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Introduction to machine learning

ETC5250

Synopsis

This unit develops your ability to model multi-dimensional data using statistical and machine learning techniques. Topics covered include: dimension reduction with linear and nonlinear methods; supervised learning such as discriminant analysis, decision trees and forests, neural networks; and unsupervised learning such as k-means, hierarchical and model-based clustering. You will learn about conceptualising problems using the bias-variance trade-off and how to balance this when fitting models. Complex model fitting techniques will be covered including bagging, boosting, cross-validation, regularisation and constructing ensembles. An important component is learning how to diagnose your model, especially utilising high-dimensional visualisation methods, and explain your model with explainable artificial intelligence (XAI). You will develop practical skills in applying techniques to different problems using a suitable software environment that involves doing reproducible analyses.

Sourced from the Monash Handbook 2026.

Quick facts

Credit points
6
Level
5
Audience
Postgraduate
Type
Coursework
School
Faculty of Business and Economics
Faculty
Department of Econometrics and Business Statistics
Handbook year
2026

Prerequisites (5)

What it unlocks (3)

Offerings (1)

  • First semesterClayton · BLENDED

Listed in 2 areas of study

  • Actuarial studiesCore units
  • EconometricsList 2 - Additional econometrics units