This course will examine modern applied research on macroeconomic and financial issues. The main objective is to allow students to understand and critically appraise applied work on macroeconomic and financial topics.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

Upon successful completion of the requirements for this course, students will be able to:

 

•  Select a model and combine from a model space comprising univariate or multivariate 
• Apply and explain the principles of parsimony and fit;
• Explain the methodology of Dynamic Stochastic General Equilibrium modelling;
• Reconcile theory and evidence; and,
• Conduct hypothesis and diagnostic testing.

 

 

 

 

 

Research-Led Teaching

The in-class examples, tutorial and assignment problems will be drawn from research in the area of macro econometrics.

Additional Course Costs

EViews econometric software will be used in this course. A Student version of the software may be purchased separately. Access to Eviews software will be made available to the students remotely, potentially through the Virtual Desktop. 

Examination Material or equipment

The two quizzes and final exam will be conducted online. Therefore, the student need to have access to a computer.

Required Resources

Essential Textbook:  Enders, W. Applied Econometric Time Series, Wiley, 2014. This book can be purchased from the bookstore on campus. Students can also obtain a copy of this book for short term loan from the Chifley library. Availability of an online version is currently being investigated and information will be advertised when known.

Recommended Resources

Other recommended texts (not compulsory):

·       Brooks, C., Introductory Econometrics for Finance, Cambridge, 2004*.

·       Hamilton, J. D., Time Series Analysis, Princeton, 1994*.

·       Harris, R. and R. Sollis, Applied Time Series Modelling and Forecasting, Wiley, 2003*.

·       Stock, J. & M. Watson, Introductory Econometrics, Addison-Wesley, 2003*.

·       Verbeek, M., A Guide to Modern Econometrics, Wiley, 2008*.

·       Wooldridge, J., Introductory Econometrics: A Modern Approach, 2nd Ed. South-Western College Publishing, 2001*

*The students can obtain a copy of the recommended books for short term loan from Chifley or Hancock library.

Staff Feedback

Students will be given feedback in the following forms in this course:

• Written comments
• Verbal comments
• Feedback to the whole class, to groups, to individuals, focus groups

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Other Information

Scaling

Your final mark for the course will be based on the raw marks allocated for each of your assessment items. However, your final mark may not be the same number as produced by that formula, as marks may be scaled. Any scaling applied will preserve the rank order of raw marks (i.e. if your raw mark exceeds that of another student, then your scaled mark will exceed the scaled mark of that student), and may be either up or down.

Support for Students

The University offers a number of support services for students. Information on these is available online from http://students.anu.edu.au/studentlife/

Announcements

Students are expected to check the Wattle site for announcements about this course, e.g. changes to timetables or notifications of cancellations.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Univariate time series (Enders, chapter 1 and 2)
2	Stationary ARMA models (Enders, chapter 2)
3	Trend and difference stationary processes (Enders, chapter 4)
4	Testing for unit roots – I (Enders, chapter 4)
5	Testing for unit roots – II (Enders, chapter 4)	Mid-term Quiz
6	Modelling volatility – I (Enders, chapter 3).	Assignment 1 due
7	Modelling volatility – II (Enders, chapter 3).
8	VAR models - I (Enders, chapter 5)
9	VAR models - I (Enders, chapter 5)
10	VAR models - II (Enders, chapter 5)
11	Conitegration, long-run equilibria, error correction models – I (Enders, chapter 6)	Assignment 2 due
12	Conitegration, long-run equilibria, error correction models – II (Enders, chapter 6)
13	Examination period

Tutorial Registration

The tutorial related presentation will be pre-recorded and uploaded onto Wattle web-site.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Mid-term Quiz	15 %	26/08/2020	31/08/2020	1,2,3,4,5,6
Assignment 1	25 %	02/09/2020	23/09/2020	1,2,3,4,5,6
Assignment 2	25 %	21/10/2020	04/11/2020	1,2,3,4,5,6
Final Exam	35 %	31/10/2020	04/12/2020	1,2,3,4,5,6

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

Policies

ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Policy and General Information
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website Students may choose not to submit assessment items through Turnitin. In this instance you will be required to submit, alongside the assessment item itself, hard copies of all references included in the assessment item.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

Participation

This course will be delivered online. The lectures will be live via zoom and tutorials for this course will be pre-recorded and uploaded onto Wattle. In addition, the lecture and tutorial related materials will also be made available via Wattle. Tutorial solutions will not be separately provided and so the students are expected to carefully go through the recorded tutorials. The second lecture (1 hour in duration) in each week will include a 1/2 hour interactive session for questions/discussion related to the corresponding lecture and tutorial. Further, in case the students have any remaining questions regarding the tutorial or/and lecture related materials, they are encouraged to attend a consultation session with the Lecturer.

Examination(s)

See information above in Assessment Tasks 1 and 4 regarding examination.

Assessment Task 1

Mid-term Quiz

The mid-term Quiz would contain multiple choice questions based on the material covered in Weeks 1 to 4. It will conducted online in week 5. The return date of mid-term Quiz will be 2020-08-31. The mid-term Quiz will be worth 15% of the total assessment. Further information will be available in week 4.

Assessment Task 2

Assignment 1

Assignment 1 will involve numerical as well short answer questions based on the material covered in Weeks 1 to 5. The students must use EVIEWS software for analysing data for this assignment. The release date of questions, due date for Assignment 1 and return date will respectively be 2020-07-30, 2020-09-02 and 2020-09-23. Assignment 1 will be worth 25% of the total assessment.

Assessment Task 3

Assignment 2

Assignment 2 will involve numerical as well short answer questions based on the material covered in Weeks 6 to 11. The students must use EVIEWS software for analysing data for this assignment. The release date of questions, due date for Assignment 2 and return date will respectively be 2020-09-11, 2020-10-21 and 2020-11-04. Assignment 2 will be worth 25% of the total assessment.

Assessment Task 4

Final Exam

A final exam will be held during the ANU final exam period. It will cover material from the entire course (that is, Weeks 1 to 12). The final exam will be worth 35% of the total assessment. The duration of the final exam will be two hours (excluding reading time). The details regarding the final exam will be posted on Wattle by week 10.

Academic Integrity

Academic integrity is a core part of our culture as a community of scholars. At its heart, academic integrity is about behaving ethically. This means that all members of the community commit to honest and responsible scholarly practice and to upholding these values with respect and fairness. The Australian National University commits to embedding the values of academic integrity in our teaching and learning. We ensure that all members of our community understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with. The University has policies and procedures in place to promote academic integrity and manage academic misconduct. Visit the following Academic honesty & plagiarism website for more information about academic integrity and what the ANU considers academic misconduct. The ANU offers a number of services to assist students with their assignments, examinations, and other learning activities. The Academic Skills and Learning Centre offers a number of workshops and seminars that you may find useful for your studies.

Online Submission

In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education).

You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Unless an exemption

has been approved by the Associate Dean (Education) submission must be through Turnitin.

Hardcopy Submission

For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

Late Submission

Late submission of assessment tasks without an extension are penalised at the rate of 5% of the possible marks available per working day or part thereof. Late submission of assessment tasks is not accepted after 10 working days after the due date, or on or after the date specified in the course outline for the return of the assessment item. Late submission is not accepted for take-home examinations.

Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Returning Assignments

Please see the Assessment tasks section above. The dates for returning the assignments will also be posted on Wattle.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure The Course Convener may grant extensions for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Resubmission of Assignments

NA

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information. In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service — including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy. If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes. Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Diversity and inclusion for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents undergraduate and ANU College students
• PARSA supports and represents postgraduate and research students