Business Mathematics I ALGONQUIN COLLEGE IN THE OTTAWA VALLEY. Contribution to Program: Vocational Core COURSE DESCRIPTION

Transcription

1 Business Mathematics I ALGONQUIN COLLEGE IN THE OTTAWA VALLEY Course Number: MAT7706 Contribution to Program: Vocational Core Normative Hours: 60 Applicable Program(s): 0306X04FPM Business 2 AAL: Approval Date: 10/01/ X10FPM Business 2 Prepared by: Wade Neigel Professor Co-Requisites N/A Approved by: Murray Kyte Chair Approved for Academic Year: Pre-Requisites N/A COURSE DESCRIPTION This course develops the mathematical skills necessary for all other business courses. Students apply intermediate algebraic operations to business problems. RELATIONSHIP TO VOCATIONAL LEARNING OUTCOMES This course contributes to your program by helping you achieve the following Vocational Learning Outcomes: Business 0306X04FPM 8 Apply computer skills and knowledge of information technology to support the management of an organization.(t) 12 Apply creative problem-solving skills to address business problems and opportunities.(t,a) Business 0306X10FPM T: Teach A: Assess CP: Culminating Performance ESSENTIAL EMPLOYABILITY SKILLS The course contributes to your program by helping you achieve the following Essential Employability Skills: 3 Execute mathematical operations accurately.(t,a) 4 Apply a systematic approach to solve problems.(t,a) 10 Manage the use of time and other resources to complete projects.(a) T: Teach A: Assess CP: Culminating Performance COURSE LEARNING REQUIREMENTS/EMBEDDED KNOWLEDGE AND SKILLS COURSE LEARNING REQUIREMENTS When you have earned credit for this course, you will have demonstrated the ability to: 1. Analyze the use of trade discounts, markup & markdown and apply them in a business environment 2. Calculate profitability by using break-even and cost volume profit analysis EMBEDDED KNOWLEDGE AND SKILLS Understand the concept of a trade discount and use single and multiple trade discounts to determine the net price of a good Understand & calculate net price factor & discount series Understand the meaning of ordinary dating, end of month dating, receipt of goods dating Understand partial payment Understand the rate of markup and the method to find the cost & selling price Explain pricing strategies & concepts Understand the volume profit relationships. Understand contribution margins. Produce break-even charts. 3. Solve simple interest problems and identify the terms used in simple Understand the meaning of the terms simple interest, amount, maturity value, present value, interest rate, discounting, and equivalent values interest applications Understand simple interest formula to find & calculate future value 2011 Algonquin College principle, time, simple interest, proceeds, and simple Page discounts 1 / 5 Understand loan repayments & blended payments

2 2. Calculate profitability by using break-even and cost volume profit analysis 3. Solve simple interest problems and identify the terms used in simple interest applications 4. Solve compound interest problems and use compound interest 5. Calculate interest from simple annuities in order to make an informed business decision about the value & cost of them 6. Calculate interest from general annuities in order to make an informed business decision about the value & cost of them 7. Effectively use a spreadsheet program to increase productivity and reduce errors Understand the volume profit relationships. Understand contribution margins. Produce break-even charts. Understand the meaning of the terms simple interest, amount, maturity value, present value, interest rate, discounting, and equivalent values Understand simple interest formula to find & calculate future value principle, time, simple interest, proceeds, and simple discounts Understand loan repayments & blended payments Use compound interest method to find present value, compute time and interest rate, and find the compound amount Explain the concepts of future value, discounting of promissory notes Understand the concepts behind simple annuities, how they are dated and how interest is calculated Understand the concepts behind general annuities, how they are dated and how interest is calculated Use a spreadsheet program, such as Excel, to solve common financial problems and make business decisions based upon the results. LEARNING RESOURCES Hummelbrunner, S. A. Contemporary business mathematics with Canadian applications (8 th ed.). Toronto: Prentice Hall. Blackboard Courseware Calculator (Texas Instruments BA 11 Plus) Laptop computer with Microsoft Excel 2007 Online MathXL courseware LEARNING ACTIVITIES During this course, you are likely to experience the following learning activities: In-class problem solving Computer assignments Homework Tests Tutorial videos EVALUATION/EARNING CREDIT The following will provide evidence of your learning achievements: This activity validates the following Course Learning Requirements and/or Essential Employability Skills: Test 1 (15%) Analyze the use of trade discounts, markup & markdown and apply them in a business environment - [CLR 1] Test 2 (15%) Calculate profitability by using break-even and cost volume profit analysis - [CLR 2] Test 3 (10%) Solve simple interest problems and identify the terms used in simple interest applications - [CLR 3] Test (15%) Algonquin College Solve compound interest problems and use compound Page interest 2 / 5

3 - [CLR 3] Test 4 (15%) Solve compound interest problems and use compound interest - [CLR 4] Test 5 (10%) Calculate interest from simple annuities in order to make an 5] Test 6 (15%) Calculate interest from general annuities in order to make an 6] Assignments (20%) Analyze the use of trade discounts, markup & markdown and apply them in a business environment - [CLR 1] Calculate profitability by using break-even and cost volume profit analysis - [CLR 2] Solve simple interest problems and identify the terms used in simple interest applications - [CLR 3] Solve compound interest problems and use compound interest - [CLR 4] Calculate interest from simple annuities in order to make an 5] Calculate interest from general annuities in order to make an 6] Manage the use of time and other resources to complete projects. - [EES 10] COLLEGE GRADING NUMERICAL EQUIVALENT TABLE Final Grade Mark Equivalent Numeric Value Final Grade Mark Equivalent Numeric Value A % 4.0 C % 2.3 A 85-89% 3.8 C 63-66% 2.0 A % 3.6 C % 1.7 B % 3.3 D % 1.4 B 73-76% 3.0 D 53-56% 1.2 B % 2.7 D % Algonquin College F 0-49% 0 Page 3 / 5

4 A 85-89% 3.8 C 63-66% 2.0 A % 3.6 C % 1.7 B % 3.3 D % 1.4 B 73-76% 3.0 D 53-56% 1.2 B % 2.7 D % 1.0 F 0-49% 0 FSP 0 0 PRIOR LEARNING ASSESSMENT AND RECOGNITION Obtain 70% on challenge test. RELATED INFORMATION The following information is course-specific: In order to achieve a passing grade in this course, a student must achieve an overall passing grade in the test portion. All assignments and tests must be complete in order to pass this course. A test or quiz must be taken on the date announced unless arrangements have been made PRIOR to that date. There must be a good reason (exceptional circumstances) for a change and permission MAY be denied. A test or quiz not taken will result in a grade of 0 (zero). Extraordinary circumstances: Wherever possible, students are expected to anticipate their need for special allowances, and enter into discussion and make necessary arrangements with the appropriate faculty member (or other academic officer) in advance of the situation. In all classes, special allowances are subject to negotiation and agreement between the faculty member and the student concerned (Algonquin Directive E3). All assignments are due on the date announced. Any assignment handed in late will be penalized 10% per day. Assignments that are one week or more overdue must be completed & handed in, but will be given a grade of 0 (zero). The only exception to the rule is as stated in #1 above and permission may be denied. Arrangements must be made prior to the due date. All assignments will be in an electronic, online format. This will be Blackboard, the textbook's MathXL sytstem or both. To pass this course, the student must complete all assignments and tests. Each student is responsible for completing every assignment independently (unless it involves group work). Any student handing in work that has been copied, plagiarized or not his/her own work will automatically receive a grade of 0 (zero) and will face serious sanctions, including expulsion as in accordance with the College s policy Algonquin Directives A3 and E43 (See Student Guide Book). Any student allowing their work to be copied or plagiarized will also receive a grade of 0 (zero). Ignorance or blind acquiescence of such practice or behavior will not be tolerated. Students are expected to attend all scheduled classes. Attendance will be considered in the final evaluation. IF A STUDENT IS ABSENT FOR ANY REASON WHATSOEVER, THAT STUDENT WILL BE RESPONSIBLE FOR: The material that was covered in class when s/he was absent Obtaining information on assignments that were given out Ensuring these assignments are complete Consultation : Consultation or extra help hours will be available to all students who regularly attend classes. Please feel free to arrange a consultation with me: Professor: Wade Neigel Office: Room Phone: neigelw@algonquincollege.com x2768 The following information is school/department-specific: The following information is College-wide: Algonquin College provides all full-time students with an account. This is the address that will be used when the College, your professors, or your fellow students communicate important information about your program or course events. It is your responsibility to ensure that you know how to send and receive using your Algonquin account and to check it regularly. Centre for Students with Disabilities (CSD) If you are a student with a disability, it is strongly recommended that you identify your needs to the professor and the Centre for Students with Disabilities (CSD) by the end of the first month of the semester in order that any necessary support services can be arranged for you. Academic Integrity Adherence to acceptable standards of academic honesty is an important aspect of the learning process at Algonquin College. Academic work submitted by a student is evaluated on the assumption that the work presented by the student is his or her own, unless designated otherwise. For further details consult Algonquin College Directives E ( Algonquin College Page 4 / 5 and E43 (

5 Centre for Students with Disabilities (CSD) If you are a student with a disability, it is strongly recommended that you identify your needs to the professor and the Centre for Students with Disabilities (CSD) by the end of the first month of the semester in order that any necessary support services can be arranged for you. Academic Integrity Adherence to acceptable standards of academic honesty is an important aspect of the learning process at Algonquin College. Academic work submitted by a student is evaluated on the assumption that the work presented by the student is his or her own, unless designated otherwise. For further details consult Algonquin College Directives E16 ( and E43 ( Course Assessments It is Algonquin College s policy to give students the opportunity to complete a course assessment survey in each course that they take which solicits their views regarding the curriculum, the professor and the facilities. For further details consult Algonquin College Directive E38 ( Use of Electronic Devices With the proliferation of small, personal electronic devices used for communications and data storage, Algonquin College believes there is a need to address their use during classes and examinations. During classes, the use of such devices is disruptive and disrespectful to others. During examinations, the use of such devices may facilitate cheating. For further details consult Algonquin College Directive E39 ( Transfer of Credit Students, it is your responsibility to retain course outlines for possible future use to support applications for transfer of credit to other educational institutions Algonquin College Page 5 / 5