ECON20003 Quantitative Methods 2
University of Melbourne · Level 2 · 12.5 points · Runs in 2026: Summer, Semester 1, Semester 2.
- Final exam 50%
- 30% group work
Is ECON20003 hard?
ECON20003: Harder. Not counted by Bachelor of Science, so it isn't on its lists. Makes it harder: Reviewers say it takes a lot of time, You must pass the exam on its own.
What you learn
Statistics and analytics tools for business problems, done in software with reproducible analysis.
After it you can
- Model relationships between business variables
- Check a model's assumptions and limits
- Explain statistical findings to others
What you need first
ECON10005 or MAST10010 or MAST10011 or MAST20004 or MAST20006
- ECON10005 Quantitative Methods 1
- MAST10010 Data Analysis
- MAST20004 Probability
- MAST20006 Probability for Statistics
What it leads to
- ECOM30001 Basic Econometrics
- ECOM30002 Econometrics 2
- ECON30002 Economic Development
- ECON30006 Labour Economics
- ECON30023 Health Economics
- ECON30024 Economics of Financial Markets
- ECON30025 Computational Economics and Business
- ECON30030 Topics in Asian Economic History
- FNCE30001 Investments
- FNCE30003 International Finance
- FNCE30006 Entrepreneurial Finance
- FNCE30007 Derivative Securities
- FNCE30010 Algorithmic Trading
- FNCE30011 Essentials of Corporate Valuation
- FNCE30014 Machine Learning in Finance
- MGMT30020 Analytics for Supply Chain & Operations
- MKTG30014 Data Driven Marketing
Careers
Helps toward: Economist
How it’s assessed
Assignments 30%, Tests 10%, Participation 10%, Final exam 50%
Student reviews and ratings
Summarised from 10 students on StudentVIP (2012–2023)
- Uses statistical software (formerly EViews, more recently R), which several found painful or not very relevant to the exam.
- Frequent assignments and quizzes take a lot of time for little weight, but the final exam was described as fair and similar to practice papers.
- Keeping up with lectures and doing past papers is the main advice; opinions on lecture quality are split.
A summary of public reviews, not scored here.
Taken this subject? Rate it anonymously (difficulty, workload, marking, would you recommend it) and leave a tip for next year's students. Rate ECON20003
Quick answers
- When is ECON20003 offered?
- Runs in 2026: Summer, Semester 1, Semester 2.
- What do I need before taking ECON20003?
- Needs ECON10005 or MAST10010 or MAST10011 or MAST20004 or MAST20006.
- Does ECON20003 have a final exam?
- Yes, the final exam is 50% of the mark. You must pass the exam on its own. Assessment: Assignments 30%, Tests 10%, Participation 10%, Final exam 50%.
- Is ECON20003 hard?
- From 10 student reviews on StudentVIP: Uses statistical software (formerly EViews, more recently R), which several found painful or not very relevant to the exam.
- What do students say about ECON20003?
- Uses statistical software (formerly EViews, more recently R), which several found painful or not very relevant to the exam. Frequent assignments and quizzes take a lot of time for little weight, but the final exam was described as fair and similar to practice papers. Keeping up with lectures and doing past papers is the main advice; opinions on lecture quality are split.
- Can I take ECON20003 as breadth?
- Yes, for: Bachelor of Arts, Bachelor of Design, Bachelor of Fine Arts (Acting), Bachelor of Fine Arts (Animation), Bachelor of Fine Arts (Dance), Bachelor of Fine Arts (Film and Television), Bachelor of Fine Arts (Music Theatre), Bachelor of Fine Arts (Production), Bachelor of Fine Arts (Screenwriting), Bachelor of Fine Arts (Theatre), Bachelor of Fine Arts (Visual Art), Bachelor of Music.
- What can I take after ECON20003?
- 17 subjects need it first, for example ECOM30001, ECOM30002, ECON30002, ECON30006.
- Can I rate ECON20003?
- Yes. If you've taken it, rate it anonymously on this page (difficulty, workload, marking, would you recommend it) and leave a tip for next year's students. Averages show once 3 students have rated it; tips are checked before they appear.
Source: University of Melbourne Handbook 2026
Always confirm in the official Handbook.
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