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Principles of Entrepreneurial and Personal Finance (IEL-B-3+5-WPM-IEL)
Department
- Bachelor's program Medical, Health and Sports Engineering
Course unit code
- IEL-B-3+5-WPM-IEL
Level of course unit
- Bachelor
Year of study
- Fall 2024
Semester when the course unit is delivered
- 5
Number of ECTS credits allocated
- 5.0
Name of lecturer(s)
- Dipl. Ing. Rauhofer Michael, MAS
- Blösl Florian, BA MA
- FH-Prof. Priv.-Doz. Razen Michael, PhD
Learning outcomes of the course unit
- Upon completion of this elective course, students will:
- Be familiar with the basic principles of economics and finance
- Understand the broader contexts and relevant factors surrounding financial decisions
- Understand risk and how it can be managed
- Be able to make reflective and informed economic and financial decisions in personal and entrepreneurial contexts
- Understand how to calculate and manage cash flows
- Be able to conceptualize their business ideas and pitch them to potential investors
Mode of delivery
- face-to-face
Recommended optional program components
- none
Course contents
- The ability to make prudent economic and financial decisions is a crucial skill for successful entrepreneurs and self-reliant citizens alike. In the elective "Principles of Entrepreneurial and Personal Finance", students will learn how to effectively manage personal finances and develop key entrepreneurial financial skills. The course covers essential topics like budgeting, investing, and retirement planning, while also delving into business-focused areas such as cash flow management, start-up funding, and investor relations. This holistic approach equips students with the knowledge and tools necessary for sound financial decision-making in both their personal lives and entrepreneurial ventures.
Contents:
- Introduction to economics and finance
- Risk and time value of money
- The psychology of economic and financial decision-making
- Personal financial management (budgeting, saving and investing, debt management, retirement planning, taxes)
- Managing receivables, payables, and cash-flows
- Understanding balance sheets and income statements
- Start-up funding and relations with investors and creditors/banks
Planned learning activities and teaching methods
- Quizzes and group presentations
Language of instruction
- English
Work placement(s)
- none