Course title
Personal Finance and EconomicsPre-requisite
N/ACourse description
Students will learn about personal finance and economics which focus on 21st century personal finance knowledge and skill in a student-centered; competency-based approach to learning. Debt management; budgeting with intention; investing; saving; income and careers; planning and money management; risk management and insurance are some of the topics that will be covered in the course. Students who successfully complete the course will be adequately prepared to understand personal business & economic issues. Career and Technical Student Organization (CTSO) standards will be an integral part of this class.
Upon successful completion of the course students will earn the course CTE credit and the personal finance credit needed for graduation. Students can also earn (upon successful completion) economics credit if the teacher is highly qualified in economics. The economics credit meets the graduation requirement but may not meet college entry requirements. Please be sure to check with your admitting college.
Course Sequence: Personal Finance and Economics; Finance in the World of Work and then Finance Internship
STANDARD 1.0—ANALYZE BANKING AND RELATED FINANCIAL SERVICES
1.1 Compare products available at financial institutions such as banks and credit unions
1.2 Explain the role of the Federal Reserve system
1.3 Explain the role of Federal Deposit Insurance Corporation (FDIC) and National Credit Union Association
(NCUA)
STANDARD 2.0—EXAMINE SECURITY SYSTEMS AND PROCEDURES FOR FINANCIAL INSTITUTIONS
2.1 Identify security systems and procedures; e.g.; alarms; opening/closing procedures; robbery; bomb
threats
2.2 Identify ways checks and balance systems protect financial institutions from monetary loss; such as; dual
control
2.3 Analyze methods to protect customer privacy
2.4 List preventive measures to protect from fraud
2.5 Analyze procedures to prevent identity theft
STANDARD 3.0—ANALYZE TYPES OF SECURITIES AND RELATED INVESTMENTS
3.1 Investigate investment opportunities to include in a diversified portfolio
3.2 Examine characteristics of investments such as stocks; bonds; commodities; or mutual funds
3.3 Track and research domestic/international investments
3.4 Analyze an investment plan; for example aggressive vs conservative
3.5 Explain the role of the Securities Exchange Commission
3.6 Explain the stock market’s impact on financial investments
3.7 Examine the various global economic conditions that can impact financial investments
STANDARD 4.0—ANALYZE INSURANCE SERVICES
4.1 Describe the risks and the needs for insurance
4.2 Identify the benefits and characteristics of the different type of insurance; including life; health; property;
and liability insurance
4.3 Explain the type of protection provided by each type of insurance
4.4 Differentiate the characteristics of annuity products for example retirement; tax benefits; and estate
planning.
4.5 Explain the role of the state’s department of insurance
STANDARD 5.0—ANALYZE CREDIT AND LENDING
5.1 Examine characteristics of secured and unsecured credit
5.2 Examine real estate investments
5.3 Analyze credit and loan applications
5.4 Analyze credit reports and scoring
5.5 Analyze each type of mortgage loan for example fixed or adjustable.
5.6 Examine the various conditions that can impact interest rates
STANDARD 6.0—DEMONSTRATE CUSTOMER SERVICE SKILLS FOR A FINANCIAL SERVICE
ORGANIZATION
6.1 Demonstrate proper telephone etiquette
6.2 Demonstrate customer/client communications and transactions
6.3 Exhibit appropriate techniques to interview and conference with customers/clients
6.4 Demonstrate how to resolve a customer’s complaint
6.5 Explain financial impact on business of a satisfied customer
STANDARD 7.0—ANALYZE TYPES OF REAL ESTATE INVESTMENTS
7.1 Examine types of real estate investments for example commercial and residential
7.2 Explore the responsibilities and liabilities of owning rental property
STANDARD 8.0—DEVELOP BUSINESS AND FINANCIAL MANAGEMENT PRACTICES NEEDED FOR
ENTREPRENEURS
8.1 Develop criteria and create a list of professionals to help start a business
8.2 Identify legal matters that affect business finances including labor laws; contracts; licensing; intellectual
property; zoning and tax laws
8.3 Research necessary registrations such as business name; articles of incorporation; EIN; transaction
privilege tax; vendor license
8.4 Explain basic income tax laws and government regulation of financial services
8.5 Explain business risk and insurance
8.6 Compareowning versus leasing of property and/or capital
STANDARD 9.0—EVALUATE THE ROLE OF SMALL BUSINESS IN THE FINANCIAL SERVICES
INDUSTRY
9.1 Evaluate the role of small business in the economy: local; state; national; and international economics
9.2 List the factors including personal traits; which contribute to the success and failure of small business
9.3 Compare/contrast the advantages/disadvantages of sole proprietorships; partnerships and corporations
9.4 Analyze the relationship of customer service and customer satisfaction on the success of a business
STANDARD 10.0—ANALYZE BUSINESS FINANCIAL MANAGEMENT INFORMATION
10.1 Analyze short- and long-term budgetary plans
10.2 Analyze financial data to produce accurate reports
10.3 Compile transaction data to report financial information
10.4 Use federal; state and local regulations to determine appropriate financial practices
10.5 Examine a client’s money management patterns including risk tolerance and financial goals
10.6 Identify procedures and documents to create a financial plan
Arizona
State Standard or Benchmark:
Essential Learning:
Economics
SS.2.PO.3 Describe how government policies influence the economy.
SS.5.PO.1 Explain how education; career choices and family obligations affect future income.
SS.5.PO.2 Analyze how advertising influences consumer choices.
SS.5.PO.3 Determine short- and long-term financial goals and plans; including income; spending; saving; and investing.
SS.5.PO.4 Compare the advantages and disadvantages of using various forms of credit and the determinants of credit history.
SS.5.PO.5 Explain the risk; return; and liquidity of short and long-term saving and investment vehicles.
SS.5.PO.6 Identify investment options available to individuals and households.
Standards
Financial Responsibility and Decision Making
Standard 1: The student will apply reliable information and systematic decision making to personal financial decisions.
Income and Careers
Standard 2: The student will use a career plan to develop personal income potential.
Planning and Money Management
Standard 3: The student will understand how to organize personal finances and use a budget to manage cash flow.
Credit and Debt
Standard 4: The student will understand how to maintain creditworthiness; borrow at favorable terms; and manage debt.
Risk Management and Insurance
Standard 5: The student will understand how to use appropriate and cost-effective risk management strategies.
Saving and Investing
Standard 6: The student will understand how to implement a diversified investment strategy that is compatible with personal goals.
Common Core State Standards:
State Standard or Benchmark: Grades 9-10/11-12
English Language Arts Standards: History/Social
Craft and Structure
CCSS.ELA-Literacy.RH.9-10.4 Determine the meaning of words and phrases as they are used in a text as they are produced in a text; including vocabulary describing political; social; or economic aspects of history/social science.
Integration of Knowledge and Ideas
CCSS.ELA-Literacy.RH.11-12.8 Evaluate an authors’ differing points of view on the same historical event or issue by assessing the authors’ claims; reasoning; and evidence.
English Language Arts Standards: Speaking & Listening
Comprehension and Collaboration
CCSS.ELA-Literacy.SL.11-12.1 Initiate and participate effectively in a range of collaborative discussions (one-on-one; in groups; and teacher-led) with diverse partners on grades 11-12 topics; texts; and issues; building on others’ ideas and expressing their own clearly and persuasively.
CCSS.ELA-Literacy.SL.11-12.1a Come to discussions prepared having read and researched material under study; explicitly draw on that preparation by referring to evidence from texts and other research on the topic or issue to stimulate a thoughtful; well-reasoned exchange of ideas.
CCSS.ELA-Literacy.SL.11-12.1b Work with peers to promote civil; democratic discussions and decision-making; set clear goals and deadlines and establish individual roles as needed.
CCSS.ELA-Literacy.SL.11-12.1c Propel conversations by posing and responding to questions that probe reasoning and evidence; ensure a hearing for a full range of positions on a topic or issue; clarify; verify; or challenge ideas and conclusions; and promote divergent and creative perspectives.
CCSS.ELA-Literacy.SL.11-12.1d Respond thoughtfully to diverse perspectives; synthesize comments; claims; and evidence made on all sides of an issue; resolve contradictions when possible; and determine what additional information or research is required to deepen the investigation or complete the task
CCSS.ELA-Literacy.SL.11-12.2 Integrate multiple sources of information presented in diverse formats and media (e.g.; visually; quantitatively; orally) in order to make informed decisions and solve problems; evaluating the credibility and accuracy of each source and noting any discrepancies among the data.
CCSS.ELA-Literacy.SL.11-12.3 Evaluate a speaker’s point of view; reasoning; and use of evidence and rhetoric assessing the stance; premises; links among ideas; word choice; points of emphasis; and tone used.
Presentation of Knowledge and Ideas
CCSS.ELA-Literacy.SL.11-12.4 Present information; findings; and supporting evidence; conveying a clear and distinct perspective; such that listeners can follow the line of reasoning; alternative or opposing perspectives are addressed; and the organization; development; substance; and style are appropriate to purpose; audience; and a range of formal and informal tasks.
CCSS.ELA-Literacy.SL.11-12.5 Make strategic use of digital media (e.g.; textual; graphical; audio; visual; and interactive elements) in presentations to enhance understanding of findings; reasoning; and evidence and to add interest.
CCSS.ELA-Literacy.SL.11-12.6 Adapt speech to a variety of contexts and tasks; demonstrating a command of formal English when indicated or appropriate.
English Language Arts Standards: Writing
Text Types and Purposes
CCSS.ELA-Literacy.W.11-12.1 Write arguments to support claims in an analysis of substantive topics or texts; using valid reasoning and relevant and sufficient evidence.
CCSS.ELA-Literacy.W.11-12.1a Introduce precise; knowledgeable claim(s); establish the significance of the claim(s); distinguish the claim(s) from alternate or opposing claims; and create an organization that logically sequences claim(s); counterclaims; reasons and evidence.
CCSS.ELA-Literacy.W.11-12.1b Develop claim(s) and counterclaims fairly and thoroughly; supplying the most relevant evidence for each while pointing out the strengths and limitations of both in a manner that anticipates the audience’s knowledge level; concerns; values; and possible biases.
CCSS.ELA-Literacy.W.11-12.1e Provide a concluding statement or section that follows from and supports the argument presented.
CCSS.ELA-Literacy.W.11-12.2 Write informative/explanatory texts to examine and convey complex ideas; concepts; and information clearly and accurately through the effective selection; organization; and analysis of content.
CCSS.ELA-Literacy.W.11-12.2e Establish and maintain a formal style and objective tone while attending to the norms and conventions of the discipline in which they are writing.
CCSS.ELA-Literacy.W.11-12.2f Provide a concluding statement or section that follows from and supports the information or explanation presented (e.g.; articulating implications or the significance of the topic).
Production and Distribution of Writing
CCSS.ELA-Literacy.W.11-12.4 Produce clear and coherent writing in which the development; organization; and style are appropriate to task; purpose; and audience.
Research to Build and Present Knowledge
CCSS.ELA-Literacy.W.11-12.7 Conduct short as well as more sustained research projects to answer a question (including a self-generated question) or solve a problem; narrow or broaden the inquiry when appropriate; synthesize multiple sources on the subject; demonstrating understanding of the subject under investigation.
CCSS.ELA-Literacy.W.11-12.9 Draw evidence from literary or informational texts to support analysis; reflection; and research.
Range of Writing
CCSS.ELA-Literacy.W.11-12.10 Write routinely over extended time frames (time for research; reflection; and revision) and shorter time frames (a single sitting or a day or two) for a range of tasks; purposes; and audiences.
English Language Arts Standards: Science & Technical
Key Ideas and Details
CCSS.ELA-Literacy.RST.11-12.2 Determine the central ideas or conclusions of a text; summarize complex concepts; processes or information presented in a text by paraphrasing them in simpler but still accurate terms.
Integration of Knowledge and ideas
CCSS.ELA-Literacy.RST.11-12.7 Integrate and evaluate multiple sources of information presented in diverse formats and media (e.g.; quantitative data; video; multimedia) in order to address a question or solve a problem.
CCSS.ELA-Literacy.RST.11-12.9 Synthesize information from a range of sources (e.g.; texts; experiments; simulations) into a coherent understanding of a process; phenomenon; or concept; resolving conflicting information when possible.
English Language Arts Standards: Reading
Craft and Structure
CCSS.ELA-Literacy.RH.9-10.4 Determine the meaning of words and phrases as they are used in a text; including vocabulary describing political; social; or economic aspects of history/social science.
Integration of Knowledge and Ideas
CCSS.ELA-Literacy.RH.9-10.8 Evaluate an author’s premises; claims; and evidence by corroborating or challenging them with other information.