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Business and Consumer Mathematics

I.     Course Prefix/Number: MAT 111

       Course Name: Business and Consumer Mathematics

       Credits: 4 (4 lecture; 0 lab)

II.    Prerequisite

None.

III.   Course (Catalog) Description

Course reviews arithmetic and introduces algebraic techniques. Content includes profit and loss, interest, amortization, installment transactions, percentage, discount, taxes, depreciation and statistics. Calculators and spreadsheets used where appropriate. Intended for students pursuing Oakton degrees and certificates in business related fields.

IV.   Learning Objectives

1.     Apply arithmetic and algebra operations in solving problems with whole numbers, fractions, decimals, equations and formulas.
2.      Perform percentage calculations with discount, markup, depreciation, and taxes.
3.     Apply the rules of  exponents to business problems.
4.     Apply simple and compound interest to installment sales and annuities.
5.     Calculate  payroll earnings and insurance.
6.     Understand the relationship of mathematics to financial statements.
7.     Apply  basic concepts of statistics to business.
8.     Use calculators and spreadsheets to solve business problems.

V.    Academic Integrity

Students and employees at Oakton Community College are required to demonstrate academic integrity and follow Oakton's Code of Academic Conduct. This code prohibits:

• cheating,
• plagiarism (turning in work not written by you, or lacking proper citation),
• falsification and fabrication (lying or distorting the truth),
• helping others to cheat,
• unauthorized changes on official documents,
• pretending to be someone else or having someone else pretend to be you,
• making or accepting bribes, special favors, or threats, and
• any other behavior that violates academic integrity.

There are serious consequences to violations of the academic integrity policy. Oakton's policies and procedures provide students a fair hearing if a complaint is made against you. If you are found to have violated the policy, the minimum penalty is failure on the assignment and, a disciplinary record will be established and kept on file in the office of the Vice President for Student Affairs for a period of 3 years.
Details of the Code of Academic Conduct can be found in the Student Handbook.

VI.   Sequence of Topics

1.    Problem Solving with Whole Numbers and Decimals
2.    Problem Solving with Fractions and Percent
3.    Problem Solving with Formulas and Equations
4.    Statistics, Tables and Graphs
5.    Bank Records
6.    Payroll
7.    Trade and Cash Discounts
8.    Markup and Markdown
9.    Simple Interest and Simple Discount
10.         Compound Interest, Future Value, and Present Value.
11.         Annuities and Sinking Funds
12.         Consumer Credit
13.         Depreciation
14.         Inventory, Turnover, and Overhead
15.         Financial Statements
16.         Insurance
17.         Taxes
18.         Stocks and Bonds
19.         Use of Calculators and Spreadsheets.

VII.  Methods of Instruction

Methods of instruction may include lectures, discussion, demonstration, experimentation, audio-visual, group work, and regularly assigned homework.
Calculators / computers will be used when appropriate.
Course may be taught as face-to-face, media-based, hybrid or online course.

VIII. Course Practices Required

Course practices include attending class, completing homework assignments, participating in discussions and taking quizzes and exams.

IX.   Instructional Materials

Note: Current textbook information for each course and section is available on Oakton's Schedule of Classes.

Textbook information for each course and section is available on Oakton's Schedule of Classes. Within the Schedule of Classes, textbooks can be found by clicking on an individual course section and looking for the words "View Book Information".

Textbooks can also be found at our Mathematics Textbooks page.

A scientific calculator, notebook, and earphones are required.

X.    Methods of Evaluating Student Progress

Evaluation methods can include assignments, quizzes, chapters or major tests, individual or group projects, computer assignments and/or a final examination.

XI.   Other Course Information

Individual instructors will establish and announce specific policies regarding attendance, due dates and make-up work, incomplete grades, etc.

If you have a documented learning, psychological, or physical disability you may be entitled to reasonable academic accommodations or services. To request accommodations or services, contact the Access and Disability Resource Center at the Des Plaines or Skokie campus. All students are expected to fulfill essential course requirements. The College will not waive any essential skill or requirement of a course or degree program.