student Charter https://www.auckland.ac.nz/en/students/forms-policies-and-guidelines/student-policies-and-guidelines/student-charter.html.

Disclaimer

Elements of this outline may be subject to change. The latest information about the course will be available for enrolled students in Canvas.

In this course students may be asked to submit coursework assessments digitally. The University reserves the right to conduct scheduled tests and examinations for this course online or through the use of computers or other electronic devices. Where tests or examinations are conducted online remote invigilation arrangements may be used. In exceptional circumstances changes to elements of this course may be necessary at short notice. Students enrolled in this course will be informed of any such changes and the reasons for them, as soon as possible, through Canvas.

Published on 14/07/2022 05:25 p.m.