We need help trying to decide between consumer math or Algebra 1 for 8th grade...

[MI Mom]

My ds is working through pre-algebra and could do algebra 1 next year. My dh would like for him to take a consumer math/business math course at some point. We think that our ds will probably go into a field that will require math and science. Would it be a mistake for him to take a year off the main track to do consumer math/business math? Part of me thinks that maybe a child would have better logical thinking skills the older he is when he tackles algebra and upper maths but I have always had it in my mind that he would do algebra in the 8th grade. Do you have any advice for us?

 

Thanks

If consumer/business math then I will need advice on a good program.

[NancyL]

Keeping in mind that Algebra 1 is a "gateway" course and determines what you can do in science, I would think it would be very nice to get it done. (Actually a challenging Algebra 1 like Dolciani or Lial may take longer than 1 year) This determines when you can do chemistry, and then the Alg 2 with a small amount of trig gets you into the basic HS physics course. If you are late getting the math done then you will be behind in science. The consumer course is great also but can be piggy backed with any of them, or added to the semester of econ that is done as a senior. (we also had to double up on geometry and the alg. 2. (at the same time) You have to wait when you do correspondence anyway, and I think taking two at one time isn't unreasonable because they are different.

[Chris in VA]

If he's ready for Algebra, I'd say go for it, so he can do a year of Calculus in HS. If you just want him to learn "applied life-skill math," you could easily just teach it a little at a time over the high school years--how to keep a budget, balance a checkbook, figure percentages for tipping, understant compound interest, do taxes. These are very easy to incorporate into high school, and very practical training at that!

If that's what consumer math means to you, I'd just not count it as math at all.

[8filltheheart]

I agree with the other moms. Having accomplished a basic calculus class prior to high school graduation for a science oriented student is an advantage. Many engineering programs are highly competitive and a student w/o a strong math background may not be accepted. High school transcripts with cal the senior yr are pretty typical.

 

My oldest completed a partial consumer math course in addition to his high school math courses(I had him focus on the banking, credit cards, mortgage, car loans, income, budgeting selections) I didn't even give him credit for it. :) He did, however, use it toward his personal finance merit badge for BSA and earned his Eagle (so it did count for something in his eyes anyway.)

[MI Mom]

If ds is working toward a scout merit badge he will at least have it count in his eyes. Great point!

[Charon]

Here is one of the most fundamental formulas in the business world:

 

P[1-v^(n+1)]/(1-v) = P + Pv + Pv^2 + ... + Pv^n

 

This formula gives the present value of a stream of payments of P dollars n periods into the furture where P can be invested into a savings account earning a rate of interest of i per period payable at the end of the period and where v = 1/(1+i). This is a polynomial of degree n. And, if you just "foil it out", you will see that (1-v)(1+v+v^2+...+v^n) = 1-v^(n+1).

 

At any rate, the point just is that this sort of thing is just the sort of thing you will learn in the right algebra program. Even beyond algebra, 1+v+v^2+...+v^n is a finite geometry series. You use some theorems and the algebra to determine, for instance, that 1+v+v^2+... converges to 1/(1-v) for |v|<1 (or a rate of interest greater than 0). Indeed, the present value of a perpetuity of P payable at the end of the period is simply P/i where i is the interest rate because v+v^2+v^3+... = v(1+v+v^2+...) = v/(1-v) = [1/(1+i)]/[(1+i)/i] = 1/i.

 

In short, just to be a banker, it seems you need to be able to understand calculus. To actually manufacture and disribute a product, you very well may need to know how to optimize a linear programming problem which already uses linear algebra. The Black Scholes model for pricing options starts getting pretty complicated as a case of brownian motion with drift mu and volatility sigma and turning into a PDE.

 

In short, "business math" gets pretty complicated pretty fast. Pricing the the instruments used in garden variety investments is pretty complex. The mutual fund you put your 401(k) in, for instance, may well use options to achieve its investment goals. And to properly manage it to your retirement needs, you will certainly need to understand the present value of a stream of future payments.

 

So, personally, even just for "business math", I would keep him in algebra.