Maui Community College
Course Outline
1. Alpha and Number:
ECON 18
Course Title:
Personal Economics
Number of Credits:
3
Date of Outline:
March 19, 2004
2. Course Description:
Introduces ways to get your money’s worth. Explains
charge accounts, borrowing, mortgages, insurance,
taxes, investments, and retirement planning.
Emphasizes practical examples that face the typical
family.
3. Contact Hours Per Week:
3 hours/lecture
4. Prerequisites:
Corequisites:
Recommended Preparation:
Approved by
Date
5. General Course Objectives:
Students should come away from the course with a better equipped to make everyday financial
decisions. They will have an opportunity to practice job interviews and search for apartment rentals.
They will gain important information to assist them in making wise choices in such things as car
loans, credit card use, and budgeting. This knowledge should allow them to become better informed
consumers and more effective participants in the labor market.
6. Student Learning Outcomes:
For assessment purposes, these are linked to #7, Recommended Course Content.
On successful completion of this course, students will be able to:
a. figure out their current financial standing: how much they owe? what assets they have?;
b. develop short and long term financial goals influenced by personal values and current financial
situation;
c. critically evaluate various career opportunities, prepare a simple resume and practice job
interviews;
d. prepare a personal budget and evaluate their ability to stick to the budget;
e. prepare income statements and balance sheets;
f. become familiar with various types of personal insurance;
g. obtain guidance on getting debts under control or avoiding credit problems in the first place;
h. set up a regular savings program;
i. monitor their expenditures, working toward spending their money wisely;
j. participate effectively in small group discussion;
k. make informed decisions as consumers, employees, business people, and voters;
l. prepare and file simple tax returns and know when it is best to get professional assistance;
m. understand the basics of buying or leasing a car, be aware of potential long term costs and make
appropriate purchase decisions;
n. critically evaluate housing options and determine the best option based upon age, family
composition, and long-term employment.
7. Recommended Course Content and Approximate Time Spent on Each Topic
Linked to #6, Student Learning Outcomes
1 – 2 Weeks:
Overview of Personal Finance – Goal Setting (a, b)
2 - 3 Weeks:
Career Planning, identifying areas of job growth, creating a resume, contacting
potential employers, effective interview skills. (c, j, k)
2 – 3 Weeks:
Developing Personal Financial Statements (a, b, d, e)
1 – 2 Weeks:
Managing consumer credit, avoiding excessive debt, suggested Guest Speaker
from Consumer Credit Counseling (a, b, d, g, i)
1 – 2 Weeks:
Understanding and filing Income Taxes – state and federal (l)
2 – 3 Weeks:
Transportation and Housing Decisions – Buy, Lease, Rent (g, k, m, n)
1 – 2 Weeks:
Property and Liability Insurance (f, k)
1 – 2 Weeks:
Investment Decisions and Retirement Planning (h, k)
1 - 2 Weeks:
Financing their College Education, suggested Guest Speaker from Financial Aid
Office and EEOC (b, k)
8. Text and Materials:
Appropriate text(s) and materials will be chosen at the time the course is to be offered from those
currently available in the field. Examples include:
Text:
Planning Your Financial Future, 3rd Edition, Boone, Kurtz, Hearth. Thomson-Southwestern.
ISBN 0-324-18024-1
Study Guide for Planning Your Financial Future, 3rd Edition, Boone, Kurtz, Hearth. ThomsonSouthwestern.
Materials:
Videotapes viewed in class, (some videos borrowed from the Cooperative Education Office in
Kalama – job search, job interview, etc.) other instructional aids – including the classified ads
from the Maui News.
9. Recommended Course and Evaluation:
Specific course requirements are at the discretion of the instructor at the time the course is being
offered. Suggested requirements might include, but are not limited to:
Attendance and participation
Written assignments from the book and study guide
In-class exercises/assignments
Chapter Quizzes
Evaluation and Grading:
Grading:
Quizzes every 2 to 3 Chapters, 25 points each, 100 to 150 points total
Homework, 5 to 10 points a week, 100 to 150 points total
Course grade:
90 – 100%
80 – 89%
70 – 79%
60 – 69%
Below 60%
A
B
C
D
F
10. Method of Instruction:
Instructional methods will vary considerably with instructors. Specific methods will be at the
discretion of the instructor teaching the course and might include, but are not limited to:
a.
b.
c.
d.
e.
PowerPoint slide overview;
textbook reading assignment;
homework assignments;
presentation of sample problems such as budgets;
income statements;
f.
g.
h.
i.
j.
k.
tax returns;
car loans;
group discussions;
and videos shown in class;
to get the most out of class students need to come prepared, this implies having read the chapter
to be discussed.
Much of the homework will be completed during class time in small groups.