Syllabus for FCS 340: Money Management
Doctrine and Covenants 82:17 - "And you are to be equal, or in other words, you are to have equal claims on the properties, for the benefit of managing the concerns of your stewardships, every man according to his wants and his needs, inasmuch as his wants are just-"
This is a 3-credit course in which you will learn sound principles of personal financial management including how the economy impacts personal finances, organizing financial records, tax implications of financial decisions, asset management, credit and debt, the planned buying process to make wise decisions regarding major purchases, insurance protection, investment basics, and retirement and estate planning. You will also learn the important principles of building wealth and generous giving.
There are no prerequisites for this course.
- Demonstrate a knowledge of fundamental principles of how to do well in the financial side of living life.
- Demonstrate how to make good, well informed financial decisions for self and loved ones.
- Implement the Dave Ramsey Foundations of Personal Finance into your life and the lives of your family.
This course has been prepared for students with the desire to see, hear, and know the "things of our Father," to be able to discern them through study and by faith. Consider the similarities between you and Nephi and Moroni in the following scriptures:
- "And it came to pass after I, Nephi, having heard all the words of my father...also the things which he spake by the power of the Holy Ghost, which power he received by faith on the Son of God...I, Nephi, was desirous also that I might see, and hear, and know of these things, by the power of the Holy Ghost..." (1 Nephi 10:17)
- "For he that diligently seeketh shall find; and the mysteries of God shall be unfolded to them, by the power of the Holy Ghost..." (1 Nephi 10:19)
- "And by the power of the Holy Ghost, ye may know the truth of all things." (Moroni 10:5)
The course goal is for you to also receive the truth found in this course through the power of the Holy Ghost as you diligently desire and work to see, hear, and know the principles you study.
The atmosphere in this class reflects the mission statement of BYU-Idaho.
- Build student testimonies of the restored gospel of Jesus Christ and live its principles.
- Provide quality education for students of diverse interests and abilities.
- Prepare students for lifelong learning, for employment, and roles as citizens and parents.
- Maintain a wholesome academic, cultural, social, and spiritual environment.
The atmosphere in this class reflects the mission statement of BYU-Idaho.
- Personal Finance, Thomas E. Garman and Raymond E. Forgue, 12th edition.
- It is highly suggested that you rent the e-book through the University Store. ISBN: 9781133595830.
- Foundations in Personal Finance, Dave Ramsey, 5-Chapter e-text and videos.
- You must purchase your access code through the University Store.
- Free download of Microsoft Office available through the University Store, if you don’t already have the Microsoft Office Suite installed on your computer.
Compare prices for your textbooks through the University Store Price Comparison site. They will show you all of the options from the University Store plus several online options to help you find the best price.
Department Policy Regarding Intellectual Property and Course Materials
All of the materials in this course are covered by fair use and copyright law and are proprietary (intellectual property). Students are not permitted to sell, post, trade, share, distribute, or send any information contained in this course (including outlines, handouts, syllabi, exams, quizzes, PowerPoint presentations, lectures, audio and video recordings, or images of the same, etc. including your own work for this course) to any parties outside of this course (ie Course Hero, Quizlet, Google Docs, etc.) by any means (e.g., posting, uploading, attachments, etc.) without the express written permission from the creator of these works and the Department Chair. Any of these actions violate the Academic Honesty policies of Brigham Young University-Idaho (please see Academic Honesty) and will be dealt with as such. The materials in this course are also intellectual property and taking any materials from the course and posting them outside of this course in any manner will be construed as theft and distribution of intellectual property. If you engage in any of these actions, or use any of these materials without authorization, the instructor has the right to impose an appropriate academic sanction (e.g., give you a failing grade for the assignment and/or fail you from the course). Additionally, the respective Course Lead, Program Lead, and/or Department Chair also reserve the right to impose appropriate academic sanctions regardless of any imposed by the instructor.
Learning Model Architecture
The lesson structure used in this course is based on the sub-modules of Start Here, Know, Do, and Become.
- (3 hours) The Prepare items are contained in the Start Here and Know sub-modules.
- Foundational Principles
- Connection and Case Study
- Study the Chapter (see Study Tip below)
- (1-2 hours) The Teach One Another activities are typically located in the Know or Do sub-modules.
- Research Summary
- Occasional lesson specific Teach One Another activities
- (4-5 hours) The Do and Become sub-modules are where you will find the Ponder/Prove activities.
- Application assignments and other lesson specific activities and explorations
- Budget, Investment Simulation, and Financial Records System Projects
- Unit Assessments
Study Tips from President Monson – Relevant to the Learning Model
“Have discipline in your preparations. Have checkpoints where you can determine if you’re on course…Make certain as you prepare that you do not procrastinate.” (Thomas S. Monson, Three Gates to Open, BYU Speeches, Nov 14, 2006)
The following are descriptions of the assignments mentioned above.
Study the Chapter
After reading announcements from your instructor and considering the Foundational Principles and Connection and Case Study, you will study one chapter in each lesson according the course Study Process described below. The Study Process is a combination of the SQ3R and Cornell note study methods.
Study Tip from President Monson – Reading Preparation
President Monson had specific techniques that worked for him in his studies. "In academic preparation, I found it a good practice to read a text with the idea that I will be asked to explain that which the author wrote and its application to the subject it covered." (Thomas S. Monson, Three Gates to Open, BYU Speeches, Nov 14, 2006)
You are encouraged to follow President Monson's counsel and study the text as if you will be asked to explain what the author wrote.
Staying up-to-date with current economic conditions is imperative to successful financial management. Therefore, you will select a topic of interest from each chapter, locate and read a current article (within the last 5 years) on the topic, and write a 250 word summary of the article. You will share your summary with your group.
To assist you in your research, a Library Research Guide has been compiled specifically for this course to provide quick access to top financial management resources such as Consumer Reports, Money Adviser, Money Magazine, Bloomberg Markets, and The Economist.
One of the most effective tools to reach your financial goals is a budget. Your budget is your plan for spending and saving. Budgeting forces you to consider what is important in your life, what things you want to own, how you want to live, what it will take to do that, and what you want to achieve in life. Three budgets will be submitted throughout the semester with full instructions provided in the course.
You will participate in a stock market trading simulation throughout the semester. Real-time market conditions and stock prices will be used. You will manage a virtual portfolio of $1,000,000 as you strive to improve your skills without the risk involved in using real money. You will sign up for a free simulation during the first week of the semester. Throughout the semester you will buy and sell stocks, keeping track of the patterns emerging in the stock market and justifying the investment decisions you make. You are expected to check your simulation 3-5 times each week. You will report your learning and portfolio balance three times during the semester.
Financial Records System
You will set up your own financial record keeping system in a physical or electronic form (or a combination of the two), near the beginning of the semester. You will add to it throughout the semester according to instructions provided in the course. You will submit a report on the completeness of your financial records during the last lesson of the semester.
Keep your notes from studying the textbook chapters and your notes from the Dave Ramsey materials and use them to study for your unit assessments (exams). Four assessments are taken throughout the semester; they are not comprehensive. All assessments are objective (multiple choice) and are about 100 questions in length. No makeup assessments are available.
Review your notes for just a few minutes each day for best retention and recall. If you choose not to do this, begin studying for your exams at least three days before taking the exam. Don't cram; you may pass the test, but you will most likely forget everything very soon after taking the exam.
Your final grade in this course will be calculated based on the number of points you earn divided by the total number of points possible. A letter grade will be based on the following percentiles:
|Percentage||Letter Grade||Percentage||Letter Grade||Percentage||Letter Grade|
An "A" grade represents consistently outstanding understanding, application, and integration of subject material and extensive evidence of original thinking, skillful use of concepts, and ability to analyze and solve complex problems.
A "B" grade represents considerable or significant understanding, application, and incorporation of the material which would prepare a student to be successful in next level courses, graduate school, or employment.
A "C" grade represents sufficient understanding of the subject matter. The student demonstrated minimal
initiative in preparation, and therefore, mastering new materials may prove challenging.
A "D" grade represents poor performance and initiative to learn and understand and apply course materials. Remediation will be necessary to prepare for additional instruction.
An "F" grade represents failure.
The above grade explanations apply to individual assignment grades as well as final semester grade.
Observe the Honor Code, especially to be honest; live a chaste and virtuous life; obey the law and all University policies; use clean language; respect others; abstain from alcoholic beverages, tobacco, tea, coffee, and substance abuse; participate regularly in church services; observe dress and grooming standards; and encourage others in their commitment to comply with the Honor Code.
Living the Honor Code will also be demonstrated as you heed the promptings of the Spirit; raise the bar of personal righteousness; act with integrity; and foster a spirit of sacrifice, consecration, love, service, and willing obedience.
All work should demonstrate your best effort and be professional and appropriate for a 300-level university course.
Remember, the purpose of a BYU-Idaho education is to help you become a disciple leader, lifelong learner, creative and critical thinker, effective communicator, skilled professional, and an engaged citizen.
This course is essentially a management course in which you are practicing good management skills; one of these skills is timeliness. It is suggested that you submit work early to allow enough time to ask questions of your instructor or to handle illness, other time commitments, internet outages, computer failures, or other technical problems. You are responsible for submitting all work on time.
This is a 3-credit course. BYU-Idaho recommends reserving 3-4 hours per credit to complete the study and course work. This means that you should spend about 9 hours per week to successfully complete this course.
You can expect your instructor will respond to an email or other communication within 24 hours, excluding the Sabbath and U.S. holidays. You can also expect that your work will be graded within 7 calendar days of the assignment due date.
Netiquette is internet etiquette or acceptable social behavior when using the internet. There is a real person on the other side of your computer screen, and therefore you should always treat others courteously. Behavior such as being demanding or rude, calling someone a derogatory name, or making threats is always inappropriate. Treat your classmates and your instructor in a respectful and professional manner just as you would if you were seeing them face to face. This counsel applies to any type of communication including discussion board posts, emails, participating in a video conference, or any other method of communication.
The instructor reserves the right to change any part of this syllabus at any time during the semester in order to adapt to changing course needs. You will be notified prior to any changes that may take place.
Please read the University Policies document (located in the Welcome folder of the course) for information pertaining to student honor, students with disabilities, sexual harassment, complaints and grievances, and the copyright notice.