Module overview
This module develops your understanding of important household financial decisions by introducing some relevant theoretical concepts, showing how actual calculations are made, and then discussing how these individual decisions are important for society. The individual decision is considered in the context of the macroeconomy, and vice versa; the state of the macroeconomy can then affect the individual decision. In addition to this practical knowledge, you are expected to take away a considered perspective on the social dimension of personal financial decisions.
Aims and Objectives
Learning Outcomes
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- Demonstrate an understanding of the main aspects of savings
- demonstrate an understanding of the important issues when conducting personal financial planning
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- understanding finance theory decision-making and valuing financial assets
- the importance of planning for retirement
- the major taxes that impact upon financial decisions
- different forms of mortgage and other types of loan
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- demonstrate competence generally in numerical analysis and problem solving
- demonstrate effective written communication
Syllabus
Balancing your personal budget
Appreciating the limitations of financial regulation
Managing your debt
Understanding income tax and national insurance
Building your savings
Understanding capital gains tax and inheritance tax
Investing for the future
Buying your own home
investing in buy-to-let property
Using insurance to manage your risks
Planning for your retirement
Making your will
Learning and Teaching
Teaching and learning methods
Weekly lectures will provide an overview of the main issues arising in the module.
Weekly classes will supplement the lectures which will support student learning by providing opportunities for students to attempt, and gain feedback on, numerical and problem-solving exercises. You will also have the opportunity for both directed and non-directed independent reading.
| Type | Hours |
|---|---|
| Follow-up work | 49 |
| Seminar | 10 |
| Completion of assessment task | 30 |
| Preparation for scheduled sessions | 10 |
| Revision | 27 |
| Lecture | 24 |
| Total study time | 150 |
Resources & Reading list
Textbooks
Callaghan, G., I. Fribbance, and M. Higginson (2011). Personal Finance. Palgrave Macmillan.
King J., Carey, M. (2014). Personal Finance. Oxford University Press.
Jack Kapoor; Les Dlabay; Robert Hughes; Melissa Hart (2023). Personal Finance. New York: McGrawHill.
Assessment
Formative
This is how we’ll give you feedback as you are learning. It is not a formal test or exam.
Final Exam In-class activitiesSummative
This is how we’ll formally assess what you have learned in this module.
| Method | Percentage contribution |
|---|---|
| Final Exam | 100% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
| Method | Percentage contribution |
|---|---|
| Final Exam | 100% |
Repeat
An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.
| Method | Percentage contribution |
|---|---|
| Final Exam | 100% |
Repeat Information
Repeat type: Internal & External