HONORS ECONOMICS UNIT 7
4/13 - 4/24

UNIT 7 CONTENT MAP

Unit 7 Notes

Unit 7 Review Powerpoint

AMORTIZATION

DEPENDENT

DEDUCTION

CAPITAL GAIN

PROGRESSIVE TAX
REGRESSIVE TAX
FLAT TAX

FAFSA

GROSS PAY

NET INCOME

WITHHOLDING

FICA

MEDICARE

IRS

1040

1093

1099

W2

W4

WEEK 14
4/13 - 4/17

LESSON

IN CLASS

HOMEWORK

Monday

Lesson 1

Budgeting for College

Essential Questions:

         How will you afford college next year?

Activity: 

Read: Textbook, Personal Finance handbook, appendix 44-45

Bring:  laptop, portfolio, and pencil for worksheet.

Concepts to Master:

         Income

         Expenses

         Needs

         Wants

         Budget

Tuesday

Lesson 2

Income and Expenditures

The Game of LIFE

Essential Questions:

         What can be considered personal income?

         How can personal expenses be categorized?

Activity: 

Students will play the Game of Life using the Life Short Rules and keep track of their income and expenses on the Life Spreadsheet.  This information will be used to complete their tax return at the end of the Unit. By playing the Game of Life, the students will compile the information needed to fill out a complete Form 1040.

Read: Textbook, Chapter 14, pp. 362-368

Bring:  laptop, portfolio, and pencil for worksheet.

Makeup: if you missed gameplay days, download the game here and play it on your own, keeping track of your expenses and income on the spreadsheet.

Wednesday

Lesson 3

Amortization and Personal Deductions

Essential Questions:

         What is amortization?

         What is the purpose of a federal deduction on your income taxes?

Activity: 

Students will continue to play the Game of Life using the Life Short Rules and keep track of their income and expenses on the Life Spreadsheet.  This information will be used to complete their tax return at the end of the Unit. By playing the Game of Life, the students will compile the information needed to fill out a complete Form 1040.

Read: The Apprentice Episode 3.10

Concepts to Master:

         Dependent

         Amortization

         Withholding

         FICA

Thursday

Lesson 4

http://www.crawfordsworld.com/rob/HEC/HECVIDApprentice3/apprentice3logo.jpg

Trump allowed Angie, Chris and Stephanie to steal Alex from Magna, then laid out the next task: each team will create a brand-new type of pizza for Dominos which using topping that Dominos didn't normally use, then make and sell their pizzas from a mobile kitchen. The winner will be the team with the highest sales and total revenue.

Activity: There is a lot to follow in this episode, and students should pay attention to assessing and grading the teams on the following:

  • Marketing
    • Target
    • Identify
    • Brand
    • Offer
  •  Merchandising
    • Product
    • Pricing
    • Placement
    • Packaging
  • Point of Sale/Service/Satisfaction
    • Production Quality
    • Purchase Experience
  • Leadership
    • Prioritizing
    • Delegating
    • Collaborating
Assignment:  Complete the Apprentice Assessment worksheet.

 

Answers must be In Your Own Words.

This MUST be turned in at the END of class -- any assignment turned after class will be penalized 1 point

Read: Textbook, Chapter 14, pp. 369-374

Bring Pencil for Video Quiz

*Makeup - to make the quiz up if you are excused absent the day of a video, follow these directions:

1.        Watch appropriate episode of Apprentice online here.

2.        Complete the Apprentice Assessment Worksheet in complete sentences, print out the worksheet, and hand in to Mr. Crawford in room 213.

3.        This MUST be completed before the NEXT Apprentice assignment or it will remain a 0 for assessment purposes. 

Friday

Lesson 5

Stock Market Liquidation

Essential Questions: Why is liquidity important?

Activity: 

Students will cash out of their Stock Market game portfolios, totaling the final value by calculating dividends, broker fees, and capital gains/losses.

http://www.garnetmierau.com/wp-content/uploads/2014/04/liquidity-debt-ratios.gif

Concepts to Master:

         Dividend

         Capital Gain/Loss

         Liquidity

         1099

WEEK 16
4/20 – 4/25

LESSON

IN CLASS

HOMEWORK

Monday

Lesson 6

Financial Records

Essential Questions:

         Why are personal financial records important?

Activity: 

  • Students will compile the information from their Final Stock Market Portfolio (which should have been posted on the class blackboard blog) and then fill out a Form 1099 DIV, 1040D, and 8949 on their dividends and capital gains with the teacher’s help.  This will happen in individual consultation with each student.

  • Students will go home and start to incorporate their financial information into their 1040 form.  They are free to ask for help from their parents.

Read: Textbook, Chapter 14, pp. 381-387

Concepts to Master:

         Gross Income

         Exemption

         Deduction

         Itemize

         Net Income

Tuesday

Lesson 7

Federal Income Tax

Essential Questions:

         Is the US Progressive Income Tax Efficient?

Activity: 

         Students will transfer the exemptions and deductions from their Life spreadsheet using form 1040A. They will determine whether to use the standard deduction or itemize, and then calculate their taxable income.

Student will work on their 1040 form using their Life spreadsheet with the teacher’s help.

Read: Textbook, Personal Finance handbook, appendix 46-47

Concepts to Master:

         Taxable Income

         Tax Bracket

         Tax Efficiency

         Tax Fairness

Wednesday

Lesson 8

Federal Income Tax

Essential Questions:

         Is the US Progressive Income Tax Fair?

Activity: 

Answers must be In Your Own Words.

This MUST be turned in at the END of class – this is a SUMMATIVE ASSESSMENT and any assignment turned after class will be penalized 1 point per day late.

https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcQtg23iJUlvWkEoAR3J6Re74OYl72gHT-Og4q9hVZp8erMxMsr2

Thursday

Lesson 9

Watch: The Apprentice Series 3.11

http://www.crawfordsworld.com/rob/HEC/HECVIDApprentice3/apprentice3logo.jpg

Each team will get the chance to show off their creativity by designing their own line of clothing with a budget of $5,000 to create "wearable technology" for American Eagle Outfitters. American Eagle executives will determine the winners. Alex to be Project Manager for Net Worth while Tana was the obvious choice for Magna. 

 

Activity: Students should pay particular attention to assessing and grading the teams on the following:

  • Merchandising

    • Pricing

    • Product

    • Placement

    • Packaging

  • Leadership

    • Prioritizing

    • Delegating

    • Collaborating

Assignment:  Complete the Apprentice Assessment worksheet.

 

Answers must be In Your Own Words.

This MUST be turned in at the END of class -- any assignment turned after class will be penalized 1 point

Bring Pencil for Video Quiz

*Makeup - to make the quiz up if you are excused absent the day of a video, follow these directions:

1. Watch appropriate episode of
Apprentice online here.
2. Complete the
Apprentice Assessment Worksheet in complete sentences, print out the worksheet, and hand in to Mr. Crawford in room 213.
3. This MUST be completed before the NEXT Apprentice assignment or it will remain a 0 for assessment purposes. 

Friday

Lesson 10