Download Mohawk High school - Mr. Stobbs` Virtual Economics Classroom

Mohawk High School Lesson Plan
Economics for the 21st Century
Grade 11, 12 Mr. Stobbs
H113 Periods 2, 6/7, 9
Lesson Plan (Unit 1): Introduction to Personal Finance and Economics – Foundations in
Personal Finance.
Date(s):11/03/2014 – 11/07/14
Topic – Financial Responsibility and Money Management: responsible personal
financial decisions are based upon reliable information and used to reach personal
goals.
Topic – Fundamentals of Economics: Productive resources are limited and allocated
in a variety of ways. An efficient way to allocate productive resources is through
markets.
Content Statements:



Financial decision-making involves considering alternatives by considering costs
and benefits.
A personal financial plan includes financial goals and a budget, including
spending on goods and services, savings and investments, insurance and
philanthropy.
Different payment methods have advantages and disadvantages.
Objectives, Topic 1: At the end of this unit, students should be able to:
 Generalize on the history of credit in America.
 Explain the financial reality of the financial reality of the typical American amily.
 Predict how personal financial skills can influence a person’s financial future.
Objectives, Topic 2: At the end of this unit, students should be able to:
 Define and discuss the concept of scarcity in their daily lives.
 Explain the concept of opportunity cost.
 Explain and give examples of how individuals make economic decisions.at the
margins.
 Explain and give examples of the role that incentives play in their economic lives.
Objectives, National Voluntary Content Standards in Economics:
 Financial Responsibility and Decision making:
o 1. Take responsibility for personal financial decisions.
o 4. Make financial decisions by systematically considering alternatives
and consequences.
o 5. Develop communication strategies for discussing financial issues.
 Credit and debt:
o 1. Identify the costs and benefits of various types of credit.
Objectives, Federal Reserve EconLowdown:












Identify key reasons to save.
Recognize opportunity costs to both saving and spending.
Recognize the power of compound interest for increasing savings balances over
time.
Use the Rule of 72 to calculate compound interest.
Recognize that interest rates create incentives for lenders and borrowers.
Explain the role of financial intermediaries and financial markets.
Explain the difference between stocks and bonds.
Explain how the supply of and demand for loanable funds determines interest
rates.
Recognize that national savings equals investment in a closed economy.
Explain the paradox of thrift.
Recognize that the U.S. Government finances deficit spending through the sale
of U.S. Treasury securities.
Explain that government debt can crowd out the supply of loanable funds and
affect interest rates.
Time Period (this plan): 5 class periods
Materials:
 Text: Thirty-Second Economics
 Text: Foundations in Personal Finance
 Syllabus
 White Board, Computer, Voice Amplifier
 Student Notebooks and pens, pencils
 Calculators
 Handouts: See individual activity plans for additional day-to-day requirements
 Student access after school or during study hall to Internet required.
Assessment:
 Pre-post tests
 Homework and practice sets
 Exercises
 Quiz
 Whole-class discussion
 Oral probes
 Case studies
2
CARRIED OVER HOMEWORK: NONE
1. COMPLETE Case Studies for Chapter One:
a. Each team will be assigned a different case number: there may be
repeats, depending on class size. Your team will have the opportunity to
review all members’ answers, synthesize them into one “best” answer,
and present it to the entire class.
b. Compose your answers in constructed responses (complete sentences).
DUE Monday, November 3.
2. At EconLowdown, COMPLETE the “Soar to Savings” lesson pre-test, lesson,
and post-test BY MIDNIGHT, NOVEMBER 9.
NEW HOMEWORK:
1. In Thirty-Second Economics, read pages 78 and 79. Then, in an essay, describe
how you might combine the information in this reading with the advice offered by
David Ramsey to help improve your financial future. Guiding questions: What
can you do to grow your own human capital? Are “passion” and “profit” mutually
exclusive concepts or can you pursue your passion and still be financially
profitable? Given the answer to your previous capital, what would Dave Ramsey
say you should do to finance that investment? You will only be eligible to earn
Flamingos for this assignment if you type it following syllabus rules. DUE:
FRIDAY, November 7.
Procedure: October 27– 31
Monday:
1. EXERCISE: Case Study Analysis / Synthesis
a. Teams (or “super teams”) review completed case studies to create a
synthesized “best answer.”
b. Team spokesmen present solutions.
c. Discuss solutions.
d. Have team leaders assemble packets – synthesis on top, individual
contributions on the bottom, for turn-in and grading.
Tuesday:
1. Begin Chapter Two of Foundations in Personal Finance.
a. Distribute work books.
b. Review learning outcomes and key terms.
c. Complete the “Before” section on Page 31.
d. Complete and review the journaling question on page 31.
3
Wednesday: SUBSTITUTE
1. Distribute laptops.
2. Have students access the web site foundationsU.com (no www!) and find the
online investing calculator. Allow them to familiarize themselves with it for a few
minutes.
3. Distribute “Saving: A Way to Build Wealth” work sheets.
4. Task students to complete the “Saving: A Way to Build Wealth Exercise” IN PEN.
5. Collect at the end of class.
Thursday:
1.
Begin Chapter Two videos.
Friday:
1. Continue Chapter Two videos.
4