Module ASB-2415:
Personal Finance

Module Facts

Run by Bangor Business School

10 Credits or 5 ECTS Credits

Semester 2

Organiser: Prof John Ashton

Overall aims and purpose

The module will introduce the main elements of personal financial management. The module is aimed at all 2nd year undergraduate students both within the business school and the wider university which have an interest in improving the ways in which they can manage their finances and enhancing their financial capability. The module is suitable for all persons interested in both their own personal finances and also the provision of personal financial services in the UK and internationally. The module is focused on both developing key skills in managing personal finances as well as assisting an individual to navigate decision making at a time where individuals face increasing responsibility for their financial actions.

Course content

The lecture programme will outline the principal areas of content with specific skills honed within seminars. The lecture programme will be introduced through considering the importance of personal finance education, the need for financial literacy and how this relates to the student and graduate experience. Following this introduction areas of income, expenditure and taxation are considered. The module also provides consideration as to the form and use of different financial services encountered in life including debt, pensions, insurance, savings and investments, Lastly there is also discussion of how financial customers make decisions in financial services markets and can be prey and misled by current sales techniques employed by the financial services industry.

Assessment Criteria

threshold

• Knowledge of key areas/principles only; • Weaknesses in understanding of main areas; • Limited evidence of background study; • Answer only poorly focussed on question and with some irrelevant material and poor structure; • Arguments presented but lack coherence; • Several factual/computational errors; • No original interpretation; • Only major links between topics are described; • Limited problem solving; • Many weaknesses in presentation and accuracy;

good

• Understands most but not all; • Evidence of background study; • Focussed answer with good structure; • Arguments presented coherently; • Mostly free of factual/computational errors; • Some limited original interpretation; • Well known links between topics are described; • Problems addressed by existing methods/approaches; • Good presentation with accurate communication;

excellent

• Comprehensive knowledge; • Detailed understanding; • Extensive background study; • Highly focussed answer and well structured; • Logically presented and defended arguments; • No factual/computational errors; • Original interpretation; • New links between topics are developed; • New approach to a problem; • Excellent presentation with very accurate communication;

Learning outcomes

  1. To develop a critical comprehension of how commonly used financial services are used, priced and sold.

  2. To extend personal financial management skills and knowledge.

  3. To provide basic financial knowledge of services provided by financial services industry: insurance, loans, mortgages, pensions etc.

  4. To cultivate a greater level of financial literacy.

  5. To develop insight into the cost of borrowings and the implications of debt.

  6. To foster understanding of the sources and applications of funds while a student and a graduate.

Assessment Methods

Type Name Description Weight
Coursework 25
Exam S2 2hrs 75

Teaching and Learning Strategy

Hours
Lecture

11 two hour lectures, one of which is a revision session.

22
Seminar

5 seminars to consider practical elements of the module, from exploring current issues, undertaking interest rates calculations, an introduction to annuity mathematics, budgeting techniques and how lending decision are made. These will be run in alternative weeks starting in week 2.

5
Private study 73

Transferable skills

  • Literacy - Proficiency in reading and writing through a variety of media
  • Numeracy - Proficiency in using numbers at appropriate levels of accuracy
  • Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
  • Exploring - Able to investigate, research and consider alternatives
  • Information retrieval - Able to access different and multiple sources of information
  • Inter-personal - Able to question, actively listen, examine given answers and interact sensitevely with others
  • Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
  • Presentation - Able to clearly present information and explanations to an audience. Through the written or oral mode of communication accurately and concisely.
  • Argument - Able to put forward, debate and justify an opinion or a course of action, with an individual or in a wider group setting
  • Self-awareness & Reflectivity - Having an awareness of your own strengths, weaknesses, aims and objectives. Able to regularly review, evaluate and reflect upon the performance of yourself and others

Resources

Courses including this module

Compulsory in courses:

Optional in courses: