COMM 221 Coursepack: Personal Finance & Investment Overview 2025-2026 Concordia University
Comm 221 – Course Pack Concordia University John Molson School of Business Table of Contents 1.0 BASICS OF PERSONAL FINANCE ............................................................................................................................... 2 1.1 BASICS OF FINANCIAL PLANNING ................................................................................................................................................................ 3 1.2 UNDERSTANDING BANKING AND INVESTMENT OPTIONS .......................................................................................................................... 7 1.3 IMPORTANCE OF INSURANCE AND TYPES OF INSURANCE ....................................................................................................................... 10 1.4 UNDERSTANDING INCOME TAX AND TAX PLANNING ............................................................................................................................. 14 1.5 RETIREMENT PLANNING ........................................................................................................................................................................... 19 1.6 PRACTICE PROBLEMS ................................................................................................................................................................................ 25 1.7 PRACTICE PROBLEMS – SUGGESTED SOLUTIONS .................................................................................................................................... 26 2.0 SUPPLY & DEMAND EQUILIBRIA............................................................................................................................ 28 2.1 DEMAND EQUATION/FUNCTION .............................................................................................................................................................. 28 2.2 SUPPLY EQUATION/FUNCTION ................................................................................................................................................................. 30 2.3 FIRST EQUILIBRIA – EQUATING SUPPLY & DEMAND FUNCTIONS ............................................................................................................ 31 2.4 NON-LINEAR FUNCTIONS .......................................................................................................................................................................... 34 2.5 CONSUMER AND PRODUCER SURPLUS .................................................................................................................................................... 36 2.6 ELASTICITIES (OWN-PRICE/CROSS-PRICE/INCOME) ....................................................................................................... 38 2.7 TAXES AND DEADWEIGHT LOSS ................................................................................................................................................................ 41 2.8 QUOTAS AND PRICE LIMITS ...................................................................................................................................................................... 43 2.9 PRACTICE PROBLEMS ................................................................................................................................................................................ 48 2.10 PRACTICE PROBLEMS – SUGGESTED SOLUTIONS .................................................................................................................................. 49 3.0 ETHICS, SUSTAINABILITY & GLOBAL FACTORS ...................................................................................................... 53 3.1 READING A: BLACK WALLSTREET & THE TULSA RACE RIOTS................................................................................................................. 53 Question prompts for Reading A ........................................................................................................................ 54 3.2 READING B: THE 2008 MORTGAGE-BACKED SECURITIES (MBS) CRISIS ............................................................................................. 55 Question prompts for Reading B ........................................................................................................................ 57 3.3 READING C: ACID RAIN PROGRAM AND SULFUR DIOXIDE ALLOWANCES ............................................................................................. 58 Question prompts for Reading C......................................................................................................................... 60 3.4 READING D: COUNTRY OF NAURU........................................................................................................................................................... 61 Question prompts for Reading D ........................................................................................................................ 63