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UnitLevel 2Undergraduate

ETC2440 Mathematics for economics and business

Faculty of Business and Economics

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ETC2440 Mathematics for economics and business is a level 2, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2026 in Semester 1 at Clayton. It needs ETB1100, ETC1000, ETF1100, ETW1001, FIT1006, SCI1020, STA1010 or ETX1100 and unlocks 6 units, leading on to 32 units in all.

Credit points
6
Offered in 2026
Semester 1
Clayton
Assessment
Exam 60%
and 1 other task
Workload
144 hours
per semester

This is the 2026 handbook entry. See the 2027 entry.

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Requisites

Before ETC2440

Prohibitions

You can't enrol if you have passed any of these.

Prerequisites

Pass these before you enrol.

One of

After ETC2440

6 units list ETC2440 as a prerequisite or corequisite.

Enrolment rules

If you are enrolled in course B6001, B6014 or B6030, there is no prerequisite.

To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 12 Higher level.  You may have satisfied this by completing relevant prerequisite unit/s, or you have covered relevant topics in your final years of secondary study.  You should self-assess your maths competency prior to enrolling in this unit.

Overview

This unit introduces you to mathematical techniques that are widely used in the disciplines of economics, econometrics, finance and actuarial science. Topics covered include matrix algebra, sets, sequences and functions, multivariate calculus, elementary real analysis and stochastic processes.

Offerings in 2026

Teaching periodCampusMode
First semesterClaytonBlended

Assessment

  • Written
    40%
  • Examination
    60%

Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.

Learning outcomes

When you finish this unit, you should be able to:

  1. 1

    perform a variety of algebraic operations using vectors and matrices

  2. 2

    derive the eigenvalues and associated eigenvectors of a square matrix

  3. 3

    understand a variety of set-theoretic concepts, such as open and closed sets

  4. 4

    derive from first principles the limit of a sequence of real numbers

  5. 5

    differentiate and integrate functions of several variables

  6. 6

    understand the properties of stochastic processes and how to conduct statistical analysis

Workload and teaching

  • Tutorials12 hours
  • Workshops12 hours
  • Seminars24 hours
  • Teaching approachProblem-based learning
  • Teaching approachActive 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 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.

This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.  

Learning resources

Technology resources

There may be an additional cost associated with purchasing a physical and/or virtual calculator. Specific details will be provided in the Learning Management System by commencement of Orientation week.

Where it fits

ETC2440 is part of 6 areas of study in the 2026 handbook.

Contacts

Chief Examiners
Dr Julia Polak

Common questions

What are the prerequisites for ETC2440?

You need ETB1100, ETC1000, ETF1100, ETW1001, FIT1006, SCI1020, STA1010 or ETX1100 before you enrol. Enrolment rules also apply.

What can I take after ETC2440?

ETC2440 is a prerequisite or corequisite for 6 units, including ETC3420, ETC3430, ETC3520, MTH2051, MTH3140 and MTH3330. Those lead on to 32 units in all.

When is ETC2440 offered?

In 2026, ETC2440 runs in Semester 1 at Clayton.

How much work is ETC2440?

The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.

Does ETC2440 have an exam?

Yes. The exam is worth 60% of the final mark, alongside 1 other task.

Which majors and minors include ETC2440?

ETC2440 is part of Actuarial studies; Econometrics; Mathematical economics and econometrics; and Mathematical foundations of econometrics.

More details

Credit points
6
Level
2
Study level
Undergraduate
Faculty
Faculty of Business and Economics
Organisational unit
Department of Econometrics and Business Statistics
Type
Coursework
EFTSL
0.125
Student contribution
SCA Band 1
Study abroad
Available
Handbook years
20202021202220232024202520262027