CMS2 500_Course Outline_summer 2023 - Google Docs

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Mathematics for Management COURSE OUTLINE GENERAL INFORMATION Course Number CMS2 500 Section # 771 Term Summer Year 2023 Course Pre-requisite(s) CMSC 000 Foundations of Mathematics with a min of a B- OR Exemption By Examination Course Co-requisite(s) None Course Schedule Wednesdays 6:05pm-8:55pm COURSE LECTURER’S INFORMATION Name Dr. Vahid Kamali Email vahid.kamali2@mcgill.ca Office hours Wednesday 5pm–6pm (SH688 1047) COURSE OVERVIEW This course covers basic mathematics needed for business applications, including graphs of functions, series summation, mathematics of finance, annuity, discounted cash flow, internal rate of return, permutations, combinations, maxima and minima of functions with business applications in optimization, introductory statistics and probability. LEARNING OUTCOMES This course comprises three parts that are essential in management: 1) Mathematics of finance, 2) Introduction to combinatorics, statistics and probability, and 3) Introduction to infinitesimal calculus and optimization. At the end of this course students will be able to: 1 - have a good understanding of the basics and terminology of finance. 2 - use appropriate data to compute a wide range of notions related to mortgages, annuities, bonds, etc. 3 - understand and use the basics of combinatorics such as counting principles and permutations. 4 - form the appropriate sample space for a given problem and be able to find the probability of a set of outcomes. 5 - understand and compute essential notions in statistics such as variance, standard deviation, etc. 6 - implement tools from the calculus of infinitesimals such as differentiation to solve optimal value problems. These tools are essential in making any business model or taking any advanced course in mathematics of finance. McGill School of Continuing Studies - Page 1

INSTRUCTIONAL METHOD Mode of Delivery: In class lectures. Attendance is strongly encouraged but not mandatory. When a student cannot attend a lecture, it is their responsibility to read the relevant missed chapters. Practice problems will be posted on my Courses. They will not be marked. However, solving all of them is crucial to improving your understanding of the material covered in the course. Roughly speaking, for each 3 hours of course lecture, students are expected to spend at least 6 hours studying the material and solving problems. REQUIRED COURSE MATERIAL Mathematics for Management, 3rd Custom Edition, Pearson Learning Solutions, ISBN: 978-1-323-24391-6 OPTIONAL COURSE MATERIAL ASSIGNMENTS AND EVALUATIONS **THE PASSING GRADE FOR THIS COURSE IS 65%.** The marking scheme in this course will be: Quizzes (15%) + Midterm (25%) + Final exam (60%) There will be 3 quizzes, each worth 5% of the total mark. Only scientific non-programmable calculators are permitted. No financial calculators and no calculators capable of storing text. The weekly suggested problems are an integral part of the course workload. It is the student’s responsibility to complete them in order to understand the material covered. Assessment Item Due Date % Quiz 1 May 24 5% Quiz 2 Jul 5 5% Quiz 3 Jul 26 5% Midterm Jun 14 25% Final Exam TBD 60% McGill School of Continuing Studies - Page 2

DETAILED COURSE CONTENT Class Date Content Description 1 May 3 Pre-class reading: Appendices A & B, Chapter 1, Chapter 2 sections 1, 3 and 4 A very quick review of functions, quadratic functions, polynomial and rational functions Chapter 2, sections 5, 6; Chapter 3, sections 1, 2 Exponential Functions; Logarithmic Functions; Simple Interest; Promissory Notes 2 May 10 Chapter 3, sections 3, 4, 5, 6, 7 Treasury Bills; Demand Loans; Compound and Continuous Compound Interest; Future Value of an Annuity; Present Value of an Annuity 3 May 17 Chapter 3, section 8; Chapter 4 sections 1, 2 Residential Mortgages; Purchase Price of Bonds; Premium and Discount 4 May 24 QUIZ 1 Chapter 4, section 5; Chapter 5, section 1 Sinking Funds; Discounted Cash Flow 5 May 31 Chapter 6, sections 1, 2; Chapter 7 sections 1, 2 Basic Counting Principles; Permutations and Combinations; Sample Spaces, Events and Probability; Union, Intersection and Complement of Events 6 Jun 7 Chapter 7, sections 3, 4, 5; Chapter 8, section 1 Conditional Probability and Independence; Bayes’ Formula; Random Variable, Probability Distribution and Expected Value; Graphing Data 7 Jun 14 MIDTERM 8 Jun 28 Chapter 8, sections 2, 3, 4, 5 Measures of Central Tendency; Measures of Dispersion; Bernoulli Trials and Binomial Distributions; Normal Distributions 9 Jul 5 QUIZ 2 Chapter 9, sections 1, 2, 3, 4 Introduction to Limits; The Derivative; Basic Differentiation Properties; Differentials 10 Jul 12 Chapter 9, section 5; Chapter 10, sections 1, 2, 3, 4 Marginal Analysis in Business and Economics; The Constant e and Continuous Compound Interest; Derivatives of Exponential and Logarithmic Functions; Derivatives of Products and Quotients; The Chain Rule 11 Jul 19 Chapter 10, sections 5, 6, 7; Chapter 11, section 1 Implicit Differentiation; Related Rates; First Derivative and Graphs 12 Jul 26 QUIZ 3 Chapter 11, sections 2, 3, 4 Second Derivative and Graphs; Absolute Maxima and Minima; Optimization 13 Aug 2 Review McGill School of Continuing Studies - Page 3

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Grading System Undergraduate Courses You must obtain a grade of C or better in courses that you take to fulfil program requirements. You may not register in a course unless you have passed all the prerequisite courses with a grade of C or better, except by written permission of the appropriate department chair. Graduate Courses You must obtain a grade of B- or better in courses that you take to fulfil program requirements. You may not register in a course unless you have passed all the prerequisite courses with a grade of B- or better, except by written permission of the appropriate department chair. What does a final course grade of “J” mean? A “J” grade is a failing grade due either to (i) an unexcused absence for an official final exam, or (ii) failure to submit required work worth more than 20% of the final grade for the course as a whole. A “J” is calculated as a failure in the TGPA and the CGPA. Graduate Level Grade Undergraduate Level (85-100%) Pass A (85-100%) (80-84%) A- (80-84%) (75-79%) B+ (75-79%) (70-74%) B (70-74%) (65-69%) B-* (65-69%) C+ (60-64%) C (55-59%) D ** (50-54%) (0-64%) Failure F (0-49%) Failure Pass P Pass * B- is the minimum required grade for all Certificate in Translation courses & CMSC000. ** Although a D is a passing grade, it will not permit entry into a subsequent course for which it is a prerequisite, and nor will it be recognized if the course is a required course in your program. To learn more about University letter grades , visit this page: https://www.mcgill.ca/study/2018-2019/university_regulations_and_resources/continuing/scs_gi_student_records_grading_ grade_point_average . To learn more about assessment of student work , consult this page: https://mcgill.ca/secretariat/files/secretariat/2016-04_student_assessment_policy.pdf . Final Grades The official final course grade is the one that appears in Minerva. An unofficial final grade appearing in other locations may be subject to change. The School of Continuing Studies reserves the right to correct mistakes. Important Information Land Acknowledgment McGill University is located on land that has long served as a site of meeting and exchange amongst Indigenous peoples, including the Haudenosaunee and Anishinabeg nations. McGill honours, recognizes, and respects these nations as the traditional stewards of the lands and waters on which we meet today. McGill School of Continuing Studies - Page 4

1. McGill Resources for Academic Success (a) Inclusive Learning Environment McGill is committed to providing an inclusive and supportive learning environment. If you experience barriers to learning in this course, do not hesitate to discuss them with your instructor. If you have a special learning need or disability, you are encouraged to contact the Office for Students with Disabilities. For more information, visit their website at https://mcgill.ca/osd/ . (b) Equity, Diversity, and Inclusion McGill University is committed to promoting an equitable environment where the fundamental dignity of all of its members is respected. The objectives of McGill’s Policy on Harassment, Sexual Harassment and Discrimination Prohibited by Law are to promote education and awareness about equity issues and to ensure that procedures are in place to address complaints of harassment, sexual harassment and discrimination prohibited by law. McGill University is also committed to creating and sustaining a safe environment through proactive, visible, accessible and effective approaches that seek to prevent and respond to sexual violence. McGill's Policy against Sexual Violence underlines this commitment and ensures that procedures are in place to address complaints of sexual violence. Should you experience discrimination, harassment, bullying, or any other form of victimization, contact the Senior Equity & Inclusion Advisor (SEIA). Visit their website at: https://www.mcgill.ca/how-to-report/about-contact/seia . If you are interested in learning more about equity, diversity, and inclusion, visit the Social Equity and Diversity (SEDE) website at: https://www.mcgill.ca/branches-program/ . (c) Health and Wellness Student well-being is a priority for the University, the School (SCS), and the McGill Association of Continuing Education Students (MACES). Should you find yourself in need of support, please keep in mind that there are a number of resources available to help you. Many SCS students are automatically covered by the MACES Health and Dental Plan. For further details, please visit the MACES website at https://maces.ca/ . In addition, effective September 2021, eligible students will also be covered by a virtual healthcare service provided by “Dialogue” through MACES. The Dialogue service allows students to connect virtually with nurses and physicians in Canada via a mobile or web app. Both the MACES Health and Dental Plan and the Dialogue app include access to professional psychologists. MACES students also currently have free access to Keep.meSAFE, a psychological counselling service where students can speak to a counsellor in one of six languages . For more information, please visit the SCS Student Services web page at https://www.mcgill.ca/continuingstudies/student-services . (d) COVID-19 Academic Considerations Framework The University has put in place a protocol for students who receive a positive COVID-19 test, start exhibiting symptoms, or have been asked to self-quarantine due to contact with someone who has tested positive. Note that students in any of these circumstances must follow certain protocols that will ensure their own health and safety and that of the rest of the McGill community. Please consult this page for what steps to follow: https://www.mcgill.ca/coronavirus/health-guidelines/potential-covid-19-exposure-what-do . The University has also put in place a protocol for students who may require academic considerations in the Fall 2021 semester related to COVID-19 . Please consult the Academic Considerations Framework document on this McGill School of Continuing Studies - Page 5

page: https://www.mcgill.ca/coronavirus/return-campus-fall-2021/fall-2021-students/faqs-students . The document can be found under the follow FAQ: “What academic accommodations related to COVID-19 are available to students.” (e) Student Services • Various services Various services such as Walksafe, McGill Libraries, the Writing Centre, the bookstore, etc., are available to Continuing Education students at Student Services and Resources: https://www.mcgill.ca/continuingstudies/getting-started . • Computer Labs Free access to computer labs is available at 688 Sherbrooke (12th floor), MACES, the McLennan Library and other locations on campus • Minerva and Online Resources Access your personal student information online with Minerva: https://horizon.mcgill.ca/pban1/twbkwbis.P_WWWLogin . For issues related to student accounts, call 514-398-7878. Information related to online resources such as email, VPN, my Courses, etc. can be found at IT Services: https://www.mcgill.ca/it/ .Free access to computer labs is available at 688 Sherbrooke (12th floor), MACES, the McLennan Library and other locations on campus. • MACES The McGill Association of Continuing Education Students, MACES: https://maces.ca/ , is located at 3437 Peel, 2nd floor, tel. (514) 398-4974 services such as Walksafe, McGill Libraries, the Writing Centre, the bookstore, etc., are available to Continuing Education students at Student Services and Resources: https://www.mcgill.ca/continuingstudies/getting-started . (f) McGill Writing Centre (MWC) Tutorial Service Writing well is key to both academic and professional success. The McGill Writing Centre (MWC) offers credit courses in academic and professional writing, and a tutorial service open to all McGill students. The tutorial service offers one-to-one sessions with seasoned instructors and experienced tutors who will work with you at any stage of the writing process. For information about the availability of in-person and online appointments, please visit the following website: https://www.mcgill.ca/mwc/tutorial-service . (g) McGill Library Find a workshop, learn about library services, and reach out to your liaison librarian for research help at https://www.mcgill.ca/library/orientation . 2. Academic Conduct (a) Academic Integrity Students are responsible for knowing McGill’s rules and regulations concerning academic honesty, which can be found on the Student Rights and Responsibilities website. Violations of academic integrity undermine not only the value of honest students' work, but also the academic integrity of the University and the value of a McGill credential. The Student Rights and Responsibilities website provides resources that can help students avoid dishonest work, McGill School of Continuing Studies - Page 6

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and an explanation of the disciplinary measures that go with it. To learn more about academic integrity, visit the following website: https://mcgill.ca/students/srr/ . As of Fall 2019, all newly admitted students must complete the Academic Integrity Tutorial (AIT) in Minerva during their first semester at McGill. Failure to complete the tutorial will place a hold in Minerva and restrict the student from registering for courses in the following semester. The Tutorial can be accessed as follows: Minerva 🡪 Student Menu 🡪 Academic Integrity Tutorial. Work submitted for evaluation as part of this course may be checked with text-matching software within myCourses . (b) Respectful and Professional Communication This course is designed to help you learn to communicate professionally both during your time at McGill and in your future workplaces. In keeping with McGill’s policies on student rights and responsibilities, it is expected that during class discussions and small group interactions you will communicate constructively and respectfully. Sexist, racist, homophobic, ageist, and ableist expressions will not be tolerated in the classroom or during group meetings held outside of class. To learn more about these policies, please consult this site: https://mcgill.ca/students/srr/policies-student-rights-and-responsibilities . 3. Policy Against Sexual Harassment and Violence McGill University is committed to creating and sustaining a safe environment through proactive, visible, accessible, and effective approaches that seek to prevent and respond to sexual harassment and sexual violence. McGill's Policy against Sexual Violence underlines this commitment and ensures that procedures are in place to address complaints. To learn more, visit the Office for Sexual Violence Response, Support, and Education website at this link: https://www.mcgill.ca/osvrse/ . Sexual Violence Training: “It Takes All of Us” In accordance with Québec law (Bill 151), all newly admitted students must complete the sexual violence training course, called “It Takes All of Us,” in my Courses during their first semester at McGill. Failure to complete the training will place a hold in Minerva and restrict the student from registering for courses in the following semester. The training can be accessed through my Courses and will appear as a separate course in your profile. For more information, please visit this site: https://www.mcgill.ca/osvrse/ . 4. Policy on Harassment and Discrimination McGill University is committed to promoting an equitable environment where the fundamental dignity of all of its members is respected. The objectives of McGill’s Policy on Harassment and Discrimination Prohibited by Law are to promote education and awareness about equity issues and to ensure that procedures are in place to address complaints. To learn more about McGill’s policy, including how to report a complaint, visit this site: https://www.mcgill.ca/how-to-report/ . • COURSE is administered via myCourses . Students are advised to check the myCourses site on a daily basis . Failure to do so may result in your missing important information. Neither absence from class nor failure to check myCourses is an acceptable excuse for being unaware of important course-related information . McGill School of Continuing Studies - Page 7

• Assignment Submission: Please refer to the section “ASSIGNMENTS AND EVALUATIONS” shown above concerning assignment submission for this course. Legitimate exceptions for late submission of assignments include documented medical, family, and personal emergencies, and observance of holy days. Students planning to observe holy days https://www.mcgill.ca/importantdates/holy-days-0/policy-holy-days listed in the McGill calendar should notify the instructor by email no less than two weeks prior, and preferably at the beginning of the course. • Recording class activities: Students may not record any class proceedings or collect any electronic data (including photos and videos) from class activities without the express consent of the instructor. • Instructor generated course materials (e.g., handouts, notes, summaries, test questions, etc.) are protected by law and may not be copied or distributed in any form or in any medium without the explicit permission of the instructor. Note that infringements of copyright can be subject to follow up by the University under the Code of Student Conduct and Disciplinary Procedures https://www.mcgill.ca/deanofstudents/students/student-rights-responsibilities/code . • Email communication: Note that, in accordance with McGill University’s official email policy, the instructor will not respond to email messages sent from outside the McGill network (e.g., hotmail). As well, while instructors appreciate that email correspondence is an efficient method of communication, students should keep in mind that instructors are not on call. Students should therefore not expect a response to emails during the weekend or after 5:00 p.m., Mondays through Fridays. Prior to contacting instructors via email, students seeking course-related information, including information about assignments, should first attempt to locate that information by (a) consulting the course syllabus or textbook, (b) consulting materials uploaded to the course website ( myCourses ), or (c) consulting with other students in the class. Generally speaking, during the week, a valid request submitted via e-mail will receive a response within 36 hours, exclusive of weekends and statutory holidays. 5. Exam Policy • Right to submit in English or French In accord with McGill University's Charter of Students' Rights, students in this course have the right to submit in English or in French any written work that is to be graded. However, in cases where language acquisition is part of the assessment objectives, the work must be submitted in the language to be evaluated. • Midterm Exam Conflicts Students requesting the rescheduling of a mid-term examination(s) due to a religious, business-related, or scheduling conflict must submit the Mid-term Examination Conflict form, together with supporting documentation, to the School of Continuing Studies, Client Services Office, at least two (2) weeks prior to the date of the scheduled mid-term examination(s) . Students who miss a mid-term examination(s) due to medical reasons must complete and submit the Mid-term Examination Conflict form, with supporting documentation, within two (2) business days from the date of the missed mid-term examination(s). The relevant form can be found on this web page: www.mcgill.ca/continuingstudies/forms . • Final Exam Policy Students should not make other commitments during the final exam period. Vacation plans do not constitute valid grounds for the deferral or the rescheduling of examinations. See the School of Continuing Studies Calendar for the regulations governing examinations, or consult this web page: www.mcgill.ca/continuingstudies/exams . McGill School of Continuing Studies - Page 8

• Identification Students are required to present their McGill photo I.D. card for entrance to their examination. • Exam Schedule Examination schedules are posted online approximately 6 weeks before the examination period begins. The exam schedule can be found on this web page: www.mcgill.ca/continuingstudies/important-dates-exam-information . • Final Exam Conflicts and Deferrals An exam conflict is defined ONLY as either two or more exams scheduled on the same date at the same time, OR a conflict created by religious constraints. Details about conflict procedures can be found on the Final Examination Conflict form. Students may request a deferral of final examinations or timed tests for medical reasons or out-of-town business commitments, both of which must be validated in writing with a medical certificate or company letter. Vacations are not considered a valid reason for requesting a deferral. The relevant form can be found on this web page: www.mcgill.ca/continuingstudies/exams-conflicts-deferrals-and-rereads . • Return of Assignments Marked assignments cannot be picked up from the offices of the School of Continuing Studies. Therefore, if your marked assignments are not available in class before the end of term, you must submit a self- addressed stamped envelope to your instructor; otherwise, these assignments will not be returned. Remember to keep a photocopy or back-up of your work before it is handed-in to your instructor. The official version of this course outline is the version posted on my Courses. In the event of extraordinary circumstances beyond the University’s control, the content and/or evaluation scheme in this course is subject to change. McGill School of Continuing Studies - Page 9

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