ECON 1010 - Mathematical Economics I
North Terrace Campus - Semester 2 - 2020
General Course Information
Course Code ECON 1010 Course Mathematical Economics I Coordinating Unit School of Economics Term Semester 2 Level Undergraduate Location/s North Terrace Campus Units 3 Contact Up to 4 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 Restrictions Not suitable for BCompSc, BCompGraphics or BEng(Software Engineering) students 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, sequences and series, combinatorics, set theory; univariate and multivariate calculus; matrix algebra and systems of linear equations; and applications in economic models.
Course Coordinator: Dr Yaping ShanLocation: Room 3.36, 10 Pulteney Street
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning OutcomesA 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.
On successful completion of this course, students will be able to:
- Use appropriate techniques to solve problems with calculus and linear algebra.
- Use Matlab at an introductory level.
- Model economic questions as mathematical problems.
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
Required ResourcesTextbook: "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. We will then discuss the online material in depth and solve some of the exercises. 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: This activity has evolved over the years and the details of the work required will be given during the semester. It will consist in a small project that will be submitted by the end of week 12. Last year, students were asked to prepare videos about mathematical concepts that can be quite complex to explain, and present some intuitive non-technical explanations of these concepts.
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
Teaching & Learning Activities Related Learning Outcomes Lectures 1 Workshops 1 Tutorials 1,2 Small Group Discovery Experience 3
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 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 MidTerm Test (during Workshop time) Mid Semester Break Week 9 Logarithm, Exponential Functions and Mathematical Proof Week 10 Integration Week 11 Differentiation: Functions of Several Variables 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 discussed with the lecturer beforehand. 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 Task Due Date/ Week Weight Length(Word,Time) Learning Outcomes Mid-term Test Week 8 20% 1 hour 50 minutes 1 Online assignments Weekly 25% N/A 2 Small Group Discovery Experience Week 12 15% TBA 3 Final Exam Exam period 40% 3 hours 1 Total 100%
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 - Only the best 9 out of 10 quizzes will count towards you overall average.
4 - Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process and may affect marks.
Assessment DetailMid semester test (Week 9) - 20%
Date and time: During workshop time, same location This test will assess the topics of Weeks 1 to 8. It will consist of mathematical problems and short answer questions. NO MATERIAL PERMITTED, i.e. no calculators or books allowed.
Online Assignments - 25%
Weekly - You will be asked to submit a number of assignments. Details for the assignments will be provided on MyUni.
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.
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.
3 - Matlab assignments MUST be submitted online thorugh MyUni. No other submission type will be accepted.
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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