MAE256 - Analytical Methods in Economics and Finance
| Year: | 2027 unit information |
|---|---|
| Enrolment modes: | Trimester 1: Burwood (Melbourne), Waterfront (Geelong), Online Trimester 2: Burwood (Melbourne), Online |
| Credit point(s): | 1 |
| Previously coded as: | MAE356, MAF356 |
| EFTSL value: | 0.125 |
| Prerequisite: | MIS171 |
| Corequisite: | Nil |
| Incompatible with: | MAE356, MAF356 |
| Study commitment: | Students will on average spend 150 hours over the teaching period undertaking the teaching, learning and assessment activities for this unit. |
| Scheduled learning activities - campus: | 1 x 2 hour on-campus lecture (recordings provided) each week and 1 x 1 hour on-campus seminar (recordings provided) each week. |
| Scheduled learning activities - online: | 1 x 2 hour recorded lecture and 1 x 1 hour online seminar each week. |
Content
This unit develops students’ capability in fundamental statistical analysis and quantitative methods for analysing and interpreting data in economics, finance, accounting, and broader business contexts. The unit introduces descriptive and regression analysis, as well as inferential analysis, as core tools for evidence-based decision making. Students build practical skills in applying common statistical and econometric techniques, including simple and multiple regression analysis, model specification and time series forecasting. The unit also introduces an overview of emerging approaches in big data, machine learning, and artificial intelligence, highlighting how these technologies support modern data analysis and business decision making. Using Excel and real-world datasets, students learn to calculate, interpret, and communicate statistical results in applied settings. Applications are drawn from economics, finance, and accounting, including analysing financial performance, forecasting trends, and understanding economic and market behaviour. Emphasis is placed on interpreting results, understanding model assumptions, and critically evaluating empirical evidence, including distinguishing correlation from causation. By the end of the unit, students will be equipped to apply quantitative methods to inform professional judgement and data-driven decision making across economic, financial, and accounting environments.
Unit fee information
Fees and charges vary depending on the type of fee place you hold, your course, your commencement year, the units you choose to study and their study discipline, and your study load.
Tuition fees increase at the beginning of each calendar year and all fees quoted are in Australian dollars ($AUD). Tuition fees do not include textbooks, computer equipment or software, other equipment or costs such as mandatory checks, travel and stationery.
For further information regarding tuition fees, other fees and charges, invoice due dates, withdrawal dates, payment methods visit our Current Students website.
Hurdle requirements
Hurdle requirement: Achieve at least 40% of the marks available on the end-of-unit assessment task to evidence a minimum proficiency in the aligned discipline learning outcomes included in this unit.