Course Syllabus

HFST 1210 Personal and Consumer Finance

Course Description

This course will introduce personal and consumer financial concepts and give students basic tools to make sound financial decisions in today's society based on economic trends and research. This is a practical course in personal money management consisting of financial planning including career choices, budgeting, planning for retirement, financing a home and automobile, and understanding &consumer credit,& taxes, insurance, and investments. Students will use basic math skills as well as read, write, and think critically. Note: This course is cross-listed BUS 1210 and meets general education requirements for Social and Behavioral Science.

Justification

A core aspect of social literacy is an understanding of sound personal financial management. This course teaches fundamental principles in managing money, making informed financial decisions, and understanding the personal and societal impact of financial decisions. Similar courses are taught at other Utah universities. This course will transfer as general education, elective, or major credit. It fulfills general education credit within the Social and Behavioral Sciences (SS) category. At Snow College, students who study Social and Behavioral Science will develop understanding of the world around them through study of content and the processes used by social and behavioral scientists to discover, describe, explain, and/or predict human behavior and social systems. Students must understand the diversities and complexities of the cultural and social world, past and present, from a social scientist's perspective, and methodologies, and come to an informed sense of self and others.

General Education Outcomes

1. A student who completes the GE curriculum has a fundamental knowledge of human cultures and the natural world. To gain knowledge in social and behavioral sciences, students will draw on the history of consumer behavior, government practices, and economic trends to analyze the impact personal and consumer finance has on contemporary problems and societal issues. Students will analyze financial issues through case studies, personal projects, writing assignments, and/or discussion forums and receive feedback from peers and the instructor.
2. A student who completes the GE curriculum can read and research effectively within disciplines. Students are required to read, retrieve, and interpret a variety of data from charts, graphs, online resources, and current print sources to complete homework and personal finance projects. Retrieving accurate data is required to successfully complete projects and mathematical problems. Instructor feedback is provided through discussion and class activities.
   Intelligent online technology diagnoses a student's knowledge/comprehension and creates an individualized learining assessment to provide the fastest path to mastery of chapter concepts. The technology provides immediate feedback, practice, and remediation outside of class.
3. A student who completes the GE curriculum can draw from multiple disciplines to address complex problems. Students will discuss, analyze, and solve problems in assignments and exams using methods from a variety of disciplines such as
   • Mathematics-solving of numerous financial problem situations
   • Economics-understanding of how individual finances fir into the overall economy through interest rates, inflation, and job creation
   • Business management-application of such things as income taxes and financial problem-solving
   • History-changes over time in income taxes and laws that regulate healthcare benefits and the financial sector of the economy
   • Political science-tax laws and other regulations over finance that show the promotion of social policy by lawmakers, how the laws may favor certain groups over others and how those groups change over time
   Students will receive feedback from peers and instructors.
4. A student who completes the GE curriculum can reason analytically, critically, and creatively. Students must understand and use a variety of basic computational skills. Problems are assigned to help students apply the material. Homework and quizzes are administered to assess student understanding of the computation. Many assignments are automatically scored online to provide immediate feedback and practice material. Students also receive feedback from the instructor.
5. A student who completes the GE curriculum can communicate effectively through writing and speaking. This course develops students’ ability to communicate effectively about financial topics in both writing and speaking. Students practice explaining complex financial concepts in clear, practical terms through assignments and class discussions. These activities strengthen their capacity to express ideas persuasively and professionally in personal, academic, and workplace settings.
6. A student who completes the GE curriculum can reason quantitatively.  Through assignments and cases, students will make choices about personal financial goals based on the current economic environment, the business cycle, historical trends, and future direction of the economy, inflation, and interest rates. They will evaluate civic policies and how personal values and ethics affect such things as savings, debt, and taxes. Students will receive feedback from peers and instructor.

General Education Knowledge Area Outcomes

1. This course examines how individuals make financial decisions within the context of institutions such as banks, credit unions, insurance companies, and government agencies. Students explore behavioral finance concepts to understand the social and psychological factors that influence money management. By analyzing consumer choices and institutional practices, they gain insight into how personal behavior and broader systems interact. Class discussions and assignments encourage students to critically evaluate these relationships and their impact on individuals, families, and society. This course examines how individuals make financial decisions within the context of institutions such as banks, credit unions, insurance companies, and government agencies. Students explore behavioral finance concepts to understand the social and psychological factors that influence money management. By analyzing consumer choices and institutional practices, they gain insight into how personal behavior and broader systems interact. Class discussions and assignments encourage students to critically evaluate these relationships and their impact on individuals, families, and society.
2. ANALYZE: Identify diverse perspectives to explore and examine social and behavioral phenomena. In this course, students analyze diverse perspectives on personal and consumer finance, including cultural, social, and generational approaches to money management. They examine how different values, backgrounds, and experiences shape financial behaviors such as spending, saving, borrowing, and investing. By comparing these perspectives, students gain a deeper understanding of the social and behavioral factors that influence financial decisions and outcomes.
3. APPLY: Apply discipline-relevant and scientific theories and methods to make inferences about or applications to social and behavioral phenomena at personal, institutional, or cultural levels.  Students apply financial theories and methods to real-world situations at the personal, institutional, and cultural levels. They use tools such as budgeting, credit analysis, and risk management to make informed decisions about money. Through case studies and problem-solving assignments, students practice applying concepts to both individual behavior and institutional practices, learning how financial principles operate across different social contexts.

Course Content

The following topics will be covered with applicable mathematical problems:
• Personal financial planning (career selection and financial security)
• Money management including short- and long-term financial goals
• Personal financial records including a budget, balance sheet, and cash flow statement (income, expenses, savings, emergency funds)
• Taxes (income, sales, property tax, etc.)
• Consumer credit and associated costs (loans, finance charges, credit card debt, credit scores)
• Consumer purchase strategies
• Selecting and financing vehicles and housing
• Insurance (automobile, home, health, and life)
• Investment principles including risk, rate of return, maturity, dollar amount needed, tax features, and liquidity
• Investments (stocks, bonds, and mutual funds)
• Retirement and estate planning