Personal Finance Curriculum
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Transcript of Personal Finance Curriculum
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Regional Collaborative Technology & Business Personal Finance Curriculum
Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
Office of Curriculum & Instruction: The Regional Collaborative of Oceanport, Monmouth Beach, Shore Regional High School, & West Long Branch
Page 1
Submitted As Part of A Regional Collaborative Design to Achieve the Educational Goals of the Communities served by the Oceanport, Monmouth Beach, West Long Branch and Shore Regional School Districts
O Office of Curriculum & Instruction Bruce B.C. Preston
Business & Technology
Personal Finance
Special thanks to New Egypt Public Schools.
BOARD OF EDUCATION INITIAL ADOPTION DATE:
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Regional Collaborative Technology & Business Personal Finance Curriculum Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
2
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,
Course Philosophy
While the overall economy is growing larger, the economics of an individual play an increasingly more significant role in the global economy. It is important,
now more than ever, that every student understand the our global and national economic system, the correlating systems that influence it, and each
individuals role, as well as responsibility, within the economic system. Our choices affect not only ourselves and families but also the lives of every other
individual on the planet. Sound financial planning, developing personal budgets, and an understanding of the basic principles associated with business and
economics is essential for individual success as well as the success of our communities.
Scope and Sequence by Topic
1st Quarter:
Introduction To Basic Economic Principles & Theory
2nd
Quarter:
Money, Banking, & Personal Finance
Mondays = Status of the Economy Fridays = Case Studies
Mondays = Current Events Fridays = Guest Speakers
UNIT 1: Wants & Needs UNIT 2: Economic Systems UNIT 3: Supply & Demand UNIT 4: Business Cycles UNIT 5: Monetary & Fiscal Policy UNIT 6: Market Structures
UNIT 7: Money & Banking UNIT 8: Financial Markets UNIT 9: Business Organizations UNIT 10: Personal Finance UNIT 11: Insurance UNIT 12: Consumer Education
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Regional Collaborative Technology & Business Personal Finance Curriculum Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
3
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,
Last 2 Wks.: Career Decisions & Career Exploration
Course Proficiencies
Unit Topic Title Instructional Objective
Unit 1 "Wants & Needs" When presented with a list of resources, the learner will define "scarcity" and name a real-world example. Unit 1, Section 1
Scarcity & the Factors of Production
Unit 1, Section 2 Opportunity Cost Given a list of goods & resources, the learner will state the "efficient allocation" by matching the products. Unit 1, Section 3 Production Possibilities
Unit 2 Economic Systems
Given an example of a free market economy and a centrally-planned economy, the student will compare & contrast these systems by writing an essay.
Unit 2, Section 1 Key Economic Questions
Unit 2, Section 2 The Free Market & Free Enterprise
Unit 2, Section 3 Centrally Planned Economies Given three present-day economies, the student will be able to recognize & label them aloud with 100% accuracy. Unit 2, Section 4 Modern Economies
Unit 3 Supply & Demand Given different prices & quantities, the student will be able to graph a demand curve and chart the trend.
Given a change in demand, the student will be able to estimate the correlating price change & its effect.
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Regional Collaborative Technology & Business Personal Finance Curriculum Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
4
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,
Unit 4 Business Cycles Given a list of different countries' GDPs, the student will be able to compare & contrast productivity.
Given a list of GDP & population numbers, the student will be able to calculate GDP per capita & explain their findings.
Unit 5 Monetary & Fiscal Policy Given an economic indicator, the student will be able to predict monetary policy & list the tools that the Fed would use.
Unit 6 Market Structures Given an industry example, the student will be able to illustrate how the role of competition insures free enterprise.
Unit 7 Money & Banking Given a list of financial institutions, the student will be able to label the different types with at least 80% accuracy. Unit 7, Section 1 Money
Unit 7, Section 2 The History of American Banking Given a picture of three different types of currency, the student will be able to identify its uses & give specific examples. Unit 7, Section 3 Banking Today
Unit 8 Financial Markets Given a set of costs & profits, the student will be able to calculate the return on investment (R.O.I.) & payback.
Unit 9 Business Organizations Given 3 options of incorporation, the student will be able to pick a specific one, explain its benefits, & list the necessary steps.
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Regional Collaborative Technology & Business Personal Finance Curriculum Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
5
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,
Unit 10 Personal Finance Given a list of expenses & sample revenue, the student will be able to create a budget on computerized spreadsheet software.
Unit 11 Insurance Given list of the different personal insurances available, the student will show the needs for insurance using real-life examples.
Unit 12 Consumer Education After watching a video on different consumer scams, the student will be able to demonstrate the legal protection & recourse afforded.
Curriculum Unit
Personal Finance "Money, Banking & Finance"
Enduring Understanding: The learner will (TLW): become an active participant in their financial futures by analyzing and applying
economic and personal finance concepts to their lives.
District Curriculum Instructional Strategies
Topics Concepts Standards Activities Assessments Resources Essential Questions
Introduction to Economic Principles & Theory
UNIT 1 (WEEK 1) Profit Maximization 3 Case Study: Alan Greenspan Bio What are the economic ramifications
"WANTS & NEEDS" Commodity Products 3 of "wants" & "needs"?
"Value-Added" Products 1 http://www.federalreserve.gov/bios/ What is economics?
Unit 1, Section 1 What Is Economics? 1 Greenspan.htm
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Regional Collaborative Technology & Business Personal Finance Curriculum Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
6
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,
Scarcity & the Factors of Production Microeconomics Vs. Macroeconomics 1
Resources 1
TLW define & explain scarcity Natural Resources 1
Human Resources 1
Unit 1, Section 2 Capital Resources 1
Opportunity Cost Scarcity 1
Shortages 1
TLW explain opportunity cost Factors of Production 1
Opportunity Cost 1
Unit 1, Section 3 Trade-Offs 1
Production Possibilities Production Possibilities 1
Efficiency & Growth 1
TLW understand efficient allocation Cost 3
of goods & services Allocation of Goods & Services
District Curriculum Instructional Strategies
Topics Concepts Standards Activities Assessments Resources Essential Questions
UNIT 2 (WEEK 2) Adam Smith & "Wealth of Nations" 3 Case Study: NAFTA What is a free market economy?
ECONOMIC SYSTEMS "Laissez-Faire" Economics 3 How does free enterprise work?
John Maynard Keynes 3 http://www.econedlink.org/lessons/
Unit 2, Section 1 Keynesian Economics 3 index.cfm?lesson=EM50&page=teacher
Key Economic Questions How Markets Work 3
Key Economic Questions 3
TLW recognize diff econ systems The Free Market 3
Free Enterprise 3
Unit 2, Section 2 Traditional Economy 3
The Free Market & Free Enterprise Role of Incentives 4
Economic Freedoms 3
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Regional Collaborative Technology & Business Personal Finance Curriculum Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
7
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,
TLW define the free market Centrally Planned Economies 3
Modern Economies 3
Unit 2, Section 3 Comparing Economic Systems 8
Centrally Planned Economies Exchange Rates 5
Exports & Imports 5
TLW compare market structures Barriers to Trade 5
Market Structures 3, 8, 9
Unit 2, Section 4 Choice 4
Modern Economies Gain from Trade 5
Barter & Exchange 5
TLW contrast modern economies Free Trade 5
District Curriculum Instructional Strategies
Topics Concepts Standards Activities Assessments Resources Essential Questions
UNIT 3 (WEEKS 3 - 4) Law of Demand 8 Case Study: "Supply & Demand How does the laws of supply &
"SUPPLY & DEMAND" Aggregate Demand 13 at the Gold Rush" demand effect production?
The Demand Curve 8 How does the laws of supply &
Unit 3, Section 1 Shifts in the Demand Curve 8 http://www.econedlink.org/lessons/ demand effect pricing?
Understanding The Law of Demand Role of Price in Market System 8 index.cfm?lesson=EM328
Price Determinants 8
TLW understand the law of demand Price Stability 8 Case Study: Enron
Price Floors 8
Unit 3, Section 2 Price Ceilings 8 http://boards.abcnews.go.com/cgi/
Shifts in the Demand Curve Role of Competition 9 abcnews/request.dll?LIST&room=bz_enron
Elasticity of Demand 8
TLW graph a demand curve Inelastic Demand 8
Factors of Production 14
Unit 3, Section 3 Law of Supply 8
Elasticity of Demand Aggregate Supply 13
The Supply Curve 8
TLW explain elasticity of demand Elasticity of Supply 8
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Regional Collaborative Technology & Business Personal Finance Curriculum Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
8
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,
Costs of Production 14
Unit 3, Section 4 Marginal Returns 14
Understanding Supply Economies of Scale 14
Changes in Supply & Demand 13
Unit 3, Section 5 Input Costs 13
Costs of Production Input Costs 13
Influences 13
Unit 3, Section 6 Labor 13
Changes in Supply & Demand Distribution 13
Pricing 13
Unit 3, Section 7 Combining Supply & Demand 13
Prices Balancing the Market 13
Market Equilibrium 13
Unit 3, Section 8 Market Disequilibrium 13
Changes in Market Equilibrium Analyzing Shifts 13
The Role of Prices 13
Unit 3, Section 9 The Role of Prices in a Free Market 13
The Role of Prices Efficient resource Allocation 13
District Curriculum Instructional Strategies
Topics Concepts Standards Activities Assessments Resources Essential Questions
UNIT 4 (WEEK 5) Gross Domestic Product (GDP) 18 Case Study: "Stagflation in the 1970's" How can you compare different
BUSINESS CYCLES What Factors Influence GDP? 18 countries economic productivity?
Calculating GDP 18 http://ideas.repec.org/p/fth/michin/ What factors influence GDP?
Unit 4, Section 1 Real GDP 18 452.html
Gross Domestic Product (GDP) Nominal GDP 18
Business Cycles 18
TLW calculate GDP Phases of the Business Cycle 18
Fluctuations 18
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Regional Collaborative Technology & Business Personal Finance Curriculum Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
9
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,
Unit 4, Section 2 Economic Growth 15
Business Cycles Measuring Economic Growth 15
Productivity 15
TLW understand economic phases "Real" Vs. "Nominal" Growth 15
Economic Challenges 19
Unit 4, Section 3 Employment 18
Economic Growth Unemployment 19
Inflation 19
TLW measure economic growth Consumer Price Index (CPI) 19
Standard of Living 15
Unit 4, Section 4 Hyperinflation 19
Economic Challenges "Stagflation" 19
Deflation 19
Unit 4, Section 5 Poverty 19
Inflation Poverty Rate 19
Income Distribution in the U.S. 19
Unit 4, Section 6 Incentives 15
Poverty Taxes 20
District Curriculum Instructional Strategies
Topics Concepts Standards Activities Assessments Resources Essential Questions
UNIT 5 (WEEKS 6 - 7) Taxes & Government Spending 16 Case Study: "Reaganomics" What is the Federal Reserve Bank?
MONETARY & FISCAL POLICY Federal Taxes 16 Why do governments tax?
Income Taxes 16 http://www.econlib.org/library/Enc/
Unit 5, Section 1 Corporate Taxes 16 Reaganomics.html
Taxes & Government Spending Social Security Taxes 16
Medicare Taxes 16
TLW understand why gov't taxes Unemployment Taxes 16
Federal Spending 20
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Regional Collaborative Technology & Business Personal Finance Curriculum Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
10
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,
Unit 5, Section 2 State Taxes 16
Federal Taxes Local Taxes 16
Economic Stimulus 20
TLW understand the diff Fed taxes Economic Manipulation 20
Fiscal Policy 20
Unit 5, Section 3 Role of Government 16
Federal Spending Federal Budget 20
OMB 20 TLW understand the budget process Budget Process 20
Expansionary & Contractionary Fiscal Policy 20
Unit 5, Section 4 Coordinating Fiscal Policy 20
State & Local Taxes Fiscal Policy Options 20
Classical Economics 20
Unit 5, Section 5 Keynesian Economics 20
Understanding Fiscal Policy Supply-Side Economics 20
Budget Deficits 20
Unit 5, Section 6 National Debt 20
Fiscal Policy Options Taxes & Government Spending 20
Balancing the Budget & a Surplus 20
Unit 5, Section 7 The Federal Reserve System 20
Budget Deficits & The National Debt Central Banking System 20
Banking History 20
Unit 5, Section 8 Structure of the Federal Reserve 20
The Federal Reserve System Federal Reserve Functions 20
The Journey of a Check 20
Unit 5, Section 9 Regulating the Banking System 20
Federal Reserve Functions Regulating the Money Supply 20
Monetary Policy Tools 20
Unit 5, Section 10 Money Creation 20
Monetary Policy Tools Reserve Requirements 20
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Regional Collaborative Technology & Business Personal Finance Curriculum Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
11
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,
Discount Rate 20
Unit 5, Section 11 Open Market Operations 20
Monetary Policy "Tight" & "Loose" Money Policy 20
District Curriculum Instructional Strategies
Topics Concepts Standards Activities Assessments Resources Essential Questions
UNIT 6 (WEEK 8) Market Structures 9, 8 How does the role of competition
MARKET STRUCTURES Perfect Competition 9 insure free enterprise?
Barriers to Entry 9 What is a monopoly?
Unit 6, Section 1 Monopoly 9
Perfect Competition Government Monopolies 9
Price Discrimination 9
Unit 6, Section 2 Price Fixing 9
Monopoly Monopolistic Competition 9
Oligopoly 9
Unit 6, Section 3 Regulation 9 Monopolistic Competition & Oligopoly Deregulation 9
District Curriculum Instructional Strategies
Topics Concepts Standards Activities Assessments Resources Essential Questions
Money, Banking & Finance
UNIT 7 (WEEK 9) Money & banking 10 What is money?
MONEY & BANKING Money 10 What is the history of banking?
What is Money? 10 What are the different types of
Unit 7, Section 1 Uses of Money & Currency 10 savings institutions?
Money Banking History 10 How do banks make a profit?
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Regional Collaborative Technology & Business Personal Finance Curriculum Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
12
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,
Shifts in the Banking System 10
TLW explain the uses of money Banking Stabilization 10
Modern Banking 10
Unit 7, Section 2 Measuring the Money Supply 10
The History of American Banking Banking Services 10
How Banks Make a Profit? 10
TLW know how banks make a profit Types of Financial Institutions 10
Electronic Banking 10
Unit 7, Section 3 Credit Unions 10
Banking Today Savings & Loan 10
District Curriculum Instructional Strategies
Topics Concepts Standards Activities Assessments Resources Essential Questions
UNIT 8 (WEEK 10) Financial Markets 10 Guest Speaker: Banker What is a stock?
FINANCIAL MARKETS Saving & Investing 11 What is a bond?
Risk & Return 11
Unit 8, Section 1 Return On Investment (R.O.I.) 11
Saving & Investing Payback 11
Stocks & Bonds 11
TLW understand risk & return Financial Assets 11
Types of Bonds 11
Unit 8, Section 2 Bond Ratings 11
Bonds & Other Financial Assets The Stock Market 11
Buying Stock 11
TLW calculate R.O.I. Types of Stock 11
Stock Splits & Stock Risks 11
Unit 8, Section 3 Futures & Options 11
The Stock Market Stock Exchanges 11
-
Regional Collaborative Technology & Business Personal Finance Curriculum Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
13
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,
District Curriculum Instructional Strategies
Topics Concepts Standards Activities Assessments Resources Essential Questions
UNIT 9 (WEEK 11) Business Organizations 10 How to incorporate?
BUSINESS ORGANIZATIONS Sole Proprietorships 10 What are the tax advantages
Characteristics of Proprietorships 10 of a S Corporation?
Unit 9, Section 1 Advantages of Proprietorships 10
Sole Proprietorships Partnerships 10
Types of Partnerships 10
TLW learn how to incorporate Advantages of Partnerships 10
Disadvantages of Partnerships 10
Unit 9, Section 2 Corporations 10
Partnerships Types of Corporations 10
Advantages of Corporations 10
TLW understand partnerships Disadvantages of Corporations 10
Mergers 10
Unit 9, Section 3 Acquisitions 10 Corporations, Mergers, & Multinationals Multinationals 10
Franchises 10
Unit 9, Section 4 Cooperatives 10
Other Organizations Nonprofit Organizations 10
District Curriculum Instructional Strategies
Topics Concepts Standards Activities Assessments Resources Essential Questions
UNIT 10 (WEEK 12) Personal Finance 13 How do I create a budget?
PERSONAL FINANCE Personal Financial Systems & Skills 13 How can I better manage my
Saving 11 personal finances?
Personal Financial Systems & Skills Investing 11
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Regional Collaborative Technology & Business Personal Finance Curriculum Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
14
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,
Banking Systems 11
Unit 10, Section 1 Budgeting 13
Saving & Investing Financial Planning 13
Income & Expenses 14
TLW apply financial systems Debt Management 13
to every day life Credit 13
Mortgages 13
Unit 10, Section 2 Loans 13
Budgeting & Financial Planning Federal Taxes 14
State Taxes 14
Unit 10, Section 3 Personal Taxes 13
Taxation
District Curriculum Instructional Strategies
Topics Concepts Standards Activities Assessments Resources Essential Questions
UNIT 11 (WEEK 13) Insurance What is insurance?
INSURANCE Personal Insurance Why do I need insurance?
Life Insurance
Unit 11, Section 1 Health Insurance
Personal Insurance Auto Insurance
Disability Insurance
Unit 11, Section 2 Business Insurance
Business Insurance Homeowner's Insurance
Unit 11, Section 3
Homeowner's Insurance
-
Regional Collaborative Technology & Business Personal Finance Curriculum Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
15
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,
District Curriculum Instructional Strategies
Topics Concepts Standards Activities Assessments Resources Essential Questions
UNIT 12 (WEEK 14) Consumer Powers How is the consumer protected?
CONSUMER EDUCATION Consumer Protection What does "Caveat Emptor" mean?
Business Law
Unit 12, Section 1 Consumer Management Skills
Consumer Powers & Protection Consumer Credit
Responsible Choices
Unit 12, Section 2 "Caveat Emptor"
Consumer Management Skills
Unit 12, Section 3
Responsible Choices
Career Decisions
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Regional Collaborative Technology & Business Personal Finance Curriculum Aligned to the New Jersey Core Content Curriculum State Standards
ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS
16
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,