Mar 28, 2024  
College Catalog 2023-2024 
    
College Catalog 2023-2024 [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.

Billable Contact Hours: 3

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Transfer Possibilities
Michigan Transfer Network (MiTransfer) - Utilize this website to easily search how your credits transfer to colleges and universities.
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 (CDO)
  • Communication: The graduate can communicate effectively for the intended purpose and audience.
  • Critical Thinking: The graduate can make informed decisions after analyzing information or evidence related to the issue.
  • Global Literacy: The graduate can analyze human behavior or experiences through cultural, social, political, or economic perspectives.
  • Information Literacy: The graduate can responsibly use information gathered from a variety of formats in order to complete a task.
  • Quantitative Reasoning: The graduate can apply quantitative methods or evidence to solve problems or make judgments.
  • Scientific Literacy: The graduate can produce or interpret scientific information presented in a variety of formats.
CDO marked YES apply to this course:
Communication: YES
Critical Thinking: YES
Global Literacy: YES
Information Literacy: YES
Quantitative Reasoning: YES
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



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



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