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EMET1001

Foundations of Economic and


Financial Models
Course Description
The course teaches the mathematical foundations of models in economics, business and
finance and its applications. Mathematical topics covered include set theory, functions,
series, limits, univariate and multivariate calculus, unconstrained and constrained
optimization, and matrix algebra. Applications include production functions, average and
marginal cost functions, and profit maximization.
Semester and Year
Mode of Delivery
Incompatible Courses
Course Instructor
Office Location:
Phone:
Email:
Consultation hours:
Tutor(s) (optional)

Student Administrators

Semester 2, 2014
On campus
Incompatible with STAT1006 and EMET7001
Idione Meneghel
2007 HW Arndt Building (25A)
+61 2 612 52216
idione.meneghel@anu.edu.au
Thu 1pm 2pm
Head tutor:
Dana Hanna
2002 HW Arndt Building (25A)
dana.hanna@anu.edu.au
Terry Embling
1013 HW Arndt Building (25A)
terry.embling@anu.edu.au
Hours: 9am 4pm

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COURSE OVERVIEW
Course Learning Outcomes
By the end of the course students will:

Have a sound understanding of mathematical techniques discussed.

Formulate economic problems in mathematical terms and apply the tools provided in
the module for analyzing them.

Demonstrate an understanding of many of the common functional forms used in


economics.

Apply the basic principles of maximization and minimization to optimization problems.

Apply matrix algebra to simple economic problems and models.

Make use of some basic principles of financial arithmetic in economic and financial
problems.

Requisites
High school math
(Please check the ANU College of Business and Economics 2013 Undergraduate Programs
Handbook for the math requirements for the Bachelor of Commerce, the Bachelor of
Economics, the Bachelor of Finance, and the Bachelor of International Business.)
Student Feedback
All CBE courses are evaluated using Student Experience of Learning and Teaching (SELT)
surveys, administered by Planning and Statistical Services at the ANU. These surveys are
offered online, and students will be notified via email to their ANU address when surveys are
available in each course. Feedback is used for course development so please take the time
to respond thoughtfully. Course feedback is anonymous and provides the Colleges,
University Education Committee and Academic Board with opportunities to recognise
excellent teaching and to improve courses across the university. For more information on
student surveys at ANU and reports on feedback provided on ANU courses, visit
http://unistats.anu.edu.au/surveys/selt/students/ and
http://unistats.anu.edu.au/surveys/selt/results/learning/.
READING LIST
Textbook
Sydsaeter, K., Hammond, P. and Strom, A. (2012). Essential Mathematics for Economic
Analysis. Pearson, 4th edition.

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COURSE SCHEDULE
Week Summary of Activities
1

Review: algebra and equations

Functions of one variable

Properties of functions

Calculus 1: differentiation

Review and midterm exam 1

Calculus 2: differentiation

Calculus 3: optimization

Calculus 4: integration

Review and midterm exam 2

10

Calculus 5: functions of many variables

11

Matrix algebra 1

12

Matrix algebra 2

13

Special topics and review

COURSE ASSESSMENT
Assessment Summary
Item Title
1 Tutorial questions

Value
10%

Midterm exam 1

20%

Midterm exam 2

30%

Final exam

40%

Due Date
Weekly
Tue 11am
In class
21/08/2014
In class
02/10/2014
Exam period

Assessment Task 1: Tutorial questions


Details of task:
In the beginning of each week, students are expected to submit that weeks tutorial
questions. The tutorial questions will be assessed and handed back to students, to provide
feedback on their progress. The tutorial questions will be graded generously.
Assessment Tasks 2 and 3: Midterm exams
Details of task:
Each exam covers the material from week 1 up to the week before the exam. Participation in
the midterm exam is compulsory. Each exam will be marked out of 100. No make-up
midterm examination will be offered. If a student misses the midterm exam for a valid reason
(see ANU policies on special examinations below), his or her grade will be based solely on
the other assessment components (with a re-scaling of the weights).
Assessment Task 4: Final exam
Details of task:
Examinable material covers the whole semester, including material already covered in the
midterm exams. Participation in the final exam is compulsory. The exam will be marked out

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of 100. The final exam will be held in the exam period at the end of the semester. Details will
be posted on the ANU exam timetable site.
TUTORIAL REGISTRATION
In addition to lectures, students are expected to attend weekly tutorials (weeks 2 through
13). During each tutorial, the tutor will develop and present solutions to selected exercises in
cooperation with students. Solutions will not be made available in any other form.
Allocation to tutorial groups will be made via the ETA (Electronic Tutorial Administration)
system, which you can find at https://eta.fec.anu.edu.au.
COMMUNICATION
Administrative Enquiries
For any administrative inquiries or problems (e.g., tutorial enrolment, exam scheduling,
supplementary exams, etc.), please contact Terry Embling (School of Economics Course
Administrator) or Finola Wijnberg (School of Economics School Administrator).
Academic Enquiries
For any academic inquiries or problems regarding the course, please contact your regular
tutor. They should be able to handle most of the problems you might have. Note that email
should only be used to contact staff about administrative matters, not for instructional
purposes. Please do not expect staff to respond to emailed questions about course material.
Students are encouraged to attend consultation times for this course.
Help Desk
The EMET1001 helpdesk is by far the best and most flexible opportunity for students
seeking answers to their EMET1001 questions. Tutors will be available to help students with
any questions regarding the course material. Each week (starting week 2) the help desk will
be open for at least 4 hours. Exact days and times for each week will be announced on
Wattle.
Email
If necessary, the lecturers and tutors for this course will contact students on their official
ANU student email address. Information about your enrolment and fees from the Registrar
and Student Services' office will also be sent to this email address.
Announcements
Students are expected to check the Wattle site for announcements about this course, e.g.
changes to timetables or notifications of cancellations.
Course URLs
More information about this course may be found on:
Programs and Courses (http://programsandcourses.anu.edu.au/2014/Catalogue);
College of Business and Economics website (http://cbe.anu.edu/courses); and
Wattle (https://wattle.anu.edu.au), the University's online learning environment (log on to
Wattle using your student number and your ISIS password).

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POLICIES
The University offers a number of support services for students. Information on these is
available online from http://students.anu.edu.au/studentlife/.
ANU has educational policies, procedures and guidelines, which are designed to ensure that
staff and students are aware of the Universitys academic standards, and implement them.
You can find the Universitys education policies and an explanatory glossary at
http://policies.anu.edu.au/.
Students are expected to have read the Student Academic Integrity Policy before the
commencement of their course.
You can find more information about proper academic conduct, as well as examination
policies of the College of Business and Economics at
http://cbe.anu.edu.au/students/student-information/examinations-assessment/.

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