Course
Profile Introduction to Business,
Grade 9 or 10 open, Public
Unit 1
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Acknowledgments
Writing Partnership Lead Board: Toronto District School Board
Course Profile Writing Team
Lori Cranson, Lead Writer, Toronto
District School Board
Doug Ritchie, Toronto District School
Board
Tom Truesdale, Toronto District School
Board
Terry Murphy, Retired, formerly Frontenac
County Board
Michael Liepner, Retired, formerly York
Region District School Board
Project Manager: Madeline Dennis, Toronto District School Board
Internal Reviewer: Jane Phillips, Toronto District School Board (ESL and
Special Ed)
Unit #1: Personal Finance
Activity 1 | Activity 2 | Activity
3 | Activity 4 | Activity 5 | Activity 6
Time: 35.5
hours
Development
Date: March 1, 1999
Unit Description
Students will explore the dimensions of
personal finance including income sources, budgeting, financial planning and
the use of credit. Through this exploration, students will identify educational
requirements to achieve the level of income desired; examine work and
employability skills to ensure personal growth and development; and examine
financial goals and the strategies to achieve them.
Strand and Expectations
Strand: Personal
Finance and The Role and Impact of Business
Overall
Expectations
Students will:
RBV.01X demonstrate
an understanding of how businesses respond to needs, wants, and demand;
PFV.09X distinguish
the various ways in which individuals and households acquire income and other
benefits;
PFV.10X develop
skills in managing personal income effectively, such as budgeting, planning,
saving, and investing;
PFV.11X analyze
the role and importance of consumer credit.
Specific
Expectations
Needs,
Wants, and Demand
Students will:
RB2.01X describe
the concept of demand and the conditions that give rise to demand;
RB2.02X explain
how needs, wants, and demand create opportunities for business;
RB2.03X compare
the ways in which different companies address similar consumer needs and wants.
Income
and Benefits
Students will:
PF2.28X summarize
the various ways in which individuals and households acquire income (e.g.,
employment, saving, investing, social programs);
PF2.29X describe
the major factors that can influence a jobs income level (e.g., experience,
education, personal performance, uniqueness of abilities, success of the
business);
PF2.30X describe
other benefits of a job in addition to income (e.g., skill development, self
fulfilment, pension, health insurance).
Personal
Financial Skills
Students will:
PF2.31X distinguish
the various ways of using income (e.g., spending, saving, investing, donating);
PF2.32X identify
the types of expenses, including taxes, that individuals and households
typically incur;
PF2.33X identify
the criteria required for making effective purchasing decisions (e.g., cost,
quality, guarantees, service, money available, product information);
PF2.34X evaluate
the products and services offered by major Canadian financial institutions;
PF2.35X explain
how fluctuations in interest rates affect saving, investing, and spending
decisions;
PF2.36X identify
various types of investment alternatives (e.g., GICs, stocks, bonds, mutual
funds);
PF2.37X compare
the benefits of saving and investing;
PF2.38X demonstrate
an understanding of the factors that will affect the value of money over time
(e.g., compounding interest, rate of inflation, saving, investment decisions);
PF2.39X develop
personal budgeting and financial planning skills through the use of appropriate
software.
CC2.21X identify
key employability skills.
Consumer
Credit
Students will:
PF2.40X discuss
the advantages and disadvantages of consumer credit;
PF2.41X describe
the process of establishing a personal credit rating and applying for and
obtaining credit;
PF2.42X calculate
the total cost of credit on a variety of loans.
Activity Titles, Time and Sequence
|
Activity #1 |
Understanding Needs, Wants, and Demand |
7.0 hours |
|
Activity #2 |
Earning and Spending |
3.5 hours |
|
Activity #3 |
Investing |
9.5 hours |
|
Activity #4 |
Credit: Whats It All About? |
6.0 hours |
|
Activity #5 |
The Cost of Borrowing |
2.5 hours |
|
Activity #6 |
Putting It All Together |
7.0 hours |
Prior Knowledge Required
Mind
mapping
Construction of a Timeline
Use of a spreadsheet
Addition, subtraction, multiplication and
division
Use of a calculator
Unit Planning Notes
Review the Planning Notes for each
activity and prepare a checklist of
guest speakers, suggested resource materials, and handouts before starting the
unit. Since several of the Teaching/Learning Strategies listed are described in
the Course Notes, read the course notes to familiarize yourself with these
activities.
Teaching/Learning Strategies
Activity
Based
Discuss
Concentration Game
Interview
Oral presentation
Thinking
Skills
Treasure
Chest
Brainstorm
Mind
mapping
Dictionary
of Key Words
Response journals
Independent
Learning
Note
Making Guide
Timeline
Research
Cooperative
Learning
Small Group Discussion
Combined Groups
Direct
Instruction
Demonstration
Guest Speaker
Spreadsheets
Focused questioning
Worksheets
Assessment/Evaluation
Refer to the course overview for the
purposes of evaluation. The methods used in this unit are:
1. Formative assessment of collage and presentation,
Appendix B 1.1
2. Summative assessment of unit terminology
3. Formative assessment of group interaction
4. Anecdotal feedback from teacher and class on mind maps and product research
5. Formative assessment of contributions to the
dictionary of key words
6. Formative assessment of student response
journals
7. Assessment of timeline for evidence of
cause-and-effect relationships between changes in the student's life and
choices from the Treasure Chest
8. Summative test on unit
9. Summative assessment of budget using handout
B 1.4
10.
Peer evaluation of cooperative group work
11.
Formative observation by the teacher of group interaction
12.
Interview completed
13.
Summative quiz to review terminology
14.
Summative rubric for peer evaluation of group presentations (see Appendix B
1.3)
Resources
1. The World of Business
2. The World of Business video series
3. Exploring Business
4. Demystifying Thinking
5. Marketing: A Global Perspective
6. www.rc.gc.ca
7. Money and Youth
8. Choices & Decisions
9. Stock Market Place Education Program
10.
Daily newspaper
11.
www.tse.com
12.
A Financial Guide for Students, Money 101, Ontario Association of Credit
Counselling Services
http://www.creditcanada.com,
1-800-267-2272
13.
Your Money, Your Life, Your Way!, Ontario Womens Directorate
14.
Managing Money, Canadian Bankers Association, 1-800-263-0231, www.cba.ca
15.
Statistics Canada, www.statcan.ca
Activity #1: Understanding Needs, Wants and Demand
Time: 420 minutes
Description
Students will distinguish among the terms
needs, wants and demand. They will describe the concept of demand and the
conditions that give rise to it. Throughout this unit, team building will be
emphasized.
Strand and Expectations
Strand: The
Role and Impact of Business
Overall Expectation
Students
will:
RBV.01X demonstrate
an understanding of how businesses respond to needs, wants and demand.<
Specific Expectations
Students
will:
RB2.01X describe
the concept of demand and the conditions that give rise to demand;
RB2.01X explain
how needs, wants and demand create opportunities for business;<
RB2.01X compare
the ways in which different companies address similar consumer needs and
wants.<
Planning Notes
Ensure students start collecting items for
the collage in advance of when they are required.
Be prepared to supplement the supply of
media resources by having a large supply of magazines and newspapers available
in the classroom. Request assistance gathering these periodical resources from
other staff including the teacher librarian.
Prepare the Maslows Hierarchy of Needs
material.
Prior Knowledge Required
Construction of an electronic spreadsheet.
Teaching/Learning Strategies
1. The teacher will lead a discussion to bring
out the distinctions between needs and wants and how both relate to demand
which in turn, creates opportunities for business. (Appendix A 1.1)
2. The teacher will demonstrate the problem of
multiple word meanings by using such related words as: needs, wants, demand.
3. The students will look up the meanings of
these words in several sources, including a standard dictionary, an
encyclopedia and a classroom text.
4. The teacher will provide students with a
supply of index cards to create a Dictionary
of Key Words. The teacher will demonstrate the entry format for the
definition of the key words from #1, giving the subject-specific meaning
only. Drawings and diagrams may also be
used. The students will complete their analysis of the key words, record
subject-specific definitions on their cards and alphabetize the cards.
5. In small groups, the students will compare
their key word searches and exchange entries. The teacher will remind students
to keep their cards in a safe place as they will refer to them throughout the
course. (see Course Notes)
6. To facilitate students getting to know each
other and working as a team, the teacher will use an icebreaker activity such
as People Bingo. This strategy will also introduce students to the distinction
between needs and wants.
People
Bingo (see Appendix A
1.2)
1. Hand
each player a grid sheet and pencil.
2. Students must go around the room and find
other students who fit the description on each square of the grid. The other
student then signs that square. Students may sign each persons paper only
once.
3. The game is over when a student has all
squares signed.
7. The students will brainstorm their needs and
wants. This may also be done in a Think-Pair-Share exercise.
8. The teacher will introduce Maslows Hierarchy
of Needs. The students will classify the needs identified in #7 using this
theory and construct an electronic spreadsheet to record this strategy. The
students will create and label a pie graph or bar graph to visually represent
the findings.
9. The students will create a collage to
illustrate needs, wants and demand using the media resources collected earlier.
The students will include the computer graph generated for Maslows Hierarchy
of Needs into the collage. Prior to starting this activity, the teacher will
introduce the Rubric Assessment tool, Appendix B 1.1. Using the Presentation
Rubric, the students will identify the key criterion to be assessed in this
activity.
Assessment/Evaluation
Techniques
1. Formative assessment of collage and
presentation, Appendix B 1.1 (RBV.01X, RB2.03X))
2. Summative assessment of unit terminology,
Appendix B 1.2 (RB2.02X)
Resources
1. The World of Business, pages 1527
2. The World of Business video series, Unit 1,
Program 1
3. Exploring Business, pages 69; pages 143152
4. Demystifying Thinking, pages 150151
5. Marketing: A Global Perspective, pages 6466
Accommodations
1. Assist students with the interaction required
in People Bingo.
2. Prepare a note outline for students to follow
the discussion on needs, wants, and demand.
3. Provide the opportunity for students to use
computer facilities in the school. This may also include providing one-on-one
assistance. Students familiar with spreadsheets should be encouraged to provide
peer coaching.
4. Pair written instructions with verbal
instructions to create a Dictionary of
Key Words.
5. Use key visuals to illustrate definitions and
encourage use of first language/English dictionary for developing the students
dictionary of key words.
Activity #2: Earning and Spending Personal Income
Time: 210 minutes
Description
Students will learn how individuals and
households acquire income and analyze the factors that affect a jobs income
level and other benefits. Students will investigate expenditures that
individuals and households incur and learn how to make informed purchasing
decisions.
Strand and Expectations
Strand: Personal
Finance
Overall
Expectations
Students will:
PFV.09X distinguish
the various ways in which individuals and households can acquire income and
other benefits.
Specific
Expectations
Students will:
PF2.28X summarize
the various ways in which individuals and households acquire income (e.g.,
employment, saving, investing, social programs);
PF2.29X describe
the major factors that can influence a jobs income level (e.g., experience,
education, personal performance, uniqueness of abilities, success of the
business);
PF2.30X describe
other benefits of a job in addition to income (e.g., skill development,
self-fulfillment, pension, health insurance);
PF2.31X distinguish
the various ways of using income (e.g., spending, saving, investing,
donating);<
PF2.32X identify
the types of expenses, including taxes, that individuals and households
typically incur;<
PF2.33X identify
the criteria required for making effective purchasing decisions (e.g., cost,
quality, guarantees, service, money available, product information).<
Planning Notes
Obtain a T1 General tax form and make
copies of page two for students.
Invite a guest speaker and brief your guest
on the topic you wish to be presented.
Obtain a supply of newsprint or flip chart
paper.
Prior Knowledge Required
Mind
mapping
Teaching/Learning Strategies
1. The
teacher will organize the class into small groups. The teacher will distribute
copies of page two of T1 General tax form to each student and discuss and
explain each category of income on the form. Working in groups, the students
will categorize sources of income as employment income, self- employment
income, investment income and government transfers. The teacher will place a
transparency of the T1 form on the overhead and reach a consensus as a class on
the categories of income. The teacher will ask the class if there are any
sources of income that have been missed and list these.
2. The
teacher will invite a human resources person/business owner to visit the class
and make a presentation on the factors that can influence a job's income level
and to describe the benefits of a job other than income. Request the speaker to
put the presentation into context by first describing the culture of the
organization. The teacher will distribute the Note Making Guide to students.
3. The
teacher will use the Note Making Guide to
debrief the students on what they have learned from this speaker and what
questions remain.
4. The
teacher will describe to the class the four ways of using income as spending,
saving, investing and donating. The
teacher will organize the class into groups and have each group prepare a mind map that identifies the types of
expenses (e.g., spending) incurred by individuals and households. The groups
will post their results and present their work to the class.
5. The
students will identify items, such as a car, that would represent major
purchases for an individual or household. The students will brainstorm the
criteria for making effective purchasing decisions and discuss ways that a
person could research a major purchase. Each group will choose a product to
research and identify a different source of research to be used by each group
member. Students will research the product and the group will present its
findings using newsprint or flip charts.
Assessment/Evaluation Techniques
1. Formative assessment of group interaction
(PF2.31X)
2. Anecdotal feedback from teacher and class on mind maps and product research (PF2.32X,
33)
Resources
1. www.rc.gc.ca (for T1)
2. Money and Youth, pages 3137 and 96104
3. Choices & Decisions, Lessons 1, 2 and 8
4. The World of Business, pages 5052, 380395,
448463, 552553
Accommodations
1. Organize balanced groups that reflect the
diversity of the class.
2. The teacher participates in the groups and
contributes, listens, and encourages others.
3. Provide Note
Making Guide in advance for guest speaker presentation.
4. Highlight key words and phrases and provide
new vocabulary in advance.
Activity #3: Investing
Time: 660 minutes
Description
Students will compare the products and
services offered by major Canadian financial institutions and evaluate the investment opportunities
offered by these institutions. They
will understand the effect on investments of fluctuating interest rates by making
their own investment decisions. The investment opportunities examined will
include GICs, stocks, bonds and mutual funds.
Strands and Expectations
Strand: Personal Finance
Overall Expectations
Students
will:
PFV.10X develop
skills in managing personal income effectively such as budgeting, planning,
saving, and investing.<
Specific
Expectations
Students will:
PF2.34X evaluate
the products and services offered by major Canadian financial institutions;<
PF2.35X explain
how fluctuations in interest rates affect saving, investing, and spending
decisions;
PF2.36X identify
various types of investment alternatives (e.g., GICs, stocks, bonds, mutual
funds);<
PF2.37X compare
the benefits of saving and investing;<
PF2.38X demonstrate
an understanding of the factors that will affect the value of money over time
(e.g., compounding interest, rate of
inflation, saving, investment decisions).
Planning Notes
Obtain brochures from several financial
institutions on a complete range of the institutions' consumer products and
services for inclusion in the Treasure
Chest.
Prepare a checklist of financial services
and products.
Order the Stock Market Place Education
Program from the TSE by calling 416 947-4676, 416 947- 4674, 1 888 TSE-8392 or send an e-mail to
learn@tse.com.
For all stock market activities, use the
Toronto Stock Exchange listing.
Prepare transparencies from Capital Markets
Part 1 located after the evaluation form in the Stock Market Place Education
Program.
Prepare a transparency from the stock
market tables of a newspaper.
Copy handout A1.5.
Invite a speaker and brief him on the
topics to be addressed.
Research prices and wages for
Teaching/Learning Strategy #7.
Prior Knowledge Required
Use of a spreadsheet
Construction of a timeline
Teaching/Learning Strategies
1. The
students will select a brochure from
the Treasure Chest and write their
names on the checklist. They then
select a brochure on the same product or service from a competing
financial institution and research the
meaning of the products/services and compare and contrast the features offered
by two competing institutions. Students will organize their findings for posting
on the bulletin board and a brief presentation to the class. Students will do a
"walkabout" and choose which terms to add to their dictionary of key
words.
2. Students
will construct a timeline which predicts their personal futures from the
present to retirement. As circumstances change in their lives, the students
will add to or delete from the timeline items from the Treasure Chest. See sample A1.4 in appendix.
3. The
teacher will use the transparencies from
Capital Markets Part 1 to introduce the Toronto Stock Exchange to the
students. The teacher will explain how to read the stock pages using the
transparency prepared.
4. The
teacher will divide the class into small groups and give each class current
copies of stock pages (TSE) from a newspaper. Each group will select the names
of four stocks. One of these choices should be a company that they recognize
and the other three should be names of companies that they dont recognize. The
teacher will give each group member the Personal Portfolio handout and the
students will record the stock symbols
that they have chosen.
The teacher will :
Tell each group they have $100,000 to
invest in their chosen stocks.
Stipulate a minimum $10,000 investment in
any one stock.
Choose four stocks and illustrate how a group might invest its
$100,000. Have each group decide how to invest its $100,000 and record its
decisions on the Personal Portfolio.
Explain that each group will track its
stocks for ten weeks using its Personal Portfolio handout and the stock tables
from the newspaper or by using the Internet. Allocate time over the next ten
weeks for tracking the stocks.
Describe the steps required to get a quote
online: www.tse.com; select "quote
look-up"; type stock symbol; select "get quote."
Arrange for the students to obtain an
online quote which will provide them with the names of their chosen stocks and
up-to-date trading information.
Individual students will record weekly
their stocks' performance and verify their findings with their group members.
At the end of the ten weeks, each group
will record:
the
final value of its portfolio;
the
net gain or loss;
the
dates and values at which the portfolio reached its highest and lowest values;
the
dates and prices for the individual highs and lows for each stock.
The students will track the performance of
their personal portfolios on a spreadsheet and graph the results.
5. The
teacher will invite a financial planner or advisor to the class and request
that the speaker explain how the values of different investments have
fluctuated over time and illustrate the effect that inflation has on the value
of investments. Ask the guest to
explain how the benefits of savings and investment instruments vary
depending on the circumstances of the investor. The teacher will distribute the
Note Making Guide and the students
will write journals as a response to the speaker. The teacher will debrief
students on the presentation by the speaker.
6. The
teacher will ask students if there are times when saving is more important than
investing. The students will revise their timelines to reflect what they have
learned from the financial planner.
7. The
students will brainstorm a list of common items and then price these items.
After selecting one item to research,
students will talk to adults and ask what they paid for this item when they
were in grade nine. The teacher will construct a chart of the students' findings and add two items that you have
researched such as the salaries of the CEO of a major corporation and a police
officer.
8. The
teacher will explain the calculations
of simple and compound interest and the students will work on sample problems
that illustrate the differences between the two methods.
Assessment/Evaluation Techniques
1. Formative assessment of contributions to the
dictionary of key words (PFV.10X)
2. Formative assessment of student response
journals reflecting on the guest speaker (PF2.37X)
3. Assessment of timeline for evidence of cause
and effect relationships between changes in the student's life and choices from
the Treasure Chest (PF2.34X)
4. Summative test on unit
(PFV.10X;PF2.34X,36,37)
Resources
1. Pamphlets and brochures from several
financial institutions
2. Helping you Bank (CBA)
3. The Money Coach
4. The Wealthy Barber
5. The World of Business video series Units 4
& 5 Programs 2 & 3
6. Stock Market Place Education Program
7. Daily newspaper
8. www.tse.com
9. Demystifying Thinking, pages 445
10.
Exploring Business, pages 21453
11.
Choices & Decisions, lessons 5 and 11
Accommodations
1. Peer assistance for Internet stock search.
2. Pair students that are weak in English so that
they can brainstorm in their first language.
3. Put formulas for compound interest on
worksheets.
4. Modify unit test to accommodate special
needs.
5. Provide models of charts, timelines or
diagrams.
6. Provide electronic resources to prepare
assignments.
Activity #4: Credit: Whats It All About?
Time: 360 minutes
Description
Students will learn the various forms and
uses of credit. The advantages and disadvantages of credit will be explored,
along with the importance of obtaining and maintaining a good credit rating.
Students will be able to calculate the total cost of credit on a variety of
loans. Students will develop a personal budget and financial plan using
appropriate software.
Strand and Expectations
Strand: Personal Finance
Overall
Expectation
Students will:
PFV.11X analyze
the role and importance of consumer credit.<
Specific
Expectations
Students will:
PF2.40X discuss
the advantages and disadvantages of consumer credit;<
PF2.41X describe
the process of establishing a personal credit rating and applying for and
obtaining credit;<
PF2.42X calculate
the total cost of credit on a variety of loans.<
Planning Notes
Prepare Concentration Game as per
Teaching/Learning Strategy 1.
Copy Handout A 1.6 for students to use as a
guideline for interviews.
Obtain applications for a credit card,
charge card, loan, mortgage.
Invite guest speaker and brief on topic
request.
Prepare lesson materials for instructional
topics.
Copy student prepared handouts.
Prior Knowledge Required
None
Teaching/Learning Strategies
1. The
teacher will use a version of the game Concentration for introducing
terminology related to credit and its use. Prepare the game surface by creating
a grid of twenty squares, each about half the size of a standard sheet of
paper. Number them one through twenty and tape them to a flip chart or chalk
board from the top, so they can be easily lifted to reveal what is behind them.
Write each of the following terms on a Post-it note, record their definitions
on 10 more Post-it notes. Place them randomly, one under each game square.
Divide the class into teams of two to four. Teams take turns, choosing to
reveal the first number, then another. The object is to select a term and its
definition on the same turn. If a team succeeds, its turn continues. The game
ends when all the matches have been made. Multiple rounds can be played by
replacing the Post-its with different ones, prepared in advance.
credit
interest
principal
credit card
impulse buying
loan
mortgage
three cs of credit
credit rating
charge account
2. When
the Concentration Game is finished, the students will record definitions in
their Dictionary of Key Words.
3. In
small groups, the students will brainstorm the influences that lead to impulse
buying. The teacher will ask "What are the implications of this?"
4. The
teacher will write: Shakespeare wrote Neither a borrower nor a lender be on
the chalk board. The teacher will ask students: What did he mean by this? Was
Shakespeare referring to credit when he wrote this? If we were to apply this
quote to the use of credit, what would it mean? Do people live by this adage
today? Discuss as a whole class. The teacher will include a discussion about
misconceptions when a quote is taken out of context.
5. The
teacher will distribute Handout A 1.6. And ask students to interview a family
member, neighbour, teacher or community member using the handout as a guide.
6. In
groups of four, the students will prepare a list of benefits of credit and
challenges of credit, based on the information gathered through the interviews.
7. The
teacher will combine groups to merge lists.
Share combined lists with the whole class and discuss each of the benefits and
challenges.
8. The
teacher will review the three cs of credit: character, capacity and
collateral.
9. The
students will review: credit card applications, charge card applications, loan
applications and mortgage applications and categorize the questions under the
headings of the three cs of credit. The class will discuss why a lender wants
to know this information.
10. The teacher will describe the process
of establishing a personal credit rating and the consequences of not fulfilling
obligations.
11.
The teacher will invite a credit manager to visit the class. Ask the guest to discuss how to apply for credit,
questions asked of applicants in an interview, how clients get into difficulty
using credit and some solutions. The teacher will distribute the Note Making Guide.
12.
The teacher will introduce the different forms of credit: revolving credit
cards, charge cards, lines of credit,
consumer loans and mortgages and divide students into five groups, assigning
one type of credit to each group. Each group will research the type of credit
to determine: who offers this type of credit, credit limits, payment
requirements, interest rates, method of interest calculation, fees and
accessibility. Students will compare the credit offerings from two different
companies in the category. Each group
will prepare a handout and present its findings to the class.
Assessment/Evaluation
Techniques
1. Peer evaluation of cooperative group work
(PFV.11X)
2. Formative observation by the teacher of group
interaction (PF2.40X)
3. Interview completed (PF2.41X)
4. Summative quiz to review terminology
(PFV.11X)
5. Summative rubric for peer evaluation of group
presentations (see Appendix B 1.3) (PF2.42X)
Resources
1. Money and Youth, pages 7993
2. World of Business, pages 323376
3. Exploring Business, pages 426440
4. A Financial Guide for Students, Money 101,
Ontario Association of Credit Counselling Services http://www.creditcanada.com, 1-800-267-2272
5. Your Money, Your Life, Your Way!, Ontario
Womens Directorate
6. Managing Money, Canadian Bankers Association,
1-800-263-0231, www.cba.ca
7. Statistics Canada, www.statcan.ca
8. Choices & Decisions, Lessons 6, 7 and 12
9. World of Business, Video Series Units 4 &
5
Accommodations
1. Prepare written outlines of important
information.
2. Provide handouts for research and interview
activities.
3. Enable students to use school computers to
access Internet sites, research using e-mail and prepare assignments.
4. Provide opportunities for modification of
summative assessment.
Activity # 5:
The Cost of Borrowing
Time: 150
minutes
Description
Students will calculate and compare the
costs of borrowing.
Strand
and Expectations
Strand: Personal
Finance
Specific
Expectation
Students will:
PF2.42X calculate
the total cost of credit on a variety of loans.<
Planning
Notes
Prepare instruction notes for teaching
total cost of credit.
Prepare worksheet for students to practise
calculating interest in various scenarios.
Prepare a spreadsheet and reserve LCD panel
for use in class.
Meet with the Grade 9 Mathematics Teacher
to discuss how this topic can be integrated for both subject areas.
Prior
Knowledge Required
Addition, subtraction, multiplication and
division
Ability to use calculator
Teaching/Learning
Strategies
1. The
class will review the handouts prepared by students in Activity #4 on the
different forms of credit. The teacher will use a computer and project a table
onto a screen for students to see the comparison in interest rates.
2. Using
the table, the teacher will discuss the range of interest rates and the factors
that affect the interest charged: term, amount borrowed, risk factor of
borrower, security (collateral), current rates in the economy, anticipated
inflation, convenience of borrowing, who the lender is and demand for
product/service.
3. The
students will select words for the Dictionary
of Key Words.
4. Have
students select three advertisements from the local newspaper that advertise
financing available. Using these samples create a chart to demonstrate how the
total cost of credit is calculated in various circumstances. Some suggestions:
Car loan with various down payments
Car lease with the same down payments
Furniture with no money down, no payments
for 12 months
Use the Multiple Listing Service Internet
site to demonstrate the total cost of real estate with 5 % down, balance paid
over 15 years, 20 years, 25 years.
5. Distribute
worksheet A 1.7 for students to
complete giving various scenarios of credit costs. Have students complete the
exercise using either a calculator or a spread sheet on the computer. Have
students hand in completed worksheets.
Assessment/Evaluation
Techniques
1. Formative evaluation of worksheets (PF2.42X)
2. Summative quiz on the total cost of credit
(PF2.42X)
Accommodations
1. Provide students with formula(s) on
worksheet.
2. Provide new vocabulary in advance.
3. Provide opportunities for modification of
summative assessment.
4. Pair student with a peer tutor and use peer
conferencing to reinforce instructions/information.
Resources
1. www.mls.ca
2. The World of Business, pages 323376
3. Exploring Business, pages 426440
4. Money and Youth, pages 7993
Activity # 6: Putting it all Together!
Time: 330 minutes
Description
Students will practise developing a
personal budget and financial plan based on career and lifestyle choices.
Strands
and Expectations
Strands: Personal
Finance and Conducting Business in a
Competitive Marketplace and the Changing Workplace
Specific
Expectations
Students will:
PF2.39X develop
personal budgeting and financial planning skills through the use of appropriate
software;<
CC2.21X identify
key employability skills.
Prior
Knowledge Required
None
Planning
Notes
Bring copies of career section of newspaper
to class.
Obtain a copy of the Conference Board of
Canadas Work and Employability Skills Profile.
Invite a teacher from student services to
conduct an interest inventory with students.
Teaching
Learning/Strategies
1. The
teacher will invite teacher from student services to administer an interest
inventory survey with students.
2. Based
on the results of the interest inventory, students will think about the type of
work they are interested in for a career. The students will review the career
sections and select a position that fits their interests.
3. The
teacher will introduce the Conference Board of Canadas Work and Employability
Skills Profile to the class. Working in groups of four, students will list the
qualifications requested in each of the positions selected in #2 and categorize them according to the Work
and Employability Skills Profile.
4. Students
will identify a personal goal to work on from the Work and Employability Skills
Profile. Students will write the personal
goal and a plan to achieve it in their Response
Journal.
5. Using
the career advertisements, students will identify salary levels for their
chosen career.
6. The
teacher will distribute the budget outline in Handout A 1.8. and review
budgeting, the format and categories with students.
7. Students
will review their financial planning timelines constructed in Activity #3.
Using the salary expectations of their career goal and the financial planning
goals from the timeline, students will prepare a budget with appropriate
software. Students can use the classified and display advertisements from
newspapers to determine costs of housing, food, furniture, entertainment and
transportation. Students may have to ask family members to assist them in
determining some costs.
8. Working
in pairs, students will share their budgets. The teacher will ask them to
discuss how the budget can help them accomplish their personal and financial
goals.
9. Students
will reflect on their learning by writing the responses to the following
questions in their response journals:
What did you learn that you did not already know? How can you connect this new
learning to what you already know? How can you apply your new learning? How can
you ensure your personal financial safety when considering your financial
goals?
Assessment/Evaluation
Techniques
1. Summative assessment of budget using handout
B 1.4 (PF2.39X)
2. Formative assessment of response journal
(PF2.39X)
Resources
1. Money and Youth pages 6070
2. Choices & Decisions, Lessons 3 and 4
3. Managing Money, Canadian Bankers Association
Accommodations
1. Pair or group students with English speakers.
2. Display subject specific key visuals.
3. Provide new vocabulary in advance.
4. Provide models of budgets.
5. Provide opportunities for modification of
summative assessment.
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