- Class Number 6703
- Term Code 3160
- Class Info
- Unit Value 6 units
- Mode of Delivery In Person
- Dr Yijuan Chen
- Dr Yijuan Chen
- Class Dates
- Class Start Date 26/07/2021
- Class End Date 29/10/2021
- Census Date 14/09/2021
- Last Date to Enrol 02/08/2021
Modern economic theory is based on mathematical models. Thus, a thorough understanding of the economic content of such models is not possible without a clear understanding of the mathematical concepts that underpin the modeling. This course introduces students to a range of optimisation concepts and techniques for economics and financial economics that form the basis of advanced economic theory courses. The introduced optimisation concepts and techniques will be derived from basic principles and assumptions as thoroughly as possible, and will be illustrated using standard applications from economics.
Upon successful completion, students will have the knowledge and skills to:
- Understand the mathematical methods that are most widely used in economics, both from a formal, abstract perspective, and an intuitive perspective.
- Know how to read, understand, and construct mathematical proofs, and appreciate their role in the derivation of mathematical concepts and structures.
- Apply mathematical methods and techniques that are formulated in abstract settings to concrete economic applications.
The techniques learned in this course are essential for understanding and conducting economic research. The instructor will introduce numerous examples to show how these techniques can be applied to solve specific economic problems.
“A First Course in Optimization Theory”, by Rangarrajan Sundaram.
“Mathematics for Economists”, by Carl Simon and Lawrence Blume.
The textbooks will be available for short term loan in the Chifley Library. Moreover, a request has been put to the ANU Library to acquire the E-books, i.e. the digital version of the textbooks, and make them available to students.
Students will be given feedback in the following forms in this course:
- written comments
- verbal comments
- feedback to whole class, groups, individuals, focus group etc
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.
|Week/Session||Summary of Activities||Assessment|
|1||Basic Real Analysis I|
|2||Multivariate Calculus I: Derivatives|
|3||Multivariate Calculus II: Implicit Function Theorem|
|5||Basic Real Analysis II||Wattle online quiz|
|6||Constrained Optimization I: The Weierstrass Theorem; Equality Constraints and the Theorem of Lagrange|
|7||Constrained Optimization II: Inequality Constraints: Theory||Mid-semester exam|
|8||Constrained Optimization II: Inequality Constraints: Application|
|9||Continuity of Correspondence|
|10||The Maximum Theorem: Theory|
|11||The Maximum Theorem: Application|
|12||Introduction of Dynamic Programming / Revision|
TUTORIALS: Sign up for tutorials will be available on the Wattle course site where more details can be found in O-week. Tutorials will be delivered through pre-recorded videos plus live Zoom sessions. First, on the day before the live Zoom session, the lecturer will post pre-recorded videos in which the lecturer will go over the solutions of the tutorial questions. Then in the live Zoom session the lecturer will go over the solutions again and also answer students’ questions.
|Assessment task||Value||Learning Outcomes|
|Mid-semester Exam||30 %||1,2,3|
|Final Exam||65 %||1,2,3|
|Wattle online quiz||5 %||1,2,3|
* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details
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
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 Academic Integrity . In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.
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: Due to travel restrictions this course will be delivered through online platforms. All the lectures will be delivered through pre-recorded videos. Aspects of the delivery will be asynchronous. However, there will be synchronous activities also taking place. Details on the delivery of this course and expectations of student participation are outlined in further detail on the Wattle course site in O-week.
See Assesment Tasks above.
Assessment Task 1
Learning Outcomes: 1,2,3
The mid-semester exam will be held online in the format of "Wattle Quiz" in week 6 or 7 depending on the University's exam schedule, covering course materials from week 1 to week 5. The exam will be 2 hours long. The exam will be made up of Multiple Choice Questions and Short Answer Questions. For the Short Answer Questions, students can either answer directly using the text-editing tools provided in the exam or upload scanned images of their answers. Further information will be announced in lecture by Week 4.
Assessment Task 2
Learning Outcomes: 1,2,3
The final exam will be held online in the final exam period. The exam will be 2.5 hours long. The exam will be made up of Multiple Choice Questions and Short Answer Questions. For the Short Answer Questions, students can either answer directly using the text-editing tools provided in the exam or upload scanned images of their answers. Further information regarding coverage etc. will be provided in lecture no later than week 9.
Assessment Task 3
Learning Outcomes: 1,2,3
Wattle online quiz
A quiz in the form of multiple choice questions will given through Wattle on Week 5. The quiz will cover course materials taught from Week 1 to Week 3. There will be 3 questions and it will take 20 minutes. The final timing of the quiz will be announced no later than Week 3. The quiz result will be released after the quiz closes.
Academic integrity is a core part of the ANU culture as a community of scholars. At its heart, academic integrity is about behaving ethically, committing to honest and responsible scholarly practice and upholding these values with respect and fairness.
The ANU commits to assisting all members of our community to 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 be familiar with the academic integrity principle and Academic Misconduct Rule, 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 Academic Misconduct Rule is in place to promote academic integrity and manage academic misconduct. Very minor breaches of the academic integrity principle may result in a reduction of marks of up to 10% of the total marks available for the assessment. The ANU offers a number of online and in person services to assist students with their assignments, examinations, and other learning activities. Visit the Academic Skills website for more information about academic integrity, your responsibilities and for assistance with your assignments, writing skills and study.
You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) submission must be through Turnitin.
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.
Individual assessment tasks may or may not allow for late submission. Policy regarding late submission is detailed below:
- Late submission not permitted. If submission of assessment tasks without an extension after the due date is not permitted, a mark of 0 will be awarded.
- Late submission permitted. Late submission of assessment tasks without an extension are penalised at the rate of 5% of the possible marks available per working day or part thereof. Late submission of assessment tasks is not accepted after 10 working days after the due date, or on or after the date specified in the course outline for the return of the assessment item. Late submission is not accepted for take-home examinations.
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.
Extensions and Penalties
Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. Extensions may be granted 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.
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
Industrial Organization; Health Economics
Dr Yijuan Chen
Dr Yijuan Chen