Overview

This module takes a practical and theoretical approach to equip students with the knowledge to make better financial decisions and improve their personal financial outcomes. You’ll take away an understanding of the broad socio-economic environment influencing household finances; and specific products and services in the areas of debt, savings, and pensions. A central theme of the module addresses the importance of developing personal financial literacy skills to empower you in an increasingly financialised world. The module draws on a wide range of academic disciplines including behavioural economics and takes a critical view of banking and finance scandals arising from unethical sales practices employed by the financial services industry.

The lecture programme will outline the principle areas of content with specific skills honed within the seminars. The lecture programme will be introduced through considering the importance of personal finance education, the need for financial literacy, a knowledge of retail banking markets and how this relates to the student and graduate experience. The module provides consideration as to the form and use of different financial services encountered in life including debt, pensions, insurance, savings and investments. Students will explore how these markets operate and are regulated. Lastly there is consideration of how financial customers make decisions in financial services markets, how decision making may be enhanced and how customers can be misled by current sales techniques employed by the financial services industry. The syllabus is aligned with the CISI L3 Certificate in Securities and Investments. Its also provides foundational knowledge for the CFA Level 1 exam.

Assessment Strategy

-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.

-good -B- to B+ (60-69%): Very good performance. Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.

-excellent -A- to A+ (70%+): Outstanding performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.

-another level-C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

Learning Outcomes

• Cultivate a greater level of financial literacy.

• Develop a comprehension of how commonly used financial services are used, priced and sold.

• Develop insight into the cost of borrowing and the implications of debt.

• Extend personal financial management skills and knowledge.

• Foster understanding of the sources and applications of finance while a student and a graduate.

• Have an understanding of the services provided by the financial services and retail banking industry including insurance, loans, mortgages, pensions and investments.