ECON1202 Course Outline S2 2018

UNSW Business School
Course Outline
ECON1202 Quantitative Analysis for Business and

Economics - 2018
Study Level Semester UOC Delivery Mode School
Undergraduate Semester 2 6 Units of Credit On Campus Economics
1. Course Details
Summary of Course
Mathematics is an important part of theoretical and applied analysis in economics and business. This
course equips students with a working knowledge of the most common techniques, providing the basis
for their further studies. Topics include the mathematics of finance, matrix algebra, linear programming,
as well as calculus and (unconstrained and constrained) optimisation. Special emphasis is put on the
illustration of the covered concepts and techniques with applications to typical problems in business and
economics.
Teaching Times and Locations

Please note that teaching times and locations are subject to change. Students are strongly advised to
refer to the Class Timetable website for the most up-to-date teaching times and locations.
View course timetable
Course Policies & Support

The Business School expects that you are familiar with the contents of this course outline and the UNSW
and Business School learning expectations, rules, policies and support services as listed below:
Program Learning Goals and Outcomes
Academic Integrity and Plagiarism
Student Responsibilities and Conduct
Special Consideration
Protocol for Viewing Final Exam Scripts
Student Learning Support Services
View course Policies and Support
business.unsw.edu.au - CRICOS Code 00098G Created: 20/7/2018 1 of 24

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Course Aims and Relationship to Other Courses
This course is offered as part of the first year core in the Bachelor of Economics degrees. For students in
the Bachelor of Commerce program, it is not part of the 1st year core BUT it is a prerequisite for most 2nd
year economics courses, so it is strongly recommended for those contemplating one of the economics
majors.
It aims to give students a good insight and understanding of how mathematical concepts, theories and
techniques are applied to the fields of business, economics and the social sciences in order to generate
solutions to problems encountered in these fields. In this course we build on mathematical knowledge
which you should have gained in high school. The course content constitutes the minimum mathematical
knowledge and skills that graduates from the Faculty should possess in order to be effective in their later
studies at UNSW, and in the world of work.
After completing QABE, your use of mathematics and statistics in your studies will vary depending on the
major(s) you choose. If you choose majors such as Economics, Business Economics, Financial
Economics and Econometrics you will study further courses in econometrics. These majors are designed
to equip students with statistical and other quantitative skills that are widely used and increasingly
demanded by employers in commercial fields and the public sector. If you choose other majors where
quantitative skills are needed, such as Accounting, Finance and Marketing, a good understanding of
concepts taught in QABE will be a major asset.
The aims of this course are for you to:
Gain experience in areas which every business person needs such as problem solving and using a
spreadsheet;
Develop your ability to perform calculations;
Develop your ability to solve real life business problems using formal mathematical tools and
algorithms;
Extend your skills in analysis, oral and written communication.
Presumed Knowledge
The Business School has an assumed knowledge requirement that students entering the BCom and BEc
are expected to be familiar with HSC Mathematics. Therefore, in this course we will base lectures on a
prior knowledge of HSC Mathematics and this assumed knowledge will not be covered or revised as part
of the lectures or tutorials.
If you have not studied HSC mathematics in New South Wales, knowledge of the following topics is
essential: basic functions and graphs including logarithms and exponentials and solutions of linear and
quadratic equations. If you have not studied any or all of these topics previously at an appropriate level of
mathematics at high school, remedial work will be necessary.
A short quiz has been designed to give you an evaluation of your mathematics skills. The quiz is available
on the course website and students must attempt the quiz in order to get full access to the site. More
importantly, the quiz provides an indication of whether you do in fact have a good grasp of the assumed
knowledge in mathematics. Students with the appropriate background will find the quiz straightforward. If
this is not the case and you feel you require some assistance then there are at least two options. You may
wish to engage in some self-study in which case we recommend you purchase the following book
available at the UNSW bookshop: Managing Mathematics: A Refresher Course for Economics and
Commerce Students by Judith Watson, 2nd edition, 2002. Alternatively, UNSW in conjunction with
Randwick TAFE, is offering a course, Essential Mathematics for Higher Education, that will provide
instruction in the required mathematics. For further details go to the TAFE website .

Student Learning Outcomes
The Course Learning Outcomes (CLOs) are what you should be able to demonstrate by the end of this
course, if you participate fully in learning activities and successfully complete the assessment items.
CLOs also contribute to your achievement of the Program Learning Outcomes (PLOs), which are
developed across the duration of a program for all coursework students in the Business School. More
information on PLOs is available under Policies and Support . PLOs are, in turn, directly linked to UNSW
graduate capabilities and the aspiration to develop “globally focussed graduates who are rigorous
scholars, capable of leadership and professional practice in an international community”.
The following table shows how the CLOs for this course relate to the overall PLOs and indicates where
each CLO and PLO is assessed:
Course Learning Outcomes Program Learning Course Assessment Item

Outcomes
On successful completion of the course, you This course helps you to This learning outcome will be
should be able to: develop the following assessed in the following
Program Learning items:
Outcomes:
In-tutorial test
Apply basic principles of financial PLO 1: Business
Online quizzes
mathematics to real life problems. knowledge
Final Exam
Apply probability tools to solve risk and
uncertainty scenarios.
Use matrix algebra to represent and solve

systems of equations.
Use linear programming and calculus to

solve optimisation problems.
Apply both single variable and multivariable

calculus to business and economics
problems.
In-tutorial test
Formulate and solve real problems PLO 2: Problem solving
Online quizzes
amenable to mathematical analysis that
Final Exam
arise in economics and business using the
methods appropriate to the problem.
Final Exam
Construct written work which is logically and PLO 3: Business
professionally presented. communication
Communicate successfully with group

members in solving analytical problems.
Such skills in analytical thinking and
effective communication are Graduate
Attributes that UNSW seeks to foster in its
graduates.
Work collaboratively to complete a task. PLO 4: Teamwork Not specifically assessed.

Identify and assess environmental and PLO 5: Responsible Final Exam
sustainability considerations in problems in business practice PLO 6:
economics and business. Global and cultural
competence
2. Staff Contact Details
Position Title Name Email Location Phone Consultation

Times
Lecturer- Hongyi Li Email Room 415 9385 3386 –
in-
charge
Tutors: List of tutors will be posted on Website.
Communications with staff

Consultations are an opportunity for you to ask questions. You may need to ask about the material
introduced in lectures, the problems you have attempted or questions that were not fully answered in
tutorials.
You should feel free to contact your lecturers about any matter. For issues regarding the material taught
during lectures, please contact the lecturer responsible for your class. For efficiency, all enquiries about
the subject material should be made at lectures or tutorials or during consultation time. Discussion of
course subject material will not be entered into via lengthy emails.
Email correspondence on administrative matters (e.g. advising inability to attend tutorials) will be
responded to within 48 hours, but not over weekends. Please note that the lecturer has no advance notice
of the date and time of the exam (the subject of many emails).
Email enquiries should be directed to the QABE staff as follows:
Lecture-related enquires to your lecturer;

Tutorial material enquiries to your tutor;
Course related issues and enquiries about special consideration, assessments and examination to the
lecturer-in-charge;
Administrative enquiries about the tutorials to the tutor-in-charge
We will reply to emails within 3 working days with the following provisions:
The question should require at most a two-sentence response. If it takes more, office hours are the
more appropriate venue.
The email should not request information that can be found on the website or the course outline.
The email is not about grading. For such matters, office hours are appropriate.
Always identify yourself and the course code in the subject of your email.
Please do not send attachments of any kind unless requested.
Pitstop and PASS

In the weeks leading up to exams, starting from about Week 12, the School will be providing Pitstop , an

opportunity for consultation with tutors as you revise for the exams. Details of Pitstop locations and
hours for this course will be advised closer to the time.
PASS (the Peer Assisted Support Scheme) is a system of voluntary study groups available to QABE
students. The groups are each led by senior students and are an opportunity to practice problems,
develop study methods, ask questions, and consolidate your knowledge in a friendly informal
environment. The PASS sessions will start in Week 3 and the timetable will be available from the Course
Website in Week 2.
3. Learning and Teaching Activities

Approach to Learning and Teaching in the Course
The philosophy underpinning this course and its Teaching and Learning Strategies are based on “
Guidelines on Learning that Inform Teaching at UNSW. Specifically, the lectures, tutorials and assessment
have been designed to appropriately challenge students and support the achievement of the desired
learning outcomes. A climate of inquiry and dialogue is encouraged between students and teachers and
among students (in and out of class). The lecturers and tutors aim to provide meaningful and timely
feedback to students to improve learning outcomes.
This is not a course where you can become proficient just by observing. You will need to get involved in
class ‐ evaluating information, asking and answering questions. You also must learn to organise your
independent study and practise enough problems to gain a thorough understanding of concepts and how
to apply them.
You are expected to:
Put a consistent effort into learning activities throughout the session by preparing for the regular
assessment tasks
Take a more responsible role in preparing for tutorials and participating in them
Develop communication skills through engaging in classroom discussions and preparing an
assignment
Concentrate on understanding how and why to use formulas and less on memorising them
Make continuous improvements by using the feedback from assessments
Learning Activities and Teaching Strategies

The examinable content of the course is defined by the references given in the Lecture Schedule, the
content of Lectures, and the content of the Tutorial Program.
In this course there are two types of formal classes: lectures and tutorials. There are also peer assisted
study groups (PASS) which you can attend on a voluntary basis. In addition, you will be expected to spend
a considerable amount of extra time working with group members on your assignment and working on
your own to attempt tutorial preparation and self-study questions.
Lectures
The purpose of Lectures is to provide a logical structure for the topics that make up the course; to

emphasize the important concepts and methods of each topic. They will include explanation of relevant
topics and theory together with worked examples to demonstrate the theory in practice. Where possible,
lectures will show the relevance and application of the quantitative techniques covered in this course to
business, economic and financial applications.
To get the most out of the lectures, students are strongly encouraged to familiarise themselves with the
readings as given in the course outline prior to attending each lecture. To aid note taking a “book” of
lecture outlines, with space for working, is available from the course website. While some students prefer
to take their own notes, others will prefer to use the outline as a template for their notes.
Due to the size of lecture classes and the large amount of course material to be covered there is only a
very limited time for questions during the lectures themselves. However, the smaller tutorial classes (see
below) are ideal forums for students to test their understanding and seek further instruction. Additionally,
there are consultation times with lecturers.
Tutorials
Tutorials are an integral part of the subject. Tutorial presentations / discussion questions / problems will
build on the material discussed in lectures. Tutorials will increase your understanding of the material
covered in lectures if you have tried to work through some numerical problems yourself beforehand.
Focus . Besides learning practical problem‐solving skills, there is an emphasis on the development of
communication skills and the ability to construct arguments. Discussions, both in small groups and
between the whole class, will be an opportunity for you to examine your understanding of concepts and
applications before working on numerical examples.
Preparation . Each week you will be given two sets of questions to work on.
Tutorial questions must be prepared for your tutorial. Expect that your tutor or another student will check
that you have attempted these. You are expected to attend the tutorials and discuss any difficulties you
encountered solving the tutorial questions with our tutor. Solutions to these tutorial questions will be
available on QABE website on each week on Wednesday after 7pm.
Self-study questions will also be set for each week. Attempting these will assist you in answering the
tutorial questions and will form a necessary part of the practice you will need to do to successfully
complete this course. Solutions to some of these questions will be posted on QABE website before the
examination time. Further help in understanding the tutorial solutions and in solving the self-study
problems can be obtained through consultations with your lecturer and tutor.
Discussion . The first part of your tutorial will involve discussion questions related to the numerical
questions you have prepared. These will help you improve your understanding of concepts and
mathematical methods and assist you to see the relevance of these in business and economics. In some
weeks you may also discuss topics such as how to approach your group assignment. During this part of
the tutorial, you may also suggest topics you would like to be discussed, for example areas where you are
confused or need more explanation.
Numerical solutions . During the second part of the tutorial, the students and the tutor, working together,
will examine the solutions to the prepared questions. If time permits, extra questions may be attempted.
In the case where there is not time to work through all the prepared questions, answers to these
questions (but not complete solutions) will be made available on each week on Wednesday on the
website.
Out-of-Class Study
Lectures can only provide a structure to assist your study, and tutorial time is limited. Most learning will

be achieved outside of class time. Students differ in their learning styles but a learning strategy might
include:
Read sections of the textbook before/after the lecture

Attempt the self study problems and compare your methods with the online practice problems to
prepare for quizzes or the past exam required; try extra problems from the textbook if required
Prepare tutorial questions
Take the online quiz, look at your results and if necessary and carry out further preparation before re-
attempting it
Work with other group members on the computing assignment
Seek assistance from staff, PASS leaders or fellow students to have queries answered
4. Assessment
Formal Requirements
In order to pass this course, you must:
achieve a composite mark of at least 50 out of 100;
achieve a satisfactory result on any essential assessment components; and
meet any additional requirements described in the Assessment Summary section.
You are expected to attempt all assessment requirements in the course.
Assessment Structure
Assessment Task Weighting Length Due Date

4 x 2%
Online Quizzes (Total 8%) See in-Online Quizzes Weeks 3, 6, 8, 12
below
3 x 10%
In-Tutorial Tests (Total 30%) See In-Tutorial Tests Weeks 4, 7,10
below
5% –
Tutorial Participation See In-Tutorial
Participation below
57% –
Final Exam University Exam Period
100% – –
Total
Assessment Summary
You must complete the Working with Academic Integrity module AND the module’s quiz found on your
course Moodle site before submitting any written assessment by the due date. Non-compliance with the
UNSW Student Code may result in disciplinary action.
Tutorial Participation (5%)

Marks Guide for Tutorial Participation:
0: Below 80% of attendance as required by UNSW and Business School rules. Attendance at 9 of 12
tutorials will be deemed as meeting the requirement. Students must sign on by 10 minutes from start of
tutorial to qualify as ‘in attendance’. Signing on for another student will be treated as misconduct.
1: Has satisfied the attendance requirement (attended at least 9 tutorials) but has not contributed to class
discussion.
2-5: Has attended 10-11 tutorials and contributed to class discussion in relevant and constructive ways.
In certain circumstances, such as where a request for special consideration is made in relation to
assessment items, tutorial attendance will be taken into account in determining your final assessment or
whether special consideration is granted. If, owing to illness or other exceptional circumstances, you are
unable to attend your usual tutorial, you may try to attend another tutorial in the same week. However, you
are required to attend your usual tutorial class at least 9 times during the session. This allows for
occasional absence due to minor illness and other reasons, hence special consideration applications will
not reduce this requirement.
Online Quizzes (8%)

Four online quizzes have been designed to assist you to learn, so you can practice, check your
understanding of topics and improve on your first attempt if necessary. Each quiz will count 2% of the
overall mark for the course.
Quizzes will test material up to and including lectures ending the previous week. Before completing each
quiz you will have the opportunity to try online self‐check practice questions that are similar in content to
the topics to be examined. The format of the practice questions will be a mixture of multiple‐choice and
true‐false questions. For each quiz there will be two attempts allowed, but only your highest mark will be
recorded.
Each of the online quizzes will consist of ten questions. You will need to perform calculations similar to
those in the practice set but enter numerical answers rather than checking a box. In order to avoid
rounding errors you should try to store as much information in you calculator’s memory as possible. You
will be allocated a time limit of one hour to complete each attempt and you may have two attempts at
each quiz. For the second attempt, you may not get exactly the same set of questions or data.
The dates between which quizzes will be available online are:
Quiz 1 – Week 3: Week beginning 6 August

Quiz 2 – Week 6: Week beginning 27 August
Quiz 3 – Week 9: Week beginning 17 September
Quiz 4 – Week 13: Week beginning 22 October
You can access the quizzes at the website, http://moodle.telt.unsw.edu.au, by clicking on the quizzes
link.It is a good idea to save each answer as you progress through the questions in case your internet
connection fails. Do not leave it until Sunday night to begin your first quiz attempt as overuse of the
website may cause access problems.
You are encouraged to make your attempts at UNSW computing labs. There are no supplementary
quizzes. You are given two attempts to cover for any unseen technical problems that may cause you to
lose one attempt. You may contact the lecturer-in-charge if and only if you lose the two attempts due to
technical problems (connecting to Moodle, Moodle shut down…) encountered in a UNSW computer lab.
No considerations will be given if you leave your two attempts till Sunday evening!
In-Tutorial Tests (30%)

There will be 3 written tutorial tests in Weeks 4, 7 and 10, each one counting towards 10% of the overall
mark for the course. You will be notified by your lecturer of the time given to complete each test, as well
as the material covered. This announcement will be made in lectures during the week before the test and
will also be posted on QABE website.
In-Tutorial test 1: Week 5: Week beginning 20 August: up to and including lecture 4

In-Tutorial test 2: Week 8: Week beginning 10 September: up to and including lecture 10
In-Tutorial test 3: Week 12: Week beginning 15 October: up to and including lecture 16
A sheet with a number of selected formulae will be provided. This sheet will be available for download
from the course website prior to the exam. The main purpose of these tests is to gauge:
Knowledge of the topics covered so far. Thus helping achieve learning outcome 1;
Ability to use formulae appropriately and to perform calculations with speed and in developing
analytical skills that are necessary to achieve accuracy. Thus helping achieve learning outcome 2;
Problem solving ability, thus helping achieve learning outcome 3.
Students must sit the tutorial tests in the tutorial group to which they have been allocated. There will be
NO supplementary tests offered for the in-tutorial tests. You should make every effort to take the in-
tutorial test(s). Students who fail to attend the tests will need to apply for Special Consideration.
Final Exam Format (57%)
The final will be a 2 hour examination held during the period university examination period. It will be worth
57% of the overall mark for the course, and will cover material from the entire course. There are no
multiple choice questions in the final examination. The final exam consists of a number of questions
designed to test your analytical skills and your problem solving ability. As with the in-tutorial tests, a sheet
with a number of selected formulae will be provided.
Assignment Submission Procedure

See Assessment Summary.
Assessment Feedback
Feedback on student performance from formative and summative assessment tasks will be provided to
students in a timely manner. Assessment tasks completed within the teaching period of a course, other
than a final assessment, will be assessed and students provided with feedback, with or without a
provisional result, within 10 working days of submission, under normal circumstances. Feedback on
continuous assessment tasks (e.g. laboratory and studio-based, workplace-based, weekly quizzes) will be
provided prior to the midpoint of the course.
Late Submission
For information on Special Consideration please refer to the course Policies and Support .

The UNSW Business School has set a protocol under which students may view their final exam
script. Read more about the Business School's final exam script protocol .
Quality Assurance
The Business School is actively monitoring student learning and quality of the student experience in all its
programs. A random selection of completed assessment tasks may be used for quality assurance, such
as to determine the extent to which program learning goals are being achieved. The information is
required for accreditation purposes, and aggregated findings will be used to inform changes aimed at
improving the quality of Business School programs. All material used for such processes will be treated
as confidential.
5. Course Resources
The website for this course is on UNSW Moodle .
The Textbook for this course is:

Recommended text Comment
Haeussler, E.F. Paul, R.S and Wood, R.J., Text and (optional) student solution manual, which
Introductory Mathematical Analysis for Business, contains solutions to the odd numbered questions,
Economics and the Life and Social Sciences 13th are both available at the UNSW bookshop and in
ed ., Published by Addison Wesley, 2008 . MyCourse reserve in the library.
Students may also find the following textbook useful for some parts of the course:
Recommended text Comment
Knox, D.M., Zima, P. and Brown, R.L., Mathematics This book is highly recommended reading for the
of Finance, 2nd ed, financial maths section and in particular for topics
Published by McGraw‐Hill, 1999. from lectures 8 and 9 which are not in the
textbook. Available in MyCourse reserve and at the
UNSW Bookshop.
Morris, C., Quantitative Approaches in Easy to read style, this book is an excellent
Business Studies, 6th ed., Published by Financial resource for linear programming and decision
Times Prentice Hall, 2003. theory topics. Available in MyCourse reserve.
Watson, J., Managing Mathematics: A Recommended for those who have previously
Refresher Course for Economics and gained the assumed knowledge of mathematics,
Commerce Students, 2nd ed., School of but who now need to refresh algebra or calculus.
Economics, UNSW, 2002. Available at the UNSW Bookshop.
Note that in the Lecture Schedule and in the Tutorial Booklet these texts are referred to according to the
initials of their authors as HPW, KZB, CM, and JW.
Calculator. A basic scientific calculator is required for this course. Usually the calculator you used at
school will be satisfactory. It must be able to perform logarithmic and exponential calculations such as ln
x and xy. The calculator must not be a programmable one (i.e. have a full alphabetic keyboard) or a
financial one. If you need to purchase a new calculator, keep in mind that, for further use, it will be
desirable to have a two variable statistical mode to perform linear regression calculations.

6. Course Evaluation & Development
Each year feedback is sought from students and other stakeholders about the courses offered in the
School and continual improvements are made based on this feedback. UNSW's myExperience Survey Tool
is one of the ways in which student evaluative feedback is gathered. You are strongly encouraged to take
part in the feedback process.
7. Course Schedule
Week 1: 23 July
Activity
Lecture
Topic
L1: Introducing QABE
Topic 1: TIME VALUE OF MONEY
L2: The problem
Simple interest
Compound interest
Continuously compounded interest
Present Value
Future value
Assessment/Other
Lecture book 12th ed
KZB 1.1-1.2
HPW 5.1
HPW 5.3
HPW 5.2
KZB 2.3, 2.4
Week 2: 30 July
Activity
Lecture
Topic

L3: Equations of value
Net present value
Internal rate of return
L4: Geometric progressions
Ordinary annuities Annuities due
Assessment/Other
HPW pp.202-204
KZB 1.4, 2.3, 2.6
KZB 8.1, 8.2
HPW 5.4
KZB 3.1-3.4, App.B
Week 3: 6 August
Activity
Lecture
Topic
Topic 2: MATRICES
L5:Introduction to matrices
Transpose, diagonal, identity, zero
Matrix algebra: addition, subtraction
Multiplication: scalar, matrix
L6: Small matrices:
Matrix Inversion, Adjoint method
Solving systems of Linear Equations
Consistency, types of solutions
Assessment/Other
HPW 6.1- 6.3

HPW 6.6
Week 4: 13 August
Activity
Lecture
Topic
L7: More on matrices:
Large matrices
Computing methods
Arrays, inversion, other methods
Topic 3: PROBABILITIES
L8: Permutations
Combinations
Assessment/Other
HPW 6.1-6.3
HPW pp.347-349
HPW 8.2
Week 5: 20 august
Activity
Lecture
Topic
L9: Probability Trees
Rules of probability
Bayes’ Theorem
L10: Markov chains
Assessment/Other
HPW 8.5- 8.7
CM 8

HPW 9.3
Week 6: 27 august
Topic
Topic 4: LINEAR PROGRAMMING
L11: Introduction to Linear Programming
Graphical approaches
L12: Changes in the constraints
Changes in the objective function Applications
Assessment/Other
HPW 7.1
CM 19
HPW 7.2-7.3
Week 7 : 3 September
Activity
Lecture
Topic
Topic 5: CALCULUS
L13: Limits
Rate of change - Differentiation by the limit
Differentiation rules
Applications (marginal cost/revenue, propensities)
L14: Implicit differentiation
Logarithmic and exponential derivatives
Differentials
Higher derivatives
Applications (elasticity of demand)

Assessment/Other
HPW 10.1-10.4
HPW 11.1, 11.3-11.5
HPW 11.2
HPW 12.3
HPW 12.4
HPW 12.1-12.2
HPW 14.1
HPW 12.7 HPW 12.3
Week 8 : 10 September
Activity
Lecture
Topic
L15: Relative extrema
Concavity, convexity
Local, global extrema
Inflection points
L16: Introduction to integration
The indefinite integral
The definite integral
Integration rules
Assessment/Other
HPW 13.1
HPW 13.3- 13.4, 13.6
HPW 14.1-14.7, 14.10
Week 9: 17 September
Activity

Lecture
Topic
L17: Introduction to differential equations
Method of separation of variables
Introducing growth
L18: Exponential growth
Limited growth applications
Assessment/Other
HPW 14.10, 15.5
HPW 15.6
Mid Semester Break : 24 September

Week 10: 1 October
Activity
Lecture
Topic
L19: Introduction to multivariable calculus
Level curves
Partial & total derivatives
Topic 6: OPTIMIZATION
L20: Multivariable optimization
Unconstrained optimization
Constrained optimization
Assessment/Other
HPW 17.1-17.3
HPW 17.5-17.6
HPW 17.1-17.6

HPW 17.7 HPW 17.8
Week 11: 8 October
Activity
Lecture
Topic
L21: Applications of constrained optimization
Economic applications
Lagrange multipliers
L22: EXAM INFORMATION
Week 12: 15 October
Activity
Lecture
Topic
Course Review
8. Policies
Information about UNSW Business School protocols, University policies, student responsibilities and
education quality and support.
Program Learning Outcomes
The Business School places knowledge and capabilities at the core of its curriculum via seven Program
Learning Outcomes (PLOs). These PLOs are systematically embedded and developed across the
duration of all coursework programs in the Business School.
PLOs embody the knowledge, skills and capabilities that are taught, practised and assessed within each
Business School program. They articulate what you should know and be able to do upon successful
completion of your degree.
Upon graduation, you should have a high level of specialised business knowledge and capacity for
responsible business thinking, underpinned by ethical professional practice. You should be able to
harness, manage and communicate business information effectively and work collaboratively with
others. You should be an experienced problem-solver and critical thinker, with a global perspective,
cultural competence and the potential for innovative leadership.
All UNSW programs and courses are designed to assess the attainment of program and/or course level
learning outcomes, as required by the UNSW Assessment Design Procedure . It is important that you
become familiar with the Business School PLOs, as they constitute the framework which informs and

shapes the components and assessments of the courses within your program of study.
PLO 1: Business knowledge
Students will make informed and effective selection and application of knowledge in a discipline or
profession, in the contexts of local and global business.
PLO 2: Problem solving
Students will define and address business problems, and propose effective evidence-based solutions,
through the application of rigorous analysis and critical thinking.
PLO 3: Business communication
Students will harness, manage and communicate business information effectively using multiple forms
of communication across different channels.
PLO 4: Teamwork
Students will interact and collaborate effectively with others to achieve a common business purpose or
fulfil a common business project, and reflect critically on the process and the outcomes.
PLO 5: Responsible business practice
Students will develop and be committed to responsible business thinking and approaches, which are
underpinned by ethical professional practice and sustainability considerations.
PLO 6: Global and cultural competence
Students will be aware of business systems in the wider world and actively committed to recognise and
respect the cultural norms, beliefs and values of others, and will apply this knowledge to interact,
communicate and work effectively in diverse environments.
PLO 7: Leadership development
Students will develop the capacity to take initiative, encourage forward thinking and bring about
innovation, while effectively influencing others to achieve desired results.
These PLOs relate to undergraduate and postgraduate coursework programs. Separate PLOs for
honours and postgraduate research programs are included under 'Related Documents'.
Business School course outlines provide detailed information for students on how the course learning
outcomes, learning activities, and assessment/s contribute to the development of Program Learning
Outcomes.
RELATED DOCUMENTS
Undergraduate Honours Program Learning Goals and Outcomes (pdf)
Master of Philosophy Program Learning Goals and Outcomes (pdf)
Doctor of Philosophy Program Learning Goals and Outcomes (pdf)
UNSW Graduate Capabilities

The Business School PLOs are linked to UNSW Graduate Capabilities , a set of generic abilities and
skills that all students are expected to achieve by graduation. These capabilities articulate the
University's institutional values, as well as future employer expectations.
UNSW Graduate Capabilities

The Business School PLOs also incorporate UNSW graduate capabilities , a set of generic abilities and
skills that all students are expected to achieve by graduation. These capabilities articulate the

University’s institutional values, as well as future employer expectations.
UNSW Graduate Capabilities Business School PLOs
Scholars capable of independent and PLO 1: Business knowledge
collaborative enquiry, rigorous in their analysis, PLO 2: Problem solving
critique and reflection, and able to innovate by PLO 3: Business communication
applying their knowledge and skills to the solution PLO 4: Teamwork
of novel as well as routine problems. PLO 7: Leadership development
Entrepreneurial leaders capable of initiating and PLO 1: Business knowledge

embracing innovation and change, as well as PLO 2: Problem solving
engaging and enabling others to contribute to PLO 3: Business communication
change PLO 4: Teamwork
PLO 7: Leadership development
Professionals capable of ethical, self- directed PLO 1: Business knowledge

practice and independent lifelong learning PLO 2: Problem solving
PLO 3: Business communication
Global citizens who are culturally adept and PLO 1: Business knowledge
capable of respecting diversity and acting in a PLO 2: Problem solving
socially just and responsible way. PLO 3: Business communication
PLO 4: Teamwork
While our programs are designed to provide coverage of all PLOs and graduate capabilities, they also
provide you with a great deal of choice and flexibility. The Business School strongly advises you to
choose a range of courses that assist your development against the seven PLOs and four graduate
capabilities, and to keep a record of your achievements as part of your portfolio. You can use a portfolio
as evidence in employment applications as well as a reference for work or further study. For support
with selecting your courses contact the UNSW Business School Student Centre .
Academic Integrity and Plagiarism

Academic Integrity is honest and responsible scholarship. This form of ethical scholarship is highly
valued at UNSW. Terms like Academic Integrity, misconduct, referencing, conventions, plagiarism,
academic practices, citations and evidence based learning are all considered basic concepts that
successful university students understand. Learning how to communicate original ideas, refer sources,
work independently, and report results accurately and honestly are skills that you will be able to carry
beyond your studies.
The definition of academic misconduct is broad. It covers practices such as cheating, copying and
using another person’s work without appropriate acknowledgement. Incidents of academic misconduct

may have serious consequences for students.
Plagiarism
UNSW regards plagiarism as a form of academic misconduct. UNSW has very strict rules regarding
plagiarism. Plagiarism at UNSW is using the words or ideas of others and passing them off as your
own. All Schools in the Business School have a Student Ethics Officer who will investigate incidents of
plagiarism and may result in a student’s name being placed on the Plagiarism and Student Misconduct
Registers.
Below are examples of plagiarism including self-plagiarism: Copying: Using the same or very
similar words to the original text or idea without acknowledging the source or using quotation
marks. This includes copying materials, ideas or concepts from a book, article, report or other
written document, presentation, composition, artwork, design, drawing, circuitry, computer
program or software, website, internet, other electronic resource, or another person's
assignment, without appropriate acknowledgement of authorship.
Inappropriate Paraphrasing: Changing a few words and phrases while mostly retaining the original
structure and/or progression of ideas of the original, and information without acknowledgement. This
also applies in presentations where someone paraphrases another’s ideas or words without credit and
to piecing together quotes and paraphrases into a new whole, without appropriate referencing.
Collusion: Presenting work as independent work when it has been produced in whole or part in
collusion with other people. Collusion includes:
Students providing their work to another student before the due date, or for the purpose of them
plagiarising at any time
Paying another person to perform an academic task and passing it off as your own
Stealing or acquiring another person’s academic work and copying it
Offering to complete another person’s work or seeking payment for completing academic work
Collusion should not be confused with academic collaboration (i.e., shared contribution towards a
group task).
Inappropriate Citation: Citing sources which have not been read, without acknowledging the 'secondary'
source from which knowledge of them has been obtained.
Self-Plagiarism: ‘Self-plagiarism’ occurs where an author republishes their own previously written work
and presents it as new findings without referencing the earlier work, either in its entirety or partially.
Self-plagiarism is also referred to as 'recycling', 'duplication', or 'multiple submissions of research
findings' without disclosure. In the student context, self-plagiarism includes re-using parts of, or all of, a
body of work that has already been submitted for assessment without proper citation.
To see if you understand plagiarism, do this short quiz: https://student.unsw.edu.au/plagiarism-quiz
Cheating
The University also regards cheating as a form of academic misconduct. Cheating is knowingly
submitting the work of others as their own and includes contract cheating (work produced by an
external agent or third party that is submitted under the pretences of being a student’s original piece of
work). Cheating is not acceptable at UNSW.
If you need to revise or clarify any terms associated with academic integrity you should explore the
'Working with Academic Integrity' self-paced lessons available at: https://student.unsw.edu.au/aim .
For UNSW policies, penalties, and information to help you avoid plagiarism see: https://
student.unsw.edu.au/plagiarism as well as the guidelines in the online ELISE tutorials for all new UNSW
students: http://subjectguides.library.unsw.edu.au/elise . For information on student conduct see:

https://student.unsw.edu.au/conduct .
For information on how to acknowledge your sources and reference correctly, see: https://
student.unsw.edu.au/referencing . If you are unsure what referencing style to use in this course, you
should ask the lecturer in charge.
Student Responsibilities and Conduct

Students are expected to be familiar with and adhere to university policies in relation to class
attendance and general conduct and behaviour, including maintaining a safe, respectful environment;
and to understand their obligations in relation to workload, assessment and keeping informed.
Information and policies on these topics can be found on the 'Managing your Program' website .
Workload
It is expected that you will spend at least nine to ten hours per week studying for a course except for
Summer Term courses which have a minimum weekly workload of eighteen to twenty hours . This time
should be made up of reading, research, working on exercises and problems, online activities and
attending classes. In periods where you need to complete assignments or prepare for examinations, the
workload may be greater. Over-commitment has been a cause of failure for many students. You should
take the required workload into account when planning how to balance study with employment and
other activities.
We strongly encourage you to connect with your Moodle course websites in the first week of semester .
Local and international research indicates that students who engage early and often with their course
website are more likely to pass their course.
View more information on expected workload
Attendance
Your regular and punctual attendance at lectures and seminars or in online learning activities is
expected in this course. The Business School reserves the right to refuse final assessment to those
students who attend less than 80% of scheduled classes where attendance and participation is required
as part of the learning process (e.g., tutorials, flipped classroom sessions, seminars, labs, etc.).
View more information on attendance
General Conduct and Behaviour

You are expected to conduct yourself with consideration and respect for the needs of your fellow
students and teaching staff. Conduct which unduly disrupts or interferes with a class, such as ringing or
talking on mobile phones, is not acceptable and students may be asked to leave the class.
View more information on student conduct
Health and Safety

UNSW Policy requires each person to work safely and responsibly, in order to avoid personal injury and
to protect the safety of others.
View more information on Health and Safety
Keeping Informed
You should take note of all announcements made in lectures, tutorials or on the course web site. From

time to time, the University will send important announcements to your university e-mail address
without providing you with a paper copy. You will be deemed to have received this information. It is also
your responsibility to keep the University informed of all changes to your contact details.
Special Consideration
You must submit all assignments and attend all examinations scheduled for your course. You can apply
for special consideration when illness or other circumstances beyond your control, interfere with your
performance in a specific assessment task or tasks. Special Consideration is primarily intended to
provide you with an extra opportunity to demonstrate the level of performance of which you are
capable.
General information on special consideration for undergraduate and postgraduate courses can be
found in the Assessment Implementation Procedure and the Current Students page .
Please note the following:

1. Applications will not be accepted by teaching staff. The lecturer-in-charge will be automatically
notified when you lodge an online application for special consideration
2. Decisions and recommendations are only made by lecturers-in-charge (or by the Faculty Panel in the
case of final exam special considerations), not by tutors
3. Applying for special consideration does not automatically mean that you will be granted a
supplementary exam or other concession
4. Special consideration requests do not allow lecturers-in-charge to award students additional marks
Business School Protocol on requests for Special Consideration

The lecturer-in-charge will need to be satisfied on each of the following before supporting a request for
special consideration:
1. Does the medical certificate contain all relevant information? For a medical certificate to be
accepted, the degree of illness and its impact on the student must be stated by the medical
practitioner (severe, moderate, mild). A certificate without this will not be valid. Students should also
note that only medical certificates issued after physically visiting a registered medical practitioner
will be accepted. Medical certificates submitted for Special Consideration should always be
requested from a registered medical practitioner that you have seen at a medical
practice. Certificates obtained online or via social media may be fraudulent and if relied upon could
result in a breach of the UNSW Student Code .
2. Has the student performed satisfactorily in the other assessment items? To understand what
Satisfactory Performance means in this course, please refer to the 'Formal Requirements' section in
Part A of your Course Outline
Special Consideration and the Final Exam in undergraduate and postgraduate

courses
Applications for special consideration in relation to the final exam are considered by a Business School
Faculty panel to which lecturers-in-charge provide their recommendations for each request. If the
Faculty panel grants a special consideration request, this will entitle the student to sit a supplementary
examination. No other form of consideration will be granted. The following procedures will apply:
1. Supplementary exams will be scheduled centrally and will be held approximately two weeks after the
formal examination period. Supplementary exams for Semester 1, 2018 will be held during the period
14 - 21 July, 2018 . Supplementary exams for Semester 2, 2018 will be held during the period 8 - 15
December, 2018 . Students wishing to sit a supplementary exam will need to be available during this
period.
If a student lodges a special consideration application for the final exam, they are stating they will be
available on this date. Supplementary exams will not be held at any other time.

2. Where a student is granted a supplementary examination as a result of a request for special
consideration, the student’s original exam (if completed) will be ignored and only the mark achieved
in the supplementary examination will count towards the final grade. Absence from a supplementary
exam without prior notification does not entitle the student to have the original exam paper marked,
and may result in a zero mark for the final exam.
The Supplementary Exam Protocol for Business School students is available at: http://
www.business.unsw.edu.au/suppexamprotocol
For special consideration for assessments other than the final exam refer to the ‘Assessment Section’
in your course outline .

The UNSW Business School has set a protocol under which students may view their final exam script.
Please check the protocol here .
Given individual schools within the Faculty may set up a local process for viewing final exam scripts, it
is important that you check with your School whether they have any additional information on this
process. Please note that this information might also be included in your course outline.
Student Support and Resources

The University and the Business School provide a wide range of support services and resources for
students, including:
Business School Education Quality and support Unit (EQS)

The EQS offers academic writing, study skills and maths support specifically for Business students.
Services include workshops, online resources, and individual consultations.
Level 1, Room 1033, Quadrangle Building.
Email
02 9385 7577 or 02 9385 4508
Business School Student Centre

The Business School Student Centre provides advice and direction on all aspects of admission,
enrolment and graduation.
Level 1, Room 1028 in the Quadrangle Building
02 9385 3189
UNSW Learning Centre

The UNSW Learning Centre provides academic skills support services, including workshops and
resources, for all UNSW students. See their website for details.
Lower Ground Floor, North Wing Chancellery Building.
Email
02 9385 2060
Educational Support Service

Educational Support Advisors work with all students to promote the development of skills needed to
succeed at university, whilst also providing personal support throughout the process. Check their
website to request an appointment or to register in the Academic Success Program.
John Goodsell Building, Ground Floor.
Email
02 9385 4734
Library services and facilities for students

The UNSW Library offers a range of collections, services and facilities both on-campus and online.

Main Library, F21.
02 9385 2650
Moodle eLearning Support

Moodle is the University’s learning management system. You should ensure that you log into Moodle
regularly.
Email
02 9385 3331
UNSW IT
UNSW IT provides support and services for students such as password access, email services, wireless
services and technical support.
UNSW Library Annexe (Ground floor).
Email
02 9385 1333
Disability Support Services

UNSW Disability Support Services provides assistance to students who are trying to manage the
demands of university as well as a health condition, learning disability or who have personal
circumstances that are having an impact on their studies. Disability Advisers can arrange to put in place
services and educational adjustments to make things more manageable so that students are able to
complete their course requirements. To receive educational adjustments for disability support, students
must first register with Disability Services.
Ground Floor, John Goodsell Building.
Email
02 9385 4734
UNSW Counselling and Psychological Services

Provides support and services if you need help with your personal life, getting your academic life back
on track or just want to know how to stay safe, including free, confidential counselling.
Level 2, East Wing, Quadrangle Building.
Email
02 9385 5418


ECON1202 Course Outline S2 2018

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UNSW Business School

ECON1202 Quantitative Analysis for Business and

Teaching Times and Locations

View course timetable

Course Policies & Support

View course Policies and Support

business.unsw.edu.au - CRICOS Code 00098G Created: 20/7/2018 1 of 24

The aims of this course are for you to:

business.unsw.edu.au - CRICOS Code 00098G Created: 20/7/2018 2 of 24

Course Learning Outcomes Program Learning Course Assessment Item

Use matrix algebra to represent and solve

Use linear programming and calculus to

Apply both single variable and multivariable

Communicate successfully with group

Work collaboratively to complete a task. PLO 4: Teamwork Not specifically assessed.

business.unsw.edu.au - CRICOS Code 00098G Created: 20/7/2018 3 of 24

2. Staff Contact Details

Position Title Name Email Location Phone Consultation

Communications with staff

Email enquiries should be directed to the QABE staff as follows:

Lecture-related enquires to your lecturer;

Pitstop and PASS

business.unsw.edu.au - CRICOS Code 00098G Created: 20/7/2018 4 of 24

3. Learning and Teaching Activities

You are expected to:

Learning Activities and Teaching Strategies

business.unsw.edu.au - CRICOS Code 00098G Created: 20/7/2018 5 of 24

business.unsw.edu.au - CRICOS Code 00098G Created: 20/7/2018 6 of 24

Read sections of the textbook before/after the lecture

You are expected to attempt all assessment requirements in the course.

Assessment Task Weighting Length Due Date

Tutorial Participation (5%)

Online Quizzes (8%)

The dates between which quizzes will be available online are:

Quiz 1 – Week 3: Week beginning 6 August

In-Tutorial Tests (30%)

business.unsw.edu.au - CRICOS Code 00098G Created: 20/7/2018 8 of 24

In-Tutorial test 1: Week 5: Week beginning 20 August: up to and including lecture 4

Final Exam Format (57%)

Assignment Submission Procedure

business.unsw.edu.au - CRICOS Code 00098G Created: 20/7/2018 9 of 24

The Textbook for this course is:

business.unsw.edu.au - CRICOS Code 00098G Created: 20/7/2018 10 of 24

L1: Introducing QABE

Topic 1: TIME VALUE OF MONEY

L2: The problem

Continuously compounded interest

Lecture book 12th ed

KZB 2.3, 2.4

business.unsw.edu.au - CRICOS Code 00098G Created: 20/7/2018 11 of 24

Net present value

Internal rate of return

L4: Geometric progressions

Ordinary annuities Annuities due

KZB 1.4, 2.3, 2.6

KZB 8.1, 8.2

KZB 3.1-3.4, App.B

Transpose, diagonal, identity, zero

Matrix algebra: addition, subtraction