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. Have a sound knowledge of mathematical techniques discussed
2. Formulate economic problems in mathematical terms and apply the tools provided in the module for analysing them.
3. Demonstrate solid knowledge of many of the common functional forms used in economics and their derivatives
4. Apply matrix algebra to simple economic problems and models
5. Make use of some basic principles of financial arithmetic in economic and financial problems

Research-Led Teaching

Modern economic research involves either developing theoretical models or analyzing empirical data (or both). This course prepares students for the former research approach by introducing them to some major mathematical tools used in microeconomics and econometrics.

Examination Material or equipment

Nothing other than pencil and pen.

Required Resources

Solved Problems with Applications to Economics and Finance, Jose A. Rodrigues-Neto, available on Wattle for free

Recommended Resources

Sydsaeter, K. P. Hammond, A. Stroem, and A. Carvajal (2016). Essential Mathematics for Economic Analysis, 5th edition. Harlow: Pearson Education. (Main; on Chifley 2-hour reserve.)

Simon, C. P., and L. Blume (1994). Mathematics for Economists. New York: W. W. Norton&Company, Inc. (On Chifley 2-hour reserve.)

Staff Feedback

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

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

Your raw marks are computed using the weights on the assessment shown above. Your final mark may reflect some scaling from the raw marks; any scaling would preserve the rank of students.

If you are a new full-time postgraduate student of Research School of Economics, you are expected to take all of the following units in this semester: ECON7073, ECON7074, EMET7001, and STAT7055.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	The scope of mathematical models, numbers and sets
2	Algebra, functions of one variable, bijective functions, inverses
3	Functions of one variable: graphs, properties, examples in economics
4	Limits 1, and differentiation: definition and properties	Assignment 1
5	Examples and applications in economics and finance
6	Continuity, limits 2
7	Implicit differentiation, limits 3, optimisation of functions of one variable
8	More on optimisation, and integration 1: definition, properties and econ examples	Assignment 2
9	Integration 2: integration techniques and economics/finance applications
10	Vectors and functions of many variables, matrix algebra
11	Introduction to optimisation of functions of many variables, economics examples
12	Examples, applications in economics, and review for the final exam

Tutorial Registration

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 - 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 Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Assignment 1	5 %	12/08/2019	30/08/2019	1, 2, 3, 4, 5
Assignment 2	5 %	23/09/2019	14/10/2019	1, 2, 3, 4, 5
Assignment 3	90 %	31/10/2019	04/12/2019	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 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. 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

This is an on-campus course. Attendance at all teaching events, while not compulsory, is expected in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b).

 In addition, tutorials are a discussion-based class. Providing worked solutions would not effectively compensate for missing a tutorial. Students who, through unavoidable and unplanned occurrences, are unable to attend a tutorial class one week are encouraged to work through the problems and attend a consultation session for discussion and solutions.

Examination(s)

See Assessment Task 3.

Assessment Task 1

Assignment 1

5%. Students are solve problems using theory covered in the course, and the problems are designed to develop their analytical skills. Late submissions not permitted.

Expected word count: 1000. Problems will be available two weeks before the due date. More details will be available during lectures or in Wattle.

Assessment Task 2

Assignment 2

5%. Students are to solve problems using theory covered in the course, and the problems are designed to develop their analytical skills. Late submissions not permitted.

Expected word count: 1000. Problems will be available two weeks before the due date. More details will be available during lectures or in Wattle.

Assessment Task 3

Assignment 3

90%.To be held during the University exam block. The exam will cover material from the entire semester and will be three hours in duration. The exam will comprise of analytical questions, formal mathematical proofs, multiple choice mathematical-economics problems. More details will be available during lectures and on Wattle.

Academic Integrity

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.

Online Submission

N/A

Hardcopy Submission

Assignments 1 and 2 will be handdled in hard copies during lecture on the deadline day.

Late Submission

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.

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.

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.

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