bea140 quantitative methods - university of tasmania quantitative methods – unit outline, flexible...

School of Economics and Finance Faculty of Business

BEA140 Quantitative Methods

FLEXIBLE DELIVERY

Unit Outline Semester 2, 2012

Online Tutor:

Dr Paul Blacklow

CRICOS Provider Code: 00586B © The University of Tasmania 2012

Contact details

ONLINE TUTOR

Online Tutor: Dr Paul Blacklow

Campus: Hobart

Email: [email protected]

Phone: (03) 6226 2283

Fax: (03) 6226 7587

Room number: Commerce Building, Level 4, Room 406

Consultation hours: Tuesday 2:30‐4:30pm

Availability: Dr Blacklow does not work at UTAS on Mondays or Wednesdays.

UNIT COORDINATOR/LECTURER

Unit Coordinator/Lecturer: Mr Steve Thollar

Campus: Hobart


Phone: (03) 6226 7672 (School of Economics & Finance)

(03) 6212 8261 (Telstra Work Number)

Consultation hours: To be advised.

FLEXIBLE EDUCATION OFFICE COORDINATOR:

Flexible Education Office Coordinator:

Latha Jeyaraj

Campus: Launceston


Phone: 1800 449 902 (Toll Free) or 61 3 6324 3186

Fax: (03) 6324 3369

Room number:

Building D, Room D126, Launceston

BEA140 Quantitative Methods– Unit Outline, Flexible Delivery, Semester 2 2012

1

WELCOME TO BEA140 QUANTITATIVE METHODS

Dear BEA140 student,

Some of you will have already had exposure to some of the topics covered in this unit and will approach Quantitative

Methods with an air of confidence. But others may be daunted for a variety of reasons. You might consider yourself to be

weak at mathematics, you might be returning to study after a period of absence, or you might even be studying in a language

other than your native language.

Although it is wise not to be overconfident, the more important message is “Don’t Panic”. Although BEA140 Quantitative

Methods is a numerically oriented unit, you will hopefully find it substantially different to the Mathematics that you may

remember from school. BEA140 Quantitative Methods is NOT about theoretical derivations or algebraic manipulations. It is

an applied unit with a focus on real world business problems. It actually shares as much with Cooking as it does with

Mathematics, in as much it addresses issues like “what are we trying to produce?”, “what ingredients do we have?”, “which

recipe can we use?”, “what things do we need to look out for?” and so on.

This semester, BEA140 Quantitative Methods will be offered concurrently on four campuses – two Tasmanian (Hobart and

Launceston) and two overseas – Shanghai Ocean University and Hong Kong Universal Education and also offered flexibly. The

teaching staff on each campus are encouraged to supplement core material with ‘local’ examples and you are encouraged to

make the material more relevant by thinking of your own examples and applications. I will keep in regular contact with your

lecturer and tutor in order to ensure consistency across campuses and to monitor your progress.

The unit content has a somewhat broad coverage, with quite a wide range of topics explored to an introductory level. The

aim is to provide exposure to the variety of quantitative skills that employers could reasonably expect from any Business or

Economics graduate. Our expectation is that you will spend at least 8 hours each week studying in this unit. This includes

time spent at lectures and tutorials, reading and reflecting, and preparing for workshops and assessment tasks. We

encourage you to establish a study routine early in the semester and to address any problems as soon as they arise. The

names and contact details of your lecturer and tutor are given above. We also provide contact details for a wide range of

other support services and resources that are available to students.

BEA140 is web‐dependent. This means that a range of study resources will be available through your personal MyLO page.

Regular visits to this page, and checks of your university e‐mail account, will enable you to access these resources and to

keep you up‐to‐date with what’s happening in the unit. The face‐to‐face contact that you have with teaching staff through

lectures and workshops in BEA140 is considered a central element of the unit. Our observation is that students who prepare

in advance for lectures and actively participate in workshops are rewarded with improved understanding and performance.

On behalf of all the people involved in the delivery of BEA140 Quantitative Methods, welcome!

Steve Thollar Unit Co‐ordinator

BEA140 Quantitative Methods – Unit Outline, Flexible Delivery, Semester 2 2012

2

UNIT DESCRIPTION

BEA140 Quantitative Methods is a foundation unit in business statistics and the mathematics of finance and is a compulsory

unit in the Bachelor of Economics (BEc) and Bachelor of Business (BBus) degrees. It is also a nominated elective in a wide

range of other programs throughout the University of Tasmania.

This unit is intended to provide a background capacity in mathematics of finance and statistical description and analysis,

appropriate for a business student. The focus of the unit is on the practical use of data in a business/economic decision

environment, especially in an environment of risk and uncertainty. It does not aim to produce experts in analysis and

research.

By studying a variety of examples based on real world problems, the unit highlights the application of quantitative

methodologies to assist managers and decision makers in dimensioning and communicating risks and opportunities.

ALTERATIONS TO THE UNIT AS A RESULT OF STUDENT FEEDBACK

As part of a continuous improvement paradigm, feedback from students is used to help finetune the content, delivery and

assessment of BEA140 Quantitative Methods. As a direct result of student feedback, this year we have changed the structure

of the major assignment, so that the size of assignment varies according to team size. We have also reduced the weight on

the mid semester test.

The University of Tasmania, on a regular basis, evaluates its teaching and learning environment through the Student

Evaluation of Teaching and Learning (SETL) system. The University values feedback from students and from time to time you

will be asked to complete a SETL evaluation for a unit of study. For more information on SETL go to:

http://student.admin.utas.edu.au/setl/students/index.htm

PRIOR KNOWLEDGE &/OR SKILLS

BEA140 Quantitative Methods has a formal pre‐requisite of either;

TCE Mathematics Applied, Mathematics Stage 2 (or equivalent), or

Either TCE MAP5C Mathematics Applied, OR a higher level Mathematics subject OR equivalent studies as accepted by the School of Economics and Finance and/or by the Faculty of Business OR a bridging mathematics unit (Either UPP090 or BEA109)

A basic proficiency in English language skills and basic calculator skills are assumed.


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INTENDED LEARNING OUTCOMES AND GENERIC GRADUATE ATTRIBUTES

Learning Outcomes (LO)

On completion of the unit, you should be able to:

Assessment Criteria

In assessing this LO I will look at your ability to:

Assessment Methods

This LO will be assessed in the unit in:

Graduate Attributes**

Achieving these LO’s will contribute to the development of your:

1. Demonstrate an understanding of the basic concepts of the time valuation of money, and apply these concepts to common situations in business / personal finance

a. Identify and evaluate a variety of simple annuity (and simpler) problem scenarios.

b. Deal with common complications such as changes of interest rate, missed payments and partial payments.

c. Construct sinking fund and amortization tables.

Questions on major assignment, final exam, online test 1 and mid‐semester test.(a,b,c)

Knowledge:

Basic, broad subject knowledge.

Ability to apply knowledge to simple business situations.

Ability to recognise complex situations that are beyond the scope of your practice.

Communication:

Written communication skills at a sufficient level to clearly articulate quantitative information, explanations and interpretations to peers/managers/academics.

Ability to use appropriate summary and graphical devices as an aid to communication.

Problem‐solving:

Ability to think logically and use models and methods to analyse and quantify business issues.

Ability to identify and use needed information.

Ability to work effectively with others.

Global perspective:

Familiarity with globally accepted nomenclature and methodologies.

Social responsibility:

Meeting the ethical requirements of University study.

2. Demonstrate sound practices in sampling, data description and presentation in a business environment

d. Correctly use terminology,

e. Construct appropriate and well labelled charts

f. Evaluate and interpret summary measures.

g. Identify and describe deficiencies in sampling schemes.

Questions on major assignment and final exam. (d,e,f,g)

Questions on mid‐semester test. (f)

3. Apply basic probability concepts and probability distributions as an aid to business decision making.

h. Identify and evaluate marginal, joint and conditional probabilities.

i. Determine and interpret expectations.

j. Identify the probability distribution appropriate to a problem and evaluate probabilities.

Questions on major assignment, final exam, online test 2. (h,I,j)

4. Use sample information to draw conclusions about properties of populations from which samples are drawn.

k. Determine and interpret p‐values.

l. Construct and interpret confidence intervals.

m. Perform and interpret appropriate hypothesis tests.

n. Determine required sample sizes

Questions on final exam. (k,l,m,n)

Questions on online test 2. (k)

Questions on make‐up assignment. (m).

5. Quantify an association between two variables, explain variation and improve prediction.

o. Determine and interpret Pearson and Spearman correlation coefficients.

p. Perform OLS regression, and interpret key statistics.

q. Interpret an Excel regression printout.

r. Identify and describe common errors in bivariate methods including extrapolation, and ascribing causation.

Questions on major assignment, final exam (o,p,q,r).

Questions on mid‐semester test. (o,p)

6. Demonstrate generic quantitative problem solving skills

s. Extract key information from a problem scenario.

t. Select appropriate methodology, stating any assumptions required, and using a logical and structured approach.

u. Select, populate, and evaluate appropriate formulae.

v. Present and interpret answers.

w. Apply appropriate “sanity tests”.

Questions on major assignment, final exam, make‐up assignment (s,t,u,v,w).

** For further information on the Graduate Attributes for the School of Economics and Finance, go to http://www.utas.edu.au/ecofin


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LEARNING EXPECTATIONS AND TEACHING STRATEGIES/APPROACHES

EXPECTATIONS

The University is committed to high standards of professional conduct in all activities, and holds its commitment and

responsibilities to its students as being of paramount importance. Likewise, it holds expectations about the responsibilities

students have as they pursue their studies within the special environment the University offers.

The University’s Code of Conduct for Teaching and Learning states:

Students are expected to participate actively and positively in the teaching/learning environment. They

must attend classes when and as required, strive to maintain steady progress within the subject or unit

framework, comply with workload expectations, and submit required work on time.

UNIT WORKLOAD

As a guide, it is expected that you will need to allocate at least an average of 8 hours per week to study in this unit:

3 hours for attendance at the lecture and workshop,

1 hour reviewing and organising lecture notes,

4 hours preparing assignments, preparing for workshops, etc.

A study schedule can be accessed from MyLO. This provides an outline of the lecture content for each week, along with

recommended workshop practice problems, key milestones and suggested weekly readings.

TEACHING AND LEARNING STRATEGIES

If you need assistance in preparing for study please refer to your tutor or lecturer. For additional information refer to the

Learning Development website: http://www.utas.edu.au/learndev/. If you will be using MyLO for the first time and would

like some information on how to use MyLO refer to the information found on the entry page:

https://MyLO.utas.edu.au/webct/entryPageIns.dowebct

ADDITIONAL ASSISTANCE

If you are experiencing difficulties with your studies or assignments, have personal or life‐planning issues, disability or illness

which may affect your course of study, you are advised to raise these with your lecturer in the first instance.

There is a range of University‐wide support services available to you including Teaching & Learning, Student Services,

International Services. Please refer to the Current Students homepage at: http://www.utas.edu.au/students/

Should you require assistance in accessing the Library visit their website for more information at

http://www.utas.edu.au/library/

OCCUPATIONAL HEALTH AND SAFETY (OH&S)

The University is committed to providing a safe and secure teaching and learning environment. In addition to specific

requirements of this unit you should refer to the University’s policy at:

http://www.admin.utas.edu.au/hr/ohs/pol_proc/ohs.pdf


5

LEARNING RESOURCES REQUIRED

REQUISITE TEXTS

There is no prescribed text for this unit.

Detailed lecture overviews for Modules 1 to 4 are available via MyLO. Additional material will also be available on MyLO.

Some students may find it useful to consult alternative references as part of their study program. Students may wish to take

advantage of one of these as an additional source of worked examples, and for an alternate presentation of the material. The

study schedule refers to readings from the following five references:

Waters D, Quantitative Methods for Business, 3rd ed, Prentice Hall

Selvanathan et al, Australian Business Statistics, Abridged 2nd ed, Nelson

Berenson, Levine & Krehbiel, Basic Business Statistics, 9th ed, Prentice Hall

Croucher J, Statistics: Making Business Decisions, McGraw‐Hill

Aczel A, Complete Business Statistics, 4th ed, McGraw‐Hill

Students should note that notation may vary between references, and that in some cases even different formulae may be

used. Students should not concern themselves with any material covered in these references that is beyond what is covered

by the lecture notes. In all cases, the lecture notes should be considered the primary reference for any topic.

Most university libraries also contain a number of other suitable texts pitched at the appropriate level. Also, some material in

addition to the lecture outline notes is available via MyLO (See heading E‐(Electronic) resources MyLO below for more

details).Many students find it useful to consult alternative references as part of their study program. Some useful alternative

references:

OTHER REQUIREMENTS

CALCULATORS

It is essential to have a calculator with minimal abilities to take square roots, raise to powers and with a memory. It is

advantageous, but not necessary, to have a calculator with basic inbuilt statistical functions. It is possible to obtain a machine

for less than $30 that will suffice. If in doubt, check with a tutor. It is essential that students are competent in basic calculator

operation. It is probably wise to avoid buying a second hand calculator if the original owner has lost the instruction manual.

MICROSOFT EXCEL

Students will be shown how to use Excel as a computational tool in several parts of the unit. The ability to interpret a

standard Excel regression output is examinable, but beyond this the acquisition of Excel skills is not examinable. However,

many students may find Excel a quick and convenient way to check their calculations in assignments and practice problems.

Spreadsheet skills are very transferable, both to other subjects and to the workplace.


6

FOR MYLO

MyLO (My Learning Online)

Unit materials are available via the UTAS online learning management system MyLO. To access MyLO:

From the UTAS webpage: www.utas.edu.au > click on Current Students > MyLO.

This will take you to the Learning Online website where you can:

– Access important information about setting up your home computer for MyLO

– Login to MyLO using your UTAS username and email password.

– Access self‐help guides on how to use MyLO.

For technical support contact the Service Desk:

In person: Morris Miller Library, Hobart or Launceston Campus Library


Phone: 1818 (if you are off‐campus 1300 304903)

For questions relating to unit materials, contact your lecturer.

To access MyLO from your own computer you will need the appropriate software, and hardware to run that software. Please

see UConnect at http://uconnect.utas.edu.au/ for information about computer software you will need.

Note: Older computers may not have the hardware to run some of the required software applications. Contact your local IT

support person or the Service Desk on 1818 if you experience difficulties.

DETAILS OF TEACHING ARRANGEMENTS

LECTURES

There will be 13 two‐hour weekly lectures commencing in week 1 of the semester (Monday 16 July 2012). Lectures will cover

the core examinable material in the unit.

Lectures are recorded in video and audio format and made available on MyLO and/or MyMedia Service. The recordings are

typically available a few hours after the lecture is recorded, which for BEA140 this year will be approximately at 6pm on

Monday evenings each week.

Detailed notes on each module are available on MyLO prior to each lecture. These on their own are not an adequate

substitute for accessing the lecture recordings and taking your own lecture notes. It is recommended that you have a copy of

the module notes with you when you are accessing the recorded lecture and use these as a basis for your own note‐taking or

annotation.

ONLINE WORKSHOPS

Students are required to attend 12 online workshops. These will be held weekly via Blackboard Collaborate commencing in

week 2. Details on how to access Blackboard Collaborate and what needs to be done prior to your first online workshop are

available on the BEA140 FLEX MyLO page. Blackboard Collaborate online workshops are recorded and may be accessed at a

later date, however it is not possible to actively participate in these workshops once recorded. The day and time for online

workshops will be scheduled and assigned during the first week of semester. You will be contacted via email with the list of

possible day and times, however your preference cannot be guaranteed.


7

There is a set of workshop problems and solutions for each module of the unit that are available on MyLO. The Weekly Study

Guides available on MyLO will nominate which of these problems are to be considered in the following week’s workshop.

Students must attempt the nominated questions and where possible prepare rough solutions prior to attending their online

workshop. Students will benefit most from online workshops when they come prepared to ask their workshop instructor to

explain the solutions to certain workshop problems or aspects of the lecture notes that they have not fully understood.

Workshop sessions may also be used to provide students with an overview of assignment and test practice exercise

questions.

HOW TO SELECT A WORKSHOP GROUP

All students need to be assigned to a WORKSHOP Group. Students will find the ‘Workshop Group Sign‐up’ sheets in the

Workshops folder of the BEA140 FLEX MyLO site.

Select the icon «Workshop Group Sign Up». A list containing the time and day of week for each group will be displayed.

Click the «Sign Up» button on the left hand side of the screen of the group you wish to attend.

You will receive a message confirming your sign up.

Once you have made your choice you will no longer have access to the Workshop Group Sign Up, so make your selection carefully.

STUDENT CONSULTATION AND OFFICE HOURS

Since this unit will be taught in flexible delivery mode, students may consult with the online tutor via the following methods.

Blackboard Collaborate

The online tutor will be available for consultation online during office hours via Blackboard Collaborate.

Students may also consult with the online tutor via Blackboard Collaborate during the online workshops.

Students may also consult with the online tutor via Blackboard Collaborate by emailing or phoning to arrange an

appointment.

Phone

The online tutor will be available for consultation via phone during office hours. The online tutor is able to call you

back to help minimise the expense involved.

Students may call briefly at other times to arrange appointments or for very short queries. However the online tutor

may not always be able to take calls. The online tutor will return calls as soon as possible.

Email

Students may email the online tutor at anytime to arrange Blackboard Collaborate appointments, or with other

queries about the unit and its content. The online tutor will endeavour to return your email within 1 to 3 business

days.

Please note that the online tutor for BEA140 Flexible in 2012, Dr Paul Blacklow, works part time and does not work at UTAS

on Mondays or Wednesdays and so is unavailable for appointments and is unable to respond to emails or phone calls on

Mondays and Wednesdays. Students are also able to consult the unit co‐ordinator and lecturer for the unit, Mr Steve Thollar,

during his office hours by phone, or by email. Where possible please respect the teaching staff’s office hours and

appointments and make sure that you have tried to solve problems before seeking individual assistance.

Students experiencing difficulty in the unit are urged to contact teaching staff and make use of this service early in the

semester.

WEEKLY STUDY GUIDES


8

In the Weekly Study Guides folder of MyLO, students will find a Weekly Study Guide for each week. These guides suggest

how the students should be spending the expected 8 hours per week studying for the unit. Typically they will suggest: what

sections of the lecture notes that students should be reading while watching the lecture recording for that week; what

workshop questions that students should be attempting; what pieces of assessment they should be working on or preparing

for; and other administrative tasks students should completing like signing up for on‐line workshops.

Q&A BLOG

A question and answer (Q&A) blog is available on MyLO for students to post questions about the unit. Students are

encouraged to respond to other students’ questions with their thoughts or answers. The Online Tutor will monitor the Q&A

Blog and respond to questions within 3 business days. Further information on how to use the Q&A Blog and rules for the

Q&A Blog are available in the Q&A Blog on MyLO.

ONLINE STUDY GROUPS

Small groups of students who wish to form self‐guided online study groups via Blackboard Collaborate can do so at any time

during the semester by contacting the Online Tutor. You will need to provide the Online Tutor with a list of the names,

student ID numbers and student usernames of the individuals in your group. If you would like to be a part of an online study

group, but do not know other students, provide the Online Tutor with your name and student ID and we will attempt to

accommodate you within a group.

EMAIL CORRESPONDENCE

Staff are not required to respond to emails in which students are offensive or threatening or in which they do not identify

themselves by providing their names. When contacting staff by email you must observe the basic rules of email etiquette. For

example you should use punctuation in the normal manner, check your spelling and limit the use of abbreviations. You

should also use the title or form of address that you would use in verbal communication. You must clearly identify yourself in

the body of the email and include the unit code, or name, and campus in the subject heading (e.g. BEA140 Quantitative

Methods).

ENGLISH ASSIST FOR INTERNATIONAL STUDENTS

EnglishAssist is a service provided at no additional cost to international students who need assistance with their English

language skills, or with adjusting to Australian academic culture. The EnglishAssist staff are Louise Oxley and Morag Porteous,

and you can find them in Level 3, Medical Science Building. Call 6226 2946, or email: [email protected]

If you are an international student you can make an individual appointment with EnglishAssist. You can also attend

workshops. The schedule for workshops is available on the International Services website at

http://www.international.utas.edu.au/studentSupport/EnglishAssist/index.php

PASS (PEER ASSISTED STUDY SESSIONS)

PASS (Peer Assisted Study Sessions) is an academic mentoring program where experienced senior students provide small

group, focused, one hour study sessions for BEA140 Quantitative Methods. In a one hour PASS session each week you can

learn effective study strategies with other students studying the same subject. You will also get a chance to learn more

deeply in this subject, which will form the foundation for many of your later‐year subjects. PASS is for everyone and PASS has

a strong record of helping those students gain higher marks in BEc, BBus and other course subjects. For more information

about PASS visit the website: www.utas.edu.au/pass

BRIDGING MATHS PROGRAM (UPP090 OR BEA109)

Students only need to complete BEA109 Introduction to Quantitative Methods or UPP090 Bridging Maths if they have not

completed TCE MAP5C Mathematics Applied or a higher level Mathematics subject or equivalent.


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What’s the difference between BEA109 and UPP090?

In BEA109 Introduction to Quantitative Methods there is a final exam and you will receive a grade in the unit. In UPP090

there is no final examination and although you receive a grade it is a non‐award course. There are no fees attached to

UPP090.

The benefit of completing the unit BEA109 is that you can count it towards one of the 24 units of your degree whereas as a

non‐award course UPP090 cannot be counted towards your degree although it does count for 12.5% of a study load for

AusStudy/AbStudy or International Student Load purposes.

For more information go to: Current Students link on the web and then choose Course and Units (Handbook). Search for

either BEA109 or UPP090.

SPECIFIC ATTENDANCE/PERFORMANCE REQUIREMENTS

BEA140 is offered as an online flexible delivery unit. The contact you have with your Online Tutor through the Online

Workshops each week is a crucial element of student learning in flexible delivery. Our observation is that students who watch

lectures and participate in online workshops are rewarded with improved understanding and performance.

You can only complete the Online Test 1 during in week 4. You can only complete the Online Mid Semester Test during in

week 7. You can only complete the Online Test 2 during in week 12.

MOBILE PHONE POLICY

1. Students should normally turn off their mobile phones while in lectures and workshops.

2. In case of special circumstances, such as sick children, student phones may only be left on in class if in “silent mode”.

Students who leave their phones on should sit near an aisle. If they receive a call they should quietly get up and leave

the lecture before taking the call. This provision is meant to cater for special circumstances. Students’ answering their

mobile phone is disruptive and all these steps are designed to reduce the cost imposed on all.

3. In test situations mobile phones should be kept out of student hands and preferably in the student’s bag or backpack –

unless prior arrangement has been made with the lecturer.


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ASSESSMENT

ASSESSMENT SCHEDULE

Assessment task Date due Percent weighting Links to Intended Learning Outcomes

Online Test 1: During Week 4 5% LO1, LO6

Online Mid Semester Test: During Week 7 10% LO1, LO2, LO3, LO5, LO6

Major Assignment: End of Week 10 20% LO1, LO2, LO3, LO5, LO6

Online Test 2 During Week 12 5% LO3, LO4, LO6

Make‐up Assignment: End of Week 13 5%1 LO4, LO5, LO6

Final Exam Exam period 60% LO1, LO2, LO3, LO4, LO5, LO6

ONLINE TEST 1 (DURING WEEK 4 – THE WEEK BEGINNING 6 AUGUST)2

TASK DESCRIPTION Online Test 1 will be sat online by students in their own time during a window of availability in week

4. The test will be randomised (i.e. all students will be tested on the same topics but each student

will receive a unique set of questions). The aim of Online Test 1 is to:

Test core computational skills relating to key formulae in Module 1 of the unit.

Provide rapid feedback with regard to these core computational skills.

Contribute to non‐collaborative internal assessment.

TASK LENGTH 60 minutes in which to attempt ten to fifteen multi‐choice questions.

LINKS TO UNIT’S INTENDED LEARNING OUTCOMES

LO1, LO6

ASSESSMENT CRITERIA All questions require students to recognise the type of problem, and select, populate and evaluate the appropriate formula.

FORMAT Multiple choice test, one mark per correct answer, no penalty for incorrect answers

POLICY ON EXTENSIONS Students who cannot sit Online Test 1 during its window of availability for legitimate documented reasons will need to contact teaching staff as soon as possible to make other arrangements. You are required to fill in the form, “Request to sit a test at an alternative time”. The blank form is available on the MyLO site for this unit.

CONTRIBUTION TO FINAL MARK 5%

1 The make‐up assignment is an optional individual assignment which allows a student to replace the worse 5% of their internal assessment with the mark received for the make‐up assignment. Submitting the make‐up CAN NOT damage your overall internal mark.

2 Online Test 1 covers skills from Module 1 – the Mathematics of Finance. The content and standard of questions will be similar to the exercises in Mod 1 Practice Exercise, which is available on MyLO. (By entering different seed numbers into the Exercise workbook, a practically limitless of practice problems (and answers) can be generated.) Further details (including the window of time during which the test is available) will be made available to students in the weeks preceding the test. The test is open book, but student co‐operation is not allowed.


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ONLINE MID SEMESTER TEST (WEEK 7 – THE WEEK BEGINNING 27 AUGUST)

TASK DESCRIPTION Skills covered in Modules 1 & 2. The content and standard of questions will be similar to the exercises in Mod 1 Practice Exercise and Mod 2 Practice Exercise. The test is intended to:

Give students experience of exam conditions,

Provide feedback to students on their progress in the unit,

Contribute to non‐collaborative internal assessment

TASK LENGTH 60 to 75 minutes (to be advised during semester)

LINKS TO UNIT’S LEARNING OUTCOMES

LO1, LO2,LO5, LO6

ASSESSMENT CRITERIA All questions require students to recognise the type of problem, and select, populate and evaluate the appropriate formula. Students are expected to sanity check their answers as only the answers will be marked.

FORMAT Open Book Multiple choice test, one mark per correct answer, no penalty for incorrect answers.

POLICY ON EXTENSIONS Students who cannot make the mid‐semester test for legitimate documentable reasons will need to contact teaching staff as soon as possible to make other arrangements. You are required to fill in the form, “Request to sit a test at an alternative time”. The blank form is available on the MyLO site for this unit.


MAJOR ASSIGNMENT DUE 28 SEPTEMBER (END OF WEEK 10), BY 4.00PM

TASK DESCRIPTION The assignment will consist of preparing answers to a variety of problems, with workings and procedures shown, and for which part marks may be awarded for incorrect answers. It is recommended that students work on the assignment in teams of two or three. Where a student expects to have difficulty working in a team because of work or family commitments (etc) provision will be made for the student to submit the assignment as an individual, but any such student will need to obtain approval from their lecturer.

TASK LENGTH Six to ten multipart questions.


LO1, LO2, LO3, LO5, LO6

ASSESSMENT CRITERIA An assessment rubric for the major assignment is provided as an attachment to the major assignment question sheet.

FORMAT Students may submit either a hand written or word processed assignment. Only one assignment should be submitted per team. Students should keep a photocopy for study purposes. Students should answer in sufficient detail to allow the marker to follow the logic of their answers. Typically this would be a similar level of detail to the worked examples appearing in the lecture notes. A SIGNED COVER SHEET IS REQUIRED. (See heading below ‘Submission of Assessment’ for details on how to lodge your mini assignment).

POLICY ON EXTENSIONS Students with legitimate documented reasons who require an extension for the assignment need to contact teaching staff well before the due date to make other arrangements. The student is required to fill in the form, “Approval of an extension for an assignment”.



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ONLINE TEST 2 (DURING WEEK 12 – THE WEEK BEGINNING 8 OCTOBER)3

TASK DESCRIPTION Online Test 2 will be sat online by students in their own time during a window of availability in week

12. The test will be randomised (i.e. all students will be tested on the same topics but each student

will receive a unique set of questions). The aim of Online Test 2 is to:

Test core computational skills relating to key formulae in Module 3 of the unit.

Provide rapid feedback with regard to these core computational skills.

Contribute to non‐collaborative internal assessment.

TASK LENGTH 60 minutes in which to attempt ten to fifteen multi‐choice questions.

LINKS TO UNIT’S INTENDED LEARNING OUTCOMES

LO3, LO6

ASSESSMENT CRITERIA All questions require students to recognise the type of problem, and select, populate and evaluate the appropriate formula.

FORMAT Multiple choice test, one mark per correct answer, no penalty for incorrect answers

POLICY ON EXTENSIONS Students who cannot sit Online Test 2 during its window of availability for legitimate documented reasons will need to contact teaching staff as soon as possible to make other arrangements. You are required to fill in the form, “Request to sit a test at an alternative time”. The blank form is available on the MyLO site for this unit.


OPTIONAL MAKE‐UP ASSIGNMENT 19 OCTOBER (END OF WEEK 13), BY 4.00PM

TASK DESCRIPTION The assignment will consist of preparing answers to a variety of problems, with workings and procedures shown, and for which part marks may be awarded for incorrect answers. The make‐up assignment is an individual assignment, and MAY NOT be submitted by teams.

TASK LENGTH Two multipart questions


LO4, LO5, LO6

ASSESSMENT CRITERIA An assessment rubric for the major assignment is provided as an attachment to the assignment question sheet.

FORMAT Students may submit either a hand written or word processed assignment. Students should keep a photocopy for study purposes. Students should answer in sufficient detail to allow the marker to follow the logic of their answers. Typically this would be a similar level of detail to the worked examples appearing in the lecture notes. A SIGNED COVER SHEET IS REQUIRED.

POLICY ON EXTENSIONS Deadlines for the finalisation of internal marks mean that no extensions will be available.

CONTRIBUTION TO FINAL MARK 5% ‐ The make‐up assignment is an optional individual assignment which allows a student to replace the worst 5% of their internal assessment with the mark received for the make‐up assignment. A detailed description of how marks for the make‐up assignment contribute to internal assessment will appear as an attachment to the make‐up assignment.

3 Online Test 2 covers skills from Module 3 – Probability. The content and standard of questions will be similar to the exercises in Mod 3 Practice Exercise, which is available on MyLO. (By entering different seed numbers into the Exercise workbook, a practically limitless of practice problems (and answers) can be generated.) Further details (including the window of time during which the test is available) will be made available to students in the weeks preceding the test. The test is open book, but student co‐operation is not allowed.


13

FINAL EXAM

DESCRIPTION / CONDITIONS Length: 3 hours

Section Question Format Number of questions Worth

A Multiple choice 20 questions 20 marks

B Multiple part Answer 6 questions 160 marks

180 marks

Previous end of year exams and solutions to these are available through MyLO. (NB Section A (multiple choice) questions are NOT available.)


LO1, LO2, LO3, LO4, LO5, LO6

THE FINAL EXAM IS CONDUCTED BY THE UNIVERSITY REGISTRAR IN THE FORMAL EXAMINATION PERIOD. SEE THE CURRENT STUDENTS HOMEPAGE (EXAMINATIONS AND RESULTS) ON THE UNIVERSITY’S WEBSITE.

HOW YOUR FINAL RESULT IS DETERMINED

Your final mark for this unit is determined by your internal assessment (40%) and your examination mark (60%). In order to

pass this unit your final total mark (i.e., the sum of internal and examination mark) must be 50% or higher. Final marks may

be moderated.

SUBMISSION OF ASSESSMENT

In order to submit the Major Assignment and the Optional Make‐Up Assignment you must first complete and submit the

Assignment Registration Form available in the Assessment folder in MyLO. Once the form is submitted the student (or the

student who appears first in the list if submitting as a group for the Major Assignment) will be sent a copy of the Assignment

Cover Sheet and an envelope to post the finished assignment back to the university. It is essential that students use this

envelope as it will contain tracking facilities so that it can be traced if the assignment goes astray in the mail. It is essential to

fill in your name(s), student ID number(s) and Workshop Group number(s) on the Assignment Cover Sheet. You are required

to keep a copy of your assignment – photocopying or scanning the assignment is ideal.

Please remember that you are responsible for lodging your work on or before the due date.

REQUESTS FOR ASSESSMENT EXTENSIONS

Extensions will only be granted on the basis of consultation with your Online Tutor well before the due date. If you are ill,

please provide a medical certificate so that this can be noted. Students are required to fill out the form “Approval of an

extension for an assignment”. The blank form can be found in the Unit Info & Admin Forms folder on the MyLO site for this

unit.


14

LATE ASSESSMENT POLICY

1. In this Policy

(a) ‘day’ or ‘days’ includes all calendar days, including weekends and public holidays; (b) ‘late’ means after the due date and time; and (c) ‘coursework’ includes all internal non‐examination based forms of assessment

2. This Policy applies to all students enrolled in Faculty of Business Units at whatever Campus or geographical location. 3. Students are expected to submit coursework on or before the due date and time specified in the relevant Unit Outline.

The onus is on the student to prove the date and time of submission. 4. Students with special circumstances may apply for an extension. Requests for extensions should, where possible, be

made in writing to the Unit Coordinator on or before the due date. Students will need to provide independent supporting documentation to substantiate their claims.

5. Late submission of coursework will incur a penalty of 10% of the total marks possible for that piece of assessment for

each day the coursework is late unless an extension had been granted on or before the relevant due date. 6. Coursework submitted more than five (5) days late will not be accepted. 7. Academic staff do NOT have the discretion to waive a late penalty, subject to clause 4 above.

ACADEMIC REFERENCING

In your written work you will need to support your ideas by referring to scholarly literature, works of art and/or inventions. It

is important that you understand how to correctly refer to the work of others and maintain academic integrity.

Failure to appropriately acknowledge the ideas of others constitutes academic dishonesty (plagiarism), a matter considered

by the University of Tasmania as a serious offence.

The appropriate referencing style for this unit is: the Harvard style. For information on presentation of assignments,

including referencing styles: http://utas.libguides.com/referencing

ACADEMIC MISCONDUCT

Academic misconduct includes cheating, plagiarism, allowing another student to copy work for an assignment or an

examination and any other conduct by which a student:

(a) seeks to gain, for themselves or for any other person, any academic advantage or advancement to which

they or that other person are not entitled; or

(b) improperly disadvantages any other student.

Students engaging in any form of academic misconduct may be dealt with under the Ordinance of Student Discipline, and this

can include imposition of penalties that range from a deduction/cancellation of marks to exclusion from a unit or the

University. Details of penalties that can be imposed are available in the Ordinance of Student Discipline – Part 3 Academic

Misconduct, see http://www.utas.edu.au/universitycouncil/legislation/


15

Plagiarism

Plagiarism is a form of cheating. It is taking and using someone else's thoughts, writings or inventions and representing

them as your own; for example, using an author's words without putting them in quotation marks and citing the source,

using an author's ideas without proper acknowledgment and citation, copying another student's work. If you have any

doubts about how to refer to the work of others in your assignments, please consult your lecturer or tutor for relevant

referencing guidelines, and the academic integrity resources on the web at: http://www.academicintegrity.utas.edu.au/

The intentional copying of someone else’s work as one’s own is a serious offence punishable by penalties that may range

from a fine or deduction/cancellation of marks and, in the most serious of cases, to exclusion from a unit, a course or the

University.

The University and any persons authorised by the University may submit your assessable works to a plagiarism

checking service, to obtain a report on possible instances of plagiarism. Assessable works may also be included in

a reference database. It is a condition of this arrangement that the original author’s permission is required before

a work within the database can be viewed.

For further information on this statement and general referencing guidelines, see http://www.utas.edu.au/plagiarism/ or

follow the link under ‘Policy, Procedures and Feedback’ on the Current Students homepage.

HELP RESOLVING CONCERNS ABOUT THIS UNIT

If you have any concerns or complaints with the administration and/or management in this unit or your BEc course of either

a general or personal nature, then you might in the first instance discuss the matter with your lecturer. If you feel that you

would rather discuss the issue with an independent person within the School of Economics and Finance, then contact:

If the matter is still unresolved and you would like to know who to contact or the procedures for resolving your concern refer

to the following website: http://www.admin.utas.edu.au/ac_serv/complaints_info.html.

The Hobart based Tasmanian University Union (TUU) or the Launceston/Burnie based Student Association (SA) may also be

able to assist.

BACHELOR OF ECONOMICS COURSE COORDINATOR

If you require assistance with your course please see:

Course coordinator: Dr Michael Brooks

Campus: Hobart, Commerce Building, Level 4, Room 405

Contact 03 6226 2286


16

UNIT SCHEDULE*

Week Start of Week Topic Key Dates

1 16‐Jul‐12 Introduction to Unit. Summation notation. Introduction to mathematics of finance. Interest, present and future values of a single amount, solution for time and interest rate. Effective and equivalent rates.

2 23‐Jul‐12 Introduction to simple annuities. Perpetuities. Amortisation. (Including dealing with changes in interest rate, missed/extra payments, annuities due).

Workshops begin in week 2

3 30‐Jul‐12 Sinking funds, “flat rate” problems. Commence Module 2 ‐ Data Properties and Collection ‐ types, sources, sampling (random, non‐random). Presenting raw data.

4 6‐Aug‐12 Summary – Summary measures for raw data, and for grouped data. (Including interpolation with grouped data) Online Test 1 (5%)Friday 10 August Semester 2 HECS census date

5 13‐Aug‐12 Summary and Presentation with Bivariate Data ‐ scatter diagram, correlation, principle of least squares, determining line of best fit, goodness of fit, explained & unexplained variation, Spearman's Rank Correlation Coefficient

6 20‐Aug‐12 Commence Module 3 ‐ Probability Basic Probability – concepts, laws, trees & tables, independence, Bayes’ rule.

7 27‐Aug‐12 Mid Semester Test and Private Study Week – the mid‐semester test will be held during lecture time. Online Mid Semester Test (in class 10%)

Mid Semester Break 3 September to 7 September

8 10‐Sep‐12 Discrete Probability Distributions ‐ expectations, Poisson, binomial.

9 17‐Sep‐12 Continuous Probability Distributions ‐ normal, z‐scores, approximations of the binomial and Poisson by the normal

10 24‐Sep‐12 Sampling Distributions – sampling distribution of means, sampling of proportions, Central Limit Theorem, finite population correction factor, the Student’s t distribution. Commence Module 4 ‐ Estimation & Inference Estimation ‐ point & interval estimates for population mean.

Friday 28 September Major Assignment (20%)

11 1‐Oct‐12 Point & interval estimates for population proportion, determination of optimal sample size, Inference ‐ one sample tests of mean and proportion, types of error, one & two tailed tests, significance

12 8‐Oct‐12 Bivariate Inference, ‐ Chi‐squared test for independence. Tests for existence of linear relationship, confidence interval for slope, test for significance of Spearman Rank Correlation coefficient.

Online Test 2 (5%)

13 15‐Oct‐12 Unit Review and Feedback Friday 19 October Optional Make Up Assignment (5%)

Study Period: October 22 – October 26 Semester 2 Examinations: Saturday October 27 ‐ Tuesday November 13

*See Study Schedule on MyLO for a more detailed study schedule.

bea140 quantitative methods - university of tasmania quantitative methods – unit outline, flexible...

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