Carnegie Mellon

21-270 Introduction to Mathematical Finance

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Grading Policies

Exams

The course will have three mid-term exams and a final exam. The mid-term exams will be given on

Exam #1: Friday, February 14
Exam #2: Wednesday, March 18
Exam #3: Friday, April 10

If you miss a scheduled exam, a makeup will be given with a significant penalty. In case of documented illness or family emergency or documented University sponsored trips the penalty will not apply.

The final exam has not yet been scheduled. It may take place as late as May 12. If you must make travel plans before the exam schedule is released, you should not schedule your departure from campus before May 13. No student will be allowed to take the final exam early.

Calculators

In order to provide you with realistic problems, you will be permitted to use a calculator on the exams. However, in order to ensure a level playing field, and eliminate the advantages afforded by a powerful programmable calculator, you will be limited to one of two calculators: The Texas Instruments TI-30x IIS or TI-30Xa. These are scientific calculators that are similar to other TI calculators in operation. They are available in local stores or from online vendors for a modest price.

Homework

Homework will normally be assigned weekly, due in class on Wednesdays. Homework homework will be collected before or during class. Assignments turned in after that will be regarded as late.

Late homework assignments will be accepted until solutions to the problem set are provided. The first late homework will be given full credit. Thereafter, the late assignments will be penalized. The second will be given half credit, the third 1/3 credit, and so on. The tenth late homework and any subsequent late homeworks will be given no credit.

Grade Computation

The final grade for the course will be determined by your performance on the homework and quizzes, the three midterm exams, and the final exam. The weights for computing your final average will be:

Homework        15%
Midterms        60%
Final exam      25%

Letter Grades

For Homework assignments, the letter grade grade cutoffs will be assigned according to the following scheme:

A: > 85, B: 75-84, C: 65-74, D: 50-64, R: < 49.

Grade cutoffs for the Mid-term and Final exams will be determined after each exam. Grade cutoffs for final grades will be computed by averaging the grade cutoffs for each assignment, as described in the syllabus.

Other Policies

Classroom Courtesy

When attending class, please act in a manner that maintains a positive learning environment. Avoid behavior that may be distracting to your classmates or your instructor.

You should schedule your activities in a way that allows you to arrive before the start of class, and remain throughout the entire class period. If it should be necessary to arrive late or leave early, please do so with a minimum of commotion. In particular, you should make an effort to sit near the door and at the end of a row.

At times during the course, you may need to talk to your neighbor to check a fact or clarify a point. Lengthy discussions, however, are to be avoided. If you find yourself involved in more than a brief exchange, you should consider raising your hand and asking your instructor to clarify the point. Chances are that you are not the only one feeling confused.

Some students prefer to take notes on these devices, and that is fine. Having sat in the back of a few classrooms, though, that seems not to be the dominant use. If you would like to use these devices in my classroom, I ask that you sit in the back row to minimize the disruption.

Academic Integrity

This is a very important topic, and one about which I feel quite strongly.

For the purposes of this course adhering to Carnegie Mellon's Statement on Academic Integrity means primarily one thing: making sure that work you turn in for credit is yours and yours alone.

This does not mean you can't work with other students. Indeed I strongly encourage you to form study groups. Working together to find solutions to homework problems or while studying for exams benefits everyone involved. When someone explains something to you, you gain the benefits of their understanding. Explaining topics to another student forces you to clarify your own ideas.

It is clear that when an exam begins collaboration stops, and each student works alone to complete the problems. But what does it mean for a homework paper to be "your own work"? Once you have found a solution, you should write it up by yourself. You may need to refer to notes you have taken while collaborating, but you should not be referring to other peoples written work while producing your own.

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