Syllabus
MAT 340: Theory of Interest
TTh 5:15-6:30 SLN #80188 PSA 302
Instructor: Toni Coombs
Office: ECA 207 webpage:
e-mail: Office Hours: 10:40-12:30 MWF, and by appointment
The approach will be applied and problem-oriented. The course will be useful to students preparing for work in mathematical economics and finance. It will also be an excellent preparation for the financial math examination of the Society of Actuaries.
Prerequisites: Calculus (MAT 270-272).
Text: Mathematics of Investment and Credit, third edition, Samuel A. Broverman
ACTEX Study Manual for the SOA Exam FM & CAS Exam 2, Fall 2007 Edition, Hassett, Ratliff, and Steeby
Grading:Take home Quizzes: 65%
Midterm and Final: 35%
The instructor WILL be using the plus/minus grading system.
Schedule: This is subject to modification by the instructor
Week / Topics / Due Dates1 8/20-8/24 / Ch 1 – Time value of money
2 8/27-8/31 / Ch 1 – Time value of money
3 9/3-9/7 / Ch 2 - Annuities / Quiz 1 due Tue 9/4
4 9/10-9/14 / Ch 2 - Annuities
5 9/17-9/21 / Ch 2 - Annuities / Quiz 2 due Tue 9/18
6 9/24-9/28 / Ch 3 – Loan repayment
7 10/1-10/5 / Ch 3 – Loan repayment / Quiz 3 due Tue 10/2
8 10/8-10/12 / Ch 3 – Loan repayment / MIDTERM – Mon-Tue – 10/8-10/9
9 10/15-10/19 / Ch 4 - Bonds
10 10/22-10/26 / Ch 4 - Bonds / Quiz 4 due Tue 10/23
11 10/29-11/2 / Ch 5 – Rate of Return
12 11/5-11/9 / Ch 5 – Rate of Return / Quiz 5 due Tue 11/6
13 11/12-11/16 / Ch 6 – Term Structure
14 11/19-11/23 / Ch 6 – Term Structure / Quiz 6 due Tue 11/20 Thanksgiving – 11/22
15 11/26-11/30 / Ch 7 – Duration and Immunization
16 12/3-12/7 / Review/Catch-up / Quiz 7 due Tue 12/4
IMPORTANT DATES
: Withdraw Deadline: Nov 2nd
: Restricted Complete Withdrawal Dec 4
Look at ASU course catalog for policies regarding withdrawals and incompletes.
NOTES:
Any changes announced in class are considered as official rules for the class. Check my website for daily announcements and changes.
Exams: There will be one exam given during the semester. This exam will involve a mix of mechanical skills and conceptual reasoning. The best possible preparation for the exam is regular attendance and completion of assigned quizzes. Makeup exams are given only in the case of verified medical or other emergency, which must be documented. The instructor must be notified before the test is given.
Final Exam: The final is comprehensive. It will be given according to the official Arizona State University final exam calendar. There will be no make-up's given for the final, and no finals will be rescheduled for personal reasons, including non-refundable airplane tickets.
Quizzes: Quizzes will be collected and graded. Students may work together on homework, but each individual student is required to write-up and turn in their own work. LATE QUIZZES ARE NOT ACCEPTED! However, at the end of the semester, I will drop your lowest quiz scores to allow for something to “come up.”
Ethics: It is highly unethical to bring to your instructor’s attention the possible impact of your grade on your future plans, including graduation, scholarship, jobs, etc. The instructor may exercise an option to withdraw you from the course if they think you are compromising the ability to assess your work independently of any other consideration.
Students found to be involved in academic dishonesty will be removed from the class and a grade of “E” for the course will be submitted to the registrar. The student will be advised to repeat the course with another professor, possibly at another institution. This is the least action taken. Further, more serious actions may be taken if the situation indicates that such actions are appropriate. We will act very harshly against cheating during quizzes or exams