FINANCIAL LITERACY Grades 6, 7 and 8

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FINANCIAL LITERACYGrades 6, 7 and 8

• School District of Philadelphia
• Office of Curriculum and Instruction
• Paul G. Vallas, Chief Executive Officer
• Gregory E. Thornton, Ed.D., Chief Academic
  Officer
• Cecilia P. Cannon, Associate Superintendent

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Social Studies Instructional Model
Financial Literacy is part of the social studies
Instructional Model
Financial Literacy is based on the Economics
Standards
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Financial Literacy

• We must teach the skills that every young person
  needs to make good economic choices and financial
  decisions.
• Senator Daniel Akaka, Hawaii, 2005

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Rationale

• Young people are entering the workforce without
  knowledge of how the world works
• There is a spiraling rate of personal
  bankruptcies
• There is a spiraling rate of credit card debt
• Young people lack an understanding of savings and
  investing
• Young people lack an understanding of the
  importance of a global economy

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How to use the Module

• The lessons are carefully crafted to align with
  each six-week cycle of the social studies
  curriculum
• The financial literacy module should not be used
  separate from the social studies curriculum
• The Planning and Scheduling Timeline is the guide
  to using the module

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Lessons

• Each six-week cycle has two lessons aligned with
  the focus question in the Social Studies Core
  Curriculum
• The first lesson always focuses on Economic
  Reasoning (1A)
• The second lesson always focuses on Financial
  Literacy (1B), or making good financial decisions

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Planning and Scheduling Timeline
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Content Covered in Grade 6

• Economic Reasoning
• Scarcity
• Opportunity cost
• Incentives
• Choices
• Risk
• Criterion
• Profit

• Financial Literacy
• Spending
• Decision Making
• Banking
• Budgeting

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Content Covered in Grade 7

• Economic Reasoning
• Opportunity cost
• Incentives
• Risk
• Criterion
• Markets
• Cost and Benefits of Taxation

• Financial Literacy
• Spending
• Savings
• Decision making
• Budgeting
• Credit
• Taxes

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Content Covered in Grade 8

• Economic Reasoning
• Allocation of Resources
• Types of Resources
• Opportunity Cost
• Incentives
• Risk
• Markets
• Specialization

• Financial Literacy
• Entrepreneurship
• Savings
• Decision Making
• Specialization
• Personal Human Resources
• Lifelong Learning
• Innovation

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Design of Lessons

• Lessons are designed to be self-directed allowing
  students to work independently or in groups
• Teachers lead the introductory and debriefing
  discussions
• Each lesson includes what students are expected
  to learn about economics and money management
• Each unit also includes a question relating
  economic reasoning to the focus question in the
  social studies curriculum

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Background for Teachers

• After an overview of the module, you will find
  background reading for the teacher on page 5
• A Note About Economics and Economic Reasoning is
  at the top of the page

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Note to Teacher

• You will notice an arrow with
• Note to Teacher throughout the module
  with additional information for teachers

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Activities That Accompany Lessons

• Each lesson has activity pages that accompany the
  lesson
• Teachers can use the pages in the module or
  recreate them electronically, on the board or on
  a poster

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Debriefing Questions

• Each lesson has debriefing questions that are
  aligned to the lessons and the social studies
  curriculum
• Teachers should use the questions at the end of
  the activities

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Teacher Support

• Our friends at Economics PA will work with the
  Office of Curriculum and Instruction to offer
  summer staff development for teachers of grades
  6, 7, and 8
• August 8 - 10, 2006
• (9 am 12 noon)
• Register online

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Remember

• The Planning and Scheduling Timeline is the guide
  to using all of the modules
• There will also be new Philadelphia Voices
  Modules delivered in the fall for grades 6, 7,
  and 8
• Juvenile Justice Modules will remain the same

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Modules on SchoolNet

• All modules will be accessible on SchoolNet with
  username and password
• Curriculum supports on CI website at
• www.phila.k12.pa.us/offices/curriculum
• Contact Melvin Garrison at
• mgarriso_at_phila.k12.pa.us or 215.400.5694

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Questions or Concerns

• Dr. Mary Lou Fischer, Executive Director
• mfischer_at_phila.k12.pa.us
• Melvin Garrison, Social Studies
• mgarriso_at_phila.k12.pa.us