Recommended Study Sequence

This unit presents some fundamental ideas and techniques of mathematics in common use, with a focus on basic mathematical tools that are particularly relevant to business, economics and finance. It provides a sound base for the application of basic mathematical tools to a variety of technological and business areas, and introduces students to relevant themes in both calculus and algebra.

The investment, financing and risk management decisions that all firms make are implemented by creating and trading financial instruments in financial markets, often with the involvement of a variety of institutions. Using the Australian financial system as an illustration, this unit introduces students to the theory and functions of financial intermediaries and the operation of financial systems. Students also develop an understanding of the role and functions of markets in equities, debt, foreign exchange, options and futures, and theories of interest rate determination and the term structure of interest rates.

The development of business skills in the form of the application of information collection, analysis and evaluation, logical reasoning skills and communication skills relevent to business and economic issues.

This unit is an introduction to economic concepts and contemporary economic issues. It introduces students to basic concepts such as markets and their operation, the behaviour of firms, the efficiency and potential failings of free markets, the role of government, key macroeconomic variables and problems such as unemployment. It illuminates these concepts via application to contemporary economic issues and debates over different theoretical perspectives. This unit also exposes students to recent developments in economics via presentations by specialist guest lecturers.

This Level 1 unit introduces the basic concepts and techniques of statistics that are particularly relevant to problem solving in business. It also provides a sound base for more advanced study in statistics and forecasting in subsequent sessions. Topics include: presentation of data; descriptive statistics; the role of uncertainty in business decision making; hypothesis testing; and basic forecasting.

For information on this unit please contact the Unit Coordinators: Sharon Taylor (Blacktown and Campbelltown Campuses) and Jean McCartney (Parramatta Campus). This unit provides exposure to financial and management accounting information from a user viewpoint. The unit aims to provide breadth of awareness and knowledge in relevant fields of accounting essential to decision making for managers.

This is an introductory law unit designed to introduce the fundamentals of law in a commercial context. The unit introduces students to the basic principles of law and the legal system as well as examining some of the major areas of law that impact on commercial dealings. This unit examines the structure of the legal system, the way law is made, legal reasoning and problem solving. The main areas of law covered include contracts, torts and agency.

This unit provides an opportunity for students to engage with the dynamics of the management of organisations. Students will be introduced to the connection between the way work and systems are organised and managed and their impact on individuals and societies. This is achieved by using case based opportunities to examine real life contexts. This is an essential unit for business students that can be taken by any student needing a broad initial understanding of management.

This unit extends the ideas presented in Mathematics for Business in a rigorous and interesting way to some real-world applications in finance and economics. Some of these will include asset allocation decisions, portfolio optimisation, input-output analysis for whole economies, and option pricing equations. To do this some advanced mathematical topics need to be introduced. The unit includes further work in univariate calculus, linear algebra, optimisation of functions of several variables, linear programming, and differential and difference equations.

The unit builds on the basic statistical concepts introduced in first year, and also prepares students for broader application of statistics for those majoring in science or business. Topics include some common probability distributions; revision of hypothesis testing; analysis of categorical data; analysis of variance; simple and multiple linear regression analysis and correlation; some nonparametric methods; and fundamentals of time-series analysis.

This unit is a survey of the marketing process, introducing students to the marketing concept, strategic and marketing planning, marketing research, consumer and customer behaviour, issues of market segmentation, targeting and positioning as well as all the elements of the marketing mix (product/service, pricing, distribution and marketing communication strategies).

This unit introduces the fundamental concepts of finance theory and the tools of financial decision making in the context of the Australian institutional environment. These concepts relate primarily to the time value of money, risk and return, capital budgeting and capital structure. The unit's purpose is to develop an understanding of the basic practices of financial management from the perspective of a firm (both large and small). Students examine the investment, financing and dividend decisions of corporations.

This unit describes the theory and practice of investment decision making. The general objective of the unit is to introduce students to finance theory and to the tools of financial decision making by providing a conceptual framework within which the key financial decision of investment can be analysed.

Differential equations arise naturally, both in abstract mathematics and in the study of many phenomena. This unit provides the theory of ordinary differential equations and an introduction to partial differential equations, together with methods of solution. Examples are drawn from a wide range of biological, chemical, physical and economic applications.

The first section of the unit covers the idea of hedging and pricing by arbitrage in the discrete-time setting of binary trees. The key probabilistic concepts of conditional expectation, martingales, change of measure and representation are introduced in a simple framework. The second (and main) part of the unit concentrates on classical Black-Scholes analysis, assuming a lognormal random walk for asset prices. Ito's lemma and simple arbitrage arguments are used to derive the Black-Scholes partial differential equation for the fair value of an option. A variety of different kinds of options are considered and it is shown how, by suitably selecting boundary and final conditions for the Black-Scholes equation, virtually all derivative securities may be valued in a Black-Scholes framework. The unit concludes with a variety of 'exotic options': digital, pay-later, gap options and American options and the free boundary value problems. The link between the existence of equivalent martingale measures and the ability to price and hedge is formalised.

This unit provides an opportunity for students to carry out a major project, in the form of a directed investigation under the supervision of an academic staff member. With the assistance of their supervisor, students will define the problem to be studied and then apply and develop the appropriate methodology. The final report presented by the student will consist of an appropriate simple literature review, presentation of analytical and/or theoretical results, analysis and discussion, followed by an appropriate conclusion. Students are also expected to give an oral presentation at the end of the session, outlining the results of their investigation.

This unit concentrates on the solution of some mathematical problems that are suitable for interpretation in a deterministic manner. Selected real-world problems are approximated by mathematical models that are amenable to being written in terms of linear and non-linear equations and ordinary differential equations. In some instances analytic solutions are obtained, while in others computer programs provide numerical results. In either situation, there is emphasis on interpreting models, modifying them as required and using them for prediction.

This unit provides the theoretical basis of real and complex numbers, including differentiation and integration. Topics include: field axioms and completeness, sequences, series, convergence, compactness, continuity, differentiability, integrability, and related theorems in both the real and complex number systems.

This unit covers linear regression analysis and experimental design, with analysis of variance being the primary analytical tool. Topics in linear regression are: the statistical model, the method of least squares, sampling distributions of least squares estimators, statistical inferences and testing hypotheses, methods for model building, detecting violations of the regression assumption and remedies, logistic regression, and Poisson regression. Topics in designed experiments are: completely randomised experiment, factorial experiment, randomised block, Latin square, random model, and mixed model. For each design the following aspects are covered: the statistical model, the normal equations and their solutions, sums of squares and basic algebraic identity, the ANOVA table and relevant tests, and treatment comparisons.

This Level 3 unit presents the basic techniques of time series analysis with emphasis on model identification, parameter estimation and diagnostic checking. The use of time series models for the process of forecasting future behaviour is discussed. In addition, alternative forecasting approaches, in particular econometic methods, are introduced and some guidelines for choosing an appropriate forecasting method are outlined.

In the first half of this unit students gain an appreciation of survey methodology, including questionnaire design, as well the application of sampling techniques. These include simple random sampling, stratification, supplementary information and cluster sampling. The second half of the unit covers the principal methods of multivariate data analysis, principal components, factor analysis, discriminant analysis, and cluster analysis.

This is an introduction to stochastic processes for students familiar with elementary probability. This unit presents the theory and application of time-dependent processes. In addition the unit applies some methods of probability and stochastic processes to real-world problems. Topics include: Markov chains, Poisson processes, continuous-time Markov chains, branching processes, birth and death processes, queuing systems, and stationary processes.

The general aim of this unit is to examine how financial and non-financial firms use key foreign exchange and interest rate products to manage the risk associated with their international investment and financing decisions. This unit complements other aspects of managerial decision-making, including the marketing and production decisions of the international firm.

This unit provides students with a unifying theoretical perspective on the most important concepts in the field of finance. The presentation is rigorous and students develop their ability to critically evaluate the principal theoretical results in the finance literature.

This unit provides an introduction to the theory and analytical techniques relevant to the management of Australian financial institutions. The unit presents a thorough examination of the major financial risks faced by Australian banks, and methods of measuring and managing these risks.

This unit covers the contemporary theory of portfolio analysis and management. Topics include: risk and diversification; the two and n security case; the Markowitz efficient frontier; investor indifference curves and optimal portfolios; CML and optimal portfolios; beta, SML and the discount rate re-visited; Sharpe single index model and APT asset allocation; investments to the portfolio and portfolio strategies; measuring portfolio performance and security selection decisions; active portfolio management; international diversification; process of portfolio management; and risk management and hedging.

This unit provides an introduction to trading and the theory of pricing of options, futures and other derivative products currently used in the domestic and international financial markets.

This unit develops algebraic thought to a high level. The abstract concepts involved in the main topics (group theory and number theory) have many applications in science and technology, and the unit includes an application to cryptography.

This unit is designed to provide students with the knowledge required for making property investment decisions. It teaches students how to systematically analyse potential property investments in the real world. The analysis is based on the discounted cashflow models, which utilizes techniques such as NPV, IRR and MIRR, etc.

This unit examines the role of property in an investment portfolio, with particular attention given to property portfolio performance analysis and property investment strategy. Indirect property investment vehicles in Australia and overseas are assessed, including listed property trusts, property syndicates, property securities funds and listed property trust futures. The performance analysis of both direct and indirect property is also examined to assess the strategic contribution of property to an investment portfolio.