Math in the Real World
Lee Kaltman Cornell University
May 9th, 2015
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
What is an educator’s job?
To guide students to master standards and
certify the mastery
Transference
How do you apply what you are doing in class in
the real world?
When%I%look%at%this%I%see%Math.%What%Math%do%you%see?%
Authentic projects with student teams
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.
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.!
Project: Historic House Renovation
• Estimation • Measurement • Problem Solving • Geometry • Algebra • Statistics
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: $150/sq ft
last 5 houses sold
Figuring out Budgets and
cash flows once complete and
then evaluating financing
Working through
Geometry and problem
solving
SHEET%ROCK%MATH%by%Lee%Kaltman,%MS%Ed%(Carpenter%skills%were%taught%by%Joel%Brain,%Master%Teacher)%
%%%
!
!!!!!! !!
The!Carpenter!has!a!right!angle!ruler!to!help!cut!straight!lines!in!sheet!rock.!The!carpenter!can!cut!the!sheet!rock!with!a!razor!sharp!blade.!
The!carpenter!needs!to!cut!a!piece!for!this!rectangular!space!but!needs!to!leave!the!opening!for!the!fan?!
What!are!the!different!ways!the!carpenter!could!figure!out!the!area!of!the!circle!so!he!can!fit!the!sheetrock!as!in!the!finished!picture?!
!
https://www.transfolios.com/users/2/submissions/252
Structured Equity Trades
Betting on a BOOM
Protection from a BUST
What is a Boom / Bust (Outliers) Trade?
*see real world trades (expires March 2015)
Questions• What is a security?
• What is a share of stock?
• What does Boom mean?
• What does Bust mean?
• What is a commission?
• What does buy an option entail?
• What is time value of money?
Working through some math
What would this trade be called?
*see real world past trades (expired March 2013)
A different kind of trade for extra credit
Real World case scenarios for strategy
Timeline:(Read(Sears(document((5(minutes)(Brainstorm(activity(in(group((15(minutes)(Presentation(((10(minutes)(
Sears&The$department$store$has$struggled$in$recent$years$with$poor$performing$stores$and$an$outdated$brand$in$addition$to$competing$with$e7commerce$savvy$competitors.$$In$December$2014,$Sears$was$on$track$to$post$its$eight$annual$revenue$drop$and$it’s$fourth$annual$loss.$
Thanks Creativeniche for Lesson Idea
Summary:&After$you$read$the$document$as$a$team$brainstorm$new$ways$to$transform$the$Sears$business$that$is$threatened$by$limited$resources,$advances$in$technologies$and$changes$in$consumption.$$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
How could you bring real world business scenarios to engage
students to master standards and provide transfer?
Playing games also creates Transference
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.
How many different standards does the student master playing dominos?
How many different standards does the student master from thinking through
making the dominos?
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]
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