ETF5970 Mathematics for business
Faculty of Business and Economics
ETF5970 Mathematics for business is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2026 in Semester 1 and Semester 2 at Caulfield. It has no prerequisites.
- Credit points
- 6
- Offered in 2026
- Semester 1, Semester 2
- Caulfield
- Assessment
- Exam 60%
- and 2 other tasks
- Workload
- 144 hours
- per semester
This is the 2026 handbook entry. See the 2027 entry.
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Requisites
Before ETF5970
Prohibitions
You can't enrol if you have passed any of these.
After ETF5970
No unit lists ETF5970 as a prerequisite in the 2026 handbook.
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.
Offerings in 2026
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | Blended |
| Second semester | Caulfield | Blended |
Assessment
- Quiz / Test25%
- Written15%
- Examination60%
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
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 business
- 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), basic matrix operations, and apply them to understand and solve problems in business.
Workload and teaching
- Tutorials12 hours
- Seminars24 hours
- Workshops12 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. 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 actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Learning resources
Required resources
1. Mavron, Vassilis C. and Phillips, Timothy N. (2007). Elements of Mathematics for Economics and Finance, 1st edition, Springer.
2. Jacques, Ian (2023). Mathematics for Economics and Business, 10th edition, Pearson.
Both are available online from the Monash University Library.
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
ETF5970 is part of 1 area of study in the 2026 handbook.
Contacts
- Chief Examiners
- Professor Mervyn Silvapulle
- Professor Param Silvapulle
Common questions
What are the prerequisites for ETF5970?
ETF5970 has no prerequisites.
When is ETF5970 offered?
In 2026, ETF5970 runs in Semester 1 and Semester 2 at Caulfield.
How much work is ETF5970?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ETF5970 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 2 other tasks.
Which majors and minors include ETF5970?
ETF5970 is part of Data analytics for business.