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Course Syllabus & Competencies

Welcome to Econ & Personal Finance!

Instructor: Mrs. Andi Johnson 

Email: andijohnson@rcps.info

School Phone: (540) 853-2255  Room 3-411 Persinger Hall

Hall Principal: Mr. Todd Reichert

Course Title: Economics and Personal Finance/ 36 weeks

Course Description

In this course, students will develop the skills employers expect in the modern workforce and explore the multifaceted financial decision-making process involved in daily life.  Skills for workplace readiness include personal qualities and abilities, interpersonal skills, and professional competencies. Exploration of the monetary system, record-keeping, and banking are enhanced through the study of economics, credit, insurance, and other topics.  This course prepares students to plan, manage, and analyze the financial aspects of business, the banking industry, and personal life.

Required Materials

  • School laptop computer
  • Pencil/Pen
  • USB Storage Device (optional)

Attendance

Students are expected to arrive on-time for all scheduled classes and leave at the proper dismissal time.  Excessive tardiness and/or absences can impact student success in this course.  This will apply to synchronous instruction class times as well as face-to-face instruction times.

Virtual Virginia Economics and Personal Finance Curriculum will be used in this course.

The W!SE Financial Literacy Certification will be taught in this course.

The Virginia Workplace Readiness Skills will also be emphasized in this course.

Course Schedule

1st 9 Weeks

  • Basic Economic Concepts
  • Consumers and Producers
  • The Price System
  • The Market Economy
  • National Economic Indicators and Goals
  • The Global Economy

2nd 9 Weeks

  • Fiscal and Monetary Policy
  • Financial Planning
  • Banking and Financing Purchases
  • Savings and Investing

3rd 9 Weeks

  • Human Capital and Earnings
  • Insurance
  • Consumer Skills
  • Living Expenses and Budgeting
  • EverFi (W!SE test preparation)

4th 9 Weeks

  • W!SE Student Certification
  • Workplace Readiness Skills
  • Final Exam

Grades

Grades will be averaged based on a total point system.  Every assignment, project, quiz, or test will be assigned a point value.  You must have a passing overall average to pass the course. 
This course follows the Roanoke City Public Schools grading scale: 
A= 100- 90
B= 89- 80
C= 79-70
D= 69-60
F= 59-0

We will use the Canvas App to turn in all assignments!

Do your own work.  If you are caught cheating/copying another student’s work you will receive an automatic zero grade for that assignment.

Make-Up Policy

It is the student’s responsibility to inquire with the teacher regarding missed assignments in the event of an absence.  Any work missed must be made up within 5 class periods.  Work submitted after 5 class periods will result in a zero grade for that assignment.

Classroom Policies and Procedures

  • Show respect.
    • Raise your hand if the teacher is teaching.
    • Wait your turn if a classmate is speaking.
    • Keep all food and liquids away from your computer.
  • Ask for clarity and help! That's what I'm here for! :)
  • No Phones or Headphones during class-- Sorry guys!
  • Be prepared and ready for class every day. (Computers ready)
  • Complete all assignments.
  • Use professional language.
    • Speak the way you want to be perceived in the business world.
  • Clean your area before leaving class.
  • Use your time wisely.

*This Syllabus is subject to change.*

VDOE Course Competencies

2020/2021 Student Competency Record  

Economics and Personal Finance 

6120 - 36 weeks 

6120 

36 weeks 

Economics and Personal Finance 

TASKS/COMPETENCIES 

 

Demonstrating Personal Qualities and Abilities 

 

Required 

Demonstrate creativity and innovation. 

 

Required 

Demonstrate critical thinking and problem solving. 

 

Required 

Demonstrate initiative and self-direction. 

 

Required 

Demonstrate integrity. 

 

Required 

Demonstrate work ethic. 

 

 

Demonstrating Interpersonal Skills 

 

Required 

Demonstrate conflict-resolution skills. 

 

Required 

Demonstrate listening and speaking skills. 

 

Required 

Demonstrate respect for diversity. 

 

Required 

Demonstrate customer service skills. 

 

Required 

10 

Collaborate with team members. 

 

 

Demonstrating Professional Competencies 

 

Required 

11 

Demonstrate big-picture thinking. 

 

Required 

12 

Demonstrate career- and life-management skills. 

 

Required 

13 

Demonstrate continuous learning and adaptability. 

 

Required 

14 

Manage time and resources. 

 

Required 

15 

Demonstrate information-literacy skills. 

 

Required 

16 

Demonstrate an understanding of information security. 

 

Required 

17 

Maintain working knowledge of current information-technology systems. 

 

Required 

18 

Demonstrate proficiency with technologies, tools, and machines common to a specific occupation. 

 

Required 

19 

Apply mathematical skills to job-specific tasks.  

 

Required 

20 

Demonstrate professionalism.  

 

Required 

21 

Demonstrate reading and writing skills 

 

Required 

22 

Demonstrate workplace safety. 

 

 

Examining All Aspects of an Industry 

 

Required 

23 

Examine aspects of planning within an industry/organization. 

 

Required 

24 

Examine aspects of management within an industry/organization. 

 

Required 

25 

Examine aspects of financial responsibility within an industry/organization. 

 

Required 

26 

Examine technical and production skills required of workers within an industry/organization. 

 

Required 

27 

Examine principles of technology that underlie an industry/organization. 

 

Required 

28 

Examine labor issues related to an industry/organization. 

 

Required 

29 

Examine community issues related to an industry/organization. 

 

Required 

30 

Examine health, safety, and environmental issues related to an industry/organization. 

 

 

Addressing Elements of Student Life 

 

Required 

31 

Identify the purposes and goals of the student organization. 

 

Required 

32 

Explain the benefits and responsibilities of membership in the student organization as a student and in professional/civic organizations as an adult. 

 

Required 

33 

Demonstrate leadership skills through participation in student organization activities, such as meetings, programs, and projects. 

 

Required 

34 

Identify Internet safety issues and procedures for complying with acceptable use standards. 

 

 

Exploring Work-Based Learning 

 

Required 

35 

Identify the types of work-based learning (WBL) opportunities. 

 

Optional 

36 

Reflect on lessons learned during the WBL experience. 

 

Required 

37 

Explore career opportunities related to the WBL experience. 

 

Optional 

38 

Participate in a WBL experience, when appropriate. 

 

 

Developing Basic Economic Concepts and Structures 

 

Required 

39 

Describe how consumers, businesses, and government decision-makers face scarcity of resources and must make trade-offs and incur opportunity costs.  

 

Required 

40 

Explain that economic choices often have long-term, unintended consequences.  

 

Required 

41 

Describe how effective decision-making requires comparing the additional costs (marginal costs) and additional benefits (marginal benefits).  

 

Required 

42 

Identify factors of production.  

 

Required 

43 

Compare economic systems.  

 

Required 

44 

Explain Adam Smith’s characteristics of a market economy.  

 

 

Understanding the Role of Producers and Consumers in a Market Economy 

 

Required 

45 

Describe how consumers, producers, workers, savers, investors, and other people respond to incentives. 

 

Required 

46 

Explain how businesses respond to consumer sovereignty.  

 

Required 

47 

Identify the role of entrepreneurs.  

 

Required 

48 

Compare the costs and benefits of different forms of business organization.  

 

Required 

49 

Describe how costs and revenues affect profit and supply.  

 

Required 

50 

Describe how increased productivity affects costs of production and standard of living.  

 

Required 

51 

Examine how investment in human capital, physical capital, and technology can improve productivity.  

 

Required 

52 

Describe the effects of competition on producers, sellers, and consumers.  

 

Required 

53 

Explain why monopolies or collusion among sellers reduces competition and raises prices.  

 

Required 

54 

Describe the circular flow of economic activity.  

 

 

Exploring the Price System 

 

Required 

55 

Examine the laws of supply and demand and the determinants of each.  

 

Required 

56 

Explain how the interaction of supply and demand determines equilibrium price.  

 

Required 

57 

Describe the elasticity of supply and demand.  

 

Required 

58 

Examine the purposes and implications of price ceilings and price floors.  

 

 

Demonstrating Knowledge of a Nation's Economic Goals 

 

Required 

59 

Examine the market value of a worker’s skills and knowledge.  

 

Required 

60 

Describe how changes in supply and demand for goods and services affect a worker’s income.  

 

 

Demonstrating Knowledge of a Nation's Economic Goals 

 

Required 

61 

Describe economic indicators, such as gross domestic product (GDP), consumer price index (CPI), and unemployment rate.  

 

Required 

62 

Describe the causes and effects of unemployment and inflation.  

 

Required 

63 

Describe the fluctuations of the business cycle.  

 

Required 

64 

Describe strategies for achieving national economic goals.  

 

Required 

65 

Demonstrate knowledge of the nation’s financial system.  

 

Required 

66 

Demonstrate knowledge of how monetary and fiscal policy influence employment, output, and prices.  

 

Required 

67 

Demonstrate knowledge of the role of government in a market economy.  

 

Required 

68 

Demonstrate knowledge of the global economy.  

 

 

Developing Consumer Skills 

 

Required 

69 

Examine basic economic concepts and their relation to product prices and consumer spending.  

 

Required 

70 

Examine the effect of supply and demand on wages and prices.  

 

Required 

71 

Describe the steps for making a purchase decision.  

 

Required 

72 

Describe common types of contracts and the implications of each.  

 

Required 

73 

Demonstrate comparison-shopping skills.  

 

Required 

74 

Maintain a filing system for personal financial records.  

 

Required 

75 

Examine the impact of advertising and marketing on consumer demand and decision making in the global marketplace.  

 

Required 

76 

Access reliable financial information from a variety of sources.  

 

Required 

77 

Explain consumer rights, responsibilities, remedies, and the importance of consumer vigilance.  

 

Required 

78 

Examine precautions for protecting identity and other personal information.  

 

Optional 

79 

Interact effectively with salespersons and merchants.  

 

Optional 

80 

Describe consumer protection regulations.  

 

Optional 

81 

Describe the role of consumer assistance agencies.  

 

 

Demonstrating Knowledge of Planning for Living and Leisure Expenses 

 

Required 

82 

Compare the costs and benefits of purchasing vs. leasing a vehicle.  

 

Required 

83 

Compare the advantages and disadvantages of renting vs. purchasing a home.  

 

Required 

84 

Describe the process of renting housing.  

 

Required 

85 

Describe the process of purchasing a home.  

 

Required 

86 

Calculate the cost of utilities, services, maintenance, and other housing expenses involved in independent living.  

 

Required 

87 

Evaluate discretionary spending decisions.  

 

 

Demonstrating Knowledge of Banking Transactions 

 

Required 

88 

Describe the types of financial institutions.  

 

Required 

89 

Examine how financial institutions affect personal financial planning.  

 

Required 

90 

Evaluate services and related costs associated with personal banking.  

 

Required 

91 

Differentiate among types and regulations of electronic monetary transactions.  

 

Required 

92 

Prepare all forms necessary for opening and maintaining a checking and a savings account.  

 

Required 

93 

Reconcile bank statements.  

 

Required 

94 

Compare costs and benefits of online, mobile, and traditional banking.  

 

Required 

95 

Explain how certain historical events have influenced the banking system and other financial institutions.  

 

Optional 

96 

Compare the U.S. monetary system with the international monetary system.  

 

 

Demonstrating Knowledge of Credit and Loan Functions 

 

Required 

97 

Evaluate the various methods of financing a purchase. 

 

Required 

98 

Analyze credit card features and their impact on personal financial planning.  

 

Required 

99 

Identify qualifications needed to obtain credit.  

 

Required 

100 

Identify basic provisions of credit and loan laws.  

 

Required 

101 

Compare terms and conditions of various sources of consumer credit.  

 

Required 

102 

Identify strategies for effective debt management, including sources of assistance.  

 

Required 

103 

Explain credit rating and credit report.  

 

Required 

104 

Compare the costs and conditions of secured and unsecured loans.  

 

Required 

105 

Compare the types of voluntary and involuntary bankruptcy and the implications of each.  

 

Optional 

106 

Calculate payment schedules for a loan, using spreadsheets, calculators, and/or online tools. 

 

Optional 

107 

Complete a sample credit application. 

 

 

Demonstrating Knowledge of the Role of Insurance in Risk Management 

 

Required 

108 

Evaluate insurance as a risk-management strategy.  

 

Required 

109 

Distinguish among the types, costs, and benefits of automobile insurance coverage.  

 

Required 

110 

Distinguish among the types, costs, and benefits of life insurance.  

 

Required 

111 

Distinguish among the types, costs, and benefits of property insurance.  

 

Required 

112 

Distinguish among the types, costs, and benefits of health insurance.  

 

Required 

113 

Explain the roles of insurance in financial planning.  

 

Optional 

114 

Distinguish among the types of professional liability insurance.  

 

 

Demonstrating Knowledge of Income Earning and Reporting 

 

Required 

115 

Examine how personal choices about education, training, skill development, and careers impact earnings.  

 

Required 

116 

Differentiate among sources of income.  

 

Required 

117 

Calculate net pay.  

 

Required 

118 

Investigate employee benefits and incentives.  

 

Required 

119 

Complete standard federal employment tax forms.  

 

 

Demonstrating Knowledge of Taxes 

 

Optional 

120 

Describe the types and purposes of local, state, and federal taxes and the way each is levied and used.  

 

Optional 

121 

Explore how tax structures affect consumers, producers, and business owners differently.  

 

Required 

122 

Compute local taxes on products and services.  

 

Required 

123 

Examine potential tax deductions and credits on a tax return.  

 

Required 

124 

Explain the content and purpose of a standard W-2 and 1099 form.  

 

Required 

125 

Explain the similarities and differences between state and federal taxation of inheritances.  

 

Optional 

126 

Define the terminology associated with inheritance.  

 

Optional 

127 

Compare investment options for a monetary inheritance.  

 

Optional 

128 

Examine types and purposes of estate planning.  

 

Optional 

129 

Complete a state income tax form, including electronic formats.  

 

Optional 

130 

Complete short and itemized federal income tax forms, including electronic formats.  

 

 

Demonstrating Knowledge of Personal Financial Planning 

 

Required 

131 

Identify short-term and long-term personal financial goals.  

 

Required 

132 

Identify anticipated and unanticipated income and expenses.  

 

Required 

133 

Examine components and purposes of a personal net worth statement.  

 

Required 

134 

Develop a personal budget.  

 

Required 

135 

Investigate the effects of government actions and economic conditions on personal financial planning.  

 

Required 

136 

Explain how economics influences a personal financial plan.  

 

 

Demonstrating Knowledge of Investment and Savings Planning 

 

Required 

137 

Compare the impact of simple interest vs. compound interest on savings.  

 

Required 

138 

Compare investment and savings options.  

 

Required 

139 

Explain costs and income sources for investments.  

 

Required 

140 

Examine the fundamental workings of the Social Security System and the system’s effects on retirement planning.  

 

Required 

141 

Contrast alternative retirement plans.  

 

Required 

142 

Explore how the stock and bond markets work.  

 

 

Financing Education after High School 

 

Required 

143 

Identify sources of financial aid.  

 

Required 

144 

Examine types of student loans.  

 

Required 

145 

Explain the repayment process for student loans.  

 

Required 

146 

Describe types of student grants.  

 

Required 

147 

Describe types of scholarships.  

 

Required 

148 

Describe investment options to pay for college costs.  

 

Required 

149 

Identify ways to make the cost of post-secondary education affordable.  

 

 

Preparing for Industry Certification 

 

Required 

150 

Describe the process and requirements for obtaining industry certifications related to the Economics and Personal Finance course.  

 

Required 

151 

Identify testing skills/strategies for a certification examination.  

 

Required 

152 

Demonstrate ability to successfully complete selected practice examinations (e.g., practice questions similar to those on certification exams).  

 

Required 

153 

Successfully complete an industry certification examination representative of skills learned in this course (e.g., W!SE Financial Literacy Examination).  

 

 

Developing Career Exploration and Employability Skills 

 

Optional 

154 

Investigate career opportunities.  

 

Optional 

155 

Identify personal interests, aptitudes, and attitudes related to the characteristics found in successful workers.  

 

Optional 

156 

Prepare a professional portfolio.  

 

Optional 

157 

Research a company in preparation for a job interview.  

 

Optional 

158 

Participate in mock interviews to refine interviewing techniques.  

 

Optional 

159 

Prepare employment-related correspondence.