Coming soon
PERSONAL FINANCE AND CONSUMER STUDIES
This course will enable the students to –
- Understand the changing socio-economic environment and consumer behaviour.
- Strengthen the financial management practices of the students for wise consumer behaviour.
- Understand the types of markets, changing concepts of markets, changes in socio-economic environment, and marketing strategies from consumer’s perspective.
- Have an overview of the consumer problems, consumer movement and consumer protection
Course Outcomes (COs):
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Course |
Learning outcomes (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Paper Code |
Paper Title |
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CHSC 315
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Personal Finance and Consumer Studies (Theory)
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The students will be able to –
CO94: Debate upon income, saving and investment management in the changing socio-economic environment. CO95:Deconstruct the various investment avenues to manage the personal finances CO96:Assess the role of consumer in the economy, consumer problems, education and empowerment. CO97:Evaluate the various issues related to consumer protection, legislative measures and redressal mechanisms.
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Approach in teaching: Interactive Lectures, Discussion, Reading assignments, Team teaching
Learning activities for the students: Self learning assignments, Seminar presentation |
Class test, Semester end examinations, Quiz, Assignments, Presentation, Individual and group projects |
- Family wants-elements of wants, Factors affecting and characteristics, Classification of wants
- Family Finance management
- Family Finance Management: Records to aid the process
- Family income, credit and budgets
- Factors influencing expenditure pattern
- Family savings and investments- need principles, channels of investment, tax
implications
- Consumer credit- need, sources, credit cards, Housing finance
- Personal finance management – tax implications, calculation of personal income tax,
wealth tax, inheritance & gift tax
- Definition of a consumer
- Role of consumers in the economy
- National Income, Per Capita Income, Household wise distribution of income
- Changing nature of the business world –e-commerce, e-business
- Role and responsibilities of the Home Maker as a Consumer
- Types of consumer problems – products and service related, deceptive, institution and
market related, policy related, investment and infrastructure related.
- Causes and solutions to consumer problems
- Consumer education- objectives and strategies
- Empowerment of consumers through education and awareness
- Consumer behaviour- factors affecting, models
- Role of family in decision making
- Guidelines for wise buying practices
- Consumer protection and movement in India
- Consumer rights and responsibilities
- Consumer organizations – origin, functioning, role and types.
- Consumer cooperatives – role, history and growth in India, PDS Kendriya Bhandars.
- Basic legislative framework for consumer protection in India, Consumer Protection Act 1986 COPRA, Alternative redressal mechanisms, Mediation centres
- Standardization and quality control measures: ISI, FPO, AGMARK, ISO, Eco mark, Wool mark, Silk mark, Cotton mark, Handloom mark, BEE star labelling and others
- Buying aids- labels, packaging, advertising, buying guides
- Khanna S.R., Hanspal S., Kapoor S. &Awasthi H.K., 2007Consumer Affairs, Unitversities Press IndiaPvt. Ltd.
- Sawhney, H.K. & Mital, M.,2007, Family Finance & Consumer Studies, Elite Publishing House Pvt.Ltd.
- Seetharaman, P. and Sethi, M.,2001, Consumerism: Strength and Tactics:CBS Publications New Delhi
