Syllabus
OPEN ELECTIVES-UG (Arts , Humanities and Commerce)
Unit 1
Introduction to personal finance – concepts – savings, investment, borrowings, inflation, time value of money – active and passive income – personal financial planning – steps – SMART financial goals – importance of personal budget
Unit 2
Investment planning – importance and objectives of investment – savings, current, fixed and recurring; investment avenues offered by securities market – primary market and secondary market – risks involved in securities market – mutual funds.
Unit 3
Personal Financial security: National Pension scheme – investment options under NPS – Retirement planning – role of retirement planning in personal financial management – sources of retirement income – estate planning – gratuity plans from the government -Provident Fund.
Unit 4
Management of Insurance – Benefits of Life Insurance, evaluating need for Life Insurance, Determining the Right Amount of Life Insurance. Choosing the Right Life Insurance Policy – Term Life Insurance, Whole Life Insurance, Universal Life Insurance, Variable Life Insurance, Group Life Insurance, Other Special Purpose Life Policies. Buying Life Insurance – Compare Costs and Features.
Unit 5
Tax Management – Personal Tax Planning –Fundamental Objectives of Tax Planning, Tax Structure in India for Individuals, Common Tax Planning Strategies.
Objectives and Outcomes
Course Objective:
The objective of the course is to familiarize the students with basic concepts of personal financial management and its avenues.
Course Outcomes:
The student will able:
CO1: To understand the basic concepts of Personal financial management.
CO2: To identify the significance of investment planning.
CO3: To describe the role of personal financial security and their options. CO4: To ascertain the relevance of insurance policies in personal finance. CO5: To understand the tax management mechanisms.
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PO1 |
PO2 |
PO3 |
PO4 |
PO5 |
PO6 |
PO7 |
PO8 |
PO9 |
PO10 |
PO11 |
PO12 |
PO13 |
PO14 |
PO15 |
| CO1 |
1 |
1 |
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1 |
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1 |
1 |
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1 |
1 |
| CO2 |
1 |
1 |
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1 |
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2 |
2 |
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1 |
1 |
| CO3 |
1 |
1 |
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2 |
2 |
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1 |
1 |
| CO4 |
1 |
1 |
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1 |
2 |
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2 |
2 |
| CO5 |
1 |
1 |
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1 |
1 |
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1 |
1 |
