QM Subject Guide PDF

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Quantitative Methods 1 subject guide...

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ECON10005 Quantitative Methods 1 SUBJECT GUIDE

Semester 2, 2021

Prepared by Yong Song Department of Economics Faculty of Business and Economics

Subject Outline Introduction Welcome to QM1. This subject covers core concepts which underpin quantitative analysis in economics and commerce. It provides a pre-requisite for second-year quantitative subjects and a foundation for other subjects in a commerce degree. The prerequisite for the subject is VCE Mathematical Methods or equivalent. It is assumed that students have learned concepts of algebra, differential calculus, probability and probability distributions.

Learning Outcomes Subject Overview, Learning Outcomes and Generic Skills To view the subject overview, intended learning outcomes and the generic skills you will develop through successful completion of this subject, please see the University Handbook: https://handbook.unimelb.edu.au/2021/subjects/econ10005

Eligibility and Requirements To view the eligibility and requirements, including prerequisites, corequisites, recommended background knowledge and core participation requirements for this subject, please see the University Handbook: https://handbook.unimelb.edu.au/2021/subjects/econ10005/eligibility-and-requirements

Academic Staff Contact Details Please see the subject LMS site for full contact details of the teaching staff in this subject. Administrative Contact Dr. Wasana Karunarathne Email: [email protected] Subject Coordinator Dr. Yong Song Email: [email protected] Phone: (+61) 03 8344 0997 Tutors Please check the LMS page for tutors’ contact details.

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Email Protocol Please note that we are only able to respond to student emails coming from a University email address. Please do not use personal email addresses such as Yahoo, Hotmail or even business email addresses. Emails from non-University email addresses may be filtered by the University’s spam filter, which means that we may not receive your email. All correspondence relating to this subject will only be sent to your University email address. Note that you must first activate your University email address before you can send or receive emails at that address. You can activate your email account at this link: http://accounts.unimelb.edu.au/. While academic staff endeavor to address queries received via email, it is more appropriate to resolve substantive questions during lectures and tutorials and/or during normal consultation hours. With this in mind, we encourage students to attend all lectures and tutorials and to familiarise themselves with the consultation hours offered by the lecturers and tutors in this subject.

Lectures Lectures will be dually delivered in semester 2 2021. There will be two face-to-face lectures in each week, which are live through zoom meeting. All lectures will be recorded and made available on the LMS. Reading materials and questions will be posted in weekly modules on the LMS. It is important to attend/watch and understand the lectures prior to attempting tutorial tasks, quizzes and all assessment tasks. In QM1, students are provided with a variety of resources to help them with their learning, including: • Lecture notes and recordings • Revision questions to check understanding of lectures • Weekly reading (available via LMS) • Tutorials Students are expected to complete these reading and review tasks and exercises each week.

Tutorials Tutorials cover the content from lectures in the previous week. Students are all expected to attend a one-hour tutorial each week (online or face-to-face), with meeting details emailed by your tutor. If you have not been contacted by a tutor, please send an email to the QM1 email address.

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The tutorials are a fundamental component of the subject and are designed to help you prepare for completing the assignments and taking the final exam. Students are strictly advised to attend their own tutorial session each week. A small amount preparation work will be posted on the LMS each week that must be completed before the tutorial of the following week. There will also be an on-line quiz to answer following the completion of this work.

Private Tutoring Services The Faculty has become increasingly concerned about the existence of a number of private tutoring services operating in Melbourne that heavily target University of Melbourne students enrolled in FBE subjects. Students are urged to show caution and exercise their judgement if they are considering using any of these services, and to please take note of the following: Any claim by any of these businesses that they have a “special” or “collaborative” or “partnership” style relationship with the University or Faculty is false and misleading. Any claim by a private tutoring service that they are in possession of, or can supply you with, forthcoming University exam or assignment questions or “insider” or “exclusive” information is also false and misleading. The University has no relationship whatsoever with any of these services and takes these claims very seriously as they threaten to damage the University’s reputation and undermine its independence. It is also not appropriate for students to provide course materials (including University curricula, reading materials, exam and assignment questions and answers) to operators of these businesses for the purposes of allowing them to conduct commercial tutoring activities. Doing so may amount to misconduct and will be taken seriously. Those materials contain intellectual property owned or controlled by the University. We encourage you to bring to the attention of Faculty staff any behaviour or activity that is not aligned with University expectations or policy as outlined above.

Assessment Assessment Overview Assessment Task

Individual or Group

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Due

Weighting

Weekly online quizzes

Individual

Every Monday 2pm

10%

Mid-semester test 1

Individual

Week 5

10%

Mid-semester test 2

Individual

Week 9

10%

Assignment

Group

Week 11

10%

End of semester exam, 3 hours.

Individual

During the exam period

60%

Hurdle requirement: To pass this subject, students must pass the end of semester examination.

Weekly Online Quizzes For each tutorial from week 2, 1 mark will be available for successfully completing the online quiz. To obtain this, students are required to complete a pre-tutorial task posted on the LMS the preceding week and answer the online quiz based on this work. A score of at least 50% on the quiz is required to obtain the mark. If you have medical or other legitimate reasons for being unable to complete the quiz, apply to have the mark for that week transferred to the final exam. (Details of the application procedure is available on the LMS.) Mid-semester Tests There are two mid semester tests for this subject. Test 1: A 90-minute online test in week 5 of semester, details to be advised. Test 2: A 90-minute online test in week 9 of semester, details to be advised. It is expected that students are available for both tests. Extensions will not be provided. Students who cannot attend either of the tests due to valid documented reasons can apply for special consideration following the online special consideration process. http://students.unimelb.edu.au/admin/special Teaching staff cannot approve extension or special consideration requests. Assignment You are encouraged to work on the assignment in groups of up to but no more than four students and to submit a single electronic copy as a group. All members of a group submitting a single assignment must belong to the same tutorial and all members of the group will be given the same mark. Students may choose to work and hand in an assignment on their own 5

if they wish. It is possible that due dates for one or more of the assignments will also be due dates for work in another subject or subjects. Be mindful of this. Extensions •

A maximum extension of 7 days may be granted for the final submission.

Requests for an assignment extension should be submitted here: http://go.unimelb.edu.au/yh9n. Teaching staff cannot approve extension or special consideration requests. Work commitments, personal travel, late enrolment and having multiple assignments due are not grounds for an extension. Applications can take up to 3 business days to be assessed and for an outcome provided. Applications received after the original due date will not be accepted. You will need to provide sufficient supporting documentation to shows how your circumstances have been impacted such as a health professional letter in the case of illness, academic adjustment plan or a Statutory declaration. Please note that you are required to keep a copy of your assignment after it has been submitted as you must be able to produce a copy of your assignment at the request of teaching staff at any time after the submission due date. End of semester exam The online final exam accounts for 60% of your final mark. All topics are examinable and there will be little covered in tutorials and assignments which will not be examinable. It is necessary to pass the final exam (a mark greater than or equal to 50%) to pass the subject. The Faculty requires that you are available for the entire examination period at the end of semester. Supplementary exams will not be provided in case of absence during the examination period, unless the absence is due to serious illness or other serious circumstances, see http://students.unimelb.edu.au/admin/special

Further Assistance Tutor Consultations Tutors conduct consultations via face-to-face meeting or Zoom during the teaching weeks throughout the semester. Details are available on the LMS under the staff consultation module. Online Discussion Board

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A discussion board moderated by tutors will be available for students via LMS. This platform will facilitate students to anonymously (i) ask questions online (ii) respond to questions asked by their fellow students. It can be accessed 24 hours a day, 7 days a week. The moderator will attempt to moderate or answer questions within 24 hours (weekdays only). To ensure that all students have a fair and equal opportunity to have their questions answered, questions relating to assessment (e.g., assignments and the final exam) submitted less than 24 hours before the assessment deadline will not be answered. The discussion board is not designed to replace attendance at tutorials or your own reading and preparation. If questions can be answered by referring to the prescribed readings, then this will typically be the response. Please also note that detailed answers for assignments will not be provided through the discussion board. Solutions to assignments are provided elsewhere. If you do not understand concepts generally then please attend a consultation time. Finally, your tutors will not answer duplicate questions. Please view existing questions and answers before posting a new question.

Academic Integrity Academic Honesty The University maintains high academic standards in its courses and subjects and expects students to conduct themselves in a manner which is fair, honest and consistent with the principles of academic integrity, particularly when undertaking assessment and research. http://academicintegrity.unimelb.edu.au/ Referencing Each source used for a written piece of assessment must be referenced. This is to acknowledge that your material is not based entirely on your own ideas, but is based, in part, on the ideas, information, and evidence of others. This is desirable as you are attending University in order to learn from others. You will be required to use the APA system or Harvard System of referencing. The library has prepared a website to help students correctly reference: http://www.lib.unimelb.edu.au/recite/citations/harvard/generalNotes.html It is important that all material you present for assessment is referenced correctly. Material that has not been referenced correctly may be considered to be plagiarised, and as such may be penalised. We will also look for evidence that material included in the bibliography has been used in the assignment. Including references that have not been used may also result in your assignment being penalized. The Academic Skills Unit has produced resources to assist students with referencing https://services.unimelb.edu.au/academicskills/undergrads/top_resources The Library also provides advice on referencing: http://library.unimelb.edu.au/cite

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University Services Timetable MyTimetable is a class timetabling system that creates individual timetables for students based on submitted class preferences, ensuring everyone has an equitable opportunity of getting their preferred class timetable. You will use this system to create your class timetable prior to each study period. By following a preference-based model, students who have other commitments, such as employment or carer responsibilities, or who are returning or living overseas during the timetabling period, aren’t disadvantaged by their limited availability. When allocating class timetables, MyTimetable also takes into consideration factors such as class size limits and potential clashes to ensure all students are equally accommodated. Further information is available on the web at https://students.unimelb.edu.au/admin/class-timetable Stop 1: Connecting Students and Services Stop 1 is here to provide you with a range of support services throughout your university degree, from help with enrolment, administration and wellbeing to advice on building your skills and experiences. https://students.unimelb.edu.au/stop1 Academic Skills Academic Skills offers a range of workshops and resources to help you with study skills including researching, writing and referencing, presentation skills and preparing for exams. Visit their website via http://services.unimelb.edu.au/academicskills. Service Finder The University of Melbourne offers one of the most comprehensive student support networks in Australia. Use this site to locate a wide range of services http://services.unimelb.edu.au/finder Student Counselling Students attend counselling to talk about personal, emotional, or mental health issues which might be affecting their study and life. The University’s Counselling and Psychological Services (CAPS) provides free, confidential, short-term professional counselling to currently enrolled students and staff. https://services.unimelb.edu.au/counsel Student Equity and Disability Support Student Equity and Disability Support provides services for students who need ongoing support with their studies. They understand that adjustments to learning and assessment are sometimes required to allow all students to reach their full potential. Learn more about the services provided, how to find support and how to register for assistance. http://services.unimelb.edu.au/student-equity

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University of Melbourne Library Services As well as holding an extensive collection of books, ebooks, digital media and periodicals, library staff provide research guidance and support for students. http://library.unimelb.edu.au/ These Business and Economics Library Guides have been designed specifically for Faculty of Business and Economics staff and students. http://unimelb.libguides.com/sb.php?subject_id=80310

Policy Alternative Exam Arrangements (AEA) The definition of and eligibility requirements for alternative exam arrangements (AEA) can be found via http://students.unimelb.edu.au/admin/alternate . Assessment and Results Policy The University’s assessment policy provides a framework for the design, delivery and implementation of assessment of students in award and non-award courses and subjects. Assessment is designed to contribute to high quality learning by students, and to allow for quality assurance and the maintenance of high academic standards. https://policy.unimelb.edu.au/MPF1326 Assignment Extension Requests for an assignment extension should be submitted here: http://go.unimelb.edu.au/yh9n. Before completing this form, please read the Assignment Extension Policy, which can be found at: http://policy.unimelb.edu.au/MPF1326#section-4.37 Exam Policy The University requires that you are available for the entire examination period. Please see the University's Principal Dates via https://www.unimelb.edu.au/dates - 2021 for the full annual calendar. Supplementary exams will not be provided in cases of absence during the examination period unless the absence is due to serious illness or other serious circumstances and a Special Consideration application is submitted and approved. Plagiarism and Collusion Plagiarism (failure to cite your sources correctly and completely) and collusion (unauthorised collaboration with another person to prepare an assessment task) are considered academic misconduct and attract severe penalties. More information is available on the University’s Academic Integrity website via http://go.unimelb.edu.au/rha6.

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Special Consideration As a student, you may experience extraordinary or unusual circumstances, or ongoing circumstances that adversely affect your academic performance. The University has policies in place to support students who are experiencing academic disadvantage. For more information, visit http://students.unimelb.edu.au/admin/special.

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