MGMT1011 — Fundamntls of Personal Finance
An introduction to financial concepts to help students become financially literate and make informed financial decisions. Covers the financial planning, budgeting, cash flow, and savings approaches that can be used in everyday life, as well as the advantages and disadvantages of credit and the importance of managing debt. The role of health care in financial planning is introduced. Includes a brief introduction to investment and retirement planning using financial instruments such as savings accounts, bonds, stocks, and mutual funds. Attention is given throughout to insights from behavioral economics, which suggests that while the perfectly rational individual may be a relevant benchmark, most people actually need practical methods that the imperfectly rational person can use to improve financial decision-making.