Quantitative Methods 2 (ECON20003)

Undergraduate level 2Points: 12.5On Campus (Parkville)

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Overview

Year of offer 2017 Undergraduate Level 2 ECON20003 Parkville Summer TermSemester 1Semester 2 Subject EFTSL, Level, Discipline & Census Date

This subject provides students with background mathematical and statistical skills necessary for solving a wide range of commerce problems. It draws heavily on examples from accounting, management and marketing and, to a lesser extent, economics and finance. Topics include: review of statistics; tests of the location of populations; simple and multiple regression for use with time series and cross section data, including interpretation of estimates, hypothesis testing and forecasting, an introduction to diagnostics; Logit models; an introduction to time series methods; and seasonality.

Intended learning outcomes

• Conduct and interpret a number of parametric and non-parametric tests of the location of quantitative populations.
• Complete simple and multiple regression analysis, appropriate tests on regression coefficients, analyse and interpret the results and explain the findings.
• Identify the circumstances under which test procedures may not be valid.
• Analyse several specific models often employed in the various fields within commerce.
• Identify the circumstances under which a model with a binary dependent variable is appropriate.
• Evaluate the results of a Logit model, test relevant hypotheses on the regression coefficients in a Logit model and explain the findings.
• Explain the difficulties that can arise when studying time series data.
• Interpret season factors and seasonally adjust data.
• Employ several methods to analyse and forecast time series data.
• Use and understand various publicly available statistics, including the many data series available describing the economy and markets.

Generic skills

• High level of development: collaborative learning; statistical reasoning; application of theory to practice; interpretation and analysis; synthesis of data and other information; evaluation of data and other information; use of computer software.

• Moderate level of development: oral communication; written communication; problem solving; critical thinking; receptiveness to alternative ideas.

• Some level of development: team work; accessing data and other information from a range of sources.

Last updated: 16 June 2018