*urgent* how do you study econ241!!!! (1 Viewer)

[kingofgames]

DUDE!!!!..... This clown has me incredibly frustrated. I do not know how people are AVERAGING 80S, i'm running out of ideas how do you study this thing effectively. I only just got above a pass on the assignment i don't know how people averages Distinctions on it. How do you study this thing. Is there something i'm doing wrong? I'm not really getting adequate practice.

I got to the lectures then study the lecture and the slide later on. And then match this with the exercises. I don't read the book much as it does not seem human it seems like a waste of time.

I like him but he designed the course for me to fail (i'm actually still around credit). But it's so annoying the extra exercises given out is really not enough and at times quite unrelated to the quizzes and also does give me a good grounding of the concepts. I'm still building my understanding of the concepting by the time we get to the tute and we already have to do an assessment on it. The quiz becomes a hindrance during our tutes as the tutor has to focus on the questions rather than giving us a good idea of the content and actually teaching us to do the questions properly and answer questions. Instead i just kinda leave confused and frustrated with the thought that given better circumstances i could had gotten 80-100% in that quiz rather than the 63-90 and one 100 that i've been getting. If i could just get solid practice and understanding of this stuff i think it would be much easier.

 

[kkmok]

Even though it is under econ, this units is purely statistic. (Except you need to know what elasticity is but you just need to remember the formula, that's it.)

This unit is hard for most people because they don't have enough knowledge in statistics, I mean if you know some detail in regression it is already an auto HD. So the best way you can do is read some sort of regression statistic book (only the simple/multiple normal regression part and probably the log transform.) If you want a higher marks you need to sort out the basic things in statistics, perhaps you should go consultation or ask your friends who is really good in statistic to answer your question.

I did this course for my elective because my friends did it before and said it was ridiculously easy, both of us got HD. All of my quiz was 100%.
(I was doing STAT375 and STAT306 at the same time and STAT375 wk1-4 covered wk1-13 of ECON204 lolol) <- they are both regression units

 

[kingofgames]

Of course but just working with the lecture, note and textbook this guys is dishing out is just horrible. How did you go about studying this stuff?

 

[kkmok]

To master in econ241 you need to know how to do hypothesis testing, and know when is it appropriate to use which distribution and what critical value.

Like 1sided test and 2 sided test your critical value will be different, and how to interpret the coefficient of beta, some of them are additive/ multiplicative.

Just write down a list like when sigma is known use Normal, when sigma is unknown use the t test ... blabla
and is the question asking for 1 sided or 2 sided? (the critical value will be different)
and when you set multiple beta = 0 you use the F test... etc


When you pretty familiar with these stuff they all look the same later on lol.

Just find someone good at statistics to explain everything clear to you probably the best, studying yourself with insufficient statistic knowledge is hard with econ241, once you cleared the fundamental concept in econ241 it will be REALLY EASY.

 

[kingofgames]

I actually liked inference testing. We haven't gotten to that stuff yet. This is is the kind of stuff he's been asking. , i thought i'd master this shit then he'd asks questions like these which is almost completely different to the questions he has been giving out or ihis examples. I don't know how i could had found out about questions like these.

At least in ACST101 the guy gave you tute questions to work with and weekly exercise questions.

Holy crap i just realized good old Carolyn Kennett from the numeracy center should be all over this. I remembered when you pointed out that this is literallly just stats.

 

[RishBonjour99]

Just reading from the posts above - I covered all those topics in my stats unit at usyd and barely went lectures - my greatest resource was Google (I ranked top 3rd/800+ students so I'm not bsing). I highly suggest you search concepts up and see how people explain e.g. videos or lecture slides from NYU Stern are freely available.

Youtube videos are especially good for people who are struggling because you can start at ANY level i..e from 0 assumed understanding.

 

[kingofgames]

I would had done that had i known this guy's lecture notes and tutorial questions were bull shit

 

[kingofgames]

Update: Unit got significantly easier once we got into regression i only passed the first homework but got 90-100 on the next three. I began getting 90s in the quizzes. A lot of the questions he asks i found can be easily explained by the text, once you realise which part he has part has not been tought (or not clearly enough) and know what to look for. Also stat stack exchange helps a lot and youtube videos.

It would be better if the quizzes they have now was a practical and there's a tute where they explain and discuss the topic learned with example questions. I'm still adamant that the quizzes and homework troll you by asking things not directly reflected by the lecture. While they have made it hard for me to maximise my mark i still don't think these exercises are adequate enough to challenge people so that it fosters deep discussion and critical thinking. I think everyone got smashed by the assignment, while i don't think he's a bad a lecturer, i think this is a testament of the poor approach the unit has towards learning technical content which require deep(er) understanding. I bet you 8 of 10 students don't wouldn't be able to tell you about Gauss-Markov theorem and Least Squares assumptions partly because of the nature in which we studied it (timed & marked quizzes) and the notes lecture didn't explain it enough. Most people did not know to put an auxiliary regression on their Koenker/LM test because he was too vague about it, a handwritten example would had easily told people that they have to include one.

 

[crazy_paki123]

I thought he was quite poor too and the assignment was marked extremely harsh. But i thought the quizzes (hw and tutorial) were fair enough. All the questions were covered in the lecture and we got 2 attempts.