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 the mathematical techniques discussed;
2. formulate economic problems in mathematical terms and apply the tools provided in the module for analysing them;
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 matrix algebra to economic problems and linear models, demonstrating the ability to solve linear systems of equations in matrix form;
5. solve economic and financial problems using principles of financial arithmetic.

Research-Led Teaching

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

Field Trips

Not applicable.

Additional Course Costs

You will need a computing device with a working web-camera that is capable of running both Zoom and Wattle for this course. The web-camera will only be required for the final exam.

Examination Material or equipment

Due to restrictions associated with the COVID-19 pandemic, there will be no "in person" examinations held by ANU in Semester Two of 2022. As such, the exam for this course will be administered online. Given this, there will be no restrictions imposed on the materials that may be used during the exam. The final exam will be invigilated over one of either Zoom or Microsoft Teams. As such, you will need to have a working web camera that is operational for the duration of the exam. You will also be required to hand-write your answers to the final exam. As such, you will need appropriate paper and writing instruments, along with either a Digital scanner or a phone or tablet with an appropriate scanning application. (ANU has some advice on how to use the "Microsoft Office Lens" application for the purpose of scanning hand-written assessment items for digital submission.)

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;
• Chiang, AC, and K Wainwright (2005), Fundamental methods of mathematical economics (fourth edition), McGraw-Hill, Singapore.
• 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;
• Simon, CP, and L Blume (1994), Mathematics for economists, WW Norton and Company, USA.
• Sydsaeter, K, P Hammond, A Seierstad, and A Strom (2005), Further mathematics for economic analysis, Prentice-Hall / Financial Times (Pearson), United Kingdom.

The ANU library has both a digital copy and at least one physical copy of Asano (20013). It has a digital copy, but no physical copies, of Bradley (2013). The ANU Library has no digital copies, but has at least one physical copy, of Chiang and Wainwright (2005), Haeussler and Paul (1987), Shannon (1995), Simon and Blume (1994), and Sydsaeter, Hammond, Seierstad, and Strom (2005). It also has a digital copy of Haeussler, EF Jr, RS Paul, and R Wood (2014), Introductory mathematical analysis for business, economics, and the life and social sciences (thirteenth edition), Pearson Education, England. I will request that all physical copies of the above 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, when multiple editions of one of these books exists, it probably does not matter which edition 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), the Hancock Library (which houses some of the ANU Library’s economics collection and most of the ANU Library’s mathematics collection), and the Law Library (which houses some of the ANU Library's economics collection). I strongly encourage you to familiarise yourself with, and make use of the resources contained in, each of these branches of the ANU Library.

Staff Feedback

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

• Graded tutorial assignments;
• Marks from, and general comments on, the online timed assignments, and
• 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). Feedback can also be provided to Course Conveners and teachers via the Student Experience of Learning & Teaching (SELT) feedback program. SELT surveys are confidential and also provide the Colleges and ANU Executive with opportunities to recognise excellent teaching, and opportunities for improvement.

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.

• Three hours a week for lectures.
• One hour a week for tutorials (except for week one).
• At least six hours a week for reading, research, writing, lecture preparation, tutorial preparation, and revision.

Required Equipment

You will need an appropriate computing device and good access to the internet for this course. The computing device should be capable of running Zoom and accessing the Wattle site for this course simultaneously.

Teaching Arrangements

Lectures

Lectures in this course will be "live" events that are held on the ANU campus in Canberra. Recordings of the lectures will be made using the ECHO360 system and posted to the ECHO360 site for this course. This ECHO360 site will be accessible via a link from the Wattle site for this course. Please note that the lecture recordings might well be an imperfect substitute for attendance at the lectures.(The lecture recordings are simply direct recordings of the actual lectures that are being given in person. They are not separately recorded lectures.) I strongly encourage you to attend the in-person on campus lectures if you are able to do so.

Tutorials

Beginning in week two, there will be a weekly tutorial held in this course. Tutorials in this course will be "live" events. Some of them will be held in-person on the ANU campus in Canberra. In order to facilitate remote participation, at least one tutorial will be held over Zoom. Please note that the tutorials will not be recorded.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Sets, Numbers, Coordinates, and Distances. (Week 1.)	Assessment: No assessment items in Week 1. Reading: 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	Mappings, Functions, and Correspondences. (Week 2.)	Assessment: No assessment items in Week 2. Reading: 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. (Week 3.)	Assessment: Tutorial Assignment 1 due (worth 2 %). Reading: 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. (Week 4.)	Assessment: Timed Online Assignment 1 held (worth 10 %). Reading: 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 Part 1. (Week 5.)	Assessment: Tutorial Assignment 2 due (worth 2 %). Reading: 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	Univariate Differential Calculus Part 2. (Week 6.)	Assessment: No assessment items in Week 6. Reading: 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.
7	Linear Algebra Part 1. (Week 7.)	Assessment: Tutorial Assignment 3 due (worth 2 %). Reading: 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.
8	Linear Algebra Part 2. (Week 8.)	Assessment: Timed Online Assignment 2 held (worth 10 %). Reading: 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.
9	Multivariate Differential Calculus Part 1. (Week 9.)	Assessment: Tutorial Assignment 4 due (worth 2 %). Reading: 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.
10	Multivariate Differential Calculus Part 2. (Week 10.)	Assessment: No assessment items in Week 10. Reading: 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.
11	Optimisation. (Week 11.)	Assessment: Tutorial Assignment 5 due (worth 2 %). Reading: 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.
12	Univariate Integral Calculus. (Week 12.)	Assessment: Timed Online Assignment 3 held (worth 10 %). Reading: 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.
13	Final Exam Period.	Assessment: Final Exam (worth 60 %).

Tutorial Registration

ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to tutorials so they can better plan their time. Find out more on the Timetable webpage. https://www.anu.edu.au/students/program-administration/timetabling].

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Fortnightly Tutorial Assignments.	10 %	08/08/2022	15/08/2022	1, 2, 3, 4, 5.
Timed Online Assignment 1.	15 %	25/08/2022	26/08/2022	1, 2, 3, 4, 5.
Timed Online Assignment 2.	15 %	27/10/2022	28/10/2022	1, 2, 3, 4, 5.
Final Exam.	60 %	03/11/2022	02/12/2022	1, 2, 3, 4, 5.

* 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 Integrity Rule before the commencement of their course. Other key policies and guidelines include:

• Academic Integrity Policy and Procedure
• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Guideline and General Information 
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure
• Code of practice for teaching and learning

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 Academic Skills website. 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

• You will not be assessed on either attendance or participation in this course. Nonetheless, both attendance and active participation might well enhance your enjoyment of the course and your understanding of the material covered in the course.
• Lectures in this course will be live events that are held on the ANU campus in Canberra. Recordings of lectures will be made using the ECHO360 system and posted to the ECHO360 site for this course. Please note that the lecture recordings might well be an imperfect substitute for attendance at the lectures. I strongly encourage you to attend the in-person on campus lectures if you are able to do so.
• Tutorials in this course will be "live" events. Some of them will be held in-person on the ANU campus in Canberra. In order to facilitate remote participation, at least one tutorial will be held over Zoom. Please note that the tutorials will not be recorded.

Examination(s)

Please see the information for assessment item 5 above.

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 in Canberra. If the Monday is a public holiday in Canberra, 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 the course email address (EMET7001@anu.edu.au). 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.
• Each of these five tutorial assignments will be worth 2 % of your overall mark for this course. This means that this assessment component is worth 10 % of your mark for this course in total.
• We will endeavour 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).
• Each tutorial assignment will be allocated a non-negative integer mark out of four. A mark of four will be awarded to very good answers for the selected question. These are "high distinction" level answers. A mark of three will be awarded to good, but not very good, answers for the selected question. These are either "distinction" or "upper-end credit" level answers. A mark of two will be awarded to alright, but not good, answers for the selected question. These are either "lower-end credit" or "pass" level answers. A mark of one will be awarded to poor answers for the selected question. These are "fail" level answers. A mark of zero will only be awarded if no answer is submitted for the selected question.
• All learning outcomes are relevant for this assessment task.

Assessment Task 2

Timed Online Assignment 1.

• This will be a one-hour long timed assignment that is administered online through the Wattle site for the course.
• It will consist of some number of questions. The questions might be of the multiple choice, true or false (or possibly true or false or ambiguous), or single numeric answer variety, or some mixture of these question varieties.
• The assignment will become available at precisely 7:00:00 pm Canberra time on Thursday 25 August 2022. You will be able to submit your answers from this point in time until precisely 8:00:00 pm Canberra time on Thursday 25 August 2022.
• No late submissions will be accepted. Any assignments that are not submitted by the due date and time will receive a mark of zero.
• This timed online assignment will be worth 15 % of your raw overall mark for this course.
• You should attempt the questions in the order that you encounter them, as you will not be able to return to questions (that is, navigate backwards) on this assignment.
• This assessment item will potentially include material from the first four weeks of lectures, the first three tutorials, and all associated readings.
• All learning outcomes are relevant for this assessment task.
• We will endeavour to release marks and some general feedback for this assessment item via the Wattle link for this assessment item by 5:00:00 pm Canberra time on Friday 26 August 2022.

Assessment Task 3

Timed Online Assignment 2.

• This will be a one-hour long timed assignment that is administered online through the Wattle site for the course.
• It will consist of some number of questions. The questions might be of the multiple choice, true or false (or possibly true or false or ambiguous), or single numeric answer variety, or some mixture of these question varieties.
• The assignment will become available at precisely 7:00:00 pm Canberra time on Thursday 27 October 2022. You will be able to submit your answers from this point in time until precisely 8:00:00 pm Canberra time on Thursday 27 October 2022.
• No late submissions will be accepted. Any assignments that are not submitted by the due date and time will receive a mark of zero.
• This timed online assignment will be worth 15 % of your raw overall mark for this course.
• You should attempt the questions in the order that you encounter them, as you will not be able to return to questions (that is, navigate backwards) on this assignment.
• This assessment item will potentially include material from the first eleven weeks of lectures, all eleven tutorials, and all associated readings.
• All learning outcomes are relevant for this assessment task.
• We will endeavour to release marks and some general feedback for this assessment item via the Wattle link for this assessment item by 5:00:00 pm Canberra time on Friday 28 October 2022.

Assessment Task 4

Final Exam.

• As ANU is still facilitating remote participation in courses in Semester Two of 2022, due to the ongoing complications arising from the COVID-19 pandemic, the final exam will be implemented online through a combination of the Wattle site for the course and Zoom.
• 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. It will involve a three hours and forty-five minute exam period in total. This will consist of fifteen minutes of reading time, three hours of writing time, and thirty minutes for scanning, compilation, and submission.
• No writing will be permitted during the reading time.
• No writing will be permitted during the "scanning, compilation, and submission" time.
• There will be no restriction on permitted materials for this exam.
• The exam will be invigilated over Zoom. You will be required to have a working web-camera that is turned on during the duration of the total exam period (including reading time; writing time; and scanning, compilation, and submission time). Both your work area and yourself will need to be in view during this time.
• Your exam must be neatly hand-written. It must not be typed.
• 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 final exam is worth 60 % of your overall mark for this class.
• You will be able to request a breakdown of your mark for the final exam by question (and by each part of each question) 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 the ANU culture as a community of scholars. The University’s students are an integral part of that community. The academic integrity principle commits all students to engage in academic work in ways that are consistent with, and actively support, academic integrity, and to uphold this commitment by behaving honestly, responsibly and ethically, and with respect and fairness, in scholarly practice.

The University expects all staff and students to be familiar with the academic integrity principle, the Academic Integrity Rule 2021, the Policy: Student Academic Integrity and Procedure: Student Academic Integrity, and to uphold high standards of academic integrity to ensure the quality and value of our qualifications.

The Academic Integrity Rule 2021 is a legal document that the University uses to promote academic integrity, and manage breaches of the academic integrity principle. The Policy and Procedure support the Rule by outlining overarching principles, responsibilities and processes. The Academic Integrity Rule 2021 commences on 1 December 2021 and applies to courses commencing on or after that date, as well as to research conduct occurring on or after that date. Prior to this, the Academic Misconduct Rule 2015 applies.

 

The University commits to assisting all students to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. All coursework students must complete the online Academic Integrity Module (Epigeum), and Higher Degree Research (HDR) students are required to complete research integrity training. The Academic Integrity website provides information about services available to assist students with their assignments, examinations and other learning activities, as well as understanding and upholding academic integrity.

Online Submission

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.

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 in this course. If an assessment task is not submitted by the due date and time, a mark of 0 will be awarded.

Referencing Requirements

The Academic Skills website has information to assist you with your writing and assessments. The website includes information about Academic Integrity including referencing requirements for different disciplines. There is also information on Plagiarism and different ways to use source material.

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. 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.

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 Access 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