This sub-organizer contains the following sections:
Prescribed Learning Outcomes
Suggested Instructional Strategies
Suggested Assessment Strategies
Recommended Learning Resources

PRESCRIBED LEARNING OUTCOMES

• use basic record-keeping practices for financial management
• produce budgets to address business problems
• describe a variety of personal investment options
• explain the nature of credit and the advantages and disadvantages of obtaining credit

To view the prescribed learning outcomes for Finance in other grades click on an icon below.

SUGGESTED INSTRUCTIONAL STRATEGIES

• As a class, brainstorm and list budget items for a problem in a small business (e.g., financing a home-based business, operating a seasonal business), identifying income and expenditure amounts. Consider providing students with a budget template and data for inclusion. Have students use computers to record and graph the information. Discuss the importance of planning in business decision making.
• Ask students to role-play loan-application interviews, completing application forms (using simulated or case study information) and answering questions that address capacity, character, and collateral (the "three Cs" of credit).
• Brainstorm with students a list of personal investment options (e.g., GICs, stocks, bonds). Then have them create charts outlining the advantages and disadvantages of each in terms of return, risk, cost, convenience, benefit, and so on.
• To stimulate discussion of financial management, ethics, and the possible individual and societal consequences of borrowing, present scenarios involving specific credit applicants, such as:
  • non-income-earning spouse
  • Aboriginal person living on a reserve
  • seasonal employee
  • part-time employee
  • contract employee
  • young adult or student

  In each case, have students examine the perspectives of both lender and borrower.

• Ask students to use case studies of individuals or families to identify personal needs for financing (e.g., buying a car, going to college). Have them investigate options for obtaining personal credit, then discuss the advantages and disadvantages of each. Encourage students to consider alternatives to borrowing (e.g., savings plans, delaying purchase, amortizing expenses).

SUGGESTED ASSESSMENT STRATEGIES

• Discuss with students reasons for developing a business forecast (e.g., to identify opportunities, to secure financial assistance). Then have each student use computer technology to develop a forecast to project costs and revenue for a new business described in a case study. Note the extent to which students' projections demonstrate that they recognize and can use the information available to forecast sales, cost of products sold, gross margin, operating expenses, and profit.
• Review students' charts outlining the advantages and disadvantages of various investment options. Record evidence that students understand risk, cost, convenience, and benefit.
• Suggest that students research sources of financing for businesses. Ask them to compare the availability and costs of financing for:
  • small versus big businesses
  • new versus established businesses

  Ask students to describe the available options for (or best source of) financing for each. Note the extent to which they can identify and recount the terms and conditions associated with borrowing money, such as:

  • payment schedules (including the concepts of principal and interest)
  • the difference between equity financing and debt financing
  • types of security required by a lender

RECOMMENDED LEARNING RESOURCES

• An Introduction to the Stock Market - A Canadian Perspective
• World of Business

Video

• Credit Cards

Multimedia

• Exploring Business
• Personal Finance Portfolio

Games/Manipulatives

• The Real Game

Note: It is anticipated that existing classroom and school materials will also be used to support the prescribed learning outcomes until additional learning resources are identified.

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