Federal Reserve: Navigating Fiscal and Monetary Policies

Strand & Standard: Strand 1: Standard 1
Class Time Needed: 75-90 minute Block Lesson Plan
Suggested grade level: 7-12

Overview:
Students will comprehend the role of the Federal Reserve and gain an understanding of fiscal and monetary policies.

Objective:

• To know and understand the role of the Federal Reserve

• Understand the concepts of Fiscal and Monetary Policy

GDP and Inflation

Strand & Standard: Strand 1: Standard 1
Class Time Needed: 45 minute lesson, 20 minute move activity
Suggested grade level: 7-12

Overview:
Students will learn about the four components of GDP and then explore how inflation impacts purchasing power over time. While playing an in-class game, students move around the classroom to guess how inflation has impacted a particular scenario.

Objective:

• Define and Explain GDP and inflation

• Understand the concept of inflation and its impact on the economy

• Analyze the relationship between GDP & inflation

• Apply knowledge of GDP and inflation to real-world examples

Invest with Stax Interactive

Strand & Standard: Strand 1: Standard 1, Stand 4: Standard 2, Strand 4: Standard 3
Class Time Needed: 90 minutes
Suggested grade level: 7-12

Overview:
Students will play the interactive game called Stax and see if they can beat the market in a 20-year period. Reflection questions will be answered after gameplay.

Objective:

• I can understand savings options

• I can diversify my portfolio

Opportunity Costs & Trade offs When Decision Making

Strand & Standard: Strand 1: Standard 1
Class Time Needed: Approx 45-60 min.
Suggested grade level: 7-12

Overview:
Students will play an online game called “SPENT” and experience what it’s like to live paycheck to paycheck. Game play will be followed with reflection questions and class discussion.

Objective:

• Students will apply knowledge learned about trade-offs and opportunity costs by playing a game called “Spent”

Scarcity & Opportunity Cost

Strand & Standard: Strand 1: Standard 1
Class Time Needed: 90 minutes
Suggested grade level: 7-12

Overview:
Students will actively assess their career aspirations, critically evaluate and compare diverse career opportunities aligned with their aptitudes and interests, and strategically plan their career path while gaining insight into the income potential associated with their chosen careers.

Objective:

• Define and explain the concepts of scarcity and opportunity cost.

• Understand how scarcity forces individuals and societies to make choices.

• Analyze real-world scenarios and apply the concepts of scarcity and opportunity cost.

In the Chips - Supply and Demand

Strand & Standard: Strand 1: Standard 1
Class Time Needed: 70-100 minutes (1 or 2 Class periods)
Suggested grade level: 7-12

Overview:
Students will be introduced to the concept of supply and demand. Next, students will play the game “In the Chips” to show how Supply and Demand works and how the market finds its equilibrium. The lesson will conclude with reflection and class discussion.

Objective:

• Understand the fundamental concepts of supply and demand

• Recognize their role in determining prices and quantities in the market Apply these concepts to real-world scenarios

Supply and Demand

Strand & Standard: Strand 1: Standard 1
Class Time Needed: 90 minutes
Suggested grade level: 7-12

Overview:
Students will define and explain the concepts of supply and demand, understand how changes in these factors influence prices, and analyze real-world scenarios.

Objective:

• Define and explain the concepts of supply and demand.

• Understand how changes in supply and demand affect prices.

• Analyze real-world scenarios to identify examples of supply and demand in action.

Economic System

Strand & Standard: Strand 1: Standard 2
Class Time Needed: 30 minute lesson, 14 minute for video and 30 minute discussion
Suggested grade level: 7-12

Overview:

Explain the difference between types of economic systems (Market, Mixed, Command, Communist, Socialist)

Objective:

• Explain to an elbow partner where socialism and communism fit on the continuum of command to market economies.

Comparison Shopping

Strand & Standard: Strand 2: Standard 1
Class Time Needed: 60-75 minutes
Suggested grade level: 7-12

Overview:
Using guided notes, students will learn what comparison shopping is, how it can help consumers, and when it makes sense to comparison shop.

Objective:

• Understand what comparison shopping is, how it can help consumers, and when it makes sense to comparison shop.

• Identify a variety of factors to consider when comparison shopping.

• Explain how using tools such as browser extensions and price matching can help them find the best deal.

• Consider the impact a consumer decision may have on the environment.

Influences on Purchasing Decisions

Strand & Standard: Strand 2: Standard 1
Class Time Needed: 20 minutes
Suggested grade level: 7-12

Overview:
Students will be able to explain some ways our brains trick us into making (or not making) purchase decisions.

Objective:

• Students will be able to explain some ways our brains trick us into making (or not making) purchase decisions.

Dollars and Sense: Reading Your Paycheck

Strand & Standard: Strand 3: Standard 1
Class Time Needed: 75-90 Minute Block Schedule Classes
Suggested grade level: 7-12

Overview:
Students will comprehend their paycheck, the voluntary and compulsory withholding of income, basic payroll concepts, and explanations of tax documentation.

Objective:

• To know and understand one’s paycheck and the voluntary and compulsory withholding of income thereto.

• Basic payroll concept knowledge and tax documentation explanation.

• The target is for 80% or more to score 80% or higher on these sections of the summative state test.

Evaluate Career Opportunities

Strand & Standard: Strand 3: Standard 1
Class Time Needed: 90 Minutes - Block Schedule Classes - split between at least 3 class periods
Suggested grade level: 7-12

Overview:
Students will investigate potential careers that match their aptitudes and interests.

Objective:

• Students will investigate potential careers that match their aptitudes and interests.

Career One Stop

Strand & Standard: Strand 3: Standard 1
Class Time Needed: 75-90 Minutes
Suggested grade level: 7-12

Overview:
Students will assess their career aspirations, evaluate and compare career opportunities based on aptitudes and interests, and plan a career while understanding the income potential of that chosen career.

Objective:

• To assess one’s career aspirations

• To evaluate and compare career opportunities based upon one’s aptitudes and interests

• To plan a career and understand the income potential of that career

Career Plan, Education Plan, Financial Aid, Resume & Job Interview

Strand & Standard: Strand 3: Standard 2
Class Time Needed: 2 or 3 class periods
Suggested grade level: 7-12

Overview:
In this mini-unit, students begin by creating a career plan and an education plan. After learning financial aid vocabulary concepts, students will play an online game called “Payback” to apply knowledge learned about paying for college. The activity concludes with students creating a personal resume and taking notes on job interview tips.

Objective:

• Students will explore careers, and select 2 occupations they have interest in.

• Students will explore colleges/trade schools and select 3 institutions they have interest in attending.

• Students will identify different types of financial aid available to pay for post-high training.

• Students will create a personal resume and learn some tips about job interviews.

Comparing Colleges

Strand & Standard: Strand 3: Standard 2
Class Time Needed: 90 minutes
Suggested grade level: 7-12

Overview:
Students will research different colleges they would potentially be interested in and then complete a college comparison worksheet.

Objective:

• Explain the difference between a career and a job 

• Identify money-making opportunities 

•  Identify career possibilities based on income, skills, and area of interest

Creating a Resume

Strand & Standard: Strand 3: Standard 2
Class Time Needed: 90 minutes
Suggested grade level: 7-12

Overview:
Students will identify key elements to include in a resume, discuss best practices, analyze another person’s resume, and write a first draft resume.

Objective:

• Identify key elements to include in a resume

• Discuss best practices in creating a resume

• Analyze another person’s resume

• Write a first draft resume

Evaluating savings methods and investment strategies

Strand & Standard: Strand 4: Standard All
Class Time Needed: 75-90 minutes
Suggested grade level: 7-12

Overview:
Students will gain a comprehensive understanding of savings vocabulary and products, the PYF concept, and the importance of preserving principles in the face of inflation.

Objective:

• Savings vocabulary and products

• PYF Concept

• Preserving principal is eroded by inflation (justification to invest)

Bank vs Credit Union

Strand & Standard: Strand 4: Standard 1
Class Time Needed: 120-150 minutes
Suggested grade level: 7-12

Overview:
In small groups, students will research and obtain information to compare services offered and rates between banks and credit unions. To conclude, students will present their findings and state why one might choose one over the other.

Objective:

• Understand, compare, and contrast banks and credit unions.

• Research and obtain information to compare services offered and rates between banks and credit unions.

• Present findings and state why you would choose one over the other. Also present 3 differences between banks and credit unions.

FDIC and NCUA Insurance

Strand & Standard: Strand 4: Standard 1
Class Time Needed: 60-75 minutes
Suggested grade level: 7-12

Overview:
In small groups, students role play financial institutions and consumers in order to learn the importance of FDIC and NCUA Insurance.

Objective:

• Understand the purpose and importance of FDIC and NCUA insurance.

• Identify and similarities and differences between FDIC and NCUA insurance.

• Understand what is and isn’t covered by FDIC and NCUA insurance.

Goals & Budgeting

Strand & Standard: Strand 4: Standard 1
Class Time Needed: 60 min.
Suggested grade level: 7-12

Overview:
Students learn the difference between short-term and long-term savings goals and apply their knowledge in an exercise-oriented game.

Objective:

• Understand the difference between short-term and long-term goals

• Begin to plan for spending and savings decisions that are aligned with personal goals

Peer to Peer Payments - Online Banking

Strand & Standard: Strand 4: Standard 1
Class Time Needed: 90 minutes
Suggested grade level: 7-12

Overview:
Reading an article, students learn about peer to peer payments. This lesson concludes with a blooket quiz played individually or as a class.

Objective:

• I know what a transaction fee is

• I can distinguish between multiple P2P services.

Invest with Stax Interactive

Strand & Standard: Strand 1: Standard 1, Stand 4: Standard 2, Strand 4: Standard 3
Class Time Needed: 90 minutes
Suggested grade level: 7-12

Overview:
Students will play the interactive game called Stax and see if they can beat the market in a 20-year period. Reflection questions will be answered after game play.

Objective:

• I can understand saving options

• I can diversify my portfolio

Exploring Investment Strategies: The ENGAGING STAX Game

Strand & Standard: Strand 4: Standard 3
Class Time Needed: 75-90 Minute Block Schedule Lesson
Suggested grade level: 7-12

Overview:
Students will comprehend saving and investing, understand the concept of risk versus reward, and gain knowledge about various investment types and vocabulary.

Objective:

• To know and understand the saving and investing

• Risk vs. reward

• Investment types and vocabulary

Retirement Plan Options

Strand & Standard: Strand 4: Standard 3
Class Time Needed: Approx 45-60 min.
Suggested grade level: 7-12

Overview:
In this lesson, students will learn about retirement plan options such as 401K plans, Roth IRA's and pensions. 

Objective:

• Understand what a 401(k) plan is and its advantages

• Explain the options available to them if an employer does not offer a 401(k) plan

• Conduct research to compare different types of retirement accounts, including Roth IRAs, traditional IRAs, 401(k)s, and pensions

Stock Market Game

Strand & Standard: Strand 4: Standard 3
Class Time Needed: 150 minutes
Suggested grade level: 7-12

Overview:
Students play the stockmarketgame.org in teams. After learning the basics, students research different companies and each team spends $100k on stocks.

Objective:

• Understand the relative dollar value of $100,000.

• Understand the consensus building process

• Cooperatively create rules for successful cooperation and consensus building

Who Wants to be a Millionaire? Understanding Compound Interest

Strand & Standard: Strand 4: Standard 3
Class Time Needed: Approx 90 min.
Suggested grade level: 7-12

Overview:
Students will define compound interest, distinguish it from simple interest, calculate compound interest using a compound interest rate calculator, and apply the concept to real-life scenarios.

Objective:

• Define compound interest and its importance in personal finance.

• Understand how compound interest differs from simple interest.

• Calculate compound interest using a compound interest rate calculator.

• Apply the concept of compound interest to real-life scenarios.

Insurance

Strand & Standard: Strand 4: Standard 4
Class Time Needed: 4-5 Class Periods
Suggested grade level: 7-12

Overview:
In this mini-unit, students learn basic vocabulary about insurance and then play an online game called “That’s a Bummer” to practice knowledge learned. Additional activities in this lesson include an insurance edpuzzle, video resources, reflection questions, and an insurance math worksheet.

Objective:

• Students will explain the purpose of insurance.

• Students will identify multiple types of insurance.

Budget Breakdown: High School vs. Adult

Strand & Standard: Strand 5: Standard 1
Class Time Needed: 90 minutes
Suggested grade level: 7-12

Overview:
Students will analyze monthly household expenses, explain the benefits of using a budget, and create a sample budget.

Objective:

• Analyze monthly household expenses

• Explain the benefits of using a budget

• Create a sample budget

Budget Categories

Strand & Standard: Strand 5: Standard 1
Class Time Needed: 45-60 minutes
Suggested grade level: 7-12

Overview:
While completing a digital worksheet, students will describe the purpose of a budget, classify expenses as needs and wants, and explain the difference between gross pay and net pay.

Objective:

• Students will identify different categories of a budget

Budgeting

Strand & Standard: Strand 5: Standard 1
Class Time Needed: approx 3 hours (2 block class periods)
Suggested grade level: 7-12

Overview:
Students will create a zero-budget from a projected salary for a career of their choice, practicing the PYF principle and learning realistic costs of living.

Objective:

• Students will create a zero-budget from a projected salary for a career of their choice.

• Students will practice the PYF principle.

• Students will learn realistic costs of living (utilities, etc.).

Financial Goals

Strand & Standard: Strand 5: Standard 1
Class Time Needed: 30 minutes
Suggested grade level: 7-12

Overview:
Students will learn about SMART financial goals and then complete a worksheet where they will set personal financial goals, both long and short term.

Objective:

• Students will explain the the difference between setting short-term goals and setting long-term goals.

• Students will explain each component of the SMART goal approach when setting financial goals.

Build Your Credit

Strand & Standard: Strand 5: Standard 2 & Strand 5: Standard 3
Class Time Needed: 75-90 minutes
Suggested grade level: 7-12

Overview:
Students will comprehend the essential steps involved in building credit.

Objective:

• To know and understand what it takes to build one’s credit.

Navigating Credit: Essential Concepts and Terminology

Strand & Standard: Strand 5: Standard 2
Class Time Needed: 75-83 minutes (block schedule class-time)
Suggested grade level: 7-12

Overview:
Students will comprehend essential credit concepts, emphasizing the purpose and role of credit, the significance of maintaining a healthy credit rating, and key terms including APR, grace period, late fees, finance charges, default rates, interest, and closing costs.

Objective:

• Explain the purpose and role of credit.

• Recognize the value of building and maintaining a healthy credit rating, considering elements of creditworthiness such as character, capacity, capital, collateral, and conditions.

• Define and understand key terms associated with credit, including APR, grace period, late fees, finance charges, default rates, interest, and closing costs.

Smart Credit Choices: Empowering Your Financial Journey

Strand & Standard: Strand 5: Standard 2
Class Time Needed: 75-83 minutes (block schedule class-time)
Suggested grade level: 7-12

Overview:
Students will be able to explore credit-related concepts and tools, delving into key terms including credit, credit cards, installment loans, revolving credit, student loans, mortgage, payday loans, predatory lenders, and simple interest in this lesson.

Objective:

• Students will analyze the different types of credit options available, such as credit cards, installment loans, and mortgages, and understand their respective advantages and disadvantages in making informed credit choices.

• Students will apply the concept of simple interest by using a simple loan payment calculator, gaining practical experience in understanding how interest is calculated and its impact on credit transactions.

Understanding Credit: The 5 C's and Long-Term Consequences

Strand & Standard: Strand 5: Standard 2
Class Time Needed: 75-150 minutes depending on length of discussion, and time to complete notes and manipulative
Suggested grade level: 7-12

Overview:
Students and explores the fundamental concepts of credit, creditworthiness, and the long-term consequences of financial decisions.

Objective:

• The purpose and role of credit.

• The value of building and maintaining a healthy credit rating, including elements of creditworthiness: character, capacity, capital, collateral, and conditions.

• Be able to analyze the long term adverse consequences to making minimum only payments on debt.

• Be able to contemplate the role of the co-signer and collateral on credit.

Buying and/or Leasing a Vehicle

Strand & Standard: Strand 5: Standard 4
Class Time Needed: 60-75 minutes
Suggested grade level: 7-12

Overview:
Using guided notes, students will explain the pros and cons of leasing a car and buying a car. Students will also understand the costs of monthly payments and why they differ between buying and leasing.

Objective:

• Explain the pros and cons of leasing a car and buying a car.

• Read a car lease agreement to understand costs, restrictions on use, and what happens at the end of an auto lease.

• Understand the costs of monthly payments and why they differ between buying and leasing.

Exploring Homeownership: Rights, Responsibilities, and Qualification Factors

Strand & Standard: Strand 5: Standard 4
Class Time Needed: 75-90 minutes (1 Block Schedule Lesson)
Suggested grade level: 7-12

Overview:
Students will be able to understand the processes, rights, and responsibilities of renting, leasing, and purchasing a home. Identify key qualification factors for homeownership, including debt-to-income and loan-to-value ratios, and comprehend the roles of professionals in the home-buying process.

Objective:

• Identify the process, rights, and responsibilities to renting, leasing, and purchasing a home.

• Understand the primary qualification factors: debt-to-income ratio; loan-to-value; and the roles of professionals involved in the home-buying process.

FAFSA Outcomes

Strand & Standard: Strand 5: Standard 4
Class Time Needed: 45 minutes
Suggested grade level: 7-12

Overview:
Students will demonstrate the ability to explain five potential ways to pay for school, including detailing the four outcomes of the FAFSA and the 529 Plan.

Objective:

• Students will be able to explain 5 potential ways to pay for school.

Consumer Protection Laws

Strand & Standard: Strand 5: Standard 5
Class Time Needed: 45-60 minutes
Suggested grade level: 7-12

Overview:
Students will be able to identify methods used by predatory lenders for prevention, comprehend basic consumer rights, and demonstrate knowledge of filing complaints when these rights are violated. Additionally, students will understand tactics employed by predatory lenders and be equipped with the skills to avoid falling victim to them

Objective:

• Identify methods of predatory lenders (prevention)

• Know basic consumer rights and how to file complaints when these rights are broken/violated

• Understand tactics of predatory lenders to make more money off of consumers (be able to avoid)

Fraud and Online Scams

Strand & Standard: Strand 5: Standard 5
Class Time Needed: 60-75 min.
Suggested grade level: 7-12

Overview:
Students will learn how to spot scam, find examples of online scams and learn how to recognize and protect themselves from questionable behavior.

Objective:

• Students will learn how to spot scams.

• Students will find examples of online scams.

• Students will learn what to do if they spot a scam.

• Students will learn how to recognize and protect themselves from questionable behavior.