Personal Finance Subject Area/Course Number: BUS-160

Course Outline of Record Los Medanos College 2700 East Leland Road Pittsburg CA 94565 (925) 439-2181

Course Title: Personal Finance Subject Area/Course Number: BUS-160

New Course OR Existing Course

Instructor(s)/Author(s): Penny Wilkins

Subject Area/Course No.: BUS-160 Units: 3 Course Name/Title: Personal Finance Discipline(s): Business, Accounting, Banking & Finance

Pre-Requisite(s): None Co-Requisite(s): None Advisories: MATH-012 and eligibility for ENGL-100

Catalog Description: This is an introductory personal finance course designed to help students become financially literate, and to learn decision-making strategies integral in controlling one’s financial destiny. The course covers the following topics: steps in building a personal financial plan; goal setting; budgeting; evaluating financial institution services; consumer credit; life’s major purchases; insurance types, needs and products; investing basics, equity and debt vehicles; income tax strategies; and retirement and estate planning.

Schedule Description: $$$$ Wonder where your cash goes? $$$$ Feel intimidated by sales persons when purchasing a car? $$$$ How much are you really paying in interest? $$$$ Want to plan for your future? $$$$ Then enroll today in Personal Finance and become financially literate. This course addresses daily money decisions each of us makes. Learn about insurance benefit packages - health, disability, & life; investment vehicles - stocks, bonds, & mutual funds; consumer credit; home & car purchases; financing & interest choices; retirement needs; budgeting; and building a financial plan. This course is recommended for both business and non-business majors.

Hours/Mode of Instruction: Lecture 54 Lab 18 Composition Activity Total Hours 72 (Total for course)

Credit Credit Degree Applicable (DA) Grading Pass/No Pass (P/NP) Repeatability 0 Credit Non-Degree (NDA) Letter (LR) 1 (If Non-Credit desired, contact Dean.) Student Choice (SC) 2 3

Last date of Assessment: __Spring 2016______Cohort #: __2___

Last date of Assessment: ______Cohort #: _____

Please apply for:

LMC General Education Requirement(s):

Transfer to: CSU UC IGETC Area ____ CSU GE Area____ C-ID Number ______

Course is Baccalaureate Level: Yes No

Page 1 of 6 Course Outline of Record Los Medanos College 2700 East Leland Road Pittsburg CA 94565 (925) 439-2181

Course Title: Personal Finance Subject Area/Course Number: BUS-160

Signatures:

Department Chair Date

Librarian Date

Dean (Technical Review) Date

Curriculum Committee Chair Date

President/Designee Date

CCCCD Approval Date (Board or Chancellor's Office) Date

STAND ALONE COURSE: YES NO

Course approved by Curriculum Committee as Baccalaureate Level: YES NO

LMC GE Requirement Approved by the Curriculum Committee: ______

For Curriculum Committee Use only:

STAND ALONE COURSE: YES NO FOR OFFICE OF INSTRUCTION ONLY. DO NOT WRITE IN THE SECTION BELOW. Begin in Semester ______Catalog year 20____/20_____ Class Max: ______Dept. Code/Name:______T.O.P.s Code: ______Crossover course 1/ 2: ______ESL Class: ____Yes / No______DSPS Class: _Yes / No_____ Coop Work Exp: ___Yes / No_____

Class Code A Liberal Arts & Sciences SAM Code A Apprenticeship Remediation Level B Basic Skills B Developmental Preparatory B Advanced Occupational NBS Not Basic Skills C Adult/Secondary Basic Education C Clearly Occupational D Personal Development/Survival D Possibly Occupational E For Substantially Handicapped E* Non-Occupational F Parenting/Family Support G Community/Civic Development *Additional criteria needed H General and Cultural 1 One level below transfer I Career/Technical Education 2 Two levels below transfer J Workforce Preparation Enhanced 3 Three levels below transfer K Other non-credit enhanced Not eligible for enhanced

Page 2 of 6 Course Outline of Record Los Medanos College 2700 East Leland Road Pittsburg CA 94565 (925) 439-2181

Course Title: Personal Finance Subject Area/Course Number: BUS-160

Institutional Student Learning Outcomes: General Education SLOs: At the completion of the LMC general education program, a student will: 1. read critically and communicate effectively as a writer and speaker. 2. understand connections among disciplines and apply interdisciplinary approaches to problem solving. 3. think critically and creatively 4. consider the ethical implications inherent in knowledge, decision-making and action. 5. possess a worldview informed by diverse social, multicultural and global perspectives.

X None

Business Program-Level Student Learning Outcomes (PSLOs)

1. Be academically prepared to obtain an entry-level position in business. 2. Use critical thinking to research, analyze and synthesize information to solve common business problems. 3. Demonstrate the strong verbal and writing skills necessary to effectively collaborate and communicate from a global perspective with diverse groups of people. 4. Apply business communication skills (written and oral) by appropriately using terminology and the business language. 5. Demonstrate knowledge of the technological skills required to succeed in the modern business office and/or business environments.

Student Learning Outcomes (CSLOs):

Upon completion of the course, students will be able to:

1. Define and use personal finance terminology and concepts. PSLO 2, PSLO 3, PSLO, 4 2. Use personal finance concepts and tools to assess and analyze one’s financial position. PSLO 2, PSLO 3 3. Develop financial goals, strategies, and a personal financial plan. PSLO 2, PSLO 3.

Assessments Instruments:

Exams: The course includes four exams. The exams contain a variety of question types and serve to assess student understanding of course content.

Class Activities/ Discussions: Students will participate in class activities and discussions to explore different financial planning terms and concepts, as well as apply the concepts to their personal financial lives.

Personal Financial Plan: Students will complete a series of personal financial plan worksheets pertaining to each course content area. Students will compile the personal worksheet information into narrative financial plan summaries throughout the class. Students will also complete a final personal financial plan summarizing overall learning during the class, financial goals, and strategies.

Lab Work & Homework: While not used for formal CSLO or PSLO assessment, lab work and homework are completed through an assigned website that allows students multiple attempts for content mastery. The lab work is aimed at providing students opportunities to explore and apply concepts, measure understanding, and adjust their approach to further content mastery.

Page 3 of 6 Course Outline of Record Los Medanos College 2700 East Leland Road Pittsburg CA 94565 (925) 439-2181

Course Title: Personal Finance Subject Area/Course Number: BUS-160

The CSLOs will be assessed through the following methods: Class Personal Exams Activities/Discussions Financial Plan

CSLO 1 X X X CSLO 2 X X CSLO 3 X

CSLO 1- Define and use personal finance terminology and concepts. PSLO 2, PSLO 3, PSLO, 4 Students will demonstrate their knowledge of personal finance terminology and concepts through a variety of class activities and exams.

Example assessment items for CSLO1:

Class Activity/Discussion: Class activities provide students exposure to terms and the opportunity to apply concepts through exploration and discussion. Example activity/discussion question: Describe the term emergency fund, how to establish an appropriate fund amount, and why one needs to establish such a fund.

Exams: Exams provide students the opportunity to understanding of terms and concepts. Example exam question: What is another name for a statement of financial position?

CSLO 2 - Use personal finance concepts and tools to assess and analyze one’s financial position. PSLO 2, PSLO 3 Students will apply personal finance concepts to their current financial situation through the personal financial plan and during class activities.

Example assessment items for CSLO2:

Class Activity/Discussion: Class activities provide students exposure to terms and the opportunity to apply concepts through exploration and discussion. Example activity/discussion question: Discuss educational financing options available for people pursing higher education and apply the best approach to your personal financial position.

Personal Financial Plan: Students will complete a series of personal financial plan worksheets pertaining to each textbook chapter/content area. Students will compile the personal worksheet information into financial plan summaries throughout the class, and will complete a final personal financial plan summarizing overall learning and their personal financial direction. Example personal financial plan assignment: Evaluate retirement savings approaches, select one and use your selection to create your personal financial retirement plan including projected retirement age, estimated monthly retirement income, and current monthly retirement contribution amount required.

Page 4 of 6 Course Outline of Record Los Medanos College 2700 East Leland Road Pittsburg CA 94565 (925) 439-2181

Course Title: Personal Finance Subject Area/Course Number: BUS-160

CSLO 3- Develop financial goals, strategies, and a personal financial plan. PSLO 2, PSLO 3. Students will create a personal financial plan that consists of analysis of current financial standing, future goals, and specific strategies. The plan will cover concepts related to consumer credit and spending, savings, retirement, estate planning, and various other financial areas.

Example assessment items for CSLO3:

Personal Financial Plan: Students will complete a series of personal financial plan worksheets pertaining to each textbook chapter/content area. Students will compile the personal worksheet information into financial plan summaries throughout the class, and will complete a final personal financial plan summarizing overall learning and their personal financial direction. Example personal financial plan assignment: Determine and describe three financial goals that you will accomplish in the next three years. You can select one goal per year or three goals to accomplish each year. Describe why the goal is important, the financial category and applicable type (savings plan and type, educational financing, emergency fund, retirement, etc.) and the strategies you will use to accomplish each goal.

Method of Evaluation/Grading:

A- level student work: Accurately answering 90%, of the questions/problems on the exams. Critically thinking and applying personal finance concepts to one’s personal financial situation. Preparing a well throughout, logical, and applicable personal financial plan correctly applying personal finance concepts to the assigned financial areas. Active participation in class activities showing application of course concepts, adding value to the class, and adhering to timelines.

C- level work: Accurately answering 70%, of the questions/problems on the exams. Applying personal finance concepts to one’s personal financial situation in a general sense, but work lacks critical thinking. Completing a personal financial plan using personal finance concepts at a 70% accuracy rate Participating in most class activities and adhering to most timelines.

Method of Evaluation/Grading:

Description % of Grade Class Activities/Discussion 15% Lab Work & Homework 15% Personal Financial Plan 20% Exams 50% 100%

Course Content:

1) Personal Financial Planning a) Money Attitude b) Financial position assessment c) Budgets d) Goal setting and strategies 2) Money Management Skills

Page 5 of 6 Course Outline of Record Los Medanos College 2700 East Leland Road Pittsburg CA 94565 (925) 439-2181

Course Title: Personal Finance Subject Area/Course Number: BUS-160

a) Present and Future Values as These Relate to the Time Management of Money b) Interest c) Inflation and its Impact on Financial Choices 3) Taxes in Your Financial Plan a) Types of Taxes: Property, Earnings, Wealth, etc. 4) Savings and Payment Services a) Banking Services and Products including Fees, Yield, Penalties, Limitations, etc. 5) Consumer Credit a) Advantages and Disadvantages of Credit b) Credit Reports c) Sources & Costs of Credit including history d) Debt accumulation and debt free living 6) Buying of Motor Vehicles and Other Purchases a) New versus Used purchasing b) Financing and Credit Implications c) Payments 7) Selecting and Financing Housing a) Renting Versus Buying b) Payments c) Financing and Credit Implications 8) Insurance a) Insurance Products b) Risks, Needs, and Costs 9) Taxes a) Filing requirements b) Basic tax forms 10) Investing Basics a) Securities Terminology b) Investment Vehicle and the Opportunities c) Risks 11) Personal Finance Agencies and Organizations a) Resources

Instructional Methods:

Lecture Lab Activity Problem-based Learning/Case Studies Collaborative Learning/Peer Review Demonstration/Modeling Role-Playing Discussion Computer Assisted Instruction Other (explain) ______

Textbooks:

Kapoor, J., Dlabay, L., Hughes, R., & Hart, M. (2015). Focus on personal finance: An active approach to help you develop successful financial skills. 5th ed. New York: McGraw Hill Publishing, Inc.

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