BPF_FIGR Financial Literacy

Faculty of Economics and Administration
Spring 2022
Extent and Intensity
0/2/0. 4 credit(s). Type of Completion: z (credit).
Teacher(s)
Ing. Barbora Buchtová, Ph.D. (lecturer)
doc. Ing. Martin Svoboda, Ph.D. (lecturer)
Guaranteed by
doc. Ing. Martin Svoboda, Ph.D.
Department of Finance – Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Supplier department: Department of Finance – Faculty of Economics and Administration
Timetable of Seminar Groups
BPF_FIGR/01: Thu 12:00–13:50 P102, except Thu 31. 3., B. Buchtová, M. Svoboda
Prerequisites
The prerequisite for the course is passing the entrance test that will verify the student's knowledge before the courses start.
The course is open to all students of Masaryk University.
Course Enrolment Limitations
The course is offered to students of any study field.
The capacity limit for the course is 120 student(s).
Current registration and enrolment status: enrolled: 10/120, only registered: 0/120, only registered with preference (fields directly associated with the programme): 0/120
Course objectives
• -The aim of this course is not only to teach students the knowledge but also to increase their awareness and understanding of topics that will support the development of their financial literacy. Students will learn to use given tools which they should implement into their financial behaviour, and develop their skills in the area of finance and financial literacy. The course framework supports the increase of students’ financial confidence and confidence in their abilities, which will help students to recognize and eliminate external negative influences and deceptive practices used in the financial environment. Students will also be motivated to take care of their financial affairs and supported in developing sound financial habits and attitudes that will accompany them in real life and contribute to their financial self-sufficiency.

• -Furthermore, the students will get familiar with the fundamentals of financial literacy and its topics (see below Learning Outcomes and Syllabus), which are necessary for being financially literate. Students can actively participate in the activities of organizations that address the issue of financial literacy. Student participation in surveys of financial literacy will help them better understand what is needed to improve their financial literacy.

• -The course is designed for students of all faculties who are interested in how to deal with their money, how to orientate in the complex offer of financial products and how to achieve their financial goals. • - The aim of the course is to present students with information that will allow them to create an individual financial plan and gain knowledge useful for providing consulting support among low-income inhabitants and increase the financial literacy of adults in the Czech Republic.

• -The students will gain knowledge in the form of model examples of real situations and financial products and assessing the suitability for the selected type of target group. The students themselves will be involved in lessons, will search for individual products, compare their advantages and adapt their parameters to meet their financial goals. Finally, the graduates will be able to better plan their financial performance and its surroundings and to assist them in solving the problems associated with the need for financial literacy and to help in the socially weak citizens.
Learning outcomes
Learning Outcomes are divided into several blocks/categories that include:

Money and Transactions • Students should understand the forms of money, and how the purchasing power of money can vary over time. • Handle cash and electronic money, use online transaction tools, and know how to reduce the impact of inflation on their savings. • Know the types of income, maximize the benefits of your income, enhance your career opportunities, change specialization, or implement your business idea. • Be able to resist aggressive sales tactics and avoid unnecessary sales offers.

Planning and Managing Finances • Students will be able to analyze their income and expenses, prepare their budget, personal financial statements and learn how to use them in everyday life. • They will be motivated to follow their financial plans and be able to actively manage and monitor their finances, reduce variable expenditures and set priorities. • Define your financial goals and action steps for implementing them. • Develop a personal financial plan and adjust it based on current needs and life situation.

Saving and Investing • Benefits of saving, setting spending limits, creating reserves for unexpected expenses, and know how to save effectively. Knowing the difference between saving and investing. • The relationship between the return and risk, understand what is liquidity. Assess whether the financial goal can be achieved by investing. Identify the types of investments and assess their level of risk. • Choose the most appropriate type of investment in relation to the set financial goal, investment horizon, investor's attitude to risk, etc. • Know the ways how to preserve wealth and plan finances in the long-term. Be able to adequately prepare for retirement and know your financial possibilities.

Loans and Debt Management • Students will understand the consequences of debt and its reduction in their future disposable income. Be able to distinguish individual types of loans, their characteristics, advantages and disadvantages. • How debt products work, including consumer loans, credit cards. • Types of mortgages, how they work and their application in real life. • Know what to do if you are unable to pay your debts. Being able to estimate the cost of the loan, the costs, instalments, compare the offers and choose the most suitable option according to the circumstances. • Understand the effects of the interest rate change and other factors. Understand the obligations of the loan and the consequences of the default. Bankruptcy and property seizures, debtor rights.

Financial Environment • Students will be able to analyze their financial environment. Understand economic aspects. • Understand the role of regulatory authorities and the responsibilities of financial service providers. • Know your rights in the area of consumer protection and know where to find the necessary information or professional help. • Be capable of selecting financial products from a wide range of comprehensive financial products. • Be able to take responsibility for your behaviour and understand the consequences of your financial decisions. • Be able to resist deceptive practices and frauds. Educate yourself to become informed consumers who are aware of your obligations and rights.

• Learning outcomes are based on the international standard and the G20 / OECD INFE competency framework on financial literacy
Syllabus
  • 1) Introduction to Financial Literacy and Its Importance for Society
  • 2) Financial Planning
  • 3) Money and Transactions, Money Management
  • 4) Saving and Investing
  • 5) Debt Management, Mortgages
  • 6) Retirement Planning
  • 7) Consumer Protection Rights
  • 8) Financial Arbitrator
  • 9) Property Seizures and Collections
  • 10) Social System and Benefits
  • 11) Life Situations and Their Solutions
  • 12) Evaluation of Activities and Assignments
  • 13) Final Evaluation and Discussion
Literature
    required literature
  • GITMAN, Lawrence J., Michael D. JOEHNK and Randall S. BILLINGSLEY. Personal financial planning. 13th edition. United States: South-Western Cengage Learning, 2014, xix, 635. ISBN 9781111971649. info
    recommended literature
  • BRABEC, Jiří. Finanční gramotnost : srozumitelně a bez překážek. Edited by Jan Šimek. 2. vyd. Plzeň: ABC Finančního vzdělávání, 2012, 90 s. ISBN 9788090505704. info
  • KOCIÁNOVÁ, Helena. Finanční gramotnost v kostce, aneb, Co vás neměl kdo naučit. Olomouc: Anag, 2012, 151 s. ISBN 9788072637676. info
  • DVOŘÁKOVÁ, Zuzana and Luboš SMRČKA. Finanční vzdělávání pro střední školy : se sbírkou řešených příkladů na CD. 1. vyd. V Praze: C.H. Beck, 2011, xix, 312. ISBN 9788074000089. info
  • NOVESKÝ, Ivan. Slabikář finanční gramotnosti : učebnice základních 7 modulů finanční gramotnosti. 1. vyd. Praha: Cofet, 2009, 448 s. ISBN 9788025442074. info
Teaching methods
Active attendance at seminar, active cooperation in the delivery of financial literacy.
Assessment methods
The course is completed fulfilling requirements.
A prerequisite for the granting of credit: 1) passing tests of financial literacy, 2) the active participation in seminars (80% of attendance), 3) write an essay/seminar work and cooperation in the delivery of financial literacy.
Tests of financial literacy are four:
Entrance test of financial literacy at home subject - by the end of the first week of teaching.
Second Final verification of financial literacy test after elf Seminar - at the latest by twelves Seminars.
.
Language of instruction
Czech
Follow-Up Courses
Further Comments
Study Materials
The course is taught annually.
Teacher's information
https://is.muni.cz/auth/el/1456/jaro2014/BPF_FIGR/index.qwarp
The course is also listed under the following terms Spring 2014, Spring 2015, Spring 2016, Spring 2017, Spring 2018, Spring 2019, Spring 2020, Spring 2021.
  • Enrolment Statistics (recent)
  • Permalink: https://is.muni.cz/course/econ/spring2022/BPF_FIGR