| (a) General requirements. This course is recommended
for students in Grades 9-12. Recommended prerequisite: Principles
of Business, Marketing, and Finance. Students shall be awarded one
credit for successful completion of this course.
(b) Introduction.
(1) Career and technical education instruction provides
content aligned with challenging academic standards and relevant technical
knowledge and skills for students to further their education and succeed
in current or emerging professions.
(2) The Finance Career Cluster focuses on planning,
services for financial and investment planning, banking, insurance,
and business financial management.
(3) In Money Matters, students will investigate money
management from a personal financial perceptive. Students will apply
critical-thinking skills to analyze financial options based on current
and projected economic factors. Students will gain knowledge and skills
necessary to establish short-term and long-term financial goals. Students
will examine various methods of achieving short-term and long-term
financial goals through various methods such as investing, tax planning,
asset allocating, risk management, retirement planning, and estate
planning.
(4) Students are encouraged to participate in extended
learning experiences such as career and technical student organizations
and other leadership or extracurricular organizations.
(5) Statements that contain the word "including" reference
content that must be mastered, while those containing the phrase "such
as" are intended as possible illustrative examples.
(c) Knowledge and skills.
(1) The student demonstrates professional standards/employability
skills as required by business and industry. The student is expected
to:
(A) demonstrate an understanding of appropriate communication
with customers, employers, and coworkers through verbal, nonverbal,
and digital means;
(B) demonstrate an understanding of the use of business
etiquette;
(C) demonstrate an understanding of appropriate customer
service such as building customer relationships and resolving customer
complaints; and
(D) demonstrate an understanding of ethical and legal
issues in business.
(2) The student uses career planning concepts, tools,
and strategies to explore, obtain, and develop a financial plan. The
student is expected to:
(A) discuss the nature and benefits of financial planning;
and
(B) discuss the role of ethics and personal responsibility
in financial planning.
(3) The student demonstrates an understanding of a
postsecondary plan. The student is expected to:
(A) understand educational, military, and current job
opportunities; and
(B) create a postsecondary plan that includes topics
such as application requirements; testing requirements; certification
requirements; associated deadlines; associated costs, including living
expenses; job prospects and opportunities; beginning earnings; expected
future earnings; and resumes and cover letters.
(4) The student demonstrates an understanding of the
fundamental principles of money. The student is expected to:
(A) explain forms of financial exchange, including
cash, credit cards, debit cards, and electronic funds transfer;
(B) compare and contrast various types of currency,
including paper money, coins, banknotes, government bonds, and treasury
notes;
(C) identify functions of money, including medium of
exchange, unit of measure, and store of value;
(D) describe sources of income, including wages and
salaries, interest, rent, dividends, capital gains, and transfer payments;
(E) explain the time value of money; and
(F) discuss the purposes and importance of credit.
(5) The student examines economic systems. The student
is expected to:
(A) explain sole proprietorships, partnerships, and
corporations;
(B) identify factors affecting profit, revenue, and
expenses; and
(C) understand the rights and responsibilities of consumers
within various economic systems.
(6) The student examines personal financial activities
and the role of government. The student is expected to:
(A) analyze the importance and purpose of taxes;
(B) analyze monetary policy and fiscal policy;
(C) analyze the supply and demand for money; and
(D) analyze the role of the Federal Reserve System.
(7) The student discusses economic indicators impacting
personal financial decision making. The student is expected to:
(A) analyze the measure of consumer spending as an
economic indicator;
(B) analyze the impact of a nation's unemployment rates;
(C) analyze the concept of Gross Domestic Product;
(D) analyze the economic impact of inflation on personal
financial decision making;
(E) analyze unemployment and inflation tradeoffs;
(F) analyze the economic impact of interest rate fluctuations;
and
(G) analyze the impact of business cycles on personal
financial decision making.
(8) The student analyzes the impact of international
activities on personal financial decision making. The student is expected
to:
(A) examine international current events as related
to personal financial decision making;
(B) examine currency exchange rates; and
(C) examine domestic and international labor issues
as related to personal financial decision making.
(9) The student examines how personal financial decisions
are used to achieve financial goals. The student is expected to:
(A) develop a budget based on personal financial goals;
(B) explain the benefits of saving and investing;
(C) examine tax liabilities, including as they relate
to the completion of a W-4;
(D) analyze a pay stub;
(E) interpret and reconcile bank statements;
(F) maintain financial records;
(G) evaluate credit scores;
(H) use identify theft protection measures; and
(I) prepare personal income tax forms by completing
a 1040EZ with a W-2 form and using current tax tables.
(10) The student understands the purposes of financial
service providers. The student is expected to:
(A) describe types of financial service providers,
including banks and credit unions;
(B) evaluate financial service providers based on selection
criteria such as location, interest rates, and benefits;
(C) analyze financing needed for long-term personal
assets, including home purchases and payments and auto purchases,
leases, and payments;
(D) explain loan evaluation criteria used by lending
institutions;
(E) summarize the components of a loan application
package;
(F) calculate a home loan payment schedule;
(G) calculate an automobile loan payment schedule;
and
(H) understand the risks of using a payday loan and
title loan.
(11) The student identifies various investment strategies.
The student is expected to:
(A) evaluate different types of investments such as
stocks, bonds, and property;
(B) evaluate investment goals and objectives as they
relate to risk tolerance;
(C) investigate the opportunities and costs of postsecondary
education;
(D) investigate long-term needs and financial goals,
including retirement; and
(E) investigate the factors that affect the value of
investments.
(12) The student identifies methods to manage personal
risk. The student is expected to:
(A) understand the concept of insurance;
(B) explore the reasons for obtaining personal insurance,
including health, disability, life, cancer, and long-term care insurance;
(C) explore the reasons for obtaining property insurance
coverage, including homeowner's, personal liability, renter's, flood,
earthquake, and auto insurance; and
(D) understand the insurance claim settlement process.
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