Quantitative Methods for Economic Analysis
Understand the economy, how it works, why it sometimes fails and what informs policy-makers’ decisions. See how business cycles operate. Explore probability theory and distributions. Draw on your learnings when making business or accounting decisions.
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Subjects may require attendance
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On successful completion of this subject you will be able to:
- CLO1: Examine basic economic problems facing society while applying simple microeconomic theory to practical problems
- CLO2: Evaluate the major economic aggregates and determine how they are measured
- CLO3: Analyse and discuss the nature of business cycles to justify decision making in a professional context
- CLO4: Identify the major economic problems that may or may not affect an economy and use appropriate economic tools to conduct analyses
- CLO5: Apply quantitative skills to real life problems and determine interrelationships between economic variables
- CLO6: Undertake basic estimation and hypothesis tests using knowledge of probability theory and probability distributions and interpret numerical and graphical outputs.
- Please refer to RMIT University's Learning Management System - Canvas, for further details.
In order to enrol in this subject, you must be accepted into one of the following degrees:
No special requirements
Quantitative Methods for Economic Analysis will provide you with insights into the structure of an economy, how it operates, why economic problems occur and the reasons why policy makers make the decisions they make.
This subject is designed to provide you with the economic knowledge and skills necessary to make well-informed business and accounting decisions. It will also introduce you to various quantitative methods and techniques to facilitate these decision-making practices.
Please note: The assessment for this course is currently under review and is subject to change
- Assessment Task 3 (Linked CLOs: 1, 2, 3, 4, 5, 6) (50%)
- Assessment Task 1 (Linked CLOs: 5, 6) (25%)
- Assessment Task 2 (Linked CLOs: 1, 2, 3) (25%)