Strategies for Success Course Outline and Objectives

I. UNIT I: ACHIEVING SUCCESS IN SCHOOL

A. Introduction to the Academy 1. compare reasons for applying to the Academy 2. describe the philosophy and goals of the Academy program 3. list Strategies for Success course goals 4. consider special courses offered in the Academy

B. Personal Experiences 1. draw conclusions as to the value of journal writing 2. use the guiding principles and appropriate methods for writing entries

C. What Makes a Good Rule? 1. analyze what makes a good rule 2. prepare and recognize an agenda 3. prepare a list of personal rules

D. Tour of School 1. identify and locate sources of help within the school building 2. visit all key school offices and services

E. Tour of Library 1. describe services offered by the school library 2. explore available computer services (e.g., catalog of library materials, references on CD ROM, Internet access, Web Sites) 3. locate specific references relating to investigating careers

F. Tour of Guidance Office 1. identify staff persons and their areas of expertise or responsibility 2. describe services provided and methods of obtaining them 3. explore how to get help from the Guidance Office for a specific problem situation

G. Tour of Health Facility 1. determine what health care your school provides 2. decide on the appropriate method of obtaining services 3. explore the available services at your school's medical facility or a local health facility

H. A Good Textbook Consumer 1. describe the purpose of various parts of the textbook 2. interpret visual materials (charts, graphs, cartoons) 3. apply a sample study technique

I. Studying Effectively 1. assess their strengths and weaknesses with respect to study skills 2. obtain skills to make class notes more organized and useful 3. distinguish various study skills required for different subjects and tasks

J. Your Workspace 1. establish criteria for an effective workspace 2. design an ideal plan for using classroom space

3. list additional workspaces available in school 4. design their own personal workspace

K. Organizing Work Reports 1. categorize research information 2. propose strategies for producing a research report by a deadline

L. Investing “Free” Time 1. estimate their current expenditures of free time 2. classify their current expenditures of free time 3. evaluate their current expenditures of free time 4. explore extracurricular activities in which they can invest their free time and compare the relative benefits of each 5. plan for investing free time to achieve specific goals

M. How Does a Group Work? 1. compare the contributions of individuals in a group 2. assess the effectiveness of a group at accomplishing a task 3. differentiate factors that help and hinder effective group process

N. Planning Group Research 1. analyze contributions of group members 2. propose ways to deploy group members to best accomplish a task 3. develop a group action plan for researching the costs of a college education and ways to finance it

II. UNIT II: DEVELOPING LIFE SKILLS A. Values Clarification

1. identify and prioritize their work values 2. analyze the extent to which they act on their values 3. evaluate occupational descriptions to determine related values 4. compare their work values to three job descriptions of careers that interest them

B. Time Management Principles 1. analyze how they spend their time 2. propose strategies to maximize the use of time

C. Using Time Wisely 1. evaluate strategies for more effective use of time 2. apply time management strategies to a simulation exercise and their lives

D. Decision Making Strategies 1. analyze the relationship between decisions and values 2. list strategies that assist in making decisions wisely 3. apply strategies in a simulation exercise

E. Negotiation Skills 1. compare and contrast effective and ineffective approaches to negotiation 2. discuss criteria for successful, fair negotiations 3. analyze criteria for successful, fair negotiations 4. practice using criteria for successful, fair negotiations 5. learn general phrases to help initiate successful, fair negotiations

F. Oral Communication Skills

1. recognize characteristics of successful oral communication 2. apply the principles of good oral communications in simulated situations

G. Written Communication Skills 1. identify the appropriate processes in the organization of a successfully written letter 2. obtain the skills to identify the influence of a well-crafted written piece on the reader

H. What Causes Stress? 1. identify some of the body's natural responses to stress 2. list causes of stress in their lives 3. categorize causes of stress in their lives 4. rank order causes of stress on an individual basis

I. Stress Management 1. compare and contrast behaviors that increase or decrease stress resistance 2. apply strategies to at least two different stress-producing situations

J. Becoming Active Citizens 1. list basic rights and responsibilities of U.S. citizens 2. describe methods for nonvoting teens to participate in formal government (laws, policies, and procedures) as well as in public service sectors of society 3. select a major problem facing the country and plan how the class can become personally involved in trying to help make informed decisions about pending legislation

K. Planning a Career Fair 1. identify occupations to be represented at the fair 2. work in committees to develop Career Fair action plans, including 3. obtaining necessary permissions to conduct the fair at a location in the school 4. scheduling and arranging for all site-related requirements 5. determining time parameters for presentations, visiting booths, setting up and cleaning up before and after the fair 6. assemble local industry employees and professionals to exhibit and speak at the Career Fair 7. work individually to accomplish specific planning tasks 8. manage their efforts using record-keeping strategies 9. maintain a time schedule

III. UNIT III: PLAN YOUR WORKING FUTURE A. Lifestyle and Career Paths

1. recognize the forces that dictate lifestyle choices 2. identify personal lifestyle choices and analyze their implications 3. relate lifestyle choices to students' ideas about quality of life

B. Setting/Achieving Goals 1. differentiate between the meaning of "goal" and "objective" 2. propose strategies leading to goal realization 3. recognize the relationship between values and establishment of goals

C. Designing Your Game Plan 1. design an individual five-year game plan, listing major personal and financial issues to be considered 2. trace the relationship between present behavior and long-term goals

D. Attitudes for Success 1. measure their own attitudes towards success 2. examine attitudes conducive to success 3. propose ways to overcome roadblocks to success

E. Planning a Group Debate 1. select the team members who can best serve the group in a debate 2. demonstrate the skills needed to plan a debate

F. Debate: Roads to Success 1. listen in a team debate 2. participate in a team debate 3. evaluate the presentations using established criteria

G. Using Community Resources 1. identify community resources and suggest community resources 2. locate information about their community in print media

H. Planning Our Site Visit 1. select a site to visit based on what can be learned from the site 2. prepare questions to be answered through observation and interviewing during a site visit 3. prepare the logistics of a site visit

I. Evaluating Our Site Visit 1. synthesize the perceptions of what they observed during their site visits 2. develop conclusions and generalizations concerning the jobs/careers they experienced during the site visit

J. Presenting Career Reports 1. present research on possible careers 2. demonstrate expository oral communication skills 3. analyze the requirements, demands, and satisfactions of various jobs

IV. UNIT IV: SUCCESS IN THE JOB SEARCH A. Developing a Work Ethic

1. recognize the forces that influence the development of their own work ethic 2. obtain an understanding of the meanings of the components of work

B. Organizing Your Wardrobe 1. describe appropriate dress for various work environments 2. propose ways to expand a limited wardrobe 3. develop a one-week plan for a working wardrobe

C. Interviewing and Resumes 1. design five interview questions 2. conduct interviews and share results 3. prepare a group profile 4. prepare a personal resume

D. Persuasive Communication

1. recognize the effects of culture and gender on communication 2. relate the ways persuasive skills are necessary during an interview and in the business environment

E. Prepare for Job Interview 1. use persuasion to "sell" their own abilities and experience 2. reflect as if they are in a real job interview 3. speak as if they are in a real job interview 4. act as if they are in a real job interview 5. evaluate as if they are in a real job interview

F. Performing in a Job Interview

V. UNIT V: SUCCESS ON THE JOB A. Understanding Job Duties

1. identify ways in which they can orient themselves to their new jobs 2. prepare themselves for a new work or school environment

B. Keeping Accurate Files 1. recognize the rules and conventions of proper note keeping and recording of data 2. transfer the processes of good filing and record keeping to a practical application

C. Personal Hygiene 1. recognize what constitutes good personal hygiene 2. apply the principles of good personal hygiene to the marketplace

D. Adapting Communication Style 1. recognize the consequences of poor communication skills 2. give examples of communication signals, both verbal and nonverbal 3. develop changes in behavior necessary for adjustment to the business world

E. Bridging the Gender Gap 1. distinguish between traditionally male and female communication styles 2. consider obstacles women may need to overcome to succeed in the business world 3. propose strategies men and women may employ to help bridge the gender gap

F. Criteria for Job Success 1. recognize the qualities of job effectiveness 2. apply the skills and principles of sound job retention to a role model

G. Evaluate Job Effectiveness 1. review real world criteria and processes for measuring job effectiveness 2. analyze why particular qualities are valued by employers 3. consider the impact of communication skills on job effectiveness

H. Giving and Taking Criticism 1. define constructive criticism 2. give reasons why both giving and taking criticism can be difficult 3. role-play a work-related evaluation situation 4. propose ways to make criticism productive

VI. UNIT VI: SHARING OUR SUCCESS

A. Presenting Group Report 1. share individually collected information with group members and organize it for a written group report 2. plan the format for presenting the information in a report 3. use review and editing skills to create a final report 4. evaluate written reports using specified criteria 5. demonstrate the ability to use presentation software

B. Conducting a Career Fair 1. listen actively to presentations by jotting down notes and asking question 2. discuss specific occupations and businesses with exhibitors 3. evaluate the Career Fair plan 4. write thank-you letters on behalf of the class to the exhibitors and speakers

VII. UNIT VII: SUCCESS IN THE FINANCIAL SERVICES INDUSTRY A. Getting a Head Start

1. define key terms associated with the Academy and with NAF 2. explain the relationship between the Academy and NAF 3. determine the benefits of enrolling in the Academy 4. analyze the NAF mission

B. Expanding Your Vocabulary 1. begin to compile a financial/economic glossary 2. recognize the special language requirements of banking and finance 3. develop a strategy for expanding vocabulary

C. Oral and Written Communication in Business 1. discuss the need to know standard English in a business environment 2. understand the need to be fluent in conversational English 3. differentiate between accepted English and slang 4. identify errors in a business memorandum 5. complete an employment application

D. Business Communication 1. discuss the importance of preparing effective written communications in business 2. explain the elements of effective written communications in business 3. demonstrate the use of effective written communication skills

E. Decision Making 1. develop a plan to determine the consequences of a decision 2. evaluate decision-making strategies

F. Opportunity Costs 1. understand the concept of opportunity costs 2. analyze the consequences of decisions 3. evaluate a plan of action

G. Valuing Other Cultures 1. compare and contrast cultural differences between Americans and people from other countries 2. discuss the importance to Americans in the financial services industry of having a greater understanding of the cultures of people from other countries

3. develop strategies for learning about other cultures H. Dressing for Success

1. discuss the role that people’s clothes play in their personal lives 2. examine the elements of and guidelines for a business wardrobe 3. evaluate the importance of appropriate dress in business

I. Evaluate the Strategies for Success Course 1. identify the various uses and benefits of evaluations 2. assess the content covered by this course and the effectiveness of the methods of instruction 3. assess personal learning achieved relative to the strategies of this course

NATIONAL ACADEMY FOUNDATION

CURRICULUM GUIDE

BANKING AND CREDIT

Curriculum: Academy of Finance Class Title: Banking and Credit Course Description: This is a one semester course presenting a survey of the principles and practices of banking and credit in the United States. The students learn about the history of banking and the importance of banking in the United States, the major functions of banks and other depository institutions, in-house operations and procedures, central banking through the Federal Reserve System, and modern trends in the banking industry. The credit component provides an overview of credit functions and operations including credit risk evaluation, loan creation and debt collection. Students must also complete a semester-long project, such as the Fed Challenge. Course Prerequisites: Introduction to Financial Services or Economics and the World of Finance Objectives: The student will

• Understand the importance of banking in the United States • Explain how the modern banking system developed • Identify and evaluate banking laws and regulations • Explain the various services of commercial and retail banks • Demonstrate how the Federal Reserve makes monetary policy • Understand the activities, risks, and supervision of international banking • Identify how technology has affected the banking industry • Identify personal skills that would be useful for a career in the banking industry

I. UNIT 1: INTRODUCTION A. Importance of Banking

1. Identify the differences between types of financial institutions in the United States

2. Identify key current issues in banking B. Features of Banks

1. Define: bank, comprehensive non-bank financial institution, insurance company, investment bank, finance company, real estate company, securities brokerage firm, commercial paper

2. Explain the distinguishing features of each type of financial firm 3. Identify the factors that make banks unique as financial institutions

C. Banks and the Economy 1. Define: financial intermediary, deposit, payment, credit functions 2. Describe the three major functions of banks 3. Explain how banks make the circular flow of economic activity possible

D. Banks and Financial Service 1. Explain why the financial service industry is important to economic growth 2. Explain how banks provide investments for economic growth 3. Define the concept of "monopsony" 4. Draw a flow chart describing the effect on banks when consumers use other

financial institutions 5. List several ways banks are providing financial services

II. UNIT 2: HISTORY OF U.S. BANKING A. Early Problems

1. Describe the functions of the two Banks of the United States in their roles as central and commercial banks

2. Evaluate the arguments used by supporters and opponents of a U.S. Bank 3. Explain how the two Banks of the United States helped to stabilize the pre-

Civil War banking system B. Banking Reform During the Civil War

1. Analyze the major reforms adopted in the National Banking Act of 1864 2. Explain the reasons for the Banking Act of 1864 3. Evaluate the effectiveness of the National Banking Act of 1864 as a reform measure

C. Federal Reserve Act 1. Describe three weaknesses of the National Banking System before 1913 2. Explain three provisions of the Federal Reserve Act of 1914 3. Explain how the provisions of the Federal Reserve Act of 1914 corrected the

weaknesses of the National Banking System D. The Great Depression

1. Explain why so many banks failed during the 1930s 2. Describe the impact on the U.S. economy of massive bank failures on the U.S.

population during the 1930s 3. Explain how the FDIC has added stability to our banking system since its

creation in 1934

4. Explain how Regulation Q fostered security at the price of competition 5. Evaluate the effectiveness of the banking reform measures enacted during the 1930s

E. Deregulation 1. explain the process by which deregulation of banking has taken place 2. evaluate the impact of deregulation on the general public 3. assess the challenges and opportunities that deregulation posed for the

banking industry F. Savings and Loan Crisis

1. Define brokered deposits 2. Explain the role of the major factors causing the collapse of the S and L

industry: a) Fed efforts to curb inflation, b) deregulation, c) risky growth, d) fraud, e) recession, f) lax regulation, e. g., political influence

G. The FDIC 1. Understand the reasons why some believe our deposit insurance system is in need of reform 2. Understand the concepts of moral hazard and “too big to fail”

III. UNIT 3: BANKING IN THE U.S. TODAY A. Commercial Banks

1. Define bank, thrift institution, NOW account, passbook savings account, certificate of deposit, money market account, foreign exchange, trust account, overdraft credit 2. Categorize bank services according to the basic banking functions of deposit, payment, and credit 3. Explain the range of services provided by a full-service bank

B. Depository Institutions 1. Define commercial bank, savings and loan association, savings bank, and

credit union 2. Explain how legislative changes and competitive changes have made banks,

thrifts, and credit unions less distinctive from one another 3. Interpret graphs showing how S and Ls, savings banks, and credit unions use

their funds (new objective) C. Depository Institutions vs. Non-Depository Financial Institutions

1. Define various types of financial institutions that compete with insured depository institutions such as commercial banks

2. Explain how the products and services of depository institutions and non-depository financial institutions overlap

3. Explain why banks complain that they are at a competitive disadvantage with non-depository financial institutions

D. Mergers and Consolidation 1. Explain how bank mergers and consolidations within the banking industry

strengthen banks and the industry 2. Explain why mergers and consolidations within the banking industry may

adversely affect consumers

E. Financial Modernization 1. Explain the effects of recent legislation on bank expansion 2. Evaluate banks' decisions to expand their geographic reach

F. Capital and Circular Flow 1. Describe the circular flow of capital, and goods and services, through the

economy 2. Describe how banks convert savings into investments 3. Examine the nature of direct and indirect lending

G. Bank Regulation 1. Describe the overlapping roles of the Comptroller of the Currency, Federal

Reserve Board, FDIC, and state banking authorities in regulating banks 2. Evaluate the criteria that bank examiners should be using in determining bank

solvency 3. Evaluate the statement "Too many hands spoil the brew in banking

regulation" H. The Impact of Technology

1. Examine some of the existing and proposed technological innovations in banking 2. Assess the impact that technology has had and will have on banking

I. Community Reinvestment Act 1. Explain the basic premise of the Community Reinvestment Act (CRA) 2. Summarize the arguments for and against the CRA 3. Obtain information from a bank that can be used to learn about the bank’s

CRA program and evaluate its effectiveness IV. UNIT 4: RETAIL BANKING (Under review) V. UNIT 5: THE CENTRAL BANK

A. The Fed: Today’s Headlines and Historical Backgrounds 1. Draw conclusions about the Fed from recent headlines 2. Explain the reasons why the actions of the Fed make headlines 3. Discuss the economic and financial conditions at the end of the 19th and

beginning of the 20th centuries that led to the creation of the Federal Reserve 4. Analyze the arguments supporting and opposing the creation of the Federal

Reserve B. Overview of the Federal Reserve System

1. Describe the structure and functions of the Federal Reserve System 2. Evaluate reforms that have been proposed for restructuring of the Fed 3. Analyze the arguments of those who favor and those who oppose the Fed’s independence 4. Take a stand for or against a continuation of the Fed’s independence

C. Making Monetary Policy 1. Describe the structure and decision-making process of the FOMC 2. Analyze economic, financial, and international economic conditions relevant

to monetary policymaking decisions 3. Decide the direction for current monetary policy based on current and

projected economic, financial, and international economic conditions D. Participating in the Payments System

1. Explain the role played by the Fed in check-processing 2. Examine the evolution toward a cashless/checkless society 3. Discuss the advantages and disadvantages of moving to a cashless/checkless

society E. Supervisory and Regulatory Responsibilities

1. Analyze the Fed’s regulatory and supervisory responsibilities 2. Explain how the Fed’s regulatory and supervisory roles support the goal of maintaining a safe and sound banking system

VI. UNIT 6: RETAIL BANKING OPERATION (Under review) VII. UNIT 7: INTERNATIONAL BANKING

A. An Overview of International Banking 1. Define the term “international banking” and provide a profile of

internationally active U.S. banks 2. Describe the different types of entities used by banks to conduct their

international activities 3. Provide perspective on the nature and volume of the international activities

U.S. banks B. International Activities of Banks

1. Describe the different ways in which a bank can conduct international transactions on behalf of its customers

2. Understand the global presence of some multinational banking institutions C. Risks Associated with International Banking

1. Describe the various risks that affect the domestic and international activities of banks

2. Describe the effects of an international debt crisis on banks 3. Explain the purpose of the International Monetary Fund

D. Supervision of Internationally Active Banks 1. Explain the international regulatory responsibilities of "home" and "host"

countries 2. Evaluate the effectiveness of international bank supervision

VIII. UNIT 8: CAREERS IN BANKING Students will--

1. Identify personal skills that are important in various sectors of the financial services industry

2. Determine what personal skills, abilities, and qualifications students have to work in various financial service industry positions

3. Produce a letter that could be sent to a personnel department of a major financial institution, outlining the personal strengths that would qualify them to enter a career with that institution

IX. COURSE PROJECT: THE FED CHALLENGE

Students will— 1. Understand the Federal Reserve's role in setting U.S. monetary policy 2. Develop research, cooperation, presentation and critical-thinking skills 3. Increase economic literacy and interest in economics, not only as a subject for

undergraduate and postgraduate study, but as the basis for a career

Economics and the World of Finance Course Outline and Objectives

I. UNIT I: INTRODUCTION

A. Expectations And Outcomes 1. describe the goals or mission of the Academy of Finance 2. identify the relevance of economics to everyday life 3. plot a simple graph

B. Importance Of Economics: Part A Of A And B 1. define risk management, financial planning, service industry, securities firm, investment bank, commercial bank, thrift institution, insurance company, real estate firm, accounting firm, full-service financial firm 2. describe the functions performed by various segments of the financial services industry 3. explain why the financial services industry is important to the operation of our economy

C. Importance Of Economics:Part B Of A And B 1. explain why it is important for every high school student to study economics 2. relate current events topics to economic concepts

II. UNIT II: BASIC ECONOMIC PRINCIPLES A. Micro And Macroeconomics

1. define "microeconomics" and "macroeconomics" 2. differentiate between microeconomists' and macroeconomists' approach to the economy, and their solutions to economic problems 3. evaluate the different approaches of microeconomists and macroeconomists build an understanding of their basic approach 4. evaluate the Victor Hugo quote "Where the telescope ends, the microscope begins," modify it to make it pertinent to today's lesson

B. Scarcity 1. define scarcity, factors of production, resources, economics, management 2. explain the concept of scarcity 3. identify the factors of production: natural and cultivated resources (land), human resources (labor), capital resources (machinery/ funds), entrepreneurial ability, and management 4. analyze how scarcity creates the need for economic policy and allocation 5. analyze how choices involve costs 6. read and interpret a diagram illustrating scarcity

C. Opportunity Costs 1. define direct cost, opportunity cost, true costs, economic choice 2. explain the concept of opportunity cost 3. describe how trade-offs are made during the decision making process 4. relate the concept of opportunity cost to their own experiences 5. understand and use a matrix

D. US Economic Goals

1. define economic growth, full employment, price stability, economic freedom, economic security, equitable distribution of wealth 2. evaluate basic economic goals of the United States 3. analyze why every economic decision entails an opportunity cost 4. describe the potential conflict of differing viewpoints over competing goals and public policies

E. Positive and Normal Economics 1. compare positive economics and normative economics 2. apply positive and normative economics to a situation 3. evaluate the statement "We have arrived at a stage in economic history where we can solve all economic problems."

III. UNIT III: GOVERNMENT AND ECONOMIC SYSTEM A. Different Economic Systems

1. define command economy, market economy, communism, fascism, capitalism, democratic socialism, central planning, and decentralized planning. 2. compare the major features of each type of economic system 3. contrast the major features of each type of economic system 4. evaluate the pros and cons of each economic system

B. Economic Choices 1. understand and explain the basic economic choices societies must make 2. evaluate how to allocate scarce resources

C. The American Economy 1. define market system, invisible hand, private property, freedom of enterprise, freedom of contract, profit motive, competition, consumer sovereignty, capitalism 2. explain the basic features of the free market system, e.g., competition, private property 3. explain how self-interest can benefit society 4. demonstrate the interrelationship of building blocks in a free market system

D. Externalities 1. define key terms such as free market, laissez-faire, internal costs, external costs, negative and positive externalities 2. explain why negative externalities are frequently ignored in calculating production costs 3. evaluate the effectiveness of a laissez-faire free market to solve social problems

E. Role of Government 1. define terms associated with the role of the government in the economy, e.g., privatization, nationalization, regulation, deregulation, subsidy, managed competition 2. evaluate the pros and cons of direct government ownership, regulation and taxation as strategies for solving social problems

IV. UNIT IV: SUPPLY AND DEMAND A. The Law of Demand

1. define demand schedule, law of demand, demand curve, elasticity of demand

2. interpret a demand curve 3. distinguish between demand and a change in demand 4. determine the factors that cause demand to vary

B. Elasticity of Demand 1. define shift in demand, substitute effect, complementary products 2. graph changes in the demand for a product 3. explain the relationship between demand and income, taste, and the price of substitute products 4. differentiate between changes in quantity demanded and changes in demand

C. The Law of Supply 1. define supply schedule, law of supply, supply curve, elasticity of supply 2. interpret a supply curve 3. distinguish between supply and a change in supply 4. determine the factors that cause supply to vary

D. Determining Prices 1. define equilibrium, market price, competitive market, excess quantity 2. graph a demand and supply curve 3. explain how the equilibrium price results from the interaction of supply and demand

V. UNIT V: BUSINESS ORGANIZATIONS

A. Competition and Monopoly 1. define pure competition, oligopoly, monopoly, monopolistic competition, price leadership and price fixing 2. explain how competition takes place in various market situations 3. explain how corporations attempt to enlarge or maintain their share of the market structure

B. Forms of Business: Part A 1. define proprietorship, partnership, corporation, limited liability, unlimited liability, charter, unlimited life 2. compare the features of the single proprietorship, partnership, and corporation 3. cite the advantages and disadvantages of forming a corporation 4. explain how the corporate form of business has led to business growth and development 5. draw conclusions as to why one form of business organization may be preferable to another under certain circumstances

C. Forms of Business: Part B 1. define entrepreneur, specialization, innovation 2. evaluate the advantages and disadvantages of starting a small business 3. identify the qualities of a successful entrepreneur

D. Corporations 1. define stockholders, board of directors, corporate officers, annual meeting, proxy vote 2. explain the role of the common stockholders, the Board of Directors, and the corporate officers in managing and controlling a corporation

3. evaluate the concepts of minority control and separation of ownership and management as they influence corporate management 4. evaluate the statement, "To what extent should a corporation be guided by social responsibility rather than the profit motive?"

E. Leveraged Buyouts 1. define leveraged buyouts (LBOs), junk bonds, marauders 2. evaluate arguments for and against the practice of leveraged buyouts

F. Production and Productivity 1. define fixed cost, overhead cost, variable cost, cost per unit, economies of scale 2. explain how increased production could lower costs 3. solve problems related to cost of production

G. Business Combinations 1. define acquisition, merge, conglomerate, horizontal, combination, vertical combination, and circular combination 2. explain why businesses want to grow through corporate acquisitions 3. interpret charts illustrating different business combinations 4. evaluate the advantages and disadvantages of various types of business combinations

H. Anti-Trust Legislation 1. define monopoly, price fixing, antitrust 2. interpret cartoons suggesting alternative strategies for dealing with monopolistic practices 3. apply key provisions of the Sherman, Clayton, and Federal Trade Commission Acts to business practices 4. evaluate the pros and cons of breaking up a company

VI. UNIT VI: CAPITAL MARKETS

A. Corporation Capital Formation 1. define securities, common stock, preferred stock, bond, investment bank, underwriting, venture capital 2. explain the three methods which firms use to secure additional funds: sale of stocks, sale of bonds, bank loans 3. evaluate the three fund-raising methods from the point of view of the corporation and the investor

B. Public Capital Formation 1. define tax, excise tax, tax-exempt bond 2. explain the different methods governments use to finance capital projects 3. compare the advantages and disadvantages of these methods 4. evaluate the methods from the point of view of the government and the taxpayer

C. Public Securities Offerings 1. define prospectus, underwriter, tombstone advertisement, new issue 2. analyze the services that investment bankers and underwriters provide corporations

3. explore the impact that investment banking can have upon the growth of our economy

D. The Stock Market’s Role: Part A 1. define secondary market, liquidity 2. explain the need for a stock exchange 3. evaluate the impact of stock exchanges on the broader economy

E. The Stock Market’s Role: Part B 1. define P/E ratio, yield, net change, high and low 2. identify important financial data found in a newspaper stock table 3. interpret information relating to stocks found in the financial section of the daily newspaper 4. evaluate the importance of data related to trading in a listed NYSE stock

F. Financial Investments: Part A 1. define capital appreciation, speculator, investor 2. identify differing investment objectives 3. draw conclusions as to the general guidelines that investors follow in selecting stocks

G. Financial Investments: Part B 1. define bond rating, municipal bond, current yield 2. distinguish between stocks and bonds 3. discuss why municipal bonds are attractive to investors

H. Financial Investments: Part C 1. define terms used in connection with mutual funds such as load, no load, prospectus, growth, balanced, equity-income, diversification 2. explain the advantages of purchasing a mutual fund instead of individual stocks 3. evaluate mutual funds as an investment for a high school student

I. Securities Speculation 1. define margin, leverage, selling short, bear market, bull market, stock option, call, put, premium 2. explain how the speculator could use margin, selling short, and options to try for quick profits 3. evaluate the risks associated with margin, selling short, and options

VII. UNIT VII: MONEY AND BANKING

A. The Role of Money 1. define barter, legal tender, fiat money, token money, specie money 2. understand the functions of money: medium of exchange, standard of value, store of value 3. develop criteria for judging the features of a monetary system 4. explain the need for an effective monetary system in our modern economy 5. draw conclusions as to whether our currency meets the criteria of "good" money

B. The Role of Banks 1. define financial intermediary, F.D.I.C., Savings and Loan Association 2. describe the major functions of banks

3. explain why banks are important to the operation of our economic system 4. explain the impact of the savings and loans on our nation

C. The Federal Reserve And Monetary Policy: Part A 1. define "the Fed," central bank, Federal Reserve Note, reserve requirement, discount rate, open market woperations, monetary policy 2. explain the structure of the Federal Reserve system 3. cite the major functions of the Federal Reserve system 4. relate the major functions of the Federal Reserve system to their own lives

D. The Federal Reserve And Monetary Policy: Part B 1. define monetary policy, fiscal policy, wage price controls, supply-side economics 2. evaluate alternative approaches to controlling inflation 3. explain the trade-off that must be made in trying to control both inflation and unemployment simultaneously (the Phillips Curve)

E. Inflation Winners And Losers: Part A 1. define demand-pull, cost-push, push-pull, monetary inflation, wage-price spiral 2. analyze a cartoon illustrating the causes of inflation 3. describe the role played by various groups in creating inflation 4. distinguish between demand-pull and cost-push inflation

F. Inflation Winners And Losers: Part B 1. define purchasing power, single and double-digit inflation 2. describe the impact of inflation on various groups within our economy 3. develop a personal strategy for coping with inflation

G. Economic Indicators 1. explain how the Consumer Price Index measures the rate of inflation

VIII. UNIT VIII: THE ROLE OF GOVERNMENT

A. The Circular Flow 1. define circular flow, interdependence, product market, factors of production market 2. trace how money and resources flow through the American economic system 3. develop, discuss, and evaluate specific economic situations and their relationships to circular flow theory 4. draw and interpret an elementary flowchart

B. Business Cycle Fluctuation 1. define business cycle, prosperity, recession, depression, recovery 2. identify the characteristics of each phase of the business cycle 3. interpret a graph showing fluctuations in business activity 4. compare and contrast the major theories that economists use to explain the causes of the business cycle

C. Fiscal Policy 1. define Gross Domestic Product, economic growth, leading indicators, constant dollar 2. explain the significance of the GDP as a measure of economic growth

3. analyze factors that are studied in determining the economic health of our economy

D. Government and Taxes 1. define recession, inflation, deficit spending, budget surplus, fiscal policy, automatic stabilizer 2. explain the effects that government taxation and spending policies could have on the economy 3. explain how demand and supply side economists would practice fiscal policy

E. Money Supply 1. define monetary policy, tight money, easy money, monetarists, reserve ratio, open market operations, discount rate, federal funds rate 2. explain how tight money is used to fight inflation and how easy money is used to fight recession 3. explain how the Federal Reserve System uses its control over the reserve ratio, open market operations, and the discount rate to control the money supply and the implementation of tight and easy money policy 4. explain and evaluate the theories of the monetarist school of economics led by Milton Friedman

F. Tax Policies: Part A 1. define revenue, redistribution of income, economic stability 2. explain the purposes served by a tax system, e.g., revenue, redistribution of income, promoting and discouraging certain activities, stimulating or slowing the economy 3. explain why taxation is a complex economic and political issue

G. Tax Policies: Part B 1. define ability-to-pay theory, benefits-received theory, progressive tax, proportional tax, regressive tax, direct and indirect tax 2. design their own hypothetical tax system 3. compare Adam Smith's criteria of a good tax system with their own 4. contrast Adam Smith's criteria of a good tax system with their own

H. Tax Policies: Part C 1. define tax avoidance, tax evasion, loopholes 2. review major principles of taxation and apply them to our tax system 3. evaluate several taxes by applying the criteria of a fair tax

I. Debt and Deficit 1. define deficit spending 2. explain why governments engage in deficit spending 3. explain the potential dangers of deficit spending 4. explain the effectiveness of current United States deficit spending policy

J. Public Goods 1. compare and contrast "public goods" and "private goods" 2. evaluate the role public goods play in a free-enterprise economy 3. investigate the trends towards privatizing and/or eliminating specific public goods, and draw conclusions as to which public goods, if any, should be privatized or eliminated

4. decide whether federal, state, and local governments are providing too much in the way of public goods for its citizens

IX. UNIT IX: LABOR AND ECONOMY

A. Labor Demand and Supply 1. define wages, salaries, skilled (specialization trade), unskilled, semi-skilled, professional 2. explain how the concept of supply and demand influences a worker's pay scale 3. evaluate how non-market factors influence pay scales

B. Organization of Labor 1. explain how labor unions came into existence in the United States 2. explain why Federal laws were passed regulating labor 3. compare the tools used by labor and by management 4. decide on an acceptable work contract by negotiating between labor and management viewpoints

C. Changing American Labor Force 1. discuss some of the changes in the American labor force that are projected for the beginning of the 21st century 2. examine some of the challenges related to the projected changes in the American labor force 3. evaluate the importance of meeting the challenges created by a changing 4. analyze some of the suggestions for accommodating the changing workforce

X. UNIT X: US IN THE GLOBAL ECONOMY

A. International Trade 1. define imports, exports, global economy, specialization, international trade, absolute advantage, comparative advantage 2. explain the theories of absolute and comparative advantage 3. explain the concept of a global economy 4. describe why most economists believe that the benefits created by trade outweigh the potential disadvantages

B. Barriers to Trade 1. compare and contrast the different barriers to international trade 2. examine the arguments in favor and against the use of international trade barriers 3. take a stand as to whether the U.S. would be better off following a protectionist or free trade policy

C. Currency Fluctuations 1. explain how exchange rates influence trade among nations 2. describe how supply and demand affect currency rates

D. The Balance of Payments 1. define trade balance, balance of payments, surplus, deficit, equilibrium 2. explain the difference between balance of trade and balance of payments 3. explain the consequences of a trade surplus or deficit for the people of a country

E. Introduction to Derivatives 1. define the term "derivative" 2. give examples of derivative instruments 3. explain the role derivatives play as financial instruments and the reasons for concern about the proliferation of derivatives 4. take a stand as to whether derivatives should be viewed as a hedge against risk or a high risk investment

Financial Planning Course Outline and Objectives

I. UNIT I: GETTING STARTED

A. What is Financial Planning? 1. define financial planning. 2. define what a financial planner does. 3. assess skills and interests useful to a financial planning career

B. The Importance of Financial Planning 1. identify specific areas for which planning expertise is needed. 2. explain financial planning as a method to help people reach their goals. 3. compare financial needs of different individuals. 4. contrast financial needs of different individuals

II. UNIT II: FINANCIAL PLANNING PROCESS A. Financial Independence

1. define financial independence 2. identify common training qualifications and services offered by financial planners

B. Setting Financial Goals 1. identify goals as short-term, intermediate, and long-term. 2. describe the function of a goal as motivator. 3. compare short-term, intermediate, and long-term goals. 4. propose the consequences of failing to set and work toward goal attainment. 5. analyze results of goal-setting. 6. evaluate goals. 7. justify priorities

C. Life Stages and Financial Goals 1. explain how goals are determined by values as well as needs 2. recognize events that can alter the direction or hinder the achievement of one's goals 3. draw conclusions about the direction of change in life goals 4. evaluate criteria at different life stages that affect change in life goals

D. Client Information 1. identify records necessary to develop a financial plan 2. interpret a balance sheet 3. describe the need for complete and careful record keeping 4. create a balance sheet for a client 5. evaluate a balance sheet for a client

E. Creating a Budget 1. explain the need for a budget 2. create a budget that allows for monthly savings 3. understand the importance of creating a budget

F. Components of Financial Planning 1. identify the components of a good financial plan.

2. design a comprehensive financial plan using these components G. The Future Value of Money

1. estimate their retirement needs 2. explain the cost of credit card debt 3. understand how inflation affects the value of money

H. The Financial Planner 1. describe financial planning as a career. 2. define the academic program and work/experiences that lead to a career as a financial planner. 3. identify commercial industries where a financial planner might work. 4. evaluate financial planning as a possible career choice

I. Ethics and Financial Planning 1. Define Ethics 2. What role do ethics play in Financial Planning? 3. Develop ethical rules for doing business 4. Explain the canons and rules of the Code of Professional Ethics of the International Association for Financial Planners

III. UNIT III: SAVING AND BORROWING A. Pocket Money Millionaires

1. Learn how to read and interpret compound interest tables 2. Learn how to use compound interest tables 3. Understand the concept of time value of money 4. Explain the impact of investing early 5. Demonstrate how interest rates impact the value of an investment

B. Increasing Savings 1. Identify typical American consumer spending habits. 2. Distinguish the difference between needs and wants. 3. Define the nature of needs and wants. 4. Identify ways to increase savings/investments.

C. Financial Planning for Teens 1. define "responsible money management". 2. discuss "responsible money management". 3. determine determine true costs of ownership for various items. 4. identify strategies for managing money more responsibly

D. Saving for College 1. Identify the basic costs to attend college. 2. Explain the financial benefit of obtaining a college degree. 3. Explain the financial cost of not obtaining a college degree. 4. Identify the various financial resources available to those pursuing a college degree

E. Borrowing Money 1. Identify types and sources of loans. 2. Identify criteria to determine risks individuals pose to lenders. 3. Evaluate advantages and disadvantages of borrowing. 4. Explain what a credit report is.

5. Explain the impact a credit report has on one’s ability to borrow money F. Choosing the Right Credit Card

1. explain why credit card companies solicit your business. 2. define basic terms such as APR, grace period, and introductory rate. 3. evaluate the use of credit cards

G. Pros and Cons of Credit Cards 1. describe the correlation between risk and credit interest rates. 2. explain the risks of carrying credit card debt. 3. debate the pros and cons of owning credit cards

H. Consumer Credit Rights 1. describe Annual Percentage Rate (APR) and finance charges under "Truth in Lending" laws 2. identify examples of consumer credit legislation that protects individual consumers' rights as borrowers

I. Improving Patterns 1. describe successful saving habits 2. analyze dangers of different borrowing practices 3. differentiate between "smart" and "dumb" debt 4. draw conclusions about how to alter spending and saving habits

IV. UNIT IV: RISK MANAGEMENT A. Avoiding Risks

1. describe four risk management techniques 2. identify practical methods to avoid, reduce, and transfer risks in business and in their personal lives 3. compare personal risks and business risks 4. contrast personal risks and business risks

B. Insurance Products 1. list the insurance products used by families and individuals. 2. contrast risks faced by individuals and by families. 3. draw conclusions as to why people need different types of insurance at different points in life

C. Auto Insurance 1. explain why auto insurance rates differ among applicants of similar age 2. define risk factors used to determine rates by insurance companies 3. evaluate insurance application information from an underwriter's perspective 4. present underwriting decisions 5. make recommendations for how to reduce auto insurance premium rates

D. Property Insurance 1. differentiate between real property and personal property 2. identify perils that pose risks to real and personal property 3. describe the six basic types of homeowners insurance 4. summarize the six basic types of homeowners insurance

E. Types of Health Insurance 1. compare a variety of health insurance options. 2. contrast a variety of health insurance options.

3. identify economic incentives and disincentives used to limit use of medical services. 4. draw conclusions about how the availability of medical insurance may influence an individual's career choices

F. Obtaining Health Insurance 1. distinguish between group and individual health insurance options. 2. compare employer-provided group coverage with government provided group coverage

G. Disability Insurance 1. compare life insurance with long term disability insurance 2. evaluate advantages and disadvantages of various disability insurance plan options 3. identify important features of disability insurance coverage

H. Life Insurance 1. differentiate between term insurance and whole life insurance 2. list advantages and disadvantages of term insurance and whole life insurance

I. Risk Management Careers 1. list career opportunities in the risk management and insurance industry. 2. describe characteristics and preparatory steps necessary for different careers in the risk management and insurance industry

V. UNIT V: INVESTMENT CHOICES

A. Risk Tolerance 1. define various types of risk 2. provide examples of high-risk and low-risk investments 3. explain a strategy to determine how much risk is acceptable for different objectives

B. Traditional Bank Products 1. identify basic banking principles underlying passbook savings, checking, money market, and CD accounts. 2. list advantages and limitations of investing in bank products. 3. compare different types of accounts offered by competing banks. 4. describe the purposes of different kinds of bank accounts

C. Bonds 1. identify different types of bonds 2. calculate a bond's current yield 3. identify investors for which bonds are an appropriate investment

D. Stocks 1. explain some of the risks and benefits of owning stocks. 2. cite financial goals for which stocks are an appropriate investment. 3. use different sources for information related to stocks to evaluate different examples of stocks as investments

E. Mutual Funds 1. explain what a mutual fund is 2. locate basic information in a mutual fund prospectus 3. differentiate between load and no-load mutual funds

4. draw conclusions about how different types of mutual funds are related to different financial goals

F. High Risk Investments 1. define high-risk, or speculative, investments. 2. assess the appropriateness of high-risk investments in a portfolio. 3. identify specific examples of high-risk investments

G. Investment Strategies 1. draw conclusions about the importance of having an investment strategy 2. match investment strategies with financial goals to build an investment portfolio 3. explain and provide examples for the concept of asset allocation 4. explain and provide examples for the concept of dollar cost averaging

H. Rent vs. Own 1. explain the costs and benefits of owning a residence. 2. apply criteria to determine whether to buy or rent. 3. analyze information from the local real estate market about buying or renting a residence

I. Condos and Co-Ops 1. compare the advantages and disadvantages of condo and co-op ownership. 2. compare the cost of condo and co-op ownership to the costs of renting . 3. develop criteria for evaluating condo or co-op offerings

J. Invest at Different Stages 1. describe how a financial plan changes with different life needs. 2. explain why different investment products are appropriate for investors at different life stages. 3. interpret basic asset allocation models for investors at different life stages

VI. UNIT VI: RETIREMENT AND ESTATE PLANNING

A. Tax Advantages of Planning 1. describe strategies to reduce taxes while increasing assets 2. compare different tax reduction options 3. apply ideas of tax saving strategies to hypothetical situations

B. Why Establish an IRA 1. define an Individual Retirement Account (IRA) 2. explain the advantages and disadvantages of establishing an IRA 3. evaluate IRAs as a choice for retirement investment

C. Annuities 1. describe the two basic types of annuities 2. explain the advantages and disadvantages of annuities 3. compare and contrast IRAs and annuities 4. calculate return on investment

D. Preserving the Estate 1. compare methods of estate transfers 2. contrast methods of estate transfers 3. apply strategies that can reduce estate or inheritance taxes or other costs 4. calculate taxes imposed on estates

E. Retirement/Estate Planning 1. summarize career data. 2. describe careers in retirement and estate planning

VII. UNIT VII: WRITING A FINANCIAL PLAN

A. Evaluating Clients 1. determine financial planning recommendations based on given data 2. evaluate financial planning recommendations 3. analyze case studies

B. The Financial Plan 1. evaluate a client's financial needs based on client interviews 2. design a comprehensive financial plan

C. Career Preparation 1. identify steps in preparing for a career in financial planning 2. design a personal "road map" leading to careers in financial planning

International Finance Course Outline and Objectives

I. UNIT I: INTRODUCTION

A. Definitions 1. achieve familiarity with topics that relate to international finance 2. recognize examples of articles and subjects that relate to international finance 3. give examples of articles and subjects that relate to international finance

B. Role of International Finance 1. identify current events subjects that deal with international finance 2. give examples of how international finance relations influence their lives

II. UNIT II: INTERNATIONAL BUSINESS

A. Expansion Abroad 1. explain advantages and disadvantages of expanding business operations to foreign countries 2. propose solutions to problems actually faced by international businesses

B. Entering Foreign Markets 1. define licensing agreement, franchise agreement, management contract, turnkey operation, and equity ownership 2. explain the advantages and disadvantages of the forms of international business 3. explain why the form of business adopted should be tailored to the conditions in a specific country

C. Multinational Companies 1. define transfer pricing 2. explain arguments for and against multinational operations 3. evaluate the arguments favoring or opposing multinationals and take an individual position on the issue

D. Foreign Investment 1. explain reasons why foreign investors find the U.S. attractive 2. identify the countries with the largest direct investments in the United States 3. explain benefits that Americans derive from foreign investments

E. International Business Problems 1. explain the political, social, and economic considerations of international business operations 2. understand the importance of working within another country's cultural norms

III. UNIT III: INTERNATIONAL MONETARY SYSTEM

A. Exchange Rates 1. define foreign exchange, weak currency, strong currency 2. explain the impact of changes in exchange rates on imports and exports 3. explain why there is controversy over how strong or weak a currency should be

B. International Exchange Rates

1. define flexible, floating, fixed, managed floating, central bank intervention 2. explain how floating, managed floating, and fixed rate systems operate 3. evaluate the pros and cons of each

C. Foreign Exchange Tables 1. define U.S. dollar equivalent, foreign currency units per one U.S. dollar 2. explain exchange quotations for various currencies in terms of the decimal system 3. convert foreign currencies into dollars and dollars into foreign currencies

D. Monetary Institutions 1. define World Bank, International Development Association, hard loans, soft loans, International Monetary Fund (IMF) 2. compare and contrast the work of the World Bank and IMF 3. evaluate the work of the World Bank and IMF

E. Inflation and Exchange Rates 1. define purchasing power and exchange rates, e.g., law of one price, purchasing power parity, short and long range exchange rates 2. explain the theories of one price and purchasing power parity 3. explain how exchange rates adjust to changes in national price levels and purchasing power

F. Interest and Exchange Rates 1. define nominal interest rate, real interest rate, equilibrium, interest rate parity 2. explain interest rate parity 3. explain how interest rate parity contributes to exchange rate equilibrium

G. Government Policy/Exchange Rates 1. explain how government policy affects exchange rates 2. describe how government policy can lead to varying national rates of inflation or deflation

IV. UNIT IV: THE BALANCE OF PAYMENTS

A. International Balance of Payments 1. explain how international financial transactions are recorded 2. explain the meaning of current and capital accounts 3. explain why the balance of payments accounts are always balanced from an accounting standpoint

B. US Balance of Payments 1. take a position on whether the US has a balance of payments problem

C. The US Trade Deficit 1. explain the factors that contribute to the US trade deficit

D. Dealing with the Trade Deficit 1. explain proposals for reducing the trade deficit 2. evaluate proposals for reducing the trade deficit 3. relate proposals to possible causes of our trade deficit

V. UNIT V: INTERNATIONAL TRADE A. International Trade Benefits

1. define specialization, absolute advantage, comparative advantage

2. explain the theories of absolute and comparative advantage 3. explain why most economists believe that the benefits of international trade outweigh the potential disadvantages

B. Manufacturing Location 1. explain the Product Life Cycle and Factor Endowment or Proportions theories 2. relate these theories to the development of a hypothetical product

C. Trade Barriers I 1. define specific tariff, ad valorem tariff, export subsidy, import quota, voluntary export restraint, local content requirement 2. explain why trade barriers are costly to the American consumer

D. European Economic Community 1. identify member nations of the European Union (EU) 2. explain why the Economic Community was originally formed 3. identify the benefits of EU membership 4. evaluate which non-member countries should apply for membership 5. draw conclusions as to the impact of the EU on the U.S.

E. NAFTA 1. identify the key provisions of NAFTA 2. evaluate the pros and cons of NAFTA

F. Trade Barriers II 1. describe the economic, political, and social effects on both the nations that set them and the nations that confront trade barriers 2. draw conclusions as to who will benefit from, and who will pay for, the costs associated with trade barriers

G. Emerging Markets 1. define the term "emerging markets" and identify the ten Big Emerging Markets (BEM) 2. identify and analyze reasons why American businesses are interested in BEMs 3. identify several U.S. corporations that are "big players" in emerging markets 4. predict new economic sectors in emerging markets 5. analyze the efforts that U.S. Government agencies are making to assist American business in international commerce 6. evaluate the effects of emerging markets on jobs, careers, and employment in the United States 7. compile a list of job opportunities and career paths with U.S. corporations that are expanding to emerging markets 8. evaluate the use of the Internet as a source of up-to-date information on emerging markets

H. Career Paths 1. identify international career opportunities 2. identify fast-growing fields and occupations 3. differentiate between companies selling products overseas and companies that expedite trade 4. compare job descriptions 5. determine what skills are required for a position

VI. UNIT VI: INTERNATIONAL FINANCIAL MARKETS A. Financial Centers

1. define equity, debt, stock, bond, direct financing, indirect financing 2. explain the types of transactions associated with international financial centers

B. Globalization 1. explain reasons why P-E ratios on the Tokyo stock exchange are higher than P-E ratios on the N.Y. stock exchange 2. explain why changes in the Nikkei and the Dow Industrial averages parallel each other

C. The Eurodollar 1. explain the key features of the Eurocurrency market 2. explain why international businesses deposit surplus currency in and borrow from the Eurocurrency market

D. International Bond Market 1. define Eurobond, foreign bond, bearer bond, bond coupon, floating interest rates, LIBOR, convertible bonds, dual currency bonds 2. explain reasons why an international company might want to issue Eurobonds or foreign bonds