ECON 101 Personal Finance3 hours credit –An introduction to personal economics decision making with emphasis on the financial choices faced by individuals in the build-up and management of net worth. Topics covered include education and experience, earning and spending, savings and debt, taxes and inflation, insurance, investments, and contracts.
LEARNING OUTCOMES
Upon successful completion of the course, the student will:
- Understand the need for financial budgeting
- Be able to generate personal financial statements
- Be able to build a personal budget using an Excel spreadsheet.
- Understand the services and products offered by banks and credit unions
- Understand the benefits and costs of personal borrowing
- Be able to compare alternative financing options
- Understand the fundamentals of casualty, life and health insurance.
- Understand the attributes of common stock investments
- Understand the attributes of bond investments
- Understand the attributes of mutual funds
- Understand the need for retirement planning
- Be able to evaluate alternative retirement programs
- Understand the need for estate planning
- Understand the tax implications for investments, retirement plans and estate planning