ECON 1011 - Quantitative Methods for Economic Analysis I

North Terrace Campus - Semester 2 - 2024

This is a course in statistics that focuses on developing analytical techniques and research skills. Enrolment is restricted to the BEc (Adv) students. By the end of the course, students will have an understanding of the complex nature of quantitative research. Students collaborate to set up a real life economic question, collect appropriate data, analyse the data and report on the question. Topics will include sample surveying, regression and correlation analysis, interval estimation and hypothesis testing.

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Course Details

Course Code	ECON 1011
Course	Quantitative Methods for Economic Analysis I
Coordinating Unit	Economics
Term	Semester 2
Level	Undergraduate
Location/s	North Terrace Campus
Units	3
Contact	Up to 4 hours per week
Available for Study Abroad and Exchange	N
Restrictions	Only available to B.Economics (Advanced) students
Assessment	Typically, reports, test & final exam

Course Staff

Course Coordinator: Dr Nadya Baryshnikova

Dr Nadezhda Baryshnikova
Email: nadezhda.baryshnikova@adelaide.edu.au
Office location: Nexus 10, Level 4, Room 4.04
Telephone: 8313 4821
Office hours: To be advised on myUni

Course Timetable

The full timetable of all activities for this course can be accessed from Course Planner.

Course Learning Outcomes

On successful completion of this course, students will be able to:

Apply correctly a variety descriptive and inferential statistical methods.
Interpret, in plan language, the outcomes of statistical methods.
Implement statistical techniques using statistical software and correctly interpret the results.
Apply statistical knowledge in a group based research project; recognise and critically evaluate statistics that are observed in everyday life.

University Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

University Graduate Attribute	Course Learning Outcome(s)
Attribute 1: Deep discipline knowledge and intellectual breadth Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.	1-3
Attribute 2: Creative and critical thinking, and problem solving Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.	1-4
Attribute 3: Teamwork and communication skills Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.	3, 4
Attribute 4: Professionalism and leadership readiness Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.	1-3
Attribute 5: Intercultural and ethical competency Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.	4
Attribute 8: Self-awareness and emotional intelligence Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.	3, 4

Learning Resources

Required Resources

Textbook
There is NO prescribed textbook for this course, though the content will follow closely: Business Statistics, by E. Selvanathan, S. Selvanathan, and G. Keller, 8th Edition. Older versions are OK.

You may also use Business Statistics, 2015, 3rd(Global) edition by Sharpe, De Veaux, and Velleman. Older versions are also OK.

There are also web-based resources that cover the key statistical concepts that we will see in class (e.g. http://onlinestatbook.com/)

Calculator
Students will need a calculator; a basic one that can take squares, square roots would be sufficient. Graphics calculators are allowed but are not necessary.

Statistical software
The course will introduce statistical concepts with an emphasis on learning-by-doing using hands-on experience with the use of statistical software, Stata®. This software is available on the workstations in the computer laboratories in Nexus 10. You can also access Stata through the ADAPT website either on or off campus using your personal computing device. A copy can be downloaded through Information Technology onto one personal device.

Stata will be used in both lecture and practicals and you are expected to develop familiarity with the software. A good working knowledge of Stata will prepare you for quantitative research in the future. Resources for learning the software will be provided in class.

Online Learning

Course materials will be posted on the MyUni course webpage. Extensive use is made of MyUni; please check the announcements regularly.

Learning & Teaching Modes

This course involves the use of lectures and tutorials.

Lectures provide an overview of the course content. Students can expect that they will need to study the textbook in order to understand the materials covered.

The tutorials will involve discussions, solving problem sets, and the use of statistical software (Stata) to address statistical problems.

Before the tutorials, students will be expected to have attended and understood the lectures and to have read the relevant chapter(s) from the text book.

This class is only available for face-to-face (on-campus) students.

Workload

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

The workload for this course should consist of:

Attend lectures 2 hours per week

Attend tutorials 2 hours per week

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This translates to 12 hours per week for a semester course.

Learning Activities Summary

Teaching & Learning Activities	Teaching & Learning Activities Description	Related Learning Outcomes
Lectures	Lectures provide an overview of the course content. Students can expect that they will need to study the textbook in order to comprehend the materials covered.	1-4
Tutorials	Tutorials will involve discussions, solving problem sets, and the use of statistical software (Stata) to address statistical problems.	1-4

Data types and descriptive statistics

Randomness, random variables and probability

Sampling and sampling distributions

Inference—estimation and hypothesis tests for one proportion and one mean

Correlation and regression

Topics in multiple regression

Time series analysis

Data management and statistical analysis using Stata

Specific Course Requirements

The completion of assignment will require access to Stata. This software is available on the workstations in the computer laboratories on campus. You can also access Stata through the ADAPT website either on or off campus using your personal computing device.

The University's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

Assessment Task	Due Date/ Week	Weight	Length	Learning Outcomes
Quizzes (Best 4 of 6 tests count towards final grade)	Every fortnight	40%	Online multiple choice questions via MyUni	1-3
Group project	Week 12	20%	Written report and in-class presentation	4
Final examination	Exam period	40%	2 hours	1-3
Total		100%

Assessment Detail

Quizzes (40%)
There will be 6 quizzes comprising of multiple choice questions during the semester. The quizzes are administered via MyUni. The best 4 out of 6 quizzes will count for assessment.

Because not all of quizzes are counted for assessment, no special considerations will be given to students who miss quiz for medical, compassionate, or any other reasons. For any reason, if you attempt less than 4 quizzes, the weight on the final exam will be increased to reflect the shortfall in the quiz components.

Group project (20% due on the Friday of week 12)
The project is designed for students to demonstrate that they can apply their knowledge of the statistical tools they have learnt to study a real world economic problem. You are required to work on the project in groups of 4-5 students. More details will be provided at the start of the semester. Students are required to present their group project in class on week 12.

Final examination (40%)
There will be a 2 hour final exam. The exam is comprehensive, meaning it can cover all the topics. Statistical tables will be provided.

Submission

Quizzes are administered via MyUni. The report for the group project is to be uploaded and submitted via MyUni (through Turnitin) by the due date.

Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process, and may affect marks. Marks cannot be awarded for answers that cannot be read or understood.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through Access Adelaide.

Additional Assessment
If a student receives 45-49 for their final mark for the course they will automatically be granted an additional assessment. This will most likely be in the form of a new exam (Additional Assessment) and will have the same weight as the original exam unless an alternative requirement (for example a hurdle requirement) is stated in this semester’s Course Outline. If, after replacing the original exam mark with the new exam mark, it is calculated that the student has passed the course, they will receive 50 Pass as their final result for the course (no higher) but if the calculation totals less than 50, their grade will be Fail and the higher of the original mark or the mark following the Additional Assessment will be recorded as the final result.

Student Feedback

The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator