Breakdown:
Tutorial Attendance and Participation: 20%
(Optional Forecasting Project)
Midterm (Structured Questions): 30%
Final (Structured Questions): 50%
Review:
– Content is very light, for the first three weeks or so, the lecturer gave a review of some basic probability/statistics and concepts in EC3303.
– The mathematics required is very basic, solving simple equations, differentiation, first-order and second-order conditions, expectation, variance and covariance, conditional probability.
– This module is easy in my opinion and some parts of the module can be really dry but it is a really useful module as you can see how different models are used for different purposes e.g. forecasting or to study the correlation between variables
– It will be an added bonus if you can pick up the STATA commands and run some regressions on your own.
Assessment/Tips:
– Do attend all tutorials and attempt the questions beforehand so that you can present them in class which counts towards your participation. The tutor will nominate students to present to ensure everyone has a fair chance to present.
-There is an optional forecasting project that counts towards a very small portion of your participation, would highly recommend you to do it as it is a good chance to practice your STATA skills and apply the concepts you’ve learned in a real-life situation.
– Midterms and final examinations were similar in difficulty and style, the lecturer provides many past year papers and solutions to them so do practice some of them if not all. Pay attention to tiny details in the lecture notes and reflect upon them as the exams can be quite comprehensive.
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