Mar 28, 2024  
Official Course Syllabi 2020-2021 
    
Official Course Syllabi 2020-2021 [ARCHIVED CATALOG]

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BUSN 2010 - Personal Money Management

Credit Hours: 3.00


Prerequisites: None

(prior title: Personal Finance)

Principles and practices of personal financial planning. Current and future financial issues are explored. Topics such as financial services, stocks, bonds, mutual funds, budgeting, insurance, real estate, estate planning, and taxes are addressed.

Contact Hours: 3
Billable Contact Hours: 3
OUTCOMES AND OBJECTIVES
Outcome 1: Upon successful completion of BUSN-2010, the student will be able to explain the financial planning process and be able to plan and manage personal finances.

Objectives:

  1. Given an assignment(s), the learner will prepare personal financial statements, with a minimum proficiency of Level 3 on the discipline rubric.
  2. Given an assignment(s), the learner will identify and explain various tax strategies for different financial and personal situations, with a minimum proficiency of Level 3 on the discipline rubric.
  3. Given an assignment(s), the learner will explain the concept the of time value of money, with a minimum proficiency of Level 3 on the discipline rubric.

Outcome 2: Upon successful completion of BUSN-2010, the student will be able to explain the importance of money management in order to achieve short and long-term financial goals.

Objectives:

  1. Given an assignment(s), the learner will prepare a financial budget, with a minimum proficiency of Level 3 on the discipline rubric.
  2. Given an assignment(s), the learner will analyze the costs and benefits of financial services offered by different types of financial institutions, with a minimum proficiency of Level 3 on the discipline rubric.
  3. Given an assignment(s), the learner will analyze the major sources of consumer credit and calculate the cost of credit using interest formulas, with a minimum proficiency of Level 3 on the discipline rubric.
  4. Given an assignment(s), the learner will contrast the costs and benefits of renting or purchasing housing, with a minimum proficiency of Level 3 on the discipline rubric.

Outcome 3: Upon successful completion of BUSN-2010, the student will be able to explain income and asset protection strategies.

Objectives:

  1. Given an assignment(s), the learner will define risk management and evaluate methods of managing risk, with a minimum proficiency of Level 3 on the discipline rubric.
  2. Given an assignment(s), the learner will explain insurance coverage and the types of policies available for housing, automobiles, health and disability coverage, and life insurance, with a minimum proficiency of Level 3 on the discipline rubric.

Outcome 4: Upon successful completion of BUSN-2010, the student will be able to evaluate the various types of investment planning alternatives.

Objectives:

  1. Given an assignment(s), the learner will identify the major types of investment options that are available to investors such as stocks, bonds, mutual funds, and real estate, with a minimum proficiency of Level 3 on the discipline rubric.
  2. Given an assignment(s), the learner will explain the factors of safety, risk, income, growth, and liquidity options, with a minimum proficiency of Level 3 on the discipline rubric.

Outcome 5: Upon successful completion of BUSN-2010, the student will be able to evaluate retirement and estate planning alternatives.

Objectives:

Given a variety of assignment(s), the learner will:

  1. Given a variety of assignment(s), the learner will determine future retirement spending needs, and planned retirement income, with a minimum proficiency of Level 3 on the discipline rubric.
  2. Given a variety of assignment(s), the learner will assess estate planning through the use of trusts in order to reduce tax liabilities, with a minimum proficiency of Level 3 on the discipline rubric.

Outcome 6: Upon successful completion of BUSN-2010, the student will be able to work as a team member to develop a mutual fund portfolio that identifies short- and long- term investment options.

Objectives:

  1. Given a variety of assignment(s) the learner will define the various aspects of mutual funds according to risk, type, and total return.
  2. Given a variety of assignment(s) the learner will determine asset allocation and portfolio diversification strategies.
  3. Given a variety of assignment(s) the learner will assess Morningstar reports, fund performance, and the evaluation of the fund manager/team
  4. Given a variety of assignment(s) the learner will prepare a written report and present the results of their investment portfolios in a formal classroom presentation.

COMMON DEGREE OUTCOMES
(Bulleted outcomes apply to the course)

  • 1. The graduate can integrate the knowledge and technological skills necessary to be a successful learner.
  • 2. The graduate can demonstrate how to think competently.
  • 3. The graduate can demonstrate how to employ mathematical knowledge.
  • 4. The graduate can demonstrate how to communicate competently.
  • 5. The graduate is sensitive to issues relating to a diverse, global society.

COURSE CONTENT OUTLINE
  1. Basic Framework: Organizing and Managing Your Financial Resources
    1. Financial Planning
    2. The Time Value of Money
    3. Financial Statement and Budgets
    4. Taxes
  2. Liquidity Management: Managing Current Assets and Current Liabilities
    1. Cash Management
    2. Short-Term Credit Management
  3. Buying Now & Paying Later: Managing Long-term Liabilities
    1. Consumer Durables
    2. Housing
  4. Investing For The Future: Growing Your Financial Resources
    1. Financial Markets and Institutions
    2. Investments Basics: Understanding Risk and Return
    3. Stock and Bonds
    4. Mutual Funds
  5. Protecting Your Wealth: Insurance and Retirement Planning
    1. Property and Liability Insurance
    2. Health Care and Disability Insurance
    3. Life Insurance and Estate Planning
    4. Retirement Planning

Primary Faculty
Greek, Patrick
Secondary Faculty
James, Robert
Associate Dean
Johnson, Elise
Dean
Balsamo, Michael



Official Course Syllabus - Macomb Community College, 14500 E 12 Mile Road, Warren, MI 48088



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