Etc2440 S1 2018

Unit Guide

ETC2440
Mathematics for economics and business
Semester 1, 2018

Handbook link:
http://monash.edu.au/pubs/2018handbooks/units/ETC2440.html
The information contained in this unit guide is correct at time of publication. The University has the
right to change any of the elements contained in this document at any time.
Last updated: 16 Feb 2018
Table of contents 1
ETC2440 Mathematics for economics and business - Semester 1 (S1-01) - 2018
Table of contents
Unit handbook information 4
Synopsis 4
Mode of delivery 4
Workload requirements 4
Additional workload requirements 4
Unit relationships 4
Prerequisites 4
Prohibitions 4
Co-requisites 4
Chief Examiner 5
Unit Coordinator(s) 5
Campus Lecturer(s) 5
Tutor(s) 5
Academic overview 5
Learning outcomes 6
Teaching approach 6
Recording of lectures 6
Unit schedule 7
Assessment summary 8
Second marking 8
Return of final marks 8
Exam viewing 8
Assessment criteria 8
Assessment requirements 9
Assessment tasks 9
Examination(s) 10
Extension and penalties 10
Returning assignments 11
Resubmission of assignments 11
Referencing requirements 11
Assignment submission 11
Feedback 11
Learning resources 12
Required resources 12
Technological requirements 12
2
Q Manual 12
Prescribed text and readings 12
Other information 13
Policies 13
Student Academic Integrity Policy 13
Special Consideration 13
Graduate Attributes Policy 13
Student Charter 13
Student Services 13
Monash University Library 13
Disability Support Services 14
3
Unit handbook information
Synopsis
This unit introduces mathematical techniques that are invaluable tools for econometrics,
economics, finance, and business. Topics covered include matrix algebra, linear simultaneous
equations and the LU decomposition, eigenvalues and the Schur decomposition, random vectors;
optimisation, including the Lagrange multiplier method, partial differentiation, multiple integration,
difference and differential equations. Some emphasis will be given to the use of computer
programs for performing matrix calculations.
Mode of delivery
Clayton (On-campus)
Workload requirements
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.
Additional workload requirements

This is a six credit point unit with four hours class contact per week over 12 teaching weeks except
that there will be no tutorial in week 1. The total time commitment expected for this unit is 156
hours. In order to meet the faculty’s expectation, students should plan to spend on average eight
hours in self-directed study, in addition to the four hours of class contact, each week.
Unit relationships

Prerequisites
Students must have passed ETC1000 or equivalent or be enrolled in course B6001 or B6014.
Prohibitions
ETF2700, ECC2440. Students are also prohibited from enrolling in ETC2440 if they have passed
both MTH2010 and MTH2021.
Co-requisites
None
4
Chief Examiner
Name: Mr John Stapleton
Campus: Clayton
Phone: +61 3 990 52348
Email: [email protected]
Unit Coordinator(s)
Campus: Clayton
Phone: 9905-2348
Campus Lecturer(s)
Campus: Clayton
Phone: +61 3 990 52348

Name: Dr Dan Zhu
Campus: Clayton
Phone: +61 3 990 52496
Tutor(s)
Name: Ms Kanchana Nadarajah
Campus: Clayton
Phone:

Name: Dr Elena Sanina
Campus: Clayton
Phone:

Name: Mr Ravee Menon
Campus: Clayton
Phone:
Academic overview
5
Academic overview
Learning outcomes
The learning goals associated with this unit are to:
1. provide a practical training in basic mathematics needed for the study of econometrics
2. examine the calculus of many variables and its application in econometrics and business
statistics
3. introduce matrix algebra
4. provide a training in the use of mathematical software.
Teaching approach
The teaching approach used in this unit is a mixture of lectures, tutorials and peer assisted
learning.

Recording of lectures
This unit will have lectures (or seminars in the absence of lectures) recorded. These recordings will
be available to current students. If there is more than one seminar or lecture stream, the Chief
Examiner may decide not to record each stream. In the event that there is an equipment failure
and the lecture is not recorded in part or in full, no alternative recording will be provided. The Chief
Examiner may determine a part or parts of lectures (or seminars) unsuitable for recording.
6
Unit schedule
For units with on-campus classes, teaching activities are normally scheduled to start on the hour
(teaching will commence on the hour and conclude 10 minutes prior to the scheduled end time).
Students should note that the program outlined below is a guide to the material to be covered in
this unit and not a definitive statement of when that material will be covered. Specific details
relating to the timing will be discussed in class.
Unit Schedule
Week Activities Assessment
0 No formal assessment or activities are undertaken in

week 0
1 matrix algebra Learning activity 1
4 sets, functions Learning activity 4

sequences
5 sets, functions Learning activity 5 and Group Assignment 1 due

sequences
6 sets, functions Learning activity 6

sequences
7 continuous functions Learning activity 7
8 differentiable Learning activity 8

functions
9 unconstrained Learning activity 9 and Group Assignment 2 due

optimization theory
10 constrained Learning activity 10

optimization theory
11 constrained Learning activity 11

optimization theory
12 elementary integration Learning activity 12 and Group Assignment 3 due
SWOT VAC No formal assessment is undertaken SWOT VAC
Examination period LINK to Assessment Policy:http://policy.monash.edu.au

/policy-bank/
academic/education/assessment/
assessment-in-coursework-policy.html

7
Assessment summary
Within semester assessment: 40% + Examination: 60%
Assessment task Value Due date
Group Assignment 1 11% Week 5
Participation in 5% Participation in learning activities will be assessed each week

learning activities from week 2 to week 12.
Examination 60% To be advised
A student’s final mark is normally the sum of the marks obtained in all of the individual assessment
items in the unit.
Second marking
Where an assessment task is given a fail grade by an examiner, that piece of work will be marked
again by a second examiner who will independently evaluate the work, and consult with the first
marker. No student will be awarded a fail grade for an assessment task or unit without a second
examiner confirming the result.
Note: Exceptions to this are individual pieces of assessment contributing 10% or less of the final
mark, unless the total of such pieces exceeds 30% of the final mark.
Return of final marks

Faculty policy states that 'the final mark that a student receives for a unit will be determined by the
Board of Examiners taking into account all aspects of assessment'.
The final mark for this unit will be released by the Board of Examiners on the date nominated in the
Faculty Calendar. Student results will be accessible through the my.monash portal.
Exam viewing
Feedback on student performance in examinations and other end-of-semester assessment is
required. The feedback should be in accordance with the University's procedures on Unit
Assessment. Details of the examination script viewing arrangements set down by the Faculty of
Business and Economics are available at https://www.monash.edu/business/current-students
/admin-information/policies-and-procedures/examination-feedback-procedure
Assessment criteria
Full details relating to the assessment requirements for this unit are available on Moodle and will
be discussed in class on Day One.
8
Assessment Criteria Grading Descriptors available at:
https://www.monash.edu/__data/assets/pdf_file/0006/801690/Assessment-in-Coursework-Units-
Grading-and-Marking-Procedures.pdf
Assessment requirements
Assessment tasks
Assessment task title: Group Assignment 1

Due Date: Week 5
Weighting/Value: 11%
Details of Task: Problem set
Release date: Week 3
Word limit: None
Presentation requirements: To be advised
Estimated return date: Week 7
Hurdle requirements: None
Criteria for marking: Marks will be awarded based on the clarity and correctness of answers.

Learning objectives assessed: Understanding of matrix algebra
Submission details: To be advised
Penalties for late lodgement: There is a penalty of 5% per day for the late submission of Group
Assignment 1.
Assessment coversheet: Faculty assignment cover sheet required.
Additional information: None

Due Date: Week 9
Word limit: None
Estimated return date: Week 11
Criteria for marking: Marks will be awarded based on the clarity and correctness of answers.
Learning objectives assessed: Understanding of real analysis
Submission details: To be advised
Assignment 2.
Assessment coversheet: Faculty assignment cover sheet required.

9
Due Date: Week 12
Word limit: None
Estimated return date: To be advised
Criteria for marking: Marks will be awarded based on the clarity and correctness of answers
Learning objectives assessed: Understanding of optimization theory
Submission details: To be advised.
Assignment 3.
Assessment coversheet: Faculty assignment coversheet is required
Assessment task title: Participation in learning activities

Due Date: Participation in learning activities will be assessed each week from week 2 to week 12.
Weighting/Value: 5%
Details of Task: To be advised.
Release date: Not applicable.
Word limit: Not applicable .
Presentation requirements: Not applicable .
Estimated return date: Not applicable.
Hurdle requirements: Not applicable.
Criteria for marking: Not applicable.
Learning objectives assessed: Not applicable.
Submission details: Not applicable.
Penalties for late lodgement: Not applicable.
Assessment coversheet: Not applicable.
Examination(s)
Title: Examination
Weighting: 60%
Length: 2 hours
Type (open/closed book): Closed book
Hurdle requirements (where applicable): In order to pass this unit it is necessary to receive a mark
of at least 50% in the final exam. If a student fails the unit solely because of this hurdle
requirement, a mark of 48% will be returned for the unit.
Electronic devices allowed in the exam: The only Faculty approved calculator permitted in tests
and examinations for all Australian campuses and locations is the HP10bII+
Exam details: To be advised.
Extension and penalties 10

Extension and penalties
Applications for extensions for assignments must be made directly to the chief examiner.
Returning assignments
Assignments will be returned to students by their tutor.
Resubmission of assignments
Resubmission of assignments, in whole or in part, is not permitted.
Referencing requirements
To build your skills in citing and referencing, and using different referencing styles, see the online
tutorial Academic Integrity: Demystifying Citing and Referencing at http://www.lib.monash.edu
/tutorials/citing/
Assignment submission
Online Submission:
If Electronic Submission has been approved for your unit, please submit your work via the Moodle
site or other; as directed by your tutor for this unit.
Please keep a copy of tasks completed for your records.
Online submission of assignments is not permitted for this unit.
Feedback
Our feedback to you
Types of feedback you can expect to receive in this unit are:
● Formal individual feedback on assignments expressed as a letter grade

● Answers to ask questions relating to the discipline or the unit’s work
● Advice about seeking additional help to develop your writing or research skills
● Informal feedback relating to class activities
Your feedback to us
One of the formal ways students have to provide feedback on teaching and their learning
experience is through the Student Evaluation of Teaching and Units (SETU) survey. The feedback
is anonymous and provides the Faculty with evidence of aspects that students are satisfied with
11
is anonymous and provides the Faculty with evidence of aspects that students are satisfied with
and areas for improvement.
Previous student evaluations of this unit
In response to previous SETU results of this unit, the following changes have been made:
Two long assignments have been replaced by three shorter assignments.
If you wish to view how previous students rated this unit, please go to
https://unitevaluations.connect.monash.edu.au/unitevaluations/index.jsp
Learning resources
Monash Library Unit Reading List (if applicable to the unit): http://monash.rl.talis.com/index.html
Research and Learning Online: www.monash.edu/rlo
Required resources
Students generally must be able to complete the requirements of their course without the
imposition of fees that are additional to the student contribution amount or tuition fees. However,
students may be charged certain incidental fees or be expected to make certain purchases to
support their study. For more information about this, refer to the Higher Education Administrative
Information for Providers, Chapter 18, Incidental Fees at http://education.gov.au/help-resources-
providers
Not applicable
Technological requirements
Virtual learning environment (VLE): Moodle
Material used in class together with other information of importance to you will be published online
via the unit’s Moodle site. In order to access information about this unit in Moodle you must be
enrolled in the unit and have a valid student account with authcate username and password.
Moodle can be accessed through my.monash portal by clicking on the Moodle link under “Online
systems”. If you need some help with Moodle then check out the Moodle Support for Students
page.
Q Manual
Work submitted for assessment must be consistent with the guidelines set down in the Q Manual,
which is the faculty's student guide for producing quality work on time. Copies of this manual can
be purchased at the bookshop or accessed online at http://business.monash.edu/students/study-
resources/related/components/qmanual.pdf
Prescribed text and readings

[CW] Alpha C. Chiang and Kevin Wainwright (2005), Fundamental Methods of Mathematical
Economics, 4th edition, McGraw-Hill.
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Other information
Policies
Monash has educational policies, procedures and guidelines, which are designed to ensure that
staff and students are aware of the University's academic standards, and to provide advice on how
they might uphold them. You can find Monash's Education Policies at:
http://www.policy.monash.edu/policy-bank/academic/education/index.html
Student Academic Integrity Policy

www.monash.edu/__data/assets/pdf_file/0004/801841/Student-Academic-Integrity-Policy.pdf
Special Consideration
For information on applying for special consideration, please visit: http://www.monash.edu/exams
/changes/special-consideration
Graduate Attributes Policy

http://www.monash.edu/policy-bank/academic/education/course-governance-and-design/course-
design-policy
Student Charter
www.monash.edu/students/policies/student-charter.html
Student Services
The University provides many different kinds of services to help you gain the most from your
studies. Contact your tutor if you need advice and see the range of services available at www.
monash.edu/students
You can also access important information from the Faculty of Business and Economics current
students page http://www.buseco.monash.edu.au/student/
English Connect provide services to improve and develop your language skills with workshops and
programs, including online English Connect Grammar Resources, Let’s Chat conversational and
oral skills group sessions, workshops on oral presentation and public speaking skills (Speaking
with Confidence) and grammar for academic English (Polish Up Your Grammar). Peer Support
(one on one service) runs out of the Library and is to assist you with written assignments. You can
register or gain more information at http://www.monash.edu/english-connect
Monash University Library

13
The Monash University Library provides a range of services, resources and programs that enable
you to save time and be more effective in your learning and research.
Go to http://www.monash.edu/library or the library tab in my.monash portal for more information.
Disability Support Services

Students who have a disability, ongoing medical or mental health condition are welcome to contact
Disability Support Services.
Disability Support Services also support students who are carers of a person who is aged and frail
or has a disability, medical condition or mental health condition.
Disability Advisers visit all Victorian campuses on a regular basis.
● Website: monash.edu/disability
● Email: [email protected]

Copyright © Monash University 2018. All rights reserved. Except as provided in the Copyright Act 1968, this work may
not be reproduced in any form without the written permission of the host Faculty and School/Department.
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Last updated: 16 Feb 2018

Additional workload requirements

Week Activities Assessment

0 No formal assessment or activities are undertaken in

1 matrix algebra Learning activity 1

2 matrix algebra Learning activity 2

3 matrix algebra Learning activity 3

4 sets, functions Learning activity 4

5 sets, functions Learning activity 5 and Group Assignment 1 due

6 sets, functions Learning activity 6

7 continuous functions Learning activity 7

8 differentiable Learning activity 8

9 unconstrained Learning activity 9 and Group Assignment 2 due

10 constrained Learning activity 10

11 constrained Learning activity 11

12 elementary integration Learning activity 12 and Group Assignment 3 due

SWOT VAC No formal assessment is undertaken SWOT VAC

Examination period LINK to Assessment Policy:http://policy.monash.edu.au

Assessment task Value Due date

Group Assignment 1 11% Week 5

Group Assignment 2 12% Week 9

Group Assignment 3 12% Week 12

Participation in 5% Participation in learning activities will be assessed each week

Examination 60% To be advised

Return of final marks

Assessment task title: Group Assignment 1

Assessment task title: Group Assignment 2

Assessment task title: Group Assignment 3

Assessment task title: Participation in learning activities

Extension and penalties 10

Please keep a copy of tasks completed for your records.

Online submission of assignments is not permitted for this unit.

Types of feedback you can expect to receive in this unit are:

● Formal individual feedback on assignments expressed as a letter grade

Previous student evaluations of this unit

Two long assignments have been replaced by three shorter assignments.

Prescribed text and readings

Student Academic Integrity Policy

Graduate Attributes Policy

Monash University Library

Disability Support Services

Disability Advisers visit all Victorian campuses on a regular basis.

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