Economics and Personal Finances Course Syllabus
Instructor: Mrs. Vickie Lilley
Wilson Memorial High School
189 Hornet Road
Fishersville, VA 22939
Textbooks/Materials: The Commonwealth of Virginia Board of Education Curriculum Framework and Take Charge of America Non-Profit Credit Counseling reproducible activity units covering a variety of topics to supplement the state competencies will be used as well.
Grade Levels: 10, 11, and 12.
Prerequisites: Digital Applications not required, but helpful.
Hardware: Networked HP computers; Laser Printer; InkJet Printer
Software: Windows, Microsoft Office 2016, Office 365, Blackboard Learn™ Release 9.1 SP6 (9.1.60230.0), Google Classroom, Canvas, Virtual Business - Personal Finance Simulation from Knowledge Matters
Description: Students learn how economies and markets operate and how the United States economy is interconnected with the global economy. Additionally, they learn how to navigate the financial decisions they must face and to make informed decisions relating to career exploration, budgeting, banking, credit, insurance, spending, financing post-secondary education, taxes, saving and investing, buying/leasing a vehicle, and living independently. They also learn the importance of investing in themselves in order to gain the knowledge and skills valued in the marketplace. Development of financial literacy skills and an understanding of economic principles will provide the basis for responsible citizenship, more effective participation in the workforce, and career success.
Throughout this course, students will learn:
- Personal goals and values are the foundation of personal finance.
- Invest in yourself (human capital).
- There is an ongoing association between your present self and your future self.
- The value of money changes over time.
- Compound interest makes savings work for you and borrowing work against you.
- Opportunity costs and tradeoffs are inherent in every decision you make.
- Risk and return are inherent in financial investing.
- Take steps to protect yourself from the unexpected (fraud, insurance, etc.).
- What you look like on paper (credit report, spending plan, etc.).
Expectations of Students: Excellent attendance, prompt arrival to class, good attitude, good manners, good classroom behavior, good work ethic, willingness to learn, ability to read and follow directions, ability to work independently, completion of all computer assignments at school.
- Course Introduction—3 Days
- Rules/Class Structure
- Introducing the Class
- Unit One: Take Charge of Your Financial Well-Being—10 Days
- Money in Your Life
- Financial Decisions
- Setting Financial Goals
- Unit Two: Economics and Economic Decisions—12 Days
- Trade-offs and Opportunity Costs
- Three Basic Economic Questions
- Economic History: Adam Smith Macroeconomics and Microeconomics
- The U.S. Economy: Choices, Markets, and Incentives
- Households vs. Firms
- Costs and Benefits of Exchange
- Sole Proprietorship, Partnership, and Corporation--Advantages and Disadvantages
- Private Enterprise--Entrepreneurship/Risks
- Cost/Revenue vs. Profit
- Unit Three: Managing Your Money—10 Days
- Introduction to Depository Institutions
- The Basics of Taxes
- Statement of Financial Position
- Income and Expense Statement
- Spending Plans
- Unit Four: Earning—10 Days
- Invest in Yourself
- Career Exploration
- Lifelong Employment
- Getting Paid
- Unit Five: Receiving—10 Days
- Receiving from Family, Friends, and Non‐profits
- Receiving from Government Programs
- Unit Six: Saving and Investing—10 Days
- Choose to Save
- Savings Tools
- The Fundamentals of Investing
- Unit Seven: Spending (includes protecting and borrowing)—10 days
- Credit Reports and Scores
- Credit Basics
- Understanding Credit Cards
- Protecting Yourself from Fraud: Identity Theft
- Types of Insurance
- Smart Consumer Spending
- Major Expenditures: Housing, Transportation, and Food
- Unit Eight: Distribution of Wealth—10 days
- Giving to Others
- Estate Planning
- Unit Nine: Authentic Assessment—10 days
- "Life in…US"
- Grades in this class will be calculated using a 100-point numerical scale. Classwork and tests will be given a numerical grade between 1 and 100.
- Classwork must be turned in within a week of when the assignment is given to receive full credit. All classwork must be turned a week before grades are due. Students will be notified of all deadlines. Assignments not turned in will receive a zero (0).
- All assignments fall under three categories and are given the following weight at the end of the grading period:
- 50% Major Assessments (Summative)
- Includes all tests and some major classwork assignments
- 40% Minor Assessments (Formative)
- Includes remaining classwork assignments
- 10% Practice/Participation
- Includes Class Attendance & Participation plus Bell Work assignments
- 50% Major Assessments (Summative)
- Note: Extra credit opportunities may be available
- A letter grade will be given using Augusta County’s standard as follows:
- Since this class does not have an SOL Test, an appropriate end-of-course examination will be taken. Students may exempt the end-of-course examination by…
- Meeting the attendance requirement of no more than five (5) absences AND
- Achieving a final average of 90 or above
- In the case of an exam exemption, an exam grade of “No Mark” will be entered.
- The final course grade will be computed by averaging the numeric grades from each grading period.
Class Attendance and Participation
- Actively participating in the class involves listening to and following all of the instructor’s directions, taking notes, not disturbing those around you, and staying on task throughout the class period.
- Bad attitudes, not keeping the room clean, and putting materials away improperly will also result in lost points.
- Attendance is very important due to the fact that class work cannot easily be made up at home. If you need to be absent, please see me the day you return to get your assignments. The lab is open from 7:45 - 8:17 AM. Additional times may be arranged if necessary.
Special Opportunity: DECA
DECA, the co-curricular student organization for Marketing, provides many opportunities through its program of work for students to apply the knowledge, skills, and processes learned in a variety of courses. The purposes of DECA's program of competitive events are as follows:
- To contribute to the development of skills necessary for careers in marketing, merchandising, management, and entrepreneurship
- To evaluate student achievement of the skills through careful measurement devices (performance indicators)
- To provide opportunities for student and team recognition
- To provide constructive avenues for individual or team expression, initiative, and creativity
- To motivate students to assume responsibility for self-improvement and self-discipline
- To provide a vehicle for students to demonstrate (via performance indicators) their acquired skills through individual or team activities
- To assist students in acquiring a realistic self-concept through individual and team activities
- To help students participate in an environment of cooperation and competition
- To provide visibility for the educational goals and objectives of marketing education.
Common Skills Developed When Participating in DECA Events
- Communication skills—The ability to exchange information and ideas with others through writing, speaking, reading, or listening
- Analytical skills—The ability to derive facts from data, findings from facts, conclusions from findings, and recommendations from conclusions
- Critical thinking and problem-solving skills
- Production skills—The ability to take a concept from an idea and make it real
- Teamwork—The ability to plan, organize, and conduct a group project
- Priorities/time management—The ability to determine priorities and manage time commitments
- Assessment skills—The ability to evaluate presentations
DECA partners with many business organizations and looks excellent on resumes! Finish Line, JC Penny, and other retail stores use DECA as their training grounds for future employees! They also offer scholarships to DECA students.
How to Join DECA
- Pay the $20 dues to Mrs. Lilley by November 1st!
- $8 Goes to State
- $7 Goes to National
- $5 Stays in Activity Account to help fund club activities.
For additional information about the student organization, contact DECA, Inc., 1908 Association Drive, Reston, VA 20191, phone (703) 860-5000, FAX (703) 860-4013. See the DECA, Inc. home page at http://www.deca.org and the Virginia DECA home page at http://www.vadeca.org.
State of Virginia Vocational Competencies and Local Objectives
The course is fully compliant with the Virginia Standards of Learning for Economics and Personal Finance. Detailed descriptions of tasks for each competency are available at http://www.cteresource.org/verso/courses/6120/economics-and-personal-finance-tasklist.