Text only

MAT 220

I. TITLE: Business Calculus

II. CATALOG DESCRIPTION:  An introduction to calculus and its applications for students in various fields of business.  Primary emphasis is on differential calculus.

III. PURPOSE:
This course develops differential and integral calculus within an applied, problem-solving setting.  The fundamental purpose of the course is to give students a strong sense of the practical and conceptual applications of calculus as a tool for solving problems encountered in the business world.  Additionally, this course helps students develop the logical reasoning skills necessary to make critical decisions in the workplace as well as in their personal lives.
    The mathematical theory is developed to the point necessary to substantiate the mathematical foundation underlying business related applications.  The course develops critical thinking, reading, writing and verbal communication skills through small group activities, projects, in class discussions and expository questions on exams and quizzes.

IV. COURSE OBJECTIVES:
A. After completion of this course a student should be able to:
  1)  explain the concept of limit from both a graphical and numerical viewpoint,
  2)  evaluate limits of functions defined algebraically,
  3)  compute the derivative of an algebraic, exponential and logarithmic function,
  4)  explain the relationship between first and second derivative and the  increasing/decreasing nature and the concavity of a
       function,
  5)  be able to take an optimization problem expressed in narrative form -- build an  appropriate mathematical model, apply
       differential calculus techniques to find the  optimal solution and then interpret this solution within the framework of the
       original problem
  6)  compute anti-derivatives and evaluate definite integrals for algebraic, exponential  and logarithmic functions
  7)  use integral calculus to find area
  8)  explain how the concepts of consumer and producer surplus can be approached  through integral calculus.
B. The student should gain an insight into the power and broad use of calculus techniques to solve problems arising in business, economics, social and behavioral sciences, life sciences and physical sciences.

V. CONTENT OUTLINE:
A. Limit and Continuity
developed from numerical, graphical and algebraic viewpoints
basic computational skills are developed
B. Derivative
introduced from the limit definition
basic skills in differentiation are developed
applications of the derivative are studied in depths:
related rate problems, curve sketching, optimization
C. Integral calculus
basic concepts are developed
the fundamental theorem of calculus is used to solve problems of area between two curves, consumer/producer surplus .

VI. INSTRUCTIONAL ACTIVITIES:
A. The development of mathematical skills require hands-on experiences by the student.  With this in mind, activities and assignments are chosen to allow students to study and practice the mathematical skills introduced in the course.  In the classroom an interactive format is used;  student input is critical to the presentation of the day's material.  On occasion, the class is broken into small groups where students work in teams to solve more complicated problems, wrestle with challenging concepts and experience the synthesis of knowledge that occurs in explaining concepts to one another.  Students are encouraged to continue these small group experiences by forming study partner relationships with other members of the class.

B. This course requires a considerable amount of reading, writing and critical thinking. The development of the mathematical framework is a continuous exercise in critical thinking -- for example the concept of the limit is developed and then the notion of the derivative is built by viewing it as the limit of a certain quotient.   The theory that is built up in this manner is then utilized by the student to solve applied problems.  Applied problems are approached by a four step process: 1) read and understand the problem -- illustrate the situation by a diagram or table;  2) develop a strategy -- look for patterns, think of analogous problems, find a way to connect the known information with the unknown; 3) carry out the strategy;  and 4) interpret the results within the context of the original situation.  Students are expected to be able to explain their steps with words, graphs and tables;  this explanation is a fundamental part of the problem.

VII. FIELD AND CLINICAL EXPERIENCES: none

VIII. RESOURCES:
Text
Scientific or graphing calculator
Tutoring services through the Learning Center
Instructor provides at least 12 scheduled office hours per week to assist students.

IX. GRADING PROCEDURE:
Exams, projects and/or quizzes are used to assess the student's development of mathematical skills, their understanding of key concepts and their ability to express this understanding via numerical and graphical and narrative methods.  Critical thinking and mathematical writing are major components of exams and quizzes.  These skills are evaluated in terms of clarity, organization, notation, correctness of mathematical procedures and ability to explain results.  Group work may be evaluated or not  (e.g. activity may be for learning purposes);  graded group work is usually in the form of a group quiz -- with each group member receiving the same grade.  There will be 3 - 5 exams, projects and/or quizzes and a final exam.  These are  weighted:

 Exam avg. 40 - 60%
 Quiz/project 10 - 30%
 Final Exam 15 - 30 %

Letter grades will be assigned by the following scale:
  90-100%       A
  80-89%         B
  70-79%         C
  60-69%         D
  Below 60%    E

X. ATTENDANCE POLICY:
Attendance is mandatory and is monitored by some method determined by the individual instructor.

XI. ACADEMIC HONESTY POLICY:
Any instance of academic dishonesty, as determined by the instructor (in compliance with Board of Regents policy on Academic Integrity - FEB. 1975)  will result in zero points for the assignment and possibly a grade of "E" for the course.

XII. TEXT AND REFERENCES:
Current

XIII. PREREQUISITES:
A math ACT score of at least 23  or MAT 140

Last updated February 14, 2000. Designed and maintained by Kyosung Koo