This course is concerned with the application of mathematical techniques to problems in economics, business, and finance. Particular applications include: solving systems of equations such as supply and demand models and input-output models; discounting and present value calculations in finance; optimisation problems such as profit maximisation and cost minimisation.

  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 analysing them.
• demonstrate an understanding of many of the common functional forms used in economics their derivatives
• apply the basic principles of maximisation and minimisation to optimisation problems     
• apply matrix algebra to simple economic problems and models
• make use of some basic principles of financial arithmetic in economic and financial problems

(Note: subject to change) There will be four in-tutorial tests, one midterm exam and one final exam. In-tutorial tests are voluntary, midterm and final exam are compulsory. In-tutorial tests and midterm together count for 50% of overall course mark. Final exam counts for 50%. In-tutorial tests and midterm exam jointly are redeemable against the final exam. This means that, if it is beneficial to the student, the final exam may count for 100% of the overall course mark.

Three lectures and one tutorial per week

None.

with STAT1006 Quantitative Methods for Business and Economics 1.

For further information please refer to http://ecocomm.anu.edu.au/courses/course.asp?code=EMET1001