Baltimore County Public Schools

Division of Curriculum and Instruction

Unit 1: Personal Financial Decision Making

Essential
Question

How can individuals make effective personal financial decisions?

The big
picture
I can describe the roles of scarcity and opportunity cost in personal economic
decision making.
I can describe the advantages and disadvantages of being an entrepreneur.
I can categorize employee benefits.
Knowledge I can explain how my personal financial decisions contributes to well-being,
Targets
community development, and quality of life.
I can explain how the use of financial institutions impacts individuals.
What I need I can examine the effects of saving and investing.
to know
I can compare various payment methods and options.
I can summarize the process and responsibilities of acquiring credit and
maintaining credit worthiness.
I can explain the consequences of not meeting credit obligations and the
significance of credit reports and credit scores.
I can define the following terms in relation to the topics of this unit:
acceptance
debit card
lender
agreement
debt
marginal analysis
amortization
debtor
marginal benefit
bankruptcy
decision making
marginal cost
benefits
decision making process
needs
budget
disability benefits
offer
capacity
diversified
opportunity cost
career
economics
periodic expense
character
employee benefits
philanthropy
check
entrepreneur
promissory note
collateral
entrepreneurship
retirement plan
community development
ethical reasoning
scarcity
consideration
expense
speculation
contract
financial literacy
spending plan
cost/benefit analysis
financial planning
stock
credit
fixed expense
three Cs of credit
worthiness
credit bureau
fraud
trade-off
credit card
futures
values
credit report
goal
variable expense
credit score
identity theft
volunteer service
creditor
income
wants
creditor
I can apply marginal decision making in developing strategies to achieve
personal economic goals.
Economics and Public Issues

Summer 2016

Baltimore County Public Schools

Reasoning
Targets
What I can
do with
what I know

Skill
Targets
What I can
demonstrate

Product
Targets
What I can
make to
show my
learning

Division of Curriculum and Instruction

I can explain how my interests, skills, values, education and current economic
conditions influences possible career paths.
I can contrast possible career paths in terms of their potential income and
level of personal satisfaction.
I can evaluate the use of budgeting.
I can analyze legally binding contracts.
I can evaluate the advantages and disadvantages of credit.
I can create short- and long-term personal economic goals.
I can determine strategies for saving and investing.
I can compare the level of risk and the potential rate of return of various
investment alternatives.
I can analyze factors to consider when purchasing insurance.
I can determine the impact of personal income tax on financial planning.
I can calculate the cost of borrowing money.
I can determine strategies that consumers can use to protect against fraud.
I can take a position on the essential question for the unit, How can
individuals make effective personal financial decisions? in the context of
topics addressed during the unit.
I can describe a details and examples to support my explanation from the
following topics:
Factors affecting earning potential
Short- and long-term goals
Financial institutions and options
Financial health

I can present my position in a thoughtful

and organized manner.

I can create one of the following products to

express my response:
o Infographic
o Essay
o Pamphlet
o Perform a skit
o Financial portfolio

Economics and Public Issues

Summer 2016