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BU098 Business Math

Course Description:
The design of this course is to explore real world concepts of business math by use of applications in banking, merchandising (retail and wholesale), hotel industry, real estate, and others. It will guide students thruough the basic mathematical skills of whole numbers and decimals, fractions, percenages, statistics, and equations. These skills will then be applied to business situation such as payrolls, discounts, markup/markdown, interest, credit, and more

  • Prerequisite Courses: None

A. PROGRAM LEARNING OUTCOMES (PLOS):
The student will be able to:

  1. Demonstrate proper bookkeeping techniques for a small business
  2. Demonstrate general computer competence and information technology literacy.
  3. Describe small business management techniques.
  4. Communicate effectively in English for business purposes.
  5. Perform business computations and apply logic as needed.
  6. File documents properly and use common office machiness.

B. STUDENT LEARNING OUTCOMES (SLOS) - GENERAL
The student will be able to:

  1. Demonstrate understanding of basic mathematics concepts;
  2. Demonstrate basic skills in business applications;
  3. Demonstrate basic skills in business finance and accounting.

SLO

PLO 1

PLO 2

PLO 3

PLO 4

PLO 5

PLO 6

1

 

 

 

 

D

 

2

 

 

 

 

D

 

3

 

 

 

 

D

 

4

 

 

 

 

D

 

I = Introduced
D = Demonstrated
M = Mastered

C. STUDENT LEARNING OUTCOMES (SLOS) – SPECIFIC
The student will be able to:

General SLO 1: Demonstrate understanding of basic mathematics concepts

Student Learning Outcomes

Assessment strategies

1.1 Perform basic operations of fractions

Classwork, Groupwork, Homework, Test

1.2 Perform the basic operations of decimals

1.3 Write decimals and fractions as percents

1.4. Analyze statistical problems using frequency distribution, graphs, mean, median, mode, and standard deviation

1.5. Solve basic equations and applications

General SLO 2: Demonstrate basic skills in business applications


Student Learning Outcomes

Assessment strategies

2.1 Identify banking services, the checking services and credit card transactions

Classwork, Groupwork, Homework, Test

2.2 Prepare bank reconciliation statements

2.3 Compute Gross earnings and net pay using a variety of payment method and kinds of deductions

2.4 Solve sales and property tax problems

General SLO 3: Demonstrate basic skills in business retailing


Student Learning Outcomes

Assessment strategies

3.1 Understanding how invoices are prepared and the computation of trade and cash discounts

Classwork, Groupwork, Homework, Test

3.2 Perform calculations relating to markup based on cost and selling price and computation of markdown.

3.3 Calculate the value of inventory by weighted average, LIFE, or FIFO

General SLO 4: Demonstrate basick skills in business finance and accounting


Student Learning Outcomes

Assessment strategies

4.1 Understand how altering principal, rate, and time affect the simple interest on an amount

Classwork, Groupwork, Homework, Test

4.2 Apply the concept of value changing over time in a simple interest note to calculate maturity value and/or present value

4.3 Understand how compound interest differs from simple interest, and calculate the compound amount given the various rates and compounding periods

4.4 Calculate and compare various methods of depreciation.

4.5 Interpret date using mean, median, mode, index numbers, graphs, and standard deviation

D. COURSE CONTENT

  1. Basic Mathematics
    • Operations with Fractions
    • Equations and Formulas
    • Percent
  2. Basic Business Application
    • Banking Services
    • Payrolls
    • Taxes
  3. Mathematics and Retailing
    • Mathematics and Buying
    • Mark Up
    • Markdown and Inventory Control
  4. Mathematics and Finance
    • Simple Interest
    • Compound Interest
  5. Accounting and Other Applications
    • Depreciation
    • Business Statistics

E. METHODS OF INSTRUCTION

Lectures, class discussion, individual and group assignments


F. REQUIRED TEXT AND COURSE MATERIALS

Hansen, M. (2010).Business Math 17thed)OH:South-Western, Cengage Learning.
or most recent edition)

G. REFERENCE MATERIALS
None

H. INSTRUCTIONAL COST
None

I. EVALUATION
None

J. CREDIT BY EXAMINATION
None

 

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