Personal Finance

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

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

the importance of planning for retirement
the major taxes that impact upon financial decisions
understanding finance theory decision-making and valuing financial assets
different forms of mortgage and other types of loan

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

Transferable and Generic Skills

Having successfully completed this module you will be able to:

demonstrate effective written communication
demonstrate competence generally in numerical analysis and problem solving

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.

Study time
Type	Hours
Follow-up work	49
Preparation for scheduled sessions	10
Lecture	24
Revision	27
Completion of assessment task	30
Seminar	10
Total study time	150

Resources & Reading list

Textbooks

Jack Kapoor; Les Dlabay; Robert Hughes; Melissa Hart (2023). Personal Finance. New York: McGrawHill.

King J., Carey, M. (2014). Personal Finance. Oxford University Press.

Callaghan, G., I. Fribbance, and M. Higginson (2011). Personal Finance. Palgrave Macmillan.

Assessment

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

In-class activities

Assessment Type: Formative
Feedback: Feedback from in-class activities will be provided in the classes and further feedback can be sought from the module leader during their office hours.
Final Assessment: No
Group Work: No

Summative

This is how we’ll formally assess what you have learned in this module.

Breakdown
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.

Breakdown
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.

Breakdown
Method	Percentage contribution
Final Exam	100%

Repeat Information

Repeat type: Internal & External