Dr. Austin's M329F, Fall 2019
Theory of Interest
Unique #52910


CLASS MEETINGS     MWF 10:00 - 10:50 am in PMA (rlm) 5.116

INSTRUCTOR                  Dr. Austin
Jennifer K. Mann Austin, Ph.D.
Office: PMA (rlm) 8.112
Office Hours: Wednesdays 11:30 am - 12:30 pm, Thursdays 11:45 am - 12:45 pm, Fridays 11:30 am - 12:30 pm
Email: jmann@math.utexas.edu <<----This is THE way to communicate with me outside of class and office hours.
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.

CALCULATORS        You are required to have a financial math calculator and to bring it with you to class daily. 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 23 and bring it to class.

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. Therefore, you should 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. Therefore, you should 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, there is no need to email 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. All of this information can be found via our Canvas course calendar, files, announcements, assignments, etc. I realize that sometimes 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 (e.g., “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. If a student misses a semester exam, then he or she will need to meet individually with Dr. Austin to determine whether a medical withdrawal or an incomplete is appropriate.
Exam 1: Monday, September 23
Exam 2: Friday, October 25
Exam 3: Monday, November 25

FINAL EXAM DATE             Friday, December 13, 2019, 9:00 am - 12:00 pm in PMA (RLM)
See the university schedule here: http://registrar.utexas.edu/schedules/199/finals
The mandatory final exam will be a cumulative, in-class exam. You cannot miss this, thus plan accordingly. Final exams are not returned to students.

HOMEWORK
Homework will be posted on Canvas and Quest. Students are encouraged to discuss all aspects of the course with each other. Homework is your opportunity to practice and try the concepts of our course in a low-stakes assignment. I want to strongly encourage you to give an honest attempt on the variety of problems that I will assign as homework. Utilize my office hours and really work to fully understand each homework assignment.

There will be two types of homework assignments - (1) textbook assignments and (2) Quest assignments.
(1) Textbook Assignments: You must upload a pdf file of your homework in Canvas. Homework must be typed using appropriate mathematical typesetting, such as LaTeX or MathType. 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 submissions 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. All due dates will be posted on the Canvas calendar. The lowest textbook assignment grade will be dropped before the course grade is calculated.
(2) Quest Assignments: These must be completed and submitted online via Quest. The lowest Quest assignment grade will be dropped before the course grade is calculated.

Required Notice Regarding Quest: This course makes use of the web-based Quest content delivery and homework server system maintained by the College of Natural Sciences at The University of Texas at Austin. This homework service will require a $30 charge per student for its use, which goes toward the maintenance and operation of the resource. Please go to http://quest.cns.utexas.edu to log into the Quest system for this class. At some point during the second or third week, when you log into Quest, you will be asked to pay via credit card on a secure payment site. You have the option to wait up to 14 days to pay while still continuing to use Quest for your assignments. If you are taking more than one course using Quest, you will not be charged more than $60/semester. Quest provides mandatory instructional material for this course, just as your textbook, etc. For payment questions, email questhelp@austin.utexas.edu.

CLASS PARTICIPATION      
We all learn by doing. As Undergraduate Mathematics Faculty Advisor, the first thing I hear from employers who come to campus to recruit our students is that they are looking for graduates who not only can do mathematics but who can communicate well both with their colleagues and their clients. Throughout the semester there will be multiple formal cooperative learning and presentation opportunities. Our small class is a great environment in which you will be challenged to develop and refine your skills in oral and written communication, productive debating, explaining and defending your work, and working together on a team.

When Dr. Austin leads the class presentation there will be ample opportunities for students to contribute to the class discussions. Moreover, there will be many times that your fellow classmates are presenting in class. In all classes you are expected to answer directed questions, to ask questions for any needed clarity, and to add helpful comments. You will often work in groups and present problems during class meetings. When either Dr. Austin 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 class examples, assigned homework problems, group work, exam review problems, and class discussions. Your participation grade will be based on individual presentations, class discussion contributions (answering questions, providing clarifications, etc. as noted by Dr. Austin recording your name in class), engagement checks participation, and engagement in group work. UT Instapoll within Canvas will be utilized for most, if not all, of the engagement checks occuring in class throughout the semester. Students need to bring an internet-ready device such as a smartphone to class each day. Finally, the instructor will be the sole arbiter of the class participation portion of your grade and will not negotiate with you in any manner.

GRADING      
10% Quest Homework
8% Textbook Homework
16% Class Participation
16% Exam 1
16% Exam 2
16% Exam 3
18% 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 Monday, December 9, 2019. 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, M408L, or M408S with a grade of at least C-.

COURSE DESCRIPTION        M329F Theory of Interest is an upper division applied mathematics course that covers most of the content for the SOA Exam FM. Although this is a required course for actuarial science students it is also a great practical mathematics course for any student as M329F students master the terminology, notation, and techniques needed to understand the fundamental concepts of financial mathematics. Students apply those concepts across topics including nominal and effective interest and discount rates, general accumulation functions and force of interest, yield rates, annuities including those with non-level payment patterns, amortization of loans, sinking funds, bonds, spot and forward rates, interest rate swaps, duration, and immunization. See http://www.soa.org/education/exam-req/ for further details regarding the FM exam.

DEPARTMENTAL SYLLABUS        http://www.ma.utexas.edu/academics/courses/syllabi/M329F.php

COURSE WEBSITE        http://www.ma.utexas.edu/users/jmann/f18M329F.html
Additionally, course notes, exam review guides, grades, and other essential course information will be posted on Canvas. Exam dates, the course schedule, and homework assignments will be shown on the Canvas course 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. Austin.

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, and an assortment 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 noisemakers. 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        See our Course Calendar in Canvas. 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 13 (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 October 31 it is not possible to drop a course except for extenuating (usually non-academic) circumstances.

POLICY ON ACADEMIC INTEGRITY
Students who violate University rules on academic dishonesty are subject to disciplinary penalties, including the possibility of failure in the course and/or dismissal from the University. Since such dishonesty harms the individual, all students, and the integrity of the University, policies on academic dishonesty will be strictly enforced. At a minimum, you should complete any assignments, exams, and other scholastic endeavors with the utmost honesty, which requires you to: acknowledge the contributions of other sources to your scholastic efforts; complete your assignments independently unless explicitly authorized to seek or obtain assistance in preparing them; follow instructions for assignments and exams, and observe the standards of your academic discipline; and avoid engaging in any form of academic dishonesty on behalf of yourself or another student. For further information, please visit the Student Conduct and Academic Integrity website.

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 on Facebook        https://www.facebook.com/groups/155626557888005

Actuarial Science Club        https://sites.cns.utexas.edu/actuarialscienceclub

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