TotalSyllabus for FIN 371Personal Financial PlanningSummer Quarter 2007Personal Information- Instructor: John Lasik - Office: Shaw-Smyser 127- Office phone: (509) 963-2933- Office hours: M-Th 10:00-11:30; available mostdays via e-mail. - E-mail address: [email protected]. In order to routeyour mail to the proper folder, please include thenumber 371 in the subject line.- John’s website: www.cwu.edu/~lasikj. The coursesite may be accessed through this site. OverviewIllustrating today's financial issues with real-life scenarios, this 5-credit course examines how changing life situations impact an ever-evolving personal financial plan. Issues will be considered from both the clients’ andthe practitioners’ viewpoints. By the end of the course, students will be able to evaluate personal circumstances and execute an effective financial plan. Course Prerequisites. 1. Fin 370, Introductory Financial Management. 2. Basic computer skills – Ability to use Microsoft Word, Excel, and Internet Explorer. The prerequisite skill level is achieved upon the successful completion of ADMG 101 (Computer Applications) at CWU.3. Ongoing access to a computer with Internet connection and the Microsoft Office suite of applications. Course OutcomesThe following outcomes apply to FIN 371. By the end of the course, the student should be able to:1. Describe how changing life situations impact an ever-evolving personal financial plan.2. Prepare and use personal financial statements and cash budgets.3. Apply time value of money concepts to financial planning situations.4. Illustrate the basic principles of income taxes and implement a tax planning strategy.5. Describe the home-buying process and make decisions about affordability, mortgage loan qualification, mortgage loan alternatives, and rent versus buy.6. Choose the best loans by comparing finance charges, maturity, collateral, and other loan terms.7. Explain the role that insurance planning plays in personal financial planning, and the relationship between risk management and insurance.8. Analyze an individual’s health care insurance needs and shop for the appropriate coverage.9. Clarify the importance of property and liability insurance and describe the basic principles of property insurance, including types of exposure, and the meaning of coinsurance.10. Describe the role that investments plays in the personal financial planning process; implement a strategy appropriate to client goals.11. Illustrate the importance of retirement planning and identify the biggest pitfalls to sound retirement planning.12. Identify effective estate planning techniques to simultaneously accomplish goals and minimize estate taxes.13. Practice Excel-assisted personal financial planning applications.14. Explain how future personal financial planning decisions will be affected by: a) technology advances, b) ethical considerations, c) political matters, d) legal and regulatory constraints, and e)life expectancy considerations.371 Syllabus, Page 2Text and Other MaterialsTextbook. Personal Financial Planning, 11th edition, by Gitman and Joehnk, Thomson / Southwestern, 2008.Computing hardware and software. Students must have access to the Internet and Microsoft Office. If you donot have the complete Office suite, Excel and Word are the minimum applications required. Further, students must use CWU’s Groupwise e-mail system for all course-related work, not Hotmail or any other e-mail application. All homework assignments and handouts will be downloaded from the class website directly as Excel or Word documents, not HTML documents. Calculator. A financial calculator is required. Bring your calculator to class each day.Course Conduct Role of the instructor. The primary role of your instructor is to promote learning related to the course outcomes. This means he will strive to lead the class in a manner that facilitates your success in this course. Your instructor promotes active learning and views himself more as the “guide on the side” rather than the “sage on the stage”. Role of the student. Students should take personal responsibility for the amount of learning accomplished. Research on teaching and learning styles reveals learning is not a spectator sport. This means you cannot be passive in your approach—you should be fully prepared to participate in all class learning activities. Lasik’s courses typically require a minimum of 2 hours outside the class for every hour in class to perform at the “B” level or higher. The two hours include time for reading, homework, and exam preparation. The total time commitment, including class time, may approach 10 or more hours each week. Use of class time. Class time is used to: a) introduce and develop course concepts, b) demonstrate computer-and Internet-assisted applications, c) discuss personal finance-related current events, and d) review homework. In addition, class time is used to assess your progress toward accomplishment of the course outcomes through exams, homework, and in-class exercises, with feedback provided to you in a timely manner. Makeup work. It is anticipated that a few of you may be forced to miss a scheduled exam, quiz, or homework assignment during the quarter for various reasons. A makeup opportunity may be given at the instructor’s discretion, but only in those instances when the absence is “excused.” Excused absences include personal illness, emergencies in your immediate family, job interviews, and university sponsored trips, among others. For non-emergency planned absences, check in advance before you make travel and other arrangements.Late homework. In general, late quizzes and homework are not accepted for non-excused reasons; thus, no credit is awarded. The same rules apply as those specified for makeup work. All quizzes and homework are submitted electronically; thus your submission will be time-date stamped. That time-date stamp is used to determine if your submission is “on time.”Basis for Final Grade. Final grades are awarded based on your performance in these areas:Assessment Points15 chapter quizzes (on-line) @ 10 points each 1505 homework assignments @ 10 points each 50Attendance and participation 252 exams @ 75 points each 150Final exam – 75 points new material; 50 review 125 Total 500The actual number of points may deviate slightly from the number cited in the table.Attendance. You are encouraged and expected to attend every class. If you must be absent, be