math and the real world cornel university_050915
TRANSCRIPT
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Math in the Real World
Lee Kaltman Cornell University
May 9th, 2015
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A little about me
• Finance Degree, Babson College
• 10 years business development
• 10 years public school math teacher
• 3 years experimenting with new ways to provide pedagogy
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What is an educator’s job?
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To guide students to master standards and
certify the mastery
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Transference
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How do you apply what you are doing in class in
the real world?
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When%I%look%at%this%I%see%Math.%What%Math%do%you%see?%
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Authentic projects with student teams
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Service Learning Internship
https://vimeo.com/69880515
Step two: Common Core StandardCCSS.Math.Content.HSN-Q.A.2 Define appropriate quantities for the purpose of descriptive modeling.
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Finance Internship!
!©2014 by School.me, Inc. all rights reserved.
!
Learning(Opportunity!! Investment!Apprenticeship! !!
Description(Collaboratively!perform!diligence!on!investments!and!!compile!research!reports.!!Performance!based!stipend.!
( (Essential(question(
How!does!one!maximize!the!return!on!an!investment?!!(Inputs!are!financial,!social,!sustainable,!and!happiness!values)!
!Multidiscipline(learning(experience(
Math%/Science/%Art/%Social%Science/%Language%Arts%/%Health/%PE/%Art%Common%core%aligned:%http://www.corestandards.org/the>standards%
%Cdetermine!asset!class!and!create!valuation!framework!
Cperform!market!research!looking!at!macro!and!micro!factors!Creflect!on!the!opportunity!cost!attributed!to!time!value!of!money!
Cperform!cash!flow!analysis,!as!well!as!tangible!value!analysis!Cperform!social!impact!analysis,!as!well!as!sustainable!value!analysis!
Ccreate!assumptions,!make!predications,!and!assess!risks!Cdetermine!valuation!and!evaluate!finance!alternatives!
!Skills(required(
Ability!to!perform!or!desire!to!learn!basic!computer!skills!such!as!“office!suite”!products,!ability!to!use!a!calculator,!ability!to!comprehend!both!two!dimensionally!as!well!as!three!dimensionally,!ability!to!focus!on!a!longCterm!
project!with!specific!tasks,!ability!to!keep!confidence!of!proprietary!information,!ability!to!work!on!a!team,!ability!to!multiCtask,!ability!to!take!
risks,!ability!to!accept!failure.!
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Project: Historic House Renovation
• Estimation • Measurement • Problem Solving • Geometry • Algebra • Statistics
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Analysis of a Purchase• looked at similar local property
values
• figured out average selling price per square foot
• brought in subcontractors to assess cost of improvements
• added 25% to estimates to be conservative
Purchase Price: $130K
2,000 sq ft $65/sq ft
Market Price: $150/sq ft
last 5 houses sold
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Figuring out Budgets and
cash flows once complete and
then evaluating financing
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Working through
Geometry and problem
solving
SHEET%ROCK%MATH%by%Lee%Kaltman,%MS%Ed%(Carpenter%skills%were%taught%by%Joel%Brain,%Master%Teacher)%
%%%
!
!!!!!! !!
The!Carpenter!has!a!right!angle!ruler!to!help!cut!straight!lines!in!sheet!rock.!The!carpenter!can!cut!the!sheet!rock!with!a!razor!sharp!blade.!
The!carpenter!needs!to!cut!a!piece!for!this!rectangular!space!but!needs!to!leave!the!opening!for!the!fan?!
What!are!the!different!ways!the!carpenter!could!figure!out!the!area!of!the!circle!so!he!can!fit!the!sheetrock!as!in!the!finished!picture?!
!
https://www.transfolios.com/users/2/submissions/252
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Structured Equity Trades
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Betting on a BOOM
Protection from a BUST
What is a Boom / Bust (Outliers) Trade?
*see real world trades (expires March 2015)
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Questions• What is a security?
• What is a share of stock?
• What does Boom mean?
• What does Bust mean?
• What is a commission?
• What does buy an option entail?
• What is time value of money?
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Working through some math
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What would this trade be called?
*see real world past trades (expired March 2013)
A different kind of trade for extra credit
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Real World case scenarios for strategy
Timeline:(Read(Sears(document((5(minutes)(Brainstorm(activity(in(group((15(minutes)(Presentation(((10(minutes)(
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Sears&The$department$store$has$struggled$in$recent$years$with$poor$performing$stores$and$an$outdated$brand$in$addition$to$competing$with$e7commerce$savvy$competitors.$$In$December$2014,$Sears$was$on$track$to$post$its$eight$annual$revenue$drop$and$it’s$fourth$annual$loss.$
Thanks Creativeniche for Lesson Idea
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Summary:&After$you$read$the$document$as$a$team$brainstorm$new$ways$to$transform$the$Sears$business$that$is$threatened$by$limited$resources,$advances$in$technologies$and$changes$in$consumption.$$Your$goal$is$to$Find$creative$value$and$identify$a$new$strategy$that$will$help$Sears$Flourish.$
As&Educators: Think$of$new$standards$that$group$was$able$to$think$through$the$process$of$this$business$strategy.$
Group work
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How could you bring real world business scenarios to engage
students to master standards and provide transfer?
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Playing games also creates Transference
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Project DominosThe game of dominos
offers an opportunity to teach the basics of number sense by
physical representation of quantities but to become a “master”
domino player one will compute higher level
game theory computations.
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How many different standards does the student master playing dominos?
How many different standards does the student master from thinking through
making the dominos?
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We all learn best from experience: https://vimeo.com/126983399
If you have follow up questions please feel free to contact me at [email protected]