GQ Program Evaluation Response

 

1.0-1.1.6       Please notice that LSSU’s AC132 Principles of Accounting course is a 4 credit course.  This means that the course meets 60 hours throughout the course of one semester.  When reviewing the syllabus, please notice that the entire accounting cycle is covered from the accounting equation through financial statements, accounting for all types of ownership, evaluating financial statements, and of course, ethics in accounting.  We can certainly add another accounting course; our Principles of Accounting II which is an introduction to cost management.  This course would not match a specific objective, but would give students additional experience/knowledge of accounting systems.  If additional knowledge of accounting is required beyond the standards identified by the State, we’ll add the course.

 

1.31-4.9    As indicated on the Standards Matrix, standards 1.3.1 and 1.3.2 are met by BA121 Introduction to Business.  Components of this are also met by BA231 Business Communications which includes career exploration as students prepare for a unit on Employment Communications.  Activities include using the Bureau of Labor Statistics home page to explore careers or using MOIS as a career exploration test.  This course will be added to standards 1.3.1 and 1.3.2.  Standard 3.4 is met by course MK281 Marketing Principles and Strategy.  Two reasons why this standard is met by this course.  One:  the career exploration standard is in the section on Marketing thereby indicating that career exploration in Marketing is the expectation.  General career exploration is covered in standards 1.3.1 and 1.3.2.  Second:  as an introductory course in Marketing taken by all business majors, careers in Marketing are covered extensively as students move from one topic to another, i.e. when selling is covered, what kind of career is possible or when international marketing is covered, what kind of career could students who major in international marketing expect.  And the last standard covering career exploration in technology, standard 4.9, is met by TE446 Business Methods where students are required to create a career module including career opportunities, career outlooks, and earnings potential which also includes a school to work transition plan.  Though students do learn about careers in technology in BA121 Introduction to Business from student presentations, preservice business education students development an instructional unit on career development in all business fields (including technology) in their TE446 course.

 

Section 7 Standards Matrix

 

The institution has cross-referenced the standards on specific syllabi, however, the matrix needs to cite how the standard is explicitly met by the course *e.g. if the assignment is student teams, demonstrate how leadership and teamwork skills are developed.  I’m not sure what you’re asking for here.  My intention in adding the standard on syllabi was to create electronic links between the standard and the course syllabi meeting the standard.  I’m guessing that what you want would require our school to have each faculty member teaching a course that meets a standard to write a pedagogical paper describing teaching strategies and methods of instruction for each standard covered in each course.  Will you please clarify what it is you’re looking for and I will try and provide this information.

 

3.0-3.12    Are there specific content standards not covered in the Marketing section of the standard matrix?  As a small university and a small business school, our current course numbering system is designed to meet a variety of degree programs.  Changing a course prefix to designate a general business course as a marketing course is not possible at this time.  Is it possible to ask the review committee to review the standards to verify that the standards are met even if the course is not specifically designated as a marketing course?

 

For example, BA254 Business Law I would be considered a Business class a LSSU, whereas at other schools it may be number MN254 Business law.  Because financially we cannot offer courses numbered AC MN MK dealing with law, we offer a law course with a general business designation.  If we were a larger school with more resources we could offer a MN254 Business Law for Management, MK281 Business Law for Marketing, etc.  I ask that the committee recognize this financial constraint of our school and check to be sure that all content standards are met by the courses identified on the standards matrix and not count the number of courses by the course number.

 

Section 3 Instructional Faculty

 

            CS163:  Dr. Evan Schemm, Assistant Professor of Computer Science, PhD in Computational Science in Engineering from Michigan Technological University.

 

            CS263:  Dr. Tony Fabri, Associate Professor of Computer Science, EdD in Technological Education from University of Louisville.

 

Personal Finance Syllabus

 

Included in this response is a copy of Dr. Erkkila’s syllabus.  In the original submission, I used the most current syllabus created by an adjunct.  In a policy adopted by the School this past year, all adjuncts will from this point on be required to use the syllabus of a course created by a full-time faculty.  The next time this course will be offered, a full time faculty from the School of Business will be teaching the course using this syllabus as a template for the course.

           


LAKE SUPERIOR STATE UNIVERSITY

            FN242 Personal Finance (Fall 2003)

 

Dr. J.E. Erkkila  Office: South Hall, Room 310

Office Telephone: (906) 635-2108 or 1-888-800-5778 ext. 2108

Office Hours: M 1-2, TR 11-1 & by Appointment

e-mail: jerkkila@lssu.edu  FAX: (906) 635-2821

 

            Course Objectives

 

            Your purpose in taking this course is to learn personal finance.  The emphasis is on learning about all of the aspects you need to know in handling your finances such as the financial planning process, money management, credit and financing, personal taxes, insurance, investments, retirement planning, and estate planning. Knowledge of personal finance helps you make better decisions about spending your money and protects you from making expensive mistakes. “Your ability to make informed choices related to spending, saving, borrowing, and investing continues to be the foundation of long-term financial security.” The objective of the course is to provide you with the tools and framework to achieve personal economic satisfaction.

 

TextBook: Madura, Personal Finance Pearson, 2th Edition, 2006

.

            Course Content

 

     This course is organized to help you develop the key components of a financial plan.  The text is organized in to the components of a comprehensive financial plan.

 

1.      Budgeting and tax planning

2.      Managing liquidity

3.      Financing large purchases

4.      Insurance planning

5.      Investing

6.      Retirement and estate planning

 

You will complete each section of this text and complete an individual comprehensive financial plan as part of the final exam for this course.

Your plan will include the following sections and headings:

 

1.      Budgeting and budgeting tradeoffs

2.      Managing Liquidity and liquidity tradeoff

3.      Personal Financing and Personal Financing Tradeoff including Long-term Financing Strategy

4.      Protecting your Assets and Income and Insurance Tradeoff

5.      Managing investments and Investment Tradeoff including present and future value of investment

6.      Retirement Planning and Retirement Account Tradeoff including Retirement Contribution decision

7.      Maintaining Financial Documents

8.      Future Contingency  planning

 

Student Evaluation

 

 

 

Test 1

20%

Test 2

20%

Assignments & Quizzes

30%

Final

7:30 – 9:30

Monday, December 17th

30%

Total

100%

 

NOTE: There are no make up tests or make up assignments for any reason. There is no extra work to compensate for not doing sufficiently well on the assigned work or for missed work.

 

 

Grade ranges are: A+ 100-97, A 96-93, A- 92-90, B+ 89-87, B 86-83, B- 82-80 C+ 79-77, C 76-73, C- 72-70, D+ 69-67, D 66-63, D- 62-60, F < 60

 

Disability Statement:  In compliance with Lake Superior State University policy and equal access laws, disability-related (learning, medical, physical, etc.) accommodations and services are available. Students are encouraged to meet with their professor in a timely manner, preferably the first week of class, to discuss their accommodation needs. Students are required to register with the Office of Student Accommodation and Supports Services (OSASS)for disability verification and for determination of reasonable academic accommodations. OSASS is located in the KJS Library, Office 144, and Ext. 7559.

 

Personal Finance Web Sites – Many of these Site Have Personal Finance Sections 

 

1. www.mhhe.com/kdh6e

2. www.ihatefinancialplanning.com (Financial Planning Information)

3. www.tse.com (Canada’s Largest Stock Market)

4. www.nyse.com (US Market of Large Cap Stocks)

5. www.nasdaq.com (US Market Largely Tech and Small Stocks)

6. www.amex.com (US Market)

7. http://finance.yahoo.com (Streaming Video of Stock Market Information)

8. www.irs.gov (Internal Revenue Service)

9. http://cnnfn.cnn.com (Financial Information)

10. www.bloomberg.com (Investing 101, Mutual Funds 101)

11. www.yahoo.multexinvestor.com (Company Research Reports)

12. www.styockhouse.ca  (Canadian Site For Financial Information)

13. www.individualinvestor.com (US Site For Financial Information)

14. www.smartmoney.com (US Site For Financial Information)

15. www.missingmoney.com (Discover Money You Didn’t Know You Had)

16. www.bankraterate.com (Interest Rates of all Types)

17. www.investopedia.com (Encyclopedia of Financial Terms)

18. www.freecreditreport.com (It May Be free But …)

19. www.thompsoninvest.com (Investor Education Center)

20. www.netstockdirect.com

 

There are many other web sites mentioned in the text.

 

 

 


Addressing Comments

 

Included in this packet of information is the standard matrix which includes both the major and comprehensive major as indicated by the evaluation team.  I’ve added AC133 Principles of Accounting II (4 cr.) to the comprehensive major and also have included the matrix which has the course description of the AC133.

 

In the preparation of multiple Program Reviews for various majors, the School of Education at LSSU created a template for other school which teacher preparation programs to use.  In the GQ application TE443 Secondary Science Methods did not get changed to TE446 Business Methods for Secondary Business Teachers.

 

It is the intention of the School of Business that when final approval for this degree is obtained to begin the process of applying for Vocational Certification.  That application should be ready by Summer 2006.