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Thread: Business & Economics Subject Review Thread

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    Re: Business & Economics Subject Review Thread

    Quote Originally Posted by ilikecats View Post
    It was multiple choice and case study.

    You are not given the questions before hand, bit you are given some general case information. The questions in this are most similar to the discussion forum ones, but they are by far the most difficult questions you'll get in the unit.
    Thanks a lot for your response

    Were they lenient with the marking? (The convenor for this semester is still Mark Stewart)

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    Re: Business & Economics Subject Review Thread

    Hi, I have a bit of time rn, so I m gonna make a few reviews for some units (mainly actuarial) I have done to help out future students. I will do reviews for the acst3xx units I took this semester later.

    Unit Code: ACST212
    Year and Semester Taken: 2016 S2
    Lecturer: Jim Farmer
    Tutor: Jim Farmer/Poon Leung
    Workload: Low
    Difficulty: Moderate to Difficult

    Assessment Breakdown:
    40% weekly quizzes over first 7 weeks
    60% finals

    Comments:
    A subject that is feared by many and should intellectually challenge you. This is the toughest acst2xx unit imo but still a step below acst3xx units as it doesn't have much content. This unit was run by the reputable Jim Farmer since 2002 bar 2003 and 2018. He enjoys torturing his students with his tough questions but is very experienced and is great at explaining concepts. Same goes for the legendary tutor, Poon, so make sure you attend the tutorials to clear up any confusions. Understanding the basics is key before you can tackle the harder questions.

    Historically, they only ask routine questions in quizzes, its the exams that you have to look out for. Try to accumulate as many marks as you can through quizzes as you only need a pass in this unit since fortunately this isn't an exemption unit.

    There are only around 2 things to remember per week, but don't be fooled, the questions they ask are not easy in the finals. In our year, there were only 19/100 marks that are straightforward in the finals. However, don't be intimidated, if you practice a lot, this unit is far from impossible. Make sure you expose yourself to a lot of relevant questions throughout the semester in preparation for the exams as cramming does not work for this unit. Time management is also important for the exams. If you do get stuck, take a deep breath and move onto the next question, come back to it if you have time in the end.


    Unit Code: ACST255
    Year and Semester Taken: 2017 S2
    Lecturer: Chong It Tan
    Tutor: Lachlan O'Hare
    Workload: Very Low
    Difficulty: Moderate to Difficult

    Assessment Breakdown:
    10% week 3 Class Test
    30% Mid-Sem Exam
    60% Final Exam

    Comments: An unit usually taught by Jim Farmer and David Pitt who is also another great lecturer. It is very tempting to slack off as there are usually so few assessments in this unit, which isn't a good thing.

    Only knowing the formulas is not sufficient to get credit+, you also need to understand how to apply the concepts/formulas to get exemption. The difficulty of deviations in this unit are nothing compared to acst3xx units and hence are mostly examinable. You only need basic statistical knowledge, common sense and basic algebraic manipulation skills to understand most proofs to understand most proofs in this unit. However, sometimes you just don't see that "trick" to prove something under exam conditions, but don't worry, as you don't need to ace proof questions unless you are aiming for 90+. Having a full understanding of the materials in the first few units is cruical as the later topics apply these fundamentals to solve problems.

    I mainly referred to Jim Farmer/Leonie's notes to learn the contents of this unit. Chong It although is new, is a very enthusiastic lecturer. We could see that he really cares about our learning experience and tries his best to inspire us. Lachlan will probably not tutor this unit again in the future but he was great at explaining concepts.

    For the first class test, Chong It gave too much time/too little questions. Most people were able to finish it in 20 mins when 45 mins were given and the average was 70%. The mid sem had too many questions and not even the top student could finish the paper, the average was 37% with top mark being 68% only. We were lucky that they scaled the unit a lot that year otherwise the exemption fail rate would be much higher.


    Unit Code: MKTG127
    Year and Semester Taken: 2017 S2
    Lecturer: Sisi Yang
    Tutor: Sisi Yang
    Workload: Extremely High
    Difficulty: Easy

    Assessment Breakdown:
    2 Assignments (20%, 25%) with two parts each, an essay component and an Excel component.
    Mid sem (15%)
    Finals (40%)

    Comments: Despite the content can be interesting, I found the assignments very easy but extremely tedious. I also dislike how they force you to memorise random facts in order to do well in tests/exams. Nevertheless, its a people unit that only requires rote learning so its definitely a GPA booster given that you have the patience to grind through the assignments.

    Attendance is not compulsory but I would recommend watching the lectures as the lecture notes can be stale without a voice going through them. I only went to tutorials to hand in assignments and collect assessments as they just read off the solutions for the tutes questions.

    I don't recall learning any transferable skills from this unit and I found the unit boring by the end of the sem. I just scraped a 85 for this unit which is very lucky considering all I did was identifying patterns in their past papers.
    Last edited by atang33; 7 Jul 2018 at 11:46 PM.
    pikachu975 likes this.

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    Re: Business & Economics Subject Review Thread

    Unit Code: ACST306
    Year and Semester Taken: 2018 S1
    Lecturer: Jiwook Jang
    Tutor: Barry Sun (Student Tutor)
    Workload: Very Low
    Difficulty: Difficult

    Assessment Breakdown:
    20% Assignment
    20% Mid Sem Exam with one A4 allowed
    60% Finals with one A4 allowed

    Comments: The assignment is basically free marks, around 75% of the class got 100% for it in my year. It asks straightforward questions and it is easy to eliminate any possible errors by checking with your classmates. You must look out for the exams as the gap between the lecture notes and exam questions is big. The lecture notes make this unit seems like an 100 level unit so don't be fooled. The tute questions will allow you to consolidate your understanding of the fundamentals before you are prepared to tackle past papers. The tutor usually just go through tute solutions in class which is provided after class anyway, so there's no reason to go unless you want to ask questions.

    There is a "trick" in almost every exam question and it is almost impossible to identify the trick without seeing the question being done before. Luckily, Jiwook usually recycles these tricks from previous years and he provides the solution to every past paper on iLearn. Some questions that might have similar wordings to questions from tutes/lecture notes but actually requires a different approach because the context is different. It can be tough uncovering the reasoning behind the "trick" in some past paper solutions as he does not provide very detailed explanations in the solutions.

    For some topics, he goes through a lot of example questions taken from past papers. The questions he shows in class is usually considered as trivial or easy-marks in exams and only require simple application of formulas. Therefore, make sure you can at least do those questions in exams to maximise your chance of getting an exemption for this subject. In my opinion and judging from the historical trend in marks, the mid sem is relatively harder than the finals. His lecture notes and tute questions seem to come directly from the recommended textbook. If you are really keen on topping the class, maybe you should have a look at the textbook.


    Unit Code: ACST356
    Year and Semester Taken: 2018 S1
    Lecturer: David Pitt (First Half)/Jackie Li (Second Half)
    Tutor: Jacie
    Workload: Low
    Difficulty: Difficult

    Assessment Breakdown:
    5% Assignment in Week 3
    15% Mid Sem Exam with one A4 allowed in Week 7
    10% Assignment in Week 12
    70% Finals with one A4 allowed

    Comments: The only unit out of the 3 acst units this sem that I kept somewhat up to date with. The content appealed to me because almost everything taught is accompanied with examples that can be related to a real-life scenario. The notes are comprehensive and are easy to follow. Both lecturers are engaging (especially David). I did not go to many tutes because the tute solutions provided are detailed enough.

    The first half of the unit is basically STAT272 revision + parameter estimation techniques which were mostly introduced in STAT271. The second half of the unit is all about applying the statistical materials from the first half. A big part of the second half investigates the distribution of the aggregate claim size (sum of all claims in a single policy over an unit of time).

    David commented that our mid-sem exam is the easiest paper he has written since he started teaching this unit (around 15 years ago), yet our results are disappointing (average mark is only 57%). I do agree that our mid sem paper is quite straightforward compared to the other 10 past mid sems I have done. The questions that are viewed as not straightforward often have a "special" starting point which is tough to identify unless you have seen a similar question before. In our finals, the questions are equally split between the 2 lecturers, i.e. David and Jackie wrote 50 marks each. Everyone found Jackie's part tough (especially Q6 and 7 for those interested) as the methods of approach to some questions are quite unconventional. As always, the best way to prepare for exams is to do past papers.


    Unit Code: ACST358
    Year and Semester Taken: 2018 S1
    Lecturer: Xian Zhou
    Tutor: Kenny Mok
    Workload: Low
    Difficulty: Difficult

    Assessment Breakdown:
    10% Take-Home Quiz
    30% Take-Home Mid-Sem
    60% Open Book Finals (Only hardcopy and no bags)

    Comments: The lecture notes are jampacked with technical language that can be hard to understand at times. The fact that Xian goes through the lecture notes at a blazing speed does not help either. He finished the entire course in 11 weeks. Luckily, you don't really need to understand every detail in the notes to be able to solve typical questions. Unlike 306 and 356, there isn't a big gap between the tutes and exams. The exam questions are actually quite similar to tute and mid sem questions. Therefore, you should focus more on learning how to do typical questions instead of spending too much time on the notes.

    I would recommend going to Kenny's tutorials as he is quite helpful, showing you the efficient and ideal approach to each question. The solution provided does not have much explanation so it is best to attend tutes. One problem I had with the earlier tutes is that the materials covered has not been covered in class yet. Therefore, it demotivated a lot of students from attending tutes (including me) as we would need to read ahead in order to attempt the tutes. I am not sure if this was true for later topics as I didn't attend any after Week 3 or so.

    The take-home quiz consisted of 8 MCQs, with negative marking in place to ensure that random guessing will yield 0 marks on average and we were given 2 days to complete it. They are tricky but the answers can all be found inside the lecture notes. The take-home midsem consisted of 8 MCQs + 4 long questions, we were given a week to complete it. The same negative marking system for the MCQs is in place for this assessment. The finals used to contain MCQs but they removed them since 2017 and placed them in the take-home midsem instead which makes the finals less frustrating to deal with.

    There is a trend of him recycling questions from previous finals in the finals paper but sadly the solutions to past finals are never released. Everything in this unit is quite computationally intensive, so writing and calculation speed are important in the finals. During the exam, I wrote as fast as I could, did not refer to my notes much, yet I left 4 marks blank and only had time to write the required expression to evaluate for some.

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