BUSINESS MATHEMATICS

Course No

:

BUS 102

Course Title

:

BUSINESS MATHEMATICS

Prerequisites

:

None

Course Type

:

Major

Faculty Member

:

Dr. ; Room # ; Telephone ; e-mail ;

Office Hours

:

 

Class Time

:

 

Lecture Class

:

 

Course Objectives:
The goal of this course is to develop the mathematical skills of students so that they will be able to make connections between some of the applications in their major field and the necessary mathematical concepts, and then use the necessary mathematical results to solve these application problems.

Course Description:
The student will be exposed to different mathematical tools from Algebra, Linear Programming and Calculus that are commonly used in business applications. It emphasizes building mathematical models for management decision problems, solving management problems using spreadsheet tools and interpreting the solutions. Besides working with systems of linear equations and inequalities, it also covers functions, graphing, derivatives, solving problems, problem solving using spreadsheets, and introductory probability concepts.

Course Outline: 

  1. Problem Solving with Whole Numbers and Decimals.
  2. Problem Solving with Fractions and Percents.
  3. Problem Solving with Formulas and Equations.
  4. Statistics, Tables, and Graphs.
  5. Bank Records.
  6. Payroll.
  7. Trade and Cash Discounts.
  8. Markup and Markdown.
  9. Simple Interest and Simple Discount.
  10. Compound Interest, Future Value, and Present Value.
  11. Annuities and Sinking Funds.
  12. Consumer Credit.
  13. Depreciation.
  14. Inventory, Turnover, and Overhead.
  15. Financial Statements.
  16. Insurance.
  17. Taxes.
  18. Stocks and Bonds  

Learning Outcomes:
After completing the course the student should be able to:

  1. explain and demonstrate the use of basic mathematics including formulae and ratios
  2. identify and apply techniques for summarizing and analyzing data
  3. explain and demonstrate the use of probability where risk and uncertainty exist
  4. explain and apply financial mathematical techniques
  5. explain and demonstrate techniques used for forecasting

Teaching Methods:
Electronic presentation, Use of Spreadsheet templates, and CD-ROM for action learning
Use of the Internet for up-to-date global info; Usage of CD-ROM data

Use of Modern Instructional Technology:
Use of LCD Projector, PC, CD ROM, modern Spreadsheet and Electronic presentation packages

Skills to be developed:
This course helps students in developing the following skills:
•  Communication Through Assignments, Case Study
(oral and written) discussions and Examinations
•  Analytical Through Case studies and examinations
•  Team Work Through Case studies
•  Creative Thinking Through Case studies, assignments, classroom
discussions
•  Adaptability to Change Through Case studies, and examinations
•  Ethics Through lectures and assignments
•  Use of Information Through use of PCs, Internet, CD-ROM, Statistical
technology data base in the library
•  International issues Through Case studies, assignments, classroom
discussions, and examinations

Evaluating Student Performance:
Class participation and attendance 10%
Individual assignments /or/ Tests (two) 40%
Final Exam 50%

Assignment

LO1

LO2

LO3

LO4

LO5

Classroom participation

 

X

X

X

X

Assignments/tests

X

X

X

X

X

Final exam

X

X

X

X

X

Grading:

Percentage Score Letter Grade GPA Points Percentage Score Letter Grade GPA Points
90 – 100 A 4.0 70 - 74 C 2.0
85 - 89 B+ 3.5 65 - 69 D+ 1.5
80 - 84 B 3.0 60 - 64 D 1.0
75 - 79 C+ 2,5 < 60 F 0.0

Educational Resources: 

Educational Resource

Description

Comments

Textbooks Required

Mathematical Applications : For the Management, Life and Social Sciences, 7 th ed. , Harshbarger / Reynolds

 

 

Business Mathematics by McConnell, Sarah (2003); Publsh: Butterworth-Heinemann; ISBN: 0750661488

 

 

 

 

References

Quantitative methods for Business, Management and Finance by Swift, Louise (2001); Publshr: Palgrave; ISBN: 0333920767

 

 

Brief Calculus and Its Applications by Goldstein, Lay, and Schneider, 7 th ed., Prentice Hall.

 

 

 

 

Journals

Mathematics Magazine

 

 

 

 

Computers

Internet searches for obtaining info on Macroeconomics

 

 

 

 

CD - ROM :

(CD-ROM) data base in the library + Action learning through CD

 

 

Accompanying the textbook

 

Other Resources:

Library resources, Internet search of periodicals

 

Course Schedule & Outline:
Sixteen Week Semester, 3 hrs/Wk 

Date

Week

Outline Syllabus

Learning Outcomes

Homework Assignments, Due dates

February 12/2-16/2

1

LO1

February

19/2-23/2

2

 

LO2

 

 

 

 

 

 

 

 

 

 

 

 

May

28/5- 31/5

 

General Review