6 points, SCA Band 2, 0.125 EFTSL
Undergraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
Dr Elsa Phung (First semester)
Dr Santha Vaithilingam (Second semester)
- First semester 2017 (Day)
Introduction to principles and techniques for modelling business and economic data.
Modelling in business and finance using computers -- spreadsheet modelling of business problems, organising and accessing data efficiently. Modelling in economics and finance -- multiple regression as a tool for modelling macroeconomic and microeconomic decisions, elasticities and statistical evaluation of policy, time series modelling with application to finance. Introduction to actuarial studies as an approach to building quantitative models of risk.
The learning goals associated with this unit are to:
- apply principles and techniques of data management with computers and spreadsheet modelling to business and economic decision-making problems, including profit models, breakeven analysis, sensitivity analysis, simulation, optimisation under uncertainty and network models
- interpret and evaluate relationships between variables for business and economic decision-making using multiple linear regression, including dummy variables, functional form, trends and seasonality in time series as well as inference, confidence intervals and prediction
- apply statistical techniques for making decisions with quantitative and categorical data in business and economics, including testing hypotheses about population mean(s), population proportion(s), one- and two-way analysis of variance, and difference between proportions in contingency tables.
Within semester assessment: 40% + Examination: 60%
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
See also Unit timetable information