Transcript Financial Literacy Institute Winter 2013: Day 1

Financial Literacy Institute
Winter 2013: Day 1
Melissa Groves
[email protected]
Debbie Batchelor
[email protected]
Our mission is to insure that Maryland's
school children leave high school equipped
with the economic, financial literacy and
decision-making content and skills they
need to make informed, rational decisions
as consumers, workers, citizens, savers,
investors and participants in the global
economy.
How Does MCEE
Accomplish Its Mission?
Maintaining our updated website at
www.econed.org
Sponsoring signature programs
– Stock Market Game™
– The Poster Contest
Assisting with curriculum writing
Providing Professional Development for
educators
Grades
1 MSDE CPD
( plus 1 AU for Baltimore City Teachers)
Active participation
30%
In-Class Quizzes (2)
20%
Online Rdgs/Assessments
25%
Post-Test
20%
Behavioral Survey
5%
Grades
2 MSDE CPD
( plus 1 AU for Baltimore City Teachers)
Active participation
20%
In-Class Quizzes (2)
20%
Online Rdgs/Assessments
20%
Post-Test
20%
Behavioral Survey
5%
Original Lesson; Field Test; Summary 15%
Grading Notes
Original Lesson Plan (Due on/before 5:00 p.m. March 22)
– Based on a literary or informational text
– Aligned to one or more of Maryland’s Financial
Literacy Standards
– Using same format as MCEE lessons distributed
throughout the Institute
Field Test/Written Summary (Due on/before 5:00 p.m.
March 22)
– Teach your original lesson (as outlined above) to
your students
– Submit a written summary that includes: student’s
response to the lesson, what did/did not work,
changes you would make based on the
success/failure of the field test
Grading Notes, cont
Behavioral Survey
• Pre-Test: Completed on Day 1 of the course
• Post-Test: Completed weeks after class ends
- You will receive notification relative to the
method of taking the test, i.e. ScanTron,
Survey Monkey, Online testing site,
etc….
- Results will remain anonymous
Objectives
During this presentation, we will…
• explore the Maryland State Curriculum
for Personal Financial Literacy
Education
• review key financial literacy
concepts for Grades K-5
• link lessons to concepts and
standards
How the Institute Works:
The Ying and Yang of It
Melissa
Debbie
Content
Pedagogy
Financial Literacy
A variety of materials to help you
Materials with Multiple Uses
Why Financial Literacy?
Develops financial literacy skills that will
enable students to make sound choices
as consumers
Helps to establish good habits and
responsible attitudes from at an early age
What Personal Finance is About
Your source for
understanding
aspects of
Financial Literacy
The Maryland State Curriculum for
Personal Financial Literacy Education
1. Defines what students should
know and be able to do at
various points in time
2. Specific grade-level curriculum
to be developed by the
individual LEAs
3. Implemented: September
2011
The Standards
1. Making informed responsible
decisions
2. Relate careers, education, and income
3. Plan and Manage Money
4. Managing credit and debt
5. Creating and building wealth
6. Managing risks and preserving wealth
Standard 1
Make Informed, Financially Responsible Decisions
Making financial choices (includes resources,
decision-making process, opportunity cost)
Explaining philanthropy
Identifying goals
Markets
Productive Resources
NATURAL
HUMAN
(Think “Product”)
CAPITAL
Human Resources
Workers; The health,
strength, talents,
education and skills
that humans can use
to produce goods and
services.
Natural Resources
Gifts of nature that can
be used to produce
goods and services
Capital Resources
Tools; the goods that
are manufactured or
constructed by people
and used to produce
other goods and
services.
Decision-Making Process
"It's awfully awfully awful when you can't make up your mind!"
Hunches in Bunches by Dr. Seuss
PROBLEM:
CHOICE #1:
Pros(+)
SOLUTION:
CHOICE #2:
Cons (-)
Pros (+)
Cons (-)
Another Option
And Yet Another
PROBLEM
CRITERIA
TOTALS
Where do I want to go
for dinner tonight?
CHOICES/OPTIONS/
ALTERNATIVES
Put a plus (+) or minus (-) in each box to indicate whether the choice
meets (+) or does not meet (-) the criteria.
Opportunity Cost
The next best choice!
For Decision-Making &
Opportunity Cost
Check Out…
Lesson 4
Lesson 5
Philanthropy
A personal
interest in
helping others,
especially
through gifts to
charity
Lesson 15
Goal
Statement about what a person
wants to accomplish by taking
certain steps; provides
direction to a plan of action
Lesson 7
Lesson 5
Goods
Things that people make or grow
that satisfy economic wants; things
desired by consumers and supplied
by producers.
Services
Community jobs; Actions (jobs)
that people do for each other
Goods & Services
Lesson 2
Lesson 1
Market
Where buyers and sellers exchange
resources, goods, and services.
Mama Panya’s Pancakes:
A Village Tale from Kenya
Market
Goods
Services
Standard 2 Highlights
Relate Careers, Education, and Income
Impact of education, interest & skills on
income (What Personal Finance is About pgs.6-8)
Potential sources of income
How income affects spending
Lesson 1
Isabel’s Car Wash
Relationships among
education, skills,
economic conditions, and
income
Sources of income
Goods
Investing
Standard 3 Highlights
Plan and Manage Money
Spending Plans
Financial Services
Develop Age-Appropriate Financial
Goals
Taxation
Contracts
Standard 3
Develop Age-Appropriate
Financial Goals
WHAT FINANCIAL GOALS
DID YOU SET FOR YOURSELF?
Contracts
Behavior Contract
Agreement
between two or
more people to
do or not do
something
(Add “legally binding”
when age-appropriate)
Student Name: Vinny Barbarino
Room: 222
Vinnie Barbarino will demonstrate good behaviors each
day at school.
Vinnie is expected to follow the teacher's directions
the first time she asks him to do something. He is
expected to do so promptly and with a good attitude.
Each time that Vinnie does not meet these expectations,
he will receive a tally mark for the day on the tracking
sheet. These tally marks will determine the rewards and
consequences that Vinny receives, as shown below.
Zero = A chance to roll the die after school for one of
the rewards listed below
One = Does not get a chance to roll the die that day
Two or more = Loss of recess the next day and/or
other consequences as determined by Mr. Kotter
Die Rolls:
1 = One table point for his table
2 = One raffle ticket for monthly class drawing
3 = One piece of candy
4 = Gets to be first in line for the next school day
5 = Gets to help teacher after school that afternoon
6 = Five marbles for the class marble jar
We agree to the terms of this behavior contract as set
forth above.
Gabe Kotter
Maria Babarino
Vinnie Barbarino
What Are Taxes?
History of taxes
Meaning and
purpose of taxes
How taxes affect
individuals
Reasons for taxes
A Make-n-Take Moment
Standard 3
Plan and Manage Money
Lessons 6, 8, 15, 16
Lessons 4, 5, 6, 14, 15
Next Face-to-Face Session
February 9, 2013
8:00 a.m.
Room 310
Melissa’s website:
http://pages.towson.edu/mgroves/FinLitInstitute.html
Info for Online Session
Go to:
https://university.educatedinvestor.com/unive
rsity/login.xml
(Will email you the link to cut/paste onto
your browser.)
Username: Your email address
Password: finlit
Online Session continued…
Must complete the following modules:
– Getting Started with Saving and Investing
– Basics of Personal Finance
– Basics of Investing
– Working with Financial Advisors
Due: February 6, 2013
Extra Credit:
– Complete: Investment Risks module
– Submit: a one page summary with a
recommendation about whether it should be added
to the Institute and why
And now…
Please complete …
today’s evaluation sheet.
the quiz.