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CONSUMER EDUCATION Course Syllabus
Teacher: Mrs. Joanna Thompson Location: Room 124
Email: jthompso@lakes.k12.in.us
Course Overview
Consumer Economics is designed to help provide students with a better understanding of being a productive and ethical member of society. Students will be introduced and given applications on the following topics: economics in our world today, consumer protection, advertising and its influences on the consumer, comparative shopping, using checking and savings accounts and preparing personal income tax forms, borrowing and investing money, using charge accounts and installment contracts, buying a home, auto, health, life, renter’s insurance, consumer laws and protection.
(1 Credit)
Grading
The grading scale will be as follows:
1st Quarter = 40% 2nd Quarter = 40% Final Exam = 20%
Tests – Students will be tested over each chapter covered. (100 points)
Projects – Students will be expected to complete various projects throughout the semester. (Points vary)
Homework – Students will periodically receive in-class or take-home assignments relating to the topics covered in class. (25 points each)
Final Exam – Students will be required to take a final exam covering all of the topics discussed throughout the semester.
Late work –5 points off for each week late on homework assignments
Materials
Students are expected to come to class prepared to participate and learn. Each student is expected to bring the following items each day to class:
Pen/Pencil
Paper
Consumer Education Textbook
2 pocket Folder
Make-Up Work
**You are expected to ask me what you have missed upon your return to school. You will have one day for every day that you were absent to complete missing work You must come see me before or after school in Room 124!!
Classroom Rules
All students are expected to be in the room and in their seats when the bell rings and remain in seat unless given permission to move around. (on lab days follow lab procedure). 3 tardies will result in a tardy detention. More than 3 will result in a referral.
All students are expected to come to class prepared (handbook, text, paper etc.) Points may be deducted from participation grade.
Do not disrupt class or not talk without permission. Disruptions may result in a referral or a phone call to parent.
Keep hands, feet and objects to self. Consequences may be the following: changing seat assignment, phone call to parents, or a referral to the office.
All class work is expected to be completed on time. Late work will have points deducted.
Pick up after yourself. Do not leave any trash in the room.
Absolutely no food or drink in the classroom.
Do not use the computer unless you have permission.
Most importantly!! TRY YOUR BEST!!
Course Outline
**This is a tentative schedule and depending on time constraints, we may cover more or less than what is listed below.
Chapter one – How choices affect income
1.1 Personal Skills and the job market
· Job market
· Values/Goals
· On-the job training
1.2 The Economy and Your Education
· Supply/Demand/Economy
· Market economy
· Ethics
· Grant/Scholarship
· Financial Aid / FAFSA
· Subsidized/Unsubsidized loans
1.3 Job Application Skills and Tools
· Job application
· Interviewing/Resume
· Personal Facts Sheet/References
Chapter 2 Income, Benefits, and Taxes
2.1 Earned income and Benefits
· Minimum Wage / Overtime
· Benefits
· Sick leave, vacations, personal leave,
· Retirement plans
· Entrepreneur
2.2 Unearned Income and payments
· Dividends / Interest
· Excise tax/Property tax/ Sales tax
· Unearned income
2.3 Taxes and Other deductions
· Dependent / Exemption
· Gross pay/net pay
· Social Security tax/Medicare Tax
· W-2 / W-4 / 1040 forms
Chapter 3 – Your Purchasing Power
3.1 Inflation and the power of money
· Productivity
· Inflation
· Time value of money
3.2 Prices and Consumer Choices
· Emotional-Impulse-Rational buying
· buying
· Economizing
· Mark-up
· buying
3.3 Getting More for Your Money
· Advertising
· Branding strategy
· Comparison Shopping
· Consumer loyalty program
· Target audience
· Discount pricing / coupons
3.4 Consumer Rights and Responsibilities
· Basic Laws
· Bait and Switch
· Infomercials
· Ponzi scheme/Pyramid scheme
· Warning labels
Chapter 4 – Financial Decisions and Planning
4.1 Resources and Choices
· Assets/liabilities/Net worth
· Needs/wants/Trade-off
· Opportunity costs
4.2 Basics of Budgeting
· Budget
· Fixed/flexible expenses
· Charitable giving
4.3 Personal Financial Planning
· Financial goals/plan/Timeline
· Phishing
· Financial Planner
Chapter 5 – The Banking System
5.1 Checking Accounts
· Check/debit card /ATM
· Deposit / withdrawal
· Endorsement/post date
· Electronic Funds Transfer
· Check register / reconciliation
5.2 Savings Accounts
· Money Market Account
· Certificate of Deposit (CD)
· Simple/compound interest
· Principal
· US savings Bonds
5.3 Banking Services and Fees
· Bounced checks/insufficient funds
· Cashier’s check/money order
· Overdraft protection / stop payment
· Internet Banking / smart card
· Safe deposit box
Chapter 6 – Personal Risk Management
6.1 Risk Assessment and Strategies
· Loss – Probability - Self-insure
· avoidance, reduction, transfer
· Risk assessment, assumption,
6.2 Protecting Income
· Beneficiary
· Disability Insurance
· Health Insurance - HMO / PPO
· Life insurance, term / permanent
6.3 Protecting Property
· Auto- collision, comprehensive, liability
· Homeowners / renters
· Umbrella policy
· Uninsured motorist
Chapter 7 – Buying Decisions
7.1 Designing a Buying Plan
· Warranty / extended
· Rebate
· Spending limit
· Financing options
7.2 Getting Started with Credit
· Charge card
· Collateral
· Line of credit
· Installment credit
· Consumer Loan
7.3 Computing the costs of credit
· Balance transfer
· Cancellation fee
· Fixed interest / Variable interest
· Minimum payment/Over limit fee
· Penalty
· Introductory offer
Chapter 8 – Preserving your Credit
8.1 Identifying your financial issues
· Contracts / lease
· Security deposit / damage deposit
· Eviction
· Property manager / landlord
8.2 Long-term debt repayment
· Balloon payment/Down Payment
· Market value
· Mortgage - Pre-approved loan
· Refinancing - Trade-in - Rent to own
8.3 Credit management
· Annual fee
· Billing cycle
· Grace period
· Advance fee loan
· Unused credit
Chapter 9 – Credit problems and laws
9.1 Resolving credit problems
· Credit card fraud
· Consumer advocacy
· Dispute letter
· Documentation
· Foreclosure
· Garnishment
· Loan modification
· Repossession
9.2 Bankruptcy choices
· Chapters 7 – 11 – 13
· Credit counseling
· Debt consolidation
· Home equity loan
· Exemptions to bankruptcy
9.3 Consumer Protection laws
· Truth in lending law
· Credit repair –
· only you can fix your credit
Chapter 10 – Basics of Saving and Investing
10.1 Reasons for Saving and Investing
· Emergency funds
· Estate
· Investing
· Retirement
10.2 Principals of saving and investing
· Stocks / bonds
· Returns on investments
· Tax deferrals
· Risks
10.3 Strategies for Saving and Investing
· Market – bear/bull
· Diversification
· Investment portfolio
· Systematic
· Investment tracking/Market Timing
