Essential Finance

Course Dates

By studying this week, the students should have:

become familiar with navigating around the Virtual Learning Environment (VLE) and from VLE to links and back
test your ability to access files and the web conferencing software and sort out any problems with the help of the Technology Enhanced Learning team
learn how to look for, assess and reference internet resources
contribute to a discussion forum to introduce yourself to other students and discuss why you are interested in the course and what you hope to get out of your studies

to gain a sound appreciation of the importance of the specialist language of finance and the need to translate it into practical and jargon-free insights
create a dynamic personal system to record, link, apply and expand this broadening and deepening understanding

to appreciate the fundamental importance of identifying and defining financial concepts
to recognise that many common words have specialised meanings in finance
to recognise that financial terms may mean different things in different contexts
to identify and explain relevant examples
to create an appropriate expandable personal register of the concepts your are learning, concise definitions, and notes of your significance for your own professional work or personal finance

to grasp the fundamental importance of capital as a factor of production, and the role and legitimate perspectives of the providers of capital in the economy and society

to appreciate the meaning and importance of capital
to explain why capitalism considers that the providers of capital are entitled to benefits
to identify and explain relevant examples
to add these and related concepts to your personal register of financial concepts, including the significance for your own work or personal finances, or both

to develop a sound understanding of why all financial assets for one person are also financial liabilities for another, and connect this essential insight with the important financial concepts of net worth and equity

to understand the meaning and importance of assets and liabilities
to appreciate that every financial asset is also a financial liability, and why this is so important
to identify the meaning and importance of net worth and equity, the relationship between each of them, and their relationship with assets and liabilities
to produce and explain relevant example
to add these concepts to your personal register with the significance for your own work or personal finances, or both
to identify a maximum of three personal action points from their work on the course to date, and note them in your personal register, together with targeted completion dates

to gain comfort and confidence about interest and rates of return, including simple calculations and qualitative appreciation of directions of influence in more complex situations

to appreciate the meaning and importance of interest, rates of interest, return and rates of return, including the relationship between these important concepts
to successfully undertake simple calculations of interest and return
to understand the significance of compound interest and return
to appreciate how rates of return can be calculated from forecast and historic cash flows and their timing
to add these and related concepts to your register of financial concepts, including your personal significance

to introduce the fundamentally important concept of financial risk, connect it with general and personal insights from Weeks 1 to 4 of the course, and identify key personal action points

to understand the meaning and importance of risk and financial risk, and the relationship between them
to appreciate the relationship between risk and expected financial returns
to chose appropriately between simplified case study alternative investments
to understand the potential benefits of diversification, and also its limitations
to add these concepts to your register with their your personal significance
to identify a maximum of three additional personal action points from your work on the course to date, and noted them in your personal register, together with target completion dates and an accountability process