I have undertaken the teaching a Business Calculus course for this semester (spring II).
The various assesments for the students, include quizzes/hw/midterms/final exams, adjusted with suitable weights, and a project which counts for 10% of the total grade.
The project we have been using for the last couple of semesters revolves around break-even analysis and includes:
- designing and pricing a product,
- organizing a poll
- utilizing Excel to interpolate the data from the poll in order to construct the demand function,
- constructing cost-revenue-profit functions,
- optimizing the revenue and the profit,
- comparisons between the various otpimizations,
- critical questions on the procedures, ... etc
This semester (spring II) we have decided to update the various assesments, starting by redesigning the project for the course.
So my question is the following:
Are there some good ideas for projects suitable for a 1st year business calculus course?
Some remarks to be taken into account:
- I am interested either in some references (papers/online etc) or in some explicit description of ideas.
- The redesigned project will have an upgraded weight (smt like 15%-20% of the total grade).
- One of the weaknesses i see (in the resources we have already been using) has to do with the fact that our current project actually stops at methods of differential calculus (1st/2nd derivative criteria for optimization, etc). Since our syllabus also includes integral calculus + multivariable calculus (partial derivatives+optimization of multivariable functions), i would like -ideally- some project which makes full use of the mathematical arsenal developed during the course.
- it would be interesting if we could include some module related to to the law of supply/demand and the market equilibrium (instead of break-even analysis) or maybe combine both.
- It would also be interesting and to a certain extend desirable -but not the main thing- if we could include the use of technology: for example utilizing a CAS like WolframAlpha would be really nice!
- The course will be delivered online. It is the first time we are doing this (actually during Spring I, half of the course was delivered online, due to the well-known circumstances). I am not sure if this affects my question (i leave it to the potential answerers to judge), but it is not the main point of the question.
- FWIW, the main textbook we are using right now is Applied Calculus, Hoffmann/Bradley/Sobecki/Price, 11th edition
So, i am open to interesting ideas and/or references.
Thank you in advance!