Course coordinator
Professor Claudio Mezzetti
Course overview
- Study period
- Semester 2, 2024 (22/07/2024 - 18/11/2024)
- Study level
- Undergraduate
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Economics School
This course provides essential mathematical tools for studying Economics. It includes functions of one variable, differentiation, integrals, optimisation, and matrix algebra.
This course introduces students to relevantﾠmathematical methods and their applicationﾠin economics. A goodﾠunderstanding of these methods is crucial for studentsﾠto comprehendﾠimportant concepts in the second and third-yearﾠcore economics courses and other selected areas inﾠeconomics. Thus, it is highly recommended that this course be taken beforeﾠenrolling inﾠtheﾠsecond year micro and macro courses.ﾠThe course is also a requirement for ﾠstudents in the Bachelor ofﾠEconomics program.ﾠ
Course requirements
Assumed background
Students are expected to be familiar with algebra, calculus, and coordinate geometry from high school Maths B or the UQ course MATH1040.
Prerequisites
You'll need to complete the following courses before enrolling in this one:
(Maths B or Mathematical Methods (Units 3 & 4, C) or equivalent) or MATH1040
Recommended companion or co-requisite courses
We recommend completing the following courses at the same time:
ECON1020
Incompatible
You can't enrol in this course if you've already completed the following:
MATH1050, MATH1051, MATH1071
Course contact
School enquiries
Student Enquiries, School of Economics
All enquiries regarding student and academic administration (i.e. non-course content information, e.g., class allocation, timetables, extension to assessment due date, etc.) should be directed to enquiries@economics.uq.edu.au.
Enquiries relating specifically to course content should be directed to ECON1050@uq.edu.au .
Course staff
Lecturer
Professor Claudio Mezzetti
Tutor
Mr Manraj Birk
Mr Jaris Kassim
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
Tutorial Preferencing: Please refer to My Timetable (available via your my.UQ dashboard) for more information on the tutorial preferencing and allocation process. Tutorials commence in Teaching Week 2.
The timetable is published through the UQ Public Timetable found in the APPs section of myUQ.ﾠStudents should refer to the timetable prior to the commencement of classes to ensure that they have the most up to date information, as from time to time late room changes may occur.ﾠ
Students who miss a tutorial due to a public holiday are invited to attend another tutorial that week.
Important dates:
- Public Holidays: Wed 14 August (Royal Queensland Show), Mon 7 October (King's Birthday).
- Mid-Semester Break: 23 - 29 September. Semester 2 classes recommence Mon 30 September.
Aims and outcomes
The aim of the courseﾠis to apply various mathematical techniques to analyse economic models. The mathematical techniques include simultaneous equations,ﾠmatrix algebra, differential & integral calculus.
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Confidently use mathematical notation to represent economic problems.
LO2.
Represent and solve simple economic models graphically and algebraically.
LO3.
Use differential calculus, including partial derivatives and differentials, across a range of economic problems.
LO4.
Apply methods of unconstrained and constrained optimization to simple economic problems.
LO5.
Apply integration to simple functions and economic concepts such as consumer surplus and producer surplus.
LO6.
Recognise basic matrix and vector notation and carry out basic matrix operations.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Quiz |
Online Quiz
|
40% (8% x 5 online quizzes) |
Online Quiz 1 (based on lectures 1 & 2) 12/08/2024 - 16/08/2024 Online Quiz 2 (based on lectures 3 & 4) 2/09/2024 - 6/09/2024 Online Quiz 3 (based on lectures 5 & 6) 16/09/2024 - 20/09/2024 Online Quiz 4 (based on lectures 7 & 8) 8/10/2024 - 11/10/2024 Online Quiz 5 (based on lectures 9,10, & 11) 21/10/2024 - 25/10/2024 |
| Examination |
Final Exam
|
60% |
End of Semester Exam Period 2/11/2024 - 16/11/2024 |
Assessment details
Online Quiz
- Online
- Mode
- Written
- Category
- Quiz
- Weight
- 40% (8% x 5 online quizzes)
- Due date
Online Quiz 1 (based on lectures 1 & 2) 12/08/2024 - 16/08/2024
Online Quiz 2 (based on lectures 3 & 4) 2/09/2024 - 6/09/2024
Online Quiz 3 (based on lectures 5 & 6) 16/09/2024 - 20/09/2024
Online Quiz 4 (based on lectures 7 & 8) 8/10/2024 - 11/10/2024
Online Quiz 5 (based on lectures 9,10, & 11) 21/10/2024 - 25/10/2024
- Learning outcomes
- L01, L02
Task description
This assessment task evaluates student's abilities, skills and knowledge without the aid of Artificial Intelligence (Al). Students are advised that the use of Al technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Online Submission via Blackboard
Deferral or extension
You may be able to apply for an extension.
Requests for the granting of extensions must be submitted through my.UQ: Applying for an extension - my.UQ - University of Queensland with supporting documentation before the submission due date/time. If an extension is approved, the new agreed date for submission will be noted on the application and the student notified through their student email. The online quizzes have a maximum extension of 3 days (including weekend days) to ensure timely feedback to other students.
Late submission
Where an extension has not been previously approved, a penalty of 100% will be applied to late or non-submission of any of the quiz assessments.
Final Exam
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 60%
- Due date
End of Semester Exam Period
2/11/2024 - 16/11/2024
- Learning outcomes
- L01, L02, L03, L04, L05, L06
Task description
- The ECON1050 Final Exam will be an invigilated in-person exam.
- The final exam will be held during the examination period. Important reminders and notices will be posted on Blackboard.
- The exam is designed to cover all topics.
- You will have a period of 2 hours to complete the exam.
- The exam will consist of short answer and problem solving questions.
- The final examination timetable will be published on my.UQ under "Important Info" as soon as it becomes available.
You will be alerted to further information about the final exam via our course Blackboard site.
This assessment task is to be completed in-person. The use of generative Artificial Intelligence (AI) tools will not be permitted. Any attempted use of Generative AI may constitute student misconduct under the Student Code of Conduct.
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 120 minutes |
| Calculator options | (In person) Casio FX82 series only or UQ approved and labelled calculator |
| Open/closed book | Closed Book examination - no written materials permitted |
| Exam platform | Learn.UQ |
| Invigilation | Invigilated in person |
Submission guidelines
Deferral or extension
You may be able to defer this exam.
Course grading
Full criteria for each grade is available in the Assessment Procedure.
| Grade | Cut off Percent | Description |
|---|---|---|
| 1 (Low Fail) | 0% - 29% |
Absence of evidence of achievement of course learning outcomes. |
| 2 (Fail) | 30% - 46% |
Minimal evidence of achievement of course learning outcomes. |
| 3 (Marginal Fail) | 47% - 49% |
Demonstrated evidence of developing achievement of course learning outcomes |
| 4 (Pass) | 50% - 64% |
Demonstrated evidence of functional achievement of course learning outcomes. |
| 5 (Credit) | 65% - 74% |
Demonstrated evidence of proficient achievement of course learning outcomes. |
| 6 (Distinction) | 75% - 84% |
Demonstrated evidence of advanced achievement of course learning outcomes. |
| 7 (High Distinction) | 85% - 100% |
Demonstrated evidence of exceptional achievement of course learning outcomes. |
Additional course grading information
A student's final overall end of semester percentage mark will be rounded to determine their final grade. For example, 64.5% rounds to 65%, while 64.4% rounds to 64%.
Supplementary assessment
Supplementary assessment is available for this course.
Additional assessment information
ﾠ
Learning resources
You'll need the following resources to successfully complete the course. We've indicated below if you need a personal copy of the reading materials or your own item.
Library resources
Find the required and recommended resources for this course on the UQ Library website.
Learning activities
The learning activities for this course are outlined below. Learn more about the learning outcomes that apply to this course.
Filter activity type by
Please select
| Learning period | Activity type | Topic |
|---|---|---|
Week 1 (22 Jul - 28 Jul) |
Lecture |
Lecture 1. Set Theory, Logic & Review of Algebra Essentials of set theory and logic; Real numbers; exponents; algebra; inequalities and intervals. Learning outcomes: L01 |
Tutorial |
No Tutorials in Week 1 |
|
Week 2 (29 Jul - 04 Aug) |
Lecture |
Lecture 2. Summation, Solving Equations Summation notation; Reviewing methods of solving equations Learning outcomes: L01 |
Tutorial |
Tutorial 1 Set theory, Logic & Review of Algebra Learning outcomes: L01 |
|
Week 3 (05 Aug - 11 Aug) |
Lecture |
Lecture 3. Functions of One Variable Linear functions; quadratic functions; polynomials; power, exponential and logarithmic functions; graphs of functions; inverse functions. Learning outcomes: L01, L02 |
Tutorial |
Tutorial 2 Summation, solving equations Learning outcomes: L01 |
|
Week 4 (12 Aug - 18 Aug) |
No student involvement (Breaks, information) |
Public holiday: Royal QLD Show No lectures, tutorials, and consultation sessions this week. |
Week 5 (19 Aug - 25 Aug) |
Lecture |
Lecture 4. Calculus 1 Basic concepts; rules of differentiation. Learning outcomes: L01, L02, L03 |
Tutorial |
Tutorial 3 Functions of one variable. Learning outcomes: L01, L02 |
|
Week 6 (26 Aug - 01 Sep) |
Lecture |
Lecture 5. Calculus 2 Derivatives in Use - Implicit differentiation, linear and polynomial approximations, Taylor's Formula Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
Tutorial 4 Calculus 1 Learning outcomes: L01, L02, L03 |
|
Week 7 (02 Sep - 08 Sep) |
Lecture |
Lecture 6. Calculus 3 Single variable optimisation; determination of extreme points; local extreme points. Learning outcomes: L01, L03, L04, L05 |
Tutorial |
Tutorial 5 Calculus 2 Learning outcomes: L01, L02, L03 |
|
Week 8 (09 Sep - 15 Sep) |
Lecture |
Lecture 7. Calculus 4 Partial derivatives and multivariate optimization Learning outcomes: L01, L03, L04, L05 |
Tutorial |
Tutorial 6 Calculus 3 Learning outcomes: L01, L03, L04, L05 |
|
Week 9 (16 Sep - 22 Sep) |
Lecture |
Lecture 8. Calculus 5 Lagrange Multiplier; Introduction to constrained optimization, applications. Learning outcomes: L01, L03, L04, L05 |
Tutorial |
Tutorial 7 Calculus 4 Learning outcomes: L01, L03, L04, L05 |
|
Mid Sem break (23 Sep - 29 Sep) |
No student involvement (Breaks, information) |
Mid Semester Break |
Week 10 (30 Sep - 06 Oct) |
Lecture |
Lecture 9. Calculus 6 Basic concepts of integration; indefinite and definite integrals; integration by parts; integration by substitution Learning outcomes: L01, L03, L04, L05 |
Tutorial |
Tutorial 8 Calculus 5 Learning outcomes: L01, L03, L04, L05 |
|
Week 11 (07 Oct - 13 Oct) |
Lecture |
Lecture 10: Matrix Algebra 1 Introduction to linear algebra: matrix notation, matrix and vector operations. Learning outcomes: L01, L06 |
Tutorial |
Tutorial 9 Calculus 6 Learning outcomes: L01, L03, L04, L05 |
|
Week 12 (14 Oct - 20 Oct) |
Lecture |
Lecture 11. Matrix Algebra 2 Simultaneous equations, Gaussian elimination, determinants, minors and cofactors, Cramer's rule Learning outcomes: L01, L06 |
Tutorial |
Tutorial 10 Matrix Algebra 1 Learning outcomes: L01, L03, L06 |
|
Week 13 (21 Oct - 27 Oct) |
Lecture |
Lecture 12. Matrix Algebra 3 Solving simultaneous equations; adjoint method for finding an inverse; introducing the Leontief input-output model. Review of the course content Learning outcomes: L01, L06 |
Tutorial |
Tutorial 11 Matrix Algebra 2 Learning outcomes: L01, L06 |
Policies and procedures
University policies and procedures apply to all aspects of student life. As a UQ student, you must comply with University-wide and program-specific requirements, including the:
- Student Code of Conduct Policy
- Student Integrity and Misconduct Policy and Procedure
- Assessment Procedure
- Examinations Procedure
- Reasonable Adjustments - Students Policy and Procedure
Learn more about UQ policies on my.UQ and the Policy and Procedure Library.