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:
- 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.
Other Information
Indicative Assessment
- Assessment may consist of a Final Exam, mid-semester exam(s), quizzes, assignments or some combination thereof. See the Class Summary for details. (100) [LO 1,2,3,4,5,6]
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Workload
130 hours in total over the semester consisting of lectures, tutorials and private study time.
Inherent Requirements
Not applicable
Prescribed Texts
See Class Summary
Majors
Fees
Tuition fees are for the academic year indicated at the top of the page.
Commonwealth Support (CSP) Students
If you have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). More information about your student contribution amount for each course at Fees.
- Student Contribution Band:
- 34
- Unit value:
- 6 units
If you are a domestic graduate coursework student with a Domestic Tuition Fee (DTF) place or international student you will be required to pay course tuition fees (see below). Course tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
Where there is a unit range displayed for this course, not all unit options below may be available.
| Units | EFTSL |
|---|---|
| 6.00 | 0.12500 |
Course fees
- Domestic fee paying students
| Year | Fee |
|---|---|
| 2023 | $4560 |
- International fee paying students
| Year | Fee |
|---|---|
| 2023 | $5820 |
Offerings, Dates and Class Summary Links
ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage.
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.
First Semester
| Class number | Class start date | Last day to enrol | Census date | Class end date | Mode Of Delivery | Class Summary |
|---|---|---|---|---|---|---|
| 4411 | 20 Feb 2023 | 27 Feb 2023 | 31 Mar 2023 | 26 May 2023 | In Person | View |
Second Semester
| Class number | Class start date | Last day to enrol | Census date | Class end date | Mode Of Delivery | Class Summary |
|---|---|---|---|---|---|---|
| 7052 | 24 Jul 2023 | 31 Jul 2023 | 31 Aug 2023 | 27 Oct 2023 | In Person | View |