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Quantitative Methods 2 (ECON20003)
Undergraduate level 2Points: 12.5Dual-Delivery (Parkville) and Online
From 2023 most subjects will be taught on campus only with flexible options limited to a select number of postgraduate programs and individual subjects.
To learn more, visit COVID-19 course and subject delivery.
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Summer Term
David Moreton: dmoreton@unimelb.edu.au
Semester 1
Laszlo Konya: l.konya@unimelb.edu.au
Semester 2
Laszlo Konya: l.konya@unimelb.edu.au
Overview
| Availability | Summer Term - Online Semester 1 - Dual-Delivery Semester 2 - Dual-Delivery |
|---|---|
| Fees | Look up fees |
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; autoregressive distributed lag models and testing for stationarity.
Intended learning outcomes
On completion of the subject, students should be able to:
- 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.
- Analyse autoregressive distributed lag models and testing for stationarity.
- 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
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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: 7 September 2023
Eligibility and requirements
Prerequisites
One of
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| ECON10005 | Quantitative Methods 1 |
Semester 2 (Dual-Delivery - Parkville)
Semester 1 (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 |
| MAST20004 | Probability |
Semester 1 (Dual-Delivery - Parkville)
Semester 2 (Dual-Delivery - Parkville)
|
12.5 |
| MAST20006 | Probability for Statistics | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
None
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: 7 September 2023
Assessment
| Description | Timing | Percentage |
|---|---|---|
Assignment (involving quantitative data analysis and review, including graphs, charts and equations)
| Week 5 | 5% |
Assignment (involving quantitative data analysis and review, including graphs, charts and equations)
| Week 9 | 5% |
Assignment (involving quantitative data analysis and review, including graphs, charts and equations)
| Week 12 | 5% |
Mid-semester test (online, covering material prior to week 6)
| Week 6 | 5% |
Tutorial participation (including completion of weekly tutorial exercises involving quantitative data analysis and review) | Throughout the teaching period | 10% |
End-of-semester examination
| During the examination period | 70% |
Additional details
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.
Last updated: 7 September 2023
Dates & times
- Summer Term - Online
Principal coordinator David Moreton Mode of delivery Online Contact hours Two 2-hour lectures and two 1-hour tutorials per week for six weeks Total time commitment 170 hours Teaching period 4 January 2022 to 18 February 2022 Last self-enrol date 13 January 2022 Census date 21 January 2022 Last date to withdraw without fail 4 February 2022 Assessment period ends 26 February 2022 Summer Term contact information
David Moreton: dmoreton@unimelb.edu.au
- Semester 1 - Dual-Delivery
Principal coordinator Laszlo Konya Mode of delivery Dual-Delivery (Parkville) Contact hours Two 1-hour lectures, one 1-hour tutorial and one 1-hour workshop 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
Laszlo Konya: l.konya@unimelb.edu.au
- Semester 2 - Dual-Delivery
Principal coordinator Laszlo Konya Mode of delivery Dual-Delivery (Parkville) Contact hours Two 1-hour lectures, one 1-hour tutorial and one 1-hour workshop 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
Laszlo Konya: l.konya@unimelb.edu.au
Time commitment details
170 Hours
Last updated: 7 September 2023
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 Track Economics and Finance - 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: 7 September 2023