University News

Western Illinois University Approves New Finance Course

April 22, 2014

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MACOMB, IL - - Western Illinois University will add a new course to its list of general education courses next semester. Financial Health (FIN 101) was recently approved by the WIU Faculty Senate to begin in Fall 2014.

The course, which was developed by Finance Instructor Stephen Gray, Finance Professor Peppi Kenny and Accounting Professor Jack Elfrink, will focus on teaching students about the role financial health plays in individual lives and the impact on well being that financial decisions can have. Students will learn to prepare personal budgets for financial decision making, to analyze costs and the benefits of using credit, to develop appropriate investment and saving alternatives, about major consumer protection laws and how to use them to protect financial health, to compare alternative financial choices and select the financial option that has the most potential to enhance well-being and how to identify the impact different career choices can have on wellness and financial health.

"The Faculty Senate's approval for this course is timely," Accounting and Finance Department Chair Gregg Woodruff said. "Nationally, the majority of students cannot pass a standardized financial literacy exam. And three out of five students who withdrew from Western last year cited financial reasons as the number one cause for leaving."

"Western's finance faculty members are excited to bring this course forward to serve the needs of our students and help them develop the personal financial knowledge and skills that can improve their well-being for a lifetime," Woodruff added.

For more information about the course, contact the WIU Department of Accounting and Finance at (309) 298-1152 or

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