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Introduction to Mathematical Modeling through Financial Calculations

Introduction to Mathematical Modeling through Financial Calculations. George Cazacu Georgia College & State University, Milledgeville, Georgia. Course Description. Course Content. Technology.

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Introduction to Mathematical Modeling through Financial Calculations

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  1. Introduction to Mathematical Modeling through Financial Calculations George Cazacu Georgia College & State University, Milledgeville, Georgia Course Description Course Content Technology This course is an introduction to mathematical modeling. Graphical, numerical, symbolic, and verbal techniques will be used to describe and explore real world phenomena. Special emphasis will be placed on financial examples like mortgages, loans, lottery, and casino games. Elementary functions, supported by the use of appropriate technology and effective communication of quantitative concepts and results will be used to investigate and analyze applied problems and questions. • Graphing calculators with regression capabilities. • A digitizing tablet can/may/will be used to produce and collect examples and for presentations. • Models, functions, graphs. • Constructed functions. • Limits and continuity (intuitive approach). • Linear, exponential, logarithmic, polynomial, logistic, & piecewise models. • Change, rates of change. Outcomes Course Assignments & Assessments Data Collection Course activities involve, but are not limited to, lecturing, group projects, minute challenges, excel simulations. Debate and cooperative learning will be strongly encouraged. Students’ skill level on each outcome will be evaluated with a pretest. The course assignments will reinforce and increase the students’ proficiency in all outcome areas. During the semester students will receive written and oral feedback and complete self-evaluations. At the end of the semester students will complete post-tests to measure the changes in skill level for each desired outcome. • Students will develop and strengthen their basic manipulative skills in college-level mathematics. • Students will make use of elementary functions and appropriate technology to mathematically translate and investigate real-world situations and phenomena. • Students will enhance their ability to communicate effectively orally and in writing. Group Presentations - Students will analyze data, develop a mathematical model of the data, and interpret the data in the context of their topic. The group presentation will be assessed for both mathematical content and effective communication. Fitting functions to data (Example) – Students will use a chart to find a model for mortgage amortization and use the model to make predictions. Sample Visual Basic Code to be used in an Excel Simulator PrivateSubMortgage_Click Dim p AsDoubleDim i AsDoubleDim l AsDoubleDim m AsDoubleDim j AsDoubleDim n AsDouble i = txtinterest.Text p = txtloan.Text l = txtterm.Text j = i /(1200) n = l *12 m =(p *(j /(1-(1+ j)^-n))) txtpayment.Text=CDbl(m)EndSub

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