AFNORTH INTERNATIONAL SCHOOL
Course Overview (2004-2005)
Math of Personal Finance (MBF 3C) Mrs. K. Benke
Course Description
This course enables students to broaden their understanding of exponential growth and of important areas of personal finance. Students will investigate properties of exponential functions and develop skills in manipulating exponential expressions; solve problems and investigate financial applications involving compound interest and annuities; and apply mathematics in making informed decisions about transportation, accommodation, and career choices.
For most students, this is the 3rd and final math course required for graduation in Ontario, Canada.
Expectations
The curriculum and expected student achievements are comprised of three strands:
1) Models of Exponential Growth (10 periods)
- students will demonstrate an understanding
of the nature of exponential growth;
- students will describe the mathematical
properties of exponential functions;
- students will manipulate expressions
related to exponential functions.
2) Applications of Compound Interest and Annuities (30 periods)
- students will solve problems involving
arithmetic and geometric sequences and series;
- students will solve problems involving
compound interest and annuities;
- students will demonstrate an understanding
of the effect on investment and
borrowing of compounding interest.
3) Personal Financial Decisions (40 periods)
- students will demonstrate an understanding
of the costs involved in owning and operating a vehicle;
- students will determine, through
investigation, the relative costs of renting an apartment and buying a house;
- students will design effective personal and
household budgets for individuals and families described in case studies;
- students will demonstrate the ability to
make informed decisions involving life situations;
- students will apply decision making in the
investigation of career opportunities.
Detailed course expectations are in the textbook, at the beginning of each chapter.
Use of Technology
It is expected that students will provide and become proficient in the use of a scientific calculator to analyse exponential functions. Graphing calculators and spreadsheet software will also be used for specific financial calculations. Applications will be studied and practised via case studies. Information will be gathered from various print sources including the Internet.
Text: Mathematics – Making Financial Decisions 11, ©2001, McGraw-Hill Ryerson Ltd
Assessment/Evaluation
Students will be assessed/evaluated according to the attached Achievement Chart under four categories: Knowledge (Understanding), Inquiry (Thinking & Problem Solving), Communication (Oral & Written), and Applications.
The Ontario provincial standard for student
performance is Level 3 (70-79%). This
means a credit is granted with high knowledge and skills. It indicates the student is well prepared
for work in the next grade. Level 4
(80-100%) indicates very high to outstanding knowledge and skills.
Assessment/evaluation in this course may include some or all of the following: tests, case studies, assignments, projects, quizzes, journals, portfolios, presentations.
Formative Assessment
Formative assessment is intended to provide students with descriptive feedback to guide their efforts toward improvement. These tasks may not “count” toward the final mark for the unit, but they will be directly related to the final summative assignment or test for the unit (which does count!). Class work habits will determine whether assignments need to “count”.
Summative Evaluation
Summative evaluation occurs toward the end of a unit and provides an opportunity for students to demonstrate what they have learned.
70% of the grade for this course will be based on assessment and evaluation activities conducted throughout the course, in the four areas of achievement (Knowledge, Inquiry, Communication, and Application).
Students should also work toward a high standard of presentation in all written work and expect spelling and grammar to count.
The breakdown of marks will be as follows:
Tests 25%
Case studies & Assignments 35%
Journal and/or Presentation 10% (includes data collection portfolio)
Final exam & task 30%
Report
Cards
The academic year is divided into 2 semesters. US and international students receive 2 half-credits with grades calculated for each semester. Canadian students receive 1 full credit with marks cumulated throughout the year. The US office will send progress reports by email 3 times per semester and produce a transcript with final grades at the end of each semester. The Canadian office will send complete transcripts of grades and learning skills 3 times per year.
Learning Skills : (Canadian students only)
Five areas have been identified as learning skills and are being evaluated separately from academic achievement: work habits/homework, organization, initiative, teamwork, and working independently. These are very important skills to learn at school and at home, as they are crucial in determining future success in employment or post-secondary schooling. Both parents and students need to pay close attention to this section of the report card, and to understand the impact that these skills have on learning, despite the fact that they are not directly factored into the academic mark. (Similar feedback is available to US and international students upon request.)
Late Work
Due dates for all assignments will be agreed upon by students and teacher in advance, and so,
late submissions reflect poorly on the student’s organization and time management skills.
Late assignments will not be accepted after correct solutions have been posted. The student will have to negotiate an alternate way to demonstrate achievement of the expectation(s).
Absence
In accordance with school policy, parents will validate all student absences for illness, etc by providing a note for the teacher, or otherwise notifying the appropriate high school office so that the computerized attendance record is accurate. If the attendance record says “Absent no reason” it will be interpreted as “Truant” and test or assignment marks may be forfeited. Absence due to sleeping in and working on assignments is not acceptable.
Students should make arrangements immediately upon their return from any absence(before 9am) to make up missed tests and/or hand in assignments.
Athletic Eligibility
In accordance with school policy, athletic eligibility is reported weekly, but determined on a quarterly basis. Each quarter the slate is wiped clean, so to speak. Note that a student who is passing the course, may be failing the quarter and so be ineligible; while a student who is failing the course, may be passing the quarter, and so be eligible to play.
Scope and Sequence:
The objective of this course is to develop students understanding of financial concepts that will be of use to them throughout their lives (with a minimum of math theory).
Some of the key expectations are:
- design an effective financial plan to facilitate the achievement of a long-term goal
- design a budget suitable for a family described in a case study, reflecting the current costs of common items;
- describe a decision involving a choice between alternatives
- collect relevant information related to the alternatives to be considered
- explain the process used in making a decision and justify the conclusions
- compare the expected income for a variety of occupations with the costs of the education or training
- determine through investigation, the properties of a variety of investment alternatives
Students at AFNorth are in the unique (compared to home) situation of living in a foreign country and working with students from several countries. This will allow the pursuit of course expectations from several viewpoints. Students will be expected to gather information from the local environment as well as their home country. Students will be encouraged to work in their own language and develop the financial vocabulary of their home country. (But of course, assignments will have to be prepared in English or French.)
Parents please assist students as much as possible with data collection, and discuss financial concepts and decisions with them. Make them aware of the issues at “home” regarding banking, borrowing, credit, buying houses & cars, etc; so they may share with their classmates.
Students please participate fully in the data collection. A portfolio of current costs of common items (food, cars, houses, etc) will be part of the grade.
Detailed
Course Sequence
Quarter 1 Ch 1 Personal Financial Planning - definitions
Ch 10 Personal Financial Decisions - future income
Ch 7 Vehicle Costs - collection of data
Ch 9 Accommodation Costs - collection of data
Quarter 2 Ch 1 Simple Interest
Ch 2 Exponential Expressions
Ch 6 Exponential Growth
Ch 4 Savings & Investment Alternatives
** Start of Investment Project
Quarter 3 Ch 3/4 Sequences and Compound Interest
Ch 5 Annuities
Ch 7 Car Loans
Ch 8 Consumer Spending – credit cards
Quarter 4 Ch 9 Mortgages
Ch 1 Budgeting & Saving
** Final task
Final Task & Exam
Students will read and analyze a financial “self-help” book, prepare a case study and monitor an investment portfolio of stocks and mutual funds.
Extra
help:
Students may make arrangements for extra help almost any day before or after school, or of course during the Seminar period. There should be ample time during class to finish assignments and ask questions.
Email: Parent or student may contact Mrs Benke at school: kim_benke@eu.odedodea.edu
Canadian
Curriculum Courses in Mathematics
