- Class Number 4500
- Term Code 3130
- Class Info
- Unit Value 6 units
- Mode of Delivery In Person
- Dr Tue Gorgens
- Dr Tue Gorgens
- Class Dates
- Class Start Date 22/02/2021
- Class End Date 28/05/2021
- Census Date 31/03/2021
- Last Date to Enrol 01/03/2021
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.
Upon successful completion, students will have the knowledge and skills to:
- demonstrate an understanding of mathematical techniques discussed;
- be able to formulate economic problems in mathematical terms and apply the tools provided to analyse them correctly and precisely;
- demonstrate an understanding of the common functional forms and rules used in derivatives and integrals of functions that frequently appear in economic models;
- apply the basic principles of maximisation and minimisation to optimisation problems in economics and find the correct solutions to these problems;
- apply matrix algebra to simple economic problems and linear models, demonstrating the ability to solve linear systems of equations in matrix form;
- 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.
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. (Referred to as "SHSC".) We expect to cover chapters 1-11, bits of 12, 15-16.
Pearson's MyLab. 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.
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.
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||Quick review of logic, set theory, algebra, and equations||MyLab quiz.|
|2||Matrix and vector algebra||MyLab quiz.|
|3||Determinants and inverse matrices||MyLab quiz.|
|4||Functions of one variable||MyLab quiz.|
|5||Properties of functions||MyLab quiz.|
|8||Derivatives in use||MyLab quiz.|
|9||Single-variable optimisation||MyLab quiz.|
|11||Topics in financial mathematics||MyLab quiz.|
|12||Functions of many variables||MyLab quiz. Final exam.|
Tutorials this semester will be delivered both remotely (via Zoom) and on-campus. You are expected to attend one tutorial each week from Week 2 onwards. You must enrol in a tutorial using the Wattle site for this course, and attend the tutorial in which you are enrolled. A selection of tutorials will be open for enrolment prior to the beginning of the semester, and the remaining tutorials will be open in week 1 of Semester. When tutorials are available for enrolment, follow these steps:
1. Log on to Wattle, and go to the course site
2. Click on the link “Tutorial enrolment”
3. On the right of the screen, click on the tab “Become Member of…..” for the tutorial class you wish to enter
4. Confirm your choice
If you need to change your enrolment, you will be able to do so by clicking on the tab “Leave group….” and then re-enrol in another group. You will not be able to enrol in groups that have reached their maximum number. Please note that enrolment in ISIS must be finalised for you to have access to Wattle.
|Assessment task||Value||Learning Outcomes|
|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
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:
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.
Due to travel restrictions this course will be largely delivered through online platforms. Aspects of the delivery will be asynchronous. Attendance at synchronous activities (both online and on campus), while not compulsory, is expected in line with 'Code of Practice for Teaching and Learning', clause 2 paragraph (b). Detailed information about the weekly course delivery will be posted on Wattle.
See assessment tasks 2 and 3.
Assessment Task 1
Learning Outcomes: 1,2,3,4,5,6
Weekly quizzes conducted through Pearson's MyLab. Results will be available progressively after the deadline each week. Students who do not wish to use MyLab (which is provided externally) should contact the lecturer as soon as possible to arrange alternative assessment.
Typically, the quizzes will be due on Mondays and cover the material from the preceding week. As there may be some variation due to public holidays etc., the exact due dates will be posted on Wattle. Note the first quiz is due at 12 noon on Monday 1 March 2021.
The two quizzes with the lowest marks will be ignored, and only the remaining quizzes count towards the total course mark. No late submissions will be accepted, unless with prior permission. Any quiz not submitted by the deadline will receive a mark of zero.
Assessment Task 2
Learning Outcomes: 1,2,3,4,5,6
Written online examination held during the exam period. Duration 2-3 hours, to be determined. The exam will cover SHSC chapters 1-6, 15-16. Typically the questions will involve mathematical derivations and calculations similar to the end-of-chapter exercises in the textbook. Further details will provided no later than week 4.
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.
Assessment Task 3
Learning Outcomes: 1,2,3,4,5,6
Written online examination held during the exam period. Duration 2-3 hours, to be determined. The exam will cover SHSC chapters 1-12, 15-16, with emphasis on material covered after the midsemester exam. Typically the questions will involve mathematical derivations and calculations similar to the end-of-chapter exercises in the textbook. Further details will provided no later than week 10.
The final exam will be held during the normal exam period and scheduled by ANU timetabling.
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.
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.
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.
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. 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