Money, Mind and Markets: The Science of Financial Literacy

The six-week interdisciplinary course - “Money, Mind and Markets- the Science of Financial literacy” explores the role of human emotions, biases, using classical theories in finance, the rationale and origin of behavioural finance, economics, and behavioural aspects of investing in financial markets- thus the financial Psychology, economics and financial markets as the intersection of mind, money and markets for the science of Money Management on the base of financial literacy. Learners will gain practical insights on saving based ontheir age, nature,budgeting using tools, influence of emotions on investing, creating personal financial plans according to theirriskattitude. The course objective is to make you“FIT”-literate of Finance, Insurance and Taxation aspects, financial wellbeing - be it a undergraduate student,women investor or entrepreneur orrational investor, middle aged managerthinking of retirement - FIRE- financial independence, retire early,or be it a financial counsellor. The course aimsto build a solid foundation in financial literacyusing the pillars of Budgeting Saving and Investing, the history of money from barter system and the science of money management; attempts to make aware of cognitive biases using the concepts of “The Rational vs. Irrational Investor”behaviour and then explains the role of Psychology in Financial Decision-Making in the first week. The course introduces the financial psychology of spending and saving, where emotions, cognitive biases,herd mentality and mental accounting dimensions are interpreted. Thefoundations of behavioural finance and biases,influence of emotions, implications of mental accounting influence the financial decision-making are discussed in the second week. The fundamentals of Demand and supply of money, role of interest rate in savings, purchasing power parity, the triad of interest rate, inflation and exchange rate- the linkages with business cycles, the blend of micro economics and macroeconomics. The role of central government- impact of monetary policy and the dynamics of bond marketsare discussed in the third week Psychology of investment, risk taking vs risk aversion and the behavioural aspects of investing, Value vs. growth investing; Long-term vs. short-term investing;white swan events,Warren Buffett’s investment strategies using case studiesare dealtin the fourth week The learners can create their own personal financialplans that integrate budgeting, saving, investing, insurance, tax planning and retirement and wealth management strategies, estate planning,risk profiling, incorporating insights from behavioural finance and economic forecasting by creating their personal financial strategies in the fifth week. Technology aspects in Finance - Fintech tools, Sustainable investing and ESG principles and Ethics indecision-making in finance, financial well-beingand the future of finance in the last week.