Mohawk High School

Mohawk High School Lesson Plan

Economics for the 21st Century

Grade 11, 12 Mr. Stobbs H113 Periods 2, 6/7, 9

Lesson Plan (Unit 1): Introduction to Personal Finance and Economics

Date(s):9/01/2014 – 9//05/14

Topic – Financial Responsibility and Money Management: responsible personal financial decisions are based upon reliable information and used to reach personal goals.

Topic – Fundamentals of Economics: Productive resources are limited and allocated in a variety of ways. An efficient way to allocate productive resources is through markets.

Content Statements:

· Financial decision-making involves considering alternatives by considering costs and benefits.

· A personal financial plan includes financial goals and a budget, including spending on goods and services, savings and investments, insurance and philanthropy.

· Different payment methods have advantages and disadvantages.

Objectives, Topic 1: At the end of this unit, students should be able to:

· Rationalize and discuss the need for financial education and training

· Identify key components of checking as a form of payment and a tool for budgeting

· Open a checking account

· Write a check

· Keep checkbook records

· Endorse a check

· Reconcile a bank statement

· Understand the role of checking accounts in 21st century Banking

· Establish a notional checking account for use in the course model economy throughout the year.

Objectives, Topic 2: At the end of this unit, students should be able to:

· Define and discuss the concept of scarcity in their daily lives.

· Explain the concept of opportunity cost.

· Explain and give examples of how individuals make economic decisions.at the margins.

· Explain and give examples of the role that incentives play in their economic lives.

Time Period (this plan): 4 class periods

Materials:

· Text: Thirty-Second Economics

· Text: Foundations in Personal Finance

· Workbook: Your Checking Account

· Syllabus

· White Board, Computer, Voice Amplifier

· Student Notebooks and pens, pencils

· Calculators

· Handouts: See individual activity plans for additional day-to-day requirements

Assessment:

· Practice Sets

· Quizzes

· Whole-class discussion

· Oral probes

Procedure: September 1 – 5, 2014

Monday: No School

Tuesday:

1. HOMEWORK DUE: Register to join Boundless Economics course “Economics for the 21st Century” (See online homework page for link) and complete reading assignment by Monday, 08/29.

2. DISCUSS READING ASSIGNMENT in advance of assigning online quiz.

Wednesday: NOTE: A.M. Activity Period

1. Assign Learning Support Teams.

2. Distribute cash, check registers, checks, and savings registers. Demonstrate use.

Thursday:

1. Continue from Wednesday.

2. Distribute checking account work books to students (one per pair).

3. ASSIGN BOUNDLESS.COM QUIZ “Individual Decision Making.” Students who do not complete the quiz online by COB on Friday will have to spend 20 minutes with me during study hall or after school on Monday, 9/8.

Friday:

1. Coordinate quiz make-ups.

2. Review lesson plan for next week.

3. Conduct final scrub of accounts, team assignments.