- Class Number 7455
- Term Code 3260
- Class Info
- Unit Value 6 units
- Mode of Delivery In Person
- Dr Sriram Shankar
- Dr Sriram Shankar
- Class Dates
- Class Start Date 25/07/2022
- Class End Date 28/10/2022
- Census Date 31/08/2022
- Last Date to Enrol 01/08/2022
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.
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.
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. Further, EViews is also available on ANU computers in the labs on campus.
Examination Material or equipment
The mid-term quiz and final exam will be conducted online. Therefore, the student need to have access to a computer.
Essential Textbook: Enders, W. Applied Econometric Time Series, Wiley, 2014. This book can be purchased from the bookstore on campus. The students can also obtain a copy of this book for short term loan from the Chifley library. An online version of the book is also available via ANU library.
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.
Students will be given feedback in the following forms in this course:
- written comments
- verbal comments
- feedback to whole class, groups, individuals, focus group etc
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). Feedback can also be provided to Course Conveners and teachers via the Student Experience of Learning & Teaching (SELT) feedback program. SELT surveys are confidential and also provide the Colleges and ANU Executive with opportunities to recognise excellent teaching, and opportunities for improvement.
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/
Students are expected to check the Wattle site for announcements about this course, e.g. changes to timetables or notifications of cancellations.
|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)|
ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage. https://www.anu.edu.au/students/program-administration/timetabling].
|Assessment task||Value||Due Date||Return of assessment||Learning Outcomes|
|Mid-term Quiz||15 %||27/08/2022||31/08/2022||1,2,3,4,5,6|
|Assignment 1||25 %||02/09/2022||23/09/2022||1,2,3,4,5,6|
|Assignment 2||25 %||21/10/2022||04/11/2022||1,2,3,4,5,6|
|Final Exam||35 %||31/10/2022||04/12/2022||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
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 Integrity Rule before the commencement of their course. Other key policies and guidelines include:
- Academic Integrity Policy and Procedure
- Student Assessment (Coursework) Policy and Procedure
- Special Assessment Consideration Guideline and General Information
- Student Surveys and Evaluations
- Deferred Examinations
- Student Complaint Resolution Policy and Procedure
- Code of practice for teaching and learning
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 Academic Skills website. 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). The submission method is detailed below.
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.
Lectures and Tutorials for this course will be delivered face to face on-campus. Echo360 recordings will be available for students who are unable to attend the lectures. Further, for students unable to come to campus there will be an option for attending zoom based tutorial. 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.
See information above in Assessment Tasks 1 and 4 regarding examination.
Assessment Task 1
Learning Outcomes: 1,2,3,4,5,6
The mid-term Quiz will contain multiple choice questions based on the material covered in Weeks 1 to 4. It will be conducted online in week 5. The return date of mid-term Quiz will be 2022-08-31. The mid-term Quiz will be worth 15% of the total assessment. Further information will be available in week 4. The quiz will open at 9AM and close the same day at 9PM. The duration of quiz will be 30 minutes (including reading time). You will be allowed only one attempt to complete the Quiz.
Assessment Task 2
Learning Outcomes: 1,2,3,4,5,6
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 2022-07-30, 2022-09-02 and 2022-09-23. Assignment 1 will be worth 25% of the total assessment. Further, the Assignment 1 must be submitted online via Turnitin.
Assessment Task 3
Learning Outcomes: 1,2,3,4,5,6
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 2022-09-11, 2022-10-21 and 2022-11-04. Assignment 2 will be worth 25% of the total assessment. Further, the Assignment 2 must be submitted online via Turnitin.
Assessment Task 4
Learning Outcomes: 1,2,3,4,5,6
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). Further, the final exam will be conducted online via Wattle, where students will be submitting answers to questions released as a PDF file. The details regarding the final exam will be posted on Wattle by week 10.
Academic integrity is a core part of the ANU culture as a community of scholars. The University’s students are an integral part of that community. The academic integrity principle commits all students to engage in academic work in ways that are consistent with, and actively support, academic integrity, and to uphold this commitment by behaving honestly, responsibly and ethically, and with respect and fairness, in scholarly practice.
The University expects all staff and students to be familiar with the academic integrity principle, the Academic Integrity Rule 2021, the Policy: Student Academic Integrity and Procedure: Student Academic Integrity, and to uphold high standards of academic integrity to ensure the quality and value of our qualifications.
The Academic Integrity Rule 2021 is a legal document that the University uses to promote academic integrity, and manage breaches of the academic integrity principle. The Policy and Procedure support the Rule by outlining overarching principles, responsibilities and processes. The Academic Integrity Rule 2021 commences on 1 December 2021 and applies to courses commencing on or after that date, as well as to research conduct occurring on or after that date. Prior to this, the Academic Misconduct Rule 2015 applies.
The University commits to assisting all students to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. All coursework students must complete the online Academic Integrity Module (Epigeum), and Higher Degree Research (HDR) students are required to complete research integrity training. The Academic Integrity website provides information about services available to assist students with their assignments, examinations and other learning activities, as well as understanding and upholding academic integrity.
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.
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.
Individual assessment tasks may or may not allow for late submission. Policy regarding late submission is detailed below:
- Late submission permitted. 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.
The Academic Skills website has information to assist you with your writing and assessments. The website includes information about Academic Integrity including referencing requirements for different disciplines. There is also information on Plagiarism and different ways to use source material.
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. Extensions may be granted 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
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 Access 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
Risk and Uncertainty and Applied Econometrics
Dr Sriram Shankar