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ECON1202 Quantitative Analysis for Business and Economics Course Outline Semester 1, 2014 Part A: Course-Specific Information
Students are also expected to have read and be familiar with Part B Supplement to All Course Outlines. This contains Policies on Student Responsibilities and Support, Including Special Consideration, Plagiarism and Key Dates. It also contains the ASB PROGRAM LEARNING GOALS.

Table of Contents
1 STAFF CONTACT DETAILS 1 1 1 2 2 2 2 2 3 3 5 5 5 5 6 7 7 8 8 8 8 9 10 11 11 11 12 13 13 15 1.1 Communications with staff 1.2 Pitstop and PASS 2 COURSE DETAILS 2.1 Teaching Times and Locations 2.2 Units of Credit 2.3 Summary of Course 2.4 Aims and Relationship to Other Courses 2.5 Presumed Knowledge 2.6 Student Learning Outcomes 3 LEARNING AND TEACHING ACTIVITIES 3.1 Approach to Learning and Teaching in the Course 3.2 Learning Activities and Teaching Strategies 3.2.1 Lectures 3.2.2 3.2.3 3.2.4 4 Tutorials Computing component Out-of-Class Study


4.1 Formal Requirements 4.2 Assessment Details 4.3 Tutorial Participation 4.4 Online Quizzes 4.5 In-tutorial Tests 4.6 Final Exam Format 4.7 Quality Assurance 5 6 7 COURSE EVALUATION AND DEVELOPMENT COURSE RESOURCES COURSE SCHEDULE

7.1 Lecture Schedule 7.2 Tutorial Schedule

Lecturer-in-charge: Dr Arpita Chatterjee Room: ASB 430C Phone: No: 9385 4314 Email: Consultation Times: Tuesday 2 – 5 pm Lecturer: Dr April Cai Room 432, ASB Building Ph 9385 3367 Email: Consultation Times: Tuesday 9am – 12 noon List of tutors will be posted on Website.


Communications with staff

Consultations are an opportunity for you to ask questions. You may need to ask about the material introduced in lectures, the problems you have attempted or questions that were not fully answered in tutorials. You should feel free to contact your lecturers about any matter. For issues regarding the material taught during lectures, please contact the lecturer responsible for your class. For efficiency, all enquiries about the subject material should be made at lectures or tutorials or during consultation time. Discussion of course subject material will not be entered into via lengthy emails. Email correspondence on administrative matters (e.g. advising inability to attend tutorials) will be responded to within 48 hours, but not over weekends. Please note that the lecturer has no advance notice of the date and time of the exam (the subject of many emails). Email enquiries should be directed to the QABE staff as follows:  Lecture-related enquires to your lecturer;  Tutorial material enquiries to your tutor;  Course related issues and enquiries about special consideration, assessments and examination to the lecturer-in-charge;  Administrative enquiries about the tutorials to the tutor-in-charge.


Pitstop and PASS

In the weeks leading up to exams, starting from about Week 12, the School will be providing Pitstop, an opportunity for consultation with tutors as you revise for the exams. Details of Pitstop locations and hours for this course will be advised closer to the time. PASS (the Peer Assisted Support Scheme) is a system of voluntary study groups available to QABE students. The groups are each led by senior students and are an opportunity to practice problems, develop study methods, ask questions, and consolidate your knowledge in a friendly informal environment. The PASS sessions will start in Week 3 and the timetable will be available from the Course Website in Week 2.

ECON1202 – Quantitative Analysis for Business and Economics


2.1 Teaching Times and Locations
Lectures start in Week 1. Lectures are on Tuesdays 11 am, Tuesdays 6-8 pm and Fridays 1 pm in Webst ThA. Tutorials start in Week 2. A list of tutorials and tutors will be on the Course Website.

2.2 2.3

Units of Credit Summary of Course

The course is worth 6 units of credit.

This course examines: mathematics of finance (compound interest, present value, annuities); matrix algebra (operations with matrices, determinants, matrix inverse, rank, solutions to matrix equations); the graphical approach to linear programming; calculus (univariate differentiation, maxima and minima of a function, functions of several variables, partial derivatives, unconstrained and constrained optimisation), probabilities and the applications of the above concepts and techniques in accountancy and economics, including the use of spreadsheet computer programs.


Aims and Relationship to Other Courses

This course is offered as part of the first year core in the Bachelor of Economics degree. For students who commenced the Bachelor of Commerce program in 2009 or prior years it is one of the six 1st year core courses. For students starting the BCom program in 2010, it is not part of the 1st year core BUT it is a prerequisite for most 2nd year economics courses, so it is strongly recommended for those contemplating one of the economics majors. It aims to give students a good insight and understanding of how mathematical concepts, theories and techniques are applied to the fields of business, economics and the social sciences in order to generate solutions to problems encountered in these fields. In this course we build on mathematical knowledge which you should have gained in high school. The course content constitutes the minimum mathematical knowledge and skills that graduates from the Faculty should possess in order to be effective in their later studies at UNSW, and in the world of work. After completing QABE, your use of mathematics and statistics in your studies will vary depending on the major(s) you choose. If you choose majors such as Economics, Business Economics, Financial Economics and Econometrics you will study further courses in econometrics. These majors are designed to equip students with statistical and other quantitative skills that are widely used and increasingly demanded by employers in commercial fields and the public sector. If you choose other majors where quantitative skills are needed, such as Accounting, Finance and Marketing, a good understanding of concepts taught in QABE will be a major asset. The aims of this course are for you to:  Gain experience in areas which every business person needs such as problem solving and using a spreadsheet;  Develop your ability to perform calculations;  Develop your ability to solve real life business problems using formal mathematical tools and algorithms;  Extend your skills in analysis, oral and written communication.

ECON1202 – Quantitative Analysis for Business and Economics



Presumed Knowledge

The ASB has an assumed knowledge requirement that students entering the BCom and BEc are expected to be familiar with HSC Mathematics. Therefore, in this course we will base lectures on a prior knowledge of HSC Mathematics and this assumed knowledge will not be covered or revised as part of the lectures or tutorials. If you have not studied HSC mathematics in New South Wales, knowledge of the following topics is essential: basic functions and graphs including logarithms and exponentials and solutions of linear and quadratic equations. If you have not studied any or all of these topics previously at an appropriate level of mathematics at high school, remedial work will be necessary. A short quiz has been designed to give you an evaluation of your mathematics skills. The quiz is available on the course website and students must attempt the quiz in order to get full access to the site. More importantly, the quiz provides an indication of whether you do in fact have a good grasp of the assumed knowledge in mathematics. Students with the appropriate background will find the quiz straightforward. If this is not the case and you feel you require some assistance then there are at least two options. You may wish to engage in some self-study in which case we recommend you purchase the following book available at the UNSW bookshop: Managing Mathematics: A Refresher Course for Economics and Commerce Students by Judith Watson, 2nd edition, 2002. Alternatively, UNSW in conjunction with Randwick TAFE, is offering a course, Essential Mathematics for Higher Education, that will provide instruction in the required mathematics. For further details go to and search for course no 29330.


Student Learning Outcomes

The Course Learning Outcomes are what you should be able to DO by the end of this course if you participate fully in learning activities and successfully complete the assessment items. The Learning Outcomes in this course also help you to achieve some of the overall Program Learning Goals and Outcomes students in the ASB. Program Learning Goals are what we want you to BE or HAVE by the time you successfully complete your degree. For more information on the Undergraduate Program Learning Goals and Outcomes, see Part B of the course outline. The following table shows how your Course Learning Outcomes relate to overall Program Learning Goals and Outcomes, and where these are assessed:
Program Learning Goals and Outcomes This course helps you to achieve the following learning goals 1 Knowledge Course Learning Outcomes On successful completion of the course, you should be able to: Apply basic principles of financial mathematics to real life problems. Apply probability tools to solve risk and uncertainty scenarios. Use matrix algebra to represent and solve systems of equations. Use linear programming and calculus to solve optimisation problems. Apply both single variable and multivariable calculus to business and economics problems. Use Excel spreadsheet proficiently to

Course Assessment Item
This learning outcome will be assessed in the following items:

   

Tutorial problems In-tutorial test Online quizzes Exam

ECON1202 – Quantitative Analysis for Business and Economics



Critical thinking and problem solving Written communication Oral communication

analyse data and make correct interpretations of the program’s output. Formulate and solve real problems amenable to mathematical analysis that arise in economics and business using the methods appropriate to the problem. Construct written work which is logically and professionally presented. Communicate successfully with group members in solving analytical problems. Such skills in analytical thinking and effective communication are Graduate Attributes that UNSW seeks to foster in its graduates. Work collaboratively to complete a task. Identify and assess environmental and sustainability considerations in problems in economics and business.

3a 3b

     

Tutorial problems In-tutorial test Online quizzes Exam Exam Not specifically assessed

4 5a.

Teamwork Ethical, environmental and sustainability considerations Social and cultural awareness

 

Not specifically assessed Exam


Not applicable in this course.

ECON1202 – Quantitative Analysis for Business and Economics


3.1 Approach to Learning and Teaching in the Course
The philosophy underpinning this course and its Teaching and Learning Strategies are based on “Guidelines on Learning that Inform Teaching at UNSW. These guidelines may be viewed at: Specifically, the lectures, tutorials and assessment have been designed to appropriately challenge students and support the achievement of the desired learning outcomes. A climate of inquiry and dialogue is encouraged between students and teachers and among students (in and out of class). The lecturers and tutors aim to provide meaningful and timely feedback to students to improve learning outcomes. This is not a course where you can become proficient just by observing. You will need to get involved in class ‐ evaluating information, asking and answering questions. You also must learn to organise your independent study and practise enough problems to gain a thorough understanding of concepts and how to apply them. You are expected to:  put a consistent effort into learning activities throughout the session by preparing for the regular assessment tasks,  take a more responsible role in preparing for tutorials and participating in them,  develop communication skills through engaging in classroom discussions and preparing an assignment,  concentrate on understanding how and why to use formulas and less on memorising them,  learn to work effectively with other students in order to complete a computer‐based business assignment,  make continuous improvements by using the feedback from assessments.


Learning Activities and Teaching Strategies

The examinable content of the course is defined by the references given in the Lecture Schedule, the content of Lectures, and the content of the Tutorial Program. In this course there are two types of formal classes: lectures and tutorials. There is also an Excel computing component which you may choose to undertake independently using your home computer or by obtaining the assistance of a tutor in a computer laboratory on campus. There are also peer assisted study groups (PASS) which you can attend on a voluntary basis. In addition you will be expected to spend a considerable amount of extra time working with group members on your assignment and working on your own to attempt tutorial preparation and self study questions.

3.2.1 Lectures
The purpose of Lectures is to provide a logical structure for the topics that make up the course; to emphasize the important concepts and methods of each topic. They will include explanation of relevant topics and theory together with worked examples to demonstrate the theory in practice. Where possible, lectures will show the relevance and application of the quantitative techniques covered in this course to business, economic and financial applications. To get the most out of the lectures, students are strongly encouraged to familiarise themselves with the readings as given in the course outline prior to attending each
ECON1202 – Quantitative Analysis for Business and Economics


lecture. To aid notetaking a “book” of lecture outlines, with space for working, is available from the course website, also available for purchase from the UNSW Bookshop. While some students prefer to take their own notes, others will prefer to use the outline as a template for their notes. Due to the size of lecture classes and the large amount of course material to be covered there is only a very limited time for questions during the lectures themselves. However, the smaller tutorial classes (see below) are ideal forums for students to test their understanding and seek further instruction. Additionally there are consultation times with lecturers.

3.2.2 Tutorials
Tutorials are an integral part of the subject. Tutorial presentations / discussion questions / problems will build on the material discussed in lectures. Tutorials will increase your understanding of the material covered in lectures if you have tried to work through some numerical problems yourself beforehand.

Focus. Besides learning practical problem‐solving skills, there is an emphasis on the development of communication skills and the ability to construct arguments. Discussions, both in small groups and between the whole class, will be an opportunity for you to examine your understanding of concepts and applications before working on numerical examples. Preparation. Each week you will be given two sets of questions to work on. Tutorial questions must be prepared for your tutorial. Expect that your tutor or another student will check that you have attempted these. You are expected to attend the tutorials and discuss any difficulties you encountered solving the tutorial questions with our tutor. Solutions to these tutorial questions will be available on QABE website on each week on Wednesday after 7pm. Self study questions will also be set for each week. Attempting these will assist you in answering the tutorial questions and will form a necessary part of the practice you will need to do to successfully complete this course. Solutions to some of these questions will be posted on QABE website before the examination time. Further help in understanding the tutorial solutions and in solving the self study problems can be obtained through consultations with your lecturer and tutor. Discussion. The first part of your tutorial will involve discussion questions related to the numerical questions you have prepared. These will help you improve your understanding of concepts and mathematical methods and assist you to see the relevance of these in business and economics. In some weeks you may also discuss topics such as how to approach your group assignment. During this part of the tutorial, you may also suggest topics you would like to be discussed, for example areas where you are confused or need more explanation.
Numerical solutions. During the second part of the tutorial, the students and the tutor, working together, will examine the solutions to the prepared questions. If time permits, extra questions may be attempted. In the case where there is not time to work through all the prepared questions, answers to these questions (but not complete solutions) will be made available on each week on Wednesday on the website.

ECON1202 – Quantitative Analysis for Business and Economics


3.2.3 Computing component
Given that most students have access to their own personal computers and the Excel program we are not insisting that you attend laboratory sessions on campus in order to become proficient in using this program. You will have the opportunity to either work through a set of computing exercises on your own at home or to attempt them at university. The exercises will be training for the Excel tasks required in your computing assignment as well as showing you other applications related to the course that may be required for tutorial work. From the website you can download computing exercises as .pdf files. You may use the laboratories during times booked to work with your group on our assignment. For some of these lab times, an instructor will be available to assist you with questions about the use of Excel. See the course website for the lab schedule. If you need to print at your university lab you should first obtain a printing card from the machine outside Quad Lab 4. The card costs $5 and has $3.35 of printing credit, enough for approximately 25 pages. Extra funds may be added to the card as needed.

3.2.4 Out-of-Class Study
Lectures can only provide a structure to assist your study, and tutorial time is limited. Most learning will be achieved outside of class time. Students differ in their learning styles but a learning strategy might include:  Read sections of the textbook before/after the lecture;  Attempt the self study problems and compare your methods with the online practice problems to prepare for quizzes or the past exam required; try extra problems from the textbook if required;  Prepare tutorial questions;  Develop skills in using Excel by attempting the computing exercises;  Take the online quiz, look at your results and if necessary and carry out further preparation before re-attempting it;  Work with other group members on the computing assignment;  Seek assistance from staff, PASS leaders or fellow students to have queries answered.

ECON1202 – Quantitative Analysis for Business and Economics


4.1 Formal Requirements

In order to pass this course, you must:  achieve a composite mark of at least 50 out of 100; and  make a satisfactory attempt at ALL assessment tasks (see below); and  Achieve a satisfactory level of performance in the final exam. This means a minimum mark of 46 per cent. Any student having an overall mark of 50 or more but less than 46 per cent in the final examination will be given an UF grade (unsatisfactory fail).


Assessment Details
Weighting 4 x 2% 3 x 8% 68% 100% Length See 4.4 below See 4.5 below 2 hours Due Date Weeks 3, 5, 9, 12 Weeks 4, 6, 11 University Exam Period

Assessment Task Online Quizzes In-tutorial Tests Final Exam


Tutorial Participation

No marks are awarded for tutorial attendance. However, a record of attendance at tutorials will be kept. Students should note that 80% attendance is required by UNSW and ASB rules. In certain circumstances, such as where a request for special consideration is made in relation to assessment items, tutorial attendance will be taken into account in determining your final assessment or whether special consideration is granted. Attendance at 9 of 12 tutorials will be deemed as meeting the requirement. Students must sign on by 10 minutes from the start of tutorial to qualify as ‘in attendance’. Signing on for another student will be treated as misconduct. If, owing to illness or other exceptional circumstances, you are unable to attend your usual tutorial, you may try to attend another tutorial in the same week. However, you are required to attend your usual tutorial class at least 9 times during the session. This allows for occasional absence due to minor illness and other reasons, hence special consideration applications will not reduce this requirement.

ECON1202 – Quantitative Analysis for Business and Economics



Online Quizzes

Four online quizzes have been designed to assist you to learn, so you can practice, check your understanding of topics and improve on your first attempt if necessary. Each quiz will count 1% of the overall mark for the course. Quizzes will test material up to and including lectures ending the previous week. Before completing each quiz you will have the opportunity to try online self‐check practice questions that are similar in content to the topics to be examined. The format of the practice questions will be a mixture of multiple‐choice and true‐false questions. For each quiz there will be two attempts allowed, but only your highest mark will be recorded. Each of the online quizzes will consist of ten questions. You will need to perform calculations similar to those in the practice set but enter numerical answers rather than checking a box. In order to avoid rounding errors you should try to store as much information in you calculator’s memory as possible. You will be allocated a time limit of one hour to complete each attempt and you may have two attempts at each quiz. For the second attempt, you may not get exactly the same set of questions or data. The dates between which quizzes will be available online are: Quiz 1 – Week 3: Week beginning 17 March, 2014 Quiz 2 – Week 5: Week beginning 31 March, 2014 Quiz 3 – Week 9: Week beginning 5 May, 2014 Quiz 4 – Week 12: Week beginning 26 May, 2014 You can access the quizzes at the website,, by clicking on the quizzes link. It is a good idea to save each answer as you progress through the questions in case your internet connection fails. Do not leave it until Sunday night to begin your first quiz attempt as overuse of the website may cause access problems. You are encouraged to make your attempts at UNSW computing labs. There are no supplementary quizzes. You are given two attempts to cover for any unseen technical problems that may cause you to lose one attempt. You may contact the lecturer-incharge if and only if you lose the two attempts due to technical problems (connecting to Moodle, Moodle shut down…) encountered in a UNSW computer lab. No considerations will be given if you leave your two attempts till Sunday evening!

ECON1202 – Quantitative Analysis for Business and Economics



In-tutorial Tests

There will be 3 written tutorial tests in Weeks 4, 6 and 11, each one counting towards 8% of the overall mark for the course. You will be notified by your lecturer of the time given to complete each test, as well as the material covered. This announcement will be made in lectures during the week before the test and will also be posted on QABE website. In tutorial test 1: week beginning March 24 (Week 4): up and including lecture 4. In tutorial test 2: week beginning April 7 (Week 6): up and including lecture 8. In tutorial test 3: week beginning May 19 (Week 11): up and including lecture 16.

A sheet with a number of selected formulae will be provided. This sheet will be available for download from the course website prior to the exam. The main purpose of these tests is to gauge:  Knowledge of the topics covered so far. Thus help achieve learning outcomes 1 and 2;  Ability to use formulae appropriately and to perform calculations with speed and in developing analytical skills that are necessary to achieve accuracy. Thus help learning outcome 3;  Problem solving ability. Students must sit the tutorial tests in the tutorial group to which they have been allocated. There will be NO supplementary tests offered for the in-tutorial tests. You should make every effort to take the in-tutorial test(s). Students who fail to attend the tests will need to apply for Special Consideration. Applications for special consideration for the in-tutorial tests must be lodged online through myUNSW within 3 working days of the assessment. (Log into myUNSW and go to My Student Profile tab > My Student Services channel > Online Services > Special Consideration). Then submit the originals or certified copies of your completed Professional Authority form (pdf - download here) and any supporting documentation to Student Central.
Employment obligations or holiday plans of any kind are not acceptable reasons for absence from any test/examination. In cases of serious illness, students will need full and convincing documentation of that illness. Students who are found to be genuinely too ill to have attended an in-tutorial test will have their mark in the remaining assessment tasks re-weighted to include the mark reserved for the missed test. In all other cases of non-attendance students will receive a grade of zero. Absence will only be approved for one of the in-tutorial tests.

ECON1202 – Quantitative Analysis for Business and Economics



Final Exam Format

The final will be a two hour examination held during the period university examination period. It will be worth 72% of the overall mark for the course, and will cover material from the entire course. There are no multiple choice questions in the final examination. The final exam consists of a number of questions designed to test your analytical skills and your problem solving ability. As with the in-tutorial tests, a sheet with a number of selected formulae will be provided. Full information about the content and format of the final examination will be provided towards the end of the semester. However, as outlined above, all material covered in the lectures and tutorial program is examinable.


Quality Assurance

The ASB is actively monitoring student learning and quality of the student experience in all its programs. A random selection of completed assessment tasks may be used for quality assurance, such as to determine the extent to which program learning goals are being achieved. The information is required for accreditation purposes, and aggregated findings will be used to inform changes aimed at improving the quality of ASB programs. All material used for such processes will be treated as confidential.

Each year feedback is sought from students and other stakeholders about the courses offered in the School and continual improvements are made based on this feedback. UNSW's Course and Teaching Evaluation and Improvement (CATEI) Process is one of the ways in which student evaluative feedback is gathered. You are strongly encouraged to take part in the feedback process.

ECON1202 – Quantitative Analysis for Business and Economics


The website for this course is on UNSW Moodle at: The Textbook for this course is: Prescribed text Haeussler, E.F. Paul, R.S and Wood, R.J., Introductory Mathematical Analysis for Business, Economics and the Life and Social Sciences 12th OR 13th ed., Published by Addison Wesley, 2008 . Comment Text and (optional) student solution manual, which contains solutions to the odd numbered questions, are both available at the UNSW bookshop and in MyCourse reserve in the library.

Students may also find the following textbook useful for some parts of the course: Prescribed text Comment Knox, D.M., Zima, P. and Brown, R.L., This book is highly recommended reading Mathematics of Finance, 2nd ed, for the financial maths section and in particular for topics from lectures 8 and 9 Published by McGraw‐Hill, 1999. which are not in the textbook. Available in MyCourse reserve and at the UNSW Bookshop. Morris, C., Quantitative Approaches in Easy to read style, this book is an Business Studies, 6th ed., Published by excellent resource for linear programming Financial Times Prentice Hall, 2003. and decision theory topics. Available in MyCourse reserve. Watson, J., Managing Mathematics: A Recommended for those who have Refresher Course for Economics and previously gained the assumed knowledge Commerce Students, 2nd ed., School of of mathematics, but who now need to Economics, UNSW, 2002. refresh algebra or calculus. Available at the UNSW Bookshop. Note that in the Lecture Schedule below and in the Tutorial Booklet these texts are referred to according to the initials of their authors as HPW, KZB, CM, and JW. Calculator. A basic scientific calculator is required for this course. Usually the calculator you used at school will be satisfactory. It must be able to perform logarithmic and exponential calculations such as ln x and xy. The calculator must not be a programmable one (i.e. have a full alphabetic keyboard) or a financial one. If you need to purchase a new calculator, keep in mind that, for further use, it will be desirable to have a two variable statistical mode to perform linear regression calculations. Software. If you wish to complete the computing requirements of this course using your own computer rather than the university laboratories you will need to have the Microsoft Excel program installed. Make sure that you install the full version that enables add‐ins to be used.

ECON1202 – Quantitative Analysis for Business and Economics


7.1 Lecture Schedule LECTURE SCHEDULE Topic
L1: Introducing QABE Topic 1: TIME VALUE OF MONEY L2: The problem Simple interest Compound interest Continuously compounded interest Present Value Future value L3: Equations of value Net present value Internal rate of return L4: Geometric progressions Ordinary annuities Annuities due Topic 2: MATRICES L5:Introduction to matrices Transpose, diagonal, identity, zero Matrix algebra: addition, subtraction Multiplication: scalar, matrix L6: Small matrices: Matrix Inversion, Adjoint method Solving systems of Linear Equations Consistency, types of solutions L7: More on matrices: Large matrices Computing methods Arrays, inversion, other methods Topic 3: PROBABILITIES L8: Permutations Combinations L9: Probability Trees Rules of probability Bayes’ Theorem L10: Markov chains HPW 6.1- 6.3 Lectures start in Week 1 and finish in Week 12.

Lecture book 12th ed KZB 1.1-1.2 HPW 5.1 HPW 5.3 HPW 5.2 KZB 2.3, 2.4 HPW pp.202-204 KZB 1.4, 2.3, 2.6 KZB 8.1, 8.2 HPW 5.4 KZB 3.1-3.4, App.B

Week 1 3 March

Week 2 10 March

Week 3 17 March

HPW 6.6

HPW 6.1-6.3

Week 4 24 March

HPW pp.347-349 HPW 8.2

HPW 8.5- 8.7 CM 8

Week 5 31 March

HPW 9.3

ECON1202 – Quantitative Analysis for Business and Economics


Topic 4: LINEAR PROGRAMMING L11: Introduction to Linear Programming Graphical approaches L12: Changes in the constraints Changes in the objective function Applications

Week 6 7 April

HPW 7.1 CM 19 HPW 7.2-7.3

Week 7 14 April

Topic 5: CALCULUS L13: Limits Rate of change - Differentiation by the limit Differentiation rules Applications (marginal cost/revenue, propensities) L14: Implicit differentiation Logarithmic and exponential derivatives Differentials Higher derivatives Applications (elasticity of demand)
Note: Friday this week is Good Friday public holiday


10.1-10.4 11.1, 11.3-11.5 11.2 12.3


12.4 12.1-12.2 14.1 12.7 12.3

Mid-Semester break: 18 April – 27 April
L15: Relative extrema Concavity, convexity Local, global extrema Inflection points Week 8 28 April L16: Introduction to integration The indefinite integral The definite integral Integration rules L17: Introduction to differential equations Method of separation of variables Introducing growth L18: Exponential growth Limited growth Applications L19: Introduction to multivariable calculus Level curves Partial & total derivatives Topic 6: OPTIMIZATION Multivariable optimization Unconstrained optimization Constrained optimization

HPW 13.1 HPW 13.3- 13.4, 13.6

HPW 14.1-14.7, 14.10

HPW 14.10, 15.5

Week 9 5 May

HPW 15.6 HPW 17.1-17.3 HPW 17.5-17.6

Week 10 12 May

HPW 17.1-17.6 HPW 17.7 HPW 17.8 14

ECON1202 – Quantitative Analysis for Business and Economics

Week 11 19 May

L21: Applications of constrained optimization Economic applications Lagrange multipliers L22: EXAM INFORMATION

Week 12 26 May



Tutorial Schedule

Tutorials start in Week 2 and finish in Week 13. The schedule will be on the Course website.

ECON1202 – Quantitative Analysis for Business and Economics


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