MC122 - Master of Statistics (Business)

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Plan: MC122 - Master of Statistics (Business)
Campus: City Campus

Overview

Program details
Objectives of the program
Articulation and pathways
Entrance requirements
External accreditation and industry links
Student expenses and charges in addition to fees
Library, IT and specialist resources

Program details

Award title: Master of Statistics (Business)
Award abbreviation: MStats(Bus)
Total credit points: 144
Career: PGRD
Duration: 1.5 years full time or 3 years part time
Location: Onshore, City
Owning school: Mathematical & Geospatial Sciences (145H)
Owning school URL: www.rmit.edu.au/mathsgeo
ASCED code: 010103
CRICOS code: 038979E

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Objectives of the program

This masters program puts into context statistical concepts for the business world. The degree is offered jointly by specialists from all six schools in RMIT Business and specialist statisticians from the School of Mathematical and Geospatial Sciences.

There has been a big increase in finance jobs needing skills in data analysis, computers, financial modelling, forecasting etc. There is a gap in employees’ experience and currently this is bridged by on-the –job training within organisations or by calling in consultants to complete specialist work. This gap exists not just in the Finance industry but across the spectrum of the Business disciplines.

The main objective of the program is to produce graduates with a good working knowledge of Statistics and equipped with software tools they can readily apply in a rapidly changing business environment.  They will be made aware of how the discipline can be used to model economic and industrial phenomena. They will also become familiar with methods for the acquisition and analysis of data using contemporary statistical software and computer related technologies.

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Articulation and pathways

A student who has successfully completed Year 1 of MC122 may opt to leave the program with the following graduate diploma:

GD111: Graduate Diploma in Statistics (Business).

Conversely, a student who has completed GD111 may apply for entry into MC122 and be exempted from Stage A and Stage B of the masters program.

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Entrance requirements

Entry to the program requires the successful completion of a bachelor degree with a component in a numerate discipline. For example, graduates of business, or diverse areas such as psychology and applied biology, who have studied statistics in contextualised courses may be eligible to meet the entrance requirements. An applicant without the necessary formal background but who has substantial knowledge of business or industrial practices through their work experiences may also be admitted.

International students must achieve one of the following English language requirements prior to entry into program:

  • IELTS (Academic) – 6.5+ (no band less than 6.0)
  • TOEFL Paper based – 580+ (TWE 4.5+)
  • TOEFL Computer based – 237+ (TWE 4.5+)
  • TOEFL Internet based (BT) – Overall score 92, minimum 20
  • REW – English for Academic Purposes Advanced 2

 

 

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External accreditation and industry links

On completion, you will be eligible to become members of the following organisations: Australian Statistical Society, Australian Society for Operations Research and the American Statistical Association.

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Student expenses and charges in addition to fees

There are no additional charges.

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Library, IT and specialist resources

Course guide, learning materials, assignments and their solutions can be accessed through the Learning Hub (also known as online@RMIT). The RMIT library (city campus) has an excellent range of books and journals as well as electronic resources to support the program. A wide range of relevant journals not available in the RMIT library can be accessed electronically.

The School has many computing laboratories, which include the Mathematics and Statistics Laboratory and the Calegari Laboratory located in room 8.9.48 and 8.9.49 respectively. These laboratories are equipped with modern computers and accessories and supported by state-of-the-art mathematics and Statistics software. RMIT has a planned budget to ensure that all computers are upgraded on a regular basis.

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