Dr. Mann's ACF329, Fall 2015
Theory of Interest
Unique #52515 and #53685


CLASS MEETINGS     MWF 10:00 - 10:50 am in RLM 5.118

INSTRUCTOR                  Dr. Mann
Jennifer K. Mann Austin, Ph.D.
Office: RLM 11.150
Office Hours: Wednesdays 1:30 - 2:30 pm, Thursdays 12:30 - 1:45 pm, and Fridays 11:00 - 11:45 am
Email: jmann@math.utexas.edu
Website: http://www.ma.utexas.edu/users/jmann/

TEXT               Mathematical Interest Theory, Second Edition, Vaaler & Daniel, Mathematical Association of America.

SUPPLEMENT               Student Solution Manual for Mathematical Interest Theory, 2nd Edition, Vaaler, Mathematical Association of America.

HONOR CODE          The class is expected to uphold The University of Texas at Austin Honor Code. The core values of the University of Texas at Austin are learning, discovery, freedom, leadership, individual opportunity, and responsibility. Each member of the University is expected to uphold these values through integrity, honesty, trust, fairness, and respect toward peers and community.

QUANTITATIVE REASONING               This course carries the Quantitative Reasoning flag. Quantitative Reasoning courses are designed to equip you with skills that are necessary for understanding the types of quantitative arguments you will regularly encounter in your adult and professional life. You should therefore expect a substantial portion of your grade to come from your use of quantitative skills to analyze real-world problems.

INDEPENDENT INQUIRY               This course carries the Independent Inquiry flag. Independent Inquiry courses are designed to engage you in the process of inquiry over the course of a semester, providing you with the opportunity for independent investigation of a question, problem, or project related to your major. You should therefore expect a substantial portion of your grade to come from the independent investigation and presentation of your own work.

ATTENDANCE POLICY
You are expected to attend all class meetings. If you are absent, do not email or otherwise contact me to ask what material we covered during class, what the assignments are, what sections the exams will cover, or any other questions that I have answered or will answer during class. I realize that sometimes an absence is necessary. In such a situation, you should contact a classmate to get notes and information for the class you missed. It is a good idea to work together throughout the semester.

SEMESTER EXAM DATES
There are three in-class exams during the semester. There will be no makeup exams. If you miss an exam and have a valid excuse (“a broken leg,” not “a party the night before”), then your score will be replaced by your score on the final examination. If you miss an exam without a valid excuse, your score will be a zero. Use of approved calculators is expected during exams. Dr. Mann does give partial credit on exams. However, Dr. Mann entertains NO discussion of partial credit. If a student misses a semester exam, then he or she will need to meet individually with Dr. Mann to determine whether a medical withdrawal or an incomplete is appropriate.
Exam 1: Monday, September 21
Exam 2: Monday, October 19
Exam 2: Monday, November 16

FINAL EXAM DATE              Thursday, December 10, 2015, 9:00 am - 12:00 pm
See the university schedule here: http://registrar.utexas.edu/schedules/159/finals
The mandatory final exam will be a cumulative, in-class exam. You cannot miss this, so plan accordingly. Final exams are not returned to students.

HOMEWORK
Homework will be posted in Canvas. Homework is due via online submission by 5:00 pm Fridays as indicated on the Canvas calendar. You must upload a pdf file of your homework in Canvas. Homework be typed using appropriate mathematical typesetting, such as LaTeX or MathType. Only a portion of each homework assignment will be graded for accuracy, although all problems will be graded for attempt. Students are encouraged to discuss all aspects of the course with each other. However, each student should type and submit their own solutions to homework problems. Copying another student's solution or that from another text is a violation of the honor code and fails to contribute to your personal mathematical development. Students must show ALL work to each solution. No late homeworks will be accepted for any reason! No credit will be given for unsupported answers. This means that all work should be shown, neatly and logically, using correct notation.

CLASS PARTICIPATION      
When Dr. Mann leads the class presentation there will be ample opportunities for students to contribute to the class discussions. Students are expected to answer directed questions, to ask questions for any needed clarity, and to add helpful comments. Students will work in groups and present problems during class meetings. When either Dr Mann or a student is presenting, the other classmates are required to ask questions and make certain they understand what has been presented. The presenter has the first opportunity to address any questions or comments, and then other classmates are encouraged to contribute. Student presentations will come from assigned homework problems, group work, exam review problems, and class discussions. Your participation grade will be based upon attendance, individual presentations, contributions to class discussions, effort exhibited in class, and engagement in group work. Three well presented problems will earn a student a class participation grade of 75 (on a 100 point scale). Up to 25 additional points may be earned through a combination of extra problem presentations and contributing to class discussions.

GRADING      
14 % Homework
16% Class Participation
16% Exam 1
16% Exam 2
16% Exam 3
22% Final Exam

The lowest exam grade will be replaced by the final exam grade if the final exam grade is higher than the lowest exam grade. Grades will be recorded in Canvas. Canvas is NOT used to determine your semester grade in this course. Canvas is only used as a means to store and share your grades. All of your individual grades will remain in Canvas as the score you originally earned on each of them. Your semester grade for the course is determined as detailed in this syllabus. No semester assignments will be accepted after the last day of classes Friday, May 8, 2015. Your final exam grade is final and non-negotiable. Thus, any discussions of your course grade must occur prior to the final exam administration.

Plus/minus grades will be assigned for the final grade as follows: A (100-92.6), A- (92.5-89.6), B+ (89.5-86.6), B (86.5-82.6), B- (82.5-79.6), C+ (79.5-76.6), C (76.5-72.6), C- (72.5-69.6), D+ (69.5-66.6), D (66.5-62.6), D- (62.5-59.6), F (59.5-0).
 
PREREQUISITE        M408D or M408L, with a grade of at least C-.

COURSE DESCRIPTION        This course covers the mathematical theory of interest with applications to investments and corporate finance. Topics include accumulation of interest in discrete and continuous time, nominal and effective interest, present and future values, annuities and variable cash flows, yield rates, amortization schedules, loans, valuation of stocks, bonds and other securities, and the assessment of corporate financial performance using standard financial models. The material is chosen to help prepare students that are taking the Financial Mathematics Exam, also referred to as Exam FM by the SOA (Society of Actuaries) and Exam 2 by the CAS (Casualty Actuarial Society). See http://www.soa.org/education/exam-req/ for further details regarding these exams.

CALCULATORS        You are advised to use the Texas Instruments BAII Plus calculator or the Texas Instruments BAII Plus Professional calculator. These calculators have the advantage of being approved by the SOA. Also, our textbook gives detailed instructions on how to use them. Please have one ready by Wednesday, January 21 and bring it to class.

COURSE WEBSITE        http://www.ma.utexas.edu/users/jmann/f15ACF329.html
Additionally course notes, exam review guides, grades, and other essential course information will be posted in Canvas and/or the course Facebook group. Exam dates, the course schedule, and homework assignments will be shown on the calendar.
 
ADVICE FOR SUCCESS
Actively participate in the course by attending class, participating in class discussions, asking questions in class, working the assigned homework problems, and utilizing the office hours of Dr. Mann.

Before you email me to ask a question about the rules and procedures of this course, please read through this syllabus to see if the answer is written here. I diligently tried to include here any information that you might ask; please utilize it.
 
SERVICES AVAILABLE TO STUDENTS
The University of Texas provides appropriate academic accommodations for qualified students with disabilities. Students with disabilities may request appropriate academic accommodations from the Division of Diversity and Community Engagement, Services for Students with Disabilities, 471-6259. http://www.utexas.edu/diversity/ddce/ssd/

COMPUTER LAB
The mathematics department's 40 seats undergrad computer lab, RLM 7.122, is open to all students enrolled in math courses. Students can sign up for an individual account themselves in the computer lab using their UT EID. We have most of the mainstream commercial math software: mathematica, maple, matlab, magma, and an asortment of open source programs.
RLM Building Hours are:               
M-Th:  6:00am -- 11:00pm                   
F:  6:00am -- 10:00pm                
Sat:  6:00am -- 5:00pm                
Sun:  2:00pm -- 11:00pm

STUDENT CONDUCT
Silence all cell phones and other noise makers. Please come to class on time. If you will be late or need to leave early for some legitimate reason, please tell me in advance. Coming and going during class is distracting to your fellow students and the instructor, and we do not like it.

PLANNED TOPIC and EXAM SCHEDULE        http://www.ma.utexas.edu/users/jmann/f15ACF329_cal.pdf
Deviations from this tentative calendar may occur during the semester. The actual material covered each day can only be determined by attending class.

RELIGIOUS HOLIDAYS
By UT Austin policy, you must notify me of your pending absence at least fourteen days prior to the date of observance of a religious holy day. If you must miss a class, an examination, a work assignment, or a project in order to observe a religious holy day, you will be given an opportunity to complete the missed work within a reasonable time after the absence.

DEADLINES FOR DROPPING A COURSE
If you drop a class on or before September 11 (12th class day), the class will not show up on your transcript. If you drop a class after that date, the course will show up on the transcript with a "Q" grade. After November 3 it is not possible to drop a course except for extenuating (usually non-academic) circumstances.

EMERGENCY EVACUATION POLICY
Occupants of buildings on The University of Texas at Austin campus are required to evacuate buildings when a fire alarm is activated. Alarm activation or announcement requires exiting and assembling outside. Familiarize yourself with all exit doors of each classroom and building you may occupy. Remember that the nearest exit door may not be the one you used when entering the building. Students requiring assistance in evacuation shall inform their instructor in writing during the first week of class. In the event of an evacuation, follow the instruction of faculty or class instructors. Do not re-enter a building unless given instructions by the following: Austin Fire Department, The University of Texas at Austin Police Department, or Fire Prevention Services office.

Behavior Concerns Advice Line
BCAL: 512-232-5050

Link to information regarding emergency evacuation routes and emergency procedures can be found at: www.utexas.edu/emergency

Actuarial Science Club        http://www.ma.utexas.edu/dev/asc/

Return to Dr. Mann's Home Page        http://www.ma.utexas.edu/users/jmann/