1st Quarter Curriculum Focus: Practical knowledge about personal finances, which ties to basic economic concepts and provides

Transcription

1 Title Economics & Personal Finance Course Code 6120 Duration 36 Weeks Suggested Grade Level: 10, 11, 12 Description: Students learn how to navigate the financial decisions they must face and to make informed decisions related to career exploration, budgeting, banking, credit, insurance, spending, taxes, saving, investing, buying/leasing a vehicle, living independently, and inheritance. Development of financial literacy skills and an understandingof economic principles will provide the basis for responsible citizenship and career success. In addition to developing personal finance skills, students in the 36-week course will also study basic occupational skills and concepts in preparation for entry-level employment in the field of finance. The course incorporates all economics and financial literacy objectives included in the Code of Virginia B. The cooperative education method is available for this course. Students combine classroom instruction and supervised on-the-job training in an approved position with continuing supervision throughout the school year. 1st Quarter Curriculum Focus: Practical knowledge about personal finances, which ties to basic economic concepts and provides rich hand-on experiences. VA SOLs: Online Course: Classroom Activities: Resources Used: Economics and Personal Finance Standards of Learning Shown in italics under description and resources used. EMC Personal Finance a Lifetime Responsibility Student Activities Book (shown in italics). GW From School to Work Student Textbook

2 Approx. Dates Unit # Unit Title Lesson # Lesson Title Module # Formative Assessments Description & Resources Used VA SOL VA SOL VA SOL VA SOL VA SOL Sept 4-7 N/A Introduction, Class Procedures, & RCC Placement Testing 4 Sept Education and Income 82 Sept Investing in Yourself 86 Unit 7 Career Decisions and Investing in Human Capital Evaluating the Financial Benefits of Education: Working with Percentages, Investigating Income Potential EPF.1a EPF.4a EPF.4c EPF.10b EPF.15c 1 Making Decisions Based on Financial Benefits and Lifestyle Trade-offs: Comparing Education and Income EPF.1a EPF.4a EPF.4c EPF.10c 1 Researching Careers: Job Application EPF.10b EPF.15a EPF.4c EPF.15d 1 Finding a Good Fit -- Self Evaluation of Areas of Strength Balanced Against Areas of Interest: Resume EPF.10b EPF.4c EPF.15d 1 Developing Good Habits in all Areas Financial, Health, Educational, and Social: Interview Questions EPF.15a EPF.17f 1 Number of Days 10 Summative Assessments WISE FINANCIAL LITERACY PRE-TEST Understanding Financial Forces Setting Life Goals Short and Long Term Planning: Cover Letter EPF.15a EPF.17a EPF.18a 1 Understanding Economic Trends: Thank-you letter EPF.5b EPF.5c EPF.17f 1 Large Scale Economic Shifts (boom and bust): W-4 & Paystub EPF.1f EPF.5c 1 Sept Taxes 26 Taxes How They Affect You Unit 8 Taxes 10 Planning Ahead in the Short Term: W-2 Form EPF.7c EPF.15c EPF.16b EPF.15e 1 Long-Term Tax Planning: 1040EZ Form EPF.17a EPF.18e 1

3 Oct State and Local Taxes 94 Preparing Throughout the Year: 1040EZ Case Study EPF.7c EPF.8d EPF.16e 1 Situations in Which you Might Need to File for an Extension (and how to avoid trouble); Avoiding Audits: 1040A Form EPF.16d EPF.16e 1 Ways in Which the Federal and State Tax Forms May Differ: 1040A CaseStudy EPF.7c EPF.16c Tips on Using Tax Software: Understanding Payroll Deductions EPF.16d EPF.16e 1 Revisit the Federal Budget: conomy/budget-hero EPF.7c EPF.8a EPF.8d EPF.8e 1 Politics: Interplay Between Local and Federal taxes: tyrecords.htm EPF.7c EPF.16c 1 Unit 9 Money Managent - Keeping More Money in Your Pocket 10 Oct Money Management Keeping More Money in Your Pocket 28 Setting Financial Goals 98 Oct Creating a Budget Your Personal Net Worth Scenario: Saving Up to Buy a Car: Kelley Blue Book & Edmunds Car Search EPF.17a EPF.11a 1 Scenario: Paying for College: Comparing Education Costs EPF.15a EPF.17a EPF.17d 1 Scenario: Buying a House: Goal Chart EPF.11d 1 An Annual Budget: Setting up a Budget EPF.17d EPF.17a EPF.17b EPF.11f 1 Monthly and Weekly Budgets: Preparing a Shared Budget EPF.17d 1 Maximizing Investments: Applying the Rule of 72 EPF.17c EPF.18a 1 Evaluating Whether an Asset is Costing More than it is worth: Predatory Lending EPF.17c 1 Oct Banking Essentials 31 Banking Basics Unit 10 Banking Essentials 10 Banking Basics: Checkbook Register EPF.12h EPF.6a EPF.6b 1 Financial Institution Services: Checkbook Reconciliation EPF.6b EPF.12a EPF.12b 1

4 Oct 29-Oct Types of Accounts: Calculating Simple and Compound Interest EPF.12c EPF.2e 1 Avoiding Fees and Maximizing Interest Revenue: Calculating the Impact of Fees EPF.18a 1 E-banking: Online Banking Account EPF.12d EPF.12g EPF.12c Evaluating Financial Institutions EPF.12a EPF.12b EPF.12c 1 Handling Your Account 111 Entering Debits and Credits EPF.10g EPF.12e a EPF.12f Why the Bank Balance and Your Balance May Not Be the Same EPF.12f 1 Setting Aside Money for Annual and Monthly Expenses EPF.17d EPF.11f 1 2nd Quarter Curriculum Focus: Practical knowledge about personal finances, which ties to basic economic concepts and provides rich hand-on experiences. VA SOLs: Online Course: Classroom Activities: Resources Used: Economics and Personal Finance Standards of Learning Shown in italics under description and resources used. EMC Personal Finance a Lifetime Responsibility Student Activities Book (shown in italics). GW From School to Work Student Textbook

5 Formative Assessments Summative Assessments Approx. Dates Unit # Nov Unit Title Lesson # Lesson Title Module # The Bottom Line on Borrowing 33 Loans and You 114 Nov Credit and Credit Cards 116 Description VA SOL VA SOL VA SOL VA SOL VA SOL Unit 11 The Bottom Liine on Borrowing Number of Days Expenditures that May Require a Loan: Paying for Credit EPF.13a EPF.13e 1 Costs Associated With Loans; Reducing the Size of Loans: Comparing Loan Sources and Costs EPF.13e EPF.13h 1 Activities that Establish Your Credit Rating: Credit Report EPF.13c EPF.13d Increasing Your Credit Rating (advantages and drawbacks): Understanding Credit Card Costs EPF.13g 1 Nov Maintaining Creditworthiness Credit Cards Versus Debit Cards: Making a Get-Out-of-Debt Plan EPF.13b EPF.12c 1 Comparison Shopping for Credit Cards: Making a Get-Out-of-Debt Plan EPF.13b 1 Tracking and Managing Credit Card Expenditures: Making a Get-Out-of- Debt Plan EPF.13b 1 EXAM MODULES Factors That Affect Your Credit Rating: Making a Get-Out-of-Debt Plan EPF.13c EPF.13g 1 Getting Information on Your Credit Rating: Transunion, Equifax, Experian EPF.13g 1 36 Managing Debt 123 Effective Debt Management EPF.13f 1 Avoiding Conspicuous 124 Consumption EPF.10f Filing for Bankruptcy EPF.13i 1 Unit 12 Smart Spending 8

6 Nov Smart Spending 37 Nov Dec The Role of Incentives 126 Examples of Incentives EPF.2a EPF.10a Evaluating the True Cost and the True Value EPF.2a EPF.10a 1 Comparison Shopping 128 Metrics to Use EPF.10c EPF.10f EPF.11c 1 Automobiles Lease or Purchase? Evaluating Less Obvious Details EPF.10h EPF.11f EPF.10d Housing Rent or Buy? Comparing Total Cost of a Lease vs Purchase: Car Lease Agreement EPF.11a 1 Benefits and Disadvantages of Leasing and Purchasing: Car Lease Application EPF.11a 1 Comparing Total Cost of a Lease vs Purchase EPF.11b EPF.11e 1 Benefits and Disadvantages of Renting and Buying: Calculating Mortgage Costs EPF.11c EPF.11d 1 C Dec Consumer Skills 41 Dec Developing Consumer Sklls Becoming a Responsible Consumer: Making Informed Choices EPF.10i 8 Overview of Consumer Rights: Calculating Living Costs in Various Cities EPF.10j Landlord Disputes EPF.10j 1 Understanding Contracts 137 Understanding Contracts EPF.10e EPF8b 1 Consumers and the Environment Unit 13 Consumer Skills Considering the Impact of True Total Cost of An item (not just personal cost) EPF.8c 1 Consumer Groups -Impact on Environmental Issues EPF.8c 1 Buyer Beware! Frauds, Scams, and Schemes 140 Frauds, Scams, and Schemes EPF.10j EPF.10k 1 F Unit 14 Financial Planning 12 Dec Financial Planning 45 Investments 141 Choosing a Variety of Investments: Calculating Simple and Compound Interest EPF.7f EPF.18b Scenario: Bull Market: Balancing Risk and Return EPF.5c 1

7 143 Scenario: Bear Market: Making Lump Sum Investments EPF.5c 1 Jan Excess for Investment Creating Excess for Investment (A penny saved is a penny earned): Making Periodic Investments EPF.18a EPF.18b EPF.178c 1 Investing Time in Monitoring Investments: Calculating the Impact of Fees EPF.18b EPF.18c 1 Jan Wise Planning 146 Avoiding Shortcuts: Savings Plan EPF.11f EPF.10k 1 The role of Inflation: Inflation 147 Calculator EPF.17d EPF.17f EPF.17e Planning for Retirement: Time Value of Money Chart EPF.18d EPF.18e Estate Planning: Social Security Statement EPF.16f 1 Jan The Stock Market Understanding the Stock Market Low Risk Investment Options Basics of Stocks - Choosing Investments that Match Your Needs EPF.18f 1 E-trading (benefits and disadvantages) EPF.18f 1 Types of Low-Risk Investments (treasury bonds, FDIC, etc.) EPF.18b EPF.18c 1 Investment Goals Change Over Time, So Portfolios Should Change EPF.18b EPF.18f 1 Jan High Risk Investing 154 Types of High-Risk Investments EPF.18f EPF.18b EPF.18c Unit 15 The Stock Market Red Flags to Watch for (If something sounds too good to be true ) EPF.15a EPF.17a EPF.17d 1 9 3rd Quarter Curriculum Focus: Practical knowledge about personal finances, which ties to basic economic concepts and provides rich hands-on experiences. VA SOLs: Online Course: Classroom Activities: Resources Used: Economics and Personal Finance Standards of Learning Shown in italics under description and resources used. EMC Personal Finance a Lifetime Responsibility Student Activities Book (shown in italics). GW From School to Work Student Textbook Governor's Challenge in Financial Education Case Study

8 Formative Assessments Summative Assessments Approx. Dates Unit # Jan 29-Feb 1 16 Unit Title Lesson # Lesson Title Module # Description VA SOL VA SOL VA SOL VA SOL VA SOL Unit 16 Insurance: How to Protect Yourself Insurance: How to Protect Yourself 51 Insurance Basics 156 Types of Insurance EPF.14a EPF.14b EPF.14c 157 Health Insurance Choices EPF.14b Types of Life Insurance (benefits 158 and drawbacks) EPF.14b 159 Automobile Insurance EPF.14b Securing Your Assets and Feb Protecting Against Litigation EPF.14b EXAM MODULES Everfi Online Financial Modules Feb Credit Score EPF.13a EPF.13c EPF.13d EPF.13g 1 2 Insurance EPF.14a EPF.14b EPF.14c 1 3 Credit Cards EPF.13a EPF.13b EPF.13c EPF. 13d EPF. 13e 1 4 Taxes EPF.16a EPF.16b EPF.16c EPF.16d EPF.16e-f 1 5 Investing EPF.18a EPF.18b EPF.18c EPF. 18d EPF.18e-f 1 Feb Savings EPF.18a EPF.18b Ks EPF.18b 1 8 Mortgages EPF.13a EPF.13c EPF.13d EPF.13e EPF.13f 1 Number of Days 10 Feb 25 - Mar 1 Net Worth Family Balance Sheet EPF.17c 1 Budget Family Budget EPF.17d 1 Assets Review Family Assets EPF.17c 1 Liabilities Review Family Liabilities EPF.17c 1 Goals Review Family Goals EPF.17a EPF.18b EPF.18c EPF.18d EPF.18e 1 Mar 4-8 Revised Budget Revise the family budget to meet goaepf.17d EPF.18b EPF.18c EPF.18d EPF.18e 3 Revised Balance Sheet Revise after goals are met. EPF.17c 2 Mar Presentation Present recommendation to the famiepf.17c EPF.18b EPF.18c EPF.18d EPF.18e 5 Mar Mar Governor's Challenge in Financial Education: Case Study Complete all finance modules. Tutoring for WISE Financial Literacy Certification Complete all finance modules. Tutoring for WISE Financial Literacy Certification 15 GOVERNOR'S CHALLENGE ONLINE ASSESSMENT

9 4th Quarter Curriculum Focus: Basic economics theory, which follows a pedagogical sequence tied to prerequisite knowledge. VA SOLs: Online Course: Economics and Personal Finance Standards of Learning

10 Summative Assessments Approx. Dates Unit # Unit Title Apr The Basics- Part I 1 Lesson # Lesson Title Module # Description VA SOL VA SOL VA SOL VA SOL VA SOL Unit 1 The Basics Economics and Economic Decisions 1 Scarcity EPF.1a 1 Number of Days 2 Tradeoffs and Opportunity Costs EPF.1a 1 Choices and Unintended 3 Consequences EPF.1b 1 Marginal Benefit/Cost Rule 1 Marginal Cost/Benefit Analysis Apr Economic Systems 5 Three basic economic questions EPF.1e 1 US Economy: Choice, Markets, and 6 Incentives EPF.1e 1 Economic history: Adam Smith 1 Macroeconomics and microeconomics EPF.1f Resources: Natural, Human, Capital Apr Factors of Production 8 Factors to Produce Goods/Services EPF.1d 1 Apr 29-May 2 4 May Factor Demand EPF.1d 1 10 Human Capital EPF.4b EPF.4c 1 3b 11 Capital Goods EPF.2g 1 12 Changes in Technology EPF.2g EPF.3a 1 13 Production Function EPF.1d 1 Production/Consumpt ion 14 Households vs. Firms EPF.2b EPF.2e EPF.2j 1 5 Types of Businesses Costs and Benefits of Exchange EPF.9a 1 16 Absolute and Comparative Advantage EPF.9b 1 Sole Proprietorship, Partnership, and Corporation Advantages vs. Disadvantages Competition 1 Advantages and Goals EPF.1b EPF.2d EPF.2c EPF.1c

11 19 Types of Competition EPF.2h 1 Private Enterprise 1 Entrepreneurship/Risks May Firm Behavior 21 Costs/Revenue vs. Profit EPF.2e 1 May May June Complete any unfinished modules. EPF.2c 22 Profit-Maximization Framework EPF.2e 1 23 Circular Flow Model EPF.2j 1 WISE FINANCIAL LITERACY CERTIFICATION TEST SOL TESTING June 7-12 FINAL EXAMS Students who pass the WISE are exempt from the FINAL