26 Jul 2014

AY2014-2015 Semester 1 Modules (Updated)

After careful consideration, I have changed my module selection slightly and will be taking the following modules next semester instead:

EC3304 Econometrics II
EC3332 Money and Banking I
EC4102 Macroeconomic Analysis III
MA2311 Techniques in Advanced Calculus
ST1131 Introduction to Statistics
ST2137 Computer Aided Data Analysis

And yes, so I decided to overload this semester instead of the next. But indeed, I find myself quite foolish not to have included EC3332 when I did the MPE (though the points in my P-acct should be more than enough for the remaining 4 modules that I need to bid). And this is the first semester that I actually hesitated so much about which modules to take. Usually, I just MPE what I need and I don't remember any one time that I didn't get any of the modules that I MPE-ed. So this is probably an exception though I foresee more of such coming since it seems that most level-4000 electives aren't very easy to get.

Anyway, there are a few reasons why I chose to take these modules:

(1) Well, apparently ST1131 should be taken in the first semester under Prof Gan Fah Fatt. And in terms of the bell curve, a cohort size made up from two lecture slots as compared to one in Semester 2 is going to make a bit of a difference I guess. Nevertheless, I wish to clear my core modules asap and thus I'm taking EC3304, MA2311, ST1131 and ST2137 all at one go.

(2) Then why didn't I stick to EC4341 and overload? I think given my results and standard, it's a little too adventurous for me to overload to 26 MCs. But more importantly, EC4341 is pretty heavy in terms of both content and workload. Initially, I was pretty bent on taking EC4341 this semester despite it being the module causing all my timetable problems due to some reasons which I'm not too keen on explaining. So EC4102 was the module I would rather give up to overload. However, after careful consideration, I personally think that EC4341 will be more demanding than EC4102 and the fact that I didn't get allocated EC4341 just reaffirmed this decision. 

(3) I wish to take EC4332 Money and Banking II under Prof Martin Bodenstein in Semester 2 so it's a good idea to clear EC3332 this semester.

(4) I've planned my timetable such that I'll be taking only 4 core modules in Semesters 6 and 7 with the fifth module either as SS/GEM (yes, I haven't cleared these modules). So it shouldn't be as bad with 2/3 level-4000 EC modules plus 2/3 ST electives.

Although I'm not confident I'll definitely do fairly well with the above selection, I think this is probably the most optimized arrangement to spread out my workload for the remaining four semesters even though there'll be two exams each day in a span of three days which means I'll finish 4 exams in three days with only one Sunday in between as a break (I experienced worse before: 4 exams in two consecutive days) but well, preparation for finals should really be ready by then.

16 Jul 2014

Guide to Level-3000 EC Electives Part 2

Since I have quite some time on hand now and also being encouraged by the number of views on this blog, I shall continue from my previous post. In this post, maybe let me select the few modules that I have taken and briefly discuss why I recommend them.

1. EC3312 Game Theory and its Applications to Economics

I know that in my module review I had said that this module is pretty much over-theoretical. However, EC3312 is a prerequisite for EC4324 Economics of Competition Policy and I think EC4324 is a good module for anyone who's interested in the study of firms. Apparently, it teaches students how to model firm behaviour which is something that is really quite useful. But whether it really does I'm not too sure.

2. EC3314 Mathematical Economics

To me, this is one must-take elective for any Economics undergraduate who wishes to further his or her studies in Economics. However, if you're a double major or a double degree person doing your first or second major in a quantitative field, chances are you'll be pretty much exposed to what EC3314 deals with. Personally, I have not had any experience with real analysis or dynamic optimization so this module was quite an eye-opener in the sense that I get to know better what's involved in the higher-level modules (I mean 5000 or 6000). Since it's the case that anyone who has gotten a Bachelor's in a quantitative field be it Maths/Engin/Stats can simply cross over to do a Master's in Econs, it's probably good for an Econs single major to boost him/herself in terms of such technical knowledge. If you refer to my module review for EC3314, you'll find the title of the textbook used and I think the textbook is a fairly good one for anyone who's interested in how Maths is used in Econs. After all, it's undeniable how important a role Maths and Stats both play in Econs. 

3. EC3333 Financial Economics I

Like I said, EC4333 is an essential module for those interested in finance and EC3333 does build a bit of foundation and serve as an introductory module for EC4333. I mean stuff like Brownian Motion and Black-Scholes Theory should be fairly intuitive to anyone specializing in the field of finance. 

4. EC3342 International Trade and EC3343 International Finance

I shall do both modules together since I took EC3341 International Economics I. Anyway, no doubt that this is a very pertinent topic all around the world. EC3342 mainly introduces you to the theories of trade that may be able to explain certain phenomenons around the world. When I did EC3341, Dr Lu Yi assigned students a project which was to do a summary on two papers and there are certain points which you could pick out that theories learnt in International Trade could really be used to explain why it was like that. EC3343 continues on from EC3342 by touching on exchange rates and so on. Nevertheless, I personally find EC3343 the more interesting one. It's taken by Prof Jungjae this semester and I actually tried to appeal to waive off the preclusion of EC3341 (but to no avail) as there were many things covered in EC3343 that are not even brought up in EC3341. One of the very interesting things to me is the big topic "Puzzles in International Finance". It touches on things like why certain theories like PPP could not explain what's happening in the world right now. I think this is something you'll find that EC modules rarely teach.

15 Jul 2014

Guide to Level-3000 EC Electives Part 1

Having come to the end of Year 2 and now that I've already completed most of my Level-3000 EC electives, I'm gonna recommend some what I think are the electives worth taking. I'll not disclose the details as to why I think so (you can leave a comment if you want to ask more). Note that if I state certain modules that I had previously declared disinterest in then it must be the case that the succeeding module (i.e. Level-4000 module that requires the Level-3000 module as the prerequisite) might be useful.*

How this works is I'm gonna give a rating (out of 10) for every module that I recommend. Do note that the rating is relative under the list only. It does not mean that certain modules I'm going to rate as low are bad in absolute terms.

1. EC3312 Game Theory and its Applications to Economics (5/10)
2. EC3314 Mathematical Economics (8.5/10)
3. EC3333 Financial Economics I (7/10)
4. EC3342 International Trade (7.5/10)
5. EC3343 International Finance (8/10)
6. EC3361 Labour Economics I (5.5/10)
7. EC3394 Economics and Psychology (6.5/10)

*I have to say this: I think EC4333 Financial Economics II is pretty essential for anyone who's interested or intending to specialize in the field of finance so that is why I gave a relatively high rating to EC3333. 

Well, the readers of the blog can just take this as a reference. It isn't necessarily true for everyone but personally, these modules are the better ones out there. I'll add on Level-4000 electives to this post by the end of my third year. But I hope this can provide a guide to the younger peers who might be at a loss as to which modules they should take.



13 Jul 2014

AY2014-2015 Semester 1 Modules

As usual, I am posting the list of modules that I'll be taking this semester.

EC3304 Econometrics II
EC4102 Macroeconomic Analysis III
EC4341 International Economics II
MA2311 Techniques in Advanced Calculus
ST2137 Computer Aided Data Analysis

I don't think there's much to talk about for my Stats modules since they are core modules which I am taking only now in Semester 5. And there's actually still one more, ST1131 Introduction to Statistics. Ironic? Yes, because I took MA1100 in my very first semester and cross-faculty double majors actually do not have to take UEMs or breadth modules. In other words, MA1100 is an extra module that does not fulfill any university graduation requirements. 

But anyway, I have a choice between MA2108 Mathematical Analysis I and MA2311. Those who have taken MA1505 or MA1104 are precluded from MA2311 but I think MA2311 should be a simpler version of multivariate calculus. I myself am not too sure what the scope of this module will be. I chose MA2311 over MA2108 cos' (1) I suck at convergence series, sequences etc., let alone writing proofs on them and (2) I think multivariate calculus is something very important to Economics majors or even to anyone else so it's good to build a strong foundation and to be able to understand from its fundamentals, vector calculus, and not just know how to perform a double or triple integral. 

As for EC3304, I think it's good to clear it asap. From what I hear, it is not as hard to get as EC3303 for MPE. But I am also not too sure how popular it is exactly. EC4102, on the other hand, is probably a lot more challenging in the first semester. However, the bell curve is really steep in the second semester as the questions simply involve memorising of derivations and I heard the papers are relatively easy (do remember, only honours students are left now). So there are pros and cons in both semesters. Although I can't say for sure that I'll be able to do better in this semester or should I say I am not confident of even securing a good grade, the style of this semester's paper better suits me. So for those who are going to take EC4102 anytime soon, I think it's good to take a look at the papers for both semesters as they really differ drastically. 

I have to clear EC4341 this semester as well as I think taking EC4341 with those who are going to take EC3342 International Trade and EC3343 International Finance (these are new modules for this semester) isn't gonna put me on a level playing field. And at the same time, I do not wish to take EC4341 in Semester 2 as Prof Gentile tends to place more focus on qualitative than quantitative aspects. All this while, I've been very keen on learning how Econometrics can be incorporated into Economics and I believe taking under Prof Davin Chor in Semester 1 will be able to expose me to that sort of knowledge. Of course, there are some of you out there who would prefer a more qualitative course in which I would recommend you then to take under Prof Gentile.

To end off, this semester is pretty crucial for me; it can make-or-break my CAP.

Oh and on a lighter note, for those who wish to take honours modules, MPE gives priority to honours students (and currently, I am still on the ARS3 track).

4 Jul 2014

AY2013-2014 Semester 2 Module Review

Well okay, besides having been occupied for the past month, I did very badly this semester so I needed quite a bit of time to get back up to write this post. Nevertheless, I shall try my best to remain objective so as to benefit the readers of this blog.


CS1010E Programming Methodology

This module was taken by Prof Joxan Jaffar. Apparently, he taught fairly well at the start of the semester, only to deteriorate drastically towards the end. The language taught is C. 

Weightage
Sit-in labs: 50%
Midterms: 10%
Finals: 40% 

This module was basically open-book for every single graded component though I should think that wouldn't help much for a computing module. The main topics covered were control flow, arrays, pointers and structures just like for any other introductory computing module. Sit-in labs were held every odd week (starting from Week 5 onwards) and take-home labs were assigned every other week. If you can do the take-home labs, you might probably consider skipping the lab sessions during the even weeks.

The format of the midterms was as follows: it was a multiple-choice paper comprising of 20 questions; each question has a string of code and you're supposed to interpret it and then choose the option that has the correct output. I actually found it pretty meaningless a paper by the way. But the questions were tricky; sometimes it might just take one semi-colon to make a difference in the solution so exercise extra caution and do not overlook any details. I only got 13/20 which is pretty much below the median I guess. But that is just because I totally neglected one or two topics and there were actually close to 6 questions on those topics so I should think it wouldn't be hard to get above 15. You'll know your midterm results very soon since they'll upload the solutions on the same day itself.

Sit-in labs got progressively harder; there were basically 5 sit-in lab sessions where each subsequent lab was worth 1 more percent than the previous one starting with 8% and ending with 12%. I got A for the first two (but really, anyone can get A for the first one) and B for the remaining ones. That essentially put me in the 50th percentile already. 

Finals was just, bad; pointers, structures everywhere. There were two sections in the finals. Section A was like the midterms just that it was no longer MCQ so that you had to write the output in the blank space provided. There were 15 questions on that. Section B was then testing students on their ability to write codes so as to solve the problems presented in the questions. Personally, I thought some of the questions were quite different from those in the sit-in labs but if you're good at computing, it shouldn't make much of a difference. I basically screwed up both sections and I gave up halfway to the extent that I scribbled some nonsense in Section A. That was how badly I wanted to end this and it doesn't really help that it was my first paper. 

Result: B-
Yes, first B- though it was kinda expected. My advice is to try and get As for all the labs or at least, 4 out of 5. That can secure you at least a B+, I hope. I actually didn't do much practice for this module except  for the take-home labs. In fact, I was quite passive in the sense that I believed practice would only take you so far for a computing module. I am just glad to get over this module which was pretty much useless as C is just obsolete already. If given a choice, I would have loved to take IT1006 but no, CS1010E is a core module for Stats majors.


EC3312 Game Theory and Applications to Economics

This module was taught by Prof Sun Yeneng who was seemingly from the Maths department in FOS. His lectures were so-so as most of the things in the notes were taken from the textbook. I gave up attending them after the first one. Textbook is essential: A Primer in Game Theory by Gibbons.

So there were 4 themes altogether: (1) Static Games of Complete Information, (2) Dynamic Games of Complete Information, (3) Static Games of Incomplete Information and (4) Dynamic Games of Incomplete Information.

Weightage
Tutorial attendance and participation: 5%
Assignments: 10%
Midterms: 35%
Finals: 50%

Basically, attend all tutorials and present once to secure the 5% component, There were 2 assignments, each worth 5%. Assignments were very easy so most people should have no problem securing full marks for them.

The bell curve for midterms was steep; the median was 27/35 and it doesn't help that there are a few PhD students taking this module. So I got only 29 but really, the midterms was actually very easy. The reason why I didn't get above 29 was because there was this particular concept that I didn't clear up before taking the midterms as I started studying only one or two days before the test itself. But the concept itself isn't hard so actually, it shouldn't be a feat to get above 30. Midterms are returned during the next tutorial.

I screwed up the finals especially those questions on Bayesian Nash Equilibrium. Although I could have presented my answers in a more detailed fashion, I don't think it would have helped much as I was pretty weak in that concept itself. The thing about game theory is to really appreciate the big idea. When I was studying for this module, there were many times I had to question myself why this or that has to be done. I just couldn't see the importance in certain things. I mean in reality, most firms aren't going to say, "Ok, so let's formulate our strategies and then work out the Nash equilibrium." It just defeats the purpose of game theory. I took this module actually to train my logic and learn to understand from the perspective of a firm. Unfortunately, I thought there was way too much focus on theoretical concepts so that I didn't actually reap much from this module.

Result: B+
B+ was not shocking given that there were probably only a little over 50 people taking this module and that this module didn't really come as intuitive to me. My advice is that divert more attention to the topics covered after midterms as those will be the main focus of the finals. Well honestly (and I'm not saying this cos' I didn't do well), this module is close to useless unless you want to go on to higher-level modules or do your thesis on something related to game theory. I mean the emphasis on the theories of Nash Equilibrium was just way too much such that I don't see the realism in this module.


EC3333 Financial Economics I

This module was taught by Prof Lu Jingfeng whose English may be a bit hard to comprehend (I seldom comment on such things but if I have to say it, that just means something). But then again, if you don't go for lectures... 

And so this was one module I really disliked and for the first time, I actually regretted taking a module. I thought nothing could get worse than micro in terms of the level of interest but this was just many times worse than micro. Aside from the fact that everything was being thrown at you without any avenues to enhance your understanding (I tried to look for a book that derives all the theories and formulas but to no avail, neither was asking the Prof a solution as well), this module was way too technical for my liking. So it's just formulas and graphs and formulas again.

Topics covered are Optimal Risky Portfolios, CAPM, APT, Bonds and Options. I personally think the textbook was bad (no derivations) but still necessary for this module since the notes are mainly slides created out of the content in the textbook: Investments and Portfolio Management by Bodie, Kane and Marcus, 9th Edition. Note: Investments by Bodie, Kane and Marcus, 9th Edition is almost identical and can be used as a substitute.

Weightage
Tutorial Attendance and Participation: 15%
Assignments: 15%
Midterms: 30%
Finals: 40%

The first component is supposedly easy to get, just attend all tutorials and participate three or four times in class. Similarly, the second component is supposedly easy to get as well but unfortunately, I did not get full marks for the last two assignments. Basically, how it works is that each student gets allocated 3 assignments at random so some may get the ones in the earlier weeks and some may get a mixture of those in the earlier and later weeks. Well, the impression it gives is that it might be somewhat unfair since those who got allocated the tutorials covered in the earlier weeks (especially before the midterms) have it easier. But really, I think the assignments are all easy and given enough understanding, one should be able to score full marks for all of them.

The midterms was disastrous for me. I got a mere 21/30 when the average was probably around 25.5 to 26. Reason: This exact same question from the practice midterms came out and I screwed it up. Yes I did not practise the midterms but aside from that, I think even if I did not, I should have been more careful and have a deeper understanding of the concepts involved. Then there was another question in which I got the correct answer at first but having been too paranoid, I decided to act smart and write something else so I got that wrong too. In fact, there was only one 'differentiator' question which oh, I happened to answer it wrongly as well. That, I can only blame myself for not understanding the earlier chapters thoroughly. In fact, I think the midterms is really doable and it wouldn't have been hard to get at least 26 or something along that line. Anyway, midterm scores will be uploaded onto IVLE once grading has been done.

Finals. Finals was apparently easy since I got a B and I thought I did pretty well. So it's either I underestimated the cohort (doesn't help that there are a few DDP students taking this module) or I overestimated myself. I think it's a mixture of both. Proofs can be easily found in the textbook and yes, contrary to what I thought, many people actually read them. Other than that, it's all just simple calculations and manipulation for one question.

Result: B


ST2132 Mathematical Statistics

Well, the first thing I must say is that as intimidating as Prof Lim Chinghway looks, he's one heck of a good lecturer. He's patient, willing to help, explains concepts really clearly and would even repeat if the class did not catch it. Possibly almost everything you would want to see in your lecturer.

The fact is that this module is very easy compared to ST2131. Like I said, Prof Lim toned it down a lot so that it transformed from a killer module to a CAP-puller for most people I guess.

The big topics covered included Simple Random Sampling, Parameter Estimation (MOM and MLE), Fisher Information, Efficiency, Sufficiency, Hypothesis Testing, Generalized Likelihood Ratio Test and the Comparison of Two Samples. Textbook isn't necessary at all since the notes are sufficient and tutorial questions are from there as well but you could still get it if you want: Mathematical Statistics and Data Analysis by John Rice, 3rd Edition.

Weightage
Tutorial Attendance: 5%
Tutorial Participation: 5%
Assignments: 20%
Midterms: 20% (graded on completeness and also, correctness from Week 2 or 3 onwards cos' they found a grader)
Finals: 50%
Bonus: 5% (for participation either in class or on IVLE Forum)

The first 3 components are free marks so there's no need to talk about them (because you are actually allowed to make changes to your tutorial answers when your tutorial mates are presenting their answers).

I screwed up midterms as usual, got only 24/40. Average was 22 or something. The questions were easy but one of them was pretty unprecedented. But on overall, I must say the Semester 2 paper was harder than Semester 1 paper (and much less people take ST2132 in Semester 2). Even so, it was still doable. Highest was 38/40 by the way. So the S.D. is pretty high. The midterm score was uploaded onto gradebook before the scripts were returned to students during tutorial.

Finals was easy as well. Know your concepts well and trust me on this, copy down all the probability mass or density functions onto your cheatsheet. You'll need it during the exam. With that, you can easily get a decent grade provided you know what you are doing.

Result: A-
Probably got saved by the finals.


ST3131 Regression Analysis

Personally, this is one of the hardest Stats modules I have taken. The level of understanding involved in this module on top of the derivations is not trivial. Oh plus the bell curve is very steep with lots of Maths majors screwing it up. From what I heard, this module used to be on the same level as ST1131. However, since Prof Anthony Kuk took over, it became quite difficult a module.

Coupled with procrastination, I was always lagging behind lectures (I don't go for lectures partly cos it's 8am and partly cos going for lectures isn't gonna make much of a difference). I never attended tutorials as well since the tutor is atrocious as everyone has made him out to be.

Topics covered ranged from 1-factor ANOVA, 2-factor ANOVA to simple, multiple, subset regression, residuals, outliers and the combination of ANOVA with regression. There was no compulsory textbook for this module. All were just references but the main one was Introduction to Regression Analysis by Montgomery, Peck and Vining, 5th Edition.

Weightage
Assignments: 20% (2 assignments worth 10% each)
Midterms: 20%
Finals: 60%

Most people got full marks for assignments which mainly made use of R (I did not though). R isn't tested in finals by the way. Midterms was just plugging in formula. Well, the thing about midterms was that you didn't have to understand what you are doing, you just have to know what to use. Average was around 30/40. The midterm score was uploaded onto gradebook before the scripts were returned to students during lecture.

Finals was the hard one for me or probably for many people. So nothing in the notes appeared and they were all out-of-context questions. This just boils down to how well you understand the concepts and yes, because I didn't, I screwed the finals up badly. But the finals was really typical of an open-book exam where you had to think on the spot and manipulate some stuff. Time wasn't a constraint though.

Result: B
No doubt finals is the determining factor since I got full marks for midterms but at the same time, no doubt that this module is important. My advice is be consistent, clarify doubts immediately, don't ever snowball anything.