Financial anxiety and well-being

elective courses

Remote learning

This course is designed to teach students about financial anxiety and well-being, emphasizing a business and management viewpoint. The curriculum will draw from relevant academic research, providing a comprehensive understanding of financial anxiety and well-being, particularly in unstable times. It aims to equip students with theoretical and practical insights into these concepts and their interconnectedness.

Structured into various modules, the course will probe into different facets of financial anxiety and well-being. Special attention will be paid to the genesis and theoretical framework of various concepts and constructs, methodologies for measurement, and practical implementation strategies.

This course is designed to teach students about financial anxiety and well-being, emphasizing a business and management viewpoint. The curriculum will draw from relevant academic research, providing a comprehensive understanding of financial anxiety and well-being, particularly in unstable times. It aims to equip students with theoretical and practical insights into these concepts and their interconnectedness.

Structured into various modules, the course will probe into different facets of financial anxiety and well-being. Special attention will be paid to the genesis and theoretical framework of various concepts and constructs, methodologies for measurement, and practical implementation strategies.

Module-1: Financial Literacy (2 sessions)

A. Conceptualization of financial literacy

B. Measuring (digital) financial literacy

C. Financial literacy and financial crisis

D. Financial Literacy and Young people /student

Module-2: Financial Anxiety (2 sessions)

A. Introduction & measuring financial anxiety

B. Effects of financial anxiety on mental and physical health

C. Young adults/students' financial anxiety

D. COVID-19 and financial anxiety

Module-3: Financial well-being (3 sessions)

A. Introduction to financial well-being

B. Theoretical disposition of financial well-being (component, structure, antecedents)

C. Overall subjective well-being and financial well-being

D. Personal financial wellbeing and its connection with family & societal well-being

Archuleta, K. L., Dale, A., & Spann, S. M. (2013). College students and financial distress: exploring debt, financial satisfaction, and financial anxiety. Journal of Financial Counseling and Planning, 24(2), 50-62.

Archuleta, K. L., Glenn, C., Lawson, D. R., Clady, J. P., & Solomon, S. (2021). I Know I Should, But Do I Do It? Connecting Covert and Overt Financial Behaviors. Journal of Financial Counseling and Planning, 32(3), 550-563.

Archuleta, K. L., Mielitz, K. S., Jayne, D., & Le, V. (2020). Financial goal setting, financial anxiety, and solution-focused financial therapy (SFFT): A quasi-experimental outcome study. Contemporary Family Therapy, 42, 68-76.

Brüggen, E. C., Hogreve, J., Holmlund, M., Kabadayi, S., & Löfgren, M. (2017). Financial well-being: A conceptualization and research agenda. Journal of Business Research, 79, 228-237.

Fan, L., & Henager, R. (2022). A structural determinants framework for financial well-being. Journal of Family and Economic Issues, 43(2), 415-428.

Grable, J. E. (2016). Financial risk tolerance. Handbook of consumer finance research, 19-31.

Huston, S. J. (2010). Measuring financial literacy. Journal of Consumer Affairs, 44(2), 296-316.

Lusardi, A., & Mitchell, O. S. (2011). Financial literacy and retirement planning in the United States. Journal of pension economics & finance, 10(4), 509-525.

Mahendru, M., Sharma, G. D., & Hawkins, M. (2022). Toward a new conceptualization of financial well‐being. Journal of Public Affairs, 22(2), e2505.

NOTE: Further materials related to specific modules will be provided later.

Students successfully completing this course are expected to be able to:

I. demonstrate a comprehensive understanding of financial anxiety and its effects on young adults/students.

II. understand, assess and analyze the importance of financial literacy and wellbeing to manage financial anxiety.

III. gain academic & managerial reading skills by understanding and synthesizing readings of academic journals.

Two class quizzes (Multiple Choice Questions): 15% + 15%

Final examination in the form of individual assignments: 70%

Passing threshold: 60%

DESCRIPTION OF THE INDIVIDUAL ASSIGNMENT:

The task: A RESEARCH ESSAY on a chosen topic from the course.

The task will include but is not limited to the following generic structure:

1. Introduction and problem identification

 Introduction

 Research-gap identification

 Problem formation

2. Literature review: Discussion and evaluation of the pertaining literature

3. Methodology: Suggested methodological choice for this research (not much discussion is expected).

4. Results: Expected Results (not much discussion is expected).

5. Managerial implications: Why and how do you think your research will help the managers and practitioners?

SPECIFIC INSTRUCTION:

1. 2000 words, excluding the title page and references

2. APA or Harvard style of citation.

3. 12 times new roman font, 1.5 spacing, and 1-inch margin on both sides.

4. Page number at the bottom of each page

CRITICAL ISSUES:

• Zero tolerance for plagiarism.

• Use of OpenAI software (e.g., ChatGPT) is prohibited

• Peer-review will be conducted.

GRADING:

90% - 100% = A

80% - 89% = B

70% - 79% = C

60% - 69% = D

< 60% = F (Fail)