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Quantitative Methods 1 (ECON10005)
Undergraduate level 1Points: 12.5On Campus (Parkville)
From Semester 1, 2023 our undergraduate programs will be delivered on campus. Graduate programs will mainly be delivered on campus, with dual-delivery and online options available to a select number of subjects within some programs.
To learn more, visit 2023 Course and subject delivery.
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
Kalvinder Shields: k.shields@unimelb.edu.au
Mehmet Ozmen: mehmet.ozmen@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
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
-
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.
-
Moderate level of development: oral communication; written communication; critical thinking; receptiveness to alternative ideas.
-
Some level of development: collaborative learning; team work.
Last updated: 20 May 2023
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 (On Campus - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| MAST20005 | Statistics |
Semester 2 (On Campus - Parkville)
Summer Term (Dual-Delivery - Parkville)
|
12.5 |
| MAST10010 | Data Analysis 1 | Semester 2 (On Campus - Parkville) |
12.5 |
| MAST10011 | Experimental Design and Data Analysis | Semester 1 (On Campus - 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: 20 May 2023
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 and tutorial attendance | Throughout the semester | 10% |
End-of-semester examination
| End of semester | 60% |
Last updated: 20 May 2023
Dates & times
- Semester 1
Principal coordinator Yong Song Mode of delivery On Campus (Parkville) Contact hours Total time commitment 170 hours Teaching period 27 February 2023 to 28 May 2023 Last self-enrol date 10 March 2023 Census date 31 March 2023 Last date to withdraw without fail 5 May 2023 Assessment period ends 23 June 2023 Semester 1 contact information
Yong Song: yong.song@unimelb.edu.au
- Semester 2
Principal coordinators K Shields and Mehmet Ozmen Mode of delivery On Campus (Parkville) Contact hours Total time commitment 170 hours Teaching period 24 July 2023 to 22 October 2023 Last self-enrol date 4 August 2023 Census date 31 August 2023 Last date to withdraw without fail 22 September 2023 Assessment period ends 17 November 2023 Semester 2 contact information
Kalvinder Shields: k.shields@unimelb.edu.au
Mehmet Ozmen: mehmet.ozmen@unimelb.edu.au
Time commitment details
170 hours per semester
What do these dates mean
Visit this webpage to find out about these key dates, including how they impact on:
- Your tuition fees, academic transcript and statements.
- And for Commonwealth Supported students, your:
- Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
- Completion rate. Students who started their course from 2022 and are in a CSP or receiving a HELP Loan (eg FEE-HELP) must meet the completion rate to continue to receive Commonwealth Support for that course.
Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement, and as a fail toward the completion rate, unless there are approved ‘special circumstances’.
Last updated: 20 May 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 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: 20 May 2023