Personal Finance Economics Unit

1. Why is your topic appropriate?

I chose this topic because this was a unit that I was teaching to the economics class. I am

not majoring in economics nor do I have much experience with it so teaching it was a

process that I learned along the way as well. I learned how to adapt and teach on the fly,

but I also taught the students the basics of personal finance like things about bank

accounts, credit scores, credit/debit cards, and writing a check. These are all very

applicable to real life. Students are always asking how things you learn in school will

actually help you when you get out of school. This is exactly one of those circumstances

that directly applies. I tested them before they were taught the material and after they

were taught the material.

2. How did you organize your data?

I had the students take a pretest on Google Forms and then after being taught the

material, they took the same test, just now called “posttest.” There were 14 multiple

choice questions and the final five questions were regarding the information on how to

write a check. Each of the blanks for filling in information was a point.

3. Analyze data.

Looking at the data from the first 14 multiple choice questions.

PreTest data: Average: 7.47 / 14 points, Median: 7 / 14 points, Range 2 - 14 points.

PostTest data: Average 10.27 / 14 points, Median 11 / 14 points, Range 3 - 13 points.

The data from the check writing portion of the test.

The students got: Average of 3.36 / 6 points on the PreTest and Average of 5.57 / 6 points

on the PostTest.
PreTest

PostTest

This question shows that before the students learned about the Federal Reserve, many

thought the Bank of America was the central bank for the US Government. After learning

the content, the students largely grasped the concept of the Federal Reserve and what it

entails.
 PreTest

PostTest

Before learning the content, only four students knew what the FDIC was. After going

through the unit, all but two students grasp the concept of the FDIC and one who got it incorrect

mixed up the bank insurer with the credit union insurer (NCUSIF).
PreTest

PostTest

Many students didn’t know what a debit card does or is used for, but after learning about

it, almost three-quarters of the class knows how to transfer money from account to

account at the banks to use their debit card or a check.

 PreTest

PostTest

Again, many of the students have heard of a credit card and no doubt have seen their

parents use a credit card, but the knowledge of what their features was not very high

before the unit. After learning the information, double the amount of correct answers

occurred amongst the students.

4. Interpret results (strengths and weaknesses).

 Upon reviewing the answers to the questions from both the post and the pre and

analyzing them side-by-side, it is clear to see that there was an overall improvement of

every student from before to after learning the material, which is to be expected. The one

area that I saw students slipping up on was where the answers to the multiple choice

included multiple things that they had heard before in that unit. For example, when FDIC

was mentioned alongside FTC, even though FTC was the correct answer, students

selected FDIC because it was familiar to them or they didn’t know what FTC was. It is

interesting that some answers that were selected have nothing to do with anything we

have taught and this is still a mystery to me. I don’t know why this occurs outside of

students not paying attention or just not caring about their grades. The students definitely

learned more about personal finance than they had previously known.

5. Reflection (for future teaching).

As far as learning the subject matter, they did a good job and the teaching style was, in

my opinion, effective. I think that relating this to their own lives, providing relevant

examples, and insight into my own life as a college student helped the students look

closer as to why they needed to learn this specific material and how this would help them

in the future. Each of these students will one day acquire money, whether it be from a job

or from the government, and they will need to open up bank accounts and use credit/debit

cards to be able to make smart decisions with this money. Stressing this fact to them

helped them focus and pay attention because this was going to be something actually

applicable to their lives in the very near future. I think that for my future teaching, trying

to find ways that the content applies to their life will help with the overall focus and

effort in that particular unit. Providing tough questions needs to be something that is
eased into the summative assessment process because the students that do not fully grasp

will just select anything that they’ve heard. It is important to ask the tougher questions to

prepare students for high school and college questions, but they have to be delicately and

intentionally placed.