ECON 1016 Evidence-Based Decision Making

Credit Points 10

Coordinator Heath Spong Opens in new window

Description Evidence-based decision-making is a core skill for all Business graduates. This subject explores the nature of data and builds an understanding of foundational numeracy concepts with the application of appropriate tools and techniques. These skills will enable students to make evidence-based business decisions in academic and professional contexts. In addition, this subject will include Excel instruction, thereby addressing a valuable and in-demand digital literacy skill.

School Business

Discipline Econometrics

Student Contribution Band

Check your fees via the Fees page.

Level Undergraduate Level 1 subject

Equivalent Subjects ECON 1006

Assumed Knowledge

HSC Mathematics/Mathematics Extension 1 is desirable.

Learning Outcomes

After successful completion of this subject, students will be able to:

Apply analytical tools, both descriptive and inferential, to business decision-making.
Identify business problems and analytical techniques to support solutions.
Use data analysis software to analyse data for evidence.
Produce and interpret data visualisations to support business decisions.

Subject Content

Using evidence-based decision-making to solve business problems.
Gathering the evidence.
The characteristics of data.
Visualising evidence.
Analysing data for evidence 1: Probability and distribution.
Analysing data for evidence 2: Making inferences and testing hypotheses.
Identifying relationships in data.
Assessing alternatives and choice.
Evaluating impact.

Assessment

The following table summarises the standard assessment tasks for this subject. Please note this is a guide only. Assessment tasks are regularly updated, where there is a difference your Learning Guide takes precedence.