ECC1550 Introductory mathematics for business and economics
Faculty of Business and Economics
ECC1550 Introductory mathematics for business and economics is a level 1, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2024 in Semester 1 and Semester 2 at Clayton. It has no prerequisites.
- Credit points
- 6
- Offered in 2024
- Semester 1, Semester 2
- Clayton
- Assessment
- Exam 25%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2024 handbook entry. See the 2027 entry.
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Overview
Decision-making in business and economics often involves making the best possible choice out of what is feasible given the prevailing constraints. This unit introduces the key mathematical tools and techniques for formulating and solving unconstrained and constrained optimization problems. It covers the basic concepts of sets, relations, and functions, single-variable and multi-variable differential calculus, and primarily focuses on developing the capacity to utilize calculus to solve optimization problems and interpret the solutions.
Offerings in 2024
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Clayton | On campus |
| Second semester | Clayton | On campus |
Assessment
- Within semester assessment75%
- Examination25%
Learning outcomes
When you finish this unit, you should be able to:
- 1
graphically represent the relationship between two variables
- 2
distinguish the key features of power functions, polynomial functions, exponential functions, and logarithmic functions
- 3
distinguish the key features of single-variable and multi-variable real-valued functions
- 4
utilise basic rules of calculus to find and interpret the derivatives of a single-variable and multi-variable functions
- 5
formulate and solve simple unconstrained and constrained optimization problems.
Workload and teaching
- Workshops48 hours
- Teaching approachEnquiry-based learning
- Teaching approachActive learning
- Teaching approachProblem-based learning
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. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
This unit engages you in enquiry-based learning, where you will be encouraged to use your own knowledge to develop and engage in a process of enquiry, study and research to identify areas to be investigated and an approach to doing so.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.
Contacts
- Chief Examiners
- Dr Birendra Rai
Common questions
What are the prerequisites for ECC1550?
ECC1550 has no prerequisites.
When is ECC1550 offered?
In 2024, ECC1550 runs in Semester 1 and Semester 2 at Clayton.
How much work is ECC1550?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECC1550 have an exam?
Yes. The exam is worth 25% of the final mark, alongside 1 other task.