Unit Outline

This unit provides managers with an introduction to a comprehensive range of key data analysis, statistics, microeconomic and macroeconomic topics. The emphasis is on the practical application of basic statistical techniques, economic concepts and models to real world business-oriented problems and on developing students’ ability to apply the economic way of thinking to solving problems within a firm and understanding the economic environment in which they operate. The use of mathematics and arithmetical calculations are kept to a minimum for selected topics in statistics by using the Microsoft Excel spreadsheet package.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

On completion of this unit, you will be able to:


1.	Apply key statistical techniques in sustainable business environments.
2.	Recommend solutions using statistical techniques in Australian and international businesses.
3.	Deconstruct simple events and decisions using economic concepts in contemporary business and government problems.
4.	Recommend policy and business solutions using economic concepts in Australian and international organisations.

Alterations as a result of student feedback

To be determined

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Invigilated test	Week 7	40 %	LO3, LO4
Assessment Task 2:	Report	Week 12	35 %	LO1, LO2
Assessment Task 3:	Invigilated test	Week 13	25 %	LO1, LO2

Assessment details

Assessment Task 1: Invigilated test

Task Description:

Students will complete an invigilated test using Respondus Lockdown Browser on Mylo. This test includes both theoretical and numerical questions in the form of Multiple-choice and short-answered questions relating to the economics part of the unit (first 6 weeks).

Task Length:

75 minutes

Due Date:

Week 7

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Apply economic concepts to business and government contexts	LO3
2	Select appropriate economic principles to address questions	LO3
3	Interpret results of economic analysis in an Australian or international organisational context	LO4

Assessment Task 2: Report

Task Description:

This assessment task has two parts. The first part is to be completed in groups (of size 3 max). The second part is to be completed by each student separately.

Part A Technical Report (group): Students will work in teams to design and implement a primary data collection strategy with the aim of creating information for data analysis to inform a decision or policy about a business/policy issue or opportunity. based on a set of challenges articulated in the learning material. As a group a report of 1000-1250 words will be generated. The report will (i) introduce the topic of choice, (ii) identify the key issues and objectives the data generated is trying to inform, (ii) explain the different statistical underpinnings of data collection instrument and process. In addition, a copy of the data collection instrument and the collected data are to be submitted. Finally, each group member will write a short reflection on their contributions to and learning from the group process for each of the three parts outlined above. This reflection should also propose one improvement they would make to the group process based on their experience.

Part B Briefing Report (individual): Each student in the group will perform analysis of the data collected/generated in the group stage to develop a non-technical 800–1200-word briefing note directed towards a senior manager recommending solutions using appropriate statistical techniques.

20% (part A) + 15% (part B) = 35%

Task Length:

Part A: 1000-1250 words plus creation of an Excel workbook containing collected and encoded data. Part B: 800-1200 words

Due Date:

Week 12

Weight:

35 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Apply statistical techniques accurately	LO1
2	Select appropriate statistical techniques to address questions	LO1
3	Communicate clearly and in a professional manner, within word and time limits, to respond to the needs of a senior manager.	LO2
4	Reflect on team processes to identify learnings and suggest improvements for possible future projects.	LO2
5	Interpret results of statistical analysis in an Australian or international business context.	LO2
6	Propose solutions using appropriate statistical modelling.	LO2

Assessment Task 3: Invigilated test

Task Description:

Task Length:

75 minutes

Due Date:

Week 13

Weight:

25 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Apply statistical techniques accurately	LO1
2	Select appropriate statistical techniques to address questions	LO1
3	Interpret results of statistical analysis in an Australian business context	LO2

How your final result is determined

To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.

Required Resources

Required reading materials

Levine, D., Stephan, D. and Szabat, K. (2017). Statistics for Managers Using Microsoft Excel (8th edition). New Jersey: Prentice Hall, Upper Saddle River.

Farnham, P.G. (2015). Economics for Managers (Global 3rd edition). Pearson Education Limited, England.

Note that weekly readings will be mainly drawn from the above prescribed textbooks. The library has online copies of the textbooks.

Additional readings: If required, information on Additional readings will be provided on Mylo.