Course Title: Economics and Quantitative Analysis

Part A: Course Overview

Course Title: Economics and Quantitative Analysis

Credit Points: 12.00


Course Coordinator: TBC

Course Coordinator Phone: +61 3 9925

Course Coordinator Email: @rmit.edu.au


Pre-requisite Courses and Assumed Knowledge and Capabilities

Required Prior Study

The following courses must be successfully completed before enrolling in this course:

  • 054377 Business Decision Making 
  • 054376 Understanding the Business Environment 


Course Description

Economics and Quantitative 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

To participate successfully in this course, it is highly recommended that you:  

  • Understand the external business environment such as influences from government, markets and industry 
  • Have a basic understanding of excel, statistics, and quantitative analysis for business and management  
  • Have a basic understanding of the macroeconomy and global business environment 
  • Have an understanding of the business/commercial environment in the economy 


You will achieve the following course learning outcomes (CLOs) upon successful completion of this course: 

  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. Work in teams or individually to 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

This course uses highly structured learning activities to guide your learning process and prepare you for the assessments. The activities are a combination of individual, peer-supported and facilitator-guided activities, and where possible project-led, with opportunities for feedback throughout. 

The learning activities have been designed to assist you in the development of a number of important graduate capabilities. Authentic and industry-relevant learning is critical to this course, and you will be encouraged to critically compare and contrast what is happening in your preferred profession and/or industry, and to use your personal insights.  

You are expected to consistently apply yourself to the course throughout the semester. Social learning is another important component, and you are expected to participate in class and group activities, share drafts of work and resources and give and receive peer feedback. You will be expected to work efficiently and effectively with others to achieve outcomes greater than those that you might have achieved alone. 

Seminars/workshops are designed to supplement the material provided on the RMIT CANVAS site and the recommended readings. Discussions in seminars are specifically designed using group work and problem-solving activities so that you may gain clarification of topics covered throughout the semester. The seminar setting also provides the opportunity for you to critically evaluate problems and develop confidence in your ability to apply theoretical issues to practical situations


Overview of Learning Resources

A range of texts and articles will be referred to in class. You will be given a list of suggested readings, but you are required to undertake further reading throughout the duration of the course. Feedback will be provided throughout the semester in class and/or in online discussion forums through individual and group feedback on practical exercises and individual consultation. 

RMIT Library provides extensive resources, services and study spaces. All RMIT students have access to scholarly resources including course related material, books, e-books, journals and databases. 

Computers and printers are available at every Library. You can access the Internet and Library e-resources. You can also access the RMIT University wireless network in the Library. 

Contact: Ask the Library for assistance and information on Library resources and services: https://www.rmit.edu.au/library. Study support is available for assistance with assignment preparation, academic writing, information literacy, referencing, maths and study skills.  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 (CLOs). 

Assessment Task 1: 20%
Linked CLOs: 1, 2, 3, 5

Assessment Task 2: 40% 
Linked CLOs: 1, 2, 3, 5

Assessment Task 3: 40% 
Linked CLOs: 1, 2, 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.