ECON 1010 - Introduction to Mathematical Economic (Advanced) I
North Terrace Campus - Semester 2 - 2015
General Course Information
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 Available for Study Abroad and Exchange Y 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 Coordinator: Dr Virginie MassonLocation: Room 4.08, 10 Pulteney Street
Telephone: 8313 4930
Office Hours: TBA (See MyUni)
Note: Preferred method of contact: email.
Please do not call unless absolutely necessary.
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning OutcomesOn successful completion of this course, students will be able to:
1 - Use appropriate techniques to solve problems with calculus and linear algebra.
2 - Use Matlab at an introductory level
3 - Model economic questions as mathematical problems.
A central aim to this course is to increase "mathematical maturity", confidence and familiarity with the
types of problems that will be encounted and built upon later.
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
Required ResourcesTextbok: "Foundations of Mathematical & Computational Economics", Kamran Dadkhah, 2nd edition, Thomson South-Western (Cengage Learning).
NOTE: The e-book is available from the University of Adelaide library.
Recommended ResourcesMathematics for Economists.Simon, Carl P and Lawrence Blume. (1994) W.W.Norton
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 LearningThis 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 ModesLECTURES: 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 workshops and tutorials.
WORKSHOPS: Two-hour workshops will be held weekly. Sessions will be interactive and there will be no recordings. There will be a quiz at the beginning of each session that will count towards the course assessment. The quiz will be related to the online material you were asked to study beforehand. We will then discuss the online material in depth and solve some of the exercises. You will be asked to provide some of the solutions on the board as part of the participation component. The main purpose of the workshops is to deepen your understanding of the online material and receive feedback.
TUTORIALS: One hour tutorial will be held weekly where you will be given the opportunity to do more practice exercises.
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. This activity will be part of the overall assessment of the course, and no preparation is required. You will be asked to answer a number of questions related to a contemporary economic article that you will be provided with during the session. The work will be performed in small groups and you will be given ample opportunity to express your own views and share your knowledge with others.
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 workshops and all one-hour tutorials. Students are also expected to commit approximately 8 to 10 hours to additional private study. This includes studying the online material provided and preparing the exercises for the workshops and tutorials.
Learning Activities Summary
Details regarding the learning activities will be available in the weekly study plans on MyUni.
Schedule Week 1 Sets, Sets operations, and Functions Week 2 Sequences and Series Week 3 Permutations, Factorial, Combinations, and the Binomial Expansion Week 4 Logarithm, Exponential Functions and Mathematical Proof Week 5 Vectors and Matrices - Part 1 Week 6 Vectors and Matrices - Part 2 Week 7 Differentiation: Functions of One Variable - Part 1 Week 8 Class Test (Thursday during Lecture Time) Mid Semester Break Week 9 Differentiation: Functions of One Variable - Part 2 Week 10 Differentiation: Functions of Several Variables Week 11 Integration Week 12 Review for Final Exam
Small Group Discovery ExperienceSmall Group Discovery Experience - These sessions are in addition to the weekly workshops and tutorials. It is aimed at applying mathematical methods to contemporary economic problems and 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).
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment SummaryMid semester test 15% - week 8 [Learning Outcome 1]
Quizzes 15% - weekly [Learning Outcome 1]
Tutorial and Workshop Participation 10% - weekly [Learning Outcome 1]
Online Assignments 10% - weekly [Learning Outcome 2]
Small Group Discovery 5% - week 5 and week 10 [Learning Outcome 3]
Final Exam 45% - TBA [Learning Outcome 1]
Assessment Related Requirements1 - 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 or poor English expression.
Assessment DetailMid semester test (Week 8) - 15%
Date and time: During workshop time, same location This test will assess the topics of Weeks 1 to 7. It will consist of mathematical problems and short answer questions. NO MATERIAL PERMITTED, i.e. no calculators or books allowed.
Quizzes - 15%
Weekly - Ten quizzes, equally weighted, from Week 1 to Week 7, and Week 9 to Week 11.
Tutorial and Workshop 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/tutor will interact more actively with one another. Details on what needs to be prepared will be provided in your weekly study plans on MyUni.
Online Assignments - 10%
Weekly - You will be asked to submit a number of assignments using Matlab. Details for the assignments will be provided on MyUni. These will focus on developing your ability to use a specialised software often use in economic modelling.
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 can cover ALL the topics. It will consist of mathematical problems and short answer questions. NO MATERIAL PERMITTED, i.e. no calculators or books allowed.
Submission1 - 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 or tutor to arrange the collection of your quiz.
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.Additional Assessment
If a student receives 45-49 for their final mark for the course they will automatically be granted an additional assessment. This will most likely be in the form of a new exam (Additional Assessment) and will have the same weight as the original exam unless an alternative requirement (for example a hurdle requirement) is stated in this semester’s Course Outline. If, after replacing the original exam mark with the new exam mark, it is calculated that the student has passed the course, they will receive 50 Pass as their final result for the course (no higher) but if the calculation totals less than 50, their grade will be Fail and the higher of the original mark or the mark following the Additional Assessment will be recorded as the final result.
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.
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