This is a practical and useful course which presents an individual's normal life cycle (from birth to death) involving economic threats and opportunities as well as necessary everyday law. The course covers financial needs (with necessary law) in a time perspective, including inheritance and inheritance issues, generation changes, National Insurance and pensions, tax, as well as legal issues as a consequence of marriage and cohabitation.

The course can not be taken by students in Bachelor Programme in Finance due to overlap with other courses in the programme.

Course content

Financial life cycles and transactions 

  • Family budget
  • Loan, financing and the concept of profitability 
  • The concept of interest, some financial mathematics 
  • Tenancy or ownership 
  • Basic saving philosophy, bank deposits, shares, bonds and funds 
  • Financial investments, saving and insurance 
  • Purchase and funding of private home 

Inheritance and inheritance issues 

  • Inheritance and taxes
  • Generation change, holiday cottage, house and other values 

Basic finance and taxation

  • Introduction to taxation concepts and tax rules 
  • Rules for personal taxation, income and property 
  • Tax on private homes 

National insurance and pensions

  • In addition to calculations of pensions the syllabus covers legal choices as well. 
  • Pension contributions in the National Insurance Scheme 
  • Various forms of occupation pensions 
  • Survivor pensions 
  • Saving for retirement, paid-up policies 

Relevant legal issues

  • Minors, guardians and the Public Guardian's Office 
  • Financial consequences of marriage and cohabitation - during marriage/cohabitation and after a break-up.
  • Act on Debt


This is an excerpt from the complete course description for the course. If you are an active student at BI, you can find the complete course descriptions with information on eg. learning goals, learning process, curriculum and exam at portal.bi.no. We reserve the right to make changes to this description.