Units / ECC1550
ECC1550 · Introductory mathematics for business and economics
2027 Handbook6 credit pointsLevel 1Department of Economics
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
| Campus | Teaching period | Mode |
|---|---|---|
| Clayton | Second semester | Teaching activities are on-campus (ON-CAMPUS) |
| Clayton | First semester | Teaching activities are on-campus (ON-CAMPUS) |
Assessment
The Handbook lists an examination for this unit.
| # | Assessment | Type | Weight | Hurdle |
|---|---|---|---|---|
| 1 | 1 - Quiz / Test | Quiz / Test | 20% | — |
| 2 | 2 - Written | Written | 40% | — |
| 3 | 3 - Examination | Examination | 40% | — |
Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.
Requisites
The Handbook lists no prerequisite, corequisite or prohibition for this unit.
Learning outcomes
- graphically represent the relationship between two variables
- distinguish the key features of power functions, polynomial functions, exponential functions, and logarithmic functions
- distinguish the key features of single-variable and multi-variable real-valued functions
- utilise basic rules of calculus to find and interpret the derivatives of a single-variable and multi-variable functions
- formulate and solve simple unconstrained and constrained optimization problems.
Workload
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.
| Activity | Duration |
|---|---|
| Workshops | 24 hours |
| Workshops | 22 hours |
| Applied sessions | 12 hours |
| Assessments | 2 hours |
| Assessments | 2 hours |
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