Personal Finance I

Curriculum guideline

Effective Date:
Return to Course
Print Guideline
Course
FINC 2300
Discontinued
No
Course code
FINC 2300
Descriptive
Personal Finance I
Department
Finance
Faculty
Commerce & Business Administration
Credits
3.00
Start date
End term
202220
PLAR
No
Semester length
15 Weeks
Max class size
35
Contact hours

Lecture: 2 hours/week

Seminar: 2 hours/week

OR

Hybrid: Alternating weeks of above and online

Method(s) of instruction
Lecture
Seminar
Hybrid
Learning activities

Lectures, in-class and online assignments, completion of own personal financial plan.

Course description
This course applies the six step financial planning process to basic financial planning scenarios. Topics include setting goals, creating personal financial statements, debt management and calculation of mortgage financing options. Savings and investment products are covered as well as the essentials of RRSPs, TFSAs, government benefit programs, and personal insurance. Taxation as it relates to long term personal financial planning is covered at an introductory level. In addition, an overview of the products and services available to individuals and businesses through financial institutions will be covered.
Course content
  1. Introduction to financial planning.
  2. Introduction to personal income tax.
  3. Calculating saving and investing requirements to reach goals.
  4. Mortgages and financing and other of financial services.
  5. Insurance products and planning.
  6. Government programs including OAS, CPP, GIS, RRSP, RESPs, RDSP, and TFSAs.
  7. Retirement planning.
  8. Wills and estate planning basics.
  9. Legal and ethical conduct in the financial services industry.
Learning outcomes

Upon completion of the course, a successful student will be able to:

  1. develop effective financial planning goals;
  2. prepare personal financial statements (including a personal budget, cash flow statement, and statement of net worth);
  3. incorporate basic knowledge of personal income tax in financial planning decisions;
  4. consider and calculate various types of personal insurance needs and coverage options;
  5. describe and recommend relevant products and services available from financial institutions;
  6. describe and recommend general investment options (saving accounts, stocks, bonds, mutual funds, etc.) and types of accounts and their features for wealth management;
  7. conduct a financial analysis of mortgage qualification and renting versus buying a house;
  8. calculate and recommend strategies to achieve retirement and estate planning goals; and
  9. demonstrate in a responsible and accountable manner the legal, ethical and social parameters of the financial industry.
Means of assessment

Assessment will be based on course objectives and will be carried out in accordance with the Douglas College Evaluation Policy.

Assignment(s) or case(s)

10% - 20%

Term Tests or quizzes

30% - 50%

Individual Financial Plan

10% - 15%

Final Exam

30% - 40%

 

100%

No single assessment will be worth more than 40%.

Students must achieve a minimum grade of 50% on the combined invigilated components to pass the course.

Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.

 

Textbook materials

Textbooks and Materials to be Purchased by Students

Madura, Jeff and Gill, Hardeep S. Personal Finance. Latest Canadian Edition, Pearson, or alternate textbook approved by department.

Calculator: Texas Instruments BA II Plus or as approved by department

Prerequisites

One of FINC 1231, FINC 1230, MATH 1120, MATH 1125, ACCT 1235, or ACCT 1210, or currently active in PDD Financial Planning or PDD Financial Analysis or PDD Accounting or PBD Accounting or PBD Accounting and Finance

Equivalencies

Courses listed here are equivalent to this course and cannot be taken for further credit:

  • No equivalency courses
Which prerequisite

FINC 3300