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Unit of study_

ECON5005: Quantitative Tools for Economics

This unit of study aims to enhance mathematical ability to provide a skill set that enables students to thrive in their study of economics. Themes such as algebra, the plotting of points, lines, and functions in two and three dimensional space, differential calculus and simultaneous equations are the basis on which the skills are taught.


Academic unit Economics
Unit code ECON5005
Unit name Quantitative Tools for Economics
Session, year
Semester 1, 2021
Attendance mode Normal day
Location Remote
Credit points 6

Enrolment rules

Available to study abroad and exchange students


Teaching staff and contact details

Coordinator Vladimir Tyazhelnikov,
Type Description Weight Due Length
Final exam (Open book) Type C final exam Final exam
Multiple choice and structural questions
50% Formal exam period 2 hours
Outcomes assessed: LO1 LO2 LO3
Small test Online quiz
3% Week 03
Due date: 18 Mar 2021 at 18:00

Closing date: 18 Mar 2021
10 questions
Outcomes assessed: LO1
Small test Online quiz
3% Week 05
Due date: 01 Apr 2021 at 18:00

Closing date: 01 Apr 2021
10 questions
Outcomes assessed: LO1
In-semester test (Open book) Type C in-semester exam Mid-semester test
Multiple choice and computational questions
35% Week 07
Due date: 22 Apr 2021 at 18:00

Closing date: 22 Apr 2021
1 hour
Outcomes assessed: LO1 LO2 LO3
Small test Online quiz
3% Week 08
Due date: 29 Apr 2021 at 18:00

Closing date: 29 Apr 2021
10 questions
Outcomes assessed: LO1
Small test Online quiz
3% Week 10
Due date: 13 May 2021 at 18:00

Closing date: 13 May 2021
10 questions
Outcomes assessed: LO1
Small test Online quiz
3% Week 12
Due date: 27 May 2021 at 18:00

Closing date: 27 May 2021
10 questions
Outcomes assessed: LO1
Type C final exam = Type C final exam ?
Type C in-semester exam = Type C in-semester exam ?

Detailed information for each assessment can be found in the Canvas site for this unit.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a High distinction indicates work of an exceptional standard, a Distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range


High distinction

85 - 100



75 - 84



65 - 74



50 - 64



0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.


For more information see


Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

Special consideration

If you experience short-term circumstances beyond your control, such as illness, injury or misadventure or if you have essential commitments which impact your preparation or performance in an assessment, you may be eligible for special consideration or special arrangements.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

WK Topic Learning activity Learning outcomes
Week 01 Introduction and linear equations Lecture (3 hr)  
Week 02 Nonlinear equations Lecture (3 hr)  
Week 03 Differentiation I Lecture (3 hr)  
Week 04 Differentiation II Lecture (3 hr)  
Week 05 Partial differentiation Lecture (3 hr)  
Week 06 Optimization I Lecture (3 hr)  
Week 08 Optimization II Lecture (3 hr)  
Week 09 Integration Lecture (3 hr)  
Week 10 Matrices I Lecture (3 hr)  
Week 11 Matrices II Lecture (3 hr)  
Week 12 Dynamics Lecture (3 hr)  
Week 13 Revision and completion of unfinished topics Lecture (3 hr)  

Attendance and class requirements

  • Attendance: According to Faculty Board Resolutions, students in the Faculty of Arts and Social Sciences are expected to attend 90% of their classes. If you attend less than 50% of classes, regardless of the reasons, you may be referred to the Examiner’s Board. The Examiner’s Board will decide whether you should pass or fail the unit of study if your attendance falls below this threshold.
  • Lecture recording: Most lectures (in recording-equipped venues) will be recorded and may be made available to students on the LMS. However, you should not rely on lecture recording to substitute your classroom learning experience.
  • Preparation: Students should commit to spend approximately three hours’ preparation time (reading, studying, homework, essays, etc.) for every hour of scheduled instruction.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

All readings for this unit can be accessed on the Library eReserve link available in the Canvas site for this unit.

  • Recommended textbook: Ian Jacques [2015], Mathematics for Economics and Business, Eight Edition, Pearson. [IJ] 
  • Recommended textbook: Knut Sydsaeter, Peter Hammond, Arne Strom, and Andrés Carvajal, Essential Mathematics for Economic Analysis 5-th edition, Pearson

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University’s graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. demonstrate a sound understanding of most of the mathematical techniques relevant to advanced micro and macroeconomic
  • LO2. demonstrate both a formal and intuitive understanding of the results generated by these techniques, how they relate to underlying assumptions, and how they may change as a result of varying those assumptions
  • LO3. possess a solid foundation for the subsequent application of these techniques to micro and macroeconomic analysis.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
No changes have been made since this unit was last offered


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