This three-credit course, forming part of the Certificate in Practical Adult Knowledge and Competence (CPAK), is designed to provide adult learners with a strong foundation in both personal financial management and the principles of economic reasoning that underlie it. The class may be offered in online, hybrid, or in-person format over twelve weeks, with no prerequisites required. It is taught by instructors who possess at least a master’s degree in economics, finance, business, or education, and who demonstrate experience in adult instruction or financial coaching.

Course Description and Rationale

The purpose of this course is to equip adults with the knowledge and tools required to make informed, ethical, and confident financial decisions. Unlike many financial literacy programs that focus only on personal budgeting or consumer awareness, this course integrates financial literacy with economic understanding, teaching students how their household choices connect to larger market, policy, and behavioral systems. The rationale for this approach is that most adults understand fragments of financial practice—how to pay bills or manage debt—but lack a unifying framework linking time, value, inflation, taxation, and opportunity cost. By uniting practical numeracy, critical thinking, and behavioral awareness, the course aims to foster financial stewardship and economic citizenship.

Learning Outcomes

By the end of the term, students will be able to explain the relationship between money, value, and time; apply compounding and discounting formulas to real-world choices; analyze how inflation and interest affect purchasing power; distinguish productive from unproductive debt; and design sustainable personal budgets aligned with long-term goals. They will also learn to recognize cognitive and emotional biases in financial decision-making, understand the structure of taxes and incentives, and connect individual financial behavior with broader economic cycles and policy contexts. Finally, they will demonstrate an ability to incorporate ethical reflection into personal and civic financial choices.

Course Structure and Progression

The course begins with an introduction to the concepts of financial and economic literacy and explores how personal experience shapes financial habits. In the early weeks, students examine the psychology of money and learn to identify behavioral biases such as overconfidence, loss aversion, and impulsivity. The following units address the time value of money, compounding, and inflation, providing both conceptual explanations and hands-on spreadsheet exercises. Students then study risk, diversification, and leverage, exploring the difference between insurance, investment, and speculation.

Subsequent weeks focus on budgeting and cash-flow management, in which learners construct a personalized financial plan using zero-based budgeting and liquidity planning techniques. They conduct a midterm household financial audit, assessing their income, expenses, and debt obligations. Later in the course, attention turns to opportunity cost and economic reasoning, linking microeconomic principles like scarcity and trade-offs to personal life choices. Students also study tax systems, public finance, and market cycles, learning to interpret real economic data and policy announcements.

In the final weeks, students integrate long-term planning with ethical and civic reflection. They design a comprehensive financial plan covering savings, investment, debt management, and retirement, while analyzing the moral dimensions of stewardship, responsibility, and sustainability. The course concludes with student presentations and portfolio submissions demonstrating applied competence.

Teaching and Learning Methods

Instruction follows an andragogical model tailored for adult learners. Interactive lectures provide conceptual grounding, while problem-based learning scenarios allow students to practice real-world decision-making. Workshops include hands-on exercises in spreadsheets and online calculators, supported by discussion forums where learners relate economic concepts to their lived experience. Peer review and reflective writing encourage mutual learning and critical self-assessment.

Digital resources include financial calculators, Federal Reserve datasets, and open educational materials on budgeting, inflation, and investment. Simulated market exercises and roleplays are used to illustrate risk, compounding, and decision-making under uncertainty.

Assessment and Evaluation

Student progress is assessed through a blend of reflection, practice, and applied projects. Short quizzes and worksheets reinforce understanding of key formulas and principles. Reflection journals, submitted weekly, connect theory to personal experience. A midterm project—a Household Financial Audit—evaluates students’ ability to apply liquidity, debt, and budgeting concepts to their own or a hypothetical household situation. The final Capstone Project requires each student to design a three-to-five-year financial plan complete with projections, inflation adjustments, and an ethical commentary explaining how their choices align with principles of stewardship and civic responsibility. Discussion participation, peer review, and instructor feedback contribute to continuous formative assessment.

Learning Resources

The primary course text is Financial and Economic Literacy for Adults: Principles of Stewardship, Stability, and Sound Decision-Making (Torah University Press). Supplementary readings include Your Money or Your Life by Vicki Robin and Joe Dominguez, The Psychology of Money by Morgan Housel, and Common Sense Economics by Gwartney, Stroup, and Lee. Additional readings and exercises are drawn from open-access resources such as the U.S. Bureau of Labor Statistics, the Federal Reserve Education site, and online financial planning tools.

Accessibility and Support

The course is designed to be fully accessible to adult learners with diverse backgrounds. Recorded lectures, captioned videos, and flexible pacing support both synchronous and asynchronous participation. Optional tutoring sessions and digital-literacy workshops are available for those needing assistance with numeracy or spreadsheet skills.

Evaluation and Implementation

Course effectiveness is measured through pre- and post-assessments of financial literacy, qualitative feedback from learners, and instructor peer review. Pilot implementation is scheduled for Spring 2026, followed by full integration into the CPAK program in 2027. The course aligns directly with Civic and Legal Literacy (PAK 102), Critical Thinking and Logic (PAK 104), and Ethics and Cultural Competence (PAK 108), forming a cohesive educational track in personal and civic competence.

Summary

Financial and Economic Literacy for Adults is not merely a course in personal finance; it is a holistic curriculum in decision-making, stewardship, and social participation. It trains adults to read financial systems as moral and civic realities, to evaluate trade-offs intelligently, and to act with foresight in both household and public life. Through this integrative approach, the course fulfills the mission of the CPAK program: to equip adults with the knowledge most essential for independent, ethical, and competent living in the modern world.