Economics and Personal Finance Bennie Waller wallerbd@longwood.edu 434-395-2046 Longwood University 201 High Street Farmville, VA 23901

Personal Finance The development of this course was partially funded by an education grant from Dominion

This course will be; Incredibly rewarding, if you allow it to be Information and knowledge that will follow you and impact you throughout life Challenging Satisfies a MATH goal It is online Taught in summer school

Persistence, tenacity and great attitude will be required. The GREAT news is that I am 100% confident that each one of you can be successful in this course if you choose to be. Persistence, tenacity and great attitude will be required. DISCIPLINE: The ability to forego today what many can have to have tomorrow what so few can. I will work as hard as you. Make an effort. Do some research Then ask good questions.

Review of syllabus Be sure that you fully understand the syllabus, course requirements and deadlines. All communication will be via live.longwood.edu accounts COURSE: Finance 250 INSTRUCTOR: Dr. Bennie D. Waller OFFICE: Hiner Building, Room 106 PHONE: (434) 395-2046 EMAIL: wallerbd@longwood.edu OFFICE HOURS: By appointment

Course deadlines Topic Assignment Due Economics 6/23/2013 Financial planning, choice of career and earning potential The impact of taxes on income/tax planning Financial statements and budgeting Understanding the role of financial institutions and cash management Exam 1   Time Value of Money 6/30/2013 Consumer Loans Understanding credit - credit card, problems, reports and scores Buying a home or automobile Insurance Exam 2 Saving/Investing 7/10/2013 Stocks Bonds Comparison shopping /consumer protection/contracts Retirement and estate planning Final Exam Projects due 7/11/2013

Personal Finance All online assignments will be administered through Canvas. For all online assignments you may use any source that you have available. However, you may NOT work in conjunction with or communicate with others. Given that you may work ahead, answers to quizzes and/or exams will be made available only after the deadline has passed. Be proactive, look up answers to questions missed! The Final Exam will be given on July 10 at Longwood or in an approved proctored environment prior to deadline.

Personal Finance Student evaluation - Students will be evaluated on his/her performance on quizzes, examinations and projects. Project 10% Quizzes Exam 1 20% Exam 2 Final Exam 40% Numerical Grade Letter Grade 90 and above A 80-90 B 70-80 C 60-70 D Below 60 F

Personal Finance There will be NO EXCEPTIONS for technical issues such as lost internet connections, power outages, or any other issues relating to assignment deadlines. I would suggest that all other programs be turned off before starting a quiz or exam. If an assignment is missed, regardless of reason, there will be no make-ups allowed. This does include exams. I would recommend NOT waiting until the last minute to complete assignments as it is incredibly risky, something that this class should teach you to minimize.

Personal Finance MAKE-UP POLICY: There will be no make-ups allowed for any work. ACADEMIC INTEGRITY/HONOR CODE POLICY: Cheating in any form will not be tolerated. If the instructor determines that a student has cheated on an assignment, the grade of “F: may be assigned for the assignment or the entire course. PROJECT: Your project will consist of an analysis in terms of buying a home based on a given career. You should include calculations and provide an explanation. You will also write a paper/report as to how your lifestyle impacts your financial situation.

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Personal Finance Longwood University suggest using Google Chrome for Canvas

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Personal Finance Student introductions

10 Principles of Personal Finance The best protection is knowledge Have a plan Understand Time value of money Understand taxes Expect unexpected (liquidity) Differentiate wants from needs Protect yourself Understand risk relative to return Don’t play financial mind games Pay yourself first

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Earnings by majors

What determines Income? Skills, education and martial status.

Personal Finance Spreadsheet from BLS Spreadsheet

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Personal Finance Time Value of Money TVM Spreadsheet TMV Magic

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Financial Trivia Personal Finance Financial Trivia Spending Trivia Paycheck Trivia Etiquette Trivia Financial Football Financial Soccer

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Thank You