School: Business and Law

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

  • Unit Title

    Personal Finance
  • Unit Code

    ECF3510
  • Year

    2016
  • Enrolment Period

    1
  • Version

    1
  • Credit Points

    15
  • Full Year Unit

    N
  • Mode of Delivery

    On Campus
    Online

Description

This unit focuses on the issues involved in personal finance and the provision of personal financial advice. It considers the range of possible investments, their relative returns and risks, and the impact of taxation. Retirement planning and the superannuation systemare examined atsome length. The roles of personal insurance and estate planning in an overall financial plan are outlined.

Prerequisite Rule

Students must pass 1 units from ECF1120

Learning Outcomes

On completion of this unit students should be able to:

  1. Develop a financial plan in broad outline.
  2. Discuss the impact of taxation, remuneration packaging, taxplanning.
  3. Fully comprehend the nature and scope of financial planning.
  4. Recognise the uses of personal insurance and estate planning.
  5. Show an understanding of the superannuation system.
  6. Understand the characteristics of alternative classes of investment, both direct and indirect.

Unit Content

  1. Estate planning.
  2. Investment alternatives: the major asset classes (shares, property and fixed interest; managed investments) and asset allocation.
  3. Risk management and insurance.
  4. Social security: the major benefits; eligibility tests.
  5. The structure and content of a financial plan.
  6. The structure of the financial planning industry in Australia and its regulation.
  7. The superannuation system.
  8. The taxation system and remuneration planning.

Additional Learning Experience Information

On campus students attend a weekly two hour lecture and one hour tutorial. Lectures are used to introduce the central concepts of the unit and to develop worked examples. Students are required to prepare answers to tutorial questions that explore further the ideas presented in the lecture and they then obtain feedback during the tutorial sessions. Preparation and participation are explicitly assessed. Engaged teaching and learning is applied through relating real-world economic data/scenarios from international institutions to empirically analyse whether they correspond with theory or not.

Off campus students receive lecture and tutorial materials via Blackboard and are required to submit two tutorial exercises for formal assessment in the course of the semester. Regular online access is required.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners.

ON CAMPUS
TypeDescriptionValue
AssignmentAssignment30%
ProjectInterview10%
Examination ^Final Examination60%
ONLINE
TypeDescriptionValue
AssignmentAssignment30%
ProjectInterview10%
Examination ^Final examination60%

^ Mandatory to Pass

Text References

  • ^ McKeown, W., Kerry, M., & Olynyk, M. (2014). Financial planning. (2nd ed.). Milton, Australia: John Wiley & Sons.
  • Latimer, P. (2014). Australian Business Law 2015. (34th ed.). Sydney, Australia: CCH Australia Ltd.
  • CCH (2014). Australian Master Financial Planning Guide-2014/15. (17th ed.). Sydney, Australia: CCH Australia Ltd.

^ Mandatory reference


Disability Standards for Education (Commonwealth 2005)

For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), inherent requirements for this subject are articulated in the Unit Description, Learning Outcomes and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the support for students with disabilities or medical conditions can be found at the Access and Inclusion website.

Academic Misconduct

Edith Cowan University has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:

  • plagiarism;
  • unauthorised collaboration;
  • cheating in examinations;
  • theft of other students' work;

Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere.

The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website.

ECF3510|1|1

School: Business and Law

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

  • Unit Title

    Personal Finance
  • Unit Code

    ECF3510
  • Year

    2016
  • Enrolment Period

    2
  • Version

    1
  • Credit Points

    15
  • Full Year Unit

    N
  • Mode of Delivery

    On Campus
    Online

Description

This unit examines the issues involved in personal financial planning and the provision of personal financial advice. The focus is on the accumulation phase of personal financial planning - up to the point of retirement. The regulatory environment is also examined. The financial principles of the time value of money, and risk and return are developed and applied.

Prerequisite Rule

Students must pass 1 units from ECF1120

Learning Outcomes

On completion of this unit students should be able to:

  1. Develop a financial plan in broad outline.
  2. Discuss the impact of taxation, remuneration packaging, taxplanning.
  3. Fully comprehend the nature and scope of financial planning.
  4. Recognise the uses of personal insurance and estate planning.
  5. Show an understanding of the superannuation system.
  6. Understand the characteristics of alternative classes of investment, both direct and indirect.

Unit Content

  1. Estate planning.
  2. Investment alternatives: the major asset classes (shares, property and fixed interest; managed investments) and asset allocation.
  3. Risk management and insurance.
  4. Social security: the major benefits; eligibility tests.
  5. The structure and content of a financial plan.
  6. The structure of the financial planning industry in Australia and its regulation.
  7. The superannuation system.
  8. The taxation system and remuneration planning.

Additional Learning Experience Information

On campus students attend a weekly two hour lecture and one hour tutorial. Lectures are used to introduce the central concepts of the unit and to develop worked examples. Engaged teaching and learning is encouraged via extensive use of realistic case studies and scenarios.

Off campus students receive lecture and tutorial materials via Blackboard. Regular online access is required.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners.

ON CAMPUS
TypeDescriptionValue
AssignmentAssignment 120%
AssignmentAssignment 220%
Examination ^Final Examination60%
ONLINE
TypeDescriptionValue
AssignmentAssignment 120%
AssignmentAssignment 220%
Examination ^Final examination60%

^ Mandatory to Pass

Text References

  • ^ McKeown, W., Kerry, M., & Olynyk, M. (2014). Financial planning. (2nd ed.). Milton, Australia: John Wiley & Sons.
  • Latimer, P. (2014). Australian Business Law 2015. (34th ed.). Sydney, Australia: CCH Australia Ltd.
  • CCH (2014). Australian Master Financial Planning Guide-2014/15. (17th ed.). Sydney, Australia: CCH Australia Ltd.

^ Mandatory reference


Disability Standards for Education (Commonwealth 2005)

For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), inherent requirements for this subject are articulated in the Unit Description, Learning Outcomes and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the support for students with disabilities or medical conditions can be found at the Access and Inclusion website.

Academic Misconduct

Edith Cowan University has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:

  • plagiarism;
  • unauthorised collaboration;
  • cheating in examinations;
  • theft of other students' work;

Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere.

The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website.

ECF3510|1|2