BUSI 1307

Personal Finance

BUSI 1307

Updated November 08, 2011

  • State Approval Code: 1904015109
  • Semester Credit Hours: 3
  • Lecture Hours per Week: 3
  • Contact Hours per Semester: 48

Catalog Description

Personal and family accounts, budgets and budgetary control, bank accounts, charge accounts, borrowing, investing, insurance, standards of living, renting or home ownership, and wills and trust plans.  Lecture hours = 3, Lab hours = 0

Course Curriculum

Basic Intellectual Compentencies in the Core Curriculum

  • Reading
  • Writing
  • Listening
  • Critical thinking
  • Computer literacy

Perspectives in the Core Curriculum

  • Stimulate a capacity to discuss and reflect upon individual, political, economic, and social aspects of life in order to understand ways in which to be a responsible member of society.
  • Develop personal values for ethical behavior.
  • Use logical reasoning in problem solving.
  • Integrate knowledge and understand the interrelationships of the scholarly disciplines.

Core Components and Related Exemplary Educational Objectives

Mathematics

  • To apply arithmetic, algebraic, geometric, higher-order thinking, and statistical methods to modeling and solving real-world situations.
  • To represent and evaluate basic mathematical information verbally, numerically, graphically, and symbolically.
  • To expand mathematical reasoning skills and formal logic to develop convincing mathematical arguments.
  • To interpret mathematical models such as formulas, graphs, tables and schematics, and draw inferences from them.

Social and Behavioral Sciences

  • To use and critique alternative explanatory systems or theories.
  • To differentiate and analyze historical evidence (documentary and statistical) and differing points of view.

Instructional Goals and Purposes

Panola College's instructional goals include 1) creating an academic atmosphere in which students may develop their intellects and skills and 2) providing courses so students may receive a certificate/an associate degree or transfer to a senior institution that offers baccalaureate degrees.

General Course Objectives

  1. 1.     To help students understand how financial decisions made today can affect their future financial stability.
  2. 2.     To provide students with the analytical tools they need to think intelligently about personal finance decisions.
  3. 3.     To help students develop sound reasoning skills in evaluating personal finance alternatives.
  4. 4.     To provide practical advice on a variety of personal finance issues.
  5. 5.     To teach students the language and vocabulary of personal finance.

Specific Course Objectives

  1. 1.     Be able to calculate simple interest, future value of a single amount, future value of an annuity, present value of a single amount, and present value of an annuity.
  2. 2.     Be able to demonstrate knowledge and ability to mange one’s personal finances.
  3. 3.     Be able to develop a system for maintaining personal financial documents.
  4. 4.     Be familiar with the services offered by different types of financial institutions.
  5. 5.     Be familiar with common stock, preferred stock, bonds and mutual funds as investments of one’s financial resources.
  6. 6.     Have a working knowledge of common forms of insurance used in planning a personal insurance program.
  7. 7.     Understand basis retirement and estate planning techniques for controlling one’s financial future.
  8. 8.     Be familiar with key considerations involved in the purchase of major assets such as a house and vehicle.

General Description of Each Lecture or Discussion

Personal Finance focuses on helping students make better financial decisions, which means knowing how to spend and save money more wisely and thus improve their standard of living.  The course uses a life cycle approach to financial planning, discussing how to plan for the purchase of a home, a child’s education, and a secure retirement.

Methods of Instruction/Course Format/Delivery

For the traditional classroom course, teaching approaches are expected to vary with individual instructors who should employ those techniques which work best for them and their students.  Although lecture and reading assignments are the primary delivery systems, other instructional techniques may include classroom discussion, audio-visual presentations, speakers, critical thinking exercises, and group activities.

Individualized instruction (using the Internet) in BUSI 1307 at Panola College is designed for students who are capable of the self-discipline necessary in a non-structured situation to complete a three-hour course in one semester.  Experience shows that only students of above-average motivation and self discipline normally complete such a course.  All course requirements in the online version of BUSI 1307 must be completed by the end of the semester in which the student is enrolled.  The course instructor will determine course requirements.

Assessment

Evaluation of students for grading purposes is done on the basis of attendance, exercises, and unit exams prepared by the instructor.  Your instructor determines the exact weights of each assessment category.

90 and above

A

80-89

B

70-79

C

60-69

D

Under 60

F

Text, Required Readings, Materials, and Supplies

  • Personal Financial Planning, by Lawrence J. Gitman, Michael D. Joehnk, and Randall S. Billingsley, Twelfth Edition, 2011, South-Western, Cengage Learning, ISBN 978-1-4390-4447-6

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