CONSUMER ECONOMICS
COURSE DESCRIPTION
This integrated, collaboratively taught Consumer Economics class will provide all students an opportunity to study the roles of consumers in a free enterprise economic system.The course provides principles, concepts, and understandings for the preparation of individuals as effective citizens, employees/employers and consumers participating in the American free enterprise economy By satisfying requirements of this study, all students will become more informed, skilled, productive, employable, and socially responsible citizens.
SWRSD OUTCOMES
Outcome 1: Students demonstrate many forms of communications.
Outcome 3: Students demonstrate adaptability in living and working in diverse culutral enviornments.
Outcome 4: Students learn and understand thier rights and responsibilities and work together as members of a democratic society.
Outcome 7: Students use a variety of ways to think and to reason when solving problems and making
thoughtful decisions.
Outcome 9: Students use technology for adapting to and initiating productive change.
Outcome 10: Students demonstrate liesure, vocational and life skills.
COURSE OUTLINE
CONTENT (Essential course facts, concepts, and basic skills; assessed with teacher-made tests and rubrics)
Major Units of Study
A. Consumer and the Economy
Alaska Content Standard(s): Standard A-Employability Standards
(A student will be ablee to apply critical & creative thinking skills to make decisions & solve problems)
Key Elements:Student will know about, understand, and demonstrate the ability to
1. the economic system
* identify questions that must be answered by any economic system (what is to be produced, how is it produced, and for whom).
* discuss the advantages and disadvantages of different types of economic systems.
* identify the type of economic system in the United States.
* describe the components of the circular flow of economic activity and how they interact 2. markets and prices
* define relative price and its relationship to relative scarcity when prices are set by the market forces of supply and demand.
* describe how relative prices affect buying and selling decisions of producers and consumers and determine what, how, and for whom economic goods & services are produced in the economy.
* explain how prices are used to ration limited resources, goods, and services in our economy.
3. supply and demand (could be tailered to Budgeting unit)
* describe supply and demand.
* identify determinants of supply and demand for goods and services.
* define the laws of supply and demand
* explain how decisions made by individual consumers and producers affect supply and demand.
* explain why quantity demanded and quantity supplied change with price levels.
* explain why supply and demand shifts occur.
* plot the supply and demand curve for a product sold in community.
4. the rights and responsibilities of a consumer.
* name five consumer rights & five responsibilities (consumer safety, right to be informed, etc.).
* list five federal agencies (For example:________) that are responsible for consumer protection and briefly describe their activities
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5. Explain several of the major Federal consumer protection laws (Federal Trade Commission Act, Consumer Product Safety Act, Consumer Leasing Act, etc.).
* properly register a complaint.
B. Choosing a Career
Alaska Content Standard(s): Standard F-Employability Standards:
(A student will be able to demonstrate skills which enhance career options.)
Key Elements: Student will know about, understand, and demonstrate the ability to
1. describe how to use a variety of references to research careers and explain the value of education and training.
2. explain how personal qualifications, life goals, and job trends affect career decisions.
3. analyze types of jobs which would appeal to you.
4. collect data and write a report on chosen career pathway.
C. Finance
Alaska Content Standards: Standard C-Employability Standards
(A student will be able to develop skills that promote personal knowledge, growth, and responsbility.)
Key Elements: Student will know about, understand, and demonstrate the ability to
1. bank account
* list advantages of having a checking account.
* explain the difference between two major checking accounts.
* tell why a bank requires that an individual sign a signature card when they open a checking account.
* describe the procedure for making a deposit.
* show how to record a first deposit and the check stub or register.
* identify three types of endorsements and tell when each is used and correctly endorse a check (blank, for deposit only, and third party).
* write error-free checks.
* explain how a check is cleared.
* tell why a canceled check is valuable to the drawer.
* demonstrate the ability to keep a check register.
* reconcile a checkbook statement.
2. savings and investing money
* explain how to open and use a regular savings account.
* describe a certificate of deposit and explain its advantages.
* understand the importance of having a savings plan and the most common types of savings and investments.
3. credit and loans
* explain credit and why it is used.
* identify the procedures for qualifying and keeping good credit.
* define interest and explain why it is charged.
* select an appropriate form of credit for a particular buying decision.
* complete an application form.
4. taxes
* state why government collect taxes and explain the basic principles of taxation.
* identify and describe the various kinds of taxes.
* explain what income taxes mean to you and your first job.
* calculate the income tax affect of three income levels.
* fill out and file income tax return.
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D. Budgeting
Alaska Content Standard(s): Standard C-Employability Standards
(A student will be able to develop skills that promote personal knowledge, growth, and responsbility.)
Key Elements: Student will know about, understand, and demonstrate the ability to
1. goods and services
* identify alternative sources for purchases such as co-op, retail, discount, mail, and television.
* explain why there is variance in price for a given item bought from different suppliers.
* explain the role that supply and demand play in determining the availability and price of goods and services.(supply and demand from consumer & economy ??)
2. buying goods and services
* be able to distinguish between needs and wants
* identify the steps in a rational decision making process and how they are used in making a buying decision.
* make sound choices in terms of quality and price.
* be able to apply strategies for comparison shopping.
* understand the information on warranties.
3. budgeting
* be able to set goals for spending and saving.
* explain the advantages of a personal budget.
* differentiate between fixed and variable expenses.
* demonstrate the ability to prepare a personal budget.
* compare a personal spending plan with typical consumer spending for major categories to determine appropriate levels of spending to meet individual financial goals or prepare a budget.
SKILLS (Essential processes or skills, universally taught by all teachers in all courses; assessed with teacher-made rubrics and/or tests)
Major Categories of Skills
A. Cross-curricular and/or Integrative Skills
Key Elements: Student will know about, understand, and demonstrate the ability to
1. effectively communicate (listen, observe, read, write, discuss, present, explain, persuade, defend)
2. apply a variety of mathematical concepts and skills (logic, statistical interpretation, plotting and analyzing graphs, concluding, predicting trends) to solve common day-to-day problems
3. use a variety of higher order thinking skills (hypothesizing, estimating, analyzing, classifying, synthesizing, evaluating,inferring, generalizing) to solve common day-to-day problems
4. set and achieve goals (brainstorm, envision, plan, research, manage time, persist, complete)
5. produce quality products (plan, organize, draft, evaluate, revise, improve, persist, complete)
B. Technological Skills
Key Elements: Student will know about, understand, and demonstrate the ability to
1. use modern technology (computers, scanners, copiers, printers, audio/visual tools, telephones, fax machines, calculators) to solve common, day-to-day problems 2. apply basic computer applications (word processing, spreadsheet, database, graphics, desktop publishing, Internet, e-mail) to produce quality products, including
• multimedia presentations (speeches, demonstrations, lectures)
• reports, bids, proposals, instructions, manuals
• research polls, surveys, checklists
• graphs, tables, charts, maps, illustrations, photographs
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• letters (complaints, requests, replies, recommendations, applications, resumes)
• expository essays, research papers, literary works related to Consumer Education.
C. Life and/or Employability Skills
Key Elements: Student will know about, understand, and demonstrate the ability to
1. behave responsibly and produce quality products related to Consumer Education • attend, be punctual, follow directions, manage time, stay on task, meet deadlines • safely, effectively, efficiently, accurately use the work area, materials, tools, & technology
• set short and long-term goals, plan, use higher order thinking skills, seek help, persist
2. work well with others (cooperate, develop group unity, identify leadership roles, contribute to group success, allow others to contribute, resolve group conflicts, make group decisions)
3. relate Consumer Education content and skills to your personal life and the lives of others
• respect and treat others equally, from the perspective of the needs and rights of all people
• responsibily examine (be aware, know resources, research, consider, discuss) current Consumer Education issues and/or events that personally affect you or others
• effectively support opinions in productive ways (preplan, research, logically organize, give specific examples, illustrate, recommend)
4. use new knowledge, understanding, skills and tools to solve real life problems, make decisions or choices, and predict logical consequences or possibilities
5. acquire career knowledge and skills related to employment opportunities in consumer related organizations
• compare colleges, technical, or business schools (locations, size, costs, special programs)
• apply for admission, complete applications for scholarships or other financial aids
• develop a four-year schedule of classes, including alternatives for those not available
6. present oneself in an employable manner
• wear appropriate dress and be physically well-groomed • demonstrate good speaking and/or interviewing skills
• complete all written forms (letter of application, resume, required forms, legal documents)
• provide a portfolio that shows special products, skills, experiences, achievements, awards
D. Cultural Relevance:
Alaska Content Standards for Culturally Responsive Schools: Student Standards A-E
Key Elements: Student will know about, understand, and demonstrate the ability to
1. respect ones own cultural heritage, traditions, and language
• interview elders in order to compile personal genealogies and/or a local history
• identify local cultural values and traditional responsibilities to the environment
• respect and live in tune with local cultural values and traditions
2. build on local knowledge & skills to achieve future success in the world at large by
• using methods from ones own traditions to learn about the world beyond ones village
• understanding how the local culture relates to others in the area, state, nation, and world
• making appropriate choices regarding the long-term consequences of ones own actions
3. participate in a variety of traditional activities related to the local culture, including
• subsistence activities, arts & crafts, dance and music, sports and recreation
• community government, tribal, and church affairs
• total wellness programs (drug and alcohol free programs, parenting, nutrition, exercise)
4. engage in family-related activities based on traditional ways of knowing and learning, including
• consistent, respectful, loving interactions with Parents and Elders that show appreciation of their roles as providers and care givers, culture bearers, and educators in the community
• self-assess ones own strengths & needs in order to make appropriate life choices
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5. explain the processes, forces, and interactions of the world and its varied cultures, includinng the
• interrelationships of the spiritual, natural, and human world
• geographical and ecological resources of the local environment
• impact of the environment on the origins of culture and ones personal cultural perspective
• the nature of diversity and the need for change over time
• cross-cultural influences, interactions, conflicts, communications, and resolutions
INSTRUCTIONAL RESOURCES AND MATERIALS
A. Community Resources Related to Course
Each individual and/or team of instructors, with the help of long time staff, students, parents and other concerned community members should cooperatively compile and periodically update a list of village elders, parents, local government leaders, business persons, and other concerned, active members of the community willing to share their wealth of experiences, knowledge and skills.
B. Major Internet Web Site Addresses Related to Course (a tiny sample)
• Consumer
http://www.halifax.cbc.ca/streetcents/stox/
• Consumer
http://www.kn.pacbell.com/wired/bluewebn
• Business
http://www.thomson.com/swpco/bused.html
http://www.primarysources.msu.edu/curricula/lessons/manu/marketing/
http://www.aboutwork.com
http://www.cybf.ca
C. Media Center: Southwest Region School District
• Contact Roz Goodman, the Southwest Region Media Specialist, for help. She has lists of materials related to specific subject areas and will help you find Internet resources or other materials
• The Alaska State Framework for Employability Standards (This resource is full of suggestions for activities, teaching/assessment strategies, lesson plans, web site addresses etc.)
• Teaching Study Skills & Strategies in High School (includes activities); Active Learning: 101 Strategies to Teach Any Subject (includes activities)
D. Itinerant Travel Kits and/or Permanent Core Skills Instructors’ Materials
• Videos Related to Course
• Simulations and/or Activity Packets Related to Course
• CD ROMs/Software Related to Course
• Text and/or Supplemental Books Related to Course
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Instructional Delivery Guidelines for the ERS Collaborative Planning/Teacing Model are still “under construction”
Assessment Guidelines and Grading still “under construction” and awaiting additional in-put
Teacher-made tests will be required: pre-tests, daily and/or weekly quizzes, Unit Tests, Final Exams
Processes/Skills will be assessed with rubrics or checklists containing very specific criteria for student performance.
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(The Following Still Needs Input, Thought, and Work)
ASSESSMENT GUIDELINES AND GRADING
The primary goal of this class is to give all students an opportunity to gain essential new knowledge, comprehension, and skills. To determine if all students are actually attaining this goal, regular, in-progress assessment of student progress will be part of daily in-progress activities and final student projects.
• cooperatively develop traditional teacher-made daily/weekly quizzes, unit tests, and final trimester exams
designed to measure student knowledge and comprehension of basic course content.
• cooperatively plan and consistently apply a variety of student performance assessments (rubrics,
check-lists) to evaluate in-progress and summary student skill development.
CONTENT KNOWLEDGE TESTS
Minimum Requirements: At the very least, course Content will be regularly assessed with traditional
Teacher-made Tests (multiple choice, completion, true/false, matching, short essay).
• daily or weekly Quizzes should be given as part of normal, on-going classroom procedures.
• periodic reviews and subsequent summary Unit Exams will be given in every course.
• comprehensive reviews and summary Trimester Final Exams will be given in every course. • Unit and Trimester Final Exams should measure student retention and comprehension of the most important factual content (who, what, where, when, why, how) and improvement of basic skills (recall, reading, thinking, writing, calculating).
Suggestions:
• Pretest or use the test-study-test method rather than simply study-test. Pretesting at the start of a unit helps both students and teachers discover What They Already Know and What They Need to Learn.
• Wh en necessary develop individualized tests to account for individual learning styles and/or special learning difficulties. Consult Special Education teachers and counselors for help.
• Reteach and Retest when needed to improve and/or reinforce student knowledge and comprehension.
• Promptly grade and review results of all quizzes, tests, or exams. Students want, need, and have the right to quickly know how they have done on tests.
• Use tests as a teaching tool: require students to correct all factual errors and/or process mistakes.
• Teach students How to Take Tests. Important skills are involved and students need to learn them.
CRITERION-REFERENCED TESTS (CRT’s)
• Core Skills Language Arts and Mathematics teachers at the secondary level still have the duty of teaching, testing, and accurately recording student progress on the district's standardized CRT Tests and are accountable for accurately recording student progress on these tests.
• Note: Because all secondary teachers are members of collaborative teams, all secondary teachers are expected to assist their team partners help all students successfully complete, at the very least, Banks 7 and 8 of the CRT's.
STUDENT PERFORMANCE RUBRICS
• Rubrics will be used to better teach and assess the development of essential Skills (listening, reading, speaking, critical thinking,writing, research, cooperative group work, discussion, problem solving, decision-making, use of technology, social behavior, employability, social behavior/citizenship, cultural relevance) and to determine the quality of final products
• Rubrics must include clearly stated, easily understood directions, and specific information about what students will be expected to do and learn. Quality standards and deadlines should be included.
• Rubrics will be assigned at the beginning of any activity whose major objective is the acquisition and application of essential Skills. Carefully explain exactly how a particular rubric will be used.
• Use rubrics as a teaching tool. Teach all students how to use rubrics to self-assess the quality of their own work and/or that of their classmates--and their teachers.
EXTRA CREDIT WORK
In order to encourage students to pursue high level performances and quality products, all students who have completed required work, including any expected revisions, should be given an opportunity and encouraged to do Extra Credit work that might increase the depth and/or breadth of their understanding.
• Note that extra does not mean in place of; rather, extra means in addition to. Students should thus be allowed and encouraged to voluntarily complete additional, challenging tasks that might broaden or deepen their understanding.
• Assessment of Extra Credit work should follow the same systematic guidelines and/or utilize the same type of assessment rubrics, tests, or other techniques used to evaluate required work.
GRADING
All students will be held accountable for meeting the minimum requirements of all courses and will earn grades based on their ability to demonstrate the acquisition of basic content knowledge and comprehension, and their ability to apply specific essential skills to produce quality finished products. Final Grades in all courses will follow on a traditional “A”, “B”, “C”, “D”, “F”, “I”, system.
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