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Quantitative Methods 1 (ECON10005)
Undergraduate level 1Points: 12.5Dual-Delivery (Parkville)
From 2023 most subjects will be taught on campus only with flexible options limited to a select number of postgraduate programs and individual subjects.
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About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Semester 1
Yong Song: yong.song@unimelb.edu.au
Semester 2
Overview
Availability | Semester 1 - Dual-Delivery Semester 2 - Dual-Delivery |
---|---|
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
On completion of this subject, students should be able to:
- 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: 27 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
Admission into the B-COM Bachelor of Commerce
OR
Code | Name | Teaching period | Credit Points |
---|---|---|---|
MAST10012 | Introduction to Mathematics | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
Code | Name | Teaching period | Credit Points |
---|---|---|---|
MAST20005 | Statistics |
Summer Term (Dual-Delivery - Parkville)
Semester 2 (Dual-Delivery - Parkville)
|
12.5 |
MAST10010 | Data Analysis 1 | Semester 2 (Dual-Delivery - Parkville) |
12.5 |
MAST10011 | Experimental Design and Data Analysis | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
Students intending to major in Actuarial Studies should not enrol in this subject.
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: 27 April 2024
Assessment
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 11 | 10% |
Weekly online quiz | Throughout the semester | 10% |
End-of-semester examination
| End of semester | 60% |
Additional details
Important mid-semester test information: This mid-semester test is the equivalent of a 45-minute assessment; however, students are provided with 90-minutes to accommodate the time that will be required for typesetting of mathematical expressions and the uploading of documents.
Important online examination information: This examination is the equivalent of a 2-hour assessment; however, students are provided with 3 hours to accommodate the time that will be required for typesetting of mathematical expressions and the uploading of documents.
Last updated: 27 April 2024
Dates & times
- Semester 1
Principal coordinator Yong Song Mode of delivery Dual-Delivery (Parkville) Contact hours Total time commitment 170 hours Teaching period 28 February 2022 to 29 May 2022 Last self-enrol date 11 March 2022 Census date 31 March 2022 Last date to withdraw without fail 6 May 2022 Assessment period ends 24 June 2022 Semester 1 contact information
Yong Song: yong.song@unimelb.edu.au
- Semester 2
Principal coordinators Mehmet Ozmen and K Shields Mode of delivery Dual-Delivery (Parkville) Contact hours Total time commitment 170 hours Teaching period 25 July 2022 to 23 October 2022 Last self-enrol date 5 August 2022 Census date 31 August 2022 Last date to withdraw without fail 23 September 2022 Assessment period ends 18 November 2022 Semester 2 contact information
Mehmet Ozmen: mehmet.ozmen@unimelb.edu.au and Kalvinder Shields: k.shields@unimelb.edu.au
Time commitment details
170 hours per semester
Last updated: 27 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 (Production)
- 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: 27 April 2024