Standard ECON-1: The student will demonstrate an understanding of how scarcity and choice impact the economic activity of individuals, families, communities, and nations.
IndicatorsECON-1.1 Illustrate the relationship between scarcity—limited resources and unlimited human wants—and the economic choices made by individuals, families, communities, and nations, including how families must budget their income and expenses, how people use psychological and intellectual resources to deal with scarcity, and how local political entities as well as nation-states use scarce resources to satisfy human wants. (E, G)ECON-1.2 Explain the concept of opportunity costs and how individuals, families, communities, and nations make economic decisions on that basis, including analyzing marginal costs and marginal benefits and assessing how their choices may result in trade-offs. (E)
ECON-1.3 Compare the four key factors of production—land, labor, capital, and entrepreneurship—and explain how they are used, including the specialization and division of labor that permits efficient use of scarce resources. (E, G)Standard ECON-2: The student will demonstrate an understanding of markets and the role of supply and demand in determining price and resource allocation.
IndicatorsECON-2.1 Explain the law of supply and demand, including the relationships of critical determinants (e.g., consumer income, tastes, and preferences; technology; the price of inputs) and the effects of change on equilibrium, price, and quantity. (E)
ECON-2.2 Explain the nature and role of competition in a market economy, including the determination of market price through competition among buyers and sellers and the conditions that make industries more or less competitive, such as the effect of domestic and international competition and the quality, quantity, and price of products. (E, G)
ECON-2.3 Explain economic incentives that lead to the efficient use of resources, including monetary and nonmonetary incentives, the ways in which people change their behavior in response to incentives, the relationship of incentives to the laws of supply and demand, and the role of private property as an incentive in conserving and improving scarce resources. (E)
ECON-2.4 Explain the effect of shortages and surpluses in a market economy, including the effect of price controls (ceilings and floors) in causing shortages or surpluses, changes in the price of products as a result of surplus or shortage, and market mechanisms for eliminating shortages and surpluses and achieving market equilibrium. (E)
Standard ECON-3: The student will demonstrate an understanding of the sources of income and growth in a free-enterprise economy.
IndicatorsECON-3.1 Compare personal income distribution and functional income distribution, including how distribution of income affects public policy. (E)
ECON-3.2 Explain the role of entrepreneurs in a market economy, including the costs and benefits of being an entrepreneur, the expectation of profit as the incentive for entrepreneurs to accept business risks, and the effect of changes in taxation and government regulation on entrepreneurial decisions. (E)
ECON-3.3 Explain the causes and effects of economic growth, including the relationship between investment in human resources and in real capital, the alleviation of poverty, the increase in standards of living, and the creation of new employment opportunities. (E) Standard ECON-4: The student will demonstrate an understanding of personal economic decision making to maximize the net benefits of personal income. IndicatorsECON-4.1 Summarize types of personal economic decisions and choices that individuals make, including determining how to budget money; establishing short- and long-term financial goals and plans related to income, saving, and spending; utilizing loans and credit cards; and considering investment options. (E)
ECON-4.2 Explain influences on personal economic decision making and choices, including the effect of education, career choices, and family obligations on future income; the influence of advertising on consumer choices; the risks and benefits involved in short- and long-term saving and investment strategies; and the effect of taxation and interest rates on household consumption and savings. (E) Standard ECON-5: The student will demonstrate an understanding of the various economic institutions of a market economy. IndicatorsECON-5.1 Compare the significant characteristics of a market economy with those of traditional and command economies, including differences in the roles of the government, individual firms, and households in decision making; types of economic institutions; the extent of consumer sovereignty/choice; and the role of private property rights, competition, and the profit motive. (E)
ECON-5.2 Analyze the roles of and relationships among economic institutions in a market economy, including the banking system and its interaction with business firms and consumers, the economic circular flow model, the function of financial and securities markets, and the impact of labor unions on the American economy. (E)
Standard ECON-6: The student will demonstrate an understanding of the roles that federal, state, and local governments play in the operation of markets in the United States. Indicators
ECON-6.1 Compare the various functions and roles of the government in the United States economy, including providing public goods, defining and enforcing property rights, correcting externalities and regulating markets, maintaining and promoting competition in the market, protecting consumers’ rights, and redistributing income. (E)
ECON-6.2 Summarize major sources of government revenue, including taxation at the federal, state, and local levels and tax revenues from personal income and payroll taxes, sales taxes, and property taxes. (E)
Standard ECON-7: The student will demonstrate an understanding of the national economy and economic policies in the United States. IndicatorsECON-7.1 Compare measures of economic health, including the gross domestic product, consumer price indexes, personal income, disposable income, rates of inflation and deflation, and unemployment rates. (E)
ECON-7.2 Explain the role of the money supply in a free-market economy, including various forms of the money supply in the United States and the effect of the banking system on the money supply. (E)
ECON-7.3 Explain the purposes and effects of fiscal and monetary policies, including the structure and function of the Federal Reserve System and policies on unemployment, inflation, and economic growth. (E)
ECON-7.4 Explain the types of goods and services that are funded with government revenues, including national defense, road construction and repair, public safety, health care, payments on the national debt, and education. (E, P)
ECON-7.5 Contrast the costs and benefits of the American government’s economic policies, including how policies designed to reduce unemployment may increase inflation and vice versa and how investment in factories, machinery, new technology, health education, and occupational training can raise standards of living. (E)Standard ECON-8: The student will demonstrate an understanding of the principles of trade and economic development. IndicatorsECON-8.1 Explain the basic principles of international trade, including the worldwide distribution of resources, the concept of absolute and comparative advantages that leads to specialization and trade, and the concepts of balance of trade and balance of payments that are used to measure international trade. (E, G)
ECON-8.2 Summarize the outcomes of global trade, including gains made by individuals and nations through trade, increases in consumer choice and standard of living, and gains in production efficiency. (E, G)
ECON-8.3 Compare the effects of unrestricted and restricted trade—including those of tariffs and quotas—on the economic and social interests of a nation-state. (E, G)
ECON-8.4 Explain the basic concept of the foreign exchange market, including the operation of exchange rates and the effects of the dollar’s gaining or losing value relative to other currencies. (E) ECON-8.5 Summarize global patterns of economic activity—including world trade partners, the geographic features of trade, and international political borders—and explain the impact of developing nations on the global economy. (E, G, P) Major Assessments and Grading Practices: ü Section quizzes and chapter tests will be given at the completion of sections and chapters. ü Semester exams will cover all material covered in the semester and aligned with state standards.ü Homework/classwork will be checked regularly for completeness. ü All quizzes and daily work completed in class or completed as homework will make up 50% of the quarter average.ü All tests, and major projects will make up 50% of the quarter average.To compute the final average, the average of the 1st and 2nd nine weeks willequal 80% of the average while the final exam will count 20%. Major Course Assignments and Projects: Projects will be completed as supplements to regular classwork.These projects are cooperative learning activities and individual assignments with an emphasis on personal finance skills.Stock Market Simulation Project
1. You have $10,000.00 in “pretend money” to invest in stocks of your choice. 2. Stocks may be chosen from the following areas:· Technology· Transportation· Utilities· Healthcare· Clothing· Banking· Oil Stocks· Entertainment· Others?3. You may “purchase” stock in any three- (3) companies in any three- (3) of the areas listed in #2 above. Once you have told Polliard which stocks you have “bought”, you may not track any other stocks without permission from Polliard.
4. You must record fifteen (15) separate daily entries for each of the three- (3) stocks you are following. A sample tracking sheet will be shown in class. Do not mix different stock records on a single sheet. Each stock should be tracked on its own sheet. 5. You must read, reflect and record your reaction to at least five- (5) news articles for each of your three- (3) stocks. 6. All work should be brought to each class so that progress may be checked and assistance provided. You will lose points if you leave your work at home or in the car, etc. 7. The due date is _________________. Projects turned in late for any reason may have up to 50% of their grade deducted! PLEASE turn in your project on time.Stock Project Introduction
- Open -------------------------------- http://www.chasarea.com/stocks
- Open -------------------------------- http://nyse.com
- Click ------------------------------- “About the NYSE” then
“Historical Perspective” READ
- Click ------------------------------- “Overview” READ Mission Statement
- Click ------------------------------- “Help” (top right) EXPLORE
- Click ------------------------------- “Listed Companies”
- Click ------------------------------- “Alphabet” AND/OR “Industry” SEARCH
For companies.
Stock Project Introduction
- Open -------------------------------- http://www.chasarea.com/stocks
- Open -------------------------------- http://nyse.com
- Click ------------------------------- “About the NYSE” then
“Historical Perspective” READ
- Click ------------------------------- “Overview” READ Mission Statement
- Click ------------------------------- “Help” (top right) EXPLORE
- Click ------------------------------- “Listed Companies”
- Click ------------------------------- “Alphabet” AND/OR “Industry” SEARCH
For companies.
STOCK ACTIVITY Company Symbol Buy in 8/02 Sell in 3/06 Deltic Lumber Co. DEL $27.72 $55.18 Ebay EBAY 54.90 37.88 WalMart WMT 46.10 48.19 Google GOOG 100.34 365.80 Ralph Laruen Polo RL 20.06 60.73
NAME ______________________________ CLASS PERIOD ___________
STOCK MARKET PROJECT GRADE SHEET (Polliard)
TOTAL POINTSAre there at least three (3) stocks recorded?
0=0 pt. <3=6 pt. 3=10 pt. >3=12 pt. _______________
Are there fifteen (15) daily entries for each stock?
0=0 pt. <15=6 pt. 15=10 pt. >15=12 pt . _______________
Are there at least five (5) news items per stock referenced in the entries?
0=0 pt. <5=6 pt. 5=10pt. >5=12 pt. _______________
Is there a dollar change posted for each day after the first day for each stock?
(14 postings per stock X 3 stocks minimum = 42 postings minimum)
0=0 pt. <14 = 6 pt. 14 = 10 pt. >14 = 12 pt. _______________
Was the $10,000 invested (plus or minus $100)?
YES = 10 pt. NO = 0 pt. _______________
Are all entries on all sheets legible and clearly labeled?
YES = 10 pt. NO = 0 pt. ______________
Were any graphs, diagrams or “extra” data provided?
( NOTE….. This does NOT include the graphs or other
calculations done in class on the due date).
YES = 12 pt. NO = 10 pt. ______________
Did you create line graphs that trace two (2) of your stocks?
YES = 10 pt. NO = 0 pt. ______________
Did you calculate your total gain or loss on the investment?
YES = 10 pt. NO = 0 pt. ______________
Is there evidence that you obtained information from more than one (1) source?
YES = 10 pt. NO = 0 pt. ______________
TOTAL POINTS EARNED ______________
COMMENTS: NEWS ARTICLE ASSIGNMENT You are expected to turn in articles that deal with an economic concept that we have discussed or will discuss. The articles must be CUT from a newspaper or magazine, or DOWNLOADED from mainstream news web sites. (E.g. CNN, MSNBC, FOX, THE WALL STREET JOURNAL etc.) You are to pick an article that is at least 100 words in length and not more than 6 months old. The article must be posted or printed onto an 81/2" X II" sheet of white paper. Due Date(s) is/are: _______________________ You are expected to: · Write a brief summary of the article. (About 50 words) · Write your personal opinions, reactions and predictions as to the importance of the news article. Make connections with topics you have already studied (50-100 words) All work should be typed using 12-point font, or VERY neatly handwritten in blue or black ink with 1" margins. SUGGESTIONS The following are suggested for your convenience. Other topics/categories may also be appropriate. If you are not sure of the appropriateness of an article, please ask me about it. · TRADE-OFFS · OPPORTUNITY COSTS · THINKING AT THE MARGIN · RESPONDING TO INCENTIVES · TRADE (DOMESTIC OR INTERNATINAL) AND RELATED ISSUES. · INTERNATIONAL EXCHANGE ISSUES· MARKETS · ROLE(S) OF GOVERNMENT · PRODUCTIVITY · INFLATION / DEFLATION· UNEMPLOYMENT · SCARCITY · EXTERNALITIES (SIDE EFFECTS, POSITIVE OR NEGATIVE) · TYPES OF ECONOMIC SYSTEMS· MONEY SYPPLY· THE FEDERAL RESERVE SYSTEM· FISCAL POLICY· ETC. Consumer Economics and Financial Literacy Portfolio ProjectYou’ll come into contact with money almost every day for the rest of your life. When you are at work, you’re earning money. When you’re at the mall, you’re spending money. Used poorly, money can be a source of anxiety and lead to financial problems. Used wisely, money can be a tool to help you achieve your goals and dreams. That’s the goal of our Consumer Economics and Financial Literacy Portfolio Project.
You will receive a variety of hardcopy handouts, view selected videos and websites, engage in discussion in school and at home and explore strategies that will help you achieve personal financial goals.
Much of the work we will do in the classroom but some work will be required outside the class. It is VERY important that you attend all classes and keep up with our daily progress. Your finished portfolio will be made up of a collection of documents that correspond to the items listed on the attached rubric.
Good luck!
Name ______________________________Date _____ Class Period _________
Consumer Economics PortfolioCP Economics
Budget #1 PLUS Budget Notes | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|
Budget #2 Worksheet | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
Budget #3 Worksheet | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
Budget #2 Short-Term & Long-Term Adjustments | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
Budget #3 Short-Term & Long-Term Adjustments | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
Credit Application | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
Financing a Car Worksheet #1 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
Financing a Car Worksheet #2 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
Net Worth Statement | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
Checking/Debit Worksheets | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
Stock Activity Summary Sheet | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
Stock Graphs (2 stocks total) | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
2 Short-run Goals PLUS 2 Long-run Goals | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
| Notes on the film, The ABC’s of Personal Finance | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
Notes - Current Event Article regarding the Savings Rate | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
Worksheet – The Time Value of Money | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
Notes - Insurance | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
| 170 |
Total Points Earned