Download Personal Finance - Carl Junction Schools

Personal Finance
Business
Grade(s) 10th - 12th, Duration 1 Semester, .5 Credits
Required Course
Course Overview
The Business/Professional Technology curriculum is to prepare students for success in the global/economic system of the 21st
Century. Emphasis is on problem-solving techniques, hands-on experiences with various technologies, the ability to adapt to different
situations and demonstrate workplace behavior skills, personal responsibility and ethics. In addition, business concepts and skills are
integrated with other academic content.
Course Rationale
PERSONAL FINANCE: Personal Finance is a course designed to help students understand the impact of individual choices on occupational
goals and future earnings potential. Real world topics covered will include income, money management, spending and credit, as well as saving
and investing. Students will design personal and household budgets; simulate use of checking and savings accounts; demonstrate knowledge of
finance, debt and credit management; and evaluate and apply insurance and taxes. This course will provide a foundational understanding for
making informed personal financial decisions. (One-half credit, one-semester practical art floating requirement for grades 10-12.)
Learning Targets
1. Recognize financial choices and apply goals and decision making skills.
1a. Explain the rationale for financial literacy.
1b. Explain how sound financial decsions can increase a person's standard of living and wealth.
1c. Identify goals for the future.
1d. Recognize that choices made today will affect goal attainment. 1e. Apply the economic way of thinking to improve money management skills that affect an individual's or family's standard of living.
2. Examine characteristics, interest, skills to identify and plan career goals.
2a. Define resources.
2b. Evaluate resources students posess.
2c. Analyze the relationship between education and potential income using economic reasoning.
2d. Examine personal characteristics to determine interests, skills and knowledge related to career choices.
2e. Establish career goals.
2f. Outline steps required to reach career goals.
3. Students will prepare and implement a budget.
3a. Explain how scarcity affects economic decisions.
3b. Construct a plan to achieve financial goals.
Course Summary
Carl Junction R-I School District, MO
Page 1
11/17/2015 02:11 PM
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Personal Finance
Business
Grade(s) 10th - 12th, Duration 1 Semester, .5 Credits
Required Course
3c. Examine current saving and spending behaviors and patterns.
3d. Develop a budget.
4. Students will identify wages, deductions, benefits, and tax forms in relation to earning money.
4a. Identify key terms such as gross pay, net pay, deductions and benefits.
4b. Explain the types of benefits provided by employers.
4c. Distinguish between required and optional deductions.
4d. Identify tax forms.
5. Identify and examine various banking services and preparing personal banking documents.
5a. Identify deposit, credit and investment services offered by commercial banks, savings and loans, credit unions and brokerage firms.
5b. Compare checking accounts from different institutions.
5c. Prepare the following forms related to opening and maintaining a checking account: -application form -deposit ticket -check -check register -monthly account statement (read and reconcile) 5d. Differentiate among various types of electronic banking services.
5e. Examine the role of the Federal Reserve.
6. Distinguish characteristics of saving and investing options.
6a. Identify the opportunity cost of spending and saving.
6b. Recognize financial investments as options for savings.
6c. Examine the advantages of compounding.
6d. Predict how much savings will be needed to achieve goals.
6e. Describe five types of financial investment risk.
6f. Describe the relationship between financial investment risk and return.
Course Summary
Carl Junction R-I School District, MO
Page 2
11/17/2015 02:11 PM
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Personal Finance
Business
Grade(s) 10th - 12th, Duration 1 Semester, .5 Credits
Required Course
6g. Distinguish between real and nominal rate of return.
6h. Summarize how inflation affects spending and saving decisions.
6i. Compare the characteristics of several financial investments, including savings accounts, stocks, bonds, mutual funds and real estate.
6j. Explain how interest rates are determined.
6k. Compare the features of savings accounts among financial institutions.
6l. Identify the trade-offs related to various financial investment options. 6m. Distinguish between primary and secondary markets.
6n. Identify the costs and benefits of trading stock.
6o. Explain the role of brokers.
6p. Examine how investors are protected by agencies that regulate financial markets.
7. Compare the advantages and disadvantages of credit.
7a. Differentiate between debit and credit cards and cash.
7b. Analyze the costs and benefits of various methods of payment.
7c. Define credit and interest.
7d. Compare the advantages and disadvantages of using credit.
7e. Explain the opportunity cost of using credit.
7f. Describe the rights and responsibilities of buyers and sellers under consumer protection laws.
7g. Identify types of credit and their common forms.
7h. Compare types of loans from different financial institutions.
7i. Identify the qualities a lender looks for in a loan applicant.
7j. Analyze a credit report and FICO score.
Course Summary
Carl Junction R-I School District, MO
Page 3
11/17/2015 02:11 PM
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Personal Finance
Business
Grade(s) 10th - 12th, Duration 1 Semester, .5 Credits
Required Course
7k. Explain the factors that determine the cost of credit.
7l. Calculate finance charges using different interest rates.
7m. Analyze the relationship among the finance charges, principal of the loan, and the loan repayment period. 7n. Compare credit cards in terms of annual fee, annual percentage rate, grace period and credit limit.
7o. Propose ways to avoid or correct credit problems.
8. Analyze the rights and responsibilities of consumers.
8a. Evaluate consumer purchases/agreements using the Problem, Alternatives, Criteria, Evaluate, Decide (PACED) decision-making model.
8b. Analyze how advertising influences consumer decision making.
8c. Analyze the rights and responsibilities of consumers in the marketplace.
8d. Evaluate the costs and benefits of buying, leasing or renting.
8e. Analyze financing options of consumer purchases.
8f. Evaluate various forms of insurance coverage.
Course Summary
Carl Junction R-I School District, MO
Page 4
11/17/2015 02:11 PM
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