Unit of study_

# ECOS2903: Mathematical Economics A

## Overview

This unit provides an introduction to mathematical concepts and techniques commonly employed by economists. Topics include: sets, single- and multi-variable functions, continuity, concavity and convexity, differentiation and integration, matrix algebra, unconstrained and constrained optimisation.

### Unit details and rules

Unit code ECOS2903 Economics 6 ECON2903 or MATH2070 or MATH2970 A minimum of 65% in (ECON1001 or BUSS1040 or ECON1040) and 65% in ECON1002 None None Yes

### Teaching staff

Coordinator Jiemai Wu, jiemai.wu@sydney.edu.au

## Assessment

Type Description Weight Due Length
Monitored exam

Final exam
Online, monitored with ProctorU
40% Formal exam period 2 hours
Outcomes assessed:
Assignment Problem sets (group work)
Solve 4 sets of mathematical problems with a group of your choice
24% Multiple weeks Flexible
Outcomes assessed:
Monitored test

Mid-semester test
Covers lectures 1-6. Online, monitored by ProctorU.
26% Week 08
Due date: 17 Apr 2023 at 10:00
1 hour
Outcomes assessed:
Tutorial quiz Tutorial quizzes
Work with your classmates and tutor to solve tutorial questions
10% Weekly 10-60 minutes
Outcomes assessed:

### 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 (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.

### 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.

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 Week 1: Functions Lecture and tutorial (3 hr)
Week 02 Week 2: Differentiation Lecture and tutorial (3 hr)
Week 03 Week 3: Single-variable optimisation Lecture and tutorial (3 hr)
Week 04 Week 4: Integration and applications Lecture and tutorial (3 hr)
Week 05 Week 5: Functions of many variables Lecture and tutorial (3 hr)
Week 06 Week 6: Functions of many variables Lecture and tutorial (3 hr)
Week 07 Week 7: Matrix algebra Lecture and tutorial (3 hr)
Week 08 Week 8: Mid-semester test Lecture (2 hr)
Week 09 Week 9: Determinant, concavity, and convexity Lecture and tutorial (3 hr)
Week 10 Week 10: Unconstrained multivariate optimisation Lecture and tutorial (3 hr)
Week 11 Week 11: Constrained optimisation with equality constraints Lecture and tutorial (3 hr)
Week 12 Week 12: Constrained optimisation with inequality constraints Lecture and tutorial (3 hr)
Week 13 Week 13: Final Review/Dynamic optimisation Lecture and tutorial (3 hr)

### Attendance and class requirements

Students are required to attend and participate in the weekly tutorials. Students are strongly encouraged to attend and participate in the lectures.

### 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.

Recommended textbooks:

Essential Mathematics for Economic Analysis (5th ed.) by Knut Sydsaeter, Peter Hammond, Arne Strom, and Andrés Carvajal.

Mathematics for Economists by Carl Simon and Lawrence Blume.

## 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. develop problem-solving skills
• LO2. construct logical arguments and proofs
• LO3. acquire the necessary mathematical skills to critically evaluate current research in economics and be in a position to contribute to current research

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.