The Economics & Personal Finance (EPF) Course is, above all else, a Life 101 class. Economics & Personal Finance (EPF) will provide students the opportunity to engage in intensive application of the skills, concepts, processes, and knowledge gained in previous social studies courses and prepare them to be college, career, and civic ready. The EPF course supports the development of students in order to better understand economic decisions, use money wisely, understand education and career choices, and understand how to be financially responsible citizens. Students will be provided with the agency, tools, and knowledge necessary to live in and contribute to a financially sound society. The EPF course is intended to be a study of economics, personal finance, income and education, money management, critical consumerism, and financial planning. This course will also be augmented by related learning experiences, both in and out of school, that enable students to apply their knowledge and understanding of how to participate in their own financial literacy. Mastery of the standards and objectives of this course will inform and nurture responsible, participatory citizens who are competent and committed to responsible money management and financial literacy.
NC Essential Standards/Course Objectives: The standards of this course are conceptual in nature and have been organized around five strands: Economics, Income and Education, Money and Credit Management, Financial Planning, & Critical Consumerism. By the end of the course, students should be able to:
- Understand economies, markets, and the role economic factors play in making economic decisions.
- Analyze the role of government and economic institutions in developing and implementing economic stabilization policies in the U.S.
- Understand the role of government in a market economy.
- Understand factors of economic interdependence and their impact on nations.
- Analyze the relationship between education, income, career, and desired lifestyle.
- Understand the purpose and function of taxes and the impact on income.
- Understand money management skills and strategies.
- Understand the purposes and services of financial institutions.
- Understand the concepts and factors that enable individuals to make informed financial decisions for effective resource planning and money management.
- Understand the value and planning processes associated with saving and investing.
- Understand factors associated with consumer decision making.
- Understand the rights and responsibilities of buyers and sellers under consumer protection laws.
NC Essential Standards for EPF can be found HERE.