Unit Outline
BEA242
Introduction to Econometrics
Semester 1, 2024
Satoshi Yamazaki
Tasmanian School of Business & Economics (TSBE)
College of Business and Economics
CRICOS Provider Code: 00586B
Unit Coordinator
Satoshi Yamazaki
Email: Satoshi.Yamazaki@utas.edu.au
 
What is the Unit About?
Unit Description
The goal of the unit is to develop a thorough understanding of basic econometric methods so that the student can, at the end of this unit:Critically evaluate empirical studies in economics and finance which involve use of simple econometric techniques in estimation and inference;Develop an appreciation of the likely problems in data and know how to deal with them;Obtain a good background for a further study in econometrics and applied economics.This unit is compulsory in the Bachelor of Economics degree and it is also an excellent complimentary unit in the Finance major. This unit is the prerequisite for BEA342 Econometrics which itself is the prerequisite for the Honours program in Economics and Finance.
Intended Learning Outcomes
As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.
On completion of this unit, you will be able to:
1.
Select, specify and use appropriate data and linear econometric models to inform economic and business decisions.
2.
Identify and evaluate the causes, consequences and remedies for violations of the classical linear regression model's assumptions.
3.
Demonstrate knowledge of statistical software as well as Interpret and communicate output from statistical software.
Requisites
REQUISITE TYPE
REQUISITES
Pre-requisite
BEA140
Alterations as a result of student feedback
To Be Determined
 
 
Teaching arrangements
ATTENDANCE MODE
TEACHING TYPE
LEARNING ACTIVITY
CONTACT HOURS
FREQUENCY
On Campus
Workshop
Introductory 1-hr workshop, Week 1
1
Once only
Lecture (On Campus)
Pre-recorded 1-hr lecture, once a week
1
Weekly
Workshop
2-hr workshop, fortnightly, commencing in Week 2
2
1 time per fortnight
Independent Learning
5-hrs independent learning
5
Weekly
Online
Online Class
Introductory 1-hr workshop, Week 1
1
Once only
Independent Learning
Pre-recorded 1-hr lecture, once a week
1
Weekly
Online Class
1-hr workshop, weekly, commencing in Week 2
1
Weekly
Independent Learning
5-hrs independent learning
5
Weekly
Attendance / engagement expectations
If your unit is offered On campus, it is expected that you will attend all on-campus and onsite learning activities. This is to support your own learning and the development of a learning community within the unit. If you are unable to attend regularly, please discuss the situation with your course coordinator and/or our UConnect support team.

If your unit is offered Online, it is expected you will engage in all those activities as indicated in the Unit Outline, including any self-directed learning.

If you miss a learning activity for a legitimate reason (e.g., illness, carer responsibilities) teaching staff will attempt to provide alternative activities (e.g., make up readings) where it is possible.
 
The Tasmanian School of Business and Economics regularly hosts Masterclasses and Industry Engagement and Employability Events, which students are encouraged to attend. Registration and details will be available via the College of Business and Economics channel on the Uni App and/or via your Unit Coordinator. 
 
 
How will I be Assessed?
 
For more detailed assessment information please see MyLO.
Assessment schedule
ASSESSMENT TASK #
ASSESSMENT TASK NAME
DATE DUE
WEIGHT
LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:
Online quiz
Week 3
20 %
LO1, LO2, LO3
Assessment Task 2:
Applied Assignment
Week 12
40 %
LO1, LO2, LO3
Assessment Task 3:
Take Home Exam
Exam Period
40 %
LO1, LO2, LO3
 
Assessment details
    
Assessment Task 1: Online quiz
Task Description:
There are five (5) quizzes to be completed online via MyLO in weeks 3, 6, 9, 11 and 13. Each quiz can be sat once at any time within the time it is available. Each will comprise 10 multiple-choice questions.

Task Length:
Each quiz will comprise 10 multiple-choice questions.
Due Date:
Week 3
Weight:
20 %
 
CRITERION #
CRITERION
MEASURES INTENDED
LEARNING OUTCOME(S)
1
Specify linear econometric models appropriate for the economic of business decision problem.
LO1
2
Use data to estimate linear econometric models and interpret the estimates.
LO1
3
Construct forecasts and forecast errors for linear econometric models.
LO1
4
Define the assumptions underpinning linear econometric models.
LO2
5
Test for violations of the assumptions underpinning linear econometric models.
LO2
6
Identify the causes of violations of the assumptions underpinning linear econometric models.
LO2
7
Implement simple remedies for violations of the assumptions underpinning linear econometric models.
LO2
8
Perform and interpret statistical inference using statistical software.
LO3
 
Assessment Task 2: Applied Assignment
Task Description:
This assignment is designed to develop your ability to use econometric software and apply skills of sound econometric modelling and testing. It will also develop your ability to communicate and present econometric arguments and analysis clearly in written form. Detailed guidelines and instructions will be posted on MyLO.

Task Length:
Mutli-part questions.
 
Due Date:
Week 12
Weight:
40 %
 
CRITERION #
CRITERION
MEASURES INTENDED
LEARNING OUTCOME(S)
1
Specify linear econometric models appropriate for the economic of business decision problem.
LO1
2
Use data to estimate linear econometric models and interpret the estimates.
LO1
3
Construct forecasts and forecast errors for linear econometric models.
LO1
4
Define the assumptions underpinning linear econometric models.
LO2
5
Test for violations of the assumptions underpinning linear econometric models.
LO2
6
Identify the causes of violations of the assumptions underpinning linear econometric models.
LO2
7
Implement simple remedies for violations of the assumptions underpinning linear econometric models.
LO2
8
Perform and interpret statistical inference using statistical software.
LO3
9
Apply statistical inference and summary statistics to economic and business arguments.
LO3
10
Effectively communicate economic and business data, econometric concepts and results.
LO3
 
Assessment Task 3: Take Home Exam
Task Description:
The take home exam will comprise of multi-part questions. The exam will cover all the content covered during the semester.

Task Length:
24 hours
Due Date:
Exam Period
Weight:
40 %
 
CRITERION #
CRITERION
MEASURES INTENDED
LEARNING OUTCOME(S)
1
Specify linear econometric models appropriate for the economic of business decision problem.
LO1
2
Use data to estimate linear econometric models and interpret the estimates.
LO1
3
Construct forecasts and forecast errors for linear econometric models.
LO1
4
Define the assumptions underpinning linear econometric models.
LO2
5
Test for violations of the assumptions underpinning linear econometric models.
LO2
6
Identify the causes of violations of the assumptions underpinning linear econometric models.
LO2
7
Implement simple remedies for violations of the assumptions underpinning linear econometric models.
LO2
8
Perform and interpret statistical inference using statistical software.
LO3
9
Apply statistical inference and summary statistics to economic and business arguments.
LO3
 
 
 
How your final result is determined
To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.
 
Submission of assignments
Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.
 
Requests for extensions
If you are unable to submit an assessment task by the due date, you should apply for an extension.
 
A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.
 
The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.
Late penalties
Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.
 
Review of results and appeals
You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.
 
 
 
Required Resources
Required reading materials
You will need the following text [available from the Co-op Bookshop]:
The prescribed textbook, available from the Co-op Bookshop or www.coop-bookshop.com.au is:
Hill, Griffiths & Lim. Principles of Econometrics (5th Edition), Wiley, 2018. ISBN 978-1-119-32094-4.
 
Recommended reading materials
Many students find it useful to consult alternative references as part of their study program. Some useful alternative references are:
Stock & Watson, Introduction to Econometrics, 3rd edition, Addison Wesley, 2010
Wooldridge, Introductory Econometrics, 4th edition, South-Western College, 2008
 
Other required resources
Students must ensure that they have access to the following equipment and software:
• Computer with Internet access and Internet Browser compatible to UTAS’s MyLO.
• Software capable of estimating multiple regression such as MS Excel, EViews, R is required to complete the assignment and workshop exercises. In addition Word processing software is required to complete the assignment.
• Students will be instructed how to use EViews and MS Excel in BEA242 in the workshops to perform econometric analysis.