Course Title: Quantitative Methods for Economic Analysis

Part A: Course Overview

Course Title: Quantitative Methods for Economic Analysis

Credit Points: 12.00

Important Information:  




Course Code




Learning Mode

Teaching Period(s)


City Campus


615H Accounting


Sem 1 2016,
Sem 2 2016


City Campus


625H Economics, Finance and Marketing


Sem 2 2017,
Sem 1 2018,
Sem 2 2018,
Sem 1 2019,
Sem 2 2019,
Sem 1 2020,
Sem 2 2020,
Sem 1 2021,
Sem 2 2021,
Sem 1 2022,
Sem 2 2022,
Sem 1 2023,
Sem 2 2023,
Sem 1 2024


Open Learning Australia

Non Award

625H Economics, Finance and Marketing

Distance / Correspondence


Course Coordinator: Professor Lisa Farrell

Course Coordinator Phone: +61 3 9925 5891

Course Coordinator Email:

Course Coordinator Location: Melbourne Campus, Building 80

Course Coordinator Availability: By appointment, via email

Pre-requisite Courses and Assumed Knowledge and Capabilities



Course Description

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 course 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.


Objectives/Learning Outcomes/Capability Development



On successful completion of this course you will be able to:

  1. Examine basic economic problems facing society while applying simple microeconomic theory to practical problems
  2. Evaluate the major economic aggregates and determine how they are measured
  3. Analyze and discuss the nature of business cycles to justify decision making in a professional context
  4. Identify the major economic problems that may or may not affect an economy and use appropriate economic tools to conduct analyses
  5. Apply quantitative skills to real life problems and determine interrelationships between economic variables
  6. Undertake basic estimation and hypothesis tests using knowledge of probability theory and probability distributions and interpret numerical and graphical outputs.


Overview of Learning Activities

In this course you will be encouraged to be an active learner. Your learning will be supported through various in-class and online activities comprising individual and group work. These may include quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; solving problems; conducting presentations; producing written work and collaborating with peers on set tasks or projects. Learning activities include: face to face workshops, use of online materials and resources, debates, case studies, applied research on current issues, guest speakers and completion of weekly work.


Overview of Learning Resources

Various learning resources are available online through MyRMIT Studies\Canvas. The lecture notes and workshop notes are posted on Canvas.

Resources are also available online through RMIT Library databases and other facilities. If you require assistance with the RMIT Library facilities contact the Business Liaison Librarian for your school. Contact details for Business Liaison Librarians are located online on the RMIT library website.

Additional resources and/or sources to assist your learning will be identified by your course coordinator and will be made available to you as required during the teaching period. 


Overview of Assessment

The assessment alignment list below shows the assessment tasks against the learning outcomes they develop.

Assessment Task 1: 25%
Linked CLOs: 5, 6
Assessment Task 2: 25%
Linked CLOs: 1, 2, 3
Assessment Task 3: 50%
Linked CLOs: 1, 2, 3, 4, 5, 6

Feedback will be provided throughout the semester in class and/or in online forums through individual and group feedback on practical exercises and by individual consultation.