ETF2700 - Mathematics for business

Leader: Professor Param Silvapulle

Offered

Caulfield Second semester 2007 (Day)

Synopsis

The topics covered in this unit include: The Linear model, Linear Simultaneous Equations, Non-linear functions, Financial mathematics, Derivatives and Partial Differentiation, Optimisation (constrained and non-constrained), Matrix Algebra and Difference Equations.

Objectives

The learning objectives of this unit are to:

• acquire skills in solving equations and applying them to problems arising in business;
• understand the features of linear and nonlinear models and their applications in economics, finance and business;
• solve two and three dimensional simultaneous equations, with applications in areas including operations management;
• work with arithmetic and geometric sequences and series and use them in financial applications;
• develop skills to perform differentiation, optimisation (constrained and unconstrained) and basic matrix operations and apply them to understand and solve problems in business.

Assessment

Assignments: 20%
Mid-semester test: 20%
Final Examination (2 hours): 60%

Contact hours

3 contact hours per week.

Prerequisites

ETX1100 or equivalent