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Stage 1: Desired ResultsUBD Template

Topic/Theme: Managing a Budget (Personal Finance Unit)Time frame: Two - Three WeeksClass/Grade Level: Economics / 10th Grade

Established Goals: (Including state standards) Make large purchases and maintain a standard of living under a specified monetary budget Understand the function of common financial instruments. (Iowa Core) Understand the role of scarcity and economic trade-offs and how economic conditions impact peoples lives. (Iowa Core)

Essential Questions:1) What is the purpose of money?2) What qualifies as a large purchase? 3) Why are large purchases necessary?4) What is the role of a budget? 5) If my budget changes, how does it affect me?6) What is a good standard of living? Is it the same for everyone?7) What happens when I need to buy something unexpectedly?8) What happens if I get fired?

Understandings: Students will understand that1) How to manage a personal budget.2) One needs to plan for unexpected, necessary purchases. 3) Credit card companies are out to make money, and personal debt is bad if it is not well managed, but some debt can be good.4) Unemployment is a complex state that has advantages and disadvantages for the economy and the individual.5) How to make money work for them.

Knowledge: Students will know 1) The average prices of different types of homes, cars, and other large price items.2) The average cost of living in Des Moines, Iowa compared to that of another city in a different state or country.3) How to manage debt in a way that will benefit their economic standing.4) How much in taxes they pay and where it goes to in the government.5) How to plan for large purchases, college, and retirement.6) The importance of emergency funds.7) What benefits to look for when obtaining a job.8) The various types and costs of insurance- which types are necessary and which are not.9) How to prioritize purchases.10) Some unemployment is good for the economy as a whole.11) There are a variety of benefits and drawbacks to unemployment and the possibility of it for the individual consumer needs to be planned for in advance.12) How investments work.13) Differences between types of investment options.14) Key words: credit, debit, debt, investment, emergency, unemployment, short-term, long-term, poverty

Skills: Students will be able to 1) Manage their own budget and a makeshift.2) Make decisions about purchasing large priced items and everyday purchases.3) Adapt a budget for unexpected necessary purchases.4) Manage debt in a way that does not hurt them financially.5) Research various types of insurance, housing, and transportation situations.6) Compare and contrast the benefits and disadvantages for various living situations.7) Decide between different monetary investment options.8) Research a variety of credit companies and choose the best one for the situation.

Stage 2: Assessment EvidenceUBD Template

Topic/Theme: Managing a BudgetTime frame: Two - Three WeeksClass/Grade Level: Economics / 10th Grade

Performance Tasks/Formal Assessment: Task / AssessmentU (or K or S)

1) Bell QuestionsU: 1-5

2) Homework: Students will track spending for 7 straight daysU: 1, 2K: 2S: 1

3) Students will create a budget based on tracked spending and other monthly income/expensesU: 1, 2, 4K: 2S: 1

4) Part 1: Students will work as a group to figure out a budget for a typical American familyPart 2: Accommodate for a financial issueU: 1, 2, 4K: 1, 2, 3, 6, 9, 14S: 1-4

5) Homework: Look up a salary for chosen job and estimate yearly tax paymentsU: 4K: 1, 2, 4, 7S: 1

6) Quiz: over managing credit and unemploymentU: 3, 4K: 3, 6-11, 14S: 1-4, 6, 8

7) Exit ticket: question for guest speakerU: 1-5

8) Worksheet: covering insurance lectureU: 1K: 7, 8, 14S: 1, 5

9) Students will compose a portfolio of their future finances and large purchasesContaining: career, year-long budget, housing, transportation, insurance, financial bump, and investmentsU: 1-5K: 1-9, 11-14S: 1-8

10) Unit examU: 1-5K: 1-14S: 1-4, 6, 7

11) Extra Credit: Online Stock Market gameU: 1, 5K: 12, 13,14S: 1, 7

12) Partner Quiz: Investments (based on lecture)U: 5K: 12, 13, 14S: 1, 7

13) Exit Slip: answer: What does it mean to live in poverty?K: 14

14) Worksheet: credit cards, debt safety ratio, and loan repaymentsU: 3K: 3, 14S: 4, 8

Other Evidence/Informal Assessment:Task / AssessmentU (or K or S)

1) T/P/S: Money goalsU: 1-4K: 5, 9, 14S: 2

2) Small group: Researching and comparing credit card companiesU: 3K: 3, 9, 14S: 8

3) Homework: reading credit section from bookU: 3K: 3, 9, 14

4) T/P/S: look at profiles of homeless individuals and discussing other options and what they would doU: 2, 4K: 3, 6-11, 14S: 1, 2, 5, 6

5) Class participation: in class discussions, group and individual work, answering questions during lecturesU: 1-5K: 1-14 S: 1-8

Stage 3: Learning Plan & Unit CalendarUBD Template

MondayAlignTuesdayAlignWednesdayAlignThursdayAlignFridayAlign

Week 1Bell Question: What is purpose of money?EQ: 1Bell Question: PrioritizingEQ: 2, 3Bell Question: Ideal JobK: 7Bell Question: Where do you want to live in 10 years?EQ: 3, 6Bell Question: How do you want to get around town in 10 years?EQ: 3, 6

Unit Intro: What is the purpose of money?EQ: 1Individual work: brainstorm possible future purchases (short-term and long-term)U: 1 K: 5, 9, 14Introduce Unit Project PortfolioU: 1-5 K: 1-9, 11-14S: 1-8Compile class list of future residences. Whole class discussion of what it means to buy a home and how much it costs in various areas.U: 1 K: 1, 2 S: 1, 5Compile class list of future cars/vans/bikes/etc.K: 1, 5, 9 S: 5

Class discussion: What do we use money for?EQ: 1, K: 14Individual work: look at spending from last week and create budget based on that and other monthly purchasesU: 1, 2, 4K: 2S: 1Smaller group discussion based on Bell Question: discuss how to get the job they want.K: 7Lecture: Buying/renting a home, apartment, and other living situationsU: 1, 2 K: 1, 2, 4, 6, 8, 9 S: 2, 5, 6Lecture: Buying/renting cars and other transportation optionsU: 1 K: 1, 2, 5, 8, 9 S: 1, 2, 5

T/P/S: What money goals do you have?U: 1-4 K: 5, 9, 14 S: 2Small group work: figure out a given family's budgetU: 1, 2, 4K: 1, 2, 3, 6, 9, 14S: 1-4Lecture: Taxes- where does our money really go?U: 1 K: 4, 7

Lecure: Money and GoalsK: 5, 9, 14homework: look up a salary for their chosen job and estimate yearly taxesU: 4 K: 1, 2, 4, 7 S: 1


Week 2Bell Question: How do you use money?EQ: 1Bell Question: When have you needed a back-up plan?EQ: 5, 6, 7Bell Question: Wish listEQ: 4Bell Question: Ideal College/Other plansEQ: 2Bell QuestionU: 1-5

Lecture: Managing CreditU: 1-3 K: 3, 9Class discussion: What is povertyEQ: 6Individual work: Bell question- affordable?U: 1, K: 5, 9 S: 2Class discussion: bell questionEQ: 2Guest SpeakerU: 1-5

Small group work: each person researches a single credit card company; then they compare as a groupU: 3 K: 3, 9, 14 S:8T/P/S: homeless profilesU: 2, 4 K: 3, 6-11, 14 S: 1, 2, 5, 6Large group discussion: Bell Question and homework assignment (adapting to change in personal budget)U: 1 K: 5, 9 S: 2, 3Individual research: looking at various options for after graduation lifeK: 5 S: 2Q&A w/ speakerU: 1-5

Lecture cont.: Managing CreditU: 1-3 K: 3, 9Lecture: Standards of Living: government vs. the peopleU: 4 K: 1, 2, 6, 8-11, 14 S: 3, 6Lecture: Staying out of debtEQ: 1, 8 U: 1, 2 K: 3, 6, 14 S: 4Group discussion: ways to pay for educationK: 5 S: 2Individual work: time to work on unit projectU: 1-5

homework: reading from the bookU: 3 K: 3, 9, 14 Small group work: (same groups as week prior) groups given an issue of some sort they need to accommodate for in budgetU: 1, 2, 4K: 1, 2, 3, 6, 9, 14S: 1-4Quiz: managing credit and unemploymentU: 3, 4 K: 3, 6-11, 14 S: 1-4, 6, 8Individual research: list of 5 ways they can pay for collegeK: 5 S: 2

Exit slip: what does poverty mean?K: 14Exit Ticket: Question for guest speakerU: 1-5


Week 3Bell Question: InsuranceEQ: 3Bell Question: stocks vs. bondsEQ: 1Bell Question: Review QuestionsU: 1-5Turn in unit projectU: 1-5

Lecture: InsuranceU: 2 K: 1, 2, 8 S: 3, 5Lecture: InvestingU: 1 K: 4, 12-14 S: 7Individual work: time to work on unit project or study for final examU: 1-5Unit ExamU: 1-5

Individual work: insurance worksheetU: 1K: 7, 8, 14S: 1, 5Partner Quiz: InvestingU: 5K: 12, 13, 14S: 1, 7Class discussion: review for unit examU: 1-5

Individual work: time to work on unit projectU: 1-5

Extra Credit overviewU: 1, 5K: 12, 13,14S: 1, 7

UNIT PROJECT INFORMATION:

Students will create a portfolio containing personal finance components of a possible career they will have in the future (roughly 10 years from present day). Components will include the following: A career- including a reasonable salary with a calculation of estimated yearly taxes owed to the government A balanced budget of one years income and expenses, putting the student in a good financial position A place of residence- including a print-out of a realty listing and a plan of how to pay for it A means of transportation- including payment methods if necessary. An accommodation of a financial bump (given by teacher half-way through the unit). Including a revised budget, if necessary. An investment plan

Rubric for Activity:ABCDF

Mechanics: grammar and punctuation(15%)Less than one error per page throughout portfolio.Average of 1-2 errors per page throughout portfolio.Average of 3-4 errors per page throughout portfolio.More than 5 errors on any one page in portfolio.More than 7 errors on any one page in portfolio.

Content(30%)All requested components are submitted.One component is missing.Two-three components are missing.Four components are missing.Five-six components are missing.

Professionalism(15%)Portfolio submitted is presented neat and professional.Portfolio submitted is presented nicely, has room for professional improvement.Portfolio submitted has much room for improvement of professional presentation.Portfolio submitted completely unprofessionally, clearly a draft.Portfolio submitted completely unprofessionally, clearly a draft.

Data(40%)Components presented are reasonable. Budget is balanced. Components are fairly reasonable. Budget is balanced.Components are somewhat questionable. Budget is not balanced.Components are quite questionable. Budget may or may not be balanced.Components are completely unreasonable. Budget is not balanced.

Instructional Items:Students will be provided with a check list of the items they need to complete. Reminders will be periodically given throughout the unit and become more frequent closer to the due date.When each section of the portfolio is covered during class I will connect the course content back to the portfolio. Students will be given opportunities and encouraged to ask questions.

Sample Lesson Plans for the Unit:

Lesson #1Lesson SummaryManaging Credit

Students will learn about the advantages and disadvantages of credit (cards). Different types of credit, credit lines, and credit cards. They will also learn how to effectively manage credit in a way that will benefit them as a consumer. They will learn through a presentation and be given time to practice. We will discuss what credit means to them, ways they use money, and ways to smartly use money. They will also have an opportunity to look at specific credit card companies and what each of them has to offer.

Lesson Objective(s)9) Students will be able to distinguish the differences between good and bad credit and be able to apply it to their unit project.

Materials/Resources required PowerPoint lecture and notes for me Worksheet for practice problems with answers Worksheet for comparing credit card companies

Desired Results

Established Goals: (Including state standards) Understand the function of common financial instruments. (Iowa Core)

Essential Questions:1) What qualifies as a large purchase? 2) Why are large purchases necessary?3) What happens when I need to buy something unexpectedly?

Understandings: Students will understand that6) How to manage a personal budget.7) One needs to plan for unexpected, necessary purchases. 8) Credit card companies are out to make money, and personal debt is bad if it is not well managed, but some debt can be good.

Knowledge: Students will know 15) How to manage debt in a way that will benefit their economic standing.16) How to plan for large purchases, college, and retirement.17) How to prioritize purchases

Skills: Students will be able to 9) Make decisions about purchasing large priced items and everyday purchases.10) Adapt their budget for unexpected necessary purchases.11) Manage debt in a way that does not hurt them financially.

Assessment Evidence

Performance Tasks/Formal/Summative Assessment: Task / AssessmentUP Connects

15) Worksheet: credit cards, debt safety ratio, and loan repaymentsU: 3K: 3, 14S: 4, 8


17) Unit examU: 1-5K: 1-14S: 1-4, 6, 7

Other Evidence/Informal/Formative Assessment:Task / AssessmentUP Connects

6) Small group: Researching and comparing credit card companiesU: 3K: 3, 9, 14S: 8

7) Homework: reading credit section from bookU: 3K: 3, 9, 14


Detailed Steps/Procedures

Learning actionTime (mins)

INTRO: Today we are working on developing a budget. You will be researching your salaries and figuring out where you want to live.

1) Attendance/Bell Question: How do you use money?3 minutes

2) Discussion: What does credit mean to you?What is the purpose of using credit?What are some good and bad ways of using credit cards?5 minutes

3) Lecture: Managing credit in a positive way10-15 minutes

4) Practice problems: debt safety ratio/monthly payments and go over answers.8-12 minutes

5) Small Group work:Have students get into groups of 3-4One person in each group will research one of the following credit card companies: Visa, Discover, Mastercard, American ExpressWhen done researching, members will compare and contrast pros/cons of each company10-15 minutes

6) Closing class time procedures: announcements, homework/project reminders, time to get ready to go to next class2 minutes

Lesson #2Lesson SummaryPoverty and Unemployment

Students will be learning about poverty and what that means to the government and to the individual. At the start of class, I will gauge what they consider to be poverty and living in it before the lesson, and then at the end of class after they have learned, they will turn in an exit ticket to see how their definitions have developed. We will discuss what poverty means before the lecture and the lecture will clarify the differences between what the government thinks is living in poverty versus what it is like to live just above the poverty line. Students will have an opportunity to look at various profiles of different poverty situations and compare and contrast them. They will also have a chance to accommodate for a financial issue in the budgets they balanced last week.

Lesson Objective(s)1) Students will be able to identify what poverty is in regards to the government and to the people.10) Students will be able to make choices and prioritize in regards to their budgets, while keeping it balanced.

Materials/Resources required PowerPoint Lecture and notes for me Profiles of homeless people Worksheets from previous week with financial issue

Desired Results

Established Goals: (Including state standards) Understand the role of scarcity and economic trade-offs and how economic conditions impact peoples lives. (Iowa Core)

Essential Questions:1) What is the purpose of money?2) What is the role of a budget?3) If my budget changes, how does it affect me?4) What is a good standard of living? Is it the same for everyone?5) What happens if I get fired?

Understandings: Students will understand that1) Unemployment is a complex state that has advantages and disadvantages for the economy and the individual.

Knowledge: Students will know 1) How much in taxes they pay and where it goes to in the government.2) The importance of emergency funds.3) Some unemployment is good for the economy as a whole.18) There are a variety of benefits and disadvantages to unemployment and the possibility of it for the individual needs to be planned for in advance.

Skills: Students will be able to 1) Compare and contrast the benefits and disadvantages for various living situations.

Assessment Evidence



19) Part 1: Students will work as a group to figure out a budget for a typical American familyPart 2: Accommodate for a financial issueU: 1, 2, 4K: 1, 2, 3, 6, 9, 14S: 1-4


21) Exit Slip: answer: What does it mean to live in poverty?K: 14



10) T/P/S: look at profiles of homeless individuals and discussing other options and what they would doU: 2, 4K: 3, 6-11S: 1, 2, 5, 6



INTRO: Today we will be discussing poverty and the importance of emergency funds.

1) Attendance/Bell Question: When was there a time in your life when you needed a back-up plan?4 minutes

2) Class Discussion: What is Poverty? What does it mean to live in poverty?

Transition into groups of 2-3 (students may choose group)6 minutes

minute

11) Think/Pair/Share:Read and discuss profiles of select homeless people/situations:What are common factors?What is something unique to each situation?What could have prevented each of them from becoming homeless?10 minutes

12) Lecture: government standards vs. the peoples standards (of living)18 minutes

13) Small group work: get into groups from last week (names are on worksheet)Accommodate for a financial issue- written on worksheet7 minutes

14) Closing class time procedures: announcements, homework/project reminders, time to get ready to go to next class. Exit slip: after this lesson, write on a sticky note what it means to live in poverty.5 minutes

Lesson #3Lesson SummaryBuying a House

Students will learn the ins and outs and dos and donts of buying a house. When students walk into class, they will come up with one or two ideal cities they would like to be living in about 10 years; during which I will take attendance. Their responses will be combined and written at the front of the room for reference during the lecture. Then go through the powerpoint while discussing the positives and negatives of homeownership.

Lesson Objective(s)1) Students will be able to distinguish the good and bad aspects of being a homeowner in regards to finances

Materials/Resources required PowerPoint lecture and notes for me

Desired Results

Established Goals: (Including state standards) Make large purchases and maintain a standard of living under a specified monetary budget Understand the function of common financial instruments. (Iowa Core)

Essential Questions:1) Why are large purchases necessary?2) What is the role of a budget? 3) What is a good standard of living? Is it the same for everyone?

Understandings: Students will understand that1) How to manage a personal budget.2) One needs to plan for unexpected, necessary purchases.

Knowledge: Students will know 1) The average prices of different types of homes, cars, and other large price items.2) The average cost of living in Des Moines, Iowa compared to that of another city in a different state or country.3) How much taxes they pay and where it goes to in the government.4) How to plan for large purchases, college, and retirement.5) The importance of emergency funds.6) The various types and costs of insurance- which types are necessary and which are not.7) How to prioritize purchases.8) There are a variety of benefits and drawbacks to unemployment and the possibility of it for the individual consumer needs to be planned for in advance.

Skills: Students will be able to 1) Manage their own budget (the one they have), and manage a makeshift budget (one based on a possible career they might have in the future).2) Make decisions about purchasing large priced items and everyday purchases.3) Adapt their budget for unexpected necessary purchases.4) Research various types of insurance, housing situations, and transportation situations.5) Compare and contrast the benefits and disadvantages for various living situations.

Assessment Evidence








INTRO: Today we will discuss the process of buying a house

1) Attendance/Bell Question (Where do you want to live in 10 years?)3 minutes

2) Compile answers to bell questiona. Ask for student volunteer to write (legibly) at front of room5 minutes

2) Ask students questions to see how much they think they knowWhat is the purpose of a home?What are the different housing options available?What do you think the average cost of a one story house is in Des Moines? How about Hollywood? Or Washington D.C.? Or Houston?What about larger homes?

Look up some examples in select cities from BQ10-15 minutes

3) Lecture: Advantages and Disadvantages of Homeownership20-25 minutes

4) Closing class time procedures: announcements, homework/project reminders, time to get ready to go to next class2 minutes

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