ECON20003

Quantitative Methods 2

Subject Resources

There is a prescribed textbook and a recommended text for this subject.

Prescribed Reference

W - Wooldridge, J.M., Wadud, M., Lye, J. and Joyeux R. (2021): Introductory Econometrics, 2nd Asia-Pacific Edition, Cengage Learning Australia.

This is the latest version of this textbook. In case you have the 1st edition, do not worry, it will suffice, though chapter/section numbers, page numbers and exercise numbers might be different.

Link to purchase this book: https://au.cengage.com/c/isbn/9780170439534/.

Supplementary / Recommended Reading

S - Selvanathan, E.A., Selvanathan, S. and G. Keller (2021): Business Statistics, 8th edition, Cengage Learning Australia.

This is the latest version of this textbook. In case you have the 7th edition, do not worry, it will suffice, though chapter/section numbers, page numbers and exercise numbers might be different. Note, however, that the abridged version of this textbook sold by some bookshops is NOT the recommended text for QM2.

Link to purchase this book: https://au.cengage.com/c/isbn/9780170439527/.

In addition, comprehensive lecture slides will be provided on LMS in due time for all topics.

Academic Integrity

Academic Honesty

The University maintains high academic standards in its courses and subjects and expects 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. http://academicintegrity.unimelb.edu.au/.

Referencing

Each source used for a written piece of assessment must be referenced. This is to acknowledge that your material is not based entirely on your own ideas, but is based, in part, on the ideas, information, and evidence of others. This is desirable as you are attending University to learn from others.

It is important that all material you present for assessment is referenced correctly. Material that has not been referenced correctly may be considered plagiarised, and as such may be penalised. We will also look for evidence that material included in the bibliography has been used in the assignment. Including references that have not been used may also result in your assignment being penalised.

You will be required to use the APA system or Harvard System of referencing.

The Library provides advice on referencing (http://library.unimelb.edu.au/cite). http://www.library.unimelb.edu.au/recite.

The Academic Skills Unit has produced resources to assist students with referencing https://services.unimelb.edu.au/academicskills/undergrads/top_resources

University Services

Timetable

MyTimetable is a class timetabling system that creates individual timetables for students based on submitted class preferences, ensuring everyone has an equitable opportunity 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, aren’t 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 accommodated. Further information is available on the web at https://students.unimelb.edu.au/admin/class-timetable

Stop 1: Connecting Students and Services

Stop 1 is here to provide you with a range of support services throughout your university degree, from help with enrolment, administration and wellbeing to advice on building your skills and experiences. https://students.unimelb.edu.au/stop1

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 http://services.unimelb.edu.au/academicskills.

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

Student Counselling

Students attend counselling to talk about personal, emotional, or mental health issues which might be affecting their study and life. The University’s Counselling and Psychological Services (CAPS) provides free, confidential, short-term professional counselling to currently enrolled students and staff. See https://services.unimelb.edu.au/counsel/individual.

Student Equity and Disability Support

Student Equity and Disability Support provides services for students who need ongoing 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 at http://services.unimelb.edu.au/student-equity

University of Melbourne Library Services

As well as holding an extensive collection of books, ebooks, digital media and periodicals, library staff provide research guidance and support for students. See http://library.unimelb.edu.au/

These Business and Economics Library Guides have been designed specifically for Faculty of Business and Economics staff and students. See http://unimelb.libguides.com/sb.php?subject_id=80310

Policy

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 subjects. 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.

Assignment Extension

No late assignments are accepted, and no extensions will be given so that those who do submit their assignments on time can get timely feedback. Students who have valid reasons for not submitting an assignment can apply for special consideration to get the assignment mark transferred to the final exam. Special consideration applications should be submitted here: http://students.unimelb.edu.au/admin/special.

Exam Policy

The University requires that you are available for the entire examination period. Please see the University's Principal Dates via http://www.unimelb.edu.au/dates#2020 for the full annual calendar. Supplementary exams will not be provided in cases of absence during the examination period unless the absence is due to serious illness or other serious circumstances and a Special Consideration application is submitted and approved.

Plagiarism and Collusion

Plagiarism (failure to cite your sources correctly and completely) and collusion (unauthorised collaboration with another person to prepare an assessment task) are considered academic misconduct and attract severe penalties. More information is available on the University’s Academic Integrity website via http://go.unimelb.edu.au/rha6.

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.

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.

Zoom - Student privacy

The university policy and guidelines on the privacy rights of students in Zoom meetings and recordings and situations where an audio and video presence may be required can be read here: https://lms.unimelb.edu.au/students/student-guides/zoom-student-privacy.

Consultations and Discussion Board

If you need assistance during the semester, you have several options.

Lecturer Consultations

During the semester László Kónya is available for Zoom consultations on Tuesday from 11:00 to 12:00. At all other times, he can be contacted by email.

Tutor Consultations

There are several tutors for this subject. Starting from week 1, each tutor will set aside one hour each week to meet with students for individual consultations in person or on Zoom. The exact times and locations and the links to the Zoom consultations will be provided on the LMS page under the Zoom menu item.

Ed Discussion Board

The Ed Discussion Board allows students to direct questions to the QM2 teaching team via the LMS. Starting from week 3, on weekdays a team member will attempt to answer the questions within 24 hours.

The questions and the answers can be accessed by all students in the subject, allowing everyone to benefit from them. However, your identity will not be revealed to other students. Even if you do not want to ask a question, you can still view existing questions and answers.

Note that the Ed Discussion Board is not designed to replace the lectures, the tutorials, and the consultations, but rather to complement them as a last resort. Nor is it intended to be a substitute for thought or using your own brain power. You will learn more effectively if you first make a conscientious effort to work things out for yourself. Simple questions that can be answered by referring to the prescribed readings or the lecture slides will not usually be answered.

You can access the Ed discussion board via Modules located in the navigation menu of the LMS.

When using the Ed Discussion Board, please adhere to the following.

1. Students must first check that their question has not already been answered on the Discussion Board.

2. Questions should be short, with only one specific question in each posting. If students have more than one question, use a separate posting for each one.

3. Questions must be specific. They should NOT be open ended, such as “I do not understand what a t-test is. What is it?” If you do not understand concepts, please see a tutor or the lecturer during their consultation hour.

4. Do not ask for the solutions to tutorial questions or assignment questions, even after they are completed. Brief solutions to tutorial questions and assignment questions will be made available on the LMS.

Further Information

Statistical Software

Students will be using the R / RStudio software packages to complete tutorial questions and assignments. They can be downloaded and installed free of charge. You can find the instructions for downloading and installing R and RStudio on a Windows computer in the Tutorial 1 handout. If you have a Mac computer and have difficulty installing these software packages on it, you might get help from Student IT at https://studentit.unimelb.edu.au/.

If you are not familiar with these packages, do not worry. Detailed R / RStudio instructions with screen shots will be included in the tutorial materials.

Comparison of QM2 with Econometrics 1

This subject covers different material to that covered in ECOM20001 Econometrics 1. The techniques covered in QM2 are more varied and are less focused on regression analysis. There is still a significant proportion of QM2 devoted to regression analysis, but the statistical techniques covered in QM2 provide a more general overview of techniques in addition to regression. Specifically, QM2 includes an introduction to nonparametric methods, analysis of variance, and chi-square tests for the analysis of frequencies that are typically not covered in Econometrics 1. Note that QM2 is not necessarily easier than ECOM20001. We cover a larger breadth of material, but in less depth. In recognition of the complementary nature of these subjects you may take both QM2 and Econometrics 1. You can learn more econometrics in later years without doing Econometrics 1 by taking Basic Econometrics (ECOM30001) in 3rd year. Students contemplating honours in Economics or Finance must include ECOM20001 Econometrics 1 and ECOM30002 Econometrics 2 in their program.