Faculty of Business and Economics

Monash University

Undergraduate - Unit

This unit entry is for students who completed this unit in 2015 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 3, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

FacultyFaculty of Business and Economics
Organisational UnitDepartment of Econometrics and Business Statistics
OfferedSouth Africa Second semester 2015 (Day)


The main aim of this unit is to provide a solid introductory background in probability theory to students wishing to pursue a career as an econometrician, but also to those who wants to do further studies in economics at post-graduate level.


The learning goals associated with this unit are to understand the concepts of:

  1. axiomatic probability theory (conditional probabilities)
  2. random variables (standard univariate discrete/continuous distributions)
  3. expected values and moments (moment generating functions)
  4. jointly distributed variates and Multivariate probability distributions
  5. distributions of functions of random variables
  6. sampling distributions
  7. estimation theory


Within semester assessment: 40%
Examination: 60%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

See also Unit timetable information

Chief examiner(s)