Regional Collaborative Technology & Business Personal Finance

Curriculum
Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST

CENTURY GLOBAL SKILLS

Submitted As Part of A Regional Collaborative Design to Achieve the Educational Goals of the Communities
served by the Oceanport, Monmouth Beach, West Long Branch and Shore Regional School Districts

O Office of Curriculum & Instruction

Bruce B.C. Preston

Business & Technology

Personal Finance
Special thanks to New Egypt Public Schools.
BOARD OF EDUCATION INITIAL ADOPTION DATE:

Office of Curriculum & Instruction: The Regional Collaborative of Oceanport, Monmouth Beach, Shore Regional High School, & West
Long Branch

Page 1

Regional Collaborative Technology & Business Personal Finance Curriculum

Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS

Course Philosophy
While the overall economy is growing larger, the economics of an individual play an increasingly more significant role in the global economy. It is important,
now more than ever, that every student understand the our global and national economic system, the correlating systems that influence it, and each
individuals role, as well as responsibility, within the economic system. Our choices affect not only ourselves and families but also the lives of every other
individual on the planet. Sound financial planning, developing personal budgets, and an understanding of the basic principles associated with business and
economics is essential for individual success as well as the success of our communities.

Scope and Sequence by Topic

1st Quarter:

2nd Quarter:

Introduction To Basic Economic Principles & Theory

UNIT 1:
UNIT 2:
UNIT 3:
UNIT 4:
UNIT 5:
UNIT 6:

Mondays = Status of the Economy

Fridays =
Case Studies
Wants & Needs
Economic Systems
Supply & Demand
Business Cycles
Monetary & Fiscal Policy
Market Structures

Money, Banking, & Personal Finance

UNIT 7:
UNIT 8:
UNIT 9:
UNIT 10:
UNIT 11:
UNIT 12:

Mondays = Current Events

Fridays =
Guest Speakers
Money & Banking
Financial Markets
Business Organizations
Personal Finance
Insurance
Consumer Education

2
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,

Regional Collaborative Technology & Business Personal Finance Curriculum

Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS

Last 2 Wks.:

Career Decisions & Career Exploration

Course Proficiencies

Unit

Topic Title

Instructional Objective

Unit 1

"Wants & Needs"

Unit 1, Section 1

Scarcity & the Factors of

Production

Unit 1, Section 2

Opportunity Cost

Unit 1, Section 3

Production Possibilities

Unit 2

Economic Systems

Unit 2, Section 1

Key Economic Questions

Unit 2, Section 2

The Free Market & Free

Enterprise

Unit 2, Section 3

Centrally Planned Economies

Unit 2, Section 4

Modern Economies

Unit 3

Supply & Demand

When presented with a list of resources, the learner will

define "scarcity" and name a real-world example.
Given a list of goods & resources, the learner will
state the "efficient allocation" by matching the products.

Given an example of a free market economy and a

centrally-planned economy, the student will compare &
contrast these systems by writing an essay.
Given three present-day economies, the student will be able
to recognize & label them aloud with 100% accuracy.
Given different prices & quantities, the student will be able
to graph a demand curve and chart the trend.
Given a change in demand, the student will be able to
estimate the correlating price change & its effect.

3
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,

Regional Collaborative Technology & Business Personal Finance Curriculum

Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS

Unit 4

Business Cycles

Given a list of different countries' GDPs, the student will be

able to compare & contrast productivity.
Given a list of GDP & population numbers, the student will be
able to calculate GDP per capita & explain their findings.

Unit 5

Monetary & Fiscal Policy

Unit 6

Market Structures

Unit 7

Money & Banking

Unit 7, Section 1

Money

Unit 7, Section 2

The History of American Banking

Unit 7, Section 3

Banking Today

Unit 8

Financial Markets

Unit 9

Business Organizations

Given an economic indicator, the student will be able to

predict monetary policy & list the tools that the Fed would use.
Given an industry example, the student will be able to illustrate
how the role of competition insures free enterprise.
Given a list of financial institutions, the student will be able to
label the different types with at least 80% accuracy.
Given a picture of three different types of currency, the student
will be able to identify its uses & give specific examples.
Given a set of costs & profits, the student will be able to
calculate the return on investment (R.O.I.) & payback.
Given 3 options of incorporation, the student will be able to pick
a specific one, explain its benefits, & list the necessary steps.

4
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,

Regional Collaborative Technology & Business Personal Finance Curriculum

Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS

Unit 10

Personal Finance

Unit 11

Insurance

Unit 12

Consumer Education

Given a list of expenses & sample revenue, the student will be

able to create a budget on computerized spreadsheet software.
Given list of the different personal insurances available, the
student will show the needs for insurance using real-life examples.
After watching a video on different consumer scams, the student
will be able to demonstrate the legal protection & recourse afforded.

Curriculum Unit
Personal Finance
"Money, Banking & Finance"
Enduring Understanding:

Topics

The learner will (TLW): become an active participant in their financial futures by analyzing and applying
economic and personal finance concepts to their lives.

District Curriculum
Concepts

Standards Activities

Instructional Strategies
Assessments Resources Essential Questions

Introduction to Economic Principles & Theory

UNIT 1 (WEEK 1)
"WANTS & NEEDS"
Unit 1, Section 1

Profit Maximization
Commodity Products
"Value-Added" Products
What Is Economics?

3
3
1
1

Case Study: Alan Greenspan Bio

http://www.federalreserve.gov/bios/
Greenspan.htm

5
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,

What are the economic

ramifications

of "wants" & "needs"?

What is economics?

Regional Collaborative Technology & Business Personal Finance Curriculum

Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS

Scarcity & the Factors of Production
TLW define & explain scarcity
Unit 1, Section 2
Opportunity Cost
TLW explain opportunity cost
Unit 1, Section 3
Production Possibilities
TLW understand efficient allocation
of goods & services

Topics

Microeconomics Vs.
Macroeconomics
Resources
Natural Resources
Human Resources
Capital Resources
Scarcity
Shortages
Factors of Production
Opportunity Cost
Trade-Offs
Production Possibilities
Efficiency & Growth
Cost
Allocation of Goods & Services

District Curriculum
Concepts

1
1
1
1
1
1
1
1
1
1
1
1
3

Standards Activities

UNIT 2 (WEEK 2)

Adam Smith & "Wealth of Nations"

ECONOMIC SYSTEMS

"Laissez-Faire" Economics
John Maynard Keynes
Keynesian Economics
How Markets Work
Key Economic Questions
The Free Market
Free Enterprise
Traditional Economy
Role of Incentives
Economic Freedoms

3
3
3
3
3
3
3
3
4
3

Unit 2, Section 1
Key Economic Questions
TLW recognize diff econ systems
Unit 2, Section 2
The Free Market & Free Enterprise

Instructional Strategies
Assessments Resources Essential Questions

Case Study: NAFTA

http://www.econedlink.org/lessons/
index.cfm?lesson=EM50&page=teacher

6
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,

What is a free market

economy?
How does free enterprise
work?

Regional Collaborative Technology & Business Personal Finance Curriculum

Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS

TLW define the free market
Unit 2, Section 3
Centrally Planned Economies
TLW compare market structures
Unit 2, Section 4
Modern Economies
TLW contrast modern economies

Topics

Centrally Planned Economies

Modern Economies
Comparing Economic Systems
Exchange Rates
Exports & Imports
Barriers to Trade
Market Structures
Choice
Gain from Trade
Barter & Exchange
Free Trade

District Curriculum
Concepts

UNIT 3 (WEEKS 3 - 4)
"SUPPLY & DEMAND"
Unit 3, Section 1
Understanding The Law of Demand
TLW understand the law of demand
Unit 3, Section 2
Shifts in the Demand Curve
TLW graph a demand curve
Unit 3, Section 3
Elasticity of Demand
TLW explain elasticity of demand

3
3
8
5
5
5
3, 8, 9
4
5
5
5

Standards Activities

Law of Demand
Aggregate Demand
The Demand Curve
Shifts in the Demand Curve
Role of Price in Market System
Price Determinants
Price Stability
Price Floors
Price Ceilings
Role of Competition
Elasticity of Demand
Inelastic Demand
Factors of Production
Law of Supply
Aggregate Supply
The Supply Curve
Elasticity of Supply

8
13
8
8
8
8
8
8
8
9
8
8
14
8
13
8
8

Instructional Strategies
Assessments Resources Essential Questions

Case Study: "Supply & Demand

at the Gold Rush"
http://www.econedlink.org/lessons/
index.cfm?lesson=EM328
Case Study: Enron
http://boards.abcnews.go.com/cgi/
abcnews/request.dll?LIST&room=bz_enron

7
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,

How does the laws of supply &

demand effect production?
How does the laws of supply &
demand effect pricing?

Regional Collaborative Technology & Business Personal Finance Curriculum

Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS

Unit 3, Section 4
Understanding Supply
Unit 3, Section 5
Costs of Production
Unit 3, Section 6
Changes in Supply & Demand
Unit 3, Section 7
Prices
Unit 3, Section 8
Changes in Market Equilibrium
Unit 3, Section 9
The Role of Prices

Topics

Costs of Production
Marginal Returns
Economies of Scale
Changes in Supply & Demand
Input Costs
Input Costs
Influences
Labor
Distribution
Pricing
Combining Supply & Demand
Balancing the Market
Market Equilibrium
Market Disequilibrium
Analyzing Shifts
The Role of Prices
The Role of Prices in a Free
Market
Efficient resource Allocation

District Curriculum
Concepts

14
14
14
13
13
13
13
13
13
13
13
13
13
13
13
13
13
13

Standards Activities

UNIT 4 (WEEK 5)

Gross Domestic Product (GDP)

18

BUSINESS CYCLES

What Factors Influence GDP?

Calculating GDP
Real GDP
Nominal GDP
Business Cycles
Phases of the Business Cycle
Fluctuations

18
18
18
18
18
18
18

Unit 4, Section 1
Gross Domestic Product (GDP)
TLW calculate GDP

Instructional Strategies
Assessments Resources Essential Questions

Case Study: "Stagflation in the 1970's"

How can you compare different

countries economic
productivity?

http://ideas.repec.org/p/fth/michin/
452.html

What factors influence GDP?

8
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,

Regional Collaborative Technology & Business Personal Finance Curriculum

Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS

Unit 4, Section 2
Business Cycles
TLW understand economic phases
Unit 4, Section 3
Economic Growth
TLW measure economic growth
Unit 4, Section 4
Economic Challenges
Unit 4, Section 5
Inflation
Unit 4, Section 6
Poverty

Topics

Economic Growth
Measuring Economic Growth
Productivity
"Real" Vs. "Nominal" Growth
Economic Challenges
Employment
Unemployment
Inflation
Consumer Price Index (CPI)
Standard of Living
Hyperinflation
"Stagflation"
Deflation
Poverty
Poverty Rate
Income Distribution in the U.S.
Incentives
Taxes

District Curriculum
Concepts

UNIT 5 (WEEKS 6 - 7)
MONETARY & FISCAL POLICY
Unit 5, Section 1
Taxes & Government Spending
TLW understand why gov't taxes

15
15
15
15
19
18
19
19
19
15
19
19
19
19
19
19
15
20

Standards Activities

Taxes & Government Spending

Federal Taxes
Income Taxes
Corporate Taxes
Social Security Taxes
Medicare Taxes
Unemployment Taxes
Federal Spending

16
16
16
16
16
16
16
20

Instructional Strategies
Assessments Resources Essential Questions

Case Study: "Reaganomics"

What is the Federal Reserve

Bank?

Why do governments tax?

http://www.econlib.org/library/Enc/
Reaganomics.html

9
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,

Regional Collaborative Technology & Business Personal Finance Curriculum

Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS

Unit 5, Section 2
Federal Taxes
TLW understand the diff Fed taxes
Unit 5, Section 3
Federal Spending
TLW understand the budget
process

State Taxes
Local Taxes
Economic Stimulus
Economic Manipulation
Fiscal Policy
Role of Government
Federal Budget
OMB

16
16
20
20
20
16
20
20

Budget Process

20

Expansionary & Contractionary Fiscal

Policy

Unit 5, Section 4
State & Local Taxes
Unit 5, Section 5
Understanding Fiscal Policy
Unit 5, Section 6
Fiscal Policy Options
Unit 5, Section 7
Budget Deficits & The National Debt
Unit 5, Section 8
The Federal Reserve System
Unit 5, Section 9
Federal Reserve Functions
Unit 5, Section 10
Monetary Policy Tools

Coordinating Fiscal Policy

Fiscal Policy Options
Classical Economics
Keynesian Economics
Supply-Side Economics
Budget Deficits
National Debt
Taxes & Government Spending
Balancing the Budget & a Surplus
The Federal Reserve System
Central Banking System
Banking History
Structure of the Federal Reserve
Federal Reserve Functions
The Journey of a Check
Regulating the Banking System
Regulating the Money Supply
Monetary Policy Tools
Money Creation
Reserve Requirements

20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20

10
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,

Regional Collaborative Technology & Business Personal Finance Curriculum

Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS

Discount Rate
Open Market Operations
"Tight" & "Loose" Money Policy

Unit 5, Section 11
Monetary Policy

Topics

District Curriculum
Concepts

UNIT 6 (WEEK 8)
MARKET STRUCTURES
Unit 6, Section 1
Perfect Competition
Unit 6, Section 2
Monopoly
Unit 6, Section 3
Monopolistic Competition &
Oligopoly

Topics

20
20
20

Standards Activities

Market Structures
Perfect Competition
Barriers to Entry
Monopoly
Government Monopolies
Price Discrimination
Price Fixing
Monopolistic Competition
Oligopoly
Regulation

9, 8
9
9
9
9
9
9
9
9
9

Deregulation

District Curriculum
Concepts

Standards Activities

Instructional Strategies
Assessments Resources Essential Questions
How does the role of
competition
insure free enterprise?
What is a monopoly?

Instructional Strategies
Assessments Resources Essential Questions

Money, Banking & Finance

UNIT 7 (WEEK 9)
MONEY & BANKING
Unit 7, Section 1
Money

Money & banking

Money
What is Money?
Uses of Money & Currency
Banking History

10
10
10
10
10

11
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,

What is money?
What is the history of banking?
What are the different types of
savings institutions?
How do banks make a profit?

Regional Collaborative Technology & Business Personal Finance Curriculum

Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS

TLW explain the uses of money
Unit 7, Section 2
The History of American Banking
TLW know how banks make a profit
Unit 7, Section 3
Banking Today

Topics

District Curriculum
Concepts

UNIT 8 (WEEK 10)

FINANCIAL MARKETS
Unit 8, Section 1
Saving & Investing
TLW understand risk & return
Unit 8, Section 2
Bonds & Other Financial Assets
TLW calculate R.O.I.
Unit 8, Section 3
The Stock Market

Shifts in the Banking System

Banking Stabilization
Modern Banking
Measuring the Money Supply
Banking Services
How Banks Make a Profit?
Types of Financial Institutions
Electronic Banking
Credit Unions
Savings & Loan

10
10
10
10
10
10
10
10
10
10

Standards Activities

Financial Markets
Saving & Investing
Risk & Return
Return On Investment (R.O.I.)
Payback
Stocks & Bonds
Financial Assets
Types of Bonds
Bond Ratings
The Stock Market
Buying Stock
Types of Stock
Stock Splits & Stock Risks
Futures & Options
Stock Exchanges

10
11
11
11
11
11
11
11
11
11
11
11
11
11
11

Instructional Strategies
Assessments Resources Essential Questions

Guest Speaker: Banker

12
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,

What is a stock?
What is a bond?

Regional Collaborative Technology & Business Personal Finance Curriculum

Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS

Topics

District Curriculum
Concepts

UNIT 9 (WEEK 11)

BUSINESS ORGANIZATIONS
Unit 9, Section 1
Sole Proprietorships
TLW learn how to incorporate
Unit 9, Section 2
Partnerships
TLW understand partnerships
Unit 9, Section 3
Corporations, Mergers, &
Multinationals
Unit 9, Section 4
Other Organizations

Topics

Standards Activities

Business Organizations
Sole Proprietorships
Characteristics of Proprietorships
Advantages of Proprietorships
Partnerships
Types of Partnerships
Advantages of Partnerships
Disadvantages of Partnerships
Corporations
Types of Corporations
Advantages of Corporations
Disadvantages of Corporations
Mergers
Acquisitions

10
10
10
10
10
10
10
10
10
10
10
10
10
10

Multinationals
Franchises
Cooperatives
Nonprofit Organizations

10
10
10
10

District Curriculum
Concepts

UNIT 10 (WEEK 12)

PERSONAL FINANCE
Personal Financial Systems & Skills

Standards Activities

Personal Finance
Personal Financial Systems &
Skills
Saving
Investing

Instructional Strategies
Assessments Resources Essential Questions
How to incorporate?
What are the tax advantages
of a S Corporation?

Instructional Strategies
Assessments Resources Essential Questions

13

How do I create a budget?

13
11
11

How can I better manage my

personal finances?

13
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,

Regional Collaborative Technology & Business Personal Finance Curriculum

Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS

Unit 10, Section 1
Saving & Investing
TLW apply financial systems
to every day life
Unit 10, Section 2
Budgeting & Financial Planning
Unit 10, Section 3
Taxation

Topics
UNIT 11 (WEEK 13)
INSURANCE
Unit 11, Section 1
Personal Insurance
Unit 11, Section 2
Business Insurance

Banking Systems
Budgeting
Financial Planning
Income & Expenses
Debt Management
Credit
Mortgages
Loans
Federal Taxes
State Taxes
Personal Taxes

District Curriculum
Concepts

11
13
13
14
13
13
13
13
14
14
13

Standards Activities

Instructional Strategies
Assessments Resources Essential Questions

Insurance
Personal Insurance
Life Insurance
Health Insurance
Auto Insurance
Disability Insurance
Business Insurance
Homeowner's Insurance

Unit 11, Section 3

Homeowner's Insurance

14
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,

What is insurance?
Why do I need insurance?

Regional Collaborative Technology & Business Personal Finance Curriculum

Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS

Topics

District Curriculum
Concepts

Standards Activities

UNIT 12 (WEEK 14)

Consumer Powers

CONSUMER EDUCATION

Consumer Protection
Business Law
Consumer Management Skills
Consumer Credit
Responsible Choices
"Caveat Emptor"

Unit 12, Section 1

Consumer Powers & Protection
Unit 12, Section 2
Consumer Management Skills

Instructional Strategies
Assessments Resources Essential Questions

Unit 12, Section 3

Responsible Choices
Career Decisions

15
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,

How is the consumer protected?

What does "Caveat Emptor"
mean?

Regional Collaborative Technology & Business Personal Finance Curriculum

Aligned to the New Jersey Core Content Curriculum State Standards

ENGAGING STUDENTS FOSTERING ACHIEVEMENT CULTIVATING 21ST CENTURY GLOBAL SKILLS

16
Shore Regional High School - Based on a template from the DOE, Office of Academic Standards,