CORE046 Financial wellness

Faculty of Economics and Administration
Autumn 2024
Extent and Intensity
2/0/0. 3 credit(s). Type of Completion: k (colloquium).
In-person direct teaching
Teacher(s)
Oleg Deev, Ph.D. (lecturer)
Guaranteed by
Oleg Deev, Ph.D.
Department of Finance – Faculty of Economics and Administration
Contact Person: Ing. Marie Hladká, Ph.D.
Supplier department: Department of Finance – Faculty of Economics and Administration
Timetable
Thu 10:00–11:50 P102, except Thu 19. 9., except Thu 7. 11.
Prerequisites (in Czech)
!FAKULTA(ESF) && !TYP_STUDIA(ND) && (!FORMA(C) || !FORMA(K) || !FORMA(D) || !FORMA(R) || !FORMA(Z))
Course Enrolment Limitations
The course is offered to students of any study field.
The capacity limit for the course is 60 student(s).
Current registration and enrolment status: enrolled: 47/60, only registered: 1/60, only registered with preference (fields directly associated with the programme): 0/60
Course objectives
The main objective of the course is to acquaint students with the broader context of finance. The course is aimed to help students build confidence in their ability to make informed financial decisions and perform financial calculations with accuracy. The course covers not only basic financial concepts, such as time value of money, debt and risk management, investment instruments and opportunities, financial technologies, but also addresses the implications of different personal biases on financial decision making.
Class time is dedicated to lectures with discussions and active participations of students through quizzes and group tasks. At the end of the course students should be able to confront any financial advice from influencers and popular authors with prevailing academic evidence and reasoning.
Learning outcomes
Students will get an understanding of basic concepts in finance necessary in personal financial decision making. Students will be able to:
- relate important financial concepts and issues to experiences in daily life;
- understand and overcome biases in personal financial decision-making;
- perform time value of money calculations in personal financial decision-making;
- explain how insurance work to reduce personal property and liability risks;
- comprehend basic rules and opportunities of investing and how to get started as an investor.
Syllabus
  • What is financial wellness and how to get it. Time value of money calculations in personal financial decision-making. Money and financial services. Compound interest.
  • Personal budgeting and savings management. Financial planning for different ages. Disposable income. Budgeting methods. Personal financial statements and net worth. Personal finance ratios.
  • Personal debt management. Different types of credit and their uses. Reasons for and against using credit. Credit score and factors influencing it.
  • Managing personal financial risks. Risks (earnings, premature death, longevity, property, liability ann health) in relation to human and financial capital. Property, liability and life insurance.
  • Financial markets and assets. Financial market organization and structure. Types of asset classes. Handling risk, return and liquidity of financial assets.
  • Stocks and bonds. Company valuation basics. Yield to maturity.
  • Fund investments Exchange Traded Funds. Mutual funds.
  • Financial technologies. Crowdfunding. Peer-to-peer loans. Cryptocurrency as an asset class. Robo-advisory.
  • Evaluating and accepting investment opportunities Active and passive investing. Portfolio management. Types of investment fees. Portfolio rebalancing. Strategies for asset allocation and risk reduction when given an investor profile of key inputs.
  • Psychology of financial decision making.
  • Personal tax management. Types of taxes (income, property, payroll, capital gain, sales, excise, tariffs). Calculating income taxes. Taxes in a global context. Tax filing.
  • Consumer protection in financial services Deposit insurance.
Literature
    recommended literature
  • HOUSEL, Morgan. The psychology of money : timeless lessons on wealth, greed, and happiness. First edition. Petersfield: Harriman House, 2020, x, 242. ISBN 9780857197689. info
  • DAHLQUIST, Julie R and Rainford KNIGHT. Principles of Finance. OpenStax, Rice University, 2022. info
  • HOUSEL, Morgan. Psychologie peněz : nadčasové lekce o bohatství, hamižnosti a štěstí. Vydání první. Bratislava: Aurora, 2022, 239 stran. ISBN 9788082500199. info
Teaching methods
The course is taught in lectures only, which include class discussions and require active participation. After-class assignments improve the ability of students to understand discussed issues. Readings serve to broaden and deepen the spectrum of knowledge students acquire during the lectures.
The exact requirements for completing the course also apply to students studying abroad (e.g. Erasmus) with an individual study plan, except for the compulsory attendance (alternative assignment is provided instead). More information on the alternative assignment is given in the interactive syllabus of the course. Students are required to contact the guarantor in the first teaching week of the semester and arrange the deadlines for fulfilling the assignment.
Note: “Any copying, recording or leaking tests, use of unauthorized tools, aids and communication devices, or other disruptions of objectivity of exams (credit tests) will be considered non-compliance with the conditions for course completion as well as a severe violation of the study rules. Consequently, the teacher will finish the exam (credit test) by awarding a grade "F" in the Information System, and the Dean will initiate disciplinary proceedings that may result in study termination."
Assessment methods
The colloquium is granted, if a student submits at least 70% of weekly assignments provided in the Interactive Syllabus. This colloquium format of assignments is designed to deepen students' understanding of financial wellness concepts while helping them develop practical skills and strategies they can apply in their personal lives. It also provides a platform for sharing insights and learning from peers, fostering a community of financial wellbeing.
Language of instruction
English
Further Comments
Study Materials
The course is taught annually.
The course is also listed under the following terms Autumn 2023.
  • Enrolment Statistics (recent)
  • Permalink: https://is.muni.cz/course/econ/autumn2024/CORE046