FINA 1200


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FINA 1200

  1. 1. Metropolitan Community College COURSE OUTLINE FORM COURSE TITLE WEALTH BUILDING FUNDAMENTALS & PERSONAL FINANCE COURSE PREFIX AND NO. __FINA 1200 LEC __4.5__ LAB __0_ CREDIT HOURS _4.5_ COURSE DESCRIPTION: This course helps the student analyze and direct his/her family and/or self’s financial affairs. Emphasis is placed on the basic information needed to choose between financial alternatives and on comparison of consequences of decisions. Included are topics such as budgeting, consumer credit, insurance, taxes, record keeping, saving and investing. COURSE PREREQUISITES: None RATIONALE: The quality of our lives and the security of our futures are dependent on our management of our personal finances and resource throughout our lifetimes. This process is becoming increasingly complex, and each of us needs some basic information and guidance in order to successfully manage and control our personal affairs. REQUIRED TEXTBOOKS and/or MATERIALS: Title: PERSONAL FINANCE Edition: Current Author: Garman & Forgue Publisher: Houghton Mifflin Attached course outline written by: Lori Lothringer, Ph.D., AFC Date: 2/09 Reviewed/Revised by: Date: Effective quarter of course outline: 09/FA Dean Date: Daryl Hansen Course Objectives, Topical Unit Outlines, and Unit Objectives must be attached to this form.
  2. 2. COURSE OBJECTIVES/TOPICAL UNIT OUTLINE/UNIT OBJECTIVES TITLE: Personal Finance PREFIX/NO. FINA 1200 NOTE: You may want to consider including this disclaimer in your syllabi. It has been reviewed by the college lawyers. Your instructor in this class will be a teacher and facilitator. Your instructor will help you gain knowledge in you quest to become an informed and possibly skilled investor. However your instructor WILL NOT act as a financial or investment counselor or advisor. While numerous investment techniques and philosophies will be discussed and analyzed in the course, your instructor will not make specific investment suggestions or offer investment advice to students. Nothing your instructor may say or do should be interpreted as making an investment recommendation. Neither your instructor nor the College are or will be responsible for nay investment decisions you may make during or after the completion of your attendance in the course. You assume any and all risks regarding any investment decisions you may make. COURSE OBJECTIVES: Upon completion of this course, the student will be able to: 1. Design strategies for moving from their present financial situation to the Achievement of their goals. 2. Develop an effective financial plan which will include necessary daily decisions And transactions in areas including taxes, insurance, investments and retirement. 3. Deal with consumer economic issues to have a more productive, positive, and Community supportive life. TOPICAL UNIT OUTLINE/UNIT OBJECTIVES: Unit I Introduction to Personal Financial Activities A. Explain the financial forces on our society, including inflation and the role of money. B. Construct and utilize records and forms needed for effective planning. C. Construct and maintain a budgeting system. Unit II Personal and Financial Protection A. Explain the nature of risk management, and its application to property. B. Define and explain the fundamentals of life insurance, health insurance, liability and auto insurance, and property insurance. C. Determine the correct amount and type of insurance required for a given individual.
  3. 3. Unit III Taxes in our Economy A. Complete a federal income tax long form. B. Describe the nature of our tax system and its impact on individuals. C. Explain the history, uses, computation, and benefits of social security taxes. Unit IV Consumer Credit A. Explain how to shop for a loan. B. Define an explain “Truth in Lending.” C. Compute the effective cost of borrowing. D. Identify and describe three federal laws affecting consumer credit. Unit V Savings and Property Ownership A. List the steps in developing a savings plan. B. Identify the characteristics of major savings methods. C. List the advantages and disadvantages of real estate as an investment. D. Analyze and compare optional real estate processes such as renting, building, selling, and/or owning a home. Unit VI Planning and Investing for the Future. A. Explain the risk-reward rule. B. List and explain at least three different personal investment goals. C. List and describe at least five investment vehicles, such as common stock, mutual funds, etc. D. Describe the nature, features, and operations of a mutual fund. E. Compute and list your total retirement needs. COURSE REQUIREMENTS / EVALUATION: Upon completion of this course, the student will have the broad cognitive knowledge and the specific skills necessary for successfully coping with the daily financial decisions and opportunities of our modern consumer-oriented society. ADDITIONAL REFERENCES Wall Street Journal Lifetime Guide to Money (Metro Library) Standard and Poor’s: “Security Owners Guide” (Metro Library)
  4. 4. FINA 1200 OPTIONAL TECHNOLOGY APPLICATIONS Student/Learner: • Software that accompanies the textbook is especially effective organizing Career Goals, Budgets, Personal Financial Statements, Personal Resume, and Letter of Application. • Internet very useful for a wide variety of research assignments • Entire course is available via telecourse Instructor/Facilitator: • Overhead projector and/or ELMO • PowerPoint presentations • TV/VCR for a wide variety of videos • Internet presentations OUTCOME MEASURES for FINA 1200, PERSONAL FINANCE COURSE OBJECTIVES ASSESSMENT MEASURES 1. Design strategies for moving from their TYPE: Statement of midterm and/or long term present financial situation to the personal goals with supporting budget. achievement of their goals. NATURE: Subjective CONDITIONS: Homework or in-class NATURE OF ACTIVITY: Individual 2. Develop an effective financial plan which TYPE: Within context of previously stated will include necessary daily decisions and goals, prepare a plan to provide for insurance, transactions in areas including taxes, insurance, investments and retirement. investments, and retirement. NATURE: Objective/Subjective CONDITIONS: Homework and/or in-class project. COMMUNICATION MODE: Written NATURE OF ACTIVITY: Individual 3. Demonstrate sufficient understanding of TYPE: Test basic consumer economic issue which can lead NATURE: Objective/Subjective to a more productive, positive and community CONDITIONS: In-class/supervised oriented life style. COMMUNICATION FORM: Written NATURE OF ACTIVITY: Individual 4. Use spreadsheet software to a personal TYPE: Hands-on computer to develop a twelve month operating NATURE: Personal computer personal budget. CONDITIONS: Optional COMMUNICATION MODE: Print Out NATURE OF ACTIVITY: Individual