Hour 1
Exam Schedule (5)
In the first hour this week, let’s do 2 things.
Make the exam schedule
Sooner the better, right?
- Monday – June 17
- Thursday – April 20
Make Up Classes (5)
Make up classes will be workshop classes. I will be in my office. Come by if you have questions about the exam.
Monday-Tuesday Class
- Mon June 10 11 am-noon
- Tues June 11 9 am-11 am
Thursday-Friday Class
- Thurs June 13, 11 am to noon
Exam Grade (5)
The final exam is worth 25% of the final score. You need at least 65% to pass the course.
Here is the syllabus. The midterm exam will be 50 minutes. The exam has 3 parts.
All answers will be judged with the 6+1 writing traits. That means your writing should have excellent organisation and presentation with very few errors.
I estimate the time requirements as follows:
- Part 1: 15 minutes – an article with 3 product descriptions (8 points)
- Part 2: 15 minutes – analyze two housing options (10 points)
- Part 3: 10 minutes – write a short answer to a question which you will not see before the exam (7 points)
- Total: 40 minutes
Some people will be a little faster and some a little slower.
Question 1 – Describe
Write an article with 3 product descriptions. The article will be judged with the following criteria:
- 1-2 pages single spaced
- introduction with a theme
- 3 product descriptions that include features and benefits (no images)
- conclusion not necessary
- correct use of numbers, hedge words and adjectives
Question 2 – Analyse
You have to analyse a housing problem, make a choice, and explain your reasons.
You will write a professional style report (not essay). It should be 1-2 pages. There are many factors to consider. Money is important, but it’s not the only thing.
Your analysis will probably include 4 sections.
- A summary of the problem.
- Compare and contrast the advantages and disadvantages of buying an apartment versus renting an apartment.
- An analysis of the financial consequences of each option.
- Your recommendation with an argument and reasons.
Case Study Information
Here are the main assumptions and some numbers to help your analysis.
- Jack and Jill are in their late twenties. They are married with no children. They each have a full-time job.
- Their combined monthly net income is 4.3 million won.
- They have 80,000,000 won in cash and no debt.
They found two similar apartments in the same building. The apartment building is 11 years old. Each apartment has 3 bedrooms and 2 bathrooms. Both apartments are close to a subway station and have parking, but they are not close to shopping or schools.
Apartment A
- Apartment A is for sale. The price is 300,000,000 won.
- If they buy Apartment A, they will use 80 million won as a down payment and borrow the rest of the money from the bank. Each month they would pay 1,000,000 won in interest.
Apartment B
- If they rent Apartment B, they will use 80 million won as a deposit and sign a two-year contract.
- Plus, they will need to pay 700,000 won per month for rent. After 2 years they can leave and move to another apartment, or perhaps sign a new contract and stay in the same place (and probably pay more monthly rent).
Family Budget
Their monthly net income is 4.3 million won. Their monthly budget is 2.3 million won. That does not include savings, vacations, or unexpected expenses like annual holiday celebrations. These are minimum monthly expenses.
- Food – 700,000
- Utilities and maintenance – 300,000
- Transportation – 300,000
- Insurance – 400,000
- Entertainment – 200,000
- Clothes – 100,000
- Other – 300,000
Total 2,300,000 won
Question 3 – Surprise
You will answer a question on the exam paper. Your answer should be about 1 page long.
Good luck.