Bulletin Description and Course Content
Introduction of the necessary business vocabulary. Review of numbers and operations, exponents and radicals, functions in general, and linear, quadratic, polynomial, rational, exponential and logarithmic functions in particular, in context of business, finance and economy. Introduction to mathematics of finance: simple and compound interest, annuities, amortization.
Student Learning Outcomes
Math 107 prepares students for Math 108. Upon successful completion of this course, students will:
- Simplify, evaluate, and solve linear, quadratic, polynomial, exponential, and logarithmic functions, and use them as models in the context of business applications.
- Recognize the graphs of linear, quadratic, polynomial, exponential, and logarithmic functions and be able to interpret graphical features such as slope, intercepts, vertices, etc. in the context of business applications.
- Know the meaning of and understand the mathematical relationship(s) between the business concepts of price, quantity, revenue, cost, profit, average cost, marginal cost, fixed cost, variable cost, supply, demand, equilibrium, break-even, etc.
- Understand the concepts of simple interest, compound interest, and annuities, and be able to solve applied problems involving these concepts using standard formulas.
Textbook, Materials, and Teaching Methods
- Mathematical Applications for the Management, Life, and Social Sciences, 12th edition, Harshbarger/Reynolds
- Webassign account (for online homework)
- Basic hand-held calculator (not a cell phone) with logarithm, exponent, and square root features
- Teaching methods will include lectures, group discussions, and in-class group work.
Submitted by Eric Hsu,
Date: May 16, 2024