ECON 1010 - Introduction to Mathematical Economic (Advanced) I

North Terrace Campus - Semester 2 - 2014

This course focuses on the mathematical methods and models that are required to understand current economics and to investigate economic models. Topics may include limits, open sets and spaces; univariate and multivariate calculus; matrix algebra and systems of linear equations; and applications in important economic models.

  • General Course Information
    Course Details
    Course Code ECON 1010
    Course Introduction to Mathematical Economic (Advanced) I
    Coordinating Unit School of Economics
    Term Semester 2
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Up to 3 hours per week
    Incompatible MATHS 1009, MATHS 1010, MATHS 1013, MATHS 1011 and MATHS 1012
    Assumed Knowledge Satisfactory level of achievement in SACE Stage 2 Math Methods, Math Studies, Specialist Math or equivalent
    Course Description This course focuses on the mathematical methods and models that are required to understand current economics and to investigate economic models. Topics may include limits, open sets and spaces; univariate and multivariate calculus; matrix algebra and systems of linear equations; and applications in important economic models.
    Course Staff

    Course Coordinator: Dr Virginie Masson

    Location: Room 4.08, 10 Pulteney Street
    Telephone:  8313 4930
    Email: virginie.masson@adelaide.edu.au
    Office Hours: Tuesdays 4-5pm

    Note: Preferred method of contact: email.
             Please do not call unless absolutely necessary.
    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

    LECTURES: There will be no face-to-face lectures for this course, however, you will be asked to read and study some online material and prepare some exercises for the tutorial.

    TUTORIALS: Two-hour tutorials will be held weekly, on Thursdays from 12pm-2pm. THERE WILL BE NO RECORDING and attendance is mandatory. There will be a quiz at the beginning of each session that will count towards the course assessement. There will also be a participation component. Please refer to the assessment section for more details.

    SMALL GROUP DISCOVERY: Twice during the semester, in Week 5 and Week 10, we will meet to apply the knowledge you acquired in this course to real economic problems. There will be no recoding available, and the activity will be part of the overall assessment of the course.
  • Learning Outcomes
    Course Learning Outcomes
    By the end of this course, you should be able to:

    1 - Model economic questions as mathematical problems.

    2 - Learn techniques for solving common economic problems with calculus and linear algebra.

    3 - Increase "mathematical maturity", confidence and familiarity with the types of problems that will be encounted and built upon later.

    4 - Use Matlab (introductory level).

    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Knowledge and understanding of the content and techniques of a chosen discipline at advanced levels that are internationally recognised. 1,2,3
    The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner. 1,2,3
    An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems. 1,2,3,4
    A proficiency in the appropriate use of contemporary technologies. 4
    A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life. 3
  • Learning Resources
    Required Resources
    Textbok: "Foundations of Mathematical & Computational Economics", Kamran Dadkhah, 1st edition, Thomson South-Western (Cengage Learning).
    Recommended Resources
    Mathematics for Economists.Simon, Carl P and Lawrence Blume. (1994) W.W.Norton

    Note:
    Numerous books with similar topics are available at the University of Adelaide library. Choose the book that suits you best. Textbooks aimed at economists are probably best. Be aware that notations may differ.
    Online Learning
    This course uses MyUni intensively to provide you with lectures notes, videos, assignments, etc. You are thus required to check the MyUni website regularly.


  • Learning & Teaching Activities
    Learning & Teaching Modes
    LECTURES: There will be no face-to-face lectures and you will be asked to study the material on your own before attending the tutorials. Lectures notes, videos and other material will be available the week prior to the tutorial.

    TUTORIALS: Exercises to be prepared for the tutorial will be posted online. You are required to prepare ALL the exercises. During the tutorial, some students will be asked to come to the board and present their work. The presentation will be evaluated and part of the participation component.

    SMALL GROUP DISCOVERY: There is no preparation required for this component, and the activity wil be revealed on the day.
    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    Students in this course are expected to attend all two-hour tutorials and devote at least one hour weekly to review the online material provided.  Students are also expected to commit approximately 8 to 10 hours to additional private study.
    Learning Activities Summary
    Schedule
    Week 1 Sets, Sets operations, and Functions 2.1 and 2.2
    Week 2 Series 2.3
    Week 3 Permutations, Factorial, Combinations, and the Binomial Expansion 2.4
    Week 4 Logarithm, Exponential Functions and Mathematical Proof 2.5 and 2.6
    Week 5 Matrices - Part 1 4.2 and 4.3
    Week 6 Matrices - Part 2 4.3 and 4.4
    Week 7 Differentiation: Functions of One Variable - Part 1 6.1, 6.2 and 6.3
    Week 8 Class Test (Thursday during Lecture Time)
    Mid Semester Break
    Week 9 Differentiation: Functions of One Variable - Part 2 6.4, 6.5 and 6.6
    Week 10 Differentiation: Functions of Several Variables 7.1 and 7.2
    Week 11 Integration 11.1 and 11.2
    Week 12 Review for Final Exam
    Small Group Discovery Experience
    Small Group Discovery Experience - An activity aimed at applying mathematical methods to contemporary economic problems will be undertaken in Week 5 and Week 10. Details of the activity will be revealed on the day. The activity will be part of the overall course assessement (See the Assessment section for more details).
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    Mid semester test  15%
     
    Quizzes 15%

    Tutorial Participation 10%

    Assignments 10%

    Small Group Discovery 5%
                                           
    Final Exam 45%

    Assessment Related Requirements
    1 - Failure to sit the midterm examination will result in receiving zero points, whether a medical certificate is provided or not. The grade of the final examination will then account for 60% of the overall grade.

    2 - To gain a pass, a mark of at least 45% must be obtained on the final examination as well as a total of at least 50% overall. 

    3 - If you are not able to attend tutorials for some medical reasons, you must provide a medical certificate. If the medical certificate covers a period longer than a week, you will need to organise some other arrangements with the lecturer in charge.  The same applies if you provide more than two medical certificates during the semester.The only medical reports that are acceptable are from the Australian registered medical practitioners. The list of these practitioners are at www.ahpra.gov.au.

    4 - Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process. Marks may be deducted in the midterm and final examinations because of poor hand-writing.
    Assessment Detail
    Mid semester test  (Week 8)  - 15%
    Date and time: Thursday 18 September – During lecture time, same location This test will assess the topics of Weeks 1 to 7. It will consist of mathematical problems and short answer questions.

    Quizzes - 15%
    Weekly - Ten quizzes, equally weighted, from Week 1 to Week 7, and Week 9 to Week 11. 

    Tutorial Participation - 10%
    Weekly - You will be asked to prepare some exercises before going to your tutorial. Please be aware that  this preparation is important as it will improve your learning during the tutorial and will contribute  towards a dynamic environment where students and lecturer will interact more actively with one another.

    Assignments - 10%
    TBA - You will be asked to submit a number of assignments using Matlab. Details for the assignments will be provided on MyUni.

    Small Group Discovery - 5%
    Week 5 and Week 10 - Activity will be assessed at the end of the session.                                       

    Final Exam - 45%
    There will be a 3 hour exam. The final exam is comprehensive, i.e. it covers ALL the topics.
    Submission
    1 - Extensions and alternative assessment conditions: It is your responsibility to contact the lecturer in the first 2 weeks of the semester to discuss extension or alternative assessment options. This applies to ALL students, included but not limited to those registered with the disability centre or the elite athletes program.

    2 - Quizzes will be handed back during tutorial times. If you were not present during that time, please email the lecturer to arrange the collection of your quiz.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

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