ETC5252 Probability and statistical inference for economics and business
Faculty of Business and Economics
ETC5252 Probability and statistical inference for economics and business is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2020 in Semester 2 at Clayton. It has no prerequisites and unlocks 2 units.
- Credit points
- 6
- Offered in 2020
- Semester 2
- Clayton
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2020 handbook entry. See the 2027 entry.
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Requisites
Before ETC5252
Prohibitions
You can't enrol if you have passed any of these.
After ETC5252
2 units list ETC5252 as a prerequisite or corequisite.
Enrolment rules
Students must be enrolled in B6001 or B6014.
Equivalent units
The same content under another code. Only one of them counts.
Overview
An introduction to probability and statistical inference for use in economics and business. Topics covered include random variables, moments and cumulants generating function, discrete and continuous distributions, independence, jointly distributed random variables, conditional random variables, the central limit theorem, sampling distribution, properties of estimators, confidence intervals, tests of hypotheses.
Offerings in 2020
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester | Clayton | On campus |
Assessment
- Within semester assessment40%
- Examination60%
Learning outcomes
When you finish this unit, you should be able to:
- 1
understand concepts of probability, statistical inference, generating functions and cumulants
- 2
derive and use generating functions to evaluate moments and establish the distribution of linear combinations of independent random variables
- 3
understand and apply the main methods of estimation and the main properties of estimators
- 4
construct confidence intervals for unknown parameters and test hypotheses
- 5
develop written, presentational and group work skills through a series of assessed essays, assignments and tutorial work
- 6
describe the use of methods learnt during the course of this unit in business and economics.
Workload and teaching
- Tutorials18 hours
- Lectures24 hours
- Teaching approachProblem-based learning
- Teaching approachPeer assisted learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
Contacts
- Chief Examiners
- Professor Farshid Vahid-Araghi
Common questions
What are the prerequisites for ETC5252?
ETC5252 has no prerequisites, but enrolment rules apply.
What can I take after ETC5252?
ETC5252 is a prerequisite or corequisite for 2 units, including ETC5342 and ETC5351.
When is ETC5252 offered?
In 2020, ETC5252 runs in Semester 2 at Clayton.
How much work is ETC5252?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ETC5252 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 1 other task.