How to do well in ECON141

reddevil89 · 23 Oct 2009, 12:16 PM

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Hi, I hope someone could give me some tips about ECON141. I got 92 in STAT170 (top20), but then I'm really struggling with this unit, I really don't know why, the stuff is very similar to Stat170 but the lecturer makes it very hard to understand. Please help me

BoganBoy · 23 Oct 2009, 9:38 PM

hey econ141 should be so hard if you had such a good mark for stat. I recommend you to focus on the later topics on multicollinearity, heteroxxx etc. they ALWAYS ask you about 'what are the effects of these, how to you spot it, does that make your test invalid in anyway etc'. the lecture notes summarized their consequence etc very well so basically you could of rote learnt it and get full mark for those. thats prob the best advice i can give you. good luck.

bb

reddevil89 · 24 Oct 2009, 6:17 PM

Thanks a lot Bogan

What are they gonna ask in the final exam? And what should I study to do well in the final?

BoganBoy · 24 Oct 2009, 6:34 PM

It would sound like im too lazy to answer your question properly but just get a past paper and have a look at what type of questions they have. Your final will be the same thing but with different numbers.

I had a friend telling me this last year, didnt quite believed him, but got proven wrong when i saw the questions.

MC is prob the one with the most variability but you should be able to score decently in that. (what is critical value of 95% confidence etc etc) Cant remember too much about long answer but i know there are question about multicollinearity etc that are worth 10 marks each.

My advice should be relevant to you because I've done this unit in 2nd sem last year. And as far as i know theres quite a difference between 1st/2nd sem offerings so place less weight on words of ppl whos done it last sem.

gl

bb

atreus · 25 Oct 2009, 9:21 PM

As BoganBoy has said, semester 1 is different to semester 2. Apparently, sem 1 tends to have an economics focus, whereas sem 2 has more of a statistics focus. But my exam (sem 1), from memory, included: 1) 40 multiple choice - i think you get a couple of sets of data and you have about 12 questions for each set of data, and then there are a few random multiple choice. So for multiple choice, it's mainly calculations - confidence intervals, betas, etc. 2) then there was a long answer section worth 60 marks (either 10 Q x 6 marks or 6 Q x 10 marks). Basically, you get a data set, some graphs, some explanations of the study, etc. and you have to comment on things like heteroscedasticity, multicollinearity, autocorrelation and the other issues. so for this section, for each of these issues/concepts, know: i) definitions, ii) how to detect each of them from graphs or variables given iii) the consequences of the problems iv) and maybe ways you could rectify/correct the problem if possible. Also, out of interest, how did you end up finding where you came in STAT170? Did you get a letter?

reddevil89 · 27 Oct 2009, 9:30 PM

Thanks to BoganBoy and atreus, I'll try to do my best, it's just really so boring that I don't even want to touch it.... Anyway, where can I find the past exams papers for ECON141?
To atreus: yeah, a letter to my home address.

ascentyx · 31 Oct 2009, 1:44 PM

Quote:

Originally Posted by reddevil89

Thanks to BoganBoy and atreus, I'll try to do my best, it's just really so boring that I don't even want to touch it.... Anyway, where can I find the past exams papers for ECON141?
To atreus: yeah, a letter to my home address.

Wow. Did they actually tell u what u came (like ur rank) or was it just a letter congratulating u on ur hd. I got 91 for 171 and just got a congrats letter lol (but i prolly didnt go well enuf to get a ranking)

reddevil89 · 5 Nov 2009, 8:59 PM

Quote:

Originally Posted by ascentyx

Wow. Did they actually tell u what u came (like ur rank) or was it just a letter congratulating u on ur hd. I got 91 for 171 and just got a congrats letter lol (but i prolly didnt go well enuf to get a ranking)

I haven't even seen it yet:P. They sent to my home address (my home in Vietnam) and my parents told me. I thought they said I was in top 20. Anyway, that's isn't a worry, I'm still struggling with Econ141 though

.
Question about 141: the final's gonna very similar to sample paper, right? and do I have to memorise all formulas as only some of them will be provided in the exam?

23 Oct 2009, 12:16 PM	#1 (permalink)
reddevil89 Junior Member HSC: 2008 Gender: Male Join Date: Jan 2009 Posts: 33 Last Activity: 10 Nov 2009, 9:57 PM	How to do well in ECON141 You can hide this advertisement by registering. Hi, I hope someone could give me some tips about ECON141. I got 92 in STAT170 (top20), but then I'm really struggling with this unit, I really don't know why, the stuff is very similar to Stat170 but the lecturer makes it very hard to understand. Please help me Last edited by reddevil89; 23 Oct 2009 at 12:29 PM.

23 Oct 2009, 9:38 PM	#2 (permalink)
BoganBoy Member HSC: 2006 Gender: Male Join Date: Nov 2004 Posts: 109 Last Activity: Today, 5:30 PM	Re: How to do well in ECON141 hey econ141 should be so hard if you had such a good mark for stat. I recommend you to focus on the later topics on multicollinearity, heteroxxx etc. they ALWAYS ask you about 'what are the effects of these, how to you spot it, does that make your test invalid in anyway etc'. the lecture notes summarized their consequence etc very well so basically you could of rote learnt it and get full mark for those. thats prob the best advice i can give you. good luck. bb

24 Oct 2009, 6:17 PM	#3 (permalink)
reddevil89 Junior Member HSC: 2008 Gender: Male Join Date: Jan 2009 Posts: 33 Last Activity: 10 Nov 2009, 9:57 PM	Re: How to do well in ECON141 Thanks a lot Bogan What are they gonna ask in the final exam? And what should I study to do well in the final?

24 Oct 2009, 6:34 PM	#4 (permalink)
BoganBoy Member HSC: 2006 Gender: Male Join Date: Nov 2004 Posts: 109 Last Activity: Today, 5:30 PM	Re: How to do well in ECON141 It would sound like im too lazy to answer your question properly but just get a past paper and have a look at what type of questions they have. Your final will be the same thing but with different numbers. I had a friend telling me this last year, didnt quite believed him, but got proven wrong when i saw the questions. MC is prob the one with the most variability but you should be able to score decently in that. (what is critical value of 95% confidence etc etc) Cant remember too much about long answer but i know there are question about multicollinearity etc that are worth 10 marks each. My advice should be relevant to you because I've done this unit in 2nd sem last year. And as far as i know theres quite a difference between 1st/2nd sem offerings so place less weight on words of ppl whos done it last sem. gl bb

25 Oct 2009, 9:21 PM	#5 (permalink)
atreus Senior Member HSC: 2006 Gender: Male Join Date: Oct 2006 Posts: 236 Last Activity: 26 Oct 2009, 10:42 AM	Re: How to do well in ECON141 As BoganBoy has said, semester 1 is different to semester 2. Apparently, sem 1 tends to have an economics focus, whereas sem 2 has more of a statistics focus. But my exam (sem 1), from memory, included: 1) 40 multiple choice - i think you get a couple of sets of data and you have about 12 questions for each set of data, and then there are a few random multiple choice. So for multiple choice, it's mainly calculations - confidence intervals, betas, etc. 2) then there was a long answer section worth 60 marks (either 10 Q x 6 marks or 6 Q x 10 marks). Basically, you get a data set, some graphs, some explanations of the study, etc. and you have to comment on things like heteroscedasticity, multicollinearity, autocorrelation and the other issues. so for this section, for each of these issues/concepts, know: i) definitions, ii) how to detect each of them from graphs or variables given iii) the consequences of the problems iv) and maybe ways you could rectify/correct the problem if possible. Also, out of interest, how did you end up finding where you came in STAT170? Did you get a letter? Last edited by atreus; 26 Oct 2009 at 10:42 AM.

27 Oct 2009, 9:30 PM	#6 (permalink)
reddevil89 Junior Member HSC: 2008 Gender: Male Join Date: Jan 2009 Posts: 33 Last Activity: 10 Nov 2009, 9:57 PM	Re: How to do well in ECON141 Thanks to BoganBoy and atreus, I'll try to do my best, it's just really so boring that I don't even want to touch it.... Anyway, where can I find the past exams papers for ECON141? To atreus: yeah, a letter to my home address.

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