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 optimisation techniques that underpin the modeling. 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 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.
This course will replace ECON6015 Optimisation Techniques for Economists in the Graduate Diploma of Economics program in 2015.
- Two midterms worth 20% eachand one end-of-semester examination (60%) (20) [LO null]
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Workload12 hours (3 lectures+1 tutorial+8 self)
Requisite and Incompatibility
Students who would like to review pre-requisite material before starting ECON6015/ECON8013 may look at textbooks such as Essential Mathematics for Economics and Business by Teresa Bradley (fourth edition 2013) or Essential Mathematics for Economic Analysis by Knut SydsÃ¦ter and Peter Hammond (fourth edition 2012).
Tuition fees are for the academic year indicated at the top of the page.
Commonwealth Support (CSP) Students
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- 6 units
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|Class start date
|Last day to enrol
|Class end date
|Mode Of Delivery
|21 Jul 2025
|28 Jul 2025
|31 Aug 2025
|24 Oct 2025