BU/MS-110 Business Mathematics

GENERAL INFORMATION:

Course number and title : BU/MS110 Business Mathematic

Campus : National

Initiator : George Mangonon

Date Initiated : August 20, 2018

Course description :

This course provides solid preparation and foundation for going to courses and careers in accounting, marketing, retailing, banking, finance and business administration. It will provide the student skills in calculating specific business mathematics applications such as checking accounts, payroll, taxes, invoices, cash discounts, trade discounts, inventories, simple and compound interest, annuities, mortgages, depreciations, and financial statements. It also offers skills in business statistics basic computation, presentation, and analysis.

COURSE HOURS/CREDITS:

Hours per Week

No. of Weeks

Total Hours

Semester Credits

Lecture

Laboratory

Workshop

Total Semester

Credits

PURPOSE OF COURSE:

[X] Degree requirement

[ ] Degree elective

[ ] Certificate

[ ] Other

PREREQUISITES:

MS099 Intermediate Algebra

PSLOS OF OTHER PROGRAMS THIS COURSE MEETS:

PSLO#	Program
N/A

1) INSTITUTIONAL STUDENT LEARNING OUTCOMES (Check all that apply)

[ ]	1. Effective oral communication: capacity to deliver prepared, purposeful presentations designed to increase knowledge, to foster understanding, or to promote change in the listeners’ attitudes, values, beliefs, or behaviors.
[ ]	2. Effective written communication: development and expression of ideas in writing through work in many genres and styles, utilizing different writing technologies, and mixing texts, data, and images through iterative experiences across the curriculum.
[ ]	3. Critical thinking: a habit of mind characterized by the comprehensive exploration of issues, ideas, artifacts, and events before accepting or formulating an opinion or conclusion.
[X]	4. Problem solving: capacity to design, evaluate, and implement a strategy to answer an open-ended question or achieve a desired goal.
[ ]	5. Intercultural knowledge and competence: a set of cognitive, affective, and behavioral skills and characteristics that support effective and appropriate interaction in a variety of cultural contexts.
[ ]	6. Information literacy: the ability to know when there is a need for information, to be able to identify, locate, evaluate, and effectively and responsibly use and share that information for the problem at hand.
[X]	7. Foundations and skills for life-long learning : purposeful learning activity, undertaken on an ongoing basis with the aim of improving knowledge, skills, and competence.
[X]	8. Quantitative Reasoning: ability to reason and solve quantitative problems from a wide array of authentic contexts and everyday life situations; comprehends and can create sophisticated arguments supported by quantitative evidence and can clearly communicate those arguments in a variety of formats.

2) PROGRAM STUDENT LEARNING OUTCOMES (PSLOs): The student will be able to:

1. Demonstrate basic knowledge of each of the functional areas of business - accounting, management, marketing, economics, and finance- by emphasizing their importance in an organization and describing their interrelationships in the organization’s attempt to achieve its objectives;

2. Demonstrate basic knowledge and skill in the use of cost and managerial concepts and techniques as management tools for planning, controlling, evaluating performance and making decisions;

3. Demonstrate basic knowledge and skill in business mathematics and elementary statistics by accurately performing common business computations, statistical data presentation and analysis;

4. Demonstrate basic knowledge and skills in intercultural writing and speaking appropriate for business; and

5. Demonstrate a basic understanding of the legal environment and ethical challenges confronting business in general and in the FSM, from both local and global perspectives.

3) COURSE STUDENT LEARNING OUTCOMES (CSLOs) (General): The student will be able to:

1. Demonstrate basic skills in business applications;

2. Demonstrate basic skills in business retailing;

3. Demonstrate basic skills in business finance and accounting; and

4. Demonstrate basic skills in business statistics.

4) COURSE STUDENT LEARNING OUTCOMES (CSLOs) (Specific): The student will be able to:

CSLO (General) 1: Demonstrate basic skills in business applications.
Student Learning Outcome (specific)	ISLO	PSLO	Assessment Strategies
1.1. Complete all documents relating to checking accounts and check registers and successfully reconcile a checkbook and balance a bank statement.	4,7,8	3	The instructor will use a grading rubric to assess a class work that will require the student to complete all documents relating to checking accounts and check registers and successfully reconcile a checkbook and balance a bank statement.
1.2. Prepare all components of a payroll and identify and describe the various types of earnings and deductions.	4,7,8	3	The instructor will use a grading rubric to assess a test that will require the student to prepare all components of a payroll and identify and describe the various types of earnings and deductions.
1.3. Calculate sales tax, excise tax, property tax, individual income tax, corporate income tax, and net income after taxes.	4,7,8	3	The instructor will use a grading rubric to assess a test that will require the student to calculate sales tax, excise tax, property tax, individual income tax, corporate income tax, and net income after taxes, using at least two national tax laws (e.g. U.S. and FSM laws).
CSLO (General) 2: Demonstrate basic skills in business retailing.
Student Learning Outcomes (specific)	ISLO	PSLO	Assessment Strategies
2.1. Complete a sales invoice and solve retail and wholesale sales problems, including trade and cash discounts.	4*,7,8	3	The instructor will use a grading rubric to assess a test that will require the student to complete a sales invoice and solve retail and wholesale sales problems, including trade and cash discounts.
2.2. Calculate costs, selling prices, markups and markdowns of goods.	4,7,8	3	The instructor will use a grading rubric to assess a test that will require the student to calculate costs, selling prices, markups and markdowns of goods.
2.3. Determine ending inventory by using different valuation methods, and calculate inventory turnover rate.	4,7,8	3	The instructor will use a grading rubric to assess a test that will require the student to determine ending inventory by using FIFO (First-in, First Out), LIFO (Last-In, First-Out), average cost, LCM (Lower-of-Cost-or-Market) rule, retail, and gross profit valuation methods, and calculate inventory rate using the retail and cost methods.
CSLO (General) 3: Demonstrate basic skills in business finance and accounting.
Student Learning Outcomes (specific)	ISLO	PSLO	Assessment Strategies
3.1. Use various formulas for interest to solve problems involving simple and compound interest and present value, and notes and bank discounts.	4,7,8	3	The instructor will use a grading rubric to assess a test that will require the student to use various formulas for interest to solve problems involving simple and compound interest and present value, and notes and bank discounts.
3.2. Solve problems involving annuities, amortization of mortgage, and depreciation.	4,7,8	3	The instructor will use a grading rubric to assess a test that will require the student to solve problems involving annuities, amortization of mortgage, and depreciation.
3.3. Complete and analyze a balance sheet, income statement, and financial ratios.	4,7,8	3	The instructor will use a grading rubric to assess a test that will require the student to complete and analyze a balance sheet, income statement, and financial ratios.
CSLO (General) 4: Demonstrate basic skills in business statistics.
Student Learning Outcomes (specific)	ISLO	PSLO	Assessment Strategies
4.1 Interpret information from a table.	4,7,8	3	The instructor will use a grading rubric to assess a test that will require the student to interpret information from a table.
4.2 Construct charts in presenting data.	4,7,8	3	The instructor will use a grading rubric to assess a test that will require the student to construct different charts in data presentation.
4.3 Calculate measures of central tendency and dispersion of an ungrouped data.	4,7,8	3	The instructor will use a grading rubric to assess a test that will require the student to calculate measures of central tendency and dispersion (mean, median, mode, range) of an ungrouped data.
4.4 Construct frequency distribution and histogram of a grouped data.	4,7,8	3	The instructor will use a grading rubric to assess a test that will require the student to construct frequency distribution and histogram of a grouped data.

5) COURSE CONTENT:

· Bank Concepts

Payroll
Taxes

· Trade Discounts and Cash Discounts

· Mark up and Markdown

Inventory

· Simple Interest and Notes

· Compound Interest and Present Value

Annuities
Mortgages
Depreciation

· Financial Statements

· Business Statistics

6) METHOD(S) OF INSTRUCTION:

[X] Lecture [X] Cooperative learning groups

[ ] Laboratory [X] In-class exercises

[X] Audio visual [ ] Demonstrations

[ ] Other

7) REQUIRED TEXT(S) AND COURSE MATERIALS:

Brechner, Robert, et al. Contemporary Mathematics for Business and Consumers. 8^th Ed. Cengage Learning, 2017 (or most recent edition).

8) REFERENCE MATERIALS:

None

9) INSTRUCTIONAL COSTS:

None

10) EVALUATION:

The summative evaluation will be based on examinations, authentic evaluations and a final project.

11) CREDIT BY EXAMINATION:

None

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BU/MS-110 Business Mathematics