ECON-101 Financial Literacy

Credits 1 / 1 Contact Hours
Pre-requisite: Placement into RDNG-016 (ACSR-016)
This course provides an overview of the basic principles of personal finance with a focus on the use of financial data to make personal financial decisions and achieve personal financial goals.

Course Outcomes
1. Identify social and economic influences on personal financial goals and decisions 2. Develop personal financial goals 3. Implement a plan for making personal financial and career decisions 4. Calculate time value of money situations associated with personal financial decisions 5. Identify the main components of wise money management 6. Create a personal balance sheet and cash flow statement 7. Develop and implement a personal budget 8. Connect money management activities with saving for personal financial goals 9. Identify commonly used financial services 10. Compare the types of financial institutions 11. Assess various types of savings plans 12. Evaluate different types of payment methods 13. Analyze advantages and disadvantages of using consumer credit 14. Assess the types and sources of consumer credit 15. Determine whether you can afford a loan and how to apply for credit 16.Determine the cost of credit by calculating interest using various interest formulas 17. Develop a plan to protect your credit and manage your debts 18. Identify strategies for effective consumer buying 19.Implement a process for making consumer purchases 20. Describe steps to take to resolve consumer problems 21. Evaluate legal alternatives available to consumers 22. Define life insurance and determine your life insurance needs 23. Distinguish between the types of life insurance companies and analyze various life insurance policies these companies issue 24. Select important provisions in life insurance contracts and create a plan to buy life insurance 25. Recognize how annuities provide financial security.