EFB333 Applied Econometrics
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | EFB333 |
|---|---|
| Prerequisite(s): | EFB222 |
| Equivalent(s): | EFX333 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $2,040 |
| Pre-2021 CSP student contribution | $1,597 The pre-2021 commonwealth supported place (CSP) contribution amount only applies to students enrolled in a course prior to 2021. To learn more, visit our Understanding your fees page. |
| Domestic tuition unit fee | $3,024 |
| International unit fee | $4,176 |
Unit Outline: Semester 2 2024, Gardens Point, Internal
| Unit code: | EFB333 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | EFB222 |
| Equivalent: | EFX333 |
| Coordinator: | Stephen Thiele | sr.thiele@qut.edu.au |
Overview
As a final year unit the focus is primarily on further developing students' theoretical knowledge and applied skills in econometrics, using common methods that business, economics and finance graduates will encounter in practice. These skills are essential for research in economics and finance and are relevant for use in future employment.
Learning Outcomes
On successful completion of this unit you will be able to:
- Apply econometric techniques to analyse and evaluate key theoretical models in economics and finance and exercise independent judgement in the interpretation of the econometric results. [KS 1.2, HO 2.2]
- Analyse data using appropriate econometric techniques and exercise independent judgement in interpreting and reporting the results. [KS 1.2, HO 2.2]
- Apply and reflect on teamwork knowledge and skills for effective collaboration. [TS 4.2]Relates to: UG Business Capabilities: TS (4.2)
Content
Indicative content areas are as follows:
- Review of basic concepts: expectation, variance, covariance, properties of estimators
- Multiple regression
- Inference in multiple regression
- Functional form
- Heteroskedasticity and autocorrelation
- Instrumental variables
- Regression with time series data
- Panel data and treatment effects
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
This unit has formal class contact time of approximately two hours which will be in the form of a lecture.
In place of formal tutorials, tutors will be available to provide learning support relating to the econometric methods covered in the lectures and for help with the Stata package.
Application of econometric techniques forms a major component of this unit. The econometric techniques discussed in lectures is best understood when applied to real data.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment in this unit aims to support your achievement of the unit learning outcomes and course assurance of learning goals. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Problem Set
Students will be provided with a problem set to solve on their own.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.2), HO (2.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Group Project (Applied)
Students will work in groups to develop a research topic, collect and analyse data, and produce a report.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.2), HO (2.2), TS (4.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: End of Semester Examination
Questions may require students to interpret Stata output.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.2), HO (2.2)
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Recommended text(s)
Hill, Griffiths and Lim (2018) Principles of Econometrics (Wiley, 5th ed.)
Other
Suggested Supplementary Textbook (Optional)
Brooks, C. (2008). Introductory Econometrics for Finance 2nd edition. Cambridge University Press.
Additional resources including lecture slides, supplementary notes and tutorial questions, data sets and solutions can be found at the unit's Canvas site: https://Canvas.qut.edu.au
There are several other suitable texts that you may wish to use:
- Greene, W. H. (2003). Econometric Analysis, 5th edition. Prentice Hall.
- Stewart, K. G. (2005). Introduction to Applied Econometrics Thomson.
- Wooldridge, J. M. (2009). Introductory Econometrics, 4th edition. South-Western.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO1, ULO2, Problem Set, Group Project (Applied), End of Semester Examination
KS (1.2): Technical and Technological Skills
Relates to: ULO1, ULO2, Problem Set, Group Project (Applied), End of Semester Examination
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO3, Group Project (Applied)
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, ULO2, Problem Set, Group Project (Applied), End of Semester Examination - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO1, ULO2, Problem Set, Group Project (Applied), End of Semester Examination - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3, Group Project (Applied)
BS06 Bachelor of Business
- Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, ULO2 - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO1, ULO2 - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3
BS08 Bachelor of Business - International
- Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, ULO2 - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO1, ULO2 - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3
Unit Outline: Semester 2 2024, Online
| Unit code: | EFB333 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | EFB222 |
| Equivalent: | EFX333 |
Overview
As a final year unit the focus is primarily on further developing students' theoretical knowledge and applied skills in econometrics, using common methods that business, economics and finance graduates will encounter in practice. These skills are essential for research in economics and finance and are relevant for use in future employment.
Learning Outcomes
On successful completion of this unit you will be able to:
- Apply econometric techniques to analyse and evaluate key theoretical models in economics and finance and exercise independent judgement in the interpretation of the econometric results. [KS 1.2, HO 2.2]
- Analyse data using appropriate econometric techniques and exercise independent judgement in interpreting and reporting the results. [KS 1.2, HO 2.2]
- Apply and reflect on teamwork knowledge and skills for effective collaboration. [TS 4.2]Relates to: UG Business Capabilities: TS (4.2)
Content
Indicative content areas are as follows:
- Review of basic concepts: expectation, variance, covariance, properties of estimators
- Multiple regression
- Inference in multiple regression
- Functional form
- Heteroskedasticity and autocorrelation
- Instrumental variables
- Regression with time series data
- Panel data and treatment effects
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
This unit has formal class contact time of approximately two hours which will be in the form of a lecture.
In place of formal tutorials, tutors will be available to provide learning support relating to the econometric methods covered in the lectures and for help with the Stata package.
Application of econometric techniques forms a major component of this unit. The econometric techniques discussed in lectures is best understood when applied to real data.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment in this unit aims to support your achievement of the unit learning outcomes and course assurance of learning goals. The assessment has been designed in order to allow you to:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment);
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Problem Set
Students will be provided with a problem set to solve on their own.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.2), HO (2.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Group Project (Applied)
Students will work in groups to develop a research topic, collect and analyse data, and produce a report.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.2), HO (2.2), TS (4.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: End of Semester Examination
Questions may require students to interpret Stata output.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.2), HO (2.2)
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Recommended text(s)
Hill, Griffiths and Lim (2018) Principles of Econometrics (Wiley, 5th ed.)
Other
Suggested Supplementary Textbook (Optional)
Brooks, C. (2008). Introductory Econometrics for Finance 2nd edition. Cambridge University Press.
Additional resources including lecture slides, supplementary notes and tutorial questions, data sets and solutions can be found at the unit's Canvas site: https://Canvas.qut.edu.au
There are several other suitable texts that you may wish to use:
- Greene, W. H. (2003). Econometric Analysis, 5th edition. Prentice Hall.
- Stewart, K. G. (2005). Introduction to Applied Econometrics Thomson.
- Wooldridge, J. M. (2009). Introductory Econometrics, 4th edition. South-Western.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO1, ULO2, Problem Set, Group Project (Applied), End of Semester Examination
KS (1.2): Technical and Technological Skills
Relates to: ULO1, ULO2, Problem Set, Group Project (Applied), End of Semester Examination
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO3, Group Project (Applied)
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, ULO2, Problem Set, Group Project (Applied), End of Semester Examination - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO1, ULO2, Problem Set, Group Project (Applied), End of Semester Examination - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3, Group Project (Applied)
BS06 Bachelor of Business
- Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, ULO2 - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO1, ULO2 - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3
BS08 Bachelor of Business - International
- Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, ULO2 - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO1, ULO2 - Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts.
Relates to: ULO3