Business Math
Syllabus
Course Essential Questions
- What mathematical concepts appear in business?
- How does mathematics support the key functions of business?
- How can you evaluate the financial health of a business?
- How do companies use data to make decisions?
Course Learning Objectives
- Apply key math skills and formulas used in business applications.
- Use financial information to make business decisions.
- Explore the different ways businesses are organized.
- Conduct market research to inform business strategy.
Unit 1: Basic Math in Business (Weeks 1-4)
Unit Level Essential Question
- What fundamental math concepts are necessary when running a business?
Week 1: Lining Up the Numbers
Weekly Learning Objectives
- Apply the rules and policies of the course, and expectations of you as a contributing member of our learning community.
- Build community by sharing important information with your teacher and classmates about yourself and your school.
- Develop your skills for navigating the course environment and using the various course tools.
- Practice key math skills relevant to business math.
Week 2: Graphing to Make Decisions
Weekly Learning Objectives
- Graph a linear equation by plotting points.
- Create a line and bar graph to communicate business information.
- Interpret data to make business decisions.
Week 3: Measurements in Business
Weekly Learning Objectives
- Identify geometric and spatial considerations in a retail store layout.
- Calculate square footage to make a purchasing decision.
- Describe the factors used in overhead cost calculations.
Week 4: Probability in Business
Weekly Learning Objectives
- Calculate Expected Value to make a business decision.
- Calculate mean, median, and mode to make a business decision.
- Describe applications of probability in business.
- Predict an outcome using probability and statistical analysis.
Unit 2: Foundations of Business (Weeks 5-8)
Unit Level Essential Question
- What data must be collected before starting a business?
Week 5: The Cost of Goods and Services
Weekly Learning Objectives
- Analyze costs associated with producing a product or service.
- Describe pricing strategies and techniques used by major retailers.
- Develop a pricing strategy for a product.
Week 6: Buyers and Sellers
Weekly Learning Objectives
- Conduct market research using secondary sources.
- Organize market data into a graph or chart.
- Compare market research strategies for response rate and data validity.
Week 7: Business Organizations
Weekly Learning Objectives
- Identify direct and indirect costs associated with running a business.
- Calculate business tax liability.
- Evaluate and compare different types of business organizations.
- Conduct market research to determine the viability of a business idea.
Week 8: Credits and Debits
Weekly Learning Objectives
- Reconcile a business checking account.
- Compare the costs and benefits of different business checking accounts.
- Describe the pros and cons of offering products or services on credit.
- Evaluate market research strategies.
Unit 3: Financial Health (Weeks 9-11)
Unit Level Essential Question
- How do businesses use financial information to make decisions?
Week 9: Costs and Revenue
Weekly Learning Objectives
- Estimate potential sales.
- Determine a break-even point.
- Analyze market data to inform pricing.
Week 10: Profits and Losses
Weekly Learning Objectives
- Identify data used in a balance sheet and income statement.
- Compile financial data and calculate profits against expenses.
- Calculate equity in a business using the accounting equation.
Week 11: The Balance Sheet
Weekly Learning Objectives
- Research and interpret financial statement entries of a publicly traded company.
- Use financial statements to evaluate a company.
- Investigate and recommend inventory management for financial health.
Unit 4: Business Start Up (Weeks 12-15)
Unit Level Essential Question
- What are the ongoing costs to run a business and how are they managed?
Week 12: Marketing and Advertising
Weekly Learning Objectives
- Evaluate advertising channels for different markets.
- Recommend an advertising method through return on investment.
- Develop a marketing strategy using market research data.
Week 13: Funding the Business
Weekly Learning Objectives
- Compare and contrast funding options for business.
- Calculate interest to determine the cost of credit.
- Evaluate purchasing options for necessary materials and equipment.
- Determine investor priorities related to return on investment.
Week 14: Help Wanted!
Weekly Learning Objectives
- Identify direct and indirect costs associated with hiring employees.
- Calculate payroll expenses.
- Recommend staffing choices to meet production requirements.
Week 15: The Business Plan
Weekly Learning Objectives
- Outline the steps to starting your business.
- Convince others to invest in your business.
- Analyze business pitches for investment.
- Finish the course, say goodbye to classmates, and take your final exam.