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Parent Programme
Bachelor of Business Level 7 NFQ
NFQ Level & Feference
Level 7/ Ref: M3.9
Duration
12 Weeks X 2.5 Hours per week
MODULE TITLE
Personal Business Finance (Elective)
STAGE
Award
Module Credit Unit
ECTS: 5

Personal Business Finance

Introduction

This Personal Business Finance module is intended to provide learners with an understanding of the nature and scope of personal business finance. It will allow learners to develop a knowledge and understanding of important household financial decisions by introducing relevant theoretical concepts, showing how actual calculations are made, and then discussing how these individual decisions are important for the individual and society.

Indicative Syllabus Content

The Financial Plan

  • The stages of a financial plan
  • Determine the individual’s attitude
  • Prepare a financial plan, including cash budgets and projections
  • Risks and Opportunities to financial plans

The Financial Lifecycle

  • Describe how personal financial management changes throughout an individual’s life from initial employment through to retirement
  • Saving for Retirement incentives
  • Personal finance and the social dimension.

Insurance

  • Describe different insurance products both life and non-life
  • The value of Insurance – worth it VS not worth it?

Debt Management

  • Differentiate between good and bad debt
  • List the pitfalls that lead to high debt levels
  • Prepare a debt schedule
  • Detail ways of reducing debt
  • Changing interest rate environment and impact on Debt
  • Lesson Learnt from the 2007-2008 Financial Crash

Savings, Investments and Pensions

  • Describe different savings, investment and pension products
  • Describe products that have tax breaks and the advantage of them
  • Explain the relationship between investment risk and return
  • Explain the difference between private and public pensions
  • Green Finance Green Bonds.

Regulation of the Financial Services Market

  • Describe the regulation of financial services.
  • Lack of Regulation v Over regulation and impact on the compliance function
  • Macroeconomic policy (Quantitative Easing/ Tightening) interest rates/inflations and FX

Minimum Intended Learning Outcomes (MIMLOs)

Upon successful completion of this module, the learner should be able to:
MIMLO1
Assess the attractiveness of a range of personal financial products and issues for a particular individual’s financial goal(s)
MIMLO2
Outline the personal financial management process and the associated financial life-cycle requirements.
MIMLO3
Evaluate the most common forms of personal investments.
MIMLO4
Assess the relevancy of the regulation in the Financial Services Markets for various stakeholders.
MIMLO5
Discuss how macroeconomic policy impacts personal finance i.e. inflation / interest rate relationship and foreign exchange rates.

Assessment

MIMLOs
Assessment
Percentage
1, 2, 3, 4, 5
CA 1: Presentation Individual
Total: 100%
Final Written Examination
All Assessments

Reassessment Opportunity

Where the combined marks of the assessment and examination do not reach the pass mark the learner will be required to repeat the element of assessment that they failed. Reassessment materials will be published on Moodle after the Examination Board Meeting and will be aligned to the MIMLOs and learners will be capped at 40% unless there are personal mitigating circumstances.

Aims & Objectives

This Personal Business Finance module aims to enable the learner to:

  • Understand of the core concepts and techniques relating to the management of personal finances, such as returns to investments, risks of investments, financial planning and financial forecasting.
  • Compare and Contrast alternative forms of mortgage, debt management, investment and insurance, and the methods that can be used to analyse their potential costs and benefits.
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