Short Form Unit Details
Unit Title Level Reference No. (showing level) Credit Value Student Study Hours Personal Finance 2 MFQ-2-205 15 CAT points Contact hours: 36 Student managed learning hours: 114 Total study hours: 150 No specific pre-requisite or co-requisite units. However, the unit requires some proficiency in elementary arithmetical and algebraic calculations. None None Vijay Lee BCIM Faculty Accounting & Finance Department This unit provides an introduction to the elements of personal financial planning, i.e. budgeting, saving and investment. Various aspects of short-term and long-term personal investment are examined from theoretical as well as practical perspectives, along with the important topical issues relating to the subject. The aim of the unit is to introduce students to the elements of personal finance, with emphasis on managing the short-term and long-term investment of money to achieve the goals and aspirations of the individual. The knowledge and skills developed would be useful not only to improve the management of one’s own finances, but also to pursue a career in the financial services sector, or as an independent financial advisor. The main areas covered will be: Importance of financial literacy Personal financial planning – cash flow, net worth and budgeting Mathematics of finance, time value of money Savings products Borrowing and management of debt Stock market investment Collective investment in mutual funds Property investment & mortgages Pensions Fundamentals of personal taxation; tax efficient saving Insurance Role of financial markets & institutions in personal finance Consumer protection & regulation of financial advice (i) A piece of coursework of approximately 2,500 words, to count for 50% of the marks for the unit. The coursework is normally required to be done in groups, and will normally include an element of peer assessment – the purpose of this is to make it possible for the individual efforts of group members to be reflected in individually differing marks. The way in which this distinction is calculated is described in the appendix to the sample coursework assignment which is enclosed herewith for information and guidance. Further differences in marks between group members will result from variations in the marks earned by individual students in the group presentations. (ii) A two-hour closed book examination to count for 50% of the marks for
Pre-requisite learning Co-requisites Excluded combinations Unit co-ordinator Faculty/Department Short Description
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the unit. The exam paper will consist of 5 questions, related to the unit’s learning outcomes as stated in 4.1 above, of which students will be asked to answer 3. Each question will carry 25 marks; the total marks for the 3 questions answered will be converted to a percentage mark by multiplying by 100/75. In addition to testing knowledge, questions will generally require the student to demonstrate analytical skills by performing appropriate financial calculations.