Williamsville C.U.S.D. #15 Business Department

Transcription

1 Program Title: Consumer Education Williamsville C.U.S.D. #15 Business Department Program Description: This course is required to meet the Consumer Education Requirement. The topics covered in this course will be: money management, the consumer and the economy, savings, banking, investing and financial services, taxes, housing, consumer credit, the consumer in the marketplace, insurance, transportation, and food. Program Content: Consumer primarily covers money management, financial security, credit management, resource management, and risk management. I.Program Guide II.Job Shadowing A.Requirements 1.Researching the career 2.Writing formal letter inquiring about job shadowing 3.Interviewing job shadowing participant 4.Participating in job shadowing experience 5.Writing forma thank you letter 6.Creating a visual about career 7.Creating a presentation about career 8.Creating a personal resume III.Financial Security A.Investing in Stocks 1.Types of Stocks 2.Classification of Stocks 3.Investment Strategies 4.Researching Stocks 5.Investing in the stock market IV.Money Management A.Employee Pay and Benefits 1.Gross pay, deductions and net pay 2.Benefits and incentives 3.Figuring gross pay 4.Figuring net pay B.Federal Income Tax 1.Our tax system 2.History of taxes 3.Components of the tax system 4.Definitions 5.Preparing to file 6.Preparing income tax returns

2 Consumer Education Curriculum Page 2 a)federal 1040 EZ b)federal 1040 A with schedules 1 and 2 C.Budgeting 1.Definitions 2.Creating a budget D.Checking Accounts and Banking Services 1.Purpose of a checking account 2.Opening your checking account 3.Using your checking account 4.Reconciling your checking account 5.Endorsements 6.Types of checking accounts 7.Finding a bank 8.Banking services 9.Bank fees E.Comparative Shopping V.Credit Management A.Credit in America 1.The history of credit 2.The vocabulary of credit 3.Advantages and disadvantages of consumer credit 4.Kids and credit 5.Sources of credit B.Credit Procedures and Laws 1.Credit records 2.Creditworthiness 3.Getting started with credit 4.Credit applications 5.Credit ratings 6.Credit reports 7.Credit laws 8.Credit discrimination C.Cost of Credit 1.Responsibilities of consumer credit 2.Why credit costs vary 3.Computing the cost of credit a)simple interest b)annual percentage rate c)adjusted balance method d)previous balance method e)average daily balance method

3 Consumer Education Curriculum Page 3 4.Evaluating credit cards D.Problems With Credit 1.Solving credit problems 2.Bankruptcy laws and their purposes 3.Major causes of bankruptcy 4.Advantages and disadvantages of bankruptcy VI.Resource and Risk Management A.The Automobile 1.Buying a car 2.Leasing a car 3.Cost of operating a car 4.Consumer Protection for car buyers B.Automobile Insurance 1.Cost of automobile insurance 2.Types of automobile insurance a)liability coverage b)collision coverage c)comprehensive coverage d)personal injury protection e)uninsured/underinsured motorist coverage C.Personal Risks and Insurance 1.How insurance works 2.Insurance terminology 3.Risks 4.Risk Management 5.Planning a personal insurance program D.Property and Liability Insurance 1.Homeowners insurance 2.Umbrella liability insurance E.Health and Life Insurance 1.Health Insurance 2.Income Protection insurance 3.Life Insurance F.Housing 1.Housing alternative 2.Living arrangements

4 Consumer Education Curriculum Page 4 3.Renting your residence 4.Landlord/tenant responsibilities 5.Buying your residence Consumer Education Learning Outcomes (By the end of the course, students should be able to... ) State Goal 15 b: Understand that scarcity necessitates choices by consumers. 15.B.4a Explain the costs and benefits of making consumer purchase through differing means. 15.B.4b Analyze the impact of current events (e.g., weather/natural disasters, wars) on consumer prices. 15.B.5a Analyze the impact of changes in non-price determinants (e.g., changes in consumer income, changes in tastes and preferences) on consumer demand. 15.B.5b Analyze how inflation and interest rates consumer purchasing power. Selected References and Other Materials Teaching Resources: Managing Your Personal Finances (South-Western, 1997) Readings: Managing Your Personal Finances (South-Western, 1997) Money, Banking, Credit, and Students (Illinois State Treasurer and Consumer Credit Counseling Service of Central Illinois, 1999) How to Choose a Credit Card (National Institute for Consumer Education, 1996) Current Articles from State Journal Register Films and Videotapes: Your Checking Account (Finance One, 1997) Your Credit Rating (Finance One, 1997) Buying a Vehicle Shop Smart (Coalition for Vehicle Choice) Choice, Chance, Control That s Life (Insurance Education Foundation, 1998) Various segments from current television shows Computer Software: On Your Own in Middletown Life Simulation (C. W. Publications) Internet Sites: Yahoo Finance (

5 Consumer Education Curriculum Page 5 Simulations: How to Do Your Banking, Your Guide to Financial Institutions and the Services They Provide (Cenmark, Inc. 1998) Checking Simulation Guest Speakers: Equipment: Car Salesmen from various dealers in area Eileen Jones from Illinois State Treasurer s Office Angela Gaston from Robert Morris College Consumer Protection Agency representative Deron Powell, State Farm Insurance Agent Computer with multimedia systems Computer with LDC Display Laser jet printer Ink jet printer Overhead projector TV/VCR Assessment: Chapter assignments Chapter lecture quizzes Chapter tests Checking simulation Income tax simulation Stock simulation Class Participation Job Shadowing Project Semester Exam