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Katy McDonald CEP 811 March 28, 2010 Web Quest Design Teacher/Design Information 1. Learners – This WebQuest is designed for a high school Alternative Education Economics class. The learners in this class may range from grade nine to grade twelve and may have a variety of strengths, weaknesses, and educational backgrounds. Though many of the learners have been referred to an Alternative Education setting, typically, it is for behavioral issues rather than academic ones. In other words, the students are fully capable of accomplishing academic goals, but their behavior is often the road block to that accomplishment. This WebQuest could also be used in a High School Personal Finance class. 2. Goal – There are two main goals of this WebQuest. The first goal is for students to practice their use of the decision-making model in a real life task. The second goal is to expose students in a low socio-economic area to the idea of saving and investing for the future. Students will be asked to create a PowerPoint presentation to show what they have learned and demonstrate the accomplishment of these goals. 3. Standards – By completing this WebQuest, students will have met the following Michigan High School Content Expectations: a. E1.1.1 Scarcity, Choice, Opportunity Costs, and Comparative Advantage b. E1.1.2 Entrepreneurship c. E1.2.2 Price in the Market d. E4.1.3 Personal Finance Strategy e. E4.1.4 Key Components of Personal Finance f. E4.1.5 Personal Decisions g. E4.1.6 Risk Management Plan 4. Process – Students will be asked to complete this WebQuest as a final project in an Economics or Personal Finance class. Students will be asked to create a savings plan and an investment portfolio that includes a variety of stocks, bonds, and perhaps mutual funds. Prior to starting the WebQuest, the class will or should have covered key concepts related to savings and investment including interest, different types of savings accounts, stocks, bonds, and mutual funds. Students will be asked to make their decisions based on an entry level position in the field of their choice. Students will be asked to: a. Research entry level positions, salaries, and benefits b. Create a personal budget c. Create a savings plan d. Research and create an investment portfolio e. Determine how much money they could save or invest in a period of 5 years, 10 years, and 20 years 5. Resources - Students will need the following resources to complete the WebQuest: a. Economics: Principles and Practices textbook b. Internet access c. Websites including but not limited to: Site Can You be the Next Market Guru? (Part 1) Can You be the Next Market Guru? (Part 2) Can You be the Next Market Guru? (Part 3) New York Stock Exchange Made Easy by EconEdLink Career One Stop Address http://www.econedlink.org/lessons/popup.php?lesson_numb er=333&flash_name=main.swf http://www.econedlink.org/lessons/popup.php?lesson_numb er=334&flash_name=main.swf http://www.econedlink.org/lessons/popup.php?lesson_numb er=335&flash_name=main.swf http://www.econedlink.org/lessons/popup.php?lesson_numb er=292&flash_name=em292_interactive.swf http://www.careeronestop.org/ Career Overview U.S. Department of Labor Google Finance http://www.careeroverview.com/salary-benefits.html Qwoter http://www.qwoter.com/ Money Central http://moneycentral.msn.com/home.asp Edustock http://library.thinkquest.org/3088/ Big Charts http://bigcharts.marketwatch.com/default.asp?siteid=&avatar =seen&dist=ctbc Investor Guide http://www.investorguide.com/ d. e. f. g. h. http://data.bls.gov:8080/oes/search.jsp http://www.google.com/finance?hl=en&tab=we Decision Making Grid Microsoft Word Personal budget template on Microsoft Excel Microsoft PowerPoint Videos i. Investing in Plain English by www.commoncraft.com found at http://www.youtube.com/watch?v=8QvW1XETz2g ii. How to Budget Personal Finances : Personal Budget Tips by Expert Village found at http://www.youtube.com/watch?v=GI_l7c94yJY&feature=related WebQuest Elements 1. Title: Earn It, Save It, Invest It! o Subject Matter: Budgeting, saving, and investing o Author: Katy McDonald 2. Task – You have learned many skills this semester that you will be able to use in the future. But why wait? Let’s put those skills to use so you can see where your future plans can take you! You will use a series of videos, interactives, and websites to help you complete all of the following: Choose an entry level job and research its salary and benefits. Create a budget based on the entry level job you have found using real figures. Determine how much money you can potentially save or invest each month. Create an investment portfolio of stocks, bonds, and mutual funds. Determine how much money you could potentially save and/or invest in 5 years, in 10 years, and in 20 years. 3. Process – You will be given 10 class periods or 2 weeks to complete this final project. You will see that I have broken down the project into smaller chunks. Please complete the steps in order, as they will help you in your decision making process. I will guide you and help you along the way, of course! o Day 1 – Job search and job research. Use the career websites like the U.S. Department of Labor, Career One Stop, and Career Overview to research a job or career you are interested in after graduation. If you plan on going to college, choose an entry level job in the career you plan to begin after college. If you are not planning to go to college, please remember that your job and/or career choices will be limited. For example, please do not tell me you will be a Construction Manager or Engineer without any education after high school. Consider what human capital you have when looking for jobs you are qualified for. Find at least 3 job postings in the area in your desired field. After you have researched your job/career, write a one page summary in Microsoft Word. In your summary, make sure to answer the following questions: 1. What is the job/career/position you are interested in? 2. Why are you interested in it? 3. Describe the job postings you found in the area. 4. What is the starting salary or starting wage? 5. Does the job have benefits? If so, what benefits? If not, what benefits will you need to find on your own? o Day 2 – Find a car and a place to live. Use the internet to find a car you can afford and a place to live you can afford. Be realistic! For example, do not tell me you plan on buying a brand new Escalade when your entry-level job pays ten dollars an hour. Also, I do not want you to plan to live at home. Everyone needs to budget for their own car and their own place to live. Write a short summary of your findings for today in Microsoft Word. Explain the choices you made. Provide links to the ads for the vehicle and housing. o Day 3 – Create your budget. Create your monthly budget in Microsoft Excel. Please use the template provided. You may make changes as necessary. o Days 4 -5 – Can You be the Next Market Guru? Complete the three part interactive called Can You be the Next Market Guru? Parts One, Two, and Three. Answer the questions that follow in a Word document. Then write a paragraph summarizing what you have learned about investing. They are located at: 1. http://www.econedlink.org/lessons/popup.php?lesson_number=333&fl ash_name=main.swf o Explain how trying to predict stock prices is like flipping a coin. Use an example from the interactive to help you in your explanation. 2. http://www.econedlink.org/lessons/popup.php?lesson_number=334&fl ash_name=main.swf o Keep track of your progress. What were you able to do with the $100 you started out with? o If you had made all the right decisions, how much would you have ended up with? 3. http://www.econedlink.org/lessons/popup.php?lesson_number=335&fl ash_name=main.swf o Keep track of your progress. What were you able to do with the $100 you started out with? o If you had made all the right decisions, how much would you have ended up with? 4. Complete the online quiz at New York Stock Exchange Made Easy by EconEdLink and email your results to me at [email protected] The link for the quiz is at: http://www.econedlink.org/lessons/popup.php?lesson_number=292&flash_n ame=em292_interactive.swf o Days 6 – 10 Begin Virtual Investment Decide how much you would like to invest based on your budget. Research the companies you are investing in. What do they do? How successful have they been in the past? What is important to know about the company? Complete the decision making grid using at least 5 different companies. It is your choice which criteria you will choose to compare them on. For example, you may compare price, but maybe you would rather compare the 52 week high. The criteria on which you judge the stocks is entirely up to you. You may work with a partner to create a list of criteria for your decision making grid. Create an Excel document to track your stocks for at least the next several days. o Day 6-10 – Predict and Analyze Your Outcomes o Now use your Excel document to calculate the following: How much money would you gain if you sold at the 52-week high price? How much money would you lose if you were forced to sell at the 52-week low price? Now, figure how much interest you could have earned if you had placed the money you spent on stocks in a savings account for one year? How much interest would you have earned if you had put the money in a savings account for five years? Ten years? Twenty years? You might find the compound interest calculator from EconEdLink helpful with this. Now, in a Word document, write an essay explaining if you feel investing in the stocks would be worth the risk. Take into consideration the amount you had decided to invest/save and the amount of money you have leftover at the end of every month. Finally create a PowerPoint presentation outlining all of the decisions you made during this project. Use the presentation to explain the reasoning behind all of your decisions. The PowerPoint should include the following: 1. Your job 2. Your car – include a picture 3. Your housing – include a picture 4. Your budget 5. The stocks you looked at investing 6. Whether you decided to save or invest your money and why. 4. Evaluation – The following rubric will be used to score your work on this WebQuest. (Rubric will be attached as an Excel document in the portfolio. 5. Conclusion – Thank you for completing Earn It, Save It, Invest It! From this WebQuest, I hope that you have developed a better sense of your financial life after graduation. I hope you now have a better understanding of the decisions you will have to make in order to support yourself and maintain a balanced budget. Hopefully, when all is said and done, you now have the tools to know how to save and invest your money wisely. 6. Credits – Created by Katy McDonald, Pearson Education Center, [email protected] with help from the following: EconEdLink U.S. Department of New York Stock Labor Exchange Made Google Finance Easy by Edustock MSN Money EconEdLink Qwoter Commoncraft.com Investor Guide Expert Village Big Charts Thinkfinity