Finance 322 -- Personal Finance
Spring, 2013
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Instructor: Dr Steve Williams Office: Mabee 215 Office Hours: M-W-F: 8:00 AM to 10:00 AM
(less chapel) T/TH: 8:00 AM to 11:30 AM
(less chapel) Class Hours: TUE/THU (11:30 AM-12:45 AM & 1:00 PM-2:15 PM) |
Office Phone: (501) 279-4095 Web Address for Course: http://www.harding.edu/slwilliams/ Classroom: Mabee 101 |
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IMPORTANT NOTICE [There are expanded guideline links throughout this syllabus] It is each student's responsibility to READ THIS SYLLABUS CAREFULLY AND THOROUGHLY! If you have any questions, ask your
instructor for clarification. |
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Required Textbooks: · Gitman, J.G., Joehnk, M.D. & Billingsley, R.S. (2011); PFIN2 (1011 Ed.); ISBN: 1-111-82199-2 (or 978-1-111-82199-9); Cengage (South-Western) Publishing.Here is the Amazon.com link for the textbook: http://www.amazon.com/s/ref=nb_sb_ss_i_5_4?url=search-alias%3Daps&field-keywords=pfin2+gitman&sprefix=PFIN%2Caps%2C286 · NOTE: This book cannot be resold at the end of the semester due to the computer access code. |
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Finance 322 - Personal Finance (3 Hours) Prerequisite: None Course Description: Managing personal finances; inflation and recession; tax problems; insurance; annuities; credit; budgeting; financial planning; home ownership; bank accounts; investments; and social insurance programs. ------------------------------------------------ [More Information About the Course] ------------------------------------------------
Course Outcomes: The
general objectives of the course are to:
Specific goals include (but
are not limited to):
NOTE: All topics in this course are designed to
help the student understand the importance of a good, sound financial
management system in life from a Christian perspective. |
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Information and Participation Sheets: [MORE] |
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Teaching Method: [MORE] |
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Classroom Expectations: [MORE] |
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Course Grading Outline Your final grade will be based upon your performance on the following:
· Total Points Possible = 875 Final grades will be assigned using the following scale: · A ... 788 - 875 points (90 - 100%)
POSTING OF
GRADES: Your
grades will be accessible from the Internet through Moodle. You should
be able to access the grade for each of the course assignments and
examinations as well as your current grade in the course. It is your
responsibility to check your grades to ensure correctness on my part.
If you find an error, bring it to my attention and we will get it fixed (or
explain why it cannot be changed). Remember: Once the grades have
been turned in to the registrar upon completion of the course, it is too late
to change the grades. The final day to make any changes to posted
grades is Friday before final exams begin. I will announce this several
weeks in advance to ensure you are reminded of this deadline. Once we
pass this deadline, I will not go back and revisit any grades in any area
other than the grade on the final exam. Final exams not submitted by
the beginning of the scheduled final exam session will not be counted in the
final grade tally. It is your responsibility to review your
posted grades on Moodle regularly and advise me of any problems noted.
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Details of Grading Requirements Examination Procedures: There are no examinations
in this course. Instead, you will take a weekly quiz for each chapter
of the textbook on Moodle. These quizzes will be summed and will take
the place of any in-classroom examinations.
Remember: You must assume that there are NO opportunities for make-up of these quizzes. If you miss a quiz opportunity, you will not be able to submit it later. All quizzes should be completed "on your own"--without the aid of friends, classmates, or anyone else--unless instructed otherwise. You're on your honor here. To receive credit for your GOOJF card at the end of the semester, you will be asked to certify that you have not cheated in the submission of your work. NOTE: You may use your textbook if you desire, but you are strictly timed and you cannot look up the answers to all the questions and complete it on time, so be careful. Personal Projects There are five personal projects due over the course of the semester (on average, about one every other week). These assignments are due on the date indicated on the course schedule (a part of the syllabus). These projects have been selected and designed to help you develop and improve your knowledge of various personal financial topics. They require an in-depth look (analysis), not just a cursory glance at the topic. Items submitted will be graded based on depth, critical thought evidenced in the written submission, and the value of the project to an outsider who may be reading it for the first time. All projects should be typed, be in the writer's own words (if you wish to include something from the internet, it should be attached, not comprise the bulk of the project) and be well presented. If your project is a comparison-type project, then you should end it with a decision as to what you would choose (or do) and that choice should be clearly explained. All projects should have a cover page with your name, class, and date. No project can be submitted except in class. I do not accept email submissions of any assignment. Notice: There are NO opportunities for make-up of projects. If you miss class when an assignment is due, you will not be able to submit it. Projects cannot be submitted either early or late (unless you are traveling for the University, with university approval, and upon prior arrangement with the instructor). You may chose your project #2, #3, and #4 from the following list with the proviso that one of your optional projects must be a review of your credit report. Projects #1 and #5 (#1 being a detailed and in-depth budget and statement of net worth and #5 being a living will) will be assigned for everyone by the instructor. You may also suggest your own project to me (but I must approve it before you do it): 1. Research and compare three consumer products. Give advantages and disadvantages of each. Get at least three different quotes on at least three different brands. (Examples: DVD players, computers, furniture, cell phones, clothing, whatever you are shopping for.) 2. Research and compare three different agents other than the one you use on automobile insurance. Get quotes for the exact same policy you carry. It is okay to use one from another office of the same company you currently use. If you carry full coverage, get full coverage quotes. If you carry only liability, get liability quotes. 3. Invest $50,000 at least three different ways (make-believe, of course). This investment must be made before the end of August. Track the investment weekly through at least 8 weeks. Provide a written analysis of your thought processes in making your investment decisions. 4. Compare savings rates on a $10,000 investment in a money market account, 3, 6, and 12 month CDS, regular passbook account, and a Treasury bill. Discuss the advantages and disadvantages of these kinds of investments and make sure to include your recommendations. 5. Prepare a personal balance sheet and a personal income statement for one month, effective the last day of that month. Make sure you include all the information one would need to evaluate your thoroughness. 6. Shop three different companies for homeowners insurance or apartment dwellers insurance. (If you currently have such insurance, get quotes from three other companies on the same policy you now carry.) Explain what you found out, what decisions you consider and finally make, and the rationale for your choices. 7. Explain the process of getting an error corrected on your credit report. This must be more than something you copied from the internet. Get a copy of your credit report to include with this project. (REMEMBER: If you get a free report from some web site like freecreditreport.com, make sure if you give them a credit card that you intend to join their organization. Most of these companies require you to join and pay a regular monthly fee and they will automatically charge your credit card each month if you don't cancel the service). 8. Compare the cost, advantages and disadvantages of three different internet servers...i.e. AOL, Flashnet, Airmail, etc. This comparison should include an analysis of different services, and a rationale as to which one you have (or would) chose. 9. Do an inventory of your credit cards and give the annual percentage rate on cash advances and purchases as well as the method each card uses to figure finance charges. Explain any weaknesses, deficiencies, strengths, or threats to your financial well-being that you discovered/considered as a part of this activity. 10. Shop for a new car at three different dealerships. (Same car, same options.) Your analysis should include your considerations, your worries or concerns and how you dealt with them, and your own preferences (and how you satisfied those preferences, or made a conscientious decision to ignore them--and why). 11. Compare the advantages and disadvantages of Term, Whole, and Universal Life insurance. Assume you are doing this research for a person totally unfamiliar with these concepts...explain them with this perspective in mind. NOTE: If you have another idea, talk to me about it. :-) Also...Make sure you actually include a personal discussion/analysis of your materials. If you just copy something from the internet and submit it, that's not much of a project, is it? I will not give you full credit if I can't see that you've done some analysis yourself.
Personal Budget Project (Your Final Examination) Analyze your personal income and
expenses (your last complete year). Draw up a comprehensive budget for
your next year (July 1, 2013 to June 30, 2014). You will be provided with appropriate
guidelines for preparing this budget during class. Your final examination will take place
during final exam week (see your course schedule for the time of the
examination) and you will be asked to write a two-page essay on the implications
of your coming budget. This
analysis should include a discussion about your perceived weaknesses,
strengths, opportunities, and threats in the forthcoming year--and should
also include a discussion about how you plan to deal with emergencies, unexpected
costs, etc. (The analysis will be completed during the final examination
period and will count for 25% of your final examination grade). As a
reminder, the final budget must include (a) a month-by-month breakdown of
anticipated expenses [they cannot be the same for every month]; (b) a
statement of net worth for the start of the budget year, and a second one for
the end of the budget year; and (c) must be future-oriented [meaning you
cannot budget for past months]. The 12-month budget will be
submitted at your final examination. You may submit the budget
assignment on the last day the class meets if you desire to do so but you
must attend the final examination period to complete the analysis described
above. Please note: Submission
of this final project is mandatory, and is required to pass the course. If you elect to not submit this final
examination, your grade will be recorded as FAIL for the course,
notwithstanding any grade you may have elsewhere. In other words, the final project is a life-preparing
event and is not optional. (Repeated in the Professionalism Area (next paragraph): Basic Requirements and assessment points for the two Budget Submissions: (a) Components of and Spendable Income missing = minus 10 points; (b) Total Expenses or Surplus/Shortage missing = minus 10 points (each); (c) Absence of Balance Sheet and or Statement of Net Worth = minus 25 points; (d) Balance Sheet not dated = minus 5 points; (e) Total Assets missing = minus 10 points; (f) Total Liabilities missing = minus 10 points; (g) Net Worth missing = minus 10 points; and (h) Monthly Actual and/or Difference columns completed on project 1 – minus 10 points. There is a general expectation that all assignments will be typed. If not = minus 10 points…and (i) No cover page = minus 10 points. Note: No budget is ever perfect. You cannot plan your budget around spendable income…thus surplus/shortage will never be a zero. Professionalism: All work submitted for a grade in this course must be typed, error free, neatly produced and presented, and be professional in appearance. I will reduce any written assignment by 25% if it does not meet these standards. Consider anything you submit to the instructor to be of the same caliber of work you would submit to your employer. Here are some additional items you should consider here. [MORE] -------------------------------------------------------- Attendance Policy Attendance will be taken at most class sessions. You receive 5 points for each class in which you participate -- thus a total count of 150 points for participation. Participation credit is determined by your initials on the sign-in sheet on the day of class. NOTE: Not all classes will be checked—so if you miss a day in which participation initials were not taken—then you will receive credit for participation on that day. Early in the course, I will give you three skip cards—you may use those as you wish at any time you wish. Please be aware that if you’re planning activities that will take you away from the classroom—things such as field trips for other classes, mission trips, etc., those three skips are what you should use to get your credit back. Otherwise, if you are not present in class, you will not receive the 5 points for that day. In other words, miss any class you wish--but be aware that any assignment due on a missed day will not be accepted later, and you will not receive any participation points for any day of class missed unless you submit a skip card. After you have four or more classroom absences without excuse or skip cards, you will be warned of your pending removal with a WF grade from the classroom. After the warning, one additional unexcused absence will result in your removal with a WF grade. IMPORTANT: If you have free skip cards remaining at the end of the semester, you may turn each one in for 5 bonus points. Bonus Point |
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Miscellaneous Stuff University and COBA Assessment: Harding University, since its charter in 1924, has been strongly committed to providing the best resources and environment for the teaching-learning process. The board, administration, faculty, and staff are wholeheartedly committed to full compliance with all criteria of the Higher Learning Commission of the North Central Association of Colleges and Schools. The university values continuous, rigorous assessment at every level for its potential to improve student learning and achievement and for its centrality in fulfilling the stated mission of Harding. Thus, a comprehensive assessment program has been developed that includes both the Academic units and the Administrative and Educational Support (AES) units. Specifically, all academic units will be assessed in reference to the following Expanded Statement of Institutional Purpose: The University provides programs that enable students to acquire essential knowledge, skills, and dispositions in their academic disciplines for successful careers, advanced studies, and servant leadership. Students with Disabilities: It is the policy for Harding University to accommodate students with disabilities, pursuant to federal and state law. Therefore, any student with a documented disability condition (e.g. physical, learning, or psychological) who needs to arrange reasonable accommodations, must contact the instructor and the Disabilities Office at the beginning of each semester. (If the diagnosis of the disability occurs during the academic year, the student must self-identify with the Disabilities Office as soon as possible in order to get academic accommodations in place for the remainder of the semester.) The Disabilities Office is located in Room 205 of the Student Center, telephone, (501) 279-4019. Academic Dishonesty: Honesty and integrity are
characteristics that should describe each one of us as servants of Jesus
Christ. As your instructor, I pledge
that I will strive for honesty and integrity in how I handle the content of
this course and in how I interact with each of you. I ask that you join me in pledging to do
the same. Academic dishonesty will
result in penalties up to and including dismissal from the class with a
failing grade and will be reported to the Assistant Vice President for
Academic Affairs. All instances of dishonesty will be handled according to
the procedures delineated in the Harding University catalog. Laptop Computers and Cell Phones are Prohibited: Because they are seriously distracting to the group (and to me), I do not allow the use of laptop computers or operational cell phones in the classroom. This would include any kind of text messaging device and any kind of audio player (IPOD, etc). Persons with a bonafide reason for using a laptop (with approval of the University) will be asked to sit on the back row of the classroom so that they will be less distracting for everyone else in the room. Honor Code: My personal honor code is "I will not lie, cheat, or steal--nor tolerate those among us who do such things." Copying the work of another student is cheating and will result in your dismissal from the course with a failing grade. Additionally, knowingly permitting your work to be copied may also result in your dismissal from the course. The online quizzes are your primary test mechanism in this course. I expect them to be your own personal work, without consultation with--or help from--any other student. Persons submitting a "get out of jail free" card at the end of the semester will be asked if they have lived up to this code during the semester as a condition for receiving these bonus points. Academic
Grievance Procedures: As
with any job you will take in the future, they will probably have procedures
for you to follow if you feel you have been overlooked, mistreated, or given
an unfair evaluation. Any company with several employees should have an
employee handbook stating how to handle these situations. Going
straight to the corporate president or venting your case before the fellow
employees resulting in division between employees and administration are quick
methods of losing your job whether you were right or not. This is an
important lesson to learn before you join the full-time work force.
Harding University also has academic grievance procedures if you feel you
have been overlooked, mistreated, or given an unfair evaluation. This
process begins with talking to your professor first about the issue at hand
and providing a written complaint within 7 days of the alleged
incident. Please refer to page 33 of the current HU catalog for further
steps regarding this grievance policy. We are committed to fairness in
regards to our students. We hope you will never need these procedures,
but they are available at your initiation and discretion. Time Management Expectations: For every class hour, the typical student should expect to spend at least two clock hours of problem solving, reading, reviewing, organizing notes, preparing for coming exams/quizzes and other activities that enhance learning. [Additional Miscellaneous Stuff] --------------------------------------------- ---------------------------------------------
· Participation in any discussions
using the Moodle Discussion Board are not required for this course. · Take online chapter quizzes. All quizzes for this course are
given online through Moodle. There is a 30-minute time limit for each
quiz and the questions are randomly chosen from a test bank for each
student. It shall be considered cheating to share these questions with
your classmates. You may use your book or notes, but may not consult
with anyone in determining your answer. · Check your Point totals in this course using Moodle Student Management. Once your assignments have been graded by the instructor, your point totals will be posted in the "My grades" area. Remember: All Assignments and due dates for the entire semester can be found on the course homepage schedule (just click on Class Schedule above or below). Follow the appropriate link to find out what each assignment consists of and when it is due. Assignments will not be accepted late, so make sure you are aware of each assignment and when it is due. If you have any questions or concerns please contact me. I will be available beginning the first official day of classes. My office phone number is 279-4095 and my E-mail address is: slwilliams@harding.edu. (NOTE: If you send me an email, please remember I have over 300 students and multiple classes. Tell me the class you're in so I can find your records more quickly). --------------------------------------------- Summary of Common Professional Component Topics Covered in this Course [This course covers the following business topics in these estimated amounts]
NOTE: CPC topics taught in courses are not mutually exclusive. The hours shown in this summary may add to more than 45 contact hours because certain topics may include more than one CPC. For example, a lecture on international marketing would include both "marketing" and "global dimension of business." Thanks to Dr Daniel Graybill for the "get out of jail free" idea. :-)
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back to Dr. Williams's
Personal Finance Syllabus.
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