Financial Literacy Institute July 2013: Day 1

1. Financial Literacy Institute July 2013: Day 1 Melissa Groves mgroves@towson.edu Debbie Batchelor dbatchelor@towson.edu

2. Our mission is to insure that Maryland's school children leave high school equipped with the economic, financial literacy and decision-making content and skills they need to make informed, rational decisions as consumers, workers, citizens, savers, investors and participants in the global economy.

3. How Does MCEE Accomplish Its Mission? Maintaining the MCEE website at www.econed.org Sponsoring signature programs Stock Market Game™ The Poster Contest Assisting with curriculum writing Providing Professional Development for educators

4. Grades1 MSDE CPD( plus 1 AU for Baltimore City Teachers) Active participation 25% In-Class Quizzes (2) 20% Online Rdgs/Assessments 25% Post-Test 20% Behavioral Survey 10%

5. Grades2 MSDE CPD( plus 1 AU for Baltimore City Teachers) Active participation 15% In-Class Quizzes (2) 20% Online Rdgs/Assessments 20% Post-Test 20% Behavioral Survey 10% Original Lesson; Field Test; Summary 15%

6. Grading Notes Original Lesson Plan (Due on/before 5:00 p.m. Oct. 25,2013) Based on a literary or informational text Aligned to one or more of Maryland’s Financial Literacy Standards ANDReading and/or Mathematics Common Core Using same format as MCEE lessons distributed throughout the Institute Field Test/Written Summary (Due on/before 5:00 p.m. Oct. 25, 2013) Teach your original lesson (as outlined above) to your students Submit a written summary that includes: student’s response to the lesson, what did/did not work, changes you would make in the future based on the success/failure of the field test

7. Grading Notes, cont Behavioral Survey Pre-Survey: Completed on Day 1 of the course Post-Survey: Completed in November You will receive notification relative to the method of taking the test, i.e. ScanTron, Survey Monkey, Online testing site, etc…. Results will remain anonymous No credits issued until the Behavioral Survey is returned in November

8. Objectives • During this presentation, we will… • explore the Maryland State Curriculum • for Personal Financial Literacy • Education • review key financial literacy • concepts for Grades K-5 • link lessons to concepts and • standards…including the Common Core

9. How the Institute Works: The Ying and Yang of It Debbie Pedagogy Melissa Content

10. Financial Literacy A variety of materials to help you

11. Why Financial Literacy? • Develops financial literacy skills that will enable students to make sound choices as consumers • Helps to establish good habits and responsible attitudes from at an early age

12. What Personal Finance is About Your source for understanding aspects of Financial Literacy

13. The Maryland State Curriculum for Personal Financial Literacy Education Defines what students should know and be able to do at various points in time Specific grade-level curriculum to be developed by the individual LEAs 3. Implemented: September 2011

14. The Standards Making informed responsible decisions Relate careers, education, and income Plan and Manage Money Managing credit and debt Creating and building wealth Managing risks and preserving wealth

15. Standard 1Make Informed, Financially Responsible Decisions Making financial choices (includes resources, decision-making process, opportunity cost) Explaining philanthropy Identifying goals Markets

16. Productive Resources NATURAL HUMANCAPITAL (Think “Product”)

17. Human Resources Workers; The health, strength, talents, education and skills that humans can use to produce goods and services.

18. Natural Resources Gifts of nature that can be used to produce goods and services

19. Capital Resources Tools; the goods that are manufactured or constructed by people and used to produce other goods and services.

20. Decision-Making Process"It's awfully awfully awful when you can't make up your mind!" Hunches in Bunches by Dr. Seuss

21. Another Option

22. And Yet Another

23. Opportunity Cost The next best choice!

24. For Decision-Making & Opportunity Cost Check Out… Lesson 4 Lesson 5

25. Philanthropy A personal interest in helping others, especially through gifts to charity Lesson 15

26. Goods Things that people make or grow that satisfy economic wants; things desired by consumers and supplied by producers.

27. Services Community jobs; Actions (jobs) that people do for each other

28. Goods & Services Lesson 2 Lesson 1

29. MarketWhere buyers and sellers exchange resources, goods, and services.

30. Mama Panya’s Pancakes:A Village Tale from Kenya Market Goods Services

31. Standard 2 HighlightsRelate Careers, Education, and Income Impact of education, interest & skills on income (What Personal Finance is About pgs.6-8) Potential sources of income How income affects spending Lesson 1

32. Isabel’s Car Wash Relationships among education, skills, economic conditions, and income Sources of income Goods Investing

33. Next Face-to-Face Session Group A August 6, 2013 8:30 a.m. – 4:30 p.m. Room 310 Group B August 7, 2013 8:30 a.m. – 4:30 p.m. Room 310

34. Melissa’s Website http://pages.towson.edu/mgroves/FinLitInstitute.html

35. Info for Online Session Go to: https://university.educatedinvestor.com/university/login.xml?for=MDFLI (Will email you the link to cut/paste onto your browser.) Username: Your email address Password: finlit

36. Online Session continued… Must complete the following modules: Getting Started with Saving and Investing Basics of Personal Finance Basics of Investing Working with Financial Advisors Due: August 5, 2013 by 5:00 p.m. Extra Credit: Complete: Investment Risks module Submit: a one page summary with a recommendation about whether it should be added to the Institute and why

37. And now… Please complete … today’s evaluation sheet. the quiz.