Skip to main content

Unit of study_

# ECON5005: Quantitative Tools for Economics

## Overview

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.

### Unit details and rules

Unit code ECON5005 Economics 6 None None None None Yes

### Teaching staff

Coordinator Guy Mayraz, guy.mayraz@sydney.edu.au

## Assessment

Type Description Weight Due Length
Final exam (Record+) Final exam
Numerical and multiple-choice questions
50% Formal exam period 2 hours
Outcomes assessed:
Small test Online quiz
n/a
3% Week 03
Due date: 19 Aug 2022 at 23:59

Closing date: 19 Aug 2022
10 questions
Outcomes assessed:
Small test Online quiz
n/a
3% Week 05
Due date: 02 Sep 2022 at 23:59

Closing date: 02 Sep 2022
10 questions
Outcomes assessed:
Small test Online quiz
n/a
3% Week 07
Due date: 16 Sep 2022 at 23:59

Closing date: 16 Sep 2022
10 questions
Outcomes assessed:
In-semester test (Record+) Mid-semester test
Numerical and multiple-choice questions
35% Week 08
Due date: 23 Sep 2022 at 18:30
1.5 hours
Outcomes assessed:
Small test Online quiz
n/a
3% Week 11
Due date: 21 Oct 2022 at 23:59

Closing date: 21 Oct 2022
10 questions
Outcomes assessed:
Small test Online quiz
n/a
3% Week 13
Due date: 04 Nov 2022 at 23:59

Closing date: 04 Nov 2022
10 questions
Outcomes assessed:
= Type B final exam
= Type B in-semester exam

### Assessment summary

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

Description

High distinction

85 - 100

Distinction

75 - 84

Credit

65 - 74

Pass

50 - 64

Fail

0 - 49

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

For more information see sydney.edu.au/students/guide-to-grades

For more information see guide to grades.

### 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.

### 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.

## Learning support

### Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

### Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

### Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

## Weekly schedule

WK Topic Learning activity Learning outcomes
Week 01 Fundamental concepts and notation Lecture (3 hr)
Week 02 Functions and equations Lecture (3 hr)
Week 03 Calculus of one variable Lecture (3 hr)
Week 04 Calculus of one variable Lecture (3 hr)
Week 05 Calculus of one variable Lecture (3 hr)
Week 06 Multivariate calculus Lecture (3 hr)
Week 07 Multivariate calculus Lecture (3 hr)
Week 09 Integration Lecture (3 hr)
Week 10 Dynamics Lecture (3 hr)
Week 11 Linear algebra Lecture (3 hr)
Week 12 Linear algebra / probability Lecture (3 hr)
Week 13 Probability and revision 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.

• Primary textbook: Ian Jacques [2018], Mathematics for Economics and Business, Ninth Edition, Pearson. [IJ]
• Also recommended: Knut Sydsaeter, Peter Hammond, Arne Strom, and Andrés Carvajal, Essential Mathematics for Economic Analysis. Fifth edition, Pearson.

## Learning outcomes

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 courses in economics
• 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
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

## Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

No changes have been made since this unit was last offered.

### Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.