GCNU1015 Manage Your Money without Formulas (3 units)
- Medium of Instruction:
This course begins with an introduction to different types of interest arisen in e.g. savings, student loans, credit cards, mortgages and life insurance policies, followed by basic growth models and the more complicated annuity models commonly found in Hong Kong. An EXCEL Tutorial will also be included in order to introduce the computer skills needed to model and solve problems using EXCEL spreadsheets. We will also cover more advanced ideas including forecasting trends in interest rates, estimating the market-price behaviour, and carrying out simulations. This knowledge will allow students to select the best deals from the overwhelming number of plans offered by Hong Kong financial institutions. Local examples not only provide a sense of familiarity for students, but also make the skills acquired in this course applicable to Hong Kong situations. These examples will help build a strong foundation in logical thinking and problem solving and enable students to use cost-benefit analysis as a decision-making tool in their daily lives. We hope this course will help students learn to enjoy using mathematics in real life.
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