ECON 1008NA - Business and Economic Statistics I

Ngee Ann Academy - Trimester 1 - 2016

In today's world, good decision making relies on data and data analysis. This course helps students develop the understanding that they will need to make informed decisions using data, and to communicate the results effectively. The course is an introduction to the essential concepts, tools and methods of statistics for students in business, economics and similar disciplines, although it may have wider interest. The focus is on concepts, reasoning, interpretation and thinking rather than computation, formulae and theory. Much of the work will require students to write effectively and communicate their ideas with clarity. The course covers two main branches of statistics: descriptive statistics and inferential statistics. Descriptive statistics includes collecting data and summarising and interpreting them through numerical and graphical techniques. Inferential statistics includes selecting and applying the correct statistical technique in order to make estimates or test claims about a population based on a sample. Topics covered may include descriptive statistics, correlation and simple regression, probability, point and interval estimation, hypothesis testing, multiple regression, time series analysis and index numbers. By the end of this course, students should understand and know how to use statistics. Students will also develop some understanding of the limitations of statistical inference and of the ethics of data analysis and statistics. Students will work in small groups in this course; this will develop the skills required to work effectively and inclusively in groups, as in a real work environment. Typically, one component of the assessment requires students to work in teams and collect and analyse data in order to answer a real-world problem of their own choosing.

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Course Details

Course Code	ECON 1008NA
Course	Business and Economic Statistics I
Coordinating Unit	Economics
Term	Trimester 1
Level	Undergraduate
Location/s	Ngee Ann Academy
Units	3
Available for Study Abroad and Exchange	N

Course Staff

No information currently available.

Course Timetable

The full timetable of all activities for this course can be accessed from Course Planner.

Course Learning Outcomes

After completing this course, students will be able to:

1.      Apply correctly a variety of statistical techniques, both descriptive and inferential.

2.      Interpret, in plain language, the application and outcomes of statistical techniques.

3.      Interpret computer output and use it to solve problems.

4.      Recognize inappropriate use or interpretation of statistics. in other courses, in the media and in life in general and comment
critically on the appropriateness of this use of statistics.

University Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

University Graduate Attribute	Course Learning Outcome(s)
Deep discipline knowledge informed and infused by cutting edge research, scaffolded throughout their program of studies acquired from personal interaction with research active educators, from year 1 accredited or validated against national or international standards (for relevant programs)	1-4
Critical thinking and problem solving steeped in research methods and rigor based on empirical evidence and the scientific approach to knowledge development demonstrated through appropriate and relevant assessment	1-4
Teamwork and communication skills developed from, with, and via the SGDE honed through assessment and practice throughout the program of studies encouraged and valued in all aspects of learning	1-4
Career and leadership readiness technology savvy professional and, where relevant, fully accredited forward thinking and well informed tested and validated by work based experiences	1-2

Learning & Teaching Activities

Learning & Teaching Modes

No information currently available.

Workload

No information currently available.

Learning Activities Summary

No information currently available.

The University's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

No information currently available.

Assessment Detail

No information currently available.

Submission

No information currently available.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through Access Adelaide.

Student Feedback

The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

Many students have commented on the team-based approach to learning used in this course. Whilst many students said they enjoyed it and thought it helped them study (some even said they thought they'd only pass because their team was so helpful and contributed so much to their learning), many thought the allocation of marks was unfair in that free-riders could earn marks too easily. Also, anecdotally, we felt that students who received marks because their team did the work for them were at a disadvantage because they did not realise they couldn't do the work until the exam, which meant they failed. To rectify this, we have a system in place so that only team members that contribute to team work will be allocated marks. Furthermore, we have the individual written test component so that students can see how they understand the topics.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator