Office of Curriculum, Instruction, and Technology. Financial Literacy. Grade 10, 11, or 12. Prerequisite: None. Credit Value: 2.

Transcription

1 Office of Curriculum, Instruction, and Technology Financial Literacy Prerequisite: None Credit Value: 2.5 ABSTRACT The Financial Literacy course focuses on preparing students to meet the challenges of managing one s personal and family resources in the 21 st century. Essential foundations of financial planning include the application of knowledge, skills, and ethical values when making consumer and financial decisions. The curriculum examines income and careers, money management, credit and debt management, planning, saving and investing, consumerism, civic financial responsibility, and risk management and insurance. Topics in career development and planning are aligned with the National Standards for Student Counseling (Standard C: Career Development). Adopted by the Somerville Board of Education on September 20, 2016

2 2014 New Jersey Core Curriculum Content Standards (NJCCCS) Essential Question: Content: September October November December January A.1-4, B.1-3, F.1-6, C.1-5, 4-5, C.8, C.20, D.1-6,9, CRP1, CRP8, CRP10, CRP11 How do changing economic and societal needs influence employment? How are personal budgets developed? Income and Careers and Money Management A.6, B.1-10, C.1-9, D.1-15, E.3,9, F.4, G C.4, CRP 1,3,10,12 What factors effect the use of credit and Lending? Credit and Debt Management A.12-13, B.1-7, C.1-9, D.1-15, E.2, G.1, C.9 CRP2, CRP7 What factors affect saving and investing? Planning Saving and Investing A.6,12, B.4, C.8, D.4-7,9,10,12-13, E.8-10, F.1-2, G.1-7, 9.2.C.1-5 CRP1, CRP3, CRP11 How are assets protected? Risk Management and Insurance A.5,9,11, C.1-9, D.1-15, E.1-10, G F.1-6, CRP1-2, CRP5, CPR10, CRP12 How do spending decisions affect the overall economy? Why must the consumer be alert to the chances of fraud? Civic Financial Responsibility Becoming a Critical Consumer

3 Skills and Topics: assess and modify personalized student learning plans to support career goals analyze the relationship between various careers and personal earning goals identify a career goal and develop a plan and timetable for achieving it, including education and training costs and possible debt evaluate current advances in technology that apply to a selected occupation Financial Literacy describe and calculate interest and fees that are applied to various forms of spending, debt, and saving apply terms related to the management of income and credit compare the advantages and disadvantages of using credit outline the process of applying for credit explain what credit history is and why it is important explore credit options and examine the use and misuse of credit discuss methods of managing income and credit effectively compare strategies for saving and investing and the factors that influence how much should be saved or invested to meet financial goals construct a plan to accumulate emergency rainy day funds explain the pay yourself first philosophy: rule of 72 saving for emergencies investmet alternatives lenders (bonds) versus owners (stocks) analyze risks and benefits in various financial situations differentiate between property and liability insurance protection compare the cost of various types of insurance (e.g., life, homeowners, motor vehicle) for the same product or service, given different liability limits and risk factors evaluate individual and family needs for insurance protection using opportunity-cost analysis compare insurance policy coverage limits and related premiums and deductibles to minimize costs summarize the concept and types of taxation used to fund public initiatives assess the impact of emerging global economic events on financial planning assess how a variety of problem-solving strategies are being used to address solutions to global problems by participating in online discussions with peers from other countries summarize the purpose and importance of having a will

4 September October November December January Skills and Topics: set financial goals and explore the compare investment compare and contrast develop and practice consequences options the costs and benefits decision-making skills of excessive explain the importance of renters and analyze and critique debt of diversification homeowners insurance various sources of income and available resources research various sources and types of credit develop an investment portfolio based on goals and values discuss how salaries differ according to education, training, and/or experience demonstrate how exemptions and deductions can change taxable income explain the relationship among government programs and services and taxation explain how compulsory government programs (e.g., Medicare, Social Security) provide insurance against some loss of income and benefits to eligible recipients identify strategies for achieving specific financial objectives compare and contrast the financial benefits of different products and services offered by a variety of financial institutions compare and compute interest and compound interest and introduce an amortization table using business tools compute and assess the accumulating effect of interest compare and contrast the advantages and disadvantages of various types of mortgages analyze the information contained in a credit report and explain the importance of disputing inaccurate entries develop personal financial planning strategies that respond to and use tax deductions and shelters explore the use of various financial institutions to meet personal and/or family financial goals summarize how investing builds wealth and assists in meeting short- and long-term financial goals identify factors that influence financial planning describe and calculate interest and fees that are applied to various forms of spending, debt, and saving analyze processes and vehicles for buying and selling investments discuss ways of protecting income through the establishment of job stability, an increased knowledge of skills, and utilization of disability insurance cite examples of ways to protect against loss discuss factors that determine the cost of automobile insurance identify types of insurance typically provided for employees calculate the insured s portion of major medical expenses in a specific situation compare sources of health and disability coverage, including employee benefit plans, with options in another country compare and contrast the role of philanthropy, volunteer service, and charities in community development and quality of life in a variety of cultures explain the concept and forms of taxation and justify the use of taxation to fund public activities and initiatives analyze and apply multiple sources of financial information when prioritizing financial decisions determine how objective, accurate, and current financial information affects the prioritization of financial decisions evaluate how media, bias, purpose, and validity affect the prioritization of consumer decisions and spending evaluate business practices and their impact on individuals, families, and societies

5 September October November December January Skills and Topics: develop a spending plan (budget) based on income explain how predictive modeling determines credit scores compare the risk, return, and liquidity of various savings and compare and contrast options for long-term healthcare insurance apply consumer protection laws appropriately analyze how income and spending plans are affected by age, needs, and resources compare and contrast installment and cash loans explain the rights and investment alternatives compare and contrast the past and present role of government in for home care and external care explain how to selfinsure and how to relate consumer fraud, including online scams, to laws that protect consumers explain how to budget one s income responsibilities of buyers and sellers the financial industry and in the regulation determine when selfinsurance is determine reasons for the increase of identity design and utilize a simulated budget to monitor progress in attaining financial goals under consumer protection laws and discuss common unfair or deceptive business practices of financial markets determine the impact of various market events on stock market prices and on other appropriate determine when and why it may be appropriate for the government to provide theft worldwide and evaluate the extent to which victims of identity theft are successful in restoring determine tax -evaluate the savings and insurance coverage in their financial deductions for federal, implications of investments lieu of private identities state, and social personal and corporate coverage explain the need to security taxes bankruptcy for self comparatively shop and others evaluate the components of a pay stub describe how to prepare a 1040-EZ form analyze how changes in taxes, inflation, and personal circumstances can affect a personal budget analyze how savings, retirement plans, and other investment options help to shift current income for purposes of tax reporting and filing apply key concepts of investing to the purchase of stocks and bonds manage a portfolio through the purchase of virtual stocks record over the counter (OTC) closing prices use up-to-date and authentic data to analyze investments when making major purchases apply critical-thinking and problem-solving strategies during structured learning experiences demonstrate leadership and collaborative skills when participating in online learning communities and structured learning experiences

6 Skills and Topics: Integration of Technology: Writing: Formative Assessments: Summative Assessments: Performance Assessments: Interdisciplinary Connections: September October November December January explore the purpose and benefits of investing in mutual funds Internet, Web Quests, wireless laptop computers, SMART Boards, multimedia presentations, video streaming, podcasting Open-ended responses, conclusions and analysis of exploratory activities Warm-up activities, exploratory activities, class discussions, student participation Quizzes, tests, authentic assessments, benchmark exams, final exam Student participation, authentic assessments: financial plan, spending plan, budget *ELA: RI , W a-e, W a-f, W , SL , L Health/PE: E.1-2 Technology: A.4, F.2, B.3 RH , RST , WHST Science: C.1-3 Social Studies: C.15.b Counseling: National Standards for Student Counseling (Standard C Career Development) *ELA: RI , W a-e, W a-f, W , SL , L Social Studies: C.6.c *ELA: RI , W a-e, W a-f, W , SL , L , RH , RST , WHST *Mathematics: 6.SP1-4, 7.EE3, 7.NS3, 7.SP4, A-CED1, A-REI3, F-LE1a-b, F-LE5, S-ID1-4 Science: A.2-3, B.4, D.2 Technology: A.1, F.1 Social Studies: A.5.b, C.13.b, C.b-c *ELA: RI , W a-e, W a-f, W , SL , L , RH , RST , WHST Technology: D.3 World Language: Social Studies: C.3.a, C.5.a, C.5.c, C.16.a-c, D.5.a-c *ELA: RI , W a-e, W a-f, W , SL , L Technology: A.3, C.1 World Language: 7.1.AL.B.5 Social Studies: b C.13.d, C.14.a-d RH , RST , WHST Science: D.1

7 September October November December January 21 st Century Themes: Global Awareness Civic Literacy Financial, Economic, Business, and Entrepreneurial Literacy Health Literacy 21 st Century Skills: Creativity and Innovation Media Literacy Critical Thinking and Problem Solving Life and Career Skills Resources: Careers: Information and Communication Technologies Literacy Communication and Collaboration Information Literacy Green, C. (2008). Entrepreneurship: 21 st Century Business. South-Western Educational Publication. NEFE High School Financial Planning Program workbook. (2006). Applicable career options are discussed as they arise throughout the career and technical education program. Career options include, but are not limited to, Arts, A/V Technology, and Communications Career Cluster; Business, Management, and Administration Career Cluster; Education and Training Career Cluster; Finance Career Cluster; Government and Public Administration Career Cluster; Health Science Career Cluster; Hospitality and Tourism Career Cluster; Human Services Career Cluster; Information Technology Career Cluster; Transportation, Distribution, and Logistics Career Cluster. *2016 NJSLS: RL: Reading Literature N: Real Number System RI: Reading Informational Text A: Algebra W: Writing F: Functions SL: Speaking and Listening G: Geometry L: Language S: Statistics and Probability

8 2014 New Jersey Core Curriculum Content Standards (NJCCCS) February March April May June Essential Question: Content:

9 Skills and Topics: Financial Literacy

10 Skills and Topics: February March April May June

11 Skills and Topics: February March April May June Integration of Technology: Writing: Formative Assessments: Summative Assessments: Performance Assessments:

12 Interdisciplinary Connections: February March April May June 21 st Century Themes: 21 st Century Skills: Resources: Careers:

13 Course Requirements Grade: 10, 11, or 12 Prerequisite: None Credit Value: 2.5 Length of Course: Semester Course Description The Financial Literacy course focuses on preparing students to meet the challenges of managing one s personal and family resources in the 21 st century. Essential foundations of financial planning include the application of knowledge, skills, and ethical values when making consumer and financial decisions. The curriculum examines income and careers, money management, credit and debt management, planning, saving and investing, consumerism, civic financial responsibility, and risk management and insurance. Topics in career development and planning are aligned with the National Standards for Student Counseling (Standard C: Career Development).. Course Content This course will consist of the following units of study: Income and Careers Money Management Planning and Saving and Investing Becoming a Critical Consumer Civic Financial Responsibility Credit and Debt Management Risk Management and Insurance Course Objectives The student will demonstrate the ability to answer in detail the following essential questions: How do changing economic and societal needs influence employment trends and future education? How are personal budgets developed? What factors affect saving and investing? Why must the consumer be alert to the possibility of fraud? How do spending decisions affect the overall economy?

14 Course Objectives (continued) What factors affect saving and investing? How are assets protected? Evaluation Process A final average of 65% or better is required to be awarded course credit. Throughout the length of this course, students may be evaluated on the basis of, but not limited to: Formative Assessments, such as writing prompts, journals, and portfolios Summative Assessments, such as quizzes, tests, and midterm and final examinations Performance Assessments, such as projects and presentations Class Participation Homework Specific weights will be determined by course and level.

15 Student Agreement STUDENT NAME: Last Name First Name GRADE: My signature below indicates that I have received a copy of the Somerville Public Schools Course Requirements for Financial Literacy. I acknowledge my responsibility to read and understand all of the information contained in the Financial Literacy Course Requirements information and syllabus packet. Student Signature Date Note: Please share the course requirements for Financial Literacy with your parents.