Monash College Unit Guide

INTRODUCTORY MATHEMATICS FOR BUSINESS (MCD1550)

Purpose

The aim of this unit is to provide students with the knowledge and skills to make effective use of mathematical ideas, techniques and processes in both business and everyday life.

Prerequisites

It is recommended that students have studied year 11 (or equivalent) mathematics.

Learning outcomes

On completion of this unit, students should be able to:

1. Demonstrate knowledge of key features of straight line and line segment graphs and the form of related tables of values.
2. Demonstrate knowledge of the concept of break even analysis and its relation to graphic and tabular representation of relations.
3. Demonstrate knowledge of non-linear relations in terms of a constant of proportionality and key features.
4. Demonstrate knowledge of linear inequalities, systems of linear inequalities and their properties.
5. Demonstrate knowledge of terms, concepts and definitions associated with simple interest, growth and decay in financial contexts and reducing balance loans, and formulas and calculations associated with these.
6. Demonstrate knowledge of matrix properties. Solve data array problems and simultaneous linear equations in two and three variables using matrix formulations.

Assessment

Assessment task 1 (class or on-line test(s), comprising multiple choice and short answer questions): 20%*

Assessment task 2 (class or on-line test(s) comprising multiple choice and short answer questions): 20%*

Examination (closed book 3 hour exam): 60%

* On-line testing would comprise no more than 15% of total assessment. A scientific or graphics calculator will be allowed for all assessments.

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