• Class Number 2869
• Term Code 3030
• Class Info
• Unit Value 6 units
• Mode of Delivery In Person
• COURSE CONVENER
• Dr Tue Gorgens
• LECTURER
• Dr Tue Gorgens
• Class Dates
• Class Start Date 24/02/2020
• Class End Date 05/06/2020
• Census Date 08/05/2020
• Last Date to Enrol 02/03/2020
SELT Survey Results

Foundations of Economic and Financial Models (EMET1001)

The course teaches the mathematical foundations of models in economics, business and finance and its applications. Mathematical topics covered include set theory, functions, series, limits, univariate and multivariate calculus, unconstrained and constrained optimisation, matrix algebra. Applications include effective interest rates, present value, annuities, production functions, average and marginal cost functions, profit maximisation.

## Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

1. demonstrate an understanding of mathematical techniques discussed;
2. be able to formulate economic problems in mathematical terms and apply the tools provided to analyse them correctly and precisely;
3. demonstrate an understanding of the common functional forms and rules used in derivatives and integrals of functions that frequently appear in economic models;
4. apply the basic principles of maximisation and minimisation to optimisation problems in economics and find the correct solutions to these problems;
5. apply matrix algebra to simple economic problems and linear models, demonstrating the ability to solve linear systems of equations in matrix form;
6. make use of basic principles of financial arithmetic in economic and financial problems to compute solutions.

## Examination Material or equipment

You may need access to a calculator to complete exercises required for this course. You will be provided with a (non programmable) calculator (HP Scientific Calculator 300s+) for the mid-semester and final examinations.

## Required Resources

Sydsæter, Hammond, Strøm, and Carvajal (2016). Essential Mathematics for Economic Analysis. 5th edition. Pearson. Note: 4th edition is also fine. Access to the electronic version is provided through the ANU library. Expect to do a very quick review of chapters 1-3, then cover 15-16, 4-11, and 13 time permitting.

Pearson's MyMathLab. Note: The costs are paid by the Research School of Economics. Access through the Wattle course site.

If any addition material is required, it will be announced on the Wattle course site.

## Staff Feedback

Performance on the homework assignments will be available the week after the due date, through the MyMathLab platform.

Performance on the midsemester exam is expected to be available within two weeks after the exam, through Wattle.

## Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

## Class Schedule

Week/Session Summary of Activities Assessment
1 Week 1-6: Sydsæter et al. (2016) ch 1-3 (quick review), 15-16, 4-6 Weekly homework. Midsemester exam
2 Week 7-12: Sydsæter et al. (2016) ch 7-11, 13 (time permitting) Weekly homework. Final exam.

## Tutorial Registration

Please see Wattle for current information.

## Assessment Summary

Homework (weekly) 20 % 1,2,3,4,5,6
Midsemester exam 20 % 1,2,3,4,5,6
Final exam 60 % 1,2,3,4,5,6

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

## Policies

ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

## Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website Students may choose not to submit assessment items through Turnitin. In this instance you will be required to submit, alongside the assessment item itself, hard copies of all references included in the assessment item.

## Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

## Participation

This is an on-campus course. Attendance at all teaching events, while not compulsory, is expected in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b). In addition, tutorials are a discussion-based class. Providing worked solutions would not effectively compensate for missing a tutorial. Students who, through unavoidable and unplanned occurrences, are unable to attend a tutorial class one week are encouraged to work through the problems and attend a consultation session for discussion and solutions.

## Examination(s)

See assessment tasks 2 and 3.

Value: 20 %
Learning Outcomes: 1,2,3,4,5,6

Homework (weekly)

Weekly tests conducted through Pearson's MyMathLab. Results will be available progressively after the deadline each week.

The due dates for the homework assignments will be given on Wattle. Typically the homework assignments will be due on Mondays and cover the material from the preceding week, but there may be some variation due to public holidays etc. The first homework assignment is due at 12 noon on Monday 2 March 2020.

The two assignments with the lowest marks will be ignored, and only the remaining assignments count towards the total course mark. No late submissions will be accepted. Any homework assignment not submitted by the deadline will receive a mark of zero.

Value: 20 %
Learning Outcomes: 1,2,3,4,5,6

Midsemester exam

Standard written closed-book examination held during the exam period. Duration 2-3 hours to be determined. The questions will typically involve mathematical derivations and calculations. Information about the coverage and the type of questions will be provided on Wattle in the week before the exam.

Please note - you will be provided with a calculator (HP Scientific Calculator 300s+) for this exam. Only calculators provided by the Examinations Office on the day of the exam are permitted in the exam room.

The mid-semester exam will be held during the normal exam period and scheduled by ANU timetabling.

The mid-semester exam is compulsory. Students who miss the mid-semester exam and have legitimate reasons need to apply for a deferred exam via ISIS. Students who miss the mid-semester exam and do not meet the necessary requirements for a deferred exam will receive a mark of zero.

Value: 60 %
Learning Outcomes: 1,2,3,4,5,6

Final exam

Standard written closed-book examination held during the exam period. Duration 2-3 hours to be determined. The questions will involve mathematical derivations and calculations. Information about the coverage and the type of questions will be provided on Wattle at the end of the semester.

Please note - you will be provided with a calculator (HP Scientific Calculator 300s+) for this exam. Only calculators provided by the Examinations Office on the day of the exam are permitted in the exam room.

The final exam will be held during the normal exam period and scheduled by ANU timetabling.

## Online Submission

The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.

Online Homework assignments are submitted through Pearson's MyMathLab (see above).

## Hardcopy Submission

For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

## Late Submission

No submission of assessment tasks without an extension after the due date will be permitted. If an assessment task is not submitted by the due date, a mark of 0 will be awarded.

## Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

## Returning Assignments

Within two weeks of due date.

## Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure The Course Convener may grant extensions for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

N/A.

## Privacy Notice

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes. Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

## Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

## Convener

 Dr Tue Gorgens 0261253369 emet1001@anu.edu.au

Econometrics

### Dr Tue Gorgens

 By Appointment

## Instructor

 Dr Tue Gorgens tue.gorgens@anu.edu.au

### Dr Tue Gorgens

 By Appointment