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Unit Outline

School of Economics and Finance College of Business and Law


Unit Name: Unit Number: Teaching Period: Year: Contents: Section A Section B Section C Section D Section E Section F

Introduction to Economic Methods 200052


Semester 1 (Autumn) 2011 General Information Unit Details Assessment Details Assignment Cover Sheet Important Information, Policies and Procedures for Students Additional Information Name: Girijasankar Mallik Phone: 9685 9664 Email: g.mallik@uws.edu.au

First point of contact for this unit is:

Section A: General Information Unit Weighting 10 (credit points) Level Level 1 Pre-requisites Not Applicable Co-requisites 200336.1 Business Academic Skill Students are responsible for ensuring they have met all relevant pre-requisites and/or co-requisites for any unit(s) in which they are currently enrolled. Units not to be Not Applicable counted for credit with Assumed Some level of mathematics in HSC Knowledge Contact Details Unit Coordinator: Dr. Girijasankar Mallik Telephone: 9685 9664 Email: g.mallik@uws.edu.au Office Location: Building: EDG, Room No: 116, Campus: Parramatta Teaching Team: Lecturer/Tutor: Telephone: Email: Office Location: Administration Support: Dr. Girijasankar Mallik 9685 9664 g.mallik@uws.edu.au Building: ED, Room No: 116, Campus: Parramatta

School of Economics and Finance Administration Email: sef@uws.edu.au Parramatta Campus: Building ED, Room G.142 Phone: 02 9685 9665 Campbelltown Campus: Building 11, Room 11.G.24 Phone: 02 4620 3224
Student Consultation Mode of Delivery and Teaching Please liaise directly with your lecturer regarding appropriate consultation times.

Contact Hours: 2 hours lecture, 1 hour tutorial every week


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Unit Name: Introduction to Economic Methods, Unit Number: 200052, Teaching Session: Sem1, 2011.

Schedule

Classes will be held over 13 sessions. The general approach will be to cover one topic per session over that period. A typical format will be an introductory lecture in mathematics followed by harder mathematics during first five lectures and statistics in the second half of the semester. For further details see the lecture/practical program attached. There will be two hours of lecture every week followed by a one hour tutorial. All informations will be discussed during the lecture and some informations will be posted on the vUWS. It will be assumed by the lecturer that all information posted on the Intranet has been seen by all students enrolled in this unit. Therefore it is imperative that students access vUWS at least twice per week during the semester. Copies of the learning guide, unit outline, where available, lecturer notes and information on the examination and assignments will be posted on the site for downloading by students. Additional information regarding assignments, examinations, any course changes, reminders of work due etc may be posted regularly to the Intranet unit page and will be discussed during the lecture. It is the studentss responsibility to access this information from vUWS, and not rely on your lecturer to make such announcements during class time. Note: tutorials will start from week 2

Attendance Requirements Essential Equipment and/or Resources Occupational Health and Safety Criminal Record Checks Immunisation Requirements Changes and Improvements to the Unit as a Result of Student Feedback

Student should attend all classes (lectures and tutorials) in order to pass the unit. It is very important to note that at their discretion, your instructor may deem you have not attended a session if you just sign the class roll and then leave the class. Please let your lecturer know if you are unable to attend any session. Scientific Calculator (the calculator must have a SD (Standard deviation) and REG/LR (regression/linear regression) function). For more information please contact your lecturer. Not Applicable Not Applicable Not Applicable Not Applicable.

Section B: Unit Details Objectives Introduction to Economic Methods will cover basic concepts in mathematics and statistics to help

their understanding of subjects like accounting, management, marketing, finance, and economics. In addition, the analytical techniques, concepts and models that will be discussed in this unit will play a foundation role in a business degree. Topics include: Differential calculus and its application in business and economics; collection, analysis and interpretation of data using simple descriptive and inferential statistical methods; probability distributions, point and interval estimation, hypothesis testing, and an introduction to regression analysis.
Outcomes

Learning Outcomes: On completing this unit students should be able to: Understand concepts of calculus and their use in describing economic concepts and solve elementary problems in unconstrained and constrained optimization as applied in business and economics. Summarize the main features of data sets using descriptive statistics Understand probability concepts and solve basic probability problems Understand the differences between discrete and continuous probability distributions Perform statistical inference involving interval estimation and hypothesis testing of statistical population parameters Carry out basic correlation and regression analysis and interpret regression resultsapply economic reasoning to make deductions about market behaviour This unit also aims at developing the following graduate attributes:

Unit Name: Introduction to Economic Methods, Unit Number: 200052, Teaching Session: Sem1, 2011.

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Effective Communication The ability to engage effectively and appropriately with information and communication technologies. Independence and Creativity The ability to work and learn independently. Critical Judgement The ability to define and analyse problems.
Content Student Workload In order to optimise the value of your learning, it is strongly advised to prepare before each session, enthusiastically participate in each session, and then reflect on each session. The amount of time spent out of class will vary for each individual, depending on competencies and proficiency in any area. An approximation is between 80-120 hours per unit, which is an average of 8-12 hours per session. Effective learning requires interaction between you, your instructor, and your peers. The better prepared you are before each session the greater the learning value from more focused questions and discussions. In addition, reflecting on what you have learned is an important process for you to confidently apply your newly learned skills. Therefore, in order to gain the most learning value from the synergistic relationship between your support materials and your specific unit material it is highly recommended you follow these steps for each Session: Before each Session 1. 2. 3. 4. Read the Support Materials lecture notes and tutorial questions. Read the Support Materials notes and answer any given questions or problems. Pre-read your Instructors Lecture notes for more detailed comprehension before and after the lecture Mark the unclear materials in the lecture notes and discuss it with your lecturer.

During each Session Enthusiastically participate in the Activities guided by your Instructor. 1. Contribute to each session with focused questions and discussions. 2. Attempt any questions and problems shown in your session. 3. Identify clearly what you know you know and what you know you dont know. 4. Ask your Instructor about any questions or problems from this or any session 5. Answer (or at least try) all tutorial questions before coming to the tutorial After each Session 1.

2.
3.

4.
5. Texts

Attempt any questions and problems advised by your Instructor. Reflect IN action (while doing these questions and problems). Review the worked solutions to questions and problems. Reflect ON action (after you have done these questions and problems). Identify clearly what you know and what you know you dont know

Prescribed Textbook: No textbook is required for the mathematics part Berenson, M. L. et al (2010). Basic Business Statistics. 2nd edition. Pearson.

Texts can be purchase from the UWS Parramatta campus bookshop. You may check the availability of book by calling the bookshop on Parramatta or Campbelltown campus.

Section C: Assessment Details


Unit Name: Introduction to Economic Methods, Unit Number: 200052, Teaching Session: Sem1, 2011. Page 3 of 10

Assessment Details

There will be four (4) types of assessment in this unit. Type of Assessment Mid-term Examination Home work (see detail in the learning guide) Final Examination (CLOSED BOOK EXAM) Timing In week 7 (week starting 11 April) Any week As scheduled by the UWS. Date and time will be advised via exam timetable. As a percent of total marks 40 10 50

Assessment requirements Students are required to attempt all tutorial questions every week. Tutor will mark only three weeks tutorial answers and best two marks will be considered. To pass this unit, a student must:

(a) (b)

achieve a overall 50% marks from all exams and assessments, and achieve a 50% in the final examination

Final marks and grades are subject to confirmation by the School and College Assessment Committee (SAC) which may scale, modify or otherwise amend the marks and grades for the unit, as may be required by University policies. Further information is provided in Section F. Assessment Requirements Formal Examinations Assignment Cover Sheet Submission of Assessment Tasks Referencing Students are required to attempt all tutorial questions every week. Tutor will mark only three weeks tutorial answers and best two marks will be considered. The total value of the final exam is 50% of the total mark. The final exam is 3 hours in duration and will contain materials covered in lecture and Prac Classes. The precise format of the final exam will be discussed in the last lecture. Answer all tutorial questions in separate sheet every week and they must be stapled See the Learning Guide.

Resubmission Late Submission Extension of Due Date for Submission of Assessment Task Special Consideration for one assessment task

The Schools referencing requirement is the HARVARD SYSTEM. More details on this method of referencing can be found in the SGSM E-Handbook under the heading References, Quotations and Bibliographies. Full details of referencing systems can also be found at: http://library.uws.edu.au/citing.phtml. A full range of resources for searching and citing references is available at: http://library.uws.edu.au/training.phtml. Students must submit the tutorial answers (if asked by the tutor) during the beginning of the tutorial Late submission of tutorial answer will not be accepted. In case of sickness or other valid reason please contact your lecturer No extension will be give unless sickness or other valid reason. In such cases please contact your lecturer

Where special consideration is sought for circumstances involving more than three consecutive days or more than five days within a teaching period, students should complete a Special Consideration Application , available from the UWS website or the Student Centre. An application for Special Consideration does not automatically mean that it will be granted.

Special Consideration for more than

For special consideration for part or the whole of the teaching session, the application should be submitted to the Unit Coordinator as soon as the student is aware that he/she has extenuating circumstances that will affect studies for the session. Application for Special Consideration are available on UWS Website
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Unit Name: Introduction to Economic Methods, Unit Number: 200052, Teaching Session: Sem1, 2011.

one assessment task in a session. Return of Assessment Material The tutor will return the mark home work as soon as they arel marked

Section D: Assignment Cover Sheet (see the Learning Guide)

Unit Name: Introduction to Economic Methods, Unit Number: 200052, Teaching Session: Sem1, 2011.

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Section E: Important Information, Policies and Procedures for Students This information is to be read and applied in conjunction with each unit outline of your course. The Current Students page of the UWS web site http://www.uws.edu.au/students contains many important links, including: Student Administration http://www.uws.edu.au/students/stuadmin: This site contains much of the information necessary for the administration of your course throughout your study at UWS; Student Support Services http://www.uws.edu.au/students/ods: This site is a useful resource for students and a hub for coordinating developments to improve your university experience. e-learning http://www.uws.edu.au/students/onlinesupport: This is your entry to all aspect of e-learning at UWS Students with a disability should visit: http://www.uws.edu.au/students/counselling_disability Course and unit rules http://www.uws.edu.au/students/stuadmin/enrolments/enrolmentrequirements: This site provides information on pre-requisites, co-requisites and other matters concerning how your course is structured. Policies http://www.uws.edu.au/policies/a-z: This site includes the full details of policies that apply to you as a UWS student. Important Policies Affecting Students Assessment Policy Examinations Policy Special Consideration Policy Review of Grade Policy Assessment Practice Fundamental Code

Misconduct Student Academic Misconduct Policy (see extract of the policy below under the heading "What is Academic
Misconduct?") Misconduct Student Non-academic Misconduct Policy

Enrolment Policy (includes a section on the UWS Student Email Account)


What is Academic Misconduct? Academic Misconduct may involve one or more of the following: Plagiarism Plagiarism involves submitting or presenting work in a unit as if it were the student's own work done expressly for that particular unit when, in fact, it was not. Most commonly, plagiarism exists when: a. the work submitted or presented was done, in whole or in part, by an individual other than the one submitting or presenting the work; b. parts of the work are taken from another source without reference to the original author; or c. the whole work, such as an essay, is copied from another source such as a website or another student's essay. Acts of plagiarism may occur deliberately or inadvertently a. Inadvertent plagiarism occurs through inappropriate application or use of material without reference to the original source or author. In these instances, it should be clear that the student did not have the intention to deceive. The University views inadvertent plagiarism as an opportunity to educate students about the appropriate academic conventions in their field of study. b. Deliberate plagiarism occurs when a student, using material from another source and presenting it as his or her own, has the intention to deceive. The University views a deliberate act of plagiarism as a serious breach of academic standards of behaviour for which severe penalties will be imposed. Collusion Collusion includes inciting, assisting, facilitating, concealing or being involved in plagiarism, cheating or other academic misconduct with others. Cheating Cheating includes, but is not limited to: a. dishonest or attempted dishonest conduct during an examination, such as speaking to other candidates or otherwise communicating with them; b. bringing into the examination room any textbook, notebook, memorandum, other written material or mechanical or electronic device (including mobile phones), or any other item, not authorised by the examiner; c. writing an examination or part of it, or consulting any person or materials outside the confines of the examination room,
Unit Name: Introduction to Economic Methods, Unit Number: 200052, Teaching Session: Sem1, 2011. Page 6 of 10

d. e.

without permission to do so; leaving answer papers exposed to view, or persistent attempts to read other students' examination papers; or cheating in take-home examinations, which includes, but is not limited to: (i)

making available notes, papers or answers in connection with the examination (in whatever form) to others without the permission of the relevant lecturer; (ii) receiving answers, notes or papers in connection with the examination (in whatever form) from another student, or another source, without the permission of the relevant lecturer; and (iii) unauthorised collaboration with another person or student in the formulation of an assessable component of work. For the full definition of academic misconduct and the consequences of such behaviour, students are advised to read the Misconduct Student Academic Misconduct Policy in its entirety, refer to: http://policies.uws.edu.au/view.current.php? id=00051 Section F: Additional Information Program and Week Week Topic Readings beginnin Schedule g

Indicative Reading

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Read Unit outline & Learning Guide Explore vUWS and read lecture notes and tutorial questions 7 March Read lecture notes and answer the Financial Mathematics tutorial questions by yourself 14 March Read lecture notes and answer the Limits tutorial questions by yourself 21 March Read lecture notes and answer the Differentiation tutorial questions by yourself 28 March Read lecture notes and answer the Applications of differential calculus tutorial questions by yourself 4 April Introduction to Statistics (Measure of See the practice mid-term questions in central tendency, variance and shapes) vUWS and solve by yourself 11 April Mid-term Examination Will be held in Lectures 18 April INTER SESSION BREAK 25 April Read chapters 1, 2 and 3 from Statistics textbook. 2 May Read chapter 4 from textbook Probability and try to solve the tutorial questions 9 May Random variables and discrete Read chapter 5 from textbook distributions and try to solve the tutorial questions 16 May Normal distribution, confidence interval Read chapter 6 from textbook and and determination of sample size try to solve the tutorial questions 23 May Read chapter 7, 8 and 9 from Hypothesis testing textbook and try to solve the tutorial questions 30 May Read chapter 10 and 12 from textbook Regression Analysis and try to solve the tutorial questions No lecture or tutorial this week 6 June STUVAC

28 Introduction (Summation, Equations February and Graphs)

The lectures in each session will be accompanied by tutorial exercises that reinforce the actual applications of techniques. They will be theoretical and practical in nature and will be centered on the use of the scientific calculator.

Additional

References
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Unit Name: Introduction to Economic Methods, Unit Number: 200052, Teaching Session: Sem1, 2011.

References

Purchase of further references is not compulsory. However, students are advised that other than the prescribed text, lectures will frequently be augmented with additional references. Indicative List :

Bradlet, T. (2008) Essential Mathematics for Economics and Business, 3rd Edition, John Wiley & Sons, Ltd. Bradfield, J., and Turner, R. (2005), Mathematical Economics, 2nd ed. Mason, OH: South-Western Thomson Learning. Gujarati Damodar N. (2006) Essentials of Econometrics. 3rd ed. Boston, [MA]: Irwin/McGraw-Hill Bernstein, S and Bernstein, R, (1999) Schaum's Outline of Elements of Statistics I, McGraw Hill. Bernstein, S and Bernstein, R, (2000) Schaum's Outline of Elements of Statistics II, McGraw Hill. Edward T. Dowling, (2001) Schaum's Introduction to Mathematical Economics, 3rd edition, ISBN 007135896X, 2002, McGraw Hill. Jacques, I. (2009) Mathematics for Economics and Business, 6th Edition, Prentice Hall. Knox David M. (1999) Mathematics of Finance, McGraw-Hill Newbold, P. Carlson, W. L. and Thorne, B. (2006) Statistics for Business and Economics, 6th Edition, Prentice Hall. Shannon, John (1995) Mathematics for Business, Economics and Finance, Wiley. Salvatore-Reagle and Derrick Regel, (2002) Schaum's Outline of Statistics & Econometrics, 2nd edition, ISBN, 0071348522,2002. McGraw Hill. Edward T. Dowling, (2001) Schaum's Introduction to Mathematical Economics, 3rd edition, ISBN 007135896X, 2002, McGraw Hill. Turkington, D. A. (2007) Mathematical Tools for Economics, Blackwell Publishing

Additional Administrati on Information

Mobile Phones Students who conduct conversations or use mobile telephones during class represent a serious distraction for both the lecturer and other students and these actions will not be tolerated. If you need to have your mobile phone on for personal or work reasons please notify your lecturer before class. Taping of lectures Taping of lectures without the permission of your lecturer is against university policy. If you wish to tape lectures for study purposes, please seek your lecturers permission first. Enrolment Changes If you do not formally withdraw from a unit on or before the census date you will incur a debt for the unpaid tuition fee. That debt cannot be transferred or deferred to another semester. You need to enrol and withdraw from units online via the My Student Records (MySR) site; https://myuws.uws.edu.au/mysite. Verbal notification will not be accepted. Please notify your unit coordinator if adding/removing a unit. All withdrawals from units must be done online (https://myuws.uws.edu.au/mysite) before the relevant quarters Census Date.

Important Notes: UWS Library E-Resources E-Reference Collections Blackwell Reference Online Dictionary of finance and investment terms Encyclopedia of business and finance Oxford Reference Online E-Book Collections NetLibrary Informit e-Library (Australian) MyiLibrary SpringerLink E-Resources
Unit Name: Introduction to Economic Methods, Unit Number: 200052, Teaching Session: Sem1, 2011. Page 8 of 10

Business Source Complete business resources for undergraduate/postgraduate use, with extensive archive of scholarly articles. Access to company reports, industry reports, market research reports, country reports, company profiles, SWOT analyses and more. Others: ABI/Inform Global comprehensive business database. Factiva full text news, business and company information from major Australian and international news sources. ***See also E Resources page for Economics and Finance at: http://library.uws.edu.au/subjectGuides.php?sid=11

Unit Name: Introduction to Economic Methods, Unit Number: 200052, Teaching Session: Sem1, 2011.

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