It is important to note that this project was a collaborative effort by Economics teachers at Osborne High School in Marietta, GA. Special thanks to Jennifer Yeomans and Lori Barger for your original project and attention to detail.
Online resources:
www.kidblog.org
www.vimeo.com
http://www.apartmentfinder.com/
http://calc.myenergy.com/
https://www.forrent.com/blog/apt_life/apartment-utility-breakdown-what-apartment-life-costs-beyond-the-rent/
https://www.aldi.us/
https://www.kroger.com/
http://www.walmart.com/
http://www.publix.com/
http://www.carmax.com
Understanding the difference between gross and net pay: https://www.youtube.com/watch?v=-uZ4GcqEU5A
Below are the content and technology standards included in this project.
Personal Finance Economics
SSEPF1 The student will apply rational decision making to personal spending and saving choices.
a. Explain that people respond to positive and negative incentives in predictable ways.
b. Use a rational decision making model to select one option over another.
c. Create a savings or financial investment plan for a future goal.
SSEPF2 The student will explain that banks and other financial institutions are businesses that channel funds from savers to investors.
a. Compare services offered by different financial institutions.
b. Explain reasons for the spread between interest charged and interest earned.
c. Give examples of the direct relationship between risk and return.
d. Evaluate a variety of savings and investment options; include stocks, bonds, and mutual funds.
SSEPF3 The student will explain how changes in monetary and fiscal policy can have an impact on an individual’s spending and saving choices.
a. Give examples of who benefits and who loses from inflation.
b. Define progressive, regressive, and proportional taxes.
c. Explain how an increase in sales tax affects different income groups.
SSEPF4 The student will evaluate the costs and benefits of using credit.
a. List factors that affect credit worthiness.
b. Compare interest rates on loans and credit cards from different institutions.
c. Explain the difference between simple and compound interest rates.
SSEPF5 The student will describe how insurance and other risk-management strategies protect against financial loss.
a. List various types of insurance such as automobile, health, life, disability, and property.
b. Explain the costs and benefits associated with different types of insurance; include deductibles, premiums, shared liability, and asset protection.
Technology Standards (NETS-S)
1. Creativity and innovation
Students demonstrate creative thinking, construct knowledge, and develop innovative products and processes using technology.
a. Apply existing knowledge to generate new ideas, products, or processes
b. Create original works as a means of personal or group expression
c. Use models and simulations to explore complex systems and issues
d. Identify trends and forecast possibilities
2. Research and information fluency
Students apply digital tools to gather, evaluate, and use information.
a. Plan strategies to guide inquiry
b. Locate, organize, analyze, evaluate, synthesize, and ethically use information from a variety of sources and media
c. Evaluate and select information sources and digital tools based on the appropriateness to specific tasks
d. Process data and report results
4. Critical thinking, problem solving, and decision making
Students use critical thinking skills to plan and conduct research, manage projects, solve problems, and make informed decisions using appropriate digital tools and resources.
a. Identify and define authentic problems and significant questions for investigation
b. Plan and manage activities to develop a solution or complete a project
c. Collect and analyze data to identify solutions and/or make informed decisions
d. Use multiple processes and diverse perspectives to explore alternative solutions
6. Technology operations and concepts
Students demonstrate a sound understanding of technology concepts, systems, and operations.
a. Understand and use technology systems
b. Select and use applications effectively and productively
Personal Finance Economics
SSEPF1 The student will apply rational decision making to personal spending and saving choices.
a. Explain that people respond to positive and negative incentives in predictable ways.
b. Use a rational decision making model to select one option over another.
c. Create a savings or financial investment plan for a future goal.
SSEPF2 The student will explain that banks and other financial institutions are businesses that channel funds from savers to investors.
a. Compare services offered by different financial institutions.
b. Explain reasons for the spread between interest charged and interest earned.
c. Give examples of the direct relationship between risk and return.
d. Evaluate a variety of savings and investment options; include stocks, bonds, and mutual funds.
SSEPF3 The student will explain how changes in monetary and fiscal policy can have an impact on an individual’s spending and saving choices.
a. Give examples of who benefits and who loses from inflation.
b. Define progressive, regressive, and proportional taxes.
c. Explain how an increase in sales tax affects different income groups.
SSEPF4 The student will evaluate the costs and benefits of using credit.
a. List factors that affect credit worthiness.
b. Compare interest rates on loans and credit cards from different institutions.
c. Explain the difference between simple and compound interest rates.
SSEPF5 The student will describe how insurance and other risk-management strategies protect against financial loss.
a. List various types of insurance such as automobile, health, life, disability, and property.
b. Explain the costs and benefits associated with different types of insurance; include deductibles, premiums, shared liability, and asset protection.
Technology Standards (NETS-S)
1. Creativity and innovation
Students demonstrate creative thinking, construct knowledge, and develop innovative products and processes using technology.
a. Apply existing knowledge to generate new ideas, products, or processes
b. Create original works as a means of personal or group expression
c. Use models and simulations to explore complex systems and issues
d. Identify trends and forecast possibilities
2. Research and information fluency
Students apply digital tools to gather, evaluate, and use information.
a. Plan strategies to guide inquiry
b. Locate, organize, analyze, evaluate, synthesize, and ethically use information from a variety of sources and media
c. Evaluate and select information sources and digital tools based on the appropriateness to specific tasks
d. Process data and report results
4. Critical thinking, problem solving, and decision making
Students use critical thinking skills to plan and conduct research, manage projects, solve problems, and make informed decisions using appropriate digital tools and resources.
a. Identify and define authentic problems and significant questions for investigation
b. Plan and manage activities to develop a solution or complete a project
c. Collect and analyze data to identify solutions and/or make informed decisions
d. Use multiple processes and diverse perspectives to explore alternative solutions
6. Technology operations and concepts
Students demonstrate a sound understanding of technology concepts, systems, and operations.
a. Understand and use technology systems
b. Select and use applications effectively and productively