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GENERAL COURSE SYLLABUS
ECON 110 Personal Finance
This document is to be used for preparation of class schedules/syllabi by all instructors teaching
this course. This should be reviewed and updated each year, usually at the end of the Spring
term to permit time for individual instructors to prepare class schedules before the first day of
class and to provide time for synthesis of integrative topics for faculty review and potential
adjustment early in the semester. (One general course syllabus for each course and multiple
course schedule/syllabus, depending on instructor implementation is anticipated.)
COURSE NUMBER:
ECON 110
COURSE TITLE:
Personal Finance
INSTRUCTOR:
Boyce, Dykes, Eason, King-Skinner, Marcis, and Verdery.
REQUIRED TEXT(S):
Personal Finance: Turning Money Into Wealth, by Arthur J.
Keown, Pearson Publishing Company.
PREREQUISITE:
Mathematics 102 (or satisfactory placement test score). The
course is not open to students who have earned credit for either
CBAD 363 or FIN 301.
CATALOG DESCRIPTION OF COURSE:
The course is an analysis of individual and family financial decisions. The course is designed to
prepare the student to exercise intelligent control over income, expenditures, borrowing, savings,
investments, and retirement planning.
COURSE OBJECTIVES:
UPON COMPLETION OF THIS COURSE, WE WANT OUR STUDENTS TO BE ABLE TO:
1. Develop personal planning goals and identify the strategies to achieve them.
2. Relate money management and savings activities to achieving financial goals.
3. Create various personal financial statements (such as budget, balance sheet, income and
expense statement, and a cash flow statement).
4. Distinguish between various types of consumer credit and analyze its advantages and
disadvantages.
5. Describe the information creditors look for when an individual applies for credit.
6. Identify strategies to improve your credit score and defend against identity theft.
7. Compare and contrast the costs and benefits associated with both renting and home
ownership.
8. Evaluate the factors that affect the cost of automobile insurance.
9. Evaluate the factors that affect the cost of health insurance.
10. Understand the major types of life insurance policies.
11. Assess how safety, risk, income, and liquidity affect an individual’s investment decisions.
12. Explain the concept of asset allocation and how it affects your investment plan.
13. Distinguish between stock and bond investments and the benefits and risks associated with
each.
14. Describe the characteristics of mutual fund investments.
15. Discuss the importance of retirement planning and distinguish between the major
retirement savings vehicles.
RELATIONSHIP TO OVERALL MISSION:
This is an elective course designed to satisfy a segment of required area of courses. The course is
designed to provide students with skills and knowledge necessary for a successful career.
GENERAL TOPICS COVERED:
Topic
Classroom Hours
1.
Financial Planning and Career Planning
 The financial planning process
 Factors influencing personal financial planning
 Opportunity cost and the time value of money
 Career choice factors
 Career opportunities: now and in the future
 Employment search strategies
 Financial and legal aspects of employment
6.0
2.
Financial Strategies
 Personal financial record-keeping and statements
 The personal budgeting process
 Money management and achieving financial goals
 Taxes and financial planning
 Income tax fundamentals
 Tax planning strategies
 Cash management strategy
 Financial institutions
 Evaluating savings options
 Evaluating payment options
7.5
3.
Making Your Purchasing Decisions
 Practical purchasing strategies
 Major consumer purchases
 Resolving consumer complaints
 Legal options for consumers
 Housing alternatives
 The home-buying process
 Finances of home buying
7.5
4.
Role and Misuse of Debt
 Advantages and disadvantages of debt
 Types of credit
 Measuring your credit capacity
 Applying for credit
 Avoiding and correcting credit mistakes
 Sources of consumer credit
 The cost of credit
 Managing your debts
 Consumer credit counseling services
6.0
5.
Insuring Your Assets
 Insurance and risk management
 Property and liability insurance
 Home and property insurance and cost factors
 Automobile insurance coverage and cost factors
 Health care costs
 Health insurance and financial planning
 Types of health insurance
 Private sources of health insurance and health care
 Determining your life insurance needs
 Types of life insurance companies and policies
 Important provisions in a life insurance contract
 Buying life insurance
3.0
6.
Principles of Investing
 Preparing for an investment program
 Factors affecting the choice of investments
 Asset allocation and investment alternatives
 Factors that reduce investment risk
 Sources of investment information
 Why corporations sell corporate stock
 Why investors purchase corporate stock
 Common and preferred stock
 Evaluating a stock issue
 Numerical measures that influence investment decisions
 Buying and selling stocks
 Long-term and short-term investment strategies
 Characteristics of corporate bonds
 Why corporations sell corporate bonds
 Why investors purchase corporate bonds
 Government bonds and debt securities
 Why investors purchase mutual funds
 Deciding to purchase mutual funds
 Mechanics of a mutual fund transaction
 Advantages and disadvantages of real estate investing
 Investing in precious metals, gems, and collectibles
6.0
7.
Planning for Retirement
 Retirement living expenses
 Planning your retirement housing
 Living on your retirement income
 Legal aspects of estate planning
 Types and formats of wills
 Types of trusts and estates
 Federal and state estate taxes
2.0
8.
Quizzes/Examinations
4.0
Total
42.0
TEACHING METHOD:
The class involves lecture, class discussion, out-of-class assignments using technology.