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Quantitative Methods 1 (ECON10005)
Undergraduate level 1Points: 12.5On Campus (Parkville)
For information about the University’s phased return to campus and in-person activity in Winter and Semester 2, please refer to the on-campus subjects page.
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Semester 1
David Harris: harris.d@unimelb.edu.au
Semester 2
David Harris: harris.d@unimelb.edu.au
Please refer to the LMS for up-to-date subject information, including assessment and participation requirements, for subjects being offered in 2020.
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
-
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 1 (On Campus - Parkville)
Semester 2 (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 1 (On Campus - Parkville)
Semester 2 (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
Due to the impact of COVID-19, assessment may differ from that published in the Handbook. Students are reminded to check the subject assessment requirements published in the subject outline on the LMS
Description | Timing | Percentage |
---|---|---|
Mid-semester test 1
| Week 5 | 10% |
Mid-semester test 2
| Week 9 | 10% |
Quantitative Data Analysis Report - not to exceed 8 pages including graphs, charts and equations, draft due in Week 6
| Week 10 | 10% |
Pre-tutorial quizzes and tutorial attendance | Throughout the semester | 10% |
Final exam
| End of semester | 60% |
Last updated: 11 April 2024
Dates & times
- Semester 1
Principal coordinator David Harris Mode of delivery On Campus (Parkville) Contact hours Total time commitment 170 hours Teaching period 2 March 2020 to 7 June 2020 Last self-enrol date 13 March 2020 Census date 30 April 2020 Last date to withdraw without fail 5 June 2020 Assessment period ends 3 July 2020 Semester 1 contact information
David Harris: harris.d@unimelb.edu.au
- Semester 2
Principal coordinator David Harris Mode of delivery On Campus (Parkville) Contact hours Total time commitment 170 hours Teaching period 3 August 2020 to 1 November 2020 Last self-enrol date 14 August 2020 Census date 21 September 2020 Last date to withdraw without fail 16 October 2020 Assessment period ends 27 November 2020 Semester 2 contact information
David Harris: harris.d@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:
- Bachelor of Arts
- Bachelor of Design
- Bachelor of Environments
- Bachelor of Fine Arts (Acting)
- Bachelor of Fine Arts (Animation)
- Bachelor of Fine Arts (Dance)
- Bachelor of Fine Arts (Film and Television)
- Bachelor of Fine Arts (Music Theatre)
- Bachelor of Fine Arts (Screenwriting)
- Bachelor of Fine Arts (Theatre)
- Bachelor of Fine Arts (Visual Art)
- Bachelor of Music
- 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.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 11 April 2024