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

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:

Chiang and Wainwright: Fundamental Methods of Mathematical Economics, McGraw-Hill, Fourth Edition, 2005.

Simon, C. P., and Blume, L. (1994). Mathematics for Economists (Vol. 7). New York: Norton.

Sydsæter, K., P. Hammond, A. Seierstad, and A. Strom. Further Mathematics for Economic Analysis. Pearson education, 2008.

De la Fuente, A. (2000). Mathematical Methods and Models for Economists. Cambridge University Press.

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.)
2	Mappings, Functions, and Correspondences. (Week 2.)	Assignment 1
3	Sequences, Series, and Limits. (Week 3.)
4	Univariate Differential Calculus Part 1. (Week 4.)	Assignment 2
5	Univariate Differential Calculus Part 2. (Week 5.)
6	Matrix Algebra Part 1. (Week 6.)
7	Matrix Algebra Part 2. (Week 7.)
8	Multivariate Differential Calculus Part 1. (Week 8.)
9	Multivariate Differential Calculus Part 2. (Week 9.)	Assignment 3
10	Optimisation. (Week 10.)
11	Univariate Integral Calculus. (Week 11.)	Assignment 4
12	Review (Week 12.)

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
Assessment 1	5 %	10/03/2023	20/03/2023	1, 2, 3, 4, 5.
Assignment 2	5 %	24/03/2023	02/04/2023	1, 2, 3, 4, 5.
Assignment 3	5 %	05/05/2023	15/05/2023	1, 2, 3, 4, 5.
Assignment 4	5 %	19/05/2023	29/05/2023	1, 2, 3, 4, 5.
Mid-term Exam	30 %	*	*	1, 2, 3, 4, 5.
Final Exam	50 %	*	*	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

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

Assessment 1

Students solve problems using theory covered in the course, and the problems are designed to develop their analytical skills.  Late submissions not permitted without extensions. Questions to be released one week prior to the due date; assignment submitted through Turnitin. Solutions will be discussed in the following tutorials.

Assessment Task 2

Assignment 2

Students solve problems using theory covered in the course, and the problems are designed to develop their analytical skills.  Late submissions not permitted without extensions. Questions to be released one week prior to the due date; assignment submitted through Turnitin. Solutions will be discussed in the following tutorials.

Assessment Task 3

Assignment 3

Students solve problems using theory covered in the course, and the problems are designed to develop their analytical skills.  Late submissions not permitted without extensions. Questions to be released one week prior to the due date; assignment submitted through Turnitin. Solutions will be discussed in the following tutorials.

Assessment Task 4

Assignment 4

Students solve problems using theory covered in the course, and the problems are designed to develop their analytical skills.  Late submissions not permitted without extensions. Questions to be released one week prior to the due date; assignment submitted through Turnitin. Solutions will be discussed in the following tutorials.

Assessment Task 5

Mid-term Exam

The mid-semester exam will be held online in the format of "Wattle Quiz" in week 6 or 7 depending on the University's exam schedule, covering course materials from week 1 to week 5. The exam will be 2 hours long. The exam will be made up of Multiple Choice Questions and Short Answer Questions. For the Short Answer Questions, students can either answer directly using the text-editing tools provided in the exam or upload scanned images of their answers. Further information will be announced in lecture by Week 4.

Assessment Task 6

Final Exam

The final exam will be held online in the final exam period. The exam will be 2.5 hours long. The exam will be made up of Multiple Choice Questions and Short Answer Questions. For the Short Answer Questions, students can either answer directly using the text-editing tools provided in the exam or upload scanned images of their answers. Further information regarding coverage etc. will be provided in lecture no later than week 10.

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