ETF2700 Mathematics for business
Faculty of Business and Economics
ETF2700 Mathematics for business is a level 2, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2023 in Semester 1 and Semester 2 at Caulfield. It has no prerequisites.
- Credit points
- 6
- Offered in 2023
- Semester 1, Semester 2
- Caulfield
- Assessment
- Exam 120%
- and 2 other tasks
- Workload
- 144 hours
- per semester
This is the 2023 handbook entry. See the 2027 entry.
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Requisites
Before ETF2700
Prohibitions
You can't enrol if you have passed any of these.
After ETF2700
No unit lists ETF2700 as a prerequisite in the 2023 handbook.
Enrolment rules
To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 12 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.
Equivalent units
The same content under another code. Only one of them counts.
Overview
The topics covered in this unit include: the linear model, linear simultaneous equations, non-linear functions, index numbers, financial mathematics, derivatives and partial differentiation, integration optimisation (constrained and non-constrained) and matrix algebra with software applications (e.g. Excel).
Offerings in 2023
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | On campus |
| Second semester | Caulfield | On campus |
Assessment
- Within semester assessment40%
- ExaminationThreshold hurdle60%
- Within semester assessment40%
- Examination60%
Learning outcomes
When you finish this unit, you should be able to:
- 1
acquire skills in solving equations and applying them to problems arising in business
- 2
understand the features of linear and non-linear models and their applications in economics, finance and business
- 3
solve two and three dimensional simultaneous equations, with applications in areas including operations management
- 4
work with arithmetic and geometric sequences and series and use them in financial applications
- 5
develop skills to perform differentiation, optimisation (constrained and unconstrained) and basic matrix operations and apply them to understand and solve problems in business.
Workload and teaching
- Tutorials18 hours
- Lectures24 hours
- 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. 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.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Learning resources
Required resources
Akihito, Asano (2013). An introduction to mathematics for economics. Cambridge University Press, 2013. https://www-cambridge-org.ezproxy.lib.monash.edu.au/core/books/an-introduction-to-mathematics-for-economics/B1F96DE765865757007BF47B06A0945D
Bradley, T.(2015). Essential Mathematics for Economics and Business , Fourth edition. John Wiley, 2013. ISBN 978-1-118-35829-0
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
ETF2700 is part of 2 areas of study in the 2023 handbook.
Contacts
- Chief Examiners
- Professor Xibin Zhang
Common questions
What are the prerequisites for ETF2700?
ETF2700 has no prerequisites, but enrolment rules apply.
When is ETF2700 offered?
In 2023, ETF2700 runs in Semester 1 and Semester 2 at Caulfield.
How much work is ETF2700?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ETF2700 have an exam?
Yes. The exam is worth 120% of the final mark, alongside 3 other tasks.
Which majors and minors include ETF2700?
ETF2700 is part of Business analytics and statistics.