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.

Research-Led Teaching

The material taught in this course is directly relevant to research in most, if not all, areas of economics.

Examination Material or equipment

Given the restrictions associated with the COVID-19 pandemic, it is anticipated that the final exam will take the form of an open book exam that is implemented through the Wattle site for the course.

Required Resources

The recommended textbook for this course is:

• Sydsaeter, K, P Hammond, A Strom, and A Carvajal (2016), Essential mathematics for economic analysis (fifth edition), Pearson Education, United Kingdom.

You are not required to purchase a copy of this textbook if you do not wish to do so. However, I strongly recommend that you have access to it during the semester. The ANU library has a digital version of this book and a number of physical copies of the book. I will request that all physical copies of this edition of this book that are available in the ANU library system be placed on short loan for the duration of this course. (Note that the edition of this book that you consult is probably not particularly important, with the possible exception of the organisation of material within the book, and differences in the relevant chapter titles or chapter numbers, or both. The references in this outline will be to the relevant chapters in the fifth edition of this textbook.)

Recommended Resources

Other books that you might find useful include the following.

• Asano, A (2013), An introduction to mathematics for economics, Cambridge University Press, Great Britain.
• Bradley, T (2013), Essential mathematics for economics and business (fourth edition), John Wiley and Sons, Great Britain.
• Haeussler, EF Jr, and RS Paul (1987), Introductory mathematical analysis for business, economics, and the life and social sciences (fifth edition), Prentice-Hall International Edition, Prentice-Hall, USA.
• Shannon, J (1995), Mathematics for business, economics and finance, John Wiley and Sons, Brisbane.

I will request that all physical copies of these editions of these books that are available in the ANU library system be placed on short loan for the duration of this course. (Note that it probably does not matter which editions of these books you consult.)

Books relevant to this class can be found in both the Chifley Library (which houses most of the ANU Library’s economics collection) and the Hancock Library (which houses some of the ANU Library’s economics collection and most of the ANU Library’s mathematics collection). I strongly encourage you to familiarise yourself with, and make use of the resources contained in, both of these branches of the ANU Library.

Staff Feedback

Students will be given feedback in the following forms in this course:

• Graded tutorial assignments.
• Verbal feedback upon request during consultation sessions.

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.

Other Information

Work-Load Expectations

The amount of work required for successful completion of this class may vary between students. As a rough guide, students should expect to devote at least 10 hours a week to this class. This should include all of the following.

• 3 hours a week: lectures.
• 1 hour a week: tutorials.
• At least 6 hours a week: reading, research, writing, lecture and tutorial preparation.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Sets, Numbers, Coordinates, and Distances.	Sydsaeter et al; (2016): Chapters 1 and 2. Asano (2013): Chapters 1 and 2. Bradley (2013): Chapter 1. Haeussler and Paul (1987): Chapter 0. Shannon 1995: Chapter 1.
2	Functions and Correspondences.	Sydsaeter et al; (2016): Chapters 4, 5, 11.1, 11.4, and 11.5. Asano (2013): Chapters 1 and 2. Bradley (2013): Chapters 2 and 4. Haeussler and Paul (1987): Chapters 3, 4, 5, and 17.1. Shannon 1995: Chapters 2 and 6.
3	Binary Relations, Equations, and Inequalities.	Sydsaeter et al; (2016): Chapters 2 and 3. Asano (2013): Chapters 1 and 2. Bradley (2013): Chapter 1. Haeussler and Paul (1987): Chapters 1 and 2. Shannon 1995: Chapters 1, 2, and 6.
4	Sequences, Series, and Limits.	Sydsaeter et al; (2016): Chapters 2.8, 2.9, 2.10, 2.11, 6.5, 7.9, 7.11, and 10. Asano (2013): Chapter 3. Bradley (2013): Chapters 5 and 6.1. Haeussler and Paul (1987): Chapters 6 and 10. Shannon 1995: Chapters 1.6, 6.6, and 7.
5	Univariate Differential Calculus.	Sydsaeter et al; (2016): Chapters 6, 7, and 8. Asano (2013): Chapters 4 and 5. Bradley (2013): Chapter 6. Haeussler and Paul (1987): Chapters 10, 11, 12, and 13. Shannon 1995: Chapter 8.
6	Linear Algebra	Sydsaeter et al; (2016): Chapters 15 and 16. Asano (2013): Appendix A. Bradley (2013): Chapters 3 and 9. Haeussler and Paul (1987): Chapter 8. Shannon 1995: Chapter 2, 3, 4, and 5.
7	Multivariate Differential Calculus.	Sydsaeter et al; (2016): Chapters 11, 12, and 13. Asano (2013): Chapter 6. Bradley (2013): Chapter 7. Haeussler and Paul (1987): Chapter 17. Shannon 1995: Chapter 10.
8	Optimisation.	Sydsaeter et al; (2016): Chapters 8, 13, and 14. Asano (2013): Chapters 4.7, 6.6, 6.7, 6.8, 6.9, and 6.10, and Appendix A.3. Bradley (2013): Chapters 6.3, 6.4, 7.3, and 7.4. Haeussler and Paul (1987): Chapters 12, 13, 17.7, 17.8, 17.9, and 17.10. Shannon 1995: Chapter 8.6, 8.7, 10.4, 10.5, 10.6, and 10.7.
9	Univariate Integral Calculus.	Sydsaeter et al; (2016): Chapter 9. Asano (2013): Chapter 7. Bradley (2013): Chapter 8. Haeussler and Paul (1987): Chapters 14 and 15. Shannon 1995: Chapter 9.

Tutorial Registration

Tutorials will be delivered remotely. More details will be available on the Wattle course site in O-week.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Fortnightly Tutorial Assignments.	20 %	05/08/2019	12/08/2019	1, 2, 3, 4, 5, 6.
Final Exam.	80 %	05/11/2019	21/11/2019	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:

• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Policy and General Information
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure

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.

Assessment Task 1

Fortnightly Tutorial Assignments.

• You are requested to submit answers to all of the "tutorial questions" (but not any "additional practice questions") that are assigned for teaching week 3 (tutorial 2), teaching week 5 (tutorial 4), teaching week 7 (tutorial 6), teaching week 9 (tutorial 8), and teaching week 11 (tutorial 10).
• Each of these assignments should be submitted online through the "Turnitin" link on the Wattle site for this class. A scanned copy of your handwritten assignment is fine. You are not required to type up your answers. However, in order for your assignment to be marked, it must be legible to the grader. If it is not legible, then a mark of zero will be awarded.
• Each assignment should be submitted by 8:00 am on the Monday at the beginning of the week in which the relevant tutorials are held (that, in teaching weeks 3, 5, 7, 9, and 11), unless that Monday is a public holiday. If the Monday is a public holiday, then the assignment should be submitted by 8:00 am on the first regular business day thereafter.
• If you have trouble submitting your assignment through the turnitin link, then please email a copy of that assignment to your tutor and copy the course convenor into that email. Any such email must be received no later than 08:00:00 am on the day that the assignment is due in order for your assignment to be marked.
• You will typically receive the questions for each assignment at least half a week before it is due.
• No late submissions will be accepted. Any assignments that are not submitted by the due date and time will receive a mark of zero.
• In each of these assignments, one question will be chosen for assessment and your mark for that assignment will be based on your response to that question. The identity of the selected question will only be revealed upon release of the marked assignments.
• Your four highest scoring tutorial assignments will be used to calculate your total mark for this assessment component. Each of those four tutorial assignments will potentially be worth 5 % of your overall mark for this course. This means that this assessment component is potentially worth 20 % of your mark for this course.
• Note that this assessment component is redeemable against the final exam. This means that it will only count if you receive a higher percentage mark for this assessment component than you do for the final exam. This will be calculated automatically. No action is required on your part.
• We will endeavor to release comments and marks for these assignments via "Turnitin" by 5:00 pm on Mondays in Teaching Weeks 4, 6, 8, 10, and 12 (that is, in the week after they are submitted).
• All learning outcomes are relevant for this assessment task.

Assessment Task 2

Final Exam.

• Given the restrictions associated with the COVID-19 pandemic, it is anticipated that the final exam will take the form of an open book exam that is implemented through the Wattle site for the course. This would involve a four hour exam period, with a "suggested" or "indicative" allocation of that time involving fifteen minutes of reading time, three hours of writing time, and forty-five minutes for scanning, compilation, and submission. There would be no restriction on permitted materials if the exam takes this form.
• The exam will be comprehensive, in the sense that questions can potentially be drawn from any component of this class. This includes any material that is covered in lectures, or covered in tutorials (including both tutorial questions and additional practice questions), or covered in assigned readings, or covered in some combination of these sources.
• The date and time of the final exam will be determined by the central administration of the ANU. It will occur sometime during the official final exam period.
• The final exam is worth either 80 % or 100 % of your overall mark for this class, depending on your relative performance in the tutorial assignments and the final exam.
• Opportunities to view the graded final exam scripts will be available sometime after the official release of results for the semester.
• All learning outcomes are relevant for this assessment task.

Academic Integrity

Academic integrity is a core part of our culture as a community of scholars. At its heart, academic integrity is about behaving ethically. This means that all members of the community commit to honest and responsible scholarly practice and to upholding these values with respect and fairness. The Australian National University commits to embedding the values of academic integrity in our teaching and learning. We ensure that all members of our community understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with. The University has policies and procedures in place to promote academic integrity and manage academic misconduct. Visit the following Academic honesty & plagiarism website for more information about academic integrity and what the ANU considers academic misconduct. The ANU offers a number of services to assist students with their assignments, examinations, and other learning activities. The Academic Skills and Learning Centre offers a number of workshops and seminars that you may find useful for your studies.

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.

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 and time will be permitted. If an assessment task is not submitted by the due date and time, 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

Please refer to the information on this that was provided above in the discussion of the various assessment tasks. 

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.

Resubmission of Assignments

No resubmission of any assignment after the due date and time for its submission will be permitted in this class.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information. In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service — including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy. If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

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).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Diversity and inclusion for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents undergraduate and ANU College students
• PARSA supports and represents postgraduate and research students