INDV 102 Syllabus and Introduction

INDV 102 Syllabus and Introduction - INDV 102 Web Delivered...

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INDV 102 Web Delivered Money, Consumers, and Family Lecture 851 Winter 2007 Professor: Richard Serlin Phone: 792-2181 Email: [email protected] Office Hours: By appointment Important note: Please read this entire syllabus thoroughly. In an internet course there are no class meetings to remind you of important information, procedures, or deadlines, so if you don’t read the whole syllabus, you may miss out on knowing something important which could hurt your grade. Please also check the news postings on the first page of our D2L site twice a week to see if there have been any changes, or if there is anything new. Introduction Did you know that according to The Administrative Office for the United States Courts, in 2001 there were 1.1 million divorces in the United States, but there were actually even more bankruptcies, 1.5 million? A child is currently more likely to go through his or her parent’s bankruptcy than their divorce. More people will file for bankruptcy this year than will graduate from college. Did you know that if current trends continue, more than one in six single mothers will declare bankruptcy by the end of the decade? That the number of single mothers in bankruptcy increased by 600% between 1983 and 2003? Did you know that 90% of those in bankruptcy qualify as middle class as defined by typical criteria such as going to college, owning a home, or having held a good job? (Part of the reason is that declaring bankruptcy is not easy. It requires the payment of up front fees that are now in the thousands, although if successful, many debts are discharged. Many poor people just live with untenable debt, garnishments, bill collectors, etc. as best they can) Did you know that the number of car repossessions doubled between 1998 and 2003? That the number of home foreclosures tripled between 1978 and 2003? Did you know that the probability of a person loosing his or her job increased by 28% between 1973 and 2003? Did you know that experts calculate that an individual is now 49% more likely to be without health insurance than a generation ago? That with soaring medical costs, the number of families declaring bankruptcy in the wake of a serious illness multiplied more than twenty fold between 1978 and 2003? Did you know that between 2002 and 2004 about 1/3 of the adult population aged 18 to 65 spent some time without health insurance?
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Did you know that between 1981 and 2005 average savings dropped from 11% of income to negative .5%, the first time that the average savings rate has been negative since the height of the Great Depression in 1933? Due to changes in the economy and government protections, the United States is far more financially dangerous today than it was when your parents were your age. Then, there was a series of regulations in place to protect individuals and families. There were laws strictly limiting the interest and fees credit card companies could charge. Now, there is no limit. A credit card company can overnight raise your interest rate from 10% to 30%, or more, for any
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INDV 102 Syllabus and Introduction - INDV 102 Web Delivered...

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