ECON 1010 - Introduction to Mathematical Economic (Advanced) I

North Terrace Campus - Semester 2 - 2016

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 6 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 Staff

    Course Coordinator: Dr Virginie Masson

    Location: Room 4.29, 10 Pulteney Street
    Telephone:  8313 4926
    Email: virginie.masson@adelaide.edu.au
    Office Hours: TBA

    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.

     
  • Learning Outcomes
    Course Learning Outcomes
    On 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)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    1,2,3
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    1,3
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    3
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    2
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
    3
  • Learning Resources
    Required Resources
    Textbook: "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 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 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 (SGDE). In Week 5, you will be asked to answer a number of questions related to a contemporary economic article that you will be provided with. 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. Each group will then meet with the lecturer to discuss their findings. In Week 10, each group will then be asked to come up with their own article and series of questions. Each group will meet again meet with the lecturer to discuss their work.
    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 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
    Schedule
    Week 1 Sets, Sets operations, and Functions
    Week 2 Sequences and Series
    Week 3 Permutations, Factorial, Combinations, and the Binomial Expansion
    Week 4 Vectors and Matrices - Part 1
    Week 5 Vectors and Matrices - Part 2
    Week 6 Differentiation: Functions of One Variable - Part 1
    Week 7 Differentiation: Functions of One Variable - Part 2
    Week 8 Class Test (during Workshop Time)
    Mid Semester Break
    Week 9 Logarithm, Exponential Functions and Mathematical Proof
    Week 10 Differentiation: Functions of Several Variables
    Week 11 Integration
    Week 12 Review for Final Exam
    Details regarding the learning activities will be available in the weekly study plans on MyUni.
    Small Group Discovery Experience
    Small 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 discussed with the lecturer beforehand. 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% - week 8 [Learning Outcome 1]
     
    Quizzes 15% - weekly [Learning Outcome 1]

    Tutorial and Workshop Participation 5% - weekly [Learning Outcome 1]

    Online Assignments 10% - weekly [Learning Outcome 2]

    Small Group Discovery 15% - week 5 and week 10 [Learning Outcome 3]
                                           
    Final Exam 40% - TBA [Learning Outcome 1]

    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 55% 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 Detail
    Mid 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 - 5%
    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 - 15%
    Week 5 and Week 10 - Activity will be assessed after the second meeting with the lecturer.                                       

    Final Exam - 40%
    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.
    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 or tutor 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.

    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.
  • 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.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.