In this lesson, students play a game to test their current level of financial knowledge. Students explain the importance of financial literacy and explain the importance of taking responsibility for personal financial decisions. This content from Econ Lowdown also features alignment to national Financial Literacy and/or Economics standards.
In this lesson, students learn about credit card usage and credit card consumer protection laws. By the end of the lesson students will be able to analyze the terms of credit cards and recognize what it means to use credit cards responsibly. They will understand the cost of credit and be able to analyze credit card disclosures and credit card statements. This content from Econ Lowdown also features alignment to national Financial Literacy and/or Economics standards.
In this lesson, students learn the importance of taking responsibility for personal finances, describe advantages and disadvantages of standard overdraft services, analyze the consequences of not being responsible in keeping a current bank account balance, explain the importance of maintaining records of deposits, withdrawals and payments from bank accounts and compare the advantages and disadvantages of different card-payment methods This content from Econ Lowdown also features alignment to national Financial Literacy and/or Economics standards.
In this lesson, students analyze the price of consumer credit; identify the factors that affect the total price for a car including the interest rate, the length of a contract and the size of a down payment. They learn to evaluate the costs and benefits of car purchase options, and analyze a car contract. This content from Econ Lowdown also features alignment to national Financial Literacy and/or Economics standards.
In this lesson, students learn the difference between gross and net pay, evaluate their financial literacy skills, explain the importance of financial literacy and explain the importance of taking responsibility for personal financial decisions This content from Econ Lowdown also features alignment to national Financial Literacy and/or Economics standards.
The Currency Academy, brought to you by the U.S. Currency Education Program, is created especially for a young audience. Your students will discover how currency is used, observe artistic concepts found in currency, learn about how money works, and compare elements of the natural world to the special features found on currency. This content from Econ Lowdown also features alignment to national Financial Literacy and/or Economics standards.
Want to learn about the Federal Reserve? Have no fear! En Lenguaje Sencillo describes the structure and functions of the Federal Reserve System in an easy-to-understand interactive format.
Why Do We Need a Federal Reserve?
Board of Governors
Federal Reserve Banks
Federal Open Market Committee (FOMC)
What Does the Federal Reserve Do?
Independence and Accountability
The Federal Reserve System is an important – but complicated institution. Make sense of the Fed in a format that is explained – En Lenguaje Sencillo. This content from Econ Lowdown also features alignment to national Financial Literacy and/or Economics standards.
All of the lessons are correlated with the National Personal Finance Standards and the National Standards in Economics. See the Lesson Correlation section (pdf) for more information.
Each lesson is accompanied by a SMART Notebook file that contains visuals and handouts (whenever practical), along with definitions of terms and review questions.
Students participate in an activity to learn about checking accounts, savings accounts and check cashing services. Students learn the components of a check, and they organize and enter information into an account register - in order to determine the balance. Students learn why maintaining account records is important. Students balance a monthly account statement.
Students participate in "Beat the Financial Expert!," a game that illustrates positive and negative spending behaviors. They analyze the "Beat the Financial Expert!" results, identify effective and ineffective budgeting behaviors and create a budget from a transaction history.
Students calculate compound interest to identify benefits of saving in interest-bearing accounts. They learn the "rule of 72" and apply it to both investments and debt. They learn that there is a relationship between the level of risk for an investment and the potential reward or return on that investment.
Students learn and discuss the advantages and disadvantages of using credit. They read a scenario about a young person's use of a credit card and answer questions regarding repayment. They learn about credit history, credit reports and credit-reporting agencies.
Students discuss key terms related to credit and learn how creditors use capacity, character and collateral as criteria for making loans. Students learn about credit rights and responsibilities and identify the rights and responsibilities of using credit.
Students learn what a payday loan is and the high cost involved in using such a loan. They calculate an annual percentage rate (APR) on a short-term loan and see why comparing loans using APR is more informative than simply by comparing interest rates.
Students review the elements of a contract. They discuss the characteristics of rent-to-own contracts and compare the cost of those contracts with the outright purchase of goods.
The financial security that comes with wealth accumulation requires an understanding of the time value of money. Students begin this module with a lesson on opportunity cost, the most fundamental consideration in any personal financial decision. Students move on to a lesson on interest where they will recognize the importance of interest in sheltering them from the higher cost of living they are certain to experience in later years. The increase in their future costs will be due to inflation, the third subject they will encounter in this program. Students will use their knowledge of opportunity cost, interest and inflation to determine the future value of investments they may make as young adults and the present value of a sum of money they hope to have at a later date.