Last Minute Help - ECON141 (1 Viewer)

[redruM]

i dunno what to ask...anything specific to know/good to know?

 

[ReaveR]

Lecturer changed this year eh? Roselyn set the best exams...based on your assignment
Know how to do regressions, dummy var, know all three problems (het, auto, multicollinearity), know GM Theorem..I think thats about it. Pretty much you just keep doing regressions though. The three problems with regressions should be quite big also.

Now if only someone could help me with 232...

 

[redruM]

thanks dude.

 

[Supra]

wow regression and collinearity in economics wtf?! I thought that was limited to stat...looks like we'll never escape the extent of its bullshit

 

[redruM]

it is much easier than 171. a different interpretation to 170, imo.

i so cant be fucked to study for this...but it is my easiest chance at a d since the final is 100%.

it will be over in a 15 hrs!!

 

[~ForAGoodCause~]

whats GM theorem?

damn ive done no study for this, hope the paper is similar to the past paper... doubt it though

 

[ReaveR]

Gauss Markov Theorem. If you got any multiple choice they'd ask you something silly you won't remember about it, and you need to know bits of it for autocorrelation anyway.

Edit: Paper won't be similar I'd say, you guys have changed lecturers, and the past papers were all based on the assignments that year. They've changed the course so much in making the assignments only optional etc.

 

[Supra]

woah 100% final...it sounds like a good unit, it isnt in the actuarial/appfin or ne otehr actaurial program (i guess coz we do stat171,271,272 and tahts enough)
Anyway, good luck to everyone!

 

[The_Adonis]

haha great, it was nothing like past papers.......
thanks for the memories econ..

 

[redruM]

lol.

i fucked it.

 

[The_Adonis]

yeah mate I reckon
It was not easy...
but I had no idea anyway and was hoping for same format coz those old exams were quite easier than whatever we were given yesterday
when I saw the Long answer questions I was like sweet lord...

 

[redruM]

yeah mate I reckon
It was not easy...
but I had no idea anyway and was hoping for same format coz those old exams were quite easier than whatever we were given yesterday
when I saw the Long answer questions I was like sweet lord...

yeh i was too hoping for a similar format, but no

the consequences of autocorrelation, multicollinearity, specificsation error, incorrect functional form, etc. is that the inferences made will be invalid, but the ols estimates will remain unbiased? like for all of them?

 

[The_Adonis]

not 100% sure, I did allude to that though, through pure BS

I just mentioned how you may not consider this model if compared to another one that doesnt have these factors and what not
That the information was not a true representaton
all that kind of garbage..

But what were the irrelevant and omitted variables?

 

[~ForAGoodCause~]

yeh i had no idea about omitted and irrelevant ... at the last minute i just made something up about the price of wine being omitted