Students learn how economies and markets operate and how the United States economy is interconnected with the global economy. Additionally, they learn how to navigate the financial decisions they must face and to make informed decisions relating to career exploration, budgeting, banking, credit, insurance, spending, financing postsecondary education, taxes, saving and investing, buying/leasing a vehicle, and living independently. They also learn the importance of investing in themselves to gain the knowledge and skills valued I n the marketplace. Development of financial literacy skills and an understanding of economic principles will provide the basis for responsible citizenship, more effective participation in the workforce, and career success. The course incorporates all economics and financial literacy objectives included in the Code of Virginia 'a722.1-200-03B.
Virginia Beach City Public Schools ensures equal access to all CTE courses. Accessibility accommodations will be provided as needed.
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Unit |
Money, Taxes, Budgeting, and Financial Planning  |
Credit, Banking, and Bankruptcy  |
Investments  |
Insurance  |
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Focus |
To begin the course journey, we gain an understanding of money and what gives it value. We explore the various ways that income is earned and how budgeting enables us to make smart financially responsible decisions. |
Next, we explore and learn to identify the differences between financial institutions, to include banks and credit unions, while gaining an understanding of the advantages and dangers of credit and debt and how financial decisions impact our credit worthiness. |
Then, we investigate savings and investment options. We will apply lessons from the credit and debt unit to formulate a personal approach to savings and investments before identifying different strategies and purposes of savings and investment accounts. |
Afterwards, we will work to develop an understanding of the reasons that the myriad of various insurance types is important and sometimes essential. We will examine how a lack of insurance coverage could greatly impact all the other financial advancements we previously made. At the conclusion of this unit, we demonstrate our understanding of personal finance concepts by taking the W!SE Financial Literacy exam. |
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Economic Systems  |
Supply & Demand  |
Roles of Producers and Consumers of a Market Economy  |
Economic Goals & Indicators  |
Consumer Skills  |
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Focus |
Next, we focus our attention on economics and gain an understanding of how scarcity forces us to make choices about how we will utilize our resources. We will examine the different types of economic systems and be able to identify their characteristics. |
With a focus on the laws of supply and demand, we investigate how equilibrium price and quantity are determined while learning about the factors that shift the supply and demand curves. We will also explore the causes of shortages and surpluses. |
In a market economy, roles such as producers, consumers, entrepreneurs, and competition impact how business is conducted. We will explore the relationship between costs, capital, productivity, and technology on the standard of living. |
Understanding economic indicators helps us identify and compare the health of economies around the world. |
Lastly, as a consumer, we must know how to make the right financial decisions when operating in the market economy. Those decisions include managing our personal resources when making purchases and conducting other business transactions. |
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