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Consumer Economics

Ms. Seaton's class activities 

Consumer Economics Lesson Plans

PHS Announcements

How to take notes

Cornell Notes Explained

All must be completed by the end of the semester. You must complete the entire unit before moving onto the next one.

Researching Your Career (2 days)

Create a personal objective for this unit and turn in with assignments. 

  1. Research three careers (one you want, a second

      choice, and one you don't want).

  2. Compare salary, job demand, educational

      requirements, environment, personality compliment?

      Your choice of format, turn in.

  3. Write an objective for your research. Record your

      sources. Turn in.

How to write objectives (Bob Pike Group)

Use this site to assist you in writing objectives.

Productivity and Time management (1 day)

Create a personal objective for this unit and turn in with assignments.

  • Research The Productivity Project

  • Watch videos on The Prod Project

  • How does Elon Musk organize his time?

  • Create own time management how to's for our freshmen to be successful. Include working, homework, time to play, and taking care of your health. Research five time wasters and give two strategies each on how to overcome them.

  • Write down everything you do for a day. Write a paragraph telling about the time wasters in your day. 

  • Use the task list for one week or create your own using this template (MS Excel).

Employment (4 days)

Create a personal objective for this unit and turn in with assignments.

  1. Job application - fill one out and turn it in.

    1. Create ​your own list do's and don't and include why's for each.

    2. Informational ONLY article How to Get a Better Job

  2. Create a cover letter for a Cover Letter Packet (includes good examples of resumes)

  3. Create a resume from a blank document (MS Word). Here are the dual credit offerings. You must use the LLC name for the course only on your resume.

    1. Conference with teacher - three bad resumes​

      1. Charlene

      2. Lisa

      3. Emily

   4. Create a reference page. Conference with Ms. 

       Seaton about choosing references.

   5. Complete a mock interview. Read How to

       Interview. Research and compile a list of 10 things to

       do in a video interview.

Soft Skills

Create a personal objective for this unit and turn in with assignments.

  1. Read the Indeed article Soft Skills.

  2. Tattle on ten people and include yourself, telling me what soft skills they exhibiting and how. You must have a different soft skill for each person. Turn in.

  3. Create a colorful 11"x17"poster for a soft skill, decorating and defining it. Email to Ms. Seaton to print. Turn in.

What to do in a car accident (1 day)

Create a personal objective for this unit and turn in with assignments.

  1. Read article

  2. Research top reasons teens are in car accidents and write ten ways to prevent. Turn in.

Identity Theft (1 day)

Create a personal objective for this unit and turn in with assignments.

  1. Read the ID theft document and interview an adult

      about identity theft to find out more ways to protect

      yourself. Write a half page on your interview findings.

  2. Read and answer the following Is This a Scam? page,

      turn in and then check your answers on Ms. Seaton's

      bulletin board.

Grocery Shopping (2 days)

Create a personal objective for this unit and turn in with assignments.

   1. Read about grocery shopping.

   2. Make a menu for yourself. 

   3. Follow the rules for the assignment.

Checking Accounts (3 days)

Create a personal objective for this unit and turn in with assignments.

  1. Do the checking account simulation. 

      (Checking account packet and conference with Ms.            Seaton.)

Banking (2 days)

Create a personal objective for this unit and turn in with assignments.

How the Market Works articles:

  1. "Banks, Credit Unions, and Savings & Loan Institutions." 

  2. Savings Growth and Compound Interest Calculator"

  3. Create a Ven Diagram of the similarities and difference between credit unions and banks. Turn in.

  4. Watch FDIC video, summarize, turn in. (Take Charge Today)

 

Estate Planning (2 days)

Create a personal objective for this unit and turn in with assignments.

  1. Watch the video, "Estate Planning."

  2. Fill out note taking guide with Powerpoint.

  3. Watch Steve Jobs Commencement address and fill out handout Stay Hungry.

Taxes (1 day)

Create a personal objective for this unit and turn in with assignments.

  1. Watch taxes Powerpoint and fill in note taking guide.

  2. Read the Basics of Taxes.

  3. Do the person's taxes in the taxes project. You will have to find out how to do them.

Insurance (1 day)

Create a personal objective for this unit and turn in with assignments.

  1. Watch "Risk, Responsibility, Reality" video.

  2. Read Powerpoint.on insurance

  3. Fill in insurance note taking guide with PPT.

  4. Print and read insurance information sheet.

  5. Damon insurance scenario and reflection. Print notes and turn in.

Fake News (1 day)

Create a personal objective for this unit and turn in with assignments.

  1. Watch video, "How to Spot Fake News"

  2. Fake News graphic organizer, turn in.

  3. Read article, "How to Spot Fake News"

  4. Is Bitcoin cryptocurrency? handout, turn in.

  5. Fake News advice column, turn in.

  6. Watch "What the Health" and discuss the importance of checking out sponsors of websites. Turn in. Extra Credit!

How the Market Works Invite:

You must complete 15 of the assignments and make one trade.

 

  1st hour Consumer Economics

  7th hour Consumer Economics

Goals and Decision Making Process (1 day)

Create a personal objective for this unit and turn in with assignments.

  1. Use the decision making process to outline a decision

      you have made. Write down each step and turn in.

  2. Use the goals spreadsheet to set three goals (short,

      medium, and long term). Conference with Ms. Seaton

      for an explanation of assignment.

Credit, Loans, Bankruptcy (leave till end of November)

Create a personal objective for this unit and turn in with assignments.

Retirement and Savings (2 days)

Create a personal objective for this unit and turn in with assignments.

  1. Read Savings handout. Write an objective for this

      unit.

  2. Read and define unknown terms in comic

      about savings, turn in.

  2. Read Money Smart and write down unknown terms,

      define them and turn in.

  3. Read and explain the TWO compound interest

      handouts.and turn in. One. Two

  4. What steps does Dave Ramsey teach? Compare his

      to another popular financial advisor, turn in. Cite your

      sources.

  5. Forecast the life you want to lead upon retirement.

      What do you want to be able to do? What will your life

      look like? How much money will you need to plan for

      and how long will you need it? Plan it out with details

      and turn that in as well.

Buying a Car Group Project (2 days)

(Adapted from EconEdLink)

Students will be able to:

  • Use economic concepts and mathematical calculations in making hypothetical decisions about buying and financing a car

  • Create a personal objective for this unit and turn in with assignments.

  1. Watch the following car commercials.

    1. Lincoln Navigator Commercial

    2. Volkswagen Car Commercial

    3. Dodge Brothers’ First Dodge

  2. Research new and used cars on Edmund's Car Buying Guide and Kelly Blue Book. ​

    1. Who owns both companies?​

    2. Discuss similarities and differences between the two websites.

  3. Each student in group:

    1. Print and fill out Car Loan Application with mostly realistic information - as much as possible.

    2. Find a car of your choice and use the Amortization Auto Loan Calculator being able to explain how it works.​

    3. Using the Decision Making Grid, find three alternative cars and complete.

 

For individual credit, turn in:

  1. Self evaluation (no presentation)

  2. An ad for the car of your choice (printed or URL)

  3. A completed loan application

  4. Monthly payments for each option calculated by using the monthly payment formula (neatly handwritten).

  5. Total cost of the loan for each option (monthly payment multiplied by number of payments-neatly handwritten).

  6. Printed copy of an amortization schedule of the loan option that is best for your situation.

  7. A typed summary of which is the best loan option for your situation along with a justification of why, a summary of what you have learned from this project should be included in the written summary.

  8. A completed Decision Making Grid

Renting an Apartment vs. Buying a House (1 day)

Create a personal objective for this unit and turn in with assignments.

  1. Research whether its better to rent an apartment or buy a house. Record terms that you are unfamiliar with. Reflect and turn in.

  2. Read article on what to look for when going to see an apartment. Answer the following question after reading the article about a roommate. What could have a person done in this situation to prevent what happened? Read notes about buying a house. Which option is better for you? Turn in.

Budgeting (1 day)

Create a personal objective for this unit and turn in with assignments.

How the Market Works articles:

  1. Home Budget Calculator: screen shot and turn in

  2. Budget article

  3. Spending plan vs Budget

Family planning and children (1 day)

Create a personal objective for this unit and turn in with assignments.

  1. Read article on how much children cost.

  2. Summarize article, turn in.

Dave Ramsey Envelope System (1 day)

Create a personal objective for this unit and turn in with assignments.

  1. Read article and explain in summary, turn in.

Important Papers (1 day)

Create a personal objective for this unit and turn in with assignments.

  1. ​Read the article from Dave Ramsey.

  2. Organize your important papers at home and describe what you did.

College and Financial Aid (1 day)

Create a personal objective for this unit and turn in with assignments.

  1. Watch financial aid Powerpoint and fill in notes on guide.

  2. Read handout on financial aid.

  3. Read the FAFSA dissected.

  4. Read the Dave Ramsey article and summarize, turn in.

Voting Preferences (1 day)

Create a personal objective for this unit and turn in with assignments.

  1. Take quiz and write a reflection describing your political beliefs and if you agree with the quiz.

Thank you letter (sample)

Oprah's Debt Diet - Financial Manager Project

(2 days)

Create a personal objective for this unit and turn in with assignments.

  1. Debt Snowball in MS Excel

  2. Project information and instructions

  3. Family budget in MSExcel

Relocating Project (3 days)

Create a personal objective for this unit and turn in with assignments.

  1. Conference with Ms. Seaton to choose a place.

  2. Follow instructions and set up life in a new place.

Entrepreneurs for fun and extra credit!

Richard Branson

Elon Musk

Marc Ecko 1

Marc Ecko 2

Entrepreneur Questions

How will you do this chapter stuff? Below are objectives from the chapter in our Consumer Economics book. Remember any one can Google anything for an easy answer, but I want you to think. Sooooo, answer the following in any manner/fashion you choose, HOWEVER you must apply the following objectives to something of interest to you or your career, giving an example to explain and PROVE you have accomplished what the objective asks to you do. You must do this chapter business in order.

Chapter 1 - What is Economics?

You will be able to:

  • explain why scarcity and choice are basic problems of economics.

  • identify land, labor, and capital as the three factors of production. Identify two sources of capital.

  • explain the role of entrepreneurs.

  • explain why economists say all resources are scarce.

  • describe why every decision involves trade-offs.

  • explain the concept of opportunity cost.

  • explain how people make decisions by thinking at the margin.

  • interpret a production possibilities curve (ppc)

  • demonstrate how ppc show efficiency, growth, and cost.

  • understand how a country's production possibilities depend on its available resources and technology.

 

Chapter 2 Economic Systems

You will be able to:

  • Identify the three key economic questions of what to produce, how to produce, and who consumes what is produced.

  • Analyze the societal values that determine how a country answers the three econ questions.

  • Explain the characteristics of traditional, command, and market economies and describe the societal values that influence them.

  • Explain why markets exist.

  • Analyze a circular flow model of a free market economy.

  • Understand the self-regulating nature of the marketplace.

  • Identify the advantages of a free market economy.

  • Describe how a centrally planned economy is organized.

  • Identify the problems of a centrally planned economy.

  • Explain the rise of mixed economic systems.

  • Interpret a circular flow model of a mixed economy.

  • Explain the difference between capitalism and socialism. Which would you rather live within and why?

  • Pretend join the Peace Corps assignment!

Chapter 4 Demand

You will be able to:

  • Explain the law of demand.

  • Understand how the substitution effect and the income effect influence decisions.

  • Create a demand schedule for an individual and a market.

  • Interpret a demand graph using demand schedules.

  • Understand the difference between a change in quantity demanded and a shift in the demand curve.

  • Identify the determinants that create changes in demand and that can cause a shift in the demand curve.

  • Explain how the change in the price of one good can affect demand for a related good.

  • Identify factors that affect elasticity.

  • Explain how firms use elasticity and revenue to make decisions.

Chapter 5 Supply

You will be able to:

  • Explain the law of supply.

  • Interpret a supply graph using a supply schedule.

  • Explain the relationship between elasticity of supply and time.

  • Explain how firms decide how much labor to hire to produce a certian level of output.

  • Analyze the production costs of a firm.

  • Understand how a firm chooses to set output.

  • Explain how a firm decides to shut down an unprofitable buisiness.

  • Identify how determinants create changes in supply. 

  • List ways in which the government can influence the supply of a good. 

  • Analyze the effects of other factors that affect supply.

  • Supply/Demand Assignment

Chapter 7 Market Structures

You will be able to:

  • Play Monopoly with your friends. See Ms. Seaton for the game! Notice strategy!

  • Describe the four conditions that are that are in place in a perfectly competitive market.

  • List two common barriers that prevent firms from entering a market.

  • Describe prices and output in a perf comp market.

  • Describe characteristics and give examples of a monopoly.

  • Describe how monopolies are formed, including a government monopoly.

  • Explain how a firm with a monopoly sets output and price, and why companies practice price discrimination.

  • Describe characteristics and give examples of monopolistic competition. Explain how firms compete without lowering prices.

  • Understand how firms in a monopolisticly competitive market set output.

  • Describe characteristics and give examples of oligopoly.

  • Understand how firms use market power.

  • List three market practices that the government regulates or bans to protect competition.

  • Define deregulation and list its effects on several industries.

Ch 12 Gross Domestic Product and Growth

You will be able to:

  • Identify National Income and Product Accounts.

  • Explain how gross domestic product is calculated.

  • Explain the difference between nominal and real GDP.

  • List the main limitations of GDP.

  • Describe other income and output measures.

  • Identify factors that influence GDP.

  • Identify the phases of the business cycle.

  • Describe four key factors that keep the business cycle going.

  • Explain how economists forecast fluctuations in the business cycle.

  • Analyze the impact of business cycles on US history and why US businesses cycles may change in the future.

  • Analyze how economic growth is measured.

  • Understand capital deepening and how it contributes to economic growth.

  • Analyze how saving and investment are related to economic growth.

  • Summarize the impact of population growth, government, and foreign trade on economic growth.

  • Identify the causes and impact of technological progress.

Ch 13 Economic Challenges

You will be able to:

  • Describe frictional, seasonal, structural, and cyclical unemployment.

  • Describe how full employment is measured.

  • Explain why full employment does not mean that every worker is employed.

  • Explain the effects of rising prices.

  • Understand the use of price indexes to compare changes in prices over time.

  • Identify the causes and effects of inflation. 

  • Describe recent trends in the inflation rate.

  • Define who is poor, according to government standards.

  • Describe the causes of poverty.

  • Analyze the distribution of income in the US.

  • Summarize government policies intended to combat poverty.

 

Course Description

1 SEMESTER, 1/2 CREDIT Seniors will be required to complete this course or proficiency the State consumer economics test in order to meet graduation requirements. This required course will continue to include units on planning and working with budgeting, the principles of buying and comparison buying, planning and understanding savings programs, and installment buying and using credit. The role of government on the economics as well as the principles of supply and demand will be covered in this course.

 

Interrelated COOP may be used as a substitute for this course.

 

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