MATH 244 (Business Mathematics) is a three-credit, introductory mathematics course that is designed to introduce the basic mathematical skills that are needed to understand, analyse, and solve mathematical problems that are encountered in business, finance, and in investment decision making.
MATH 244 has no prerequisites, though students are expected to be able to perform the basic arithmetic operations, such as addition, subtraction, multiplication, and division with ease, and to have some familiarity with fractions, algebraic operations, and with some basic mathematical principles. There is a “Mathematics Diagnostic Assessment” that contains seventy questions that will help you to assess their mathematical skills. Based on your score, it will recommend which Athabasca University mathematics courses you are likely able to succeed at.
Business Mathematics is made up of twelve units, four assignments weighing five percent, one midterm weighing thirty-five percent, and a final exam worth forty-five percent. The twelve units within this course cover practical and useful topics such as marketing mathematics, annuities, loans, mortgages, bonds, sinking funds, investment decisions, and compound interest. This course will teach you the reasons why your student loan takes a ridiculous amount of time to pay off!
Dr. James Greenwood-Lee was born and raised in Calgary, Alberta and is the course coordinator for MATH 244 (Business Mathematics), as well as SCIE 326 (Scientific Reasoning), MATH 409 (Number Theory), MATH 481 (Mathematical Modeling II), MATH 495 (Mathematics Projects), and MATH 496 (Mathematics Projects). He joined Athabasca University in 2010 as a tutor and became an Assistant Professor in 2015. He completed an undergraduate degree in Zoology at the University of Calgary and then went to Queen’s for his graduate studies in Mathematics. After that he moved back to Calgary because he and his wife wanted their children to grow up close to their family. He states, “Now I have two awesome kids, who are continually besting me at everything!”
If you are interested in learning more about Scientific Reasoning, read my SCIE 326 Course Exam Article!
He continues, “MATH 244 is offered as an individualized study, with twelve units to work through. Evaluation is based on four assignments, a midterm, and a final exam. The assignments are straight forward, consisting of a problem sets for students to work through. The importance of the assignments lies in the opportunity for students to receive feedback on their work prior to the exams. The exams are each three hours long, with the midterm focusing on the first half of the course and the final focusing on the last half. Technically, the final is not cumulative, but because the later units build on the earlier units, there is some overlap. A list of key formulas is provided for both the midterm and final exams and approved financial calculators can be used.”
Dr. Greenwood-Lee states, “MATH 244 requires consistent work from the student and practicing exercises is essential. Be sure to check out the online resources that are included as part of the e-text. Most importantly, seek feedback and discussion from your tutors and your peers.”
When asked who he would recommend this course to, he states “Who should take this course? Everyone! Why? Simply because we should all have a very basic understanding of financial mathematics and there are some very practical applications which we all face at some point or another. How do these mortgages compare, and which type of mortgage is best suited for me? How much is that car loan/lease really costing me? How should I invest my money if I am risk adverse vs risk tolerant? Think of it this way… it is math you might actually use!”
Whether MATH 244 is a degree requirement of yours or the topics mentioned above are of interest to you, this course will have you learning practical and useful topics that will definitely help you in the future!