What,To Do Regarding Eapnomics and Managing Ohio State Dept
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DOCUMENT RJSUME ED 259 182 CE 041 904 TITLE ,What,to Do Regarding Eapnomics and Managing Resources. INSTITUTION Ohio State Dept. of Education, Columbus. Div. of Vocational Education.; Ohio State Univ., Columbus. Instructional Materials Lab. PUB DATE Aug 83 t) NOTE 350p.; For related documents, see CE 041 900-906. PUB TYPE* Guides Classroom Use Guides (For Teachers) (052) A EDRS PRIC MF01/PC14 Plus Postage. DESCRIPT S Behavioral Objectives; Citizen Participation; *Consumer Economics; *Consumer Education; *Consumer Protection; Curriculum Guides; Decision Making; Family Life Education; *Home Econqmics; *Homemaking Skills; Home Management; Learning Activities; Learning Modules; *Money Management; Secondary Education ABSTRACT These materials for the curriculum area of economics and managing resources comprise one of six such'packages that are part of the Ohio Vocational.Consumer/Homemaking Curriculum Guide. The curriculum area or perennial problem taken up in this document is ._divided into three practical problems about what to do regarding: (1) decision making; (2) resource/product management; and (3) citizen participation. These are further categorized intro seven concerns: external and personal factors affecting consumer decisions, financia1. planning, purchasing, conserving, consumer protection, and consumer responsibilities. Each concern is divided into a number of concepts * or modules. This package consists of 25 modules. Theformat for each module is as follows: code, perennial problem, practical problem, concern/concept, homemaking skills (listing of various skills needed by the homemaker as related to the ideveloped.concepts), and a chart relating process skills (steps of practical reasoning), concepts (further breakdown of the topic), And strategies (information and activities that facilitate the teaching/learning of the concepts). In some cases, specific resources are attached;otherwise, teachers may choose their own resources based upon availability and .% appropriateness to individual classrooms. (YLB) *********************************************************************** * Reproductions supplied by EDRS are the best that can be made * * from the original document. * *********************************************************************** WHAT TO 1)0 REGARDING ECONOMICS AND MANAGING RESOURCES Economics and Managing Resources ttillit111"tjIt ,,,,, (111 01,glrIpttwItt , Rp A (c, II Mil!! J'e \sz. 1 1 , I tt T 1 ot 'I 1 t xt 1 N..I } "rid NotIrt%Itirt 1Ih.. 1,1,mly U.S. DEPARTMENT Of EDUCATION NATIONAL INSTITUTE OF EDUCATION "PERMISSION TO REPRODUCE THIS E CAT IONAE RESOURCES INFORMATION MATERIAL HAS BEEN GRANTED BY ("ENTF; If RI( I MN document hes bun reproduced as received from the person or organization originating It t.l Minot changes have been mad* to improve reproduction quality _ . Coordilltltlim W.414 eifid I "trtily Points of view or opinions loafed in this docu TO THE EDUCATIONAL RESOURCES monied° not necessarily represent official NIE INFORMATION CENTER (ERIC)." posdIon.o6 icy a 4' Instructional Materials Lab Oratory 1885 Neil Avenue C Vigushend-liall, Room 112 Columbus, Ohio 43201 August, 1983 Ohio Department of Education assures equalenqiloyment and equal educational opmprtunities regardless of race, color, creed, national-origin, handicap Or sexin compliance with state directive and lede51 recommendations. Ohio Department or EducatiOn Division of Vocational Education Home Economics Section 65 South .Front Street, Room 912 Columbus, Ohio 43215 a 3 INTRODUCTION r Functioning in Vie Marketplace has become a complex process in today's economy. As consumer, producer and citizen, the individual is concerned with economic questions during virtually every hour. Understanding our economy is vital. 'Widespread economic literacy is essential if we are to maintain the viability of an economic and political system based °Individual freedom and responsibility. The curriculum addresses economic theory- macroeconomic/ microeconomic'issues and applied economics- financial planning and consumer decisions. The economic iroblems presented in the curriculunr include thqse of interest to students as adolescent consumers and those they will fare in the future as producers/ consumers/citizens. The practical reasoning approach brings an appropriate process for students to explore the many decisions to be made.Students can be encouraged to be a prosumer who asks, "What is Tst for me, my family .and society ?.' while looking at all sides of the., issue (producer, consumer, government, financial institution , foreign trade). Special acknowledgements are due to the following fdr their leadership and guidance in incorporating economic concepts: Mr. Donald G. Fell, President Ohio Council on Economic Education Ms.' Sue Saravalli, Teacher Vocational Home Economics Springfield City'Schools Dr. George M. Vredeveld, Director Greater Cincinnati Center for Economic Education HOMEMAKING SKILLS ab- . Homemaking s ills which a4 essential for performance ofthe following ho ing tasks are developed in the modules in Economics and ManAing Resources. Managing1129a - Balance checkbook - Collect inforMation about new products - Develop a budget based upon income DevOlop a savings plan , Develop and maintain an accounting and filing. system - Establish and maintain a sound insurance program - Include family members in financial decisions. - Pay bills - Prepare estate pluming information Sheet and update kt, regularly - Provide a will and update regularly - Read and interpret contracts b6fore signing - Regulate cash flow to meet payments - Seek legal advice ./ - Set goals and priorities for use of money - Shop for goods and services .- Use credit . a Providing Transportation - Budget for variable and fixed transportation costs - Check the oil in vehicle . '7. Drive a v hicle - Equip veh cle for possible emergency - Fill vehi )le with proper grade of fuel - Identify signs of vehicle malfunction - Provide for regular vehicle maintenance - Select a vehicle I - Usemass transit - Utilize carpools - Walk whenever possible Managing Time - Develop schedule of routine household tas - Keep a calendar of activities - Organize tasks to save time and energy. - Plan time alone with spouse - Plan and coordinate family activities ProviAe time for self - Set priorities for use of time 4 i4ifATTO-bb-Pi6AithiN6- 1.1 ECONOMICS AND mANKISAMI3g5 . 1:: e _j -140',1 SHOULD I66- WH4T SHOULD IITO-- SHOULI) f 06 REGARDING DECISION- REGARDING RESOURCE/ REGARDING CITIZEN or. MAKING PRODUCT MANAGEMENT PARTICIPATION E .M. 1 .0 E M 2,0 F.M 3.0 171 CERNS REGARDING *CONCERNS REARDITiG CONCERNS REGARDING rtONCERNS REGARDING CONCERNS REGARDING dA Erni 6 CalCraNnIralibriG EXTERNAL FACTORS PERSONAL FACTORS FINANCIAL PLANNING PURCWAS1NG CONSERVING CONSUMER CONSUMER AFFECTING CONSUMER AFFECTING CONSUMER PROTECTION RESPONSIBILITIES DECISIONS DECISIONS s. E,M,1,1 ' . E.M.I.2 E .M E.M,2.2 E.M 2 '3 (,M.3.1 E .M.3.2 40 1.11* 1.21 2.11* 2.2le 2.31 3.11 3.21 Economic Resources Obtaining Shoppipg Diminishing Consumer Rights Consumer Systems r/ Decisibns Resources and Astertiveness/ Obcroeconomic 1.22 2.12* _ Responsibilities Organization Issues Life Cycle Sending 2.22 2.32 Markets Product 3.12 3.22 1.12 1.23 2.13* Substitution Consumer Consumer Political Economic Borrowi4g Assistance Representation/ Systems Needs/Wants/ 2.33 Participation Values 2.14* Personal 3.13 1.13 Saving Family Resources Consumer Law Social\ .Systems 2.15 (e Investing 1.14 Ecological 2.16* Influences Protecting/ Insurance 15 Tech No l'ogi,Cai 2.17*' Influences " Taxpaying EM 1.11e PERENNIAL PROBLEM What To Do RegardingoEconomics And Managing Resources HOMEMAKING SKILLS Identify types of economi systems What Should I Do Regarding PRACTICAL PROBLEM Identify scarce resources Decision Making? Analyze opportunitycosts CONCERN/CONCEPT ExtArnal Factors Nffecting Consumer Ddt4isions/Economic SyStems Macroeconomic Issues PROCESS CONCEPTS SKILLS STRATEGIES 4 Find newspaper/magazine clippings related to economics fcit bulletin board. Discuss how these vimpact 9n people's lives. Using resources, define economics. .11 Individually write a response to the question: Should I be concerned about economics? Ask. your parents or other adults to respond ek.this question. Share with class. a Economic wants What would you like to buy that you are unable.toopurchase?Why can't you buy every- thing? Economic terms Using resources, define scarcity (total economic wants exceed available resources) and --opportunity opportunity cost (for the producer -- opportunity cost is what is given up when decisions costs are made to use a scarce productive resource to'produce particular goods and services; for the consumer-opportunity.cost is what is given up when action is taken [a purchase]). 4 Read each of the five situations. \ --You have saved $60. You would like to buy a pair of roller skates with specially , ROBLEM attached boots, but yOu also need a jacket and sweater. The $60 will only be enough to buy either the skates or the jacket and sweater. #. EM 1.11e PROCESS CONCEPTS STRATEGIES 5KILLS Economic terms; ---You are the fire chief in a small town of 20,000. There- are only enough fire --opportunity engines to fight one major fire. Unluckily, two major firOC break out at once. .costs The fire. department of the nearby town that usually helps you out is engaged (continued) in fighting a fire.. 7-You'are the manager of a supermarket. Lots of consumers are waiting td be checked through two different lines, but youhave only one packer. -rYOulhave a' busy