2U Maths as an assumed knowledge for Economics? (1 Viewer)

[Enchantress91]

Hi everyone, I'll be studying Economics in uni this year and I've not done 2U Maths in my HSC, but it was listed as an assumed knowledge for my course on the UAC handbook. My uni subjects are Accounting and financial mgmt, microeconomics, business and economic statistics and managing organisations and people.

I'm not so keen on paying $600 for a bridging course for 13 weeks. But I've got a HSC Maths step-by-step study guide so could someone please tell me what topics I should know (eg. basic algebra, calculus? etc), coz I can't cover everything in that book in a month.

Any help would be greatly appreciated.

 

[Omar-Comin]

i did vce so I don't know what 2U maths involves but for first year uni economics you only really need to know uni-variate calculus and simultaneous equations (and graphing functions of course). But once you get beyond first year you need to know more advanced calculus and probability stuff aswell.

 

[Cookie182]

Ban the motherfucker above.

 

[williamc]

You will struggle to complete an economics degree without 2U maths (a basic understanding of calculus and it's applications)

However, you will use algebraic manipulation more-so.

 

[Juggernaut K96]

You will struggle to complete an economics degree without 2U maths (a basic understanding of calculus and it's applications)

However, you will use algebraic manipulation more-so.

To a certain extent the comment above is right.

You do not need to pay for a bridging course but it would have been wise to complete 2U in school

In economics, you're looking at a lot of statistics, not so much probability but predictions and estimations. You will need to know graphs inside out. Basic things like the gradient, inclinations and axis, as they will demonstrated shifts etc.

You will also need to know to an extent, algebra due to all the formulas in equilibrium, B.O.P etc.

So follow this guide you have and good luck

 

[rx34]

Hi everyone, I'll be studying Economics in uni this year and I've not done 2U Maths in my HSC, but it was listed as an assumed knowledge for my course on the UAC handbook. My uni subjects are Accounting and financial mgmt, microeconomics, business and economic statistics and managing organisations and people.

I'm not so keen on paying $600 for a bridging course for 13 weeks. But I've got a HSC Maths step-by-step study guide so could someone please tell me what topics I should know (eg. basic algebra, calculus? etc), coz I can't cover everything in that book in a month.

Any help would be greatly appreciated.

Will you be doing mandatory first year economic courses in uni or are you planning to major in economics in uni? If you are majoring in economics, I think you should take the bridging course. But if you are not majoring in economics or finance, I don't think you should. I did VCE so I don't really know what 2U maths is. But I did the second hardest math (math methods) and did ok in it.

You might have problems in business and economic statistics because that is the 'math-iest' course out of all of them. I did it last sem and I did hypothesis testing, chi square, z scores, etc. It was pretty easy as they teach you ALMOST EVERYTHING from scratch (at least for my uni). The failure rate was one of the highest. But that's only because those kids didn't turn up for lectures or do their class tests.

You probably don't need calculus, maybe probablilty and basic algebra.

 

[williamc]

To a certain extent the comment above is right.

You do not need to pay for a bridging course but it would have been wise to complete 2U in school

In economics, you're looking at a lot of statistics, not so much probability but predictions and estimations. You will need to know graphs inside out. Basic things like the gradient, inclinations and axis, as they will demonstrated shifts etc.

You will also need to know to an extent, algebra due to all the formulas in equilibrium, B.O.P etc.

So follow this guide you have and good luck

umm lol HSC 2010

in econometrics you look at statistics, not economics

You never have to plot the graphs accurately and thus, gradient, inclination and where it cuts the axis are not too vital.

Most of the hard maths is derived from producer (profit maximising functions and cost curves) and consumer theory (utility maximising functions) in 2nd year microeconomics in which calculus is ever present. Most macro economics is all basic algebra work, besides the stuff you do on long run economic growth (equilbrium in the steady state, capital accumulation, golden rate of saving etc)

 

[violentdelights]

According to my UNSW poster, it's assumed knowledge. You could always do a bridging course.

 

[Omar-Comin]

I did hypothesis testing, chi square, z scores, etc. It was pretty easy as they teach you ALMOST EVERYTHING from scratch (at least for my uni). The failure rate was one of the highest. But that's only because those kids didn't turn up for lectures or do their class tests.

You probably don't need calculus, maybe probably and basic algebra.

the f**k are you talking about?...doesn't U-Syd economics use calculus? Further evidence that U-Syd is going down the drain and becoming a nicer looking version of UWS.
And applying 'hypothesis testing, chi square, z scores, etc' doesn't involving mathematics, it involves tediously scrolling though tables then doing some even more tedious plug and chug on the scientific calculator.

 

[williamc]

You might have problems in business and economic statistics because that is the 'math-iest' course out of all of them. I did it last sem and I did hypothesis testing, chi square, z scores, etc. It was pretty easy as they teach you ALMOST EVERYTHING from scratch (at least for my uni). The failure rate was one of the highest. But that's only because those kids didn't turn up for lectures or do their class tests.

You probably don't need calculus, maybe probably and basic algebra.

Economics statistics aka econometrics at introductory level is easy. You could pass it without ever doing math in high school. No calculus at all. However, if you choose an econometrics major, i would recommend ext 1 maths minimum.

the f**k are you talking about?...doesn't U-Syd economics use calculus? Further evidence that U-Syd is going down the drain and becoming a nicer looking version of UWS.
And applying 'hypothesis testing, chi square, z scores, etc' doesn't involving mathematics, it involves tediously scrolling though tables then doing some even more tedious plug and chug on the scientific calculator.

The person above isn't doing an Economics degree. They would have only completed introductory level economics units in 1st year. I would assume the U-Syd program would involve calculus in subsequent years. You are right about the rest though lol.

 

[rx34]

the f**k are you talking about?...doesn't U-Syd economics use calculus? Further evidence that U-Syd is going down the drain and becoming a nicer looking version of UWS.
And applying 'hypothesis testing, chi square, z scores, etc' doesn't involving mathematics, it involves tediously scrolling though tables then doing some even more tedious plug and chug on the scientific calculator.

Firstly, I transferred to USyd, you don't have to swear Troll. Secondly, you don't have to insult USyd. Renovations to the university is a good thing and there's nothing wrong with it

Thirdly, it does involve a 'very small' degree of mathematics, you don't use the calculator for everything. Especially with probability and trend equations, they might require you to calculate it manually. Doing it manually is math, it might not be as technical and difficult as engineering math but it's still math in its own right.

I am talking about FIRST YEAR economics, and having done it, there is no calculus whatsoever. So shut up if you don't have any experience first hand.

 

[Omar-Comin]

Firstly, I transferred to USyd, you don't have to swear Troll. Secondly, you don't have to insult USyd. Renovations to the university is a good thing and there's nothing wrong with it

Thirdly, it does involve a 'very small' degree of mathematics, you don't use the calculator for everything. Especially with probability and trend equations, they might require you to calculate it manually. Doing it manually is math, it might not be as technical and difficult as engineering math but it's still math in its own right.

I am talking about FIRST YEAR economics, and having done it, there is no calculus whatsoever. So shut up if you don't have any experience first hand.

Yes i've done first year economics at one of the top unis in Australia and we used heaps of calculus in our econ subjects.
If U-Syd doesn't use calculus it means U-Syd is far less rigorous than other Go8's, and it's further evidence of the well known fact it's on the slide (particularly in commerce and economics) , slowing sinking to a UWS or ACU standard.
Maybe U-Syd's subjects have turned into an easy bludge because the standard of their students have dropped (your certainly evidence of this rx34)?

And no, preforming manual 'plug and chug' calculations with real numbers is not mathematics (does U-Syd even have a maths department?)

 

[rx34]

Yes i've done first year economics at one of the top unis in Australia and we used heaps of calculus in our econ subjects.
If U-Syd doesn't use calculus it means U-Syd is far less rigorous than other Go8's, and it's further evidence of the well known fact it's on the slide (particularly in commerce and economics) , slowing sinking to a UWS or ACU standard.
Maybe U-Syd's subjects have turned into an easy bludge because the standard of their students have dropped (your certainly evidence of this rx34)?

And no, preforming manual 'plug and chug' calculations with real numbers is not mathematics (does U-Syd even have a maths department?)

lol ok mate, whatever floats your boat.

 

[Trebla]

Yes i've done first year economics at one of the top unis in Australia and we used heaps of calculus in our econ subjects.
If U-Syd doesn't use calculus it means U-Syd is far less rigorous than other Go8's, and it's further evidence of the well known fact it's on the slide (particularly in commerce and economics) , slowing sinking to a UWS or ACU standard.
Maybe U-Syd's subjects have turned into an easy bludge because the standard of their students have dropped (your certainly evidence of this rx34)?

And no, preforming manual 'plug and chug' calculations with real numbers is not mathematics (does U-Syd even have a maths department?)

USYD is on the slide is it? You also claim it to be well known fact hmm....last time I checked, USYD moved up in the world rankings for 2009 going further beyond reach of other universities including UNSW, UTS and Macquarie. What's your evidence to support your claim?

I can tell you now that there is DEFINITELY calculus in USYD economics. However, the level of calculus is limited to single variable with some glances at multi-variable calculus in first year because first year micro and macro economics are compulsory units and are intended to be introductory courses only. Any people not interested in majoring in economics should not be exposed to anything very rigorous because it's not relevant unless you're going to major in economics.

Just because a pair of FIRST YEAR core economics units are supposedly not so rigorous doesn't mean that the entire economics faculty is not rigorous. First of all, second year and senior economics units are very mathematical with exposure to partial derivatives, taylor series, limits, constrained and unconstrained optimisation which is a big step up from first year level because now the candidature is composed of people who are actually considering majoring in economics.

Furthermore, for those who want to do honours in economics, there is a compulsory unit called 'Mathematical Economics' which provides all the mathematical rigour and background needed for research in economics.

 

[Enchantress91]

Hi, I just want to say the biggest THANK YOU to all of you for your inputs.

Since me and mathematics don't mix very well, which major would you guys recommend me doing out of econometrics/ economics/ financial economics??

I've also got the option to choose a second major out of accounting, business law, HR management, international business, finance and marketing.

 

[williamc]

Hi, I just want to say the biggest THANK YOU to all of you for your inputs.

Since me and mathematics don't mix very well, which major would you guys recommend me doing out of econometrics/ economics/ financial economics??

I've also got the option to choose a second major out of accounting, business law, HR management, international business, finance and marketing.

Economics

Second major either being international business, finance or marketing

 

[Trebla]

Are you a humanities/arts-inclined person? How about political economy? If you want to do economics with as little maths as possible, maybe it would be a good idea to either do that or do as many macro-economics units as you can lol

 

[williamc]

I don't know why you would even do an Economics degree if you didn't mix well with maths lol??

 

[Omar-Comin]

Are you a humanities/arts-inclined person? How about political economy? If you want to do economics with as little maths as possible, maybe it would be a good idea to either do that or do as many macro-economics units as you can lol

both political economy, and macro economics are very mathematical....like the above poster said, why would you want to major in economics if you hate maths?

 

[Enchantress91]

both political economy, and macro economics are very mathematical....like the above poster said, why would you want to major in economics if you hate maths?

Because I missed out on USyd Commerce by 0.10. (Lol my ATAR was 94.30, their cut off this year was 94.40) and I thought a B.Eco would be the closest possible thing to it. (And the subjects I'm enrolled in are all 1st yr Commerce subs anyway)

I've received an offer from Macquarie last night to do B.Commerce, and might even receive a final CSU B.Policing offer in the final round if I'm lucky (though my parents would most definitely disown me + ground me for the rest of my life if I were to ditch UNSW for MQ or CSU).

So I dunno, maybe I should try Ecos for a year and then apply for transfer to Commerce. But I heard that to get a guarenteed transfer to USyd Commerce u'd need a distinction-average and an ATAR>90.