Program Overview

Introduction to ECON2041 – Introductory Econometrics

ECON2041 – Introductory Econometrics is a unit offered by Macquarie University, focusing on the main econometric techniques used by businesses and economists in analyzing economic relationships, marketing, and finance.

General Information

• Unit convenor and teaching staff: Lecturer and Unit Convenor Emilia Tjernstrom
• Credit points: 10
• Prerequisites: STAT1250 or STAT1170 or STAT1371 or FOSE1005 or FOSE1015 or FOSE1025 or COMP1000
• Corequisites: None
• Co-badged status: None
• Unit description: This unit introduces students to the critical building blocks for making the link between data and established evidence, focusing on estimation and hypothesis testing, simple and multiple regression, prediction, and the interpretation and evaluation of regression models within the classical linear regression model.

Learning Outcomes

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

• Analyse and apply key statistical concepts, including probability distributions, parameters and estimators, the sampling distribution of an estimator, point and interval estimation, and hypothesis testing.
• Specify, estimate, and interpret a regression model.
• Summarise and interpret the estimation results, and draw valid inferences utilising hypothesis tests.
• Critically evaluate the assumptions of a classical (or standard) regression model and the consequences of a violation of the assumptions.
• Employ an econometric software program to solve an econometric problem.

General Assessment Information

• Late Assessment Submission Penalty: A 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of '0' will be awarded even if the assessment is submitted.

Assessment Tasks

• Formal and Observed Learning: Exam (50%, no hurdle, due during the University examination period)
• Skills Development: Econometric Problem Solving (30%, no hurdle, due on 17/10/2025)
• Skills Development: Knowledge Quiz (20%, no hurdle, due on 19/09/2025)

Formal and Observed Learning: Exam

• Assessment Type: Examination
• Indicative Time on Task: 35 hours
• Due: University examination period
• Weighting: 50%
• Purpose: To demonstrate expertise gained in this unit through a 2-hour, on-campus, closed-book exam.

Skills Development: Econometric Problem Solving

• Assessment Type: Problem set
• Indicative Time on Task: 25 hours
• Due: 17/10/2025
• Weighting: 30%
• Purpose: To develop an understanding of econometric techniques and theory and how they can be applied to solve practical problems in economics.

Skills Development: Knowledge Quiz

• Assessment Type: Quiz/Test
• Indicative Time on Task: 20 hours
• Due: 19/09/2025
• Weighting: 20%
• Purpose: To ensure acquisition of the concepts and skills that are foundational to applied econometrics.

Delivery and Resources

Delivery

• This unit will be delivered through weekly pre-recorded lectures, a weekly hour-long face-to-face lecture, and a weekly tutorial.
• The weekly F2F lecture will be live-streamed for online students and recorded.

Required Textbook

• Wooldridge, J. M., Wadud, M., Lye, J., and Joyeux, R. (2021) Introductory Econometrics (2nd Asia-Pacific ed.)

Technology and Learning Materials

• Software used: Excel, Zoom, Python
• Students will also need to access other course materials via the MQ learning management system, iLearn.

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular:

• Academic Appeals Policy
• Academic Integrity Policy
• Academic Progression Policy
• Assessment Policy
• Fitness to Practice Procedure
• Assessment Procedure
• Complaints Resolution Procedure for Students and Members of the Public
• Special Consideration Policy

Student Support

Macquarie University provides a range of support services for students, including:

• Academic Success
• The Library
• IT Support
• Accessibility and disability support
• Mental health support
• Safety support
• Social support
• Student Advocacy
• Student Enquiries via the Service Connect Portal

Academic Integrity

At Macquarie, academic integrity is at the core of learning, teaching, and research. The university offers resources and services to help students reach their potential, including free online writing and maths support, academic skills development, and wellbeing consultations.