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
- 20 Jul 2020
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.
- Organising and Presenting Data & Summarising Numerical Data
- Basic and Discrete Probability
- Hypothesis testing and sampling methods
- Time Series, Forecasting and Index Numbers
- Thinking like an economist
- Market supply and demand and Market Failure
- Macroeconomic measurements and Determinants of Aggregate Spending
- Macroeconomic policy
- Production costs
- Market Structure - Perfect competition, Monopoly, Imperfect competition.
- Discussion forum/Discussion Board
- Web links
- Online Quizzes/Tests
- Printable format materials
- Online Assessment
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.
- Invigilated Exam - Linked CLOs: 1, 2, 3, 4, 5, 6 (50%)
- Mid-Session Test 1 - Linked CLOs: 5, 6 (20%)
- Mid-Session Test 2 - Linked CLOs: 1, 2, 3 (30%)
Textbook information is pending.