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Quantitative Methods 1 (ECON10005)
Undergraduate level 1Points: 12.5On Campus (Parkville)
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Semester 1
Semester 2
Sem 2: lakminik@unimelb.edu.au
Overview
Availability | Semester 1 Semester 2 |
---|---|
Fees | Look up fees |
This subject covers the core concepts which underpin quantitative decision analysis in the various specialisations within the faculty. It provides a foundation for all second-year quantitative subjects in the commerce degree. The topics covered are drawn from financial mathematics; measures of location and dispersion; probability, random variables and expected values; sampling design; estimation and testing using the normal and t-distribution; and simple regression and correlation. Excel is used to illustrate applications in accounting, economics, finance, management and marketing.
Intended learning outcomes
- Graph economic data using methods that facilitate analysis.
- Explain concepts relevant for summarising and interpreting data.
- Explain how the concepts of random variables and probability distributions are useful for drawing inferences.
- Explain the concepts of population, samples and sampling distributions.
- Estimate unknown population quantities and test hypotheses about them.
- Conduct simple regression analysis to model the relationship between variables and draw inferences about relationships.
- Apply common analytical techniques relevant for financial decision making.
Generic skills
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High level of development: problem solving; 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; accessing data and other information from a range of sources.
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Moderate level of development: oral communication; written communication; critical thinking; receptiveness to alternative ideas.
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Some level of development: collaborative learning; team work.
Last updated: 11 April 2024
Eligibility and requirements
Prerequisites
A study score of at least 25 in English (any) or equivalent and Mathematical Methods in VCE Units 3 & 4 or equivalent.
OR
Entry into the Bachelor of Commerce.
OR
Successful completion of
Code | Name | Teaching period | Credit Points |
---|---|---|---|
MAST10012 | Introduction to Mathematics |
Semester 1 (On Campus - Parkville)
Summer Term (Online)
|
12.5 |
Corequisites
None
Non-allowed subjects
Students completing
Code | Name | Teaching period | Credit Points |
---|---|---|---|
ECON10005 | Quantitative Methods 1 |
Semester 2 (On Campus - Parkville)
Semester 1 (On Campus - Parkville)
|
12.5 |
Code | Name | Teaching period | Credit Points |
---|---|---|---|
MAST10010 | Data Analysis 1 | Semester 2 (On Campus - Parkville) |
12.5 |
Code | Name | Teaching period | Credit Points |
---|---|---|---|
MAST10011 | Experimental Design and Data Analysis |
Semester 2 (On Campus - Parkville)
Semester 1 (On Campus - Parkville)
|
12.5 |
Students who have completed MAST20005 Statistics will not be permitted to enrol in this subject.
Students intending to major in Actuarial Studies should not enrol in this subject.
Recommended background knowledge
Please refer to Prerequisites and Corequisites.
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 11 April 2024
Assessment
Description | Timing | Percentage |
---|---|---|
A 2-hour end-of-semester examination, end-of-semester
| End of semester | 60% |
Preparation work for and attendance of weekly tutorials | From Week 2 to Week 12 | 10% |
Assignment 2: Quantitative data analysis assignment, not exceeding 8 pages (including graphs, charts and equations), due in week 10.
| Week 10 | 7.5% |
Assignment 1: Quantitative data analysis assignment, not exceeding 8 pages (including graphs, charts and equations), due in week 6
| Week 6 | 7.5% |
A 45-minute mid-semester test in week 9
| Week 9 | 7.5% |
A 45 minute mid-semester test in week 5
| Week 5 | 7.5% |
Last updated: 11 April 2024
Dates & times
- Semester 1
Principal coordinator Wasana Karunarathne Mode of delivery On Campus (Parkville) Contact hours Two 1-hour lectures and a 1-hour tutorial per week Total time commitment 170 hours Teaching period 26 February 2018 to 27 May 2018 Last self-enrol date 9 March 2018 Census date 31 March 2018 Last date to withdraw without fail 4 May 2018 Assessment period ends 22 June 2018 Semester 1 contact information
- Semester 2
Principal coordinator Wasana Karunarathne Mode of delivery On Campus (Parkville) Contact hours Two 1-hour lectures and a 1-hour tutorial per week Total time commitment 170 hours Teaching period 23 July 2018 to 21 October 2018 Last self-enrol date 3 August 2018 Census date 31 August 2018 Last date to withdraw without fail 21 September 2018 Assessment period ends 16 November 2018 Semester 2 contact information
Sem 2: lakminik@unimelb.edu.au
Time commitment details
170 hours per semester
Last updated: 11 April 2024
Further information
- Texts
Prescribed texts
You will be advised of prescribed texts by your lecturer.
- Related Handbook entries
This subject contributes to the following:
Type Name Major Economics Breadth Track Quantitative Methods in Economics - Breadth options
This subject is available as breadth in the following courses:
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Last updated: 11 April 2024