# CTE Resource Center - Verso - Economics and Personal Finance Task 1446130012

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Demonstrate knowledge of the nation’s financial system.

Definition

Demonstration should include
  • defining the role of money
  • explaining that financial markets bring people together who have money to lend and are willing to take risks to earn a return with people who want to borrow for a specific purpose
  • explaining that financial institutions act as intermediaries by facilitating the interaction of borrowers and savers in financial markets.

Related Standards of Learning

English

10.3

The student will apply knowledge of word origins, derivations, and figurative language to extend vocabulary development in authentic texts.
  1. Use structural analysis of roots, affixes, synonyms, and antonyms, to understand complex words.
  2. Use context, structure, and connotations to determine meanings of words and phrases.
  3. Discriminate between connotative and denotative meanings and interpret the connotation.
  4. Explain the meaning of common idioms.
  5. Explain the meaning of literary and classical allusions and figurative language in text.
  6. Extend general and cross-curricular vocabulary through speaking, listening, reading, and writing.

10.5

The student will read, interpret, analyze, and evaluate nonfiction texts.
  1. Analyze text features and organizational patterns to evaluate the meaning of texts.
  2. Recognize an author’s intended audience and purpose for writing.
  3. Skim materials to develop an overview and locate information.
  4. Compare and contrast informational texts for intent and content.
  5. Interpret and use data and information in maps, charts, graphs, timelines, tables, and diagrams.
  6. Draw conclusions and make inferences on explicit and implied information using textual support as evidence.
  7. Analyze and synthesize information in order to solve problems, answer questions, and generate new knowledge.
  8. Analyze ideas within and between selections providing textual evidence.
  9. Summarize, paraphrase, and synthesize ideas, while maintaining meaning and a logical sequence of events, within and between texts.
  10. Use reading strategies throughout the reading process to monitor comprehension.

11.3

The student will apply knowledge of word origins, derivations, and figurative language to extend vocabulary development in authentic texts.
  1. Use structural analysis of roots, affixes, synonyms, and antonyms to understand complex words.
  2. Use context, structure, and connotations to determine meanings of words and phrases.
  3. Discriminate between connotative and denotative meanings and interpret the connotation.
  4. Explain the meaning of common idioms.
  5. Explain the meaning of literary and classical allusions and figurative language in text.
  6. Extend general and cross-curricular vocabulary through speaking, listening, reading, and writing.

11.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts including employment documents and technical writing.
  1. Apply information from texts to clarify understanding of concepts.
  2. Read and correctly interpret an application for employment, workplace documents, or an application for college admission.
  3. Analyze technical writing for clarity.
  4. Paraphrase and synthesize ideas within and between texts.
  5. Draw conclusions and make inferences on explicit and implied information using textual support.
  6. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  7. Analyze false premises, claims, counterclaims, and other evidence in persuasive writing.
  8. Recognize and analyze use of ambiguity, contradiction, paradox, irony, sarcasm, overstatement, and understatement in text.
  9. Generate and respond logically to literal, inferential, evaluative, synthesizing, and critical thinking questions about the text(s).

12.3

The student will apply knowledge of word origins, derivations, and figurative language to extend vocabulary development in authentic texts.
  1. Use structural analysis of roots, affixes, synonyms, and antonyms, to understand complex words.
  2. Use context, structure, and connotations to determine meanings of words and phrases.
  3. Discriminate between connotative and denotative meanings and interpret the connotation.
  4. Explain the meaning of common idioms, and literary and classical allusions in text.
  5. Extend general and cross-curricular vocabulary through speaking, listening, reading, and writing.

12.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts.
  1. Use critical thinking to generate and respond logically to literal, inferential, and evaluative questions about the text(s).
  2. Identify and synthesize resources to make decisions, complete tasks, and solve specific problems.
  3. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  4. Recognize and analyze use of ambiguity, contradiction, paradox, irony, overstatement, and understatement in text.
  5. Analyze false premises claims, counterclaims, and other evidence in persuasive writing.

History and Social Science

GOVT.1

The student will demonstrate skills for historical thinking, geographical analysis, economic decision making, and responsible citizenship by

  1. planning inquiries by synthesizing information from diverse primary and secondary sources;
  2. analyzing how political and economic trends influence public policy, using demographic information and other data sources;
  3. comparing and contrasting historical, cultural, economic, and political perspectives;
  4. evaluating critically the quality, accuracy, and validity of information to determine misconceptions, fact and opinion, and bias;
  5. constructing informed, analytic arguments using evidence from multiple sources to introduce and support substantive and significant claims;
  6. explaining how cause-and-effect relationships impact political and economic events;
  7. taking knowledgeable, constructive action, individually and collaboratively, to address school, community, local, state, national, and global issues;
  8. using a decision-making model to analyze the costs and benefits of a specific choice, considering incentives and possible consequences;
  9. applying civic virtues and democratic principles to make collaborative decisions; and
  10. communicating conclusions orally and in writing to a wide range of audiences, using evidence from multiple sources and citing specific sources.

Other Related Standards

Economics and Personal Finance Standards of Learning

EPF.6

The student will demonstrate knowledge of the nation’s financial system by
  1. defining the role of money; and
  2. explaining the role of financial markets and financial institutions.

EPF.12

The student will demonstrate knowledge of banking transactions by
  1. comparing the types of financial institutions;
  2. examining how financial institutions affect personal financial planning;
  3. evaluating services and related costs associated with personal banking;
  4. differentiating among types of electronic monetary transactions;
  5. preparing all forms necessary for opening and maintaining a checking and a savings account;
  6. reconciling bank statements;
  7. comparing costs and benefits of online and traditional banking; and
  8. explaining how certain historical events have influenced the banking system and other financial institutions.

FBLA Competitive Events and Activities Areas

Accounting I

 

Accounting II

 

Banking and Financial Systems

 

Business Financial Plan

 

Economics

 

Entrepreneurship

The topic for this event changes from year to year. The annual topic may or may not correlate with this particular course. Please refer to the current Virginia FBLA State Handbook.

Introduction to Business

 

Personal Finance