Lesson Plan Map by NBEA Standard

Our full list of lesson plans categorized by NBEA standard.

Accounting

I. The Accounting Profession

Accounting Ethics

This lesson is designed to get students thinking about the concept of business ethics, specifically in regards to accounting. Three Knowledge@Wharton articles that are appropriate for high school students have been selected to support the lesson. By working in small groups and presenting information out to the larger group, students are exposed to some of the ethical challenges that have faced the accounting industry in the U.S.

Accounting Jeopardy

Standards: Understand the role that accountants play in business and society. Describe career opportunities in the accounting profession. Demonstrate the skills and competencies required to be successful in the accounting profession and/or in an accounting-related career. Develop an understanding and working knowledge of an annual report and financial statements; complete the steps in the accounting […]

What Does an Accountant Do?

In this lesson, students will be exposed to different accountants and learn about what being an accountant means.

II. Financial Reports

Accounting and the Basics of Financial Reporting

In this lesson of the unit, students will learn about the different components of a financial report and four different types of financial reports: balance sheets, income statements, statements of retained earnings and statements of cash flow.

Accounting Jeopardy

Standards: Understand the role that accountants play in business and society. Describe career opportunities in the accounting profession. Demonstrate the skills and competencies required to be successful in the accounting profession and/or in an accounting-related career. Develop an understanding and working knowledge of an annual report and financial statements; complete the steps in the accounting […]

Balance Sheet

This lesson focuses primarily on the balance sheet. Students will learn the definition of a balance sheet (and its component parts). Students will learn to read and decode an actual balance sheet from a 10-K filing. Finally, students will use balance sheets to reason about the well being of individual companies.

Starting a Business: Basic Accounting – Income Statement and Balance Sheet

In this lesson, students are introduced to the basic accounting procedures and financial statements — income statements and balance sheets. The class starts with a brief discussion of the types of things a business owner might want keep track of in terms of accounting and measuring the well-being of a company. The class splits into two groups, one covering each of the financial statements. Each group learns about its respective statement, creates a fictitious business along with a sample of the statement, and prepares a presentation on the financial statement and its application for the rest of the class.

The Company Income Statement

This lesson delves into financial documents. In particular, the lesson focuses on the income statement. Students will learn the definition of an income statement (and its component parts). Students will learn to read and decode an actual income statement from a 10-K filing. Finally, students will use income statements to reason about the well being of individual companies.

III. Financial Analysis

Balance Sheet

This lesson focuses primarily on the balance sheet. Students will learn the definition of a balance sheet (and its component parts). Students will learn to read and decode an actual balance sheet from a 10-K filing. Finally, students will use balance sheets to reason about the well being of individual companies.

The Company Income Statement

This lesson delves into financial documents. In particular, the lesson focuses on the income statement. Students will learn the definition of an income statement (and its component parts). Students will learn to read and decode an actual income statement from a 10-K filing. Finally, students will use income statements to reason about the well being of individual companies.

IV. Accounting Applications

Accounting Applications

Students will learn about the accounting applications and apply the terms.

V. Accounting Process

Accounting Jeopardy

Standards: Understand the role that accountants play in business and society. Describe career opportunities in the accounting profession. Demonstrate the skills and competencies required to be successful in the accounting profession and/or in an accounting-related career. Develop an understanding and working knowledge of an annual report and financial statements; complete the steps in the accounting […]

Hitting Homeruns and Bringing in Revenue

This accounting lesson introduces ideas about fixed costs versus variable costs. The Knowledge@Wharton High School article, “Baseball’s Bottom Line: The Money Behind the Game” sets the stage for an introductory business lesson about revenue.

Pay Day – Personal Accounting

In this first lesson, students will learn about personal accounting, specifically using and balancing a checkbook.

Show Me the Money – Game (Pay Day — Personal Accounting Lesson 2)

In this second lesson, students will practice what they learned about recording journal entries for personal accounting by playing a game.

Storybook Accounting – Reading a Story

In this lesson, students will learn about the accounting process through story telling.

The Cost of a Cupcake

The lesson introduces ideas about accounting and finance associated with developing a new business. The article, “Red Velvet Revolution: The Rise of the Cupcake Entrepreneur,” and the accompanying video on the Knowledge@Wharton High School website set the stage for an initial business or math class lesson about fixed and variable costs associated with the development of a new business and an introduction into basic accounting. Students will use the resources to launch into a discussion and brainstorming session about the initial steps for designing the financial plan for a new business and variables that must be considered. Students will begin researching different costs and learn about basic accounting using Excel.

VI. Interpretation and Use of Data

Accounting Jeopardy

Standards: Understand the role that accountants play in business and society. Describe career opportunities in the accounting profession. Demonstrate the skills and competencies required to be successful in the accounting profession and/or in an accounting-related career. Develop an understanding and working knowledge of an annual report and financial statements; complete the steps in the accounting […]

Balance Sheet

This lesson focuses primarily on the balance sheet. Students will learn the definition of a balance sheet (and its component parts). Students will learn to read and decode an actual balance sheet from a 10-K filing. Finally, students will use balance sheets to reason about the well being of individual companies.

Present Value

Students are introduced to the idea of discounted cash flow (DCF) and learn about how it plays out in real businesses.

The Company Income Statement

This lesson delves into financial documents. In particular, the lesson focuses on the income statement. Students will learn the definition of an income statement (and its component parts). Students will learn to read and decode an actual income statement from a 10-K filing. Finally, students will use income statements to reason about the well being of individual companies.

VII. Compliance

Accounting Ethics

This lesson is designed to get students thinking about the concept of business ethics, specifically in regards to accounting. Three Knowledge@Wharton articles that are appropriate for high school students have been selected to support the lesson. By working in small groups and presenting information out to the larger group, students are exposed to some of the ethical challenges that have faced the accounting industry in the U.S.

Income Tax — Compliance

In this lesson, students will learn about income tax and what goes into it.

Career Development

I. Self-Awareness

Career Assessment and Self Development

Students will identify general career interests and work together to brainstorm characteristics essential for their hypothetical professions. Students will consider how their own strengths match the skills necessary for their career interests and work in pairs to develop strategies to build on their assets and address any weaknesses.

Goal Setting

Students will read an article about goal setting and consider how it relates to their own lives. Students will identify risks of excessive goal setting and they will brainstorm characteristics of positive goals. Students will reflect on their own goals and whether they are practical/healthy to pursue.

How to Lead from Within

In this lesson students will learn how to lead from within by learning to manage both their egos and their emotions. They will begin by brainstorming a list of famous people and CEOs who are known to be hard to work with. Then, they will listen to a Knowledge@ Wharton podcast. After that, they will write their own responses to a list of quotes that were mentioned in the podcast and the class will discuss their responses and what it means to lead from within. Finally, to get students in touch with their own egos and emotions, they will each make a list of their personal strengths and weaknesses and choose one from each category to share with the class. This is done to get students comfortable with recognizing what they may be good at and also what improvements they still need to make.

Jobs Teens Can Get Now

Every teen needs money, and therefore every teen needs a job. Finding a job can be a challenge. This lesson will give you guidance in finding and keeping that great job

Managing Oneself

Students will read and analyze an article about qualities of good leaders. Students will come up with their own list of leadership qualities and explain why they chose those qualities.

Personal Brands, Part 1

Students will reflect on their own strengths and achievements while participating in interviews with partners. Students will use the information gleaned from these interviews to create “movie posters,” which they will use to introduce their partners to the class. While this lesson can be used on its own, it is also the first lesson in a series designed to help students think about their personal “brands” as they begin a process of career development.

Personal Brands, Part 2

Students will consider the terms “Brand,” “Branding,” “Brand Strategy,” and “Brand Equity” in the context of individuals and think about how/why celebrities, entrepreneurs and everyday job-seekers create “personal brand images.” Students will read different articles about personal brands and work in groups to share their findings.

Personal Brands, Part 3: The “Elevator Pitch”

Drawing on their reflections from the previous two lessons, students will work to create individual 60-second elevator pitches, a concise statement of their goals and qualifications. Students will share their pitches with one another and offer constructive criticism.

You Are Your Brand

This lesson will teach students about the concept of a personal brand, as well as encourage them to develop their own. Students will begin by reading an article to spark discussion about how they develop their personal brands and how it affects their leadership styles. Then they will think about and develop their own personal leadership style by writing about what they would like someone to say in a speech if they were to give them a lifetime achievement award for excellence in leadership. Students will ultimately understand their current personal brand, as well as how they would like it to develop as they grow and mature.

II. Career Research

Budgeting Basics

Students will practice making personal budgets for life after college. Students will work in pairs to construct a budget based on certain parameters and their own values/choices. Students will compare budgets and consider what expenses they may have over/underestimated in their own plans. Students will also discuss the value of savings and pitfalls of debt.

Exploring Future Career Opportunities

JUMP$TART NATIONAL STANDARD: Employment and Income, Standard 1 CEE NATIONAL STANDARD: Earning Income, Standards 1 and 4 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will explore future career opportunities. ESTIMATED TIME: 100 minutes MATERIALS NEEDED: Each student needs a computer with Internet access; Career Exploration Activity Guide (Included); Projector; Why Go to College? Handout WHY […]

Job Offers

Students will draw upon the previous two lessons to discuss financial considerations in choosing a job. Students will also consider additional factors, such as signing bonuses and whether the job is part of a growth or obsolete industry. Working in groups, students will pick a job offer from three (fictional) choices and explain their selection to the rest of the class.

Navigating the Land of Lost Income: Understanding Your Paycheck

Students will learn how to read a paycheck, focusing on what is deducted and why. They will work in groups to create visual representations of paycheck earnings and deductions, which they will present to the class. Students will begin to think about where their paycheck deductions go and what these deductions mean to them as individual wage-earners and as members of society.

Team 401(k) versus Team Pension: Understanding Retirement Options

Students will compare and contrast 401(k)s and defined contribution (pension) plans, highlighting the potential advantages and disadvantages of each. Students will read a Knowledge@Wharton article for relevant information about retirement savings and share their findings with the class in the form of a debate. At the end of the lesson, students will consider which type of plan they think makes the most sense.

III. Workplace Expectations

FaceSpace Project Lesson 1: Introduction to Social Networks

This is the first lesson in a series about workplace expectations. As such, this lesson addresses some broad concepts about the workplace. Subsequent lessons will provide more specific suggestions about topics such as workplace norms, etiquette and dress codes. In this lesson, students will discuss the terms “social capital” and “social networks” and consider how these concepts apply to their own lives. After reading the Knowledge@Wharton article, “Connecting the Corporate Dots: Social Networks Reveal How Employees and Companies Operate,” students will consider the role of social capital and networks in the workplace. Finally, this lesson will introduce students to the “FaceSpace” project, which they will work on throughout this module.

FaceSpace Project Lesson 2: Workplace Etiquette

This is the second lesson in a series about workplace expectations. Students will read the Knowledge@Wharton article on appropriate workplace attire and discuss the key points. They will go over additional workplace guidelines, and then act out a variety of scenarios, relating to etiquette dilemmas in the workplace. For the remainder of class, students will begin working on their FaceSpace projects.

FaceSpace Project Lesson 3: Social Network Etiquette

This is the third lesson in a series about workplace expectations. Students have already received their assignment to create a “FaceSpace” page. They will discuss issues related to online etiquette and incorporate those ideas into their FaceSpace creation.

FaceSpace Project Lesson 4: (More) Social Network and Workplace Etiquette

This is the fourth lesson in a series about workplace expectations. Students have already received their assignment to create a “FaceSpace” page. They will use the first half of class to read and discuss an article relating to job etiquette, and spend the remainder of class working on their FaceSpace projects.

FaceSpace Project Lesson 5: Final Presentations

This is the final lesson in a series about workplace expectations. At this point, students should have integrated what they have learned throughout this module into their FaceSpace posters. Students will have time to put the finishing touches on their work, and then they will share their projects with each other.

IV. Career Strategy

Comparing Job Offers: Should I Stay or Should I Go?

In this lesson, students will analyze and evaluate a variety of factors that are often used to compare job offers, including the cost-of-living index.

Exploring Future Career Opportunities

JUMP$TART NATIONAL STANDARD: Employment and Income, Standard 1 CEE NATIONAL STANDARD: Earning Income, Standards 1 and 4 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will explore future career opportunities. ESTIMATED TIME: 100 minutes MATERIALS NEEDED: Each student needs a computer with Internet access; Career Exploration Activity Guide (Included); Projector; Why Go to College? Handout WHY […]

Jobs Teens Can Get Now

Every teen needs money, and therefore every teen needs a job. Finding a job can be a challenge. This lesson will give you guidance in finding and keeping that great job

Personal Statements, Part 1: Brainstorming Ideas

This is the first lesson in a series about writing personal statements. During this lesson, students will think about their plans for the future and begin crafting personal statements that outline their goals and qualifications. They will read and discuss articles that offer career-planning advice, and work with peers to begin thinking about their future plans.

Personal Statements, Part 2: Outlines

This is the second lesson in a series about writing personal statements. During this lesson, students will think about their plans for the future and begin crafting personal statements that outline their goals and qualifications. They will continue to work on it for the rest of the module.

Personal Statements, Part 3: Rough Drafts

This is the third lesson in a series about writing personal statements, during which students will think about their plans for the future and begin crafting personal statements that outline their goals and qualifications. In this lesson, students will finish outlining their personal statements and begin writing rough drafts.

Personal Statements, Part 4: Peer Editing and Revisions

This is the fourth lesson in a series about writing personal statements, during which students will think about their plans for the future and begin crafting personal statements that outline their goals and qualifications. In this lesson, students will finish their rough drafts and trade papers for peer editing.

V. School-to-Career Transition

Job Interviews, Part 1

Students have finished working on résumés and cover letters and will begin thinking about the next stage of the job application process: interviews. Students will review interview tips and read a Knowledge@Wharton article about “emotional affect,” to consider the impact their attitudes can have on an interview. Finally, students will work in teams to brainstorm interview questions to ask one another.

Job Interviews, Part 2

Students will continue building interviewing skills. They will review interview tips and help develop a rubric with which to rate interviews.

Job Interviews, Part 3

In this culminating lesson, students will participate in mock interviews. Partners will provide feedback, using a rubric and evaluation form, and offer suggestions for improvement. Volunteers will “perform” their interviews for the class.

Jobs Teens Can Get Now

Every teen needs money, and therefore every teen needs a job. Finding a job can be a challenge. This lesson will give you guidance in finding and keeping that great job

Writing Cover Letters, Part 1

Students will read and analyze a Knowledge@Wharton article about the value of story telling as an introduction to the role that cover letters can play in their job application packet — i.e., cover letters provide an opportunity to share stories about particularly relevant qualifications and interests. Students will learn about the different sections of a cover letter and review samples of strong cover letters.

Writing Cover Letters, Part 2

Students will read and analyze a Knowledge@Wharton article about the importance of telling the truth on one’s résumé/cover letter. Students will continue to read/evaluate sample cover letters and begin to consider how they will construct their own cover letters.

Writing Cover Letters, Part 3

Students will read and analyze a Knowledge@Wharton article about the challenges and benefits of hiring Millennials. Students will choose from sample job postings and practice writing their own cover letters, which they will share with their peers for review.

Writing Résumés

Students will read and analyze a Knowledge@Wharton article about teen employment and discuss the challenges of finding work as students. Students will consider how resumes are helpful in the job-search process and learn about the key elements to include in a resume. The students will have an opportunity to begin brainstorming ideas for their own resumes at the end of class.

Writing Resumes, Part 2

Students will read and analyze a Knowledge@Wharton High School article about summer employment and discuss the value of gaining work experience while still in high school. Students will continue to learn about resumes; in this lesson, instruction will focus on style and formatting. The students will have an opportunity to critique/revise a sample resume, as they prepare to write their own resumes in the next lesson.

Writing Résumés, Part 3

Students will read and analyze a Knowledge@Wharton article about job seeking during a recession and consider both the challenges and opportunities involved. Students will apply what they’ve learned about résumés in previous lessons to writing their own. Students will draft rough copies of their résumés and trade with a peer for feedback.

VI. Lifelong Learning

College Comparisons, Part 1

Students will read an article about how college rankings are formulated and consider what role college rank will play in their own decision-making processes. Students will research public and private universities and colleges and make comparisons.

College Comparisons, Part 2

Students will read an article about factors to consider when choosing a college. Students will share their research on public and private universities and colleges and make comparisons.

Lifelong Learning – College: Pros/Cons

Students will read an article about a high school student who decides not to go to college and evaluate his decision. Students will start thinking about the pros/cons and opportunity costs of attending college and reflect on the current state of their college plans.

Communication

I. Foundations of Communication

Leadership in a Decentralized Company

Students will begin this lesson by discussing the term decentralization. Then they will watch Johnson & Johnson CEO William Weldon talk about the benefits and downsides to leadership in a decentralized corporate environment. Next, they will look at the struggles of one famous brand, Disney, as the company works to bring its famous theme parks to China. After that, students will develop their own leadership strategies to operate in a decentralized corporate environment so that their products benefit local consumers.

Tapping into the Art of Possibility

Students will begin this lesson by watching a video or listening to audio of an orchestra performance. Then they will be asked to describe the leadership style that is employed by conductors of symphony orchestras. Next they will listen to a podcast about how one conductor chose to do things differently and got rid of the top-down traditional leadership style that is usually employed by music conductors in favor of encouraging his music students to choose the art of possibility. Students will write responses to questions that will display their comprehension of the podcast and discuss Benjamin Zander’s concept of the art of possibility. Finally, students will develop their own mission and vision statements that incorporate the decision to choose possibility as a staple of leadership.

You Are Your Brand

This lesson will teach students about the concept of a personal brand, as well as encourage them to develop their own. Students will begin by reading an article to spark discussion about how they develop their personal brands and how it affects their leadership styles. Then they will think about and develop their own personal leadership style by writing about what they would like someone to say in a speech if they were to give them a lifetime achievement award for excellence in leadership. Students will ultimately understand their current personal brand, as well as how they would like it to develop as they grow and mature.

II. Societal Communication

How Cultural Factors Affect Leadership

Students will begin this lesson by reading the article, “How Cultural Factors Affect Leadership.” They will discuss key differences in leadership traits among different countries as well as which traits are universally accepted. Next they will get a lesson in cultural sensitivity by learning and practicing the basic phrases and/or gestures to greet someone, say goodbye, exchange a business card and other important cultural differences to note when doing business in another country.

III. Workplace Communication

Collective Interest in Teams

This lesson on communication and teamwork introduces students to the 33 Chilean miners who were trapped in an underground shelter for weeks. They will read about how they survived and what strategies they used to work as a team to survive in these hazardous conditions.

Communication Styles

In this lesson, students learn a great deal about communication styles and then analyze one another’s style to understand what their preferred styles are. They should also think about the Platinum Rule that says the speaker should treat others however the other person would like to be treated and not how the speaker prefers it. By understanding that everyone has different communication styles, students will have greater awareness for differences and how to accommodate others’ communication styles. This is fundamental to developing successful emotional intelligence — understanding the thoughts, views and feelings of others.

Cultivating Total Leadership

Students will begin this lesson by reading the article, “Cultivating Total Leadership with Authenticity, Integrity and Creativity,” from the Knowledge@Wharton website. Then they will discuss the distinct challenges of a new business environment and the creative solutions companies are using to solve them. Next students will get an inside look at how one company, Google, cultivates total leadership. Students will then work in groups to develop a business office space that incorporates total leadership to meet global leadership challenges and keeps in mind global leadership concepts.

How to Lead from Within

In this lesson students will learn how to lead from within by learning to manage both their egos and their emotions. They will begin by brainstorming a list of famous people and CEOs who are known to be hard to work with. Then, they will listen to a Knowledge@ Wharton podcast. After that, they will write their own responses to a list of quotes that were mentioned in the podcast and the class will discuss their responses and what it means to lead from within. Finally, to get students in touch with their own egos and emotions, they will each make a list of their personal strengths and weaknesses and choose one from each category to share with the class. This is done to get students comfortable with recognizing what they may be good at and also what improvements they still need to make.

Individual Decisions and Collective Success

This lesson encourages students to think about how decisions are made in teams when individuals choose to break away. In the article highlighted in the lesson plan, an individual breaks off from the team due to health concerns. It is very common for members to leave a team midway through. Students think through the difficulty of balancing individuals’ decisions and a team’s collective objective.

Leadership Is Not in a Vacuum

In this lesson, students think about how groups like trauma units have dynamic team leadership cultures. They will think about how these organizations incorporate new people, bring them up to speed quickly, and at the same time, maintain reliability and never commit an error. In this lesson, they will read about this kind of culture and analyze how this could work for their own organizations/clubs. They will think about how to imagine leadership and team organization as a system and not as a hierarchy.

Letting Go of Ego

In this lesson, students will act out different ways of letting go of ego and having more open communication with bosses/team leaders. They will read a Knowledge@Wharton article about this and role-play different situations where they have to ask for a new project, a raise, a higher position, etc.

Non-Profit Organization and Motivation

In this lesson, students will learn how to motivate team members when working on not-for-profit projects. The motivations that drive employees in for-profit companies can be very different than in non-profits. They will read a short article on this and then work in groups to brainstorm strategies to motivate their team and others. They will also role-play situations to motivate less eager team members.

Servant Leadership

Students will begin this lesson with a conversation about their experiences with various types of customer service. Then they will dissect how employees are portrayed in a Southwest Airlines commercial. After that, students will watch a video interview with the CEO of Southwest Airlines, Colleen Barrett, as she discusses her leadership philosophy of “servant leadership.” Students will then discuss the concept of servant leadership and go over the servant leadership pyramid. Once students understand this unique personal leadership style, they will use it to solve a management problem in a service-related business.

Teamwork and Communication

In this high-energy lesson, students will be split up into different kinds of teams where they have to stay on their toes and react to unexpected situations. After a few rounds of playing, the students should have a class discussion about team dynamics, different leadership roles and how a team’s communication style in a high-pressure situation may be very different from one moment to the next.

The Six Traits of Excellent Leaders

Students will begin this lesson by becoming familiar with two companies and their leadership philosophies. Then they will read the article, “HP and Patagonia: Two Similar, Yet Different, Leadership Styles” and take note of the six traits mentioned. After a brief discussion of each trait, students will work in groups to create skits that display leaders who have each trait and leaders who do not.

Working on Team Tasks

In this lesson, students will learn how to identify team tasks. They will read about team tasks from a Knowledge@Wharton article. After that, they will play a few games to see how to identify team tasks and what characteristics identify these tasks from other kinds of tasks.

Computation

I. Mathematical Foundations

Break Even

In this lesson, students are introduced to the idea of break even, revenues and expenses (both fixed and variable). The lesson begins with a whole group discussion of these topics, applied to different business scenarios. In small groups, students work through calculating break-even points for businesses with fixed expenses only. Finally, students report their findings and prepare for the subsequent lesson that extends beyond a simple fixed expense model to incorporate variable expenses as well.

Commodities

This lesson begins with a discussion of commodities and the concepts of hedging and future contracts. Students think about the reasons that companies might hedge for commodity prices or why they might not. Students read relevant excerpts form Knowledge@Wharton and Knowledge@Wharton High School articles and compute the potential savings and losses as a result of hedging for commodity prices. Finally, students discuss the implications of commodity trading and hedging.

Credit Card Loans

This is a two-part/two-day lesson. Each lesson should take approximately 40-45 minutes. This lesson begins with students discussing the concept of loans, and then specifically of credit card loans and their functions for borrowers and lenders. Students compute the first year of making the minimum payment on a credit card balance of $1,000 and answer questions about the process. Finally, students discuss and reflect on credit card loans in general and other alternatives.

Inflation

In this lesson, students learn about the concept of inflation — its meaning, causes and implications, as well as the strategies for mitigating negative outcomes. Students read the KWHS article “Inflation: What It Is, Where It Comes From and How It Can Bite You” to frame the issue and to get a better sense of how inflation affects youth. In groups, students then complete a series of computation problems as they examine changes in the Consumer Price Index (CPI) over the last five years. Finally, in groups, students take a deeper look at three of the causes of inflation described in the article and prepare mini-presentations to the class, focusing on explanations, examples, effects and responses to these various causes.

Investing in Stocks

In this lesson, students are introduced to the concept of investments in stocks through dividends. Students discuss meanings of key terms and review what they have learned about simple and compound interest rates. In small groups, students compute different yield savings accounts using simple and compounded interest and compare that to expected yields from owning stocks that pay dividends. Students then calculate the return on investments. The lesson concludes with a discussion about what factors individual investors may take into account when deciding which types of investments to make.

Loan Project II – A Look at India

In this lesson, students apply what they have learned about mortgage loans, personal loans and payday loans to examine different loan situations in India. Students start by reading articles about lending and interest rates in India. They then calculate interest and payments of mortgage and personal loans in India using interest rates provided.

Micro Insurance

This lesson begins with a discussion of insurance, and specifically micro insurance and its function. Students learn the meaning of several key vocabulary terms having to do with insurance in general and read a Knowledge@Wharton article about micro insurance. Students complete several computation problems involving a micro insurance policy breaking even, and think about the relationship between the premium, the payout, the number of policyholders and the likelihood of an event/disaster taking place.

Microfinance

This lesson begins with an orientation to the idea of finance and financial services, lending/borrowing money and credit and pushes students to think about the types of services available to people in the developing world. The ideas of microfinance, microcredit and microloans are introduced and students think about the roles they play. Students then either read a Knowledge@Wharton High School article and/or watch an interview about microfinance (depending on time), and discuss in pairs the financial costs to lending money. The class reviews these financial costs as a group, focusing on the need of a lender to break even, and students then work in small groups to solve computation problems focused on breaking even with microfinance loans. Finally, the class discusses the role of microfinance, the reality of high interest rates and student interest in investing in microfinance.

Personal Loans

This lesson begins with students discussing the concept of loans, and then specifically payday loans. Students compute different loan scenarios and critically analyze the fees and APR structures of payday loans. Finally, students discuss and reflect on payday loans in general and compare to other personal loans.

Pricing

In this lesson, students read a Knowledge@Wharton article that describes different types of pricing. Students break up into small groups and make short presentations on the different strategies. In small groups, students compute prices for hypothetical companies based upon different strategies. Finally, students revisit the concept of pricing in general as they reflect on their computations.

Profit and Loss

This lessons starts with a brief overview of the concept of break even, revenues and expenses. (If you have completed the previous lessons in this module, you can skip this intro or review quickly.) Students are asked to think about the break-even point and what is happening with a company’s finances on other sides of this point. The class discusses what it means to make a profit and the meaning of a loss. Students read relevant Knowledge@Wharton articles to answer questions and complete computations about particular profit and loss situations. Finally, students discuss these implications.

Retirement Planning

This lesson begins with a discussion about saving and investing for retirement and why it is important. Students read a relevant Knowledge@Wharton article and learn about the different types of retirement accounts – IRAs, 401Ks and Social Security. They calculate different scenarios for contributing to different retirement accounts.

Saving Money with Simple and Compound Interest

This lesson begins with a brief class discussion about saving money. Students are introduced to the concept of interest and different types of interest. In small groups, students will compare simple interest and compound interest through computations. The lesson closes with a class discussion about compound interest and when and where it is used.

Starting a Business: Advertising a Business

In this lesson, students are introduced to basic concepts of advertising as part of an overall marketing strategy. Students learn several key terms, such as click-through rate, conversion rate, ROI and advertising metrics. The lesson focuses mainly on Internet advertising, as these strategies are much easier to measure and track. In the computation section, students are given sample advertising prices along with conversion rates and asked to make calculations based on different statistical scenarios.

Starting a Business: Assessing the Market — Research and Opportunities

In this lesson, students think about market research and market opportunities when starting a business. The class begins with a discussion of the factors that a business might want to consider about a population or region when thinking about starting a business. Students read two articles (one Knowledge@Wharton and one Knowledge@Wharton High School) that discuss market opportunities and market research. As the main activity, the teacher should choose between two options (or do both, if time allows). In the first, students examine population statistic and census demographic information on different communities and locations to assess what type of business(es) would be successful given the demographics. In the second option, students conduct market research in their own classroom to assess the market opportunity for a given product or business.

Starting a Business: Basic Accounting – Income Statement and Balance Sheet

In this lesson, students are introduced to the basic accounting procedures and financial statements — income statements and balance sheets. The class starts with a brief discussion of the types of things a business owner might want keep track of in terms of accounting and measuring the well-being of a company. The class splits into two groups, one covering each of the financial statements. Each group learns about its respective statement, creates a fictitious business along with a sample of the statement, and prepares a presentation on the financial statement and its application for the rest of the class.

Starting a Business: Project

In this lesson, students demonstrate an understanding of the topics learned earlier in this unit (market research, high margin vs. high volume business, advertising and basic accounting and financial statements) and apply this knowledge to developing a basic business plan. The class begins with a brief discussion and review, and then students read a short Knowledge@Wharton High School article, “Spanish Internet VIP Yago Arbeloa: ‘It Is Important to Take Advantage of the Moment’,” answering guided reading questions. The majority of the class period is spent working on business plans that incorporate the ideas of the week. Finally, student groups present their business plans, focusing on the key elements from this unit.

Student Loans

This is a two-part/two-day lesson. Each lesson should take approximately 40-45 minutes. The first lesson begins with students discussing the concept of loans, and then specifically of student loans. Students compute different loan scenarios. Finally, students discuss and reflect on student loans in general.

II. Number Relationships and Operations

Break Even

In this lesson, students are introduced to the idea of break even, revenues and expenses (both fixed and variable). The lesson begins with a whole group discussion of these topics, applied to different business scenarios. In small groups, students work through calculating break-even points for businesses with fixed expenses only. Finally, students report their findings and prepare for the subsequent lesson that extends beyond a simple fixed expense model to incorporate variable expenses as well.

Commodities

This lesson begins with a discussion of commodities and the concepts of hedging and future contracts. Students think about the reasons that companies might hedge for commodity prices or why they might not. Students read relevant excerpts form Knowledge@Wharton and Knowledge@Wharton High School articles and compute the potential savings and losses as a result of hedging for commodity prices. Finally, students discuss the implications of commodity trading and hedging.

Credit Card Loans

This is a two-part/two-day lesson. Each lesson should take approximately 40-45 minutes. This lesson begins with students discussing the concept of loans, and then specifically of credit card loans and their functions for borrowers and lenders. Students compute the first year of making the minimum payment on a credit card balance of $1,000 and answer questions about the process. Finally, students discuss and reflect on credit card loans in general and other alternatives.

How Much Do People Pay for Car Insurance?

In this lesson, students read the Knowledge@Wharton High School article, “Driver Alert: Car Insurance Will Cost You,” and look at data from the Insurance Information Institute (III) about national insurance rates. Students learn about the components and types of car insurance (i.e. liability, comprehensive and collision). They are asked to interpret and analyze car insurance by state and represent data through bar graphs and box plots. If computers with Excel are available, students learn to make bar graphs and sort data in Excel.

Inflation

In this lesson, students learn about the concept of inflation — its meaning, causes and implications, as well as the strategies for mitigating negative outcomes. Students read the KWHS article “Inflation: What It Is, Where It Comes From and How It Can Bite You” to frame the issue and to get a better sense of how inflation affects youth. In groups, students then complete a series of computation problems as they examine changes in the Consumer Price Index (CPI) over the last five years. Finally, in groups, students take a deeper look at three of the causes of inflation described in the article and prepare mini-presentations to the class, focusing on explanations, examples, effects and responses to these various causes.

Investing in Stocks

In this lesson, students are introduced to the concept of investments in stocks through dividends. Students discuss meanings of key terms and review what they have learned about simple and compound interest rates. In small groups, students compute different yield savings accounts using simple and compounded interest and compare that to expected yields from owning stocks that pay dividends. Students then calculate the return on investments. The lesson concludes with a discussion about what factors individual investors may take into account when deciding which types of investments to make.

Loan Project II – A Look at India

In this lesson, students apply what they have learned about mortgage loans, personal loans and payday loans to examine different loan situations in India. Students start by reading articles about lending and interest rates in India. They then calculate interest and payments of mortgage and personal loans in India using interest rates provided.

Micro Insurance

This lesson begins with a discussion of insurance, and specifically micro insurance and its function. Students learn the meaning of several key vocabulary terms having to do with insurance in general and read a Knowledge@Wharton article about micro insurance. Students complete several computation problems involving a micro insurance policy breaking even, and think about the relationship between the premium, the payout, the number of policyholders and the likelihood of an event/disaster taking place.

Microfinance

This lesson begins with an orientation to the idea of finance and financial services, lending/borrowing money and credit and pushes students to think about the types of services available to people in the developing world. The ideas of microfinance, microcredit and microloans are introduced and students think about the roles they play. Students then either read a Knowledge@Wharton High School article and/or watch an interview about microfinance (depending on time), and discuss in pairs the financial costs to lending money. The class reviews these financial costs as a group, focusing on the need of a lender to break even, and students then work in small groups to solve computation problems focused on breaking even with microfinance loans. Finally, the class discusses the role of microfinance, the reality of high interest rates and student interest in investing in microfinance.

Personal Loans

This lesson begins with students discussing the concept of loans, and then specifically payday loans. Students compute different loan scenarios and critically analyze the fees and APR structures of payday loans. Finally, students discuss and reflect on payday loans in general and compare to other personal loans.

Pricing

In this lesson, students read a Knowledge@Wharton article that describes different types of pricing. Students break up into small groups and make short presentations on the different strategies. In small groups, students compute prices for hypothetical companies based upon different strategies. Finally, students revisit the concept of pricing in general as they reflect on their computations.

Profit and Loss

This lessons starts with a brief overview of the concept of break even, revenues and expenses. (If you have completed the previous lessons in this module, you can skip this intro or review quickly.) Students are asked to think about the break-even point and what is happening with a company’s finances on other sides of this point. The class discusses what it means to make a profit and the meaning of a loss. Students read relevant Knowledge@Wharton articles to answer questions and complete computations about particular profit and loss situations. Finally, students discuss these implications.

Retirement Planning

This lesson begins with a discussion about saving and investing for retirement and why it is important. Students read a relevant Knowledge@Wharton article and learn about the different types of retirement accounts – IRAs, 401Ks and Social Security. They calculate different scenarios for contributing to different retirement accounts.

Saving Money with Simple and Compound Interest

This lesson begins with a brief class discussion about saving money. Students are introduced to the concept of interest and different types of interest. In small groups, students will compare simple interest and compound interest through computations. The lesson closes with a class discussion about compound interest and when and where it is used.

Starting a Business: Advertising a Business

In this lesson, students are introduced to basic concepts of advertising as part of an overall marketing strategy. Students learn several key terms, such as click-through rate, conversion rate, ROI and advertising metrics. The lesson focuses mainly on Internet advertising, as these strategies are much easier to measure and track. In the computation section, students are given sample advertising prices along with conversion rates and asked to make calculations based on different statistical scenarios.

Starting a Business: Assessing the Market — Research and Opportunities

In this lesson, students think about market research and market opportunities when starting a business. The class begins with a discussion of the factors that a business might want to consider about a population or region when thinking about starting a business. Students read two articles (one Knowledge@Wharton and one Knowledge@Wharton High School) that discuss market opportunities and market research. As the main activity, the teacher should choose between two options (or do both, if time allows). In the first, students examine population statistic and census demographic information on different communities and locations to assess what type of business(es) would be successful given the demographics. In the second option, students conduct market research in their own classroom to assess the market opportunity for a given product or business.

Starting a Business: Basic Accounting – Income Statement and Balance Sheet

In this lesson, students are introduced to the basic accounting procedures and financial statements — income statements and balance sheets. The class starts with a brief discussion of the types of things a business owner might want keep track of in terms of accounting and measuring the well-being of a company. The class splits into two groups, one covering each of the financial statements. Each group learns about its respective statement, creates a fictitious business along with a sample of the statement, and prepares a presentation on the financial statement and its application for the rest of the class.

Starting a Business: Project

In this lesson, students demonstrate an understanding of the topics learned earlier in this unit (market research, high margin vs. high volume business, advertising and basic accounting and financial statements) and apply this knowledge to developing a basic business plan. The class begins with a brief discussion and review, and then students read a short Knowledge@Wharton High School article, “Spanish Internet VIP Yago Arbeloa: ‘It Is Important to Take Advantage of the Moment’,” answering guided reading questions. The majority of the class period is spent working on business plans that incorporate the ideas of the week. Finally, student groups present their business plans, focusing on the key elements from this unit.

Student Loans

This is a two-part/two-day lesson. Each lesson should take approximately 40-45 minutes. The first lesson begins with students discussing the concept of loans, and then specifically of student loans. Students compute different loan scenarios. Finally, students discuss and reflect on student loans in general.

What Affects Auto Insurance Costs? Understanding the Data

In this lesson, students read the Knowledge@Wharton High School article, “Driver Alert: Car Insurance Will Cost You,” and look at data that compares average annual insurance expenditures, number of traffic fatalities, deaths per 100 million vehicle miles traveled, percentages of population living in urban areas, per capita incomes by state and state population. Students will use Microsoft Excel to examine statistics by state and produce scatter plots to investigate the relationship between several factors and the average annual auto insurance expenditure per state. Additionally, students sort these data to better understand statistical factors that affect auto insurance expenditures. *Note: This activity requires students to use computers with Microsoft Excel. If computers are not available for individual students, the teacher can project this on the overhead.

III. Patterns, Functions, and Algebra

Break Even

In this lesson, students are introduced to the idea of break even, revenues and expenses (both fixed and variable). The lesson begins with a whole group discussion of these topics, applied to different business scenarios. In small groups, students work through calculating break-even points for businesses with fixed expenses only. Finally, students report their findings and prepare for the subsequent lesson that extends beyond a simple fixed expense model to incorporate variable expenses as well.

Commodities

This lesson begins with a discussion of commodities and the concepts of hedging and future contracts. Students think about the reasons that companies might hedge for commodity prices or why they might not. Students read relevant excerpts form Knowledge@Wharton and Knowledge@Wharton High School articles and compute the potential savings and losses as a result of hedging for commodity prices. Finally, students discuss the implications of commodity trading and hedging.

Credit Card Loans

This is a two-part/two-day lesson. Each lesson should take approximately 40-45 minutes. This lesson begins with students discussing the concept of loans, and then specifically of credit card loans and their functions for borrowers and lenders. Students compute the first year of making the minimum payment on a credit card balance of $1,000 and answer questions about the process. Finally, students discuss and reflect on credit card loans in general and other alternatives.

How Much Do People Pay for Car Insurance?

In this lesson, students read the Knowledge@Wharton High School article, “Driver Alert: Car Insurance Will Cost You,” and look at data from the Insurance Information Institute (III) about national insurance rates. Students learn about the components and types of car insurance (i.e. liability, comprehensive and collision). They are asked to interpret and analyze car insurance by state and represent data through bar graphs and box plots. If computers with Excel are available, students learn to make bar graphs and sort data in Excel.

Investing in Stocks

In this lesson, students are introduced to the concept of investments in stocks through dividends. Students discuss meanings of key terms and review what they have learned about simple and compound interest rates. In small groups, students compute different yield savings accounts using simple and compounded interest and compare that to expected yields from owning stocks that pay dividends. Students then calculate the return on investments. The lesson concludes with a discussion about what factors individual investors may take into account when deciding which types of investments to make.

Loan Project II – A Look at India

In this lesson, students apply what they have learned about mortgage loans, personal loans and payday loans to examine different loan situations in India. Students start by reading articles about lending and interest rates in India. They then calculate interest and payments of mortgage and personal loans in India using interest rates provided.

Micro Insurance

This lesson begins with a discussion of insurance, and specifically micro insurance and its function. Students learn the meaning of several key vocabulary terms having to do with insurance in general and read a Knowledge@Wharton article about micro insurance. Students complete several computation problems involving a micro insurance policy breaking even, and think about the relationship between the premium, the payout, the number of policyholders and the likelihood of an event/disaster taking place.

Personal Loans

This lesson begins with students discussing the concept of loans, and then specifically payday loans. Students compute different loan scenarios and critically analyze the fees and APR structures of payday loans. Finally, students discuss and reflect on payday loans in general and compare to other personal loans.

Pricing

In this lesson, students read a Knowledge@Wharton article that describes different types of pricing. Students break up into small groups and make short presentations on the different strategies. In small groups, students compute prices for hypothetical companies based upon different strategies. Finally, students revisit the concept of pricing in general as they reflect on their computations.

Profit and Loss

This lessons starts with a brief overview of the concept of break even, revenues and expenses. (If you have completed the previous lessons in this module, you can skip this intro or review quickly.) Students are asked to think about the break-even point and what is happening with a company’s finances on other sides of this point. The class discusses what it means to make a profit and the meaning of a loss. Students read relevant Knowledge@Wharton articles to answer questions and complete computations about particular profit and loss situations. Finally, students discuss these implications.

Retirement Planning

This lesson begins with a discussion about saving and investing for retirement and why it is important. Students read a relevant Knowledge@Wharton article and learn about the different types of retirement accounts – IRAs, 401Ks and Social Security. They calculate different scenarios for contributing to different retirement accounts.

Saving Money with Simple and Compound Interest

This lesson begins with a brief class discussion about saving money. Students are introduced to the concept of interest and different types of interest. In small groups, students will compare simple interest and compound interest through computations. The lesson closes with a class discussion about compound interest and when and where it is used.

Student Loans

This is a two-part/two-day lesson. Each lesson should take approximately 40-45 minutes. The first lesson begins with students discussing the concept of loans, and then specifically of student loans. Students compute different loan scenarios. Finally, students discuss and reflect on student loans in general.

IV. Measurements

Loan Project II – A Look at India

In this lesson, students apply what they have learned about mortgage loans, personal loans and payday loans to examine different loan situations in India. Students start by reading articles about lending and interest rates in India. They then calculate interest and payments of mortgage and personal loans in India using interest rates provided.

V. Statistics and Probability

How Much Do People Pay for Car Insurance?

In this lesson, students read the Knowledge@Wharton High School article, “Driver Alert: Car Insurance Will Cost You,” and look at data from the Insurance Information Institute (III) about national insurance rates. Students learn about the components and types of car insurance (i.e. liability, comprehensive and collision). They are asked to interpret and analyze car insurance by state and represent data through bar graphs and box plots. If computers with Excel are available, students learn to make bar graphs and sort data in Excel.

Inflation

In this lesson, students learn about the concept of inflation — its meaning, causes and implications, as well as the strategies for mitigating negative outcomes. Students read the KWHS article “Inflation: What It Is, Where It Comes From and How It Can Bite You” to frame the issue and to get a better sense of how inflation affects youth. In groups, students then complete a series of computation problems as they examine changes in the Consumer Price Index (CPI) over the last five years. Finally, in groups, students take a deeper look at three of the causes of inflation described in the article and prepare mini-presentations to the class, focusing on explanations, examples, effects and responses to these various causes.

Starting a Business: Advertising a Business

In this lesson, students are introduced to basic concepts of advertising as part of an overall marketing strategy. Students learn several key terms, such as click-through rate, conversion rate, ROI and advertising metrics. The lesson focuses mainly on Internet advertising, as these strategies are much easier to measure and track. In the computation section, students are given sample advertising prices along with conversion rates and asked to make calculations based on different statistical scenarios.

Starting a Business: Assessing the Market — Research and Opportunities

In this lesson, students think about market research and market opportunities when starting a business. The class begins with a discussion of the factors that a business might want to consider about a population or region when thinking about starting a business. Students read two articles (one Knowledge@Wharton and one Knowledge@Wharton High School) that discuss market opportunities and market research. As the main activity, the teacher should choose between two options (or do both, if time allows). In the first, students examine population statistic and census demographic information on different communities and locations to assess what type of business(es) would be successful given the demographics. In the second option, students conduct market research in their own classroom to assess the market opportunity for a given product or business.

Starting a Business: Project

In this lesson, students demonstrate an understanding of the topics learned earlier in this unit (market research, high margin vs. high volume business, advertising and basic accounting and financial statements) and apply this knowledge to developing a basic business plan. The class begins with a brief discussion and review, and then students read a short Knowledge@Wharton High School article, “Spanish Internet VIP Yago Arbeloa: ‘It Is Important to Take Advantage of the Moment’,” answering guided reading questions. The majority of the class period is spent working on business plans that incorporate the ideas of the week. Finally, student groups present their business plans, focusing on the key elements from this unit.

What Affects Auto Insurance Costs? Understanding the Data

In this lesson, students read the Knowledge@Wharton High School article, “Driver Alert: Car Insurance Will Cost You,” and look at data that compares average annual insurance expenditures, number of traffic fatalities, deaths per 100 million vehicle miles traveled, percentages of population living in urban areas, per capita incomes by state and state population. Students will use Microsoft Excel to examine statistics by state and produce scatter plots to investigate the relationship between several factors and the average annual auto insurance expenditure per state. Additionally, students sort these data to better understand statistical factors that affect auto insurance expenditures. *Note: This activity requires students to use computers with Microsoft Excel. If computers are not available for individual students, the teacher can project this on the overhead.

VI. Problem-Solving Applications

Commodities

This lesson begins with a discussion of commodities and the concepts of hedging and future contracts. Students think about the reasons that companies might hedge for commodity prices or why they might not. Students read relevant excerpts form Knowledge@Wharton and Knowledge@Wharton High School articles and compute the potential savings and losses as a result of hedging for commodity prices. Finally, students discuss the implications of commodity trading and hedging.

Credit Card Loans

This is a two-part/two-day lesson. Each lesson should take approximately 40-45 minutes. This lesson begins with students discussing the concept of loans, and then specifically of credit card loans and their functions for borrowers and lenders. Students compute the first year of making the minimum payment on a credit card balance of $1,000 and answer questions about the process. Finally, students discuss and reflect on credit card loans in general and other alternatives.

Investing in Stocks

In this lesson, students are introduced to the concept of investments in stocks through dividends. Students discuss meanings of key terms and review what they have learned about simple and compound interest rates. In small groups, students compute different yield savings accounts using simple and compounded interest and compare that to expected yields from owning stocks that pay dividends. Students then calculate the return on investments. The lesson concludes with a discussion about what factors individual investors may take into account when deciding which types of investments to make.

Loan Project II – A Look at India

In this lesson, students apply what they have learned about mortgage loans, personal loans and payday loans to examine different loan situations in India. Students start by reading articles about lending and interest rates in India. They then calculate interest and payments of mortgage and personal loans in India using interest rates provided.

Micro Insurance

This lesson begins with a discussion of insurance, and specifically micro insurance and its function. Students learn the meaning of several key vocabulary terms having to do with insurance in general and read a Knowledge@Wharton article about micro insurance. Students complete several computation problems involving a micro insurance policy breaking even, and think about the relationship between the premium, the payout, the number of policyholders and the likelihood of an event/disaster taking place.

Personal Loans

This lesson begins with students discussing the concept of loans, and then specifically payday loans. Students compute different loan scenarios and critically analyze the fees and APR structures of payday loans. Finally, students discuss and reflect on payday loans in general and compare to other personal loans.

Pricing

In this lesson, students read a Knowledge@Wharton article that describes different types of pricing. Students break up into small groups and make short presentations on the different strategies. In small groups, students compute prices for hypothetical companies based upon different strategies. Finally, students revisit the concept of pricing in general as they reflect on their computations.

Retirement Planning

This lesson begins with a discussion about saving and investing for retirement and why it is important. Students read a relevant Knowledge@Wharton article and learn about the different types of retirement accounts – IRAs, 401Ks and Social Security. They calculate different scenarios for contributing to different retirement accounts.

Saving Money with Simple and Compound Interest

This lesson begins with a brief class discussion about saving money. Students are introduced to the concept of interest and different types of interest. In small groups, students will compare simple interest and compound interest through computations. The lesson closes with a class discussion about compound interest and when and where it is used.

Starting a Business: Advertising a Business

In this lesson, students are introduced to basic concepts of advertising as part of an overall marketing strategy. Students learn several key terms, such as click-through rate, conversion rate, ROI and advertising metrics. The lesson focuses mainly on Internet advertising, as these strategies are much easier to measure and track. In the computation section, students are given sample advertising prices along with conversion rates and asked to make calculations based on different statistical scenarios.

Starting a Business: Project

In this lesson, students demonstrate an understanding of the topics learned earlier in this unit (market research, high margin vs. high volume business, advertising and basic accounting and financial statements) and apply this knowledge to developing a basic business plan. The class begins with a brief discussion and review, and then students read a short Knowledge@Wharton High School article, “Spanish Internet VIP Yago Arbeloa: ‘It Is Important to Take Advantage of the Moment’,” answering guided reading questions. The majority of the class period is spent working on business plans that incorporate the ideas of the week. Finally, student groups present their business plans, focusing on the key elements from this unit.

Student Loans

This is a two-part/two-day lesson. Each lesson should take approximately 40-45 minutes. The first lesson begins with students discussing the concept of loans, and then specifically of student loans. Students compute different loan scenarios. Finally, students discuss and reflect on student loans in general.

Economics

I. Allocation of Resources

Alternative Choices — Understanding Opportunity Costs

This lesson introduces students to the concept of opportunity costs. Using the Knowledge@Wharton High School article “How Much Did You Spend on Prom?” students will think about the value of mutually exclusive decisions. Students will examine their own utility as it relates to prom expenditures, listing the costs and benefits of multiple decisions.

At The Margins: What Is Something Worth to You?

In this lesson, we will introduce students to several fundamental concepts, including: utility, choice, marginal cost and marginal benefit. Using the article “Christopher Bolden-Newsome: The Fight for Food Justice,” we will look at how economists understand individual choices. In particular, students will think about costs and benefits from the perspective of a local farmer’s market.

Balancing Acts — Finding Equilibrium Price

This lesson uses students’ knowledge of supply and demand curves to explain equilibrium prices. Using the Knowledge@Wharton High School article “How Much Did You Spend on Prom?,” students will consider what happens when markets face excess supply and excess demand. In particular, students will take on the role of small business, calculating earnings and losses at different prices.

Bringing It All Together — Supply and Demand Game

In this lesson, students will reason about complex supply and demand relationships by playing an economics game. This game combines previous lessons on the laws of supply and demand, shifts in supply and demand, equilibrium prices and elasticity. Students will take on one of many supply-chain roles (e.g. factory, wholesale, distributor, retailer), and make concrete choices about inventory and sales. The lesson provides students with personal experience from which to compare formal economic theory.

Bringing It All Together: Using the concepts of scarcity, utility, opportunity costs and risk to manage a car dealership

In this lesson, students will demonstrate their knowledge of scarcity, utility, opportunity costs and risk, by taking on the role of manager at a fictional car dealership. After reading the article “The Hard Sell: How to Market Products That Are No Longer Popular,” students will be given a specific dealership scenario. Based on their unique scenario, students will think about potential customers, their preferences and the risks of conducting business.

Deconstructing Supply–What Makes a Supply Curve?

In this lesson, we will look in depth at the supply curve. In particular, students will look at the role of marginal cost in creating a demand curve, and the inputs that create a marginal cost curve. Students will use the article “Career Insider: Fashion Buyers Play by the Numbers” to think about the supply curve for a fashion designer, or other clothing business.

Dis(Equilibrium) — Who Sets Prices Anyway?

This lesson uses students’ knowledge of supply and demand curves to explain equilibrium prices. Using the article “How About Free? The Price Point that Is Turning Industries on Their Heads,” students will consider what happens to markets when there is excess supply and excess demand. This lesson will also introduce students to the concepts of a price ceiling and a price floor.

Division of Labor–Taking Advantage of Efficiency

In this lesson we will look at the concept of division of labor. Through a short in-class activity, students will demonstrate the value and efficiency of specialization. Next, students will think about division of labor when it comes to group work, thinking about their own strengths and weaknesses, and how best to use those skills in a group setting. Finally, using the article “A Piece of Cake? Hardly, but Autumn Bayles Helped Herself, and Others, Rise to the Top,” students will think about how the division of labor encourages trade within the market.

Elasticity — How Much Are You Willing to Pay?

In this lesson, we look at the concept of price elasticity by introducing students to complementary and substitute goods. Using the article “McCormick’s Alan D. Wilson on Pricing, Innovation and the ‘Romance of Spice,’” students will generate lists of products with multiple substitutes and products with no substitute. Based on these examples, students will think about how the presence of substitute goods affects supply and demand decisions. Finally, building on student work, the teacher will introduce the terms inelastic and elastic to describe different types of supply and demand curves.

From Many, One — Developing Aggregate Supply and Demand

This lesson is an introduction to the laws of supply and demand. In this lesson, students will examine how the macro-level economy emerges from individual preferences and choices. Using the article “John Brock of Coca-Cola: Staying Strong in the Competitive Beverage Industry,” students think about supply and demand from the perspective of a large beverage supplier, like Coca-Cola.

Gaming the System — Playing with Supply and Demand

In this lesson, students will reason about supply and demand relationships by playing an economic game inspired by Cyril Morong. This game combines previous lessons on: the laws of supply and demand, shifts in supply and demand, equilibrium prices, and elasticity. In the game, students will work as buyers and sellers to maximize their individual profits. Based on the aggregate of individual decisions, the class will create its own supply and demand curves.

Limited Resources — Thinking about Choice and Scarcity

This lesson provides a brief introduction to formal economic theory. Using the article “How the U.S. Government Has Mismanaged the Country,” students will think about limited resources from the perspective of a national government. Students will make choices about welfare programs, national defense and consumer spending. Throughout the lesson, students will think about economics as the study of choice under scarcity.

Multiple Choice — What Is My Best Alternative?

In this lesson, we will introduce students to the concept of opportunity costs. Using the article “Red Velvet Revolution: The Rise of the Cupcake Entrepreneur,” students will expand on their understanding of scarcity, looking at the value of mutually exclusive choices from a business perspective. In particular, students will think about opportunity costs from the customers’ perspective. Students will take on the role of business managers, thinking carefully about their target customers and those customers’ alternative choices.

Opportunity Costs: What is My Best Alternative?

In this lesson, we will introduce students to the concept of opportunity costs. Using the article “Olivia Mitchell on Why Young Consumers Should Just Say No to Spending,” students will compare the value of mutually exclusive choices. In particular, students will look at the relationship between post-secondary education and income in order to understand the true cost of career choices.

Push and Pull — Shifts in Supply & Demand

In this lesson, we look at shifts in the aggregate supply and demand curves. Using the article “After Reading Fast Food Nation, You May Want to Hold the Fries,” students will look specifically at the fast food industry, examining how and why supply and demand will shift at a given price.

Risks and Rewards: Dealing with Uncertainty

In this lesson, we will add the concept of uncertainty to our previous discussions of utility and opportunity costs. Using the article “Driver Alert: Car Insurance Will Cost You,” students will look at how economists model risk. In particular, students will consider risk by taking on the role of a small business owner, cataloguing potential business risks and enumerating ways to manage those risks.

Risky Business — Dealing with Uncertainty

This lesson introduces students to the concept of uncertainty and risk. Using the article “What can Risk Management Do for You, Me and Argentina?” students will think about managing uncertainty in the decision-making process. In particular, students will think about their own risk-taking behavior as it applies to a simple game of chance.

Rubber Bands–Price Elasticity 101

In this lesson, we look at the economics concept of price elasticity by introducing students to complementary and substitute goods. Using the Knowledge@Wharton article “The Crowded, Caffeinated Soft Drink Sector: Who Will Bubble Up to the Top?” students will think about substitutes and complements from a business perspective. Finally, building on student work, the teacher will introduce the terms inelastic and elastic to describe different types of supply and demand curves.

Selling School — Putting It All Together

In this lesson, students will demonstrate their knowledge of scarcity, utility, and opportunity costs by thinking about the cost of college enrollment. Students will look at real data on educational attainment and income in order to calculate the opportunity cost of attending a four-year college.

Shifts — What Can Change Supply & Demand?

In this lesson, we look at shifts in the aggregate supply and demand curves. Using the article “After Reading Fast Food Nation, You May Want to Hold the Fries,” students will look specifically at the fast food industry, brainstorming how supply and demand might shift at a given price.

Sunk Costs

In this lesson, we will look at the concept of sunk costs. In particular, students will compare “rational” economic decision-making to “irrational” commitment to inefficient outcomes. Using the article “Strong Leaders Encourage Dissent, and Gain Commitment,” students will take time to reflect on their own experiences with sunk costs. Finally, students will look at several economic rationalizations, classifying each as “economically rational” or not.

The Laws of Supply and Demand

This lesson is an introduction to the laws of supply and demand. In this lesson, students will build on basic knowledge of supply and demand by carefully considering the difference between individual and aggregate economic choices. Using the article “McCormick’s Alan D. Wilson on Pricing, Innovation and the ‘Romance of Spice’” students will look at how the larger economy develops from individual actors’ rational economic choices. This lesson will also briefly preview concepts of equilibrium and elasticity (which are both covered in-depth later in this unit).

Understanding Scarcity: An Introduction to Supply and Demand

This lesson is an introduction to formal Economic theory. In this lesson, students will be introduced to the concepts of supply, demand and scarcity. Using the article “Falling Behind: Working Women in Germany Grapple with Limited Child-Care Options,” students will think about the relationship between scarce resources and individual decision making. As part of this lesson, students will be introduced to supply and demand curves.

Understanding Utility: How Do We Allocate Resources?

In this lesson, we will introduce students to the concept of utility. Using the article “Baseball’s Bottom Line: The Money Behind the Game,” we will look at how economists quantify choice. In particular, students will think abstractly about measuring satisfaction, preferences, and choice.

Unlimited Preferences — Defining and Measuring Utility

This lesson introduces students to the concept of utility and marginal utility. Using the article “Behind the Scenes at Urban Outfitters” students will think about the relationship between price and utility. Students will examine their own utility as it relates to clothing and apparel, noting the difference between total utility and marginal utility.

What Is Economics? A Lesson on Choice and Scarcity

This lesson provides a brief introduction to formal economic theory. Using the article “Red Velvet Revolution: The Rise of the Cupcake Entrepreneur,” students will role play as small business owners in charge of a cupcake store. Students will make choices about location, inventory, equipment and sales. Throughout the lesson, students will think about economics as the study of choice under scarcity.

What to Expect–Decision-making and Expected Value

This lesson extends the concepts of opportunity cost and risk by introducing students to expected value. Using the article “Using Scenario Planning as a Weapon Against Uncertainty?” students will think about managing uncertainty in the decision-making process. In particular, students will think about strategic “scenario planning,” and weighing the value of multiple outcomes.

II. Economic Systems

Competition 101 — Perfect Competition, Oligopoly and Monopolies

In this lesson, students will compare and contrast perfect competition with monopolies and oligopolies. Students will work in groups to find examples of each type of market. Next, students will read “Microsoft Vs. the Feds: Drawing the Battle Lines,” to see examples of monopolies in practice. Finally, students will do a short activity that helps them think about the effect of monopolies on consumers.

From Public to Private — Non-excludable, Non-rival Goods

During this lesson, students will learn about public and private goods. First, students are introduced to the economic terms rivalry and excludability, classifying examples of each. Next, students will think about public goods through the article “Raising the Bar: The Role of ‘Social Information’ in Charitable Giving.” Finally, based on their reading, students will create business plans for one specific public good: namely, public radio.

Monopoly Money — Perfect Competition and Monopoly Rents

In this lesson, students will compare and contrast perfect competition with monopoly markets. The lesson begins with a brief discussion on barriers to entry. Next, students will break into small groups, brainstorming the barriers to entry and competition in different markets. Finally, students will read “Microsoft Vs. the Feds: Drawing the Battle Lines,” using this case study to examine the impacts (positive and negative) of monopoly markets.

Public Service Announcement — Non-excludable, Non-rival Goods

During this lesson, students will learn about public and private goods. First, students are introduced to the economic terms rivalry and excludability. Next, students will think about public goods through the Knowledge@Wharton High School article: “The Voice of A Green Generation.” Finally, students will think about the implications of putting a price on public and private goods.

Regulate — Government Interventions

In this lesson, we will look at government intervention into the marketplace. Building on previous lessons (i.e. public goods, externalities, monopolies), students will think about the rationale for government intervention. Using the article “Driver Alert: Car Insurance Will Cost You,” students will use car insurance as a case study for government regulation. Finally, students will look quantitatively at the impacts of one particular regulation, a price ceiling, on both supply and demand.

Side Effects — Positive and Negative Externalities

In this lesson, students are introduced to positive and negative externalities. Using the article, “Philanthro-teen Shannon McNamara: Educating Girls in Tanzania,” students will think about the unintended consequences of economic choices. In particular, students will work in groups to list the positive and negative externalities of living in different communities. Finally, students will think about how government intervention might alleviate negative externalities and promote positive externalities.

Tragedy of the Commons — Protecting Public Goods

In this lesson, students will use their knowledge of public goods, externalities and regulation to think about the tragedy of the commons. In particular, students will take on the role of fisherman, looking at the trade-off between consumption and conservation. After several rounds of “fishing,” the class will discuss the role of regulation in protecting public goods.

Unintended Consequences — Positive and Negative Externalities

In this lesson, students are introduced to positive and negative externalities. Using the article, “Social Responsibility in the Corporate World,” students will discuss corporate responsibility for negative social outcomes. In particular, students will work in groups, each tackling a particular industry, and that industry’s response to negative externalities.

IV. Markets and Prices

Balancing Acts — Finding Equilibrium Price

This lesson uses students’ knowledge of supply and demand curves to explain equilibrium prices. Using the Knowledge@Wharton High School article “How Much Did You Spend on Prom?,” students will consider what happens when markets face excess supply and excess demand. In particular, students will take on the role of small business, calculating earnings and losses at different prices.

Bringing It All Together — Supply and Demand Game

In this lesson, students will reason about complex supply and demand relationships by playing an economics game. This game combines previous lessons on the laws of supply and demand, shifts in supply and demand, equilibrium prices and elasticity. Students will take on one of many supply-chain roles (e.g. factory, wholesale, distributor, retailer), and make concrete choices about inventory and sales. The lesson provides students with personal experience from which to compare formal economic theory.

Deconstructing Supply–What Makes a Supply Curve?

In this lesson, we will look in depth at the supply curve. In particular, students will look at the role of marginal cost in creating a demand curve, and the inputs that create a marginal cost curve. Students will use the article “Career Insider: Fashion Buyers Play by the Numbers” to think about the supply curve for a fashion designer, or other clothing business.

Dis(Equilibrium) — Who Sets Prices Anyway?

This lesson uses students’ knowledge of supply and demand curves to explain equilibrium prices. Using the article “How About Free? The Price Point that Is Turning Industries on Their Heads,” students will consider what happens to markets when there is excess supply and excess demand. This lesson will also introduce students to the concepts of a price ceiling and a price floor.

Division of Labor–Taking Advantage of Efficiency

In this lesson we will look at the concept of division of labor. Through a short in-class activity, students will demonstrate the value and efficiency of specialization. Next, students will think about division of labor when it comes to group work, thinking about their own strengths and weaknesses, and how best to use those skills in a group setting. Finally, using the article “A Piece of Cake? Hardly, but Autumn Bayles Helped Herself, and Others, Rise to the Top,” students will think about how the division of labor encourages trade within the market.

Elasticity — How Much Are You Willing to Pay?

In this lesson, we look at the concept of price elasticity by introducing students to complementary and substitute goods. Using the article “McCormick’s Alan D. Wilson on Pricing, Innovation and the ‘Romance of Spice,’” students will generate lists of products with multiple substitutes and products with no substitute. Based on these examples, students will think about how the presence of substitute goods affects supply and demand decisions. Finally, building on student work, the teacher will introduce the terms inelastic and elastic to describe different types of supply and demand curves.

From Many, One — Developing Aggregate Supply and Demand

This lesson is an introduction to the laws of supply and demand. In this lesson, students will examine how the macro-level economy emerges from individual preferences and choices. Using the article “John Brock of Coca-Cola: Staying Strong in the Competitive Beverage Industry,” students think about supply and demand from the perspective of a large beverage supplier, like Coca-Cola.

Gaming the System — Playing with Supply and Demand

In this lesson, students will reason about supply and demand relationships by playing an economic game inspired by Cyril Morong. This game combines previous lessons on: the laws of supply and demand, shifts in supply and demand, equilibrium prices, and elasticity. In the game, students will work as buyers and sellers to maximize their individual profits. Based on the aggregate of individual decisions, the class will create its own supply and demand curves.

Inflation –The Value of Money

In this lesson, we will look at the concept of inflation. In particular, the lesson will introduce students to the concept of money supply and the changing value of money over time. Students will look at the causes of inflation and their effect on purchasing power. After reading a short description of the Consumer Price Index (CPI), students will work through problems on purchasing power over time.

Money–What Is It Good For?

In this lesson, we will look at the concept of money. Students will develop their own definition of money, which we will then compare and contrast with official economic definitions of money. Students will think about what it means to “store value” and act as a “medium of exchange.” Based on this definition, students will consider whether several historical examples of “money” fit the official economic definition. Finally, discussion will revolve around the article “Kiva: Improving People’s Lives One Small Loan at a Time.”

Push and Pull — Shifts in Supply & Demand

In this lesson, we look at shifts in the aggregate supply and demand curves. Using the article “After Reading Fast Food Nation, You May Want to Hold the Fries,” students will look specifically at the fast food industry, examining how and why supply and demand will shift at a given price.

Rubber Bands–Price Elasticity 101

In this lesson, we look at the economics concept of price elasticity by introducing students to complementary and substitute goods. Using the Knowledge@Wharton article “The Crowded, Caffeinated Soft Drink Sector: Who Will Bubble Up to the Top?” students will think about substitutes and complements from a business perspective. Finally, building on student work, the teacher will introduce the terms inelastic and elastic to describe different types of supply and demand curves.

Shifts — What Can Change Supply & Demand?

In this lesson, we look at shifts in the aggregate supply and demand curves. Using the article “After Reading Fast Food Nation, You May Want to Hold the Fries,” students will look specifically at the fast food industry, brainstorming how supply and demand might shift at a given price.

Sunk Costs

In this lesson, we will look at the concept of sunk costs. In particular, students will compare “rational” economic decision-making to “irrational” commitment to inefficient outcomes. Using the article “Strong Leaders Encourage Dissent, and Gain Commitment,” students will take time to reflect on their own experiences with sunk costs. Finally, students will look at several economic rationalizations, classifying each as “economically rational” or not.

The Laws of Supply and Demand

This lesson is an introduction to the laws of supply and demand. In this lesson, students will build on basic knowledge of supply and demand by carefully considering the difference between individual and aggregate economic choices. Using the article “McCormick’s Alan D. Wilson on Pricing, Innovation and the ‘Romance of Spice’” students will look at how the larger economy develops from individual actors’ rational economic choices. This lesson will also briefly preview concepts of equilibrium and elasticity (which are both covered in-depth later in this unit).

VI. Productivity

Public Service Announcement — Non-excludable, Non-rival Goods

During this lesson, students will learn about public and private goods. First, students are introduced to the economic terms rivalry and excludability. Next, students will think about public goods through the Knowledge@Wharton High School article: “The Voice of A Green Generation.” Finally, students will think about the implications of putting a price on public and private goods.

VII. The Role Of Government

Competition 101 — Perfect Competition, Oligopoly and Monopolies

In this lesson, students will compare and contrast perfect competition with monopolies and oligopolies. Students will work in groups to find examples of each type of market. Next, students will read “Microsoft Vs. the Feds: Drawing the Battle Lines,” to see examples of monopolies in practice. Finally, students will do a short activity that helps them think about the effect of monopolies on consumers.

From Public to Private — Non-excludable, Non-rival Goods

During this lesson, students will learn about public and private goods. First, students are introduced to the economic terms rivalry and excludability, classifying examples of each. Next, students will think about public goods through the article “Raising the Bar: The Role of ‘Social Information’ in Charitable Giving.” Finally, based on their reading, students will create business plans for one specific public good: namely, public radio.

Monopoly Money — Perfect Competition and Monopoly Rents

In this lesson, students will compare and contrast perfect competition with monopoly markets. The lesson begins with a brief discussion on barriers to entry. Next, students will break into small groups, brainstorming the barriers to entry and competition in different markets. Finally, students will read “Microsoft Vs. the Feds: Drawing the Battle Lines,” using this case study to examine the impacts (positive and negative) of monopoly markets.

Regulate — Government Interventions

In this lesson, we will look at government intervention into the marketplace. Building on previous lessons (i.e. public goods, externalities, monopolies), students will think about the rationale for government intervention. Using the article “Driver Alert: Car Insurance Will Cost You,” students will use car insurance as a case study for government regulation. Finally, students will look quantitatively at the impacts of one particular regulation, a price ceiling, on both supply and demand.

Side Effects — Positive and Negative Externalities

In this lesson, students are introduced to positive and negative externalities. Using the article, “Philanthro-teen Shannon McNamara: Educating Girls in Tanzania,” students will think about the unintended consequences of economic choices. In particular, students will work in groups to list the positive and negative externalities of living in different communities. Finally, students will think about how government intervention might alleviate negative externalities and promote positive externalities.

Tragedy of the Commons — Protecting Public Goods

In this lesson, students will use their knowledge of public goods, externalities and regulation to think about the tragedy of the commons. In particular, students will take on the role of fisherman, looking at the trade-off between consumption and conservation. After several rounds of “fishing,” the class will discuss the role of regulation in protecting public goods.

Unintended Consequences — Positive and Negative Externalities

In this lesson, students are introduced to positive and negative externalities. Using the article, “Social Responsibility in the Corporate World,” students will discuss corporate responsibility for negative social outcomes. In particular, students will work in groups, each tackling a particular industry, and that industry’s response to negative externalities.

Entrepreneurship

I. Entrepreneurs and Entrepreneurial Opportunities

A Kinder Entrepreneur for Global Business: Putting Yourself in the Shoes of Others

Students will begin this lesson by reading the article, “Why Global Business Needs Kinder, Gentler Entrepreneurs and Leaders.” After a short discussion on the article, students will watch brief travel videos on a select number of countries and then choose one of those countries around which to create a travel- related business.

An Entrepreneur in South Africa

In this lesson, students will learn about one entrepreneur’s venture in South Africa, which will highlight some of the unique challenges of doing business in this country. Then they will discuss some of the pros and cons of an attempt to scale up the business mentioned in the article by exporting cookies and creating stores in disadvantaged U.S. cities.

Giving Your Business Some Soul

In this lesson, students will identify the characteristics of social entrepreneurs. They will brainstorm a list of popular social campaigns like the breast cancer Pink Ribbon campaign. Then they will read the Knowledge@Wharton article: “Kenneth Cole: How the King of Sole Got Soul.” This article reveals how Kenneth Cole leveraged his fashion retail business into a campaign to increase social awareness and benefit an important cause. Students will then get the chance to develop a social campaign that focuses on an issue of their choice.

Innovation and Social Entrepreneurship

Students will begin this lesson by having a discussion on the definition and true meaning of the word technology. Then, each student will discuss how he or she uses technology in their everyday lives and how the use of that technology affects them. Next, students will read the Knowledge@Wharton article: “’Being Cautious Is to Stop Moving’: How Innovation and Entrepreneurship Can Bring Societal Change,” and discuss how technology can increase productivity and efficiency in public life. Then, students will work in groups to devise a plan based on how they can use technology to solve a problem in their community.

Innovative Ideas Come from Need

In this lesson, students will read and analyze informational text comparing and contrasting themes and ideas. Students will learn about innovation and where innovative ideas come from. Students will research and report on innovative businesses.

Nonprofits and Social Entrepreneurial Ventures

In this lesson, students learn to distinguish between a nonprofit and a social entrepreneurial venture. After a brief discussion on nonprofits, students read a Knowledge@Wharton article and use it to define a nonprofit and to identify differences and similarities between nonprofits and social entrepreneurship. Students ultimately develop a nonprofit that combines elements of social entrepreneurship.

Social Entrepreneurs: Change Agents

In this lesson, students will learn some of the definitions, characteristics and benefits of social entrepreneurship. They will begin with an activity that serves as a metaphor to highlight one of the social issues a social entrepreneur may be concerned with. Then students will read the Knowledge@Wharton article: “Social Entrepreneurs: Playing the Role of Change Agents in Society,” and answer questions to help them better understand the topic.

The Act of Being an Entrepreneur

Students will begin this lesson by answering three important questions that every entrepreneur should be able to answer. Then they will listen to the Knowledge@Wharton podcast on: “Basics of Entrepreneurship: ‘The Act of Being an Entrepreneur Is Indeed an Act of Leadership.’” After this, students will work in groups to create a blueprint that charts the growth plan of a business assigned to them.

The Characteristics of a Traditional Entrepreneur

In this lesson, students will learn the distinct characteristics of a traditional entrepreneur. They will listen to the Knowledge@Wharton podcast on: “Ted Leonsis: It’s the Greatest Time to Be an Entrepreneur.” Then students will work in groups to read three other articles to identify the characteristics of a traditional entrepreneur, and present those to the class.

The Characteristics of an Organizational Entrepreneur

In this lesson, students will listen to two podcasts centered on the issues and characteristics of entrepreneurship within organizations. They will identify the qualities an entrepreneurial leader must have. After that, they will practice organizational entrepreneurship by designing an innovative website for a company of their choosing.

The Organizational Entrepreneur

In this lesson, students will review what they have learned so far about traditional entrepreneurship and learn what it means to be an organizational entrepreneur. They will discuss an example of organizational entrepreneurship by reading the Knowledge@Wharton article: “’We Don’t Eat Scones’: Magic Johnson Proves He Has the Acumen for More than Hoops.” From the article students will learn how Magic Johnson was an organizational entrepreneur for Starbucks by modifying the famous coffee shop for customers in urban areas. After defining and discussing what an organizational entrepreneur is, students will then get the chance to be organizational entrepreneurs. They will identify companies that they purchase products from and then select a few of these companies to modify or create new products or services for them.

The Qualities of an Entrepreneur — Is It about Sacrifice?

In this lesson, students will identify some of the main characteristics of entrepreneurs by reading the Knowledge@Wharton article: “James Nakagawa of Mobile Healthcare: ‘Entrepreneurship Is about Sacrifice.’” Students will reflect on what type of entrepreneur they are, devise their own idea, product or service and create an elevator pitch for that idea to share with the class.

The Traditional Entrepreneur

This lesson will teach students what it means to be a traditional entrepreneur. Students will begin the lesson by taking on the role of a traditional entrepreneur and developing their own product or service. They will learn to define the concept of a traditional entrepreneur by reading and discussing the Knowledge@Wharton High School article: “The Rise of Tech Teentrepreneurs.” Next, students will work in groups to list the potential types of products and services that a traditional entrepreneur may offer. Finally, students will watch the Knowledge@Wharton High School video on: “Nat Turner: Young, Entrepreneurial, and Google-Owned,” and discuss how one young entrepreneur moved on from starting a business to being Google-owned.

What Kinds of Skills Do Entrepreneurs Need?

Students will begin this lesson with a discussion of emerging markets. Then they will read the Knowledge@Wharton article: “Globalization With a Human Face — and a Social Conscience,” and have a brief discussion on the key ideas mentioned in the article. Students will then identify the skills and talents that each of them has and work to leverage those skills to impact the life of another or the lives of others.

Who Is an Entrepreneur?

In this introductory lesson, students will learn how to describe the skills and characteristics of an entrepreneur and will provide real-life examples of entrepreneurs.

II. Marketing

Bake Sale Lesson 1: Marketing Research Part I

This is the first day of a two-part lesson in entrepreneurship marketing research. In the overall project, Bake Sale, the class will become a company. In this piece of the unit, students will be learning about market research. They will create a survey and begin to collect the data. This lesson and the next can be used in the unit or modified slightly to stand alone and teach about entrepreneurship market research.

Bake Sale Lesson 4: Accounting and Marketing

In the overall project, Bake Sale, the class will become a company. In this section of the unit, students will work as a class to learn about accounting. They will determine the accounting strategy that they will use and begin marketing for the bake sale.

Creating a Business Plan Lesson 3: Analyzing the Market

In this lesson of the unit Creating a Business Plan, students are introduced to marketing and the purpose of analyzing the market. In this lesson, students will work in groups and begin to analyze the current marketplace for their products and how those products are being marketed.

Making Something Better: Market Research to Market Your New Product (Lesson 2 of 3)

Students will learn about market research and what it means to collect data, analyze data and use it to make business decisions.

Making Something Better: Market Research to Market Your New Product (Lesson 3 of 3)

Students will learn about market research and what it means to collect data, analyze data and use it to make business decisions.

Making Something Better: Using the Engineering Design in Business (Lesson 1 of 3)

Students will use the engineering design (or scientific method) that they are familiar with in science to apply to creating/designing a better product. Students will select a product and then make it better. They will use marketing research to think about who to market it to and how to market the product.

III. Economics

Creating a Business Plan Lesson 5: Supply and Demand-Where Does Our Product Fit?

In this lesson of the unit Creating a Business Plan, students will learn the rules of supply and demand and begin to apply those rules to real-life situations and their own marketing plans for their business plans.

IV. Finance

Bake Sale Lesson 3: Finance and Accounting

In the overall project, Bake Sale, the class will become a company. In this section of the unit, students will learn about financing their bake sales and making financially educated decisions. They will research two types of bake sale goods they might make and sell at the bake sale. They will learn about variable costs and revenue. They will then make a decision based on the finances they explored.

Introduction to Industry Analysis (Porter’s Five Forces)

In this lesson, students think critically about investment choices. Toward that end, the lesson focuses primarily on the Porter’s Five Forces framework. After the lesson, students should be able to define the five tenets of Porter’s Five Forces and apply the framework to different companies/industries in order to evaluate their investment potential.

Jobs and Money Lesson 2: Choosing Jobs, Choosing Salaries

In this lesson, students think about the different kinds of wages and income they can earn. Students explore how work or service is valued in terms of wages and how more education can be an asset to earning more income.

Jobs and Money Lesson 4: Soft Skills and the Job Market

This lesson is mostly about increasing student exposure to the international job market and the kinds of skills that are valued in that space. The students will read about consulting jobs and think about why such jobs are so popular and dominant in the job market today.

Relative Value Ratios

This lesson continues to look at the investor’s decision-making process. Financial documents and financial ratios are one piece of this puzzle. In this lesson, students will learn about another piece of evidence that investors use when making choices: relative value ratios. This lesson will cover the main relative value ratio (P/E ratio), giving students more tools for their investment toolbox.

V. Accounting

Bake Sale Lesson 3: Finance and Accounting

In the overall project, Bake Sale, the class will become a company. In this section of the unit, students will learn about financing their bake sales and making financially educated decisions. They will research two types of bake sale goods they might make and sell at the bake sale. They will learn about variable costs and revenue. They will then make a decision based on the finances they explored.

Bake Sale Lesson 4: Accounting and Marketing

In the overall project, Bake Sale, the class will become a company. In this section of the unit, students will work as a class to learn about accounting. They will determine the accounting strategy that they will use and begin marketing for the bake sale.

Bake Sale Lesson 5: The Finale

In the overall project, Bake Sale, the class will become a company. In this section of the unit, students wrap up the unit by going over the final accounting of the costs, revenue and profits. They will work as a class to develop a presentation and write a letter to the charity/organization to which they are presenting the proceeds.

Relative Value Ratios

This lesson continues to look at the investor’s decision-making process. Financial documents and financial ratios are one piece of this puzzle. In this lesson, students will learn about another piece of evidence that investors use when making choices: relative value ratios. This lesson will cover the main relative value ratio (P/E ratio), giving students more tools for their investment toolbox.

VI. Management

Creating a Business Plan-Lesson 10: Who Do You Want to Work for You?

In this lesson of the unit Creating a Business Plan, students will write job descriptions for the types of positions they need to fill within their businesses.

Servant Leadership

Students will begin this lesson with a conversation about their experiences with various types of customer service. Then they will dissect how employees are portrayed in a Southwest Airlines commercial. After that, students will watch a video interview with the CEO of Southwest Airlines, Colleen Barrett, as she discusses her leadership philosophy of “servant leadership.” Students will then discuss the concept of servant leadership and go over the servant leadership pyramid. Once students understand this unique personal leadership style, they will use it to solve a management problem in a service-related business.

VII. Global Markets

A Kinder Entrepreneur for Global Business: Putting Yourself in the Shoes of Others

Students will begin this lesson by reading the article, “Why Global Business Needs Kinder, Gentler Entrepreneurs and Leaders.” After a short discussion on the article, students will watch brief travel videos on a select number of countries and then choose one of those countries around which to create a travel- related business.

An Entrepreneur in South Africa

In this lesson, students will learn about one entrepreneur’s venture in South Africa, which will highlight some of the unique challenges of doing business in this country. Then they will discuss some of the pros and cons of an attempt to scale up the business mentioned in the article by exporting cookies and creating stores in disadvantaged U.S. cities.

Borderless Innovation

In this lesson, students will learn how multinationals conduct borderless innovation. They will begin with a discussion about what a multinational company is and brainstorm a list of multinational corporations. Then they will read the Knowledge@Wharton article: “Borderless Innovation: Stretching Company Boundaries to Come Up with New Ideas,” and discuss some of the key ideas in it. Students will break into groups to discuss one of the four businesses mentioned in the article, and how businesses can adapt to meet their innovation needs.

Building Wealth in the Developing World

This lesson teaches students some of the issues related to conducting business in global markets. They will read and discuss the Knowledge@Wharton article, “Lessons in Entrepreneurship and Wealth Building from the Developing World.” They will then take a closer look at one of the seven principles that the article highlights to help entrepreneurs evaluate highly uncertain market environments.

Doing Business in China

Students will begin this lesson with an introduction to China and the Chinese economy. Then, they will read the Knowledge@Wharton article: “An American Entrepreneur in Shanghai,” and use the information to create brochures that present the opportunities, challenges and recommendations for doing business in China. Students will then use these brochures to provide consultancy to a firm that is trying to enter the Chinese market.

Entrepreneurship in Nigeria

This lesson will begin by giving students an opportunity to become familiar with the African country of Nigeria. Then they will listen to the Knowledge@Wharton podcast on: “The Entrepreneurship Challenge in Nigeria,” and discuss the distinct challenges facing entrepreneurs in the country and what is being done to alleviate them. Finally, students will watch a video that highlights one Wharton student’s work to nurture entrepreneurship in Nigerian youth.

Governments and Global Entrepreneurs: Always in the Way?

In this lesson, students will discover the role governments can play in encouraging or hindering entrepreneurship. They will also learn the role governments, both local and international, play in global entrepreneurship. They will listen to the Knowledge@Wharton podcast “In Global Entrepreneurship, One Small Initiative Can Make One Huge Difference,” and discuss its key ideas. To highlight many of the examples mentioned in the podcast, students will watch the video: “Chinatown, Africa” by Vanguard and discuss the problems faced by governments and global initiatives that the video underscores.

How Cultural Factors Affect Leadership

Students will begin this lesson by reading the article, “How Cultural Factors Affect Leadership.” They will discuss key differences in leadership traits among different countries as well as which traits are universally accepted. Next they will get a lesson in cultural sensitivity by learning and practicing the basic phrases and/or gestures to greet someone, say goodbye, exchange a business card and other important cultural differences to note when doing business in another country.

Incubating Entrepreneurship

In this lesson, students will learn about a unique concept that one man has developed to spur entrepreneurial activity. They will read the Knowledge@Wharton article: “Incubating Silicon Valley-style Ideas in the Middle East,” and discuss what an incubator is and how it enhances entrepreneurial activity. Then students will get a chance to develop their own incubator that would enhance their community and another country of their choosing.

Selling to the World

This lesson will introduce students to economic globalization and what it means to be an entrepreneur in a global marketplace. The lesson will commence with a conversation about economic globalization and the opportunities and challenges it poses for entrepreneurs. Students will read the Knowledge@Wharton article: “Selling Appliances to the World” and discuss some of its main ideas. They will then review some products from international companies at the Consumer Electronics Show, to highlight key ideas from the reading.

VIII. Legal

An Introduction to Intellectual Property

In this lesson, students will get an introduction to intellectual property and the concept of owning information. They will begin by watching a PowerPoint slideshow that highlights famous products and brands and their fake counterparts. Then students will read and discuss the key ideas in the Knowledge@Wharton article: “The Two Faces of Intellectual Property in Brazil,” which highlights the problems intellectual property theft creates for companies and governments abroad and at home. To get a different perspective on the issue, students will read the Knowledge@Wharton article: “Intellectual Property Concerns Aren’t Keeping Firms Out of China,” and discuss key ideas mentioned in it.

Becoming a Good Business Person

Students will learn about the legal aspects of becoming an entrepreneur.

Creating a Business Plan Lesson 11: Legal Issues for Entrepreneurs

In this lesson of the unit Creating a Business Plan, students understand the terms copyright and patent. They will apply the terms to their own business models.

Don’t Copy Me: Copyrights, Patents and Trademarks

Students will begin this lesson by reviewing key intellectual property rights such as copyrights, patents and trademarks. Then they will read the Knowledge@Wharton article: “Are Efforts to Extend Patent and Copyright Laws Good for Business or Good for Society?” and discuss the implications of copyright and patent extensions on innovation and society.

Intellectual Property: Copyrights

This lesson introduces students to the concept of and the challenges surrounding copyright laws. They will begin by learning about what kinds of things may be copyrighted and the definition and main idea behind copyright laws. Then they will watch videos that further explain copyright laws and why some think these laws restrict creativity in a digital age. Next, students will hear about one case where a person was sued over violations of copyright laws, and listen to the Knowledge@Wharton podcast on: “Suing Your Customers: A Winning Business Strategy?” Finally, students will cast their own vote to determine what kinds of works may be copyrighted and in what way.

Intellectual Property: Patents

In this lesson, students will be introduced to patents and patent laws. The lesson will start with a brief lecture on patents. Then students will identify what types of patents some of the most famous U.S. inventions may have been awarded. Finally, to highlight some of the issues with patents, students will listen to the Knowledge@Wharton podcast: “Battle over Blackberry: Is the U.S. Patent System Out of Whack?” and discuss some of the key ideas in it with a partner.

Intellectual Property: Trademarks

In this lesson, students will learn about trademarks and trademark law. They will learn about a famous case in which one retailer had to pay a large amount of money for trademark infringement. Then they will watch a video that describes what a trademark is, why a company would want to file for a trademark, and the process to obtain a trademark. Next, students will read the Knowledge@Wharton article: “An Olive Oil that Has Global Aspirations,” which highlights the importance of filing for a trademark. Finally, students will get the chance to create their own trademark for an assigned business.

IX. Business Plans

Creating a Business Plan Lesson 1: I Have an Idea!

In this first lesson of the unit Creating a Business Plan, students are introduced to the concepts of entrepreneurship and what it takes to create a business plan. In this lesson students will work in groups and construct ideas for which they will eventually create business plans. This is the first of a series of lessons designed to build students’ understanding and ability to create their own business plans.

Creating a Business Plan Lesson 11: Legal Issues for Entrepreneurs

In this lesson of the unit Creating a Business Plan, students understand the terms copyright and patent. They will apply the terms to their own business models.

Creating a Business Plan Lesson 12: Creating Your Business Plan (Part II)

In this lesson of the unit Creating a Business Plan, students will apply the ideas and concepts they learned throughout the unit to develop their own business plans.

Creating a Business Plan Lesson 13: Creating Your Plan

In this lesson of the unit Creating a Business Plan, students will apply the ideas and concepts they learned throughout the unit to develop their own business plans.

Creating a Business Plan Lesson 14: Presenting Your Business Plan to Stakeholders

In this lesson of the unit Creating a Business Plan, students will present their business plans.

Creating a Business Plan Lesson 3: Analyzing the Market

In this lesson of the unit Creating a Business Plan, students are introduced to marketing and the purpose of analyzing the market. In this lesson, students will work in groups and begin to analyze the current marketplace for their products and how those products are being marketed.

Creating a Business Plan Lesson 5: Supply and Demand-Where Does Our Product Fit?

In this lesson of the unit Creating a Business Plan, students will learn the rules of supply and demand and begin to apply those rules to real-life situations and their own marketing plans for their business plans.

Creating a Business Plan-Lesson 10: Who Do You Want to Work for You?

In this lesson of the unit Creating a Business Plan, students will write job descriptions for the types of positions they need to fill within their businesses.

I. Allocation of Resources

I. Entrepreneurs and Entrepreneurial Opportunities

I. Foundations of Communication

I. Foundations of Marketing

I. Management Functions

I. Mathematical Foundations

I. Personal Decision Making

I. Self-Awareness

I. The Accounting Profession

II. Career Research

II. Consumers and Their Behavior

II. Earning and Reporting Income

II. Economic Systems

II. Financial Reports

II. Management Theories

II. Marketing

II. Number Relationships and Operations

II. Societal Communication

II. The Global Business Environment

III. Business Organization

III. Economics

III. External Factors

III. Financial Analysis

III. Managing Finances and Budgeting

III. Patterns, Functions, and Algebra

III. Workplace Communication

III. Workplace Expectations

Information Technology

XVII. Information Technology and Business Functions

Innovative Ideas Come from Need

In this lesson, students will read and analyze informational text comparing and contrasting themes and ideas. Students will learn about innovation and where innovative ideas come from. Students will research and report on innovative businesses.

International Business

II. The Global Business Environment

A Kinder Entrepreneur for Global Business: Putting Yourself in the Shoes of Others

Students will begin this lesson by reading the article, “Why Global Business Needs Kinder, Gentler Entrepreneurs and Leaders.” After a short discussion on the article, students will watch brief travel videos on a select number of countries and then choose one of those countries around which to create a travel- related business.

Cultivating Total Leadership

Students will begin this lesson by reading the article, “Cultivating Total Leadership with Authenticity, Integrity and Creativity,” from the Knowledge@Wharton website. Then they will discuss the distinct challenges of a new business environment and the creative solutions companies are using to solve them. Next students will get an inside look at how one company, Google, cultivates total leadership. Students will then work in groups to develop a business office space that incorporates total leadership to meet global leadership challenges and keeps in mind global leadership concepts.

Global Leadership and Climate Change

Students will begin by discussing their knowledge on climate change and sustainability efforts. Then they will read the article, “Climate Change: Troubleshooting in China and Beyond” from the Knowledge@Wharton website and watch an accompanying video. The article and video highlight one of the biggest issues facing global leadership; the issue of climate change in a rapidly developing world. Students will work in groups to develop their own strategies to combat this issue.

How Cultural Factors Affect Leadership

Students will begin this lesson by reading the article, “How Cultural Factors Affect Leadership.” They will discuss key differences in leadership traits among different countries as well as which traits are universally accepted. Next they will get a lesson in cultural sensitivity by learning and practicing the basic phrases and/or gestures to greet someone, say goodbye, exchange a business card and other important cultural differences to note when doing business in another country.

The Global Market: Growing Ghana

The purpose of this lesson is to introduce students to the economic advantages and disadvantages of participating in the global market.

IV. Global Business Ethics and Social Responsibility

Global Leadership and Climate Change

Students will begin by discussing their knowledge on climate change and sustainability efforts. Then they will read the article, “Climate Change: Troubleshooting in China and Beyond” from the Knowledge@Wharton website and watch an accompanying video. The article and video highlight one of the biggest issues facing global leadership; the issue of climate change in a rapidly developing world. Students will work in groups to develop their own strategies to combat this issue.

VII. International Management

Global Leadership and Climate Change

Students will begin by discussing their knowledge on climate change and sustainability efforts. Then they will read the article, “Climate Change: Troubleshooting in China and Beyond” from the Knowledge@Wharton website and watch an accompanying video. The article and video highlight one of the biggest issues facing global leadership; the issue of climate change in a rapidly developing world. Students will work in groups to develop their own strategies to combat this issue.

IV. Accounting Applications

IV. Career Strategy

IV. Finance

IV. Global Business Ethics and Social Responsibility

IV. Markets and Prices

IV. Measurements

IV. Personal Management Skills

IV. Saving and Investing

IV. The Marketing Mix

IX. Business Plans

IX. Industry Analysis

Management

I. Management Functions

Five Functions of Management: Business Management Functions at the National Level

This is a capstone project lesson plan that emphasizes all aspects of the management functions of business (planning, staffing, organizing, directing and controlling) at the national level. If students need more direction on a given aspect of management functions, please see the following lesson plans for a more detailed understanding. (Business Planning at the National Level, Management Decision-making and Strategy at the National Level, Business Staffing at the National Level and Business Directing and Controlling at the National Level.

Five Functions of Management: Business Management Functions at the Nonprofit Level

This is a capstone project lesson plan that emphasizes all aspects of the management functions of business (planning, staffing, organizing, directing and controlling) at the nonprofit level. If students need more direction on a given aspect of management functions, please see the following lesson plans for a more detailed understanding. (Business Planning at the Nonprofit Level, Management Decision-making and Strategy at the Nonprofit Level, Business Staffing at the Nonprofit Level and Business Directing and Controlling at the Nonprofit Level.

Five Functions of Management: Business Planning at the Local Level

In this lesson, the teacher will address the “Planning” function of the “Five Functions of Management” as it occurs in the business context at the local level. Students will read “Eight Great Business Plans: Who Is This Year’s Winner?” Reassess how goals are met in a local business with a lack of resources. The planning function is the first function of the “Five Functions of Management” (see definition from standards below).

Five Functions of Management: Business Planning at the Multinational Level

In this lesson, the teacher will address the planning function of the “Five Functions of Management” as it occurs in the business context at the multinational level. Students will read “Wyndham Worldwide’s Stephen Holmes on the Changing Nature of Leisure Travel”

Then create a plan to expand the product offerings in a variety of contexts. The planning function is the first function of the “Five Functions of Management” (see definition from standards below).

Five Functions of Management: Business Planning at the National Level

In this lesson, the teacher will address the planning function of the “Five Functions of Management” as it occurs in the business context at the national level. Students will read “Building a Brand on the Smell of Mom’s Kitchen: How Panera Found Success in a Down Economy.” They will then conduct a SWOT analysis as a class on Panera Bread and create a plan based on their SWOT analyses. The planning function is the first function of the “Five Functions of Management.”

Five Functions of Management: Business Planning at the Nonprofit Level

In this lesson, the teacher will address the planning function of the “Five Functions of Management” as it occurs in the business context at the nonprofit level. Students will read “’Mustaches for Kids’: Charities Adopt Private Sector Models to Tap New Funds,” then conduct a SWOT analysis on the process of planning for a nonprofit.

Five Functions of Management: Management Decision-making and Strategy (Local level)

In this lesson, the teacher will address the Management Decision-making and Strategy function of the “Five Functions of Management” as it occurs in the business context at the local level. Students will read “Smooth as Silk: Product Diversification Gives Afghan Women a Competitive Edge.” Students will create an action plan for staffing needs post-merger. Management Decision-making and Strategy is the second function of the “Five Functions of Management”

Five Functions of Management: Management Decision-making and Strategy (Nonprofit level)

In this lesson, the teacher will address the Management Decision-making and Strategy function of the “Five Functions of Management” as it occurs in the business context at the nonprofit level. Students will read “’Warm’ or ‘Competent’? What Happens When Consumers Stereotype Nonprofit and For-profit Firms.” Students will then create a nonprofit and discuss organizational elements that go into making a nonprofit.

Management Decision-making and Strategy

In this lesson, the teacher will address the Management Decision-making and Strategy function of the “Five Functions of Management” as it occurs in the business context at the local level. Students will read the Knowledge@Wharton article: “Smooth as Silk: Product Diversification Gives Afghan Women a Competitive Edge.” Students will create an action plan for the post-merger staffing needs.

Planning as a Management Function

In this lesson, students will explore the significance of one of the five functions of management: planning. Using the Knowledge@Wharton article: “The Bitter and the Sweet: How Five Companies Competed to Bring Chocolate to China,” students will learn about the chocolate industry’s attempts to introduce chocolate to a developing country. They will also analyze the strengths and weaknesses of the planning and implementation processes employed by the five chocolatiers. Using knowledge generated from this case study, students will create plans of their own in various business contexts.

Porter’s Five Functions of Management: Directing and Controlling

In this lesson, the teacher will address the Directing and Controlling functions listed in the “Five Functions of Management” as they are applied in the business context at the local level. Students will first read the Knowledge@Wharton article: “Is This Madness? How Losing by Just a Little Can Help a Team – or Company – Win.” Then they will play a competitive game and analyze how motivational strategies can translate into small business directing. The directing and controlling functions are the fourth and fifth functions of the “Five Functions of Management” (see definition from standards below).

Porter’s Five Functions of Management: Staffing

In this lesson, the teacher will address the staffing function that is a part of the “Five Functions of Management” as it is applies to small businesses. Students will first read the Knowledge@Wharton article: “Snails, Samples and Mr. Biggs: Negotiating and Maintaining Professional Contracts,” and then conduct job interviews as they explore the recruitment and staffing functions. The staffing function is the third function in the list of the “Five Functions of Management” (see definition from standards below).

The Five Functions of Management

In this lesson, students will learn about the five functions of management by reading several Knowledge@Wharton articles that present a range of concrete roles and responsibilities common to management. Students will begin by thinking about what management means to them, and work toward building a comprehensive understanding of the specific types of responsibilities that fall under the five functions of management framework: decision-making, planning, staffing, directing and controlling. This lesson is ideal for providing students with a basic knowledge of management, which can be used to support later case study analyses of businesses or the development of entrepreneurial plans.

II. Management Theories

Balance Sheet

This lesson focuses primarily on the balance sheet. Students will learn the definition of a balance sheet (and its component parts). Students will learn to read and decode an actual balance sheet from a 10-K filing. Finally, students will use balance sheets to reason about the well being of individual companies.

Customers as a Competitive Force

Students will learn about the “customers” element of Michael Porter’s framework for analyzing business growth potential known as: The Five Competitive Forces, and apply this knowledge in developing a growth strategy for a business, product or service that they choose.

Five Competitive Forces: Bargaining Power of Buyers (Local)

In this lesson, the teacher will address a sub-element of the “five competitive forces” management theory: Bargaining Power of Buyers. Students will read “Power to the People or Just a Fad? Forecasting the Future of Group Buying Sites.” Then students will participate in a roleplay where they will assume the roles of buyers and sellers in a buyers’ market to determine how market forces can affect a seller’s ability to sell products.

Five Competitive Forces: Bargaining Power of Buyers (Multinational)

In this lesson, the teacher will address a sub-element of the “five competitive forces” management theory: Bargaining Power of Buyers. Students will read “Social Marketing: How Companies Are Generating Value from Customer Input.” Students will then work in groups and analyze how consumer groups organize in order to increase the buying power of multinationals.

Five Competitive Forces: Bargaining Power of Buyers (National)

In this lesson, the teacher will address a sub-element of the “five competitive forces” management theory: Bargaining Power of Buyers. Students will read “A ‘Blueprint for Profit’ in a Time of Growing Consumer Power.” Students will then work in groups and analyze the five sources of increased customer power.

Five Competitive Forces: Bargaining Power of Buyers (Non-Profit)

In this lesson, the teacher will address a sub-element of the “five competitive forces” management theory: Bargaining Power of Buyers. Students will read the Knowledge@Wharton article: “Warm’ or ‘Competent’? What Happens When Consumers Stereotype Nonprofit and For-profit Firms.” Then students will role play the roles funders and non-profits have in order to understand the buying power of funders.

Five Competitive Forces: Bargaining Power of Suppliers (Local)

In this lesson, the teacher will address a sub-element of the “Five Competitive Forces” management theory: bargaining power. Students will read “Winning in Two Worlds: Supply Chain Flexibility.”

Five Competitive Forces: Bargaining Power of Suppliers (Nonprofit)

In this lesson, the teacher will address a sub-element of the “five competitive forces” management theory: bargaining power of suppliers. Students will read “CHIP’s Katherina Rosqueta: ‘India and China Will Leapfrog Past the U.S. in Impact Investing’.” Then students will create a funding plan from a donor’s perspective supplying a nonprofit with funds.

Five Competitive Forces: Threats from New Entrants/Substitutes (Multinational)

In this lesson, the teacher will address a sub-element of the “five competitive forces” management theory: Threat New Entrants/Substitutes. Students will read “Wal-Mart, Posed for Expansion in China, Is Learning to be More Chinese,” and analyze threats Wal-Mart faces in China as it seeks to expand.

Five Competitive Forces: Threats from New Entrants/Substitutes (Local)

In this lesson, the teacher will address a sub-element of the “five competitive forces” management theory: Threats of New Entrants/Substitutes. Students will read the Knowledge@Wharton article, “Vive la Difference: Using Hyper-Differentiation Strategies to Build Value and Boost Profits.” Students will then do a SWOT analysis of the business described in the article to understand how a local company can compete with threats.

Five Competitive Forces: Threats from New Entrants/Substitutes (Local)

In this lesson, the teacher will address a sub-element of the “five competitive forces” management theory: Threat New Entrants/Substitutes. Students will read “Vive la Difference: Using Hyper-Differentiation Strategies to Build Value and Boost Profits.” Students will then create a class SWOT analysis of the business described in the article to understand how a local company can compete with threats.

Five Competitive Forces: Threats from New Entrants/Substitutes (National)

In this lesson, the teacher will address a sub-element of the “five competitive forces” management theory: Threat New Entrants/Substitutes. Students will read “Netflix: One Eye on the Present and Another on the Future,” then engage in an exploration activity analyzing how companies compete with each other on a national level.

Five Competitive Forces: Threats from New Entrants/Substitutes (Nonprofit)

In this lesson, the teacher will address a sub-element of the “five competitive forces” management theory: Threat New Entrants/Substitutes. Students will read “MAC AIDS Fund’s Nancy Mahon: Tying the Cause to the Brand.” Then students will generate a cause-effect chain to trace how funds can be derived from consumer purchases to nonprofit causes. Students will assess these chains for potential threats, then propose solutions to mitigate such threats.

Management Theories: Analysis of Five Competitive Forces (Local Level)

This is a capstone project lesson plan that emphasizes all aspects of the management theory of business with regards to the five competitive forces (Bargaining Power of Suppliers, Current Rivalry, Threat of New Entrants, Threat of Substitutes, and Bargaining Power of Buyers) at the local level.

If students need more direction on a given aspect of the five competitive forces of management theory, please see the following lesson plans for a more detailed understanding: Five Competitive Forces-Current Rivalry (Local), Five Competitive Forces-Bargaining Power of Suppliers (Local), Five Competitive Forces-Bargaining Power of Buyers (Local), and Five Competitive Forces-Threats from New Entrants and Substitutes (Local).
In this lesson students will create a SWOT analysis in order to analyze the five competitive forces. The five competitive forces are:
1. Current Rivalry: the intensity among rivals increases when industry growth rates slow, demand falls, and product prices descend.
2. Bargaining Power of Suppliers: As supply goes down, the bargaining power of suppliers goes up and vice versa.
3. Bargaining Power of Buyers: The degree to which buyers have the market strength to hold strength to hold sway over and influence competitors in an industry.
4. Threat of New Entrants: The ease or difficulty with which new competitors can enter an industry.
5. Threat of Substitutes: The extent to which switching costs and brand loyalty affect the likelihood of customers adopting substitute products and services.

Management Theories: Analysis of Five Competitive Forces (Multinational Level)

This is a capstone project lesson plan that emphasizes all aspects of the management theory of business with regards to the five competitive forces (Bargaining Power of Suppliers, Current Rivalry, Threat of New Entrants, Threat of Substitutes, and Bargaining Power of Buyers) at the multi-national level.

If students need more direction on a given aspect of the five competitive forces of management theory, please see the following lesson plans for a more detailed understanding: Five Competitive Forces-Current Rivalry (Multi-National), Five Competitive Forces-Bargaining Power of Suppliers (Multi-National), Five Competitive Forces-Bargaining Power of Buyers (Multi-National), and Five Competitive Forces-Threats from New Entrants and Substitutes (Multi-National).
In this lesson students will create a SWOT analysis in order to analyze the five competitive forces. The five competitive forces are:
1. Current Rivalry: the intensity among rivals increases when industry growth rates slow, demand falls, and product prices descend.
2. Bargaining Power of Suppliers: As supply goes down, the bargaining power of suppliers goes up and vice versa.
3. Bargaining Power of Buyers: The degree to which buyers have the market strength to hold strength to hold sway over and influence competitors in an industry.
4. Threat of New Entrants: The ease or difficulty with which new competitors can enter an industry.
5. Threat of Substitutes: the extent to which switching costs and brand loyalty affect the likelihood of customers adopting substitute products and services.

Management Theories: Analysis of Five Competitive Forces (National Level)

This is a capstone project lesson plan that emphasizes all aspects of the management theory of business with regards to the five competitive forces (Bargaining Power of Suppliers, Current Rivalry, Threat of New Entrants, Threat of Substitutes, and Bargaining Power of Buyers) at the national level.

If students need more direction on a given aspect of the five competitive forces of management theory, please see the following lesson plans for a more detailed understanding: Five Competitive Forces-Current Rivalry (National), Five Competitive Forces-Bargaining Power of Suppliers (National), Five Competitive Forces-Buyers (National), and Five Competitive Forces-Threats from New Entrants and Substitutes (National).

In this lesson, students will create a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis in order to analyze the five competitive forces. The five competitive forces are:
1. Current Rivalry: the intensity among rivals increases when industry growth rates slow, demand falls and product prices descend.
2. Bargaining Power of Suppliers: As supply goes down, the bargaining power of suppliers goes up and vice versa.
3. Bargaining Power of Buyers: The degree to which buyers have the market strength to hold strength to hold sway over and influence competitors in an industry.
4. Threat of New Entrants: The ease or difficulty with which new competitors can enter an industry.
5. Threat of Substitutes: the extent to which switching costs and brand loyalty affect the likelihood of customers adopting substitute products and services.

Management Theories: Analysis of Five Competitive Forces (Nonprofit Level)

This is a capstone project lesson plan that emphasizes all aspects of the management theory of business with regards to the five competitive forces (Bargaining Power of Suppliers, Current Rivalry, Threat of New Entrants, Threat of Substitutes, and Bargaining Power of Buyers) at the nonprofit level.
If students need more direction on a given aspect of the five competitive forces of management theory, please see the following lesson plans for a more detailed understanding: Five Competitive Forces-Current Rivalry (Non-Profit), Five Competitive Forces-Bargaining Power of Suppliers (Non-Profit), Five Competitive Forces-Bargaining Power of Buyers (Non-Profit), and Five Competitive Forces-Threats from New Entrants and Substitutes (Non-Profit).

In this lesson, students will create a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis in order to analyze the five competitive forces. The five competitive forces are:
1. Current Rivalry: the intensity among rivals increases when industry growth rates slow, demand falls, and product prices descend.
2. Bargaining Power of Suppliers: As supply goes down, the bargaining power of suppliers goes up and vice versa.
3. Bargaining Power of Buyers: The degree to which buyers have the market strength to hold strength to hold sway over and influence competitors in an industry.
4. Threat of New Entrants: The ease or difficulty with which new competitors can enter an industry.
5. Threat of Substitutes: the extent to which switching costs and brand loyalty affect the likelihood of customers adopting substitute products and services.

Management: ‘The Power of Impossible Thinking’

This lesson provides students access to some of the ideas presented in Colin Crook and Jerry Wind’s book: “The Power of Impossible Thinking: Transform the Business of Your Life and the Life of Your Business.” Knowledge@Wharton featured an interview with the two authors that provides a critical and provocative analysis of the ways in which managers fail to maximize business growth as a result of becoming too entrenched in conventional ways of thinking and failing to see and act upon the opportunities that surround them. Students will be directed to take up and apply one or more of Crook and Wind’s kernels of wisdom in the development of a strategic plan for a business, product or service in the local community.

Michael Porter’s Framework for Analyzing Business Growth: Entrants

Students will learn about economist Michael Porter’s framework for analyzing business growth potential, known as The Five Competitive Forces, and apply this knowledge (in particular, about entrants) in developing a growth strategy for a local area business, product or service.

Rivals and Analyzing Business Growth Potential

Students will examine the “rivals” element in Michael Porter’s framework for analyzing business growth potential, known as The Five Competitive Forces. They will apply this knowledge in developing a growth strategy for a business, product or service.

Strategizing for Business Growth

Using the Knowledge@Wharton article: “The Bitter and the Sweet: How Five Companies Competed to Bring Chocolate to China,” students will be guided in thinking about the importance of strategizing for growth in any business venture. Students will begin by brainstorming about the factors that should be considered in the growth strategy of a product or market. Afterwards, students will be introduced to an overview of Michael Porter’s Five Forces of Analysis for strategic planning. In subsequent classes, students will examine each component of the five forces in the context of creating a growth strategy plan for a business, product or service of interest to them.

Substitution as a Competitive Force

Students will learn about economist Michael Porter’s framework for analyzing business growth potential, known as: The Five Competitive Forces, and apply this knowledge (in particular, about substitution) in developing a growth strategy for a local business, product or service.

Understanding Suppliers through a Chocolatier’s Expansion

Students will examine the suppliers element of Michael Porter’s framework for analyzing business growth potential — known as The Five Competitive Forces — and apply this knowledge in developing a growth strategy for a business, product or service of their choosing.

III. Business Organization

Business Organization

In this lesson, the teacher will address the topic of organizational structure. Specifically, the class will cover the trend toward flattening of organizational hierarchies and the subsequent implications for career advancement. To illustrate the latter concept, students will read and discuss the Knowledge@Wharton article “Chief Receptionist Officer? Title Inflation Hits the C-Suite.”

Communication Styles

In this lesson, students learn a great deal about communication styles and then analyze one another’s style to understand what their preferred styles are. They should also think about the Platinum Rule that says the speaker should treat others however the other person would like to be treated and not how the speaker prefers it. By understanding that everyone has different communication styles, students will have greater awareness for differences and how to accommodate others’ communication styles. This is fundamental to developing successful emotional intelligence — understanding the thoughts, views and feelings of others.

Individual Decisions and Collective Success

This lesson encourages students to think about how decisions are made in teams when individuals choose to break away. In the article highlighted in the lesson plan, an individual breaks off from the team due to health concerns. It is very common for members to leave a team midway through. Students think through the difficulty of balancing individuals’ decisions and a team’s collective objective.

Innovative Ideas Come from Need

In this lesson, students will read and analyze informational text comparing and contrasting themes and ideas. Students will learn about innovation and where innovative ideas come from. Students will research and report on innovative businesses.

Leadership Is Not in a Vacuum

In this lesson, students think about how groups like trauma units have dynamic team leadership cultures. They will think about how these organizations incorporate new people, bring them up to speed quickly, and at the same time, maintain reliability and never commit an error. In this lesson, they will read about this kind of culture and analyze how this could work for their own organizations/clubs. They will think about how to imagine leadership and team organization as a system and not as a hierarchy.

Letting Go of Ego

In this lesson, students will act out different ways of letting go of ego and having more open communication with bosses/team leaders. They will read a Knowledge@Wharton article about this and role-play different situations where they have to ask for a new project, a raise, a higher position, etc.

Management: Business Organization at the National level

In this lesson, the teacher will address the oganization function as it occurs in the business context at the national level. Students will read “The Move from Tall to Flat: How Corporate Hierarchies Are Changing.” Students will then create a chart analyzing the three types of business relationships discussed for organizational applications.

Teamwork and Communication

In this high-energy lesson, students will be split up into different kinds of teams where they have to stay on their toes and react to unexpected situations. After a few rounds of playing, the students should have a class discussion about team dynamics, different leadership roles and how a team’s communication style in a high-pressure situation may be very different from one moment to the next.

Working on Team Tasks

In this lesson, students will learn how to identify team tasks. They will read about team tasks from a Knowledge@Wharton article. After that, they will play a few games to see how to identify team tasks and what characteristics identify these tasks from other kinds of tasks.

IV. Personal Management Skills

Cultivating Total Leadership

Students will begin this lesson by reading the article, “Cultivating Total Leadership with Authenticity, Integrity and Creativity,” from the Knowledge@Wharton website. Then they will discuss the distinct challenges of a new business environment and the creative solutions companies are using to solve them. Next students will get an inside look at how one company, Google, cultivates total leadership. Students will then work in groups to develop a business office space that incorporates total leadership to meet global leadership challenges and keeps in mind global leadership concepts.

Culture in the Workplace

This lesson is intended to help students understand the importance of culture in the workplace and to dispel myths about the under-representation of minorities on the basis of qualifications alone. The lesson will demonstrate that the degree to which one is aligned with the dominant culture of an organization, greatly impacts his or her chances of advancement to decision-making positions. This lesson may be used as a standalone exercise; however, it also serves as a good follow-up session to an introductory lesson on diversity.

Diversity in the Workplace

The issue of diversity in the workplace has been a longstanding concern since the introduction of Affirmative Action and other civil rights legislation such as the American Disabilities Act (ADA). This and the following lesson will support students in thinking critically about issues of diversity in the workplace and guide them in becoming advocates for promoting an inclusive and equitable workforce. Further, students will become more aware of their own cultural strengths as a result of self-examination.

Finding Opportunity in Challenges (Leadership)

In this lesson, students and the teacher learn from each other how they can find opportunities in challenging situations.

Group Dynamics (Leadership–2)

In this lesson, students and teacher collaboratively identify best practices of group work. Students analyze their own experiences for what works and does not work in group work. Meanwhile, the Knowledge@Wharton article helps students analyze the same for brainstorming. The suggestions that come up in this lesson will be useful for planning and executing brainstorming and group working in classes to follow.

How to Lead from Within

In this lesson students will learn how to lead from within by learning to manage both their egos and their emotions. They will begin by brainstorming a list of famous people and CEOs who are known to be hard to work with. Then, they will listen to a Knowledge@ Wharton podcast. After that, they will write their own responses to a list of quotes that were mentioned in the podcast and the class will discuss their responses and what it means to lead from within. Finally, to get students in touch with their own egos and emotions, they will each make a list of their personal strengths and weaknesses and choose one from each category to share with the class. This is done to get students comfortable with recognizing what they may be good at and also what improvements they still need to make.

Leadership in a Decentralized Company

Students will begin this lesson by discussing the term decentralization. Then they will watch Johnson & Johnson CEO William Weldon talk about the benefits and downsides to leadership in a decentralized corporate environment. Next, they will look at the struggles of one famous brand, Disney, as the company works to bring its famous theme parks to China. After that, students will develop their own leadership strategies to operate in a decentralized corporate environment so that their products benefit local consumers.

Servant Leadership

Students will begin this lesson with a conversation about their experiences with various types of customer service. Then they will dissect how employees are portrayed in a Southwest Airlines commercial. After that, students will watch a video interview with the CEO of Southwest Airlines, Colleen Barrett, as she discusses her leadership philosophy of “servant leadership.” Students will then discuss the concept of servant leadership and go over the servant leadership pyramid. Once students understand this unique personal leadership style, they will use it to solve a management problem in a service-related business.

Tapping into the Art of Possibility

Students will begin this lesson by watching a video or listening to audio of an orchestra performance. Then they will be asked to describe the leadership style that is employed by conductors of symphony orchestras. Next they will listen to a podcast about how one conductor chose to do things differently and got rid of the top-down traditional leadership style that is usually employed by music conductors in favor of encouraging his music students to choose the art of possibility. Students will write responses to questions that will display their comprehension of the podcast and discuss Benjamin Zander’s concept of the art of possibility. Finally, students will develop their own mission and vision statements that incorporate the decision to choose possibility as a staple of leadership.

The Glass Ceiling for Women

This lesson will help students to think about gender as a cultural construct that affects the ways in which people are perceived as being effective leaders. Students will explore and debate the myths and truths of gender-related leadership as well as speculate about the progress made by women in overcoming their historical second-class citizen roles.

The Importance of Developing a Personal Brand (Lesson 1)

Using the Knowledge@Wharton article: “You are Your Brand: Defining a Personal Leadership Style,” students will learn how accomplished businesswomen have orchestrated their successful climb up the highly competitive corporate ladder. This lesson focuses on Janet Hanson’s notion of the importance of developing a “personal brand,” which she suggests shapes one’s leadership style. Students will experiment with this concept by speculating on the personal brands of well-known celebrities.

The Importance of Developing a Personal Brand (Lesson 2)

This second of two lessons focuses on Janet Hanson’s views on the importance of developing a “personal brand,” which she suggests shapes one’s leadership style. In the first lesson, students experimented with this concept by speculating on the personal brands of well-known celebrities. In this lesson, they will engage in the process of defining their own personal brand, which will serve in helping them reach their next most important life goal.

The Progress of Women as Leaders

This lesson will encourage students to think about and explore the progress of women as leaders in a variety of spaces (e.g., business, government, law, education). Using gender as a category of diversity, students will also examine how culture (more specifically corporate culture) impacts women’s opportunities for advancement.

The Six Traits of Excellent Leaders

Students will begin this lesson by becoming familiar with two companies and their leadership philosophies. Then they will read the article, “HP and Patagonia: Two Similar, Yet Different, Leadership Styles” and take note of the six traits mentioned. After a brief discussion of each trait, students will work in groups to create skits that display leaders who have each trait and leaders who do not.

The Strength of Diversity Awareness

This lesson will engage students in reflecting upon themselves as diverse individuals and encourage them to view diversity awareness as a strength in doing business.

You Are Your Brand

This lesson will teach students about the concept of a personal brand, as well as encourage them to develop their own. Students will begin by reading an article to spark discussion about how they develop their personal brands and how it affects their leadership styles. Then they will think about and develop their own personal leadership style by writing about what they would like someone to say in a speech if they were to give them a lifetime achievement award for excellence in leadership. Students will ultimately understand their current personal brand, as well as how they would like it to develop as they grow and mature.

V. Ethics And Social Responsibility

Ethics: The Four Views of Ethics (Multinational)

In this lesson, students will address the four viewpoints of ethics. Students will read “Get Me Rewrite: What’s Next for Murdoch’s Media Empire?” then apply these viewpoints to News Corp to analyze the ways in which ethics may be addressed.

Ethics: The Four Views of Ethics (National)

In this lesson, students will examine the role of ethics in national business. Students will read the Knowledge@Wharton article, “Corporate Fraud on Trial: What Have We Learned?” and discover the lessons in corporate ethics violations. Then students will analyze various national corporate scandals to understand the importance of business ethics.

Global Business Ethics and Social Responsibility

This lesson introduces students to the idea of business ethics and social responsibility from a global perspective. The emphasis will be on unveiling the hidden costs of production and consumption and how students, as individuals, are implicated in this system. This lesson is the first of a four-lesson unit that will explore ethics and socially responsible behavior in the business world. It can be used as a launching point for studying social responsibility and ethics in a variety of ways.

Global Leadership and Climate Change

Students will begin by discussing their knowledge on climate change and sustainability efforts. Then they will read the article, “Climate Change: Troubleshooting in China and Beyond” from the Knowledge@Wharton website and watch an accompanying video. The article and video highlight one of the biggest issues facing global leadership; the issue of climate change in a rapidly developing world. Students will work in groups to develop their own strategies to combat this issue.

How Personal Values Impact Decision-making

This lesson will engage students in examining their own beliefs and values and where they come from. Further, they will explore how those personal values might impact decision-making using a case study approach.

Social Responsibility: Four Characteristics of Responsibility (Local)

In this lesson, the teacher will address the four characteristics of responsibility. Students will read “Case Study: Mpika Microfinance Scheme.” Students will then research different local businesses to determine their characteristic of socioeconomic responsibility.

Social Responsibility: Four Characteristics of Responsibility (Multinational)

: In this lesson, the teacher will address the four characteristics of responsibility. Students will read “Tiffany & Co: A Case Study in Diamonds and Social Responsibility.” Students will then work in groups and analyze a hypothetical company against the back drop of “doing nothing” versus “doing something.”

Social Responsibility: Four Characteristics of Responsibility (National)

In this lesson, the teacher will address the four characteristics of responsibility. Students will read “From Incentives to Penalties: How Far Should Employers Go to Reduce Workplace Obesity?.” Students will engage in a class debate over social responsibility vs. individual responsibility and create a consensus of a healthy balance between the two.

Social Responsibility: Four Characteristics of Responsibility (Non-profit)

In this lesson, the teacher will address the four characteristics of responsibility: Social Obligation, Social Responsiveness, Social Responsibility and Social Impact Management (Non-Profit). Students will read the Knowledge@Wharton article: “GlobalGiving’s Mari Kuraishi: Forging a 21st Century Model for Philanthropy”. Students will then arrange in groups to create their own socially responsible non-profits.

Social Responsibility: How Organizations Go Green

In this lesson, students will address how businesses embrace environmentally friendly strategies. First, students will engage in class discussions around environmentally friendly business actions, further classifying each action according to a typology of approaches. Then students will read the Knowledge@Wharton article, “Going Green: Why Germany Has the Inside Track to Lead a New Industrial Revolution.” Student groups will then view the article from a number of different perspectives to get a deeper understanding of the topic.

Socially Responsible and Ethical Business Behavior

This lesson will introduce students to various perspectives that companies employ in managing themselves in ethical and socially responsible ways.

Sustainability as Good Business Practice

In today’s world, business and industry are becoming more conscientious about the production of goods and services. In this lesson, students will learn about sustainability as a common symbol of good business practice. Students will also explore why and how the business world has come to embrace this focus, and think about how the general public looks at this issue, as well as discuss how entrepreneurs are addressing the issue of sustainability. This topic further demonstrates that business practices are fundamentally rooted in values and beliefs.

Understanding Fair Trade

Within the movement toward socially responsible business practices, new vocabulary and symbols have become important in identifying business and industry’s participation in such practices. In this lesson, students will learn about what the tag of “fair trade” stands for. Additionally, students will learn about the certification organizations who verify that socially responsible means were employed in the production of goods. Students will also be encouraged to critically examine the notion of fair trade, given the power dynamics that often exist in a relationship between vulnerable and powerful entities.

VI. Human Resource Management

Communication Styles

In this lesson, students learn a great deal about communication styles and then analyze one another’s style to understand what their preferred styles are. They should also think about the Platinum Rule that says the speaker should treat others however the other person would like to be treated and not how the speaker prefers it. By understanding that everyone has different communication styles, students will have greater awareness for differences and how to accommodate others’ communication styles. This is fundamental to developing successful emotional intelligence — understanding the thoughts, views and feelings of others.

Cultivating Total Leadership

Students will begin this lesson by reading the article, “Cultivating Total Leadership with Authenticity, Integrity and Creativity,” from the Knowledge@Wharton website. Then they will discuss the distinct challenges of a new business environment and the creative solutions companies are using to solve them. Next students will get an inside look at how one company, Google, cultivates total leadership. Students will then work in groups to develop a business office space that incorporates total leadership to meet global leadership challenges and keeps in mind global leadership concepts.

Culture in the Workplace

This lesson is intended to help students understand the importance of culture in the workplace and to dispel myths about the under-representation of minorities on the basis of qualifications alone. The lesson will demonstrate that the degree to which one is aligned with the dominant culture of an organization, greatly impacts his or her chances of advancement to decision-making positions. This lesson may be used as a standalone exercise; however, it also serves as a good follow-up session to an introductory lesson on diversity.

Diversity in the Workplace

The issue of diversity in the workplace has been a longstanding concern since the introduction of Affirmative Action and other civil rights legislation such as the American Disabilities Act (ADA). This and the following lesson will support students in thinking critically about issues of diversity in the workplace and guide them in becoming advocates for promoting an inclusive and equitable workforce. Further, students will become more aware of their own cultural strengths as a result of self-examination.

Improvisation in Teams

In this high-energy lesson, students will be split up into different kinds of teams and situations where they have to stay on their toes and react to unexpected situations. After each game, the teacher should ask the students to brainstorm how they felt about the team’s communication and different leadership roles that seemed to emerge in the impromptu games. After a few rounds of playing, the students should have a class discussion about team dynamics and how a team in a high-pressure situation may be very different from one moment to the next.

Leadership Is Not in a Vacuum

In this lesson, students think about how groups like trauma units have dynamic team leadership cultures. They will think about how these organizations incorporate new people, bring them up to speed quickly, and at the same time, maintain reliability and never commit an error. In this lesson, they will read about this kind of culture and analyze how this could work for their own organizations/clubs. They will think about how to imagine leadership and team organization as a system and not as a hierarchy.

Letting Go of Ego

In this lesson, students will act out different ways of letting go of ego and having more open communication with bosses/team leaders. They will read a Knowledge@Wharton article about this and role-play different situations where they have to ask for a new project, a raise, a higher position, etc.

Non-Profit Organization and Motivation

In this lesson, students will learn how to motivate team members when working on not-for-profit projects. The motivations that drive employees in for-profit companies can be very different than in non-profits. They will read a short article on this and then work in groups to brainstorm strategies to motivate their team and others. They will also role-play situations to motivate less eager team members.

Teamwork and Communication

In this high-energy lesson, students will be split up into different kinds of teams where they have to stay on their toes and react to unexpected situations. After a few rounds of playing, the students should have a class discussion about team dynamics, different leadership roles and how a team’s communication style in a high-pressure situation may be very different from one moment to the next.

The Strength of Diversity Awareness

This lesson will engage students in reflecting upon themselves as diverse individuals and encourage them to view diversity awareness as a strength in doing business.

Working on Team Tasks

In this lesson, students will learn how to identify team tasks. They will read about team tasks from a Knowledge@Wharton article. After that, they will play a few games to see how to identify team tasks and what characteristics identify these tasks from other kinds of tasks.

VII. Organized Labor

First Job: Making Demands

The purpose of this lesson is to introduce students to the vital components of labor unions – outlining working conditions. Students will explore the interconnectedness of labor unions and policy, as well as their influence on business.

Labor Pains: The Labor Movement in the United States

By engaging in this inquiry-based activity, students will a) have a deeper understanding of the early organized labor movement in the United States; b) identify possible causes of union unrest; c) use primary sources to understand context and history.

Strikes in the Business Sector

This lesson introduces students to the mechanics of a labor strike, as well as its causes and effects. Students will explore the interconnectedness of labor unions and policy, as well as their influence on business.

Will They or Won’t They? Teacher Strike

This lesson introduces students to the mechanics of a labor strike, as well as its causes and effects. Students will explore the interconnectedness of labor unions and policy, as well as their influence on business.

VIII. Technology and Information Management

The Business of Education: Online Learning in Developing Countries

The goal of this lesson is for students to consider the economic benefits of online learning in the global marketplace.

Vampire Marketing’s “Stake” in the Teenage Demographic

With the increasing popularity of social networking groups, especially among teenagers, word has gotten out about the legendary subject of vampires — as noted in an article titled, Vampires: It’s a Bloody – and Booming – Business, on the Knowledge@Wharton High School website. The article and the accompanying links provide a strong foundation for introducing marketing research concepts to my class. The vampire business has not only captured the teenage market at the movie theaters, but has created a growing love of literature around the topic. This lesson provides a foundation for discussion on the importance of marketing and market research to business success.

IX. Industry Analysis

SWOT (Strengths, Weaknesses, Opportunities, Threats)

Over the course of this unit, students have begun to think about investing in terms of portfolio management (i.e. as a balance of risk/return among multiple investment opportunities). This lesson continues that discussion by looking at specific investing choices. Why might we invest in one company and not another? Throughout the lesson, students will learn how to evaluate companies, industries and products using a SWOT (strengths, weaknesses, opportunities and threats) analysis.

The Company Income Statement

This lesson delves into financial documents. In particular, the lesson focuses on the income statement. Students will learn the definition of an income statement (and its component parts). Students will learn to read and decode an actual income statement from a 10-K filing. Finally, students will use income statements to reason about the well being of individual companies.

X. Financial Decision Making

Money in the Bank: Your Best Interest 2

This lesson introduces students to the concept of interest in personal finance.

XI. Operations Management

Sources: Labor Unions in the Garment Industry

In this lesson, students will understand the significance of labor unions in a highly unregulated industry. They will also learn about conditions in sweatshops and brainstorm solutions for poor working conditions in the garment industry. Students will view a portion of the documentary “Made in LA” to consider workers’ perspectives.

XII. Global Perspective

Kiva: A Helping Hand

This lesson introduces students to the loan program, Kiva, and describes its impact on international communities.

Life’s a Beach: Tourism in Developing Countries

In this lesson, students will learn the economic advantages and disadvantages of tourism in developing nations.

The Business of Education: Online Learning in Developing Countries

The goal of this lesson is for students to consider the economic benefits of online learning in the global marketplace.

Marketing

I. Foundations of Marketing

Brand Equity

This lesson continues the lesson on brands, branding and brand strategies to now highlight the concept of brand equity. Building on earlier concepts, students analyze the various elements that constitute brand equity. According to the Knowledge@Wharton High School glossary: Brand equity refers to the marketing of facts that are uniquely attributable to the brand. In particular, brand equity captures the outcomes, including how aware consumers are of the product, how much they like it, how committed they are to it, and how much they’re willing to pay for it, that result from a product’s name. From the general concept of branding (ideas, emotions attached to a distinct identity, name, logo), we now move to specific expectations from branding — name recognition, market share, sales, etc. In today’s competitive world the leverage a brand offers a product is tangible and extremely valuable for marketing departments.

Brand Promotion

It is not just products or services that use promotional campaigns; brands too design and implement promotional campaigns. Building on the earlier lessons of branding, brand strategy and brand equity, brand promotions comes as a logical extension. If branding is a powerful tool to position, target and market an identity, it is only natural that this identity be promoted and leveraged to increase product sales. Additionally, this lesson orients students towards the subtle differences and overlaps between brand promotion and product promotions.

In this lesson, students begin by watching the Dove evolution video. This commercial was part of the successful campaign for real beauty designed and implemented by Dove in response to the falling sales of Dove products. Using the video, components of a successful brand promotional campaign are analyzed.

Brand Strategy

Brand strategy is an extension of branding. It is how companies communicate the ideas associated with a brand to their target customers. To do this, brands use market segmentation and targeted communication in order to trigger social identification cues that lead target segments to identify with a brand. Needless to say, this lesson can be connected to, among other lessons, market segmentation and the marketing mix. In this lesson, the objective is for students to critically analyze their social identifications and understand how marketing affects their individual lives.

Brands — Project

In this lesson, students apply all the concepts that they have learned in the brands module. They will conduct an exhaustive analysis of a brand of their choice.

Consumer Behavior Lesson 1: Shopping with “Pretty Woman”

Consumer Behavior is often referred to as the psychology of marketing, and is an integral part of all marketing decisions. Since marketing itself is customer oriented, it makes sense to understand the motivations and behaviors of customers while designing a marketing strategy. What factors affect an individual’s purchase decision? What does the buying process look like? These are some of the questions this module examines. This is the introductory lesson in this module, and it gives an overview of the study of consumer behavior.

In this introductory lesson, I chose to open with a video clip from the Hollywood film Pretty Woman, and present a particular shopping sequence for analysis (the scene where Julia Roberts (Vivian in the film) goes shopping with Richard Gere (Edward). I use this concrete example to explore some of the questions raised earlier. This lends itself to an examination of personal shopping behaviors and typical experiences of the students, in later lessons.

Consumer Behavior Lesson 2: The Buying Process

Understanding the actual buying process of customers informs marketing decisions significantly. The proliferation of guarantees for high-expense products is an excellent example of how knowledge about the buying process has crept into marketing strategies. While marketing textbooks talk about the classical buying process (beginning with a need, then proceeding to information search and evaluation of alternatives, finally leading to the purchase and post-purchase behavior), this lesson also explores the impact of marketing on the buying process and its ability to truncate the more classical process.

Consumer Behavior Lesson 3: Segmentation and Maslow’s Hierarchy of Needs

The hierarchy of needs is a psychological theory proposed by Abraham Maslow and it has been influential across disciplines. In this lesson, we examine the usefulness of this theoretical framework from a marketing perspective. The Knowledge@Wharton article: “How Did Nokia Succeed in the Indian Mobile Market, While Its Rivals Got Hung Up?” gives an example of how one phone company did exactly that — break up a faceless crowd, segment them into groups with similar needs, develop products for segments, and market them to each segment. To apply this principle in greater depth, the class is divided into groups and asked to segment their target market for a product of their choice and develop a marketing plan for one or more segments of their market. The students then present these plans to their peers.

Consumer Behavior Project

According to Hawkins and Mothersbaugh (2007), all marketing decisions are based on assumptions and knowledge of consumer behavior. Understanding the motivations and behaviors of the consumers is a vital aspect of any marketing plan or strategy. In this concluding lesson, students build on concepts from previous lessons to plan, execute and reflect on a project on consumer behavior. For this project, they are asked to prepare and survey their peers in the class for their perceptions and behaviors around a particular product. This is then compared to an analysis of the marketing strategies of this product to arrive at some general observations.

Factors Affecting Purchasing Behavior

Why do we buy what we buy, and not something else? What factors influence our purchase decisions? In this lesson, students are encouraged to critically examine the myriad factors that influence their purchases. Moving from the perspective of the customer to the marketer, the students use this analysis to design a marketing plan for a product. Throughout the lesson, students engage in critical analysis, teamwork and problem solving.

Foundations of Marketing: Who’s Your Competition?

This is a two-part lesson on competition analysis. In this lesson, students conduct a competitor analysis in order to design an informed marketing strategy. Using the case study from the Knowledge@Wharton article, students identify matrices useful for analyzing market competition. Using the concepts explained in the article, students analyze the market competition for a product of their choice and design a new product for the same market.

Innovative Ideas Come from Need

In this lesson, students will read and analyze informational text comparing and contrasting themes and ideas. Students will learn about innovation and where innovative ideas come from. Students will research and report on innovative businesses.

Let’s Play a Game! (Competition Strategy — Lesson 2)

In the second part of the competition lesson, students are introduced to a simulated market situation where they compete with others to sell the maximum number of units of a product. The resultant behavior is analyzed to understand how companies deal with competition, and ideally, how they should.

Market Segmentation

Students are introduced to the concept of market segmentation and its relevance for marketing. Analyzing and understanding a market is essential to all marketing activities, including product development, pricing, promotions and product placement. The lesson begins with a student activity that the students use to identify the market segments they belong to. This aligns their experiences and prior knowledge with marketing terms and helps understand the basic concepts. External resources, in the form of the handout and Knowledge@Wharton article, give a range of examples on how companies and brands have positioned and marketed their products to particular consumer segments. The concepts are further linked to later topics like the marketing mix and consumer behavior.

Marketing Mix Lesson 1: Product Design

According to Hawkins and Mothersbaugh (2007), all marketing decisions are based on assumptions and knowledge of consumer behavior. Understanding the motivations and behaviors of the consumers is thus a vital aspect of any marketing plan or strategy. In this concluding lesson, students build on concepts from previous lessons to plan, execute and reflect on a project on consumer behavior. For this project, they are asked to prepare and survey their peers in the class for their perceptions and behaviors around a particular product. This is then compared to an analysis of the marketing strategies of this product to arrive at some general observations. The Knowledge@Wharton article provides some basic resources for survey preparation. Other aspects are discussed and resolved in class.

Marketing Mix Lesson 2: What’s the Right Price?

At what price should I sell my product? What perception of value does my price communicate to my potential customer? These are questions that must be carefully considered in any marketing strategy. This lesson introduces concepts about pricing and analyzes commonly used pricing strategies in market situations. The lesson begins with a shopping activity that places students in the role of the customer and facilitates analysis of consumer behavior as a response to pricing strategies. Students also learn to critically examine their own “shopping” behavior.

Marketing Mix Lesson 3: Where Should You Sell?

The channel of distribution or the place where the product should be made available is an important and strategic marketing decision. Commonly referred to as Place — one of the four Ps of the Marketing Mix, it signifies and communicates the positioning of the product and its intended target market. This lesson focuses on some of the fundamental concepts related to placing strategies.

Marketing Mix Lesson 5: Promotions

Marketing is often confused with some of its more visible elements like advertising or selling. In this lesson, we look at one such high-visibility element —Promotions. In this lesson students are given an overview of promotional strategies, and introduced to the various elements of the promotional mix — both above the line and below the line. Students will analyze the promotional strategies of products, compare it with brand promotional strategies, and finally design a promotional strategy for a product of their choice.

Marketing Mix Overview: What’s the Right Mix?

The “4Ps” is a fundamental marketing concept that forms an integral part of any marketing plan. These form the marketing mix, and varying proportions of these elements form the core of any marketing strategy. This overview lesson introduces the 4Ps — Product, Place, Price and Promotion, and explores the interrelatedness of the different elements.

Marketing Plan Lesson 1: What’s My Market?

In this module, students integrate various marketing concepts to design a detailed marketing plan of their own. In this lesson, students begin their projects by analyzing the market, using the resources available at the Knowledge@Wharton or the Knowledge@Wharton High School sites. Students use the articles to identify how successful companies have analyzed their markets, and what they predict for the market. As they analyze the articles, students will also be compiling rich data pools for their own market analysis.
For example, if students analyze how Panera, a restaurant chain, successfully identified a niche market, they will also be asked to think about what market segments they can identify for their plans. Students will use this analysis to identify their customer segments and begin to think about what unique and valuable product/service they can offer to their customers. The product design will be done in the class that follows.

Marketing Plan Lesson 2: The Marketing Mix

In this module, students integrate marketing concepts to design detailed marketing plans of their own. In this lesson, students design the marketing mix based on the market analysis they conducted in the previous class. Students will design a product, a pricing strategy, the place of availability and a promotional strategy along the phases of a product life cycle.

Marketing Plan Lesson 3: Let’s Hear Your Plan

In this module, students present their marketing plans to their peers. The reason why I chose to have the presentation in the penultimate lesson is so that students understand the importance of integrating feedback and revision. Making a plan work requires constant assessment and revision; I felt incorporating that principle into the structure of the module would be the best way to emphasize this belief.

Marketing Plan Lesson 4: Revise, Revise, Revise

In this lesson, students identify areas of their marketing plans that need revision, incorporate feedback and add anticipatory troubleshooters. This is the final lesson in this module and here students will revise their marketing plans and critically reflect on their process of planning.

Marketing: A Historical Perspective

This lesson introduces the various marketing orientations and explores the history of marketing through a personal history format. The basic assumption made in this lesson is that students already know these concepts, in some form, from their family histories. The challenge then is to identify such experiences and clarify them from a marketing perspective. To do so, this lesson begins by asking students to record the socio-cultural-economic histories of their families in a simple personal format (For example, the teacher touches on her details growing up in India). From these histories, we explore the history of marketing.

Societal Marketing

Societal Marketing is the new epoch of marketing and we increasingly understand its importance. Marketing is not just about customers and profits any more, it is also about ethics, sustainability and about building a better society for all of us. This lesson focuses on the societal marketing orientation that was introduced and briefly explored in the last lesson. The current debate and lawsuits against McDonald’s are used in this lesson.

The Product Life Cycle

In many marketing-related concepts, the idea of a product life cycle creeps in occasionally. How does a marketing plan evolve from the often high profile product launch, to support sales growth and maturity? How is the concept of the Product Life Cycle (PLC) useful for marketing? These are the core questions of this lesson. The lesson introduces the concept of the Product Life Cycle and familiarizes students with how this concept impacts the marketing mix. The lesson begins with the Apple iPhone commercial, a smartphone that was introduced in the market in 2007. The class then analyzes the iPhone’s Product Life Cycle. While the limitations and variations are noted, students are also asked to consider how the concept of the Product Life Cycle can be useful while designing the marketing strategy, particularly the 4Ps.

What Is Your Brand?

This lesson introduces the concept of “brand” as a distinctive identity that evokes certain thoughts and feelings. While this concept is particularly useful for marketing, brand or branding is not unique to marketing. Tiger Woods is a brand, so is President Obama, as is the United States of America. Each of these names signifies distinct feelings, ideas and associations all over the world. For marketing, the importance of branding lies in the ability to streamline efforts to reach the customer and to increase profits. In this lesson, students begin by presenting a personal brand. Students then analyze their perception of the brand, and how that perception was created.

You Are Your Brand

This lesson will teach students about the concept of a personal brand, as well as encourage them to develop their own. Students will begin by reading an article to spark discussion about how they develop their personal brands and how it affects their leadership styles. Then they will think about and develop their own personal leadership style by writing about what they would like someone to say in a speech if they were to give them a lifetime achievement award for excellence in leadership. Students will ultimately understand their current personal brand, as well as how they would like it to develop as they grow and mature.

II. Consumers and Their Behavior

A Kinder Entrepreneur for Global Business: Putting Yourself in the Shoes of Others

Students will begin this lesson by reading the article, “Why Global Business Needs Kinder, Gentler Entrepreneurs and Leaders.” After a short discussion on the article, students will watch brief travel videos on a select number of countries and then choose one of those countries around which to create a travel- related business.

Consumer Behavior Lesson 1: Shopping with “Pretty Woman”

Consumer Behavior is often referred to as the psychology of marketing, and is an integral part of all marketing decisions. Since marketing itself is customer oriented, it makes sense to understand the motivations and behaviors of customers while designing a marketing strategy. What factors affect an individual’s purchase decision? What does the buying process look like? These are some of the questions this module examines. This is the introductory lesson in this module, and it gives an overview of the study of consumer behavior.

In this introductory lesson, I chose to open with a video clip from the Hollywood film Pretty Woman, and present a particular shopping sequence for analysis (the scene where Julia Roberts (Vivian in the film) goes shopping with Richard Gere (Edward). I use this concrete example to explore some of the questions raised earlier. This lends itself to an examination of personal shopping behaviors and typical experiences of the students, in later lessons.

Consumer Behavior Lesson 2: The Buying Process

Understanding the actual buying process of customers informs marketing decisions significantly. The proliferation of guarantees for high-expense products is an excellent example of how knowledge about the buying process has crept into marketing strategies. While marketing textbooks talk about the classical buying process (beginning with a need, then proceeding to information search and evaluation of alternatives, finally leading to the purchase and post-purchase behavior), this lesson also explores the impact of marketing on the buying process and its ability to truncate the more classical process.

Consumer Behavior Lesson 3: Segmentation and Maslow’s Hierarchy of Needs

The hierarchy of needs is a psychological theory proposed by Abraham Maslow and it has been influential across disciplines. In this lesson, we examine the usefulness of this theoretical framework from a marketing perspective. The Knowledge@Wharton article: “How Did Nokia Succeed in the Indian Mobile Market, While Its Rivals Got Hung Up?” gives an example of how one phone company did exactly that — break up a faceless crowd, segment them into groups with similar needs, develop products for segments, and market them to each segment. To apply this principle in greater depth, the class is divided into groups and asked to segment their target market for a product of their choice and develop a marketing plan for one or more segments of their market. The students then present these plans to their peers.

Consumer Behavior Project

According to Hawkins and Mothersbaugh (2007), all marketing decisions are based on assumptions and knowledge of consumer behavior. Understanding the motivations and behaviors of the consumers is a vital aspect of any marketing plan or strategy. In this concluding lesson, students build on concepts from previous lessons to plan, execute and reflect on a project on consumer behavior. For this project, they are asked to prepare and survey their peers in the class for their perceptions and behaviors around a particular product. This is then compared to an analysis of the marketing strategies of this product to arrive at some general observations.

Factors Affecting Purchasing Behavior

Why do we buy what we buy, and not something else? What factors influence our purchase decisions? In this lesson, students are encouraged to critically examine the myriad factors that influence their purchases. Moving from the perspective of the customer to the marketer, the students use this analysis to design a marketing plan for a product. Throughout the lesson, students engage in critical analysis, teamwork and problem solving.

Foundations of Marketing: Who’s Your Competition?

This is a two-part lesson on competition analysis. In this lesson, students conduct a competitor analysis in order to design an informed marketing strategy. Using the case study from the Knowledge@Wharton article, students identify matrices useful for analyzing market competition. Using the concepts explained in the article, students analyze the market competition for a product of their choice and design a new product for the same market.

Let’s Play a Game! (Competition Strategy — Lesson 2)

In the second part of the competition lesson, students are introduced to a simulated market situation where they compete with others to sell the maximum number of units of a product. The resultant behavior is analyzed to understand how companies deal with competition, and ideally, how they should.

Market Segmentation

Students are introduced to the concept of market segmentation and its relevance for marketing. Analyzing and understanding a market is essential to all marketing activities, including product development, pricing, promotions and product placement. The lesson begins with a student activity that the students use to identify the market segments they belong to. This aligns their experiences and prior knowledge with marketing terms and helps understand the basic concepts. External resources, in the form of the handout and Knowledge@Wharton article, give a range of examples on how companies and brands have positioned and marketed their products to particular consumer segments. The concepts are further linked to later topics like the marketing mix and consumer behavior.

Marketing Plan Lesson 1: What’s My Market?

In this module, students integrate various marketing concepts to design a detailed marketing plan of their own. In this lesson, students begin their projects by analyzing the market, using the resources available at the Knowledge@Wharton or the Knowledge@Wharton High School sites. Students use the articles to identify how successful companies have analyzed their markets, and what they predict for the market. As they analyze the articles, students will also be compiling rich data pools for their own market analysis.
For example, if students analyze how Panera, a restaurant chain, successfully identified a niche market, they will also be asked to think about what market segments they can identify for their plans. Students will use this analysis to identify their customer segments and begin to think about what unique and valuable product/service they can offer to their customers. The product design will be done in the class that follows.

Marketing Plan Lesson 2: The Marketing Mix

In this module, students integrate marketing concepts to design detailed marketing plans of their own. In this lesson, students design the marketing mix based on the market analysis they conducted in the previous class. Students will design a product, a pricing strategy, the place of availability and a promotional strategy along the phases of a product life cycle.

Marketing Plan Lesson 3: Let’s Hear Your Plan

In this module, students present their marketing plans to their peers. The reason why I chose to have the presentation in the penultimate lesson is so that students understand the importance of integrating feedback and revision. Making a plan work requires constant assessment and revision; I felt incorporating that principle into the structure of the module would be the best way to emphasize this belief.

Marketing Plan Lesson 4: Revise, Revise, Revise

In this lesson, students identify areas of their marketing plans that need revision, incorporate feedback and add anticipatory troubleshooters. This is the final lesson in this module and here students will revise their marketing plans and critically reflect on their process of planning.

Promotional Mix Lesson 4: Direct Mail

In this lesson, we come to the last element of the promotional mix — direct advertising mail. Unlike the other promotional avenues (advertising, publicity, sponsorship, etc.), direct mail is perhaps an undesirable or inefficiently used tool. However, some companies seem to have mastered the art of using this tool effectively. The Knowledge@Wharton article gives a comprehensive picture of what works, when and why in direct advertising. Building on the varied perspectives, students then re-design the direct marketing strategy of a company they have experience interacting with.

III. External Factors

Around the World in 80 Seconds (External Factors — Lesson 1)

As more and more companies are faced with the question of going global, what does global marketing really mean? What are the challenges of going global? How have some companies excelled at tackling these challenges? This lesson explores these questions, and examines concepts like globalization and global marketing.

Promotional Mix Lesson 4: Direct Mail

In this lesson, we come to the last element of the promotional mix — direct advertising mail. Unlike the other promotional avenues (advertising, publicity, sponsorship, etc.), direct mail is perhaps an undesirable or inefficiently used tool. However, some companies seem to have mastered the art of using this tool effectively. The Knowledge@Wharton article gives a comprehensive picture of what works, when and why in direct advertising. Building on the varied perspectives, students then re-design the direct marketing strategy of a company they have experience interacting with.

IV. The Marketing Mix

Marketing Mix Lesson 1: Product Design

According to Hawkins and Mothersbaugh (2007), all marketing decisions are based on assumptions and knowledge of consumer behavior. Understanding the motivations and behaviors of the consumers is thus a vital aspect of any marketing plan or strategy. In this concluding lesson, students build on concepts from previous lessons to plan, execute and reflect on a project on consumer behavior. For this project, they are asked to prepare and survey their peers in the class for their perceptions and behaviors around a particular product. This is then compared to an analysis of the marketing strategies of this product to arrive at some general observations. The Knowledge@Wharton article provides some basic resources for survey preparation. Other aspects are discussed and resolved in class.

Marketing Mix Lesson 2: What’s the Right Price?

At what price should I sell my product? What perception of value does my price communicate to my potential customer? These are questions that must be carefully considered in any marketing strategy. This lesson introduces concepts about pricing and analyzes commonly used pricing strategies in market situations. The lesson begins with a shopping activity that places students in the role of the customer and facilitates analysis of consumer behavior as a response to pricing strategies. Students also learn to critically examine their own “shopping” behavior.

Marketing Mix Lesson 3: Where Should You Sell?

The channel of distribution or the place where the product should be made available is an important and strategic marketing decision. Commonly referred to as Place — one of the four Ps of the Marketing Mix, it signifies and communicates the positioning of the product and its intended target market. This lesson focuses on some of the fundamental concepts related to placing strategies.

Marketing Mix Lesson 5: Promotions

Marketing is often confused with some of its more visible elements like advertising or selling. In this lesson, we look at one such high-visibility element —Promotions. In this lesson students are given an overview of promotional strategies, and introduced to the various elements of the promotional mix — both above the line and below the line. Students will analyze the promotional strategies of products, compare it with brand promotional strategies, and finally design a promotional strategy for a product of their choice.

Marketing Mix Overview: What’s the Right Mix?

The “4Ps” is a fundamental marketing concept that forms an integral part of any marketing plan. These form the marketing mix, and varying proportions of these elements form the core of any marketing strategy. This overview lesson introduces the 4Ps — Product, Place, Price and Promotion, and explores the interrelatedness of the different elements.

Marketing Mix Project

The Marketing Mix is a vital concept in marketing and one that forms the core of any marketing plan. In this concluding project lesson, students integrate concepts from all the previous lessons in the module. Students will begin with analyzing the Marketing Mix for any of the products referenced in the Knowledge@Wharton article, and then design a marketing strategy for a related product. Though this lesson is designed as an in-class project, it can also be conducted as a take-home project.

Marketing Plan Lesson 2: The Marketing Mix

In this module, students integrate marketing concepts to design detailed marketing plans of their own. In this lesson, students design the marketing mix based on the market analysis they conducted in the previous class. Students will design a product, a pricing strategy, the place of availability and a promotional strategy along the phases of a product life cycle.

Marketing Plan Lesson 4: Revise, Revise, Revise

In this lesson, students identify areas of their marketing plans that need revision, incorporate feedback and add anticipatory troubleshooters. This is the final lesson in this module and here students will revise their marketing plans and critically reflect on their process of planning.

Promotional Mix Lesson 1: Advertising

In the overview lesson on promotions, we looked at the various elements that form the promotional mix of a marketing plan. In this lesson, we focus on advertising. Advertising is a very visible element of the promotional strategy for both brands and products. We are constantly exposed to advertisements in multiple mediums — television, Internet, print, billboards, banners, etc. In this lesson we analyze the objectives and effects of advertising from a marketing perspective. The effect of brand advertising on product advertising is also examined. While doing this, it seems fitting to also scrutinize the ethical concerns involved in “embellishments”. Furthermore, the impact of advertising is linked to customer segmentation, social identification and the entire marketing process.

Promotional Mix Lesson 2: Sponsorship and Publicity

Marketing professionals have long used below the line promotions to augment customer awareness, knowledge, liking, preference and sales of products and brands. Unlike advertising (which customers know is directly trying to influence their purchase decisions), sponsorship and publicity work subtly, and sometimes even more powerfully than advertising. Newspaper articles, TV talk show spots, write-ups and placed testimonials create a supplementary communication chain that seems to provide authentic, objective information. In this lesson, sponsorship and publicity are analyzed as two elements of the promotional mix.

Promotional Mix Lesson 3: It’s a Big Sale!

Sales promotions are widely used as a promotional tool. In this lesson, we analyze the usefulness of sales promotions for the promotional mix, and for marketing in general. Sales promotions are of course also linked to pricing, and the product life cycle. While the lesson begins by tapping on the experiential knowledge of the students, it later introduces them to more sophisticated and specialized sales promotional strategies. Eventually, all the elements are tied to a larger marketing perspective.

Promotional Mix Lesson 4: Direct Mail

In this lesson, we come to the last element of the promotional mix — direct advertising mail. Unlike the other promotional avenues (advertising, publicity, sponsorship, etc.), direct mail is perhaps an undesirable or inefficiently used tool. However, some companies seem to have mastered the art of using this tool effectively. The Knowledge@Wharton article gives a comprehensive picture of what works, when and why in direct advertising. Building on the varied perspectives, students then re-design the direct marketing strategy of a company they have experience interacting with.

Promotional Mix Lesson 5: Promotional Mix Project

This is the final lesson in this module, and it brings together all the elements of the promotional mix discussed in previous lessons in the form of a project.

The 7Ps (Marketing Mix — Lesson 8)

The “7Ps” is the extended version of the traditional Marketing Mix that integrates the particular needs of the service industry. The traditional mix includes Product, Price, Place and Promotion. The “7Ps” adds People, Process and Physical Evidence to this mix. For example, a restaurant has to take into account the staff that interacts with the customers, the ambience of the restaurant and the efficiency of serving, along with managing the food, the prices, the location and the promotional strategies. This lesson unpacks the extended marketing mix for the service industry.

V. Marketing Research

Marketing Research Lesson 1

Access to accurate information for making marketing decisions is essential. In this lesson, students are introduced to the basic concepts of marketing research. While marketing research can be an entire course by itself, the basic quality of curiosity and desire for accurate information drives the different methodologies. The Knowledge@Wharton articles present two interesting themes within this first lesson — the kinds of data marketing researchers have access to and use, and the problem of information overload. This lesson will be conducted in two parts.

Marketing Research Lesson 2

Access to accurate information for making marketing decisions is essential. In this lesson, students are introduced to the basic concepts of marketing research. While marketing research can be an entire course by itself, the basic quality of curiosity and desire for accurate information drives the different methodologies. The Knowledge@Wharton articles present two interesting themes within this first lesson — the kinds of data marketing researchers have access to and use, and the problem of information overload. This lesson is conducted in two parts. This is the second and concluding lesson and there is no additional project for this module.

VI. The Marketing Plan

Marketing Plan Lesson 1: What’s My Market?

In this module, students integrate various marketing concepts to design a detailed marketing plan of their own. In this lesson, students begin their projects by analyzing the market, using the resources available at the Knowledge@Wharton or the Knowledge@Wharton High School sites. Students use the articles to identify how successful companies have analyzed their markets, and what they predict for the market. As they analyze the articles, students will also be compiling rich data pools for their own market analysis.
For example, if students analyze how Panera, a restaurant chain, successfully identified a niche market, they will also be asked to think about what market segments they can identify for their plans. Students will use this analysis to identify their customer segments and begin to think about what unique and valuable product/service they can offer to their customers. The product design will be done in the class that follows.

Marketing Plan Lesson 3: Let’s Hear Your Plan

In this module, students present their marketing plans to their peers. The reason why I chose to have the presentation in the penultimate lesson is so that students understand the importance of integrating feedback and revision. Making a plan work requires constant assessment and revision; I felt incorporating that principle into the structure of the module would be the best way to emphasize this belief.

Personal Finance

I. Personal Decision Making

‘SMART’ Financial Goal-setting

TOPIC/COMPETENCY: Standard: Spending & Saving – Goal setting strategies [i.e. S.M.A.R.T.], integrating personal values, experiences vs. possessions research CEE National Standard: II Buying Goods and Services, Standard 7 [Grade 4] Jump$tart National Standard: Spending & Saving, Standard 4. Common Core State Standard:                           […]

Advantages and Pitfalls of Using Cash and Prepaid Cards

TOPIC/COMPETENCY: Spending and Saving Jump$tart National Standard: Planning and Money Management, Standard 3 LESSON TITLE: Advantages and Pitfalls of Using Cash and Prepaid Cards ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device, projector to display the Kahoot quiz, guided notes KEY VOCABULARY/TERMS: cash budget, prepaid cards, closed-system prepaid card, open-system prepaid card, gift […]

Alternative Choices — Understanding Opportunity Costs

This lesson introduces students to the concept of opportunity costs. Using the Knowledge@Wharton High School article “How Much Did You Spend on Prom?” students will think about the value of mutually exclusive decisions. Students will examine their own utility as it relates to prom expenditures, listing the costs and benefits of multiple decisions.

At The Margins: What Is Something Worth to You?

In this lesson, we will introduce students to several fundamental concepts, including: utility, choice, marginal cost and marginal benefit. Using the article “Christopher Bolden-Newsome: The Fight for Food Justice,” we will look at how economists understand individual choices. In particular, students will think about costs and benefits from the perspective of a local farmer’s market.

Avoiding Common Bank Fees

JUMP$TART NATIONAL STANDARD: Financial Decision Making, Standard 6 CEE NATIONAL STANDARD: Buying Goods and Services, Standard 3 (Benchmark 8) COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.9-10.9 CONTENT STATEMENT: Students will compare common banking fees and select the financial institution with fees minimal to their own financial situation. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: “Your Guide To Preventing […]

Balance Sheet

This lesson focuses primarily on the balance sheet. Students will learn the definition of a balance sheet (and its component parts). Students will learn to read and decode an actual balance sheet from a 10-K filing. Finally, students will use balance sheets to reason about the well being of individual companies.

Bounded Rationality–Everyone Makes Mistakes

In this lesson, we will look at the role of cognitive biases in economic theory. Students will think about the concept of bounded rationality, looking specifically at their own heuristics and intuitions. In particular, we will look at confirmation bias, framing, anchoring and egocentrism.

Bringing It All Together: Using the concepts of scarcity, utility, opportunity costs and risk to manage a car dealership

In this lesson, students will demonstrate their knowledge of scarcity, utility, opportunity costs and risk, by taking on the role of manager at a fictional car dealership. After reading the article “The Hard Sell: How to Market Products That Are No Longer Popular,” students will be given a specific dealership scenario. Based on their unique scenario, students will think about potential customers, their preferences and the risks of conducting business.

Budgeting for College Life

In this lesson, students will put together a budget for how much college will cost. They will consider how costs can vary depending on the decisions you make and then think about how they could possibly finance their college plans, based on the previous lesson. They will also write a short reflection piece at the end of the lesson to reflect on the unit as a whole, but particularly on the process of making a college budget.

Buying and Leasing Cars

In this lesson, students are asked to reflect on their decision-making process when thinking of getting their first car. Through this lesson, students become more aware of the decision-making process they currently use to make purchasing decisions, and how they can incorporate a more rational decision-making process when making a large purchase, in this case a car. They will also think about the responsibilities that come with a car such as buying insurance and gas, but these factors will be expanded in the other lessons of the unit.

Common Cents: A Lesson about Getting Banked or Staying Unbanked

TOPIC/COMPETENCY: Standard: Describe How to Use Different Payment Methods Common fees associated with banking [overdraft fees, NSF fees, minimum balance fees, ACH; avoiding check to cash] CEE National Standard: II Buying Goods and Services, Standard 7 [Grade 4] Jump$tart National Standard: Spending & Saving, Standard 3. Common Core State Standard: CCSS.ELA-LITERACY.W.910.7 LESSON TITLE: “Common Cents: […]

Comparing Auto Loans

JUMP$TART NATIONAL STANDARD: Credit and Debt, Standard 1 and 2 CEE NATIONAL STANDARD: Using Credit, Standards 1-5 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will experience the practice of comparison shopping automobile loans. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet, Projector, Automobile Loan Shopping Guide (Included), Automobile Loan Shopping Guide Master (Included) KEY VOCABULARY/TERMS: […]

Comparing Job Offers: Should I Stay or Should I Go?

In this lesson, students will analyze and evaluate a variety of factors that are often used to compare job offers, including the cost-of-living index.

Comparing Student Loans

In this lesson, students explore different types of student loans and figure out which loans might be best for them. They will also create an infographic to help other teenagers learn about student loan options and how to select the best one.

Comparison Shopping Big-ticket Items

JUMP$TART NATIONAL STANDARD: Financial Decision Making, Standard 4 CEE NATIONAL STANDARD: Buying Goods and Services, Standard 5 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will experience strategies used in retails sales and learn consumer strategies that can be applied prior to making a purchasing decision. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Participation Reflection Sheet_(included); […]

Consumerism and Scarcity

JUMP$TART NATIONAL STANDARD: Financial Decision Making, Standard 4 CEE NATIONAL STANDARD: Buying Goods and Services, Standard 5 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will experience the impact time and money scarcity have on decision making ESTIMATED TIME: 50-100 minutes MATERIALS NEEDED: Projector; Family Feud Powerpoint (included); No Money No Time – The New York […]

Emotional vs. Rational Brain

JUMP$TART NATIONAL STANDARD: Financial Decision Making, Standard 4 CEE NATIONAL STANDARD: Buying Goods and Services, Standard 5 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will experience how emotions unrelated to the decision at hand can trigger the “emotional brain” to make decisions that should be made by the “rational brain”. ESTIMATED TIME: 50 minutes […]

Financial Decision-making: Car Ownership

TOPIC/COMPETENCY:  Financial Decision Making: Criterion-based financial decision making practices CEE National Standard: II Buying Goods and Services, Standard 3, Grade 12 Benchmark Jump$tart National Standard: Financial Decision Making: Standard 4:  Make criterion-based financial decisions by systematically considering alternatives and consequences Common Core State Standard: CCSS.ELA-LITERACY.W.9-10.2 CCSS.ELA-LITERACY.W.9-10.4   LEARNING OBJECTIVE: Students will apply the five (5) […]

Financial Planning for Jane

This lesson focuses on the task of budgeting. The students will work in groups to design a budget for “Jane,” a fictional character who has hired them to be her personal finance consultants.

Fringe Banking and Predatory Lenders

In this lesson, students will learn about unscrupulous companies operating in the world of fringe banking and predatory lending. These companies take advantage of those who have little or no credit, who are unbanked or underbanked, or who are desperate. Learn to recognize these companies so that you don’t become a victim!

Game Theory–Strategies and Payoffs

In this lesson, students will learn about game theory. In particular, students will think about the standard prisoner’s dilemma as it relates to routine business decisions. Students will compare and contrast one-time games and repeated games, looking at the incentives for cooperation in both. After reading the Knowledge@Wharton article,”Forecasting in Conflicts: How to Predict What Your Opponent Will Do,” students will think about game theory in personal decision making by playing a short game.

How to Minimize Student Loan Debt

JUMP$TART NATIONAL STANDARD: Credit and Debt, Standard 1 CEE NATIONAL STANDARD: Using Credit, Standards 1, 3 and 8 COMMON CORE STATE STANDARD: CCSS.ELA-Literacy.RST.9-10.4 CCSS.ELA-Literacy.RST.11-12.2 CONTENT STATEMENT: Students will investigate strategies and resources to minimize student loan debt. ESTIMATED TIME: 100 minutes MATERIALS NEEDED: Projector; Student computers with Internet; College Grad Budget Template (Included); How to Minimize […]

Identity Theft

TOPIC/COMPETENCY: Financial Decision Making CEE National Standard: VI Protecting and Insuring Jump$tart National Standard: Financial Responsibility and Decision Making Standard 6. Control personal information Common Core State Standard: CCSS.ELA-Literacy.RST.9-10.4 CCSS.ELA-Literacy.RST.11-12.2 ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device, video activity worksheet 1 and worksheet 2; complaint and affadavit KEY VOCABULARY/TERMS: identity theft, credit […]

Investing: The Power of Compound Interest

In this lesson, students learn the concept of “Pay yourself first” and explore ways to develop this habit to take advantage of the power of compound interest.

Jobs and Money Lesson 1: The New Job Market

This lesson introduces students to the idea of a changing job market and the attitudes that may best serve them in the coming years. They work as a class to understand the importance of thinking about the job market as changing and dynamic. They also use the rational decision-making process as a framework to think about job possibilities in the next five-to-10 years.

Jobs and Money Lesson 3: What’s Yours and What’s Not: Paychecks and Deductions

In this lesson, students will analyze a pay stub and think about how net income and gross income can fluctuate. The primary purpose is to think about which deductions are voluntary, which are involuntary and why. The second purpose will be to get them to use the rational decision-making process to evaluate the different retirement savings options: 401K and IRA. If the teacher wants to make the lesson more challenging, students can also think about Roth 401Ks and Roth IRAs.

Limited Resources — Thinking about Choice and Scarcity

This lesson provides a brief introduction to formal economic theory. Using the article “How the U.S. Government Has Mismanaged the Country,” students will think about limited resources from the perspective of a national government. Students will make choices about welfare programs, national defense and consumer spending. Throughout the lesson, students will think about economics as the study of choice under scarcity.

Managing Your Finances with Mobile Phones

JUMP$TART NATIONAL STANDARD: Financial Decision Making, Standards 2, 4, 8 CEE NATIONAL STANDARD: Buying Goods and Services, Standards 1, 3, 4, 5 CONTENT STATEMENT: Students will select or recommend mobile applications to use for financial management and financial decision-making. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet; Projector; Optional but recommended: Student phones; Student Review Guide […]

Money in the Bank: Getting to Your Money

The purpose of this lesson is to introduce students to the multiple features of checking accounts.

Money in the Bank: Your Best Interest

Students will calculate compound interest using the Rule of 72.

Money in the Bank: Your Best Interest 2

This lesson introduces students to the concept of interest in personal finance.

Multiple Choice — What Is My Best Alternative?

In this lesson, we will introduce students to the concept of opportunity costs. Using the article “Red Velvet Revolution: The Rise of the Cupcake Entrepreneur,” students will expand on their understanding of scarcity, looking at the value of mutually exclusive choices from a business perspective. In particular, students will think about opportunity costs from the customers’ perspective. Students will take on the role of business managers, thinking carefully about their target customers and those customers’ alternative choices.

Opportunity Costs: What is My Best Alternative?

In this lesson, we will introduce students to the concept of opportunity costs. Using the article “Olivia Mitchell on Why Young Consumers Should Just Say No to Spending,” students will compare the value of mutually exclusive choices. In particular, students will look at the relationship between post-secondary education and income in order to understand the true cost of career choices.

Portfolio Management

In this lesson, students will build on their knowledge of investments and risk by thinking about portfolio management. In particular, students will think about the relationship between risk and portfolio diversity. The lesson also introduces students to the concept of an investment lifecycle. During the lesson, students will think about how different people might be more or less attracted to different investment portfolios.

Preparing for an Automobile Accident

JUMP$TART NATIONAL STANDARD: Risk Management and Insurance, Standards 1 and 2CEE NATIONAL STANDARD: Protecting and Insuring, Standard 2, 4,-7CONTENT STATEMENT: Students will experience the financial implications of an automobile accident, and prepare what is necessary to have on hand in the event of an automobile accident. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: AutoAccidentPowerPoint (Included); Example […]

Risks and Rewards: Dealing with Uncertainty

In this lesson, we will add the concept of uncertainty to our previous discussions of utility and opportunity costs. Using the article “Driver Alert: Car Insurance Will Cost You,” students will look at how economists model risk. In particular, students will consider risk by taking on the role of a small business owner, cataloguing potential business risks and enumerating ways to manage those risks.

Risky Business — Dealing with Uncertainty

This lesson introduces students to the concept of uncertainty and risk. Using the article “What can Risk Management Do for You, Me and Argentina?” students will think about managing uncertainty in the decision-making process. In particular, students will think about their own risk-taking behavior as it applies to a simple game of chance.

Selling School — Putting It All Together

In this lesson, students will demonstrate their knowledge of scarcity, utility, and opportunity costs by thinking about the cost of college enrollment. Students will look at real data on educational attainment and income in order to calculate the opportunity cost of attending a four-year college.

Should You Buy a House?

In this lesson, students consider the financial responsibilities and emotional investments of buying a house. Although the housing market has taken a hit since 2008, owning a house is still a big part of the American dream. In this lesson, the students explore these ideas and think about buying a house by merging the rational decision-making model and the consumer decision-making model. Since a house is not just a purchase but a lifestyle change, students can think about major purchases from this perspective.

Strategies Businesses Use to Influence Buying Decisions

TOPIC/COMPETENCY: Spending and Saving CEE National Standard: II Buying Goods and Services, Standards 1, 4 Jump$tart National Standard: Planning and Money Management, Standard 4 LESSON TITLE: Strategies businesses use to influence buying decisions ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device KEY VOCABULARY/TERMS: subliminal advertising, consumer buying behavior, celebrity endorsement, celebrity advertising WHY […]

The Amazing Race

In this lesson, students will work in groups to put together a budget plan simulating the Amazing Race. They will devise a strategy for getting from Los Angeles to New York, but they will also have time to revise their plans during the lesson to think about the importance of collaborating on budgeting, emphasizing a teamwork ethos.

The Company Income Statement

This lesson delves into financial documents. In particular, the lesson focuses on the income statement. Students will learn the definition of an income statement (and its component parts). Students will learn to read and decode an actual income statement from a 10-K filing. Finally, students will use income statements to reason about the well being of individual companies.

The Good Life: Credit

This lesson introduces students to general financial literacy by learning about credit and borrowing. It is part of a series of “The Good Life” lessons, which all seek to help students identify strategies for using credit wisely, saving, spending and donating.

The Good Life: Credit and Personal Responsibility

This lesson introduces students to general financial literacy by learning about credit and borrowing. It is part of a series of “The Good Life” lessons, which all seek to help students identify strategies for using credit wisely, saving, spending and donating.

The Good Life: Your Money, Your Credit

This lesson introduces students to general financial literacy by learning about credit and borrowing. It is part of a series of “The Good Life” lessons, which all seek to help students identify strategies for using credit wisely, saving, spending and donating.

– After this lesson, students will be able to discern different types of credit.

– After this lesson, students will be able to apply the 20/10 rule to real-world situations

The Impact of Financial Problems on a Person’s Well-being

TOPIC/COMPETENCY: Credit and Debt CEE National Standard: IV Using Credit Jump$tart National Standard: Financial Responsibility and Decision Making Standard 1, Take responsibility for personal finance decisions Common Core State Standard: CCSS.ELA-Literacy.RST.9-10.4 CCSS.ELA-Literacy.RST.11-12.2 ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device KEY VOCABULARY/TERMS: financial distress, stress WHY THIS MATTERS TO YOU NOW: There will […]

Understanding Scarcity: An Introduction to Supply and Demand

This lesson is an introduction to formal Economic theory. In this lesson, students will be introduced to the concepts of supply, demand and scarcity. Using the article “Falling Behind: Working Women in Germany Grapple with Limited Child-Care Options,” students will think about the relationship between scarce resources and individual decision making. As part of this lesson, students will be introduced to supply and demand curves.

Understanding Utility: How Do We Allocate Resources?

In this lesson, we will introduce students to the concept of utility. Using the article “Baseball’s Bottom Line: The Money Behind the Game,” we will look at how economists quantify choice. In particular, students will think abstractly about measuring satisfaction, preferences, and choice.

Unlimited Preferences — Defining and Measuring Utility

This lesson introduces students to the concept of utility and marginal utility. Using the article “Behind the Scenes at Urban Outfitters” students will think about the relationship between price and utility. Students will examine their own utility as it relates to clothing and apparel, noting the difference between total utility and marginal utility.

Using Technology to Keep and Use Financial Records

TOPIC/COMPETENCY: Spending and Saving Jump$tart National Standard: Planning and Money Management, Standard 2 ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device KEY VOCABULARY/TERMS: budget, bank, income, expense, savings, smartphone banking, mobile phone banking, WHY THIS MATTERS TO YOU NOW: The earlier students start tracking their finances, the sooner they get into the habit […]

What Is Economics? A Lesson on Choice and Scarcity

This lesson provides a brief introduction to formal economic theory. Using the article “Red Velvet Revolution: The Rise of the Cupcake Entrepreneur,” students will role play as small business owners in charge of a cupcake store. Students will make choices about location, inventory, equipment and sales. Throughout the lesson, students will think about economics as the study of choice under scarcity.

What to Expect–Decision-making and Expected Value

This lesson extends the concepts of opportunity cost and risk by introducing students to expected value. Using the article “Using Scenario Planning as a Weapon Against Uncertainty?” students will think about managing uncertainty in the decision-making process. In particular, students will think about strategic “scenario planning,” and weighing the value of multiple outcomes.

WiFi, Passwords, and Phishing: Online Safety Tips

JUMP$TART NATIONAL STANDARD: Financial Decision Making, Standard 7 CEE NATIONAL STANDARD: Protecting and Insuring, Standard 14 CONTENT STATEMENT: Students will identify online safety tips they can put into practice in their everyday lives ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Each student needs a computer with Internet access; Game Play Learning Guide (included); Vocabulary Powerpoint (Included) KEY VOCABULARY/TERMS: […]

You Are How You Organize: Keeping and Using Financial Records

TOPIC/COMPETENCY:  Spending: Paper based strategies for keeping and using financial records CEE National Standard: II Buying Goods and Services, Standard 7 [Grade 4] Jump$tart National Standard: Standard 2. Develop a system for keeping and using financial records. Common Core State Standard: CCSS.ELA-LITERACY.RST.9-10.4 CCSS.ELA-LITERACY.RI.11-12.1 LESSON TITLE: “You Are How You Organize!” CONTENT STATEMENT: What factors can […]

Your Online Financial Life

TOPIC/COMPETENCY: Financial Decision Making CEE National Standard: VI Protecting and Insuring, Standard 8 [Grade 8] Jump$tart National Standard: Financial Decision Making, Standard 7: Common Core State Standard: CCSS.ELALiteracy.RI.910.1 CCSS.ELALITERACY.SL.910.5 LESSON TITLE: “Your Online Financial Life” Objective: Students will list actions an individual can take to protect personal information through online safety practices and adopting safe password […]

II. Earning and Reporting Income

Comparing Job Offers: Should I Stay or Should I Go?

In this lesson, students will analyze and evaluate a variety of factors that are often used to compare job offers, including the cost-of-living index.

Hourly vs. Salary Compensation

TOPIC/COMPETENCY: Employment and Income CEE National Standard: Standard 1 – Employment and Income – Benchmark Grade 12 – 1 Jump$tart National Standard: Employment and Income, Standard 2 Common Core State Standard: CCSS.ELA-Literacy.RI.11-12.1 CCSS.ELA-Literacy.RI.11-12.7 ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access or copies of articles, Worksheet – Practical problems KEY VOCABULARY/TERMS: Inflation, Consumer Price Index, Contract, […]

Jobs and Money Lesson 2: Choosing Jobs, Choosing Salaries

In this lesson, students think about the different kinds of wages and income they can earn. Students explore how work or service is valued in terms of wages and how more education can be an asset to earning more income.

Jobs and Money Lesson 3: What’s Yours and What’s Not: Paychecks and Deductions

In this lesson, students will analyze a pay stub and think about how net income and gross income can fluctuate. The primary purpose is to think about which deductions are voluntary, which are involuntary and why. The second purpose will be to get them to use the rational decision-making process to evaluate the different retirement savings options: 401K and IRA. If the teacher wants to make the lesson more challenging, students can also think about Roth 401Ks and Roth IRAs.

Jobs Teens Can Get Now

Every teen needs money, and therefore every teen needs a job. Finding a job can be a challenge. This lesson will give you guidance in finding and keeping that great job

Tax Basics for Teens

JUMP$TART NATIONAL STANDARD: Employment and Income, Standard 3 CEE NATIONAL STANDARD: Earning Income, Standard 7 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.9-10.9 CONTENT STATEMENT: Teens will experience the financial benefit of using basic tax forms to file a tax return, assuming they earned taxable income. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Each student needs their own computer […]

The Connection Between College Majors and Careers

In this lesson, students will go through the career decision-making process. They will start to see the connections between picking a major for college and the possibilities that this major will offer for post-bachelor’s degree jobs. Also, by thinking about majors before potential colleges, students can think about picking colleges in later lessons that are based on their interests, as well as other criteria.

III. Managing Finances and Budgeting

‘SMART’ Financial Goal-setting

TOPIC/COMPETENCY: Standard: Spending & Saving – Goal setting strategies [i.e. S.M.A.R.T.], integrating personal values, experiences vs. possessions research CEE National Standard: II Buying Goods and Services, Standard 7 [Grade 4] Jump$tart National Standard: Spending & Saving, Standard 4. Common Core State Standard:                           […]

Advantages and Pitfalls of Using Cash and Prepaid Cards

TOPIC/COMPETENCY: Spending and Saving Jump$tart National Standard: Planning and Money Management, Standard 3 LESSON TITLE: Advantages and Pitfalls of Using Cash and Prepaid Cards ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device, projector to display the Kahoot quiz, guided notes KEY VOCABULARY/TERMS: cash budget, prepaid cards, closed-system prepaid card, open-system prepaid card, gift […]

Avoiding Common Bank Fees

JUMP$TART NATIONAL STANDARD: Financial Decision Making, Standard 6 CEE NATIONAL STANDARD: Buying Goods and Services, Standard 3 (Benchmark 8) COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.9-10.9 CONTENT STATEMENT: Students will compare common banking fees and select the financial institution with fees minimal to their own financial situation. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: “Your Guide To Preventing […]

Budgeting for College Life

In this lesson, students will put together a budget for how much college will cost. They will consider how costs can vary depending on the decisions you make and then think about how they could possibly finance their college plans, based on the previous lesson. They will also write a short reflection piece at the end of the lesson to reflect on the unit as a whole, but particularly on the process of making a college budget.

Budgeting for Prom

In this lesson, students will make a spending plan for a traditional rite of passage for American teenagers – the prom. In regions or countries where this kind of gathering is not as dominant or appropriate, students can plan an end-of-the-year party for their graduating class or whatever they feel is appropriate. Essentially, the lesson asks for students to work in a small team (two-to-three people) to plan and budget for an evening out.

Comparing Auto Loans

JUMP$TART NATIONAL STANDARD: Credit and Debt, Standard 1 and 2 CEE NATIONAL STANDARD: Using Credit, Standards 1-5 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will experience the practice of comparison shopping automobile loans. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet, Projector, Automobile Loan Shopping Guide (Included), Automobile Loan Shopping Guide Master (Included) KEY VOCABULARY/TERMS: […]

Comparison Shopping Big-ticket Items

JUMP$TART NATIONAL STANDARD: Financial Decision Making, Standard 4 CEE NATIONAL STANDARD: Buying Goods and Services, Standard 5 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will experience strategies used in retails sales and learn consumer strategies that can be applied prior to making a purchasing decision. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Participation Reflection Sheet_(included); […]

Comparison Shopping: Opportunity Cost and Trade-off Thinking

TOPIC/COMPETENCY: Spending and Saving CEE National Standard: II Buying Goods and Services, Standard 3 [Grade 8] Jump$tart National Standard: Planning and Money Management, Standard 4 LESSON TITLE: Opportunity cost / trade off thinking; Comparison shopping ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device KEY VOCABULARY/TERMS: comparison shopping, opportunity cost, trade-off, scarcity, cost/benefit analysis, […]

Develop a Plan for Spending and Saving

TOPIC/COMPETENCY: Spending and Saving CEE National Standard: II Buying Goods and Services, Standard 1 Jump$tart National Standard: Spending and Saving, Standard 1 Common Core State Standard: CCSS.ELA-Literacy.RST.9-10.3 CCSS.ELA-Literacy.RST.11-12.3 LESSON TITLE: Develop a plan for spending and saving ESTIMATED TIME: 50 min. MATERIALS NEEDED: iPads or computers, handout Achievefinancialcu.com Teen Spending Plan, digital projector, guided notes […]

Financial Planning for Jane

This lesson focuses on the task of budgeting. The students will work in groups to design a budget for “Jane,” a fictional character who has hired them to be her personal finance consultants.

How to Minimize Student Loan Debt

JUMP$TART NATIONAL STANDARD: Credit and Debt, Standard 1 CEE NATIONAL STANDARD: Using Credit, Standards 1, 3 and 8 COMMON CORE STATE STANDARD: CCSS.ELA-Literacy.RST.9-10.4 CCSS.ELA-Literacy.RST.11-12.2 CONTENT STATEMENT: Students will investigate strategies and resources to minimize student loan debt. ESTIMATED TIME: 100 minutes MATERIALS NEEDED: Projector; Student computers with Internet; College Grad Budget Template (Included); How to Minimize […]

Jobs and Money Lesson 5 (final): Globalization and the Career Trajectories

This lesson is the final part of the unit on Jobs and Money. In this lesson, students are asked to come up with a projected profession-income plan. They will decide on a possible career that takes into account what they’ve learned about globalization and how technology is changing the kinds of jobs that exist. Since it is a projected plan, they should be encouraged to be as imaginative and creative as they can be.

Managing a Checking Account

TOPIC/COMPETENCY: Spending and Saving CEE National Standard: II Buying Goods and Services, Standard 3 [Grade 8] Jump$tart National Standard: Spending and Saving, Standard 3 Common Core State Standard: CCSS.ELA-Literacy.RST.9-10.3 CCSS.ELA-Literacy.RST.11-12.3 LESSON TITLE : Managing a Checking Account ESTIMATED TIME: 50 min (plus practice time) MATERIALS NEEDED: Online checking simulation (mint.com) KEY VOCABULARY/TERMS: Checking Account, Share […]

Managing Your Finances with Mobile Phones

JUMP$TART NATIONAL STANDARD: Financial Decision Making, Standards 2, 4, 8 CEE NATIONAL STANDARD: Buying Goods and Services, Standards 1, 3, 4, 5 CONTENT STATEMENT: Students will select or recommend mobile applications to use for financial management and financial decision-making. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet; Projector; Optional but recommended: Student phones; Student Review Guide […]

Mobile Banking and Payments

TOPIC/COMPETENCY: Spending and Saving CEE National Standard: III Saving Jump$tart National Standard: Planning and Money Management Standard 3 Describe how to use different payment methods Common Core State Standard: CCSS.ELA-Literacy.RST.9-10.4 CCSS.ELA-Literacy.RST.11-12.2 LESSON TITLE: Mobile banking / mobile pay / automatic payments ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device, mobile banking powerpoint KEY […]

Personal Budgeting

In this lesson, students build upon what they have learned about saving and investing, and create their own personal budgets. Additionally, students will make decisions about how they allocate their earnings and take out loans. The class will finish with a discussion of small group findings/decision making.

Portfolio Management

In this lesson, students will build on their knowledge of investments and risk by thinking about portfolio management. In particular, students will think about the relationship between risk and portfolio diversity. The lesson also introduces students to the concept of an investment lifecycle. During the lesson, students will think about how different people might be more or less attracted to different investment portfolios.

Saving Strategies

TOPIC/COMPETENCY: Spending and Saving CEE National Standard: III Saving Jump$tart National Standard: Planning and Money Management Standard 3 Develop a plan for spending and saving Common Core State Standard: CCSS.ELA-Literacy.RST.9-10.4 CCSS.ELA-Literacy.RST.11-12.2 ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device, spending and saving direct deposit form, spending and saving powerpoint KEY VOCABULARY/TERMS: direct deposit, […]

Strategies Businesses Use to Influence Buying Decisions

TOPIC/COMPETENCY: Spending and Saving CEE National Standard: II Buying Goods and Services, Standards 1, 4 Jump$tart National Standard: Planning and Money Management, Standard 4 LESSON TITLE: Strategies businesses use to influence buying decisions ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device KEY VOCABULARY/TERMS: subliminal advertising, consumer buying behavior, celebrity endorsement, celebrity advertising WHY […]

Strategies to Reduce Your Debt

The culture in America makes it easy to acquire debt because most persons have an entitlement, “I want it now” attitude toward material objects. Spending more than you make will lead you into debt.

The Amazing Race

In this lesson, students will work in groups to put together a budget plan simulating the Amazing Race. They will devise a strategy for getting from Los Angeles to New York, but they will also have time to revise their plans during the lesson to think about the importance of collaborating on budgeting, emphasizing a teamwork ethos.

The Other Costs of Having a Car

In this lesson, students will design a budget for the costs that come with owning a car. They will also devise strategies to reduce these costs so that owning a car is feasible.

Understanding Financial Advice: Fiduciary vs. Non-fiduciary

TOPIC/COMPETENCY: Investing: Fiduciary vs. Suitability Standard – impact of fees on investing CEE National Standard: Standard 5 – Benchmark 12-7 Jump$tart National Standard: Investing Standard 1 Common Core State Standard: CCSS.ELA-Literacy.RI.9-10.9 CSS.ELA-Literacy.W.9-10.9 LESSON TITLE: “Whom Should You Trust? Whom Should You Pay?” LESSON OBJECTIVE: Students will recognize that financial advice is a service that one […]

Using Technology to Keep and Use Financial Records

TOPIC/COMPETENCY: Spending and Saving Jump$tart National Standard: Planning and Money Management, Standard 2 ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device KEY VOCABULARY/TERMS: budget, bank, income, expense, savings, smartphone banking, mobile phone banking, WHY THIS MATTERS TO YOU NOW: The earlier students start tracking their finances, the sooner they get into the habit […]

When You’re Short on Cash

JUMP$TART NATIONAL STANDARD: Financial Decision Making, Standards 1 and 4; Credit and Debt, Standard 3 CEE NATIONAL STANDARD: Buying Goods and Services, Standards 1-3 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will experience how to make it through the month when they are short on cash. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Each student […]

Why Budget?

Steps in managing money include identifying the amount of income availableand the expenses that need to be covered, and prioritizing short- and long-term goals. Individuals, households, government, businesses and other organizations all budget with these ideas in mind. Most budgets are developed for a set period of time. A family might develop a monthly household budget; a high school student, a weekly budget based on an allowance. Businesses routinely do quarterly budgets; school districts are mandated to prepare annual budgets. Making a budget for spending and saving can help people reach their goals.

This lesson will focus students on the ins and outs of managing money by learning how to budget. High school students do make decisions each day, although not always consciously, on how to spend or save the income they have. By keeping a simple daily or weekly budget, students become aware of how they might cut an expense and save for something they really want.

Winning the Lottery

In the other lessons for this unit, students became familiar with investing and potential investment vehicles. This lesson works best if students have already gone through the earlier three lessons, in which they learned about different investment options and evaluated them using four variables in a group setting. This lesson focuses on having students use the tables them made about different kinds of investment options as they think about what to do with their lottery winnings. Students will work in pairs on this exercise.

You Are How You Organize: Keeping and Using Financial Records

TOPIC/COMPETENCY:  Spending: Paper based strategies for keeping and using financial records CEE National Standard: II Buying Goods and Services, Standard 7 [Grade 4] Jump$tart National Standard: Standard 2. Develop a system for keeping and using financial records. Common Core State Standard: CCSS.ELA-LITERACY.RST.9-10.4 CCSS.ELA-LITERACY.RI.11-12.1 LESSON TITLE: “You Are How You Organize!” CONTENT STATEMENT: What factors can […]

IV. Saving and Investing

‘SMART’ Financial Goal-setting

TOPIC/COMPETENCY: Standard: Spending & Saving – Goal setting strategies [i.e. S.M.A.R.T.], integrating personal values, experiences vs. possessions research CEE National Standard: II Buying Goods and Services, Standard 7 [Grade 4] Jump$tart National Standard: Spending & Saving, Standard 4. Common Core State Standard:                           […]

401(k): The Power of Investing Young for Retirement

TOPIC/COMPETENCY: Investing CEE National Standard: Standard 5 – Benchmark 12-7 Jump$tart National Standard: Investing Standard 2 Common Core State Standard: CCSS.ELA-Literacy.RI.11-12.2 CCSS.ELA-Literacy.RI.11-12.4 LESSON TITLE: Evaluate investment alternatives/401k ESTIMATED TIME: 50 min MATERIALS NEEDED: computers with Internet access, paper and pencil, 401k Interview Questions KEY VOCABULARY/TERMS: 401K, vesting, re-allocation, diversification, investing, portfolio, stock, company match WHY THIS […]

Assessing Investment Options

In this lesson, students will become familiar with investing and potential investment vehicles. They will learn about different options and evaluate them using four variables in a group setting. The lesson focuses on increasing the students’ understanding of investments as well as fostering their critical thinking skills about the investment options available.

Develop a Plan for Spending and Saving

TOPIC/COMPETENCY: Spending and Saving CEE National Standard: II Buying Goods and Services, Standard 1 Jump$tart National Standard: Spending and Saving, Standard 1 Common Core State Standard: CCSS.ELA-Literacy.RST.9-10.3 CCSS.ELA-Literacy.RST.11-12.3 LESSON TITLE: Develop a plan for spending and saving ESTIMATED TIME: 50 min. MATERIALS NEEDED: iPads or computers, handout Achievefinancialcu.com Teen Spending Plan, digital projector, guided notes […]

Dividend Reinvestment, Capital Gains and Capital Losses

TOPIC/COMPETENCY: Investing: Dividend Reinvestment, Capital Gain, Capital Loss CEE National Standard: Standard 5 – Benchmark 12-7 Jump$tart National Standard: Investing Standard 3 Common Core State Standard: CCSS.ELA-Literacy.RI.9-10.8 CSS.ELA-Literacy.W.9-10.1 LESSON TITLE: “Learning the Language of Money: A Lesson on Dividend Reinvestment, Capital Gains and Capital Losses” LESSON OBJECTIVE: Students will define and describe capital gain, capital […]

Financial Planning for Jane

This lesson focuses on the task of budgeting. The students will work in groups to design a budget for “Jane,” a fictional character who has hired them to be her personal finance consultants.

How Fees and Inflation Can Erode Retirement Savings

JUMP$TART NATIONAL STANDARD: Investing, Standard 2 CEE NATIONAL STANDARD: Investing, Standards 1 and 3 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will discuss the impact fees, penalties and inflation have on retirement savings ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Chat Station Topic Sheets — all included (Financial Planner Fees (Third party); Mutual Fund Fees; 401K Fees; […]

How to Minimize Student Loan Debt

JUMP$TART NATIONAL STANDARD: Credit and Debt, Standard 1 CEE NATIONAL STANDARD: Using Credit, Standards 1, 3 and 8 COMMON CORE STATE STANDARD: CCSS.ELA-Literacy.RST.9-10.4 CCSS.ELA-Literacy.RST.11-12.2 CONTENT STATEMENT: Students will investigate strategies and resources to minimize student loan debt. ESTIMATED TIME: 100 minutes MATERIALS NEEDED: Projector; Student computers with Internet; College Grad Budget Template (Included); How to Minimize […]

Investing: The Power of Compound Interest

In this lesson, students learn the concept of “Pay yourself first” and explore ways to develop this habit to take advantage of the power of compound interest.

Jobs and Money Lesson 3: What’s Yours and What’s Not: Paychecks and Deductions

In this lesson, students will analyze a pay stub and think about how net income and gross income can fluctuate. The primary purpose is to think about which deductions are voluntary, which are involuntary and why. The second purpose will be to get them to use the rational decision-making process to evaluate the different retirement savings options: 401K and IRA. If the teacher wants to make the lesson more challenging, students can also think about Roth 401Ks and Roth IRAs.

Madoff Case: (Dis)Trust and Investments

In this lesson, students will be introduced to the Madoff Ponzi scheme. They will think about what Bernie Madoff did and how very experienced investors were tricked by him. Then we will return to the rational decision-making process and the four variables used to make investments to consider how investors can protect themselves against risk.

Making Sense of Mutual Funds

JUMP$TART NATIONAL STANDARD: Investing, Standard 1 CEE NATIONAL STANDARD: Investing, Standard 1 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.RL.7.12. CONTENT STATEMENT: Identify and demonstrate diversification strategies ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Projector, Making Sense of Mutual Funds Powerpoint (Included), Internet, Computers for students, Paper and pencil or pen KEY VOCABULARY/TERMS: Diversification, stock, bond, mutual fund, dividend […]

Mutual Funds & Exchange Traded Funds as Investment Tools

TOPIC/COMPETENCY:  Investing: Mutual Funds and Exchange Traded Funds CEE National Standard: V Investing Standard 3 –(Grade 12) Jump$tart National Standard: II Investing Standard 2-D: Evaluate investment alternatives Common Core State Standard: CCSS.ELA-LITERACY.RI.9-10.1 CCSS.ELA-LITERACY.W.9-10.4 LESSON TITLE: “Discovering the Power of Mutual Funds & Exchange Traded Funds as Investment Tools” CONTENT STATEMENT: What are the key reasons […]

Portfolio Management

In this lesson, students will build on their knowledge of investments and risk by thinking about portfolio management. In particular, students will think about the relationship between risk and portfolio diversity. The lesson also introduces students to the concept of an investment lifecycle. During the lesson, students will think about how different people might be more or less attracted to different investment portfolios.

Retirement Products

JUMP$TART NATIONAL STANDARD: Investing, Standard 2 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will evaluate investment opportunities when initially getting a full-time job. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Retirement Products – Worksheet (Included); Retirement Products Diagram (Included); Internet and projector (for the embedded quiz); Retirement Products Vocab (Included); Worksheet Master; Diagram Master; Each student needs […]

Risk and Diversity

In this lesson, students will continue the conversation about investment and risk. In particular, students will think carefully about how risk applies to different investment opportunities. This lesson uses the Knowledge@Wharton article “Risky Business: Private Equity in China” to introduce students to concepts of investment risk in practice. The lesson ends with a game about investment risk and an introduction to portfolio management.

Saving Strategies

TOPIC/COMPETENCY: Spending and Saving CEE National Standard: III Saving Jump$tart National Standard: Planning and Money Management Standard 3 Develop a plan for spending and saving Common Core State Standard: CCSS.ELA-Literacy.RST.9-10.4 CCSS.ELA-Literacy.RST.11-12.2 ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device, spending and saving direct deposit form, spending and saving powerpoint KEY VOCABULARY/TERMS: direct deposit, […]

SWOT (Strengths, Weaknesses, Opportunities, Threats)

Over the course of this unit, students have begun to think about investing in terms of portfolio management (i.e. as a balance of risk/return among multiple investment opportunities). This lesson continues that discussion by looking at specific investing choices. Why might we invest in one company and not another? Throughout the lesson, students will learn how to evaluate companies, industries and products using a SWOT (strengths, weaknesses, opportunities and threats) analysis.

The Puzzling Practice of Investing in Stocks and Bonds

TOPIC/COMPETENCY:  Investing: Stocks and Bonds CEE National Standard: V Investing Standard 3 – (Grade 12) Jump$tart National Standard: II Investing Standard 2-D: Evaluate investment alternatives  Common Core State Standard: CCSS.ELA-LITERACY.RI.9-10.1 CCSS.ELA-LITERACY.W.9-10.4 CONTENT STATEMENT: Stocks and Bonds are common tools that investors use to build long-term wealth. While there is risk inherent in the purchase of […]

Understanding Financial Advice: Fiduciary vs. Non-fiduciary

TOPIC/COMPETENCY: Investing: Fiduciary vs. Suitability Standard – impact of fees on investing CEE National Standard: Standard 5 – Benchmark 12-7 Jump$tart National Standard: Investing Standard 1 Common Core State Standard: CCSS.ELA-Literacy.RI.9-10.9 CSS.ELA-Literacy.W.9-10.9 LESSON TITLE: “Whom Should You Trust? Whom Should You Pay?” LESSON OBJECTIVE: Students will recognize that financial advice is a service that one […]

What Is an Investment?

In this lesson, teachers will introduce students to the concept of investing. Students will rely on personal experience to create a list of potential “investments.” Based on this list, teachers will lead a short discussion on different investment instruments. Both teachers and students will provide personal definitions of investing. Finally, we will compare different types of investments by introducing students to the concept of risk.

Winning the Lottery

In the other lessons for this unit, students became familiar with investing and potential investment vehicles. This lesson works best if students have already gone through the earlier three lessons, in which they learned about different investment options and evaluated them using four variables in a group setting. This lesson focuses on having students use the tables them made about different kinds of investment options as they think about what to do with their lottery winnings. Students will work in pairs on this exercise.

V. Buying Goods and Services

‘SMART’ Financial Goal-setting

TOPIC/COMPETENCY: Standard: Spending & Saving – Goal setting strategies [i.e. S.M.A.R.T.], integrating personal values, experiences vs. possessions research CEE National Standard: II Buying Goods and Services, Standard 7 [Grade 4] Jump$tart National Standard: Spending & Saving, Standard 4. Common Core State Standard:                           […]

Advantages and Pitfalls of Using Cash and Prepaid Cards

TOPIC/COMPETENCY: Spending and Saving Jump$tart National Standard: Planning and Money Management, Standard 3 LESSON TITLE: Advantages and Pitfalls of Using Cash and Prepaid Cards ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device, projector to display the Kahoot quiz, guided notes KEY VOCABULARY/TERMS: cash budget, prepaid cards, closed-system prepaid card, open-system prepaid card, gift […]

Budgeting for Prom

In this lesson, students will make a spending plan for a traditional rite of passage for American teenagers – the prom. In regions or countries where this kind of gathering is not as dominant or appropriate, students can plan an end-of-the-year party for their graduating class or whatever they feel is appropriate. Essentially, the lesson asks for students to work in a small team (two-to-three people) to plan and budget for an evening out.

Comparing Auto Loans

JUMP$TART NATIONAL STANDARD: Credit and Debt, Standard 1 and 2 CEE NATIONAL STANDARD: Using Credit, Standards 1-5 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will experience the practice of comparison shopping automobile loans. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet, Projector, Automobile Loan Shopping Guide (Included), Automobile Loan Shopping Guide Master (Included) KEY VOCABULARY/TERMS: […]

Comparison Shopping Big-ticket Items

JUMP$TART NATIONAL STANDARD: Financial Decision Making, Standard 4 CEE NATIONAL STANDARD: Buying Goods and Services, Standard 5 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will experience strategies used in retails sales and learn consumer strategies that can be applied prior to making a purchasing decision. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Participation Reflection Sheet_(included); […]

Comparison Shopping: Opportunity Cost and Trade-off Thinking

TOPIC/COMPETENCY: Spending and Saving CEE National Standard: II Buying Goods and Services, Standard 3 [Grade 8] Jump$tart National Standard: Planning and Money Management, Standard 4 LESSON TITLE: Opportunity cost / trade off thinking; Comparison shopping ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device KEY VOCABULARY/TERMS: comparison shopping, opportunity cost, trade-off, scarcity, cost/benefit analysis, […]

Develop a Plan for Spending and Saving

TOPIC/COMPETENCY: Spending and Saving CEE National Standard: II Buying Goods and Services, Standard 1 Jump$tart National Standard: Spending and Saving, Standard 1 Common Core State Standard: CCSS.ELA-Literacy.RST.9-10.3 CCSS.ELA-Literacy.RST.11-12.3 LESSON TITLE: Develop a plan for spending and saving ESTIMATED TIME: 50 min. MATERIALS NEEDED: iPads or computers, handout Achievefinancialcu.com Teen Spending Plan, digital projector, guided notes […]

Emotional vs. Rational Brain

JUMP$TART NATIONAL STANDARD: Financial Decision Making, Standard 4 CEE NATIONAL STANDARD: Buying Goods and Services, Standard 5 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will experience how emotions unrelated to the decision at hand can trigger the “emotional brain” to make decisions that should be made by the “rational brain”. ESTIMATED TIME: 50 minutes […]

Financial Decision-making: Car Ownership

TOPIC/COMPETENCY:  Financial Decision Making: Criterion-based financial decision making practices CEE National Standard: II Buying Goods and Services, Standard 3, Grade 12 Benchmark Jump$tart National Standard: Financial Decision Making: Standard 4:  Make criterion-based financial decisions by systematically considering alternatives and consequences Common Core State Standard: CCSS.ELA-LITERACY.W.9-10.2 CCSS.ELA-LITERACY.W.9-10.4   LEARNING OBJECTIVE: Students will apply the five (5) […]

Getting your Money’s Worth: Consumer Behavior and College Selection

In this lesson, students will consider the five stages of consumer behavior when considering colleges. In the previous lesson, they narrowed down possible college majors, which could serve as a springboard for ideas of where to go to get the kind of education they desire. For this lesson, it will be important for the teacher to familiarize her/himself with different kinds of colleges or tertiary-level education institutions (research universities, mid-size, liberal arts colleges, vocational education).

Getting Your Own Set of Wheels

In this lesson, students will think about which car to buy/lease based on the five stages of consumer behavior.

Making a Purchase: Understanding the Consumer Decision-making Process

In this lesson, students are introduced to the consumer decision-making process and asked to employ it in an imagined scenario. They are also asked to reflect on the usefulness of the process and compare it to what they do right now. By the end of the lesson, students should be able to explain the process and critique it.

Online Buying

In this lesson, students think about how online retailers (large and small) are becoming dominant players in e-commerce. They go on to analyze the five stages of consumer behavior for online shopping and modify the stages as they see fit. They will then plan the process of making an online purchase in a group, applying the modified stages.

Online Group Buying

In this lesson, students think about how online group buying sites are becoming major players in E-commerce. They go on to analyze the five stages of consumer behavior for online shopping and modify the stages as they see fit. They will then plan the process of making an online purchase in a group, applying the modified stages.

Should You Buy a House?

In this lesson, students consider the financial responsibilities and emotional investments of buying a house. Although the housing market has taken a hit since 2008, owning a house is still a big part of the American dream. In this lesson, the students explore these ideas and think about buying a house by merging the rational decision-making model and the consumer decision-making model. Since a house is not just a purchase but a lifestyle change, students can think about major purchases from this perspective.

Strategies Businesses Use to Influence Buying Decisions

TOPIC/COMPETENCY: Spending and Saving CEE National Standard: II Buying Goods and Services, Standards 1, 4 Jump$tart National Standard: Planning and Money Management, Standard 4 LESSON TITLE: Strategies businesses use to influence buying decisions ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device KEY VOCABULARY/TERMS: subliminal advertising, consumer buying behavior, celebrity endorsement, celebrity advertising WHY […]

Understanding Mortgages

In this lesson, students will begin to understand the process of how to go about owning a house. They will study the application process for a mortgage; who to talk to in order to buy a house; what criteria are used to get mortgage approval; and the popular types of mortgages available in the market. They will be given different types of mortgages and asked to make a choice based on their preferred mode of payment, using the consumer decision-making process.

Understanding Self and Consumer Behavior: Why Do You Buy What You Buy?

In this lesson, students are asked to reflect on the stages of consumer behavior when making purchases for different kinds of commodity goods. Through this lesson, students become more aware of consumer behavior theory and have a chance to critique it. They will also read a Knowledge@Wharton High School article about controlling spending and think about if and how they can incorporate this advice into their daily lives.

VI. Banking and Financial Institutions

Advantages and Pitfalls of Using Cash and Prepaid Cards

TOPIC/COMPETENCY: Spending and Saving Jump$tart National Standard: Planning and Money Management, Standard 3 LESSON TITLE: Advantages and Pitfalls of Using Cash and Prepaid Cards ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device, projector to display the Kahoot quiz, guided notes KEY VOCABULARY/TERMS: cash budget, prepaid cards, closed-system prepaid card, open-system prepaid card, gift […]

Avoiding Common Bank Fees

JUMP$TART NATIONAL STANDARD: Financial Decision Making, Standard 6 CEE NATIONAL STANDARD: Buying Goods and Services, Standard 3 (Benchmark 8) COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.9-10.9 CONTENT STATEMENT: Students will compare common banking fees and select the financial institution with fees minimal to their own financial situation. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: “Your Guide To Preventing […]

Common Cents: A Lesson about Getting Banked or Staying Unbanked

TOPIC/COMPETENCY: Standard: Describe How to Use Different Payment Methods Common fees associated with banking [overdraft fees, NSF fees, minimum balance fees, ACH; avoiding check to cash] CEE National Standard: II Buying Goods and Services, Standard 7 [Grade 4] Jump$tart National Standard: Spending & Saving, Standard 3. Common Core State Standard: CCSS.ELA-LITERACY.W.910.7 LESSON TITLE: “Common Cents: […]

Comparing Auto Loans

JUMP$TART NATIONAL STANDARD: Credit and Debt, Standard 1 and 2 CEE NATIONAL STANDARD: Using Credit, Standards 1-5 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will experience the practice of comparison shopping automobile loans. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet, Projector, Automobile Loan Shopping Guide (Included), Automobile Loan Shopping Guide Master (Included) KEY VOCABULARY/TERMS: […]

Managing a Checking Account

TOPIC/COMPETENCY: Spending and Saving CEE National Standard: II Buying Goods and Services, Standard 3 [Grade 8] Jump$tart National Standard: Spending and Saving, Standard 3 Common Core State Standard: CCSS.ELA-Literacy.RST.9-10.3 CCSS.ELA-Literacy.RST.11-12.3 LESSON TITLE : Managing a Checking Account ESTIMATED TIME: 50 min (plus practice time) MATERIALS NEEDED: Online checking simulation (mint.com) KEY VOCABULARY/TERMS: Checking Account, Share […]

Managing Your Finances with Mobile Phones

JUMP$TART NATIONAL STANDARD: Financial Decision Making, Standards 2, 4, 8 CEE NATIONAL STANDARD: Buying Goods and Services, Standards 1, 3, 4, 5 CONTENT STATEMENT: Students will select or recommend mobile applications to use for financial management and financial decision-making. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet; Projector; Optional but recommended: Student phones; Student Review Guide […]

Mobile Banking and Payments

TOPIC/COMPETENCY: Spending and Saving CEE National Standard: III Saving Jump$tart National Standard: Planning and Money Management Standard 3 Describe how to use different payment methods Common Core State Standard: CCSS.ELA-Literacy.RST.9-10.4 CCSS.ELA-Literacy.RST.11-12.2 LESSON TITLE: Mobile banking / mobile pay / automatic payments ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device, mobile banking powerpoint KEY […]

Using Technology to Keep and Use Financial Records

TOPIC/COMPETENCY: Spending and Saving Jump$tart National Standard: Planning and Money Management, Standard 2 ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device KEY VOCABULARY/TERMS: budget, bank, income, expense, savings, smartphone banking, mobile phone banking, WHY THIS MATTERS TO YOU NOW: The earlier students start tracking their finances, the sooner they get into the habit […]

You Are How You Organize: Keeping and Using Financial Records

TOPIC/COMPETENCY:  Spending: Paper based strategies for keeping and using financial records CEE National Standard: II Buying Goods and Services, Standard 7 [Grade 4] Jump$tart National Standard: Standard 2. Develop a system for keeping and using financial records. Common Core State Standard: CCSS.ELA-LITERACY.RST.9-10.4 CCSS.ELA-LITERACY.RI.11-12.1 LESSON TITLE: “You Are How You Organize!” CONTENT STATEMENT: What factors can […]

VII. Using Credit

Building and Protecting Your Credit Rating

TOPIC/COMPETENCY:  Credit: Impact of a good and bad credit score/report (higher interest rates, employment, insurance, credit denial) CEE National Standard: IV Using Credit, Standard 5 – Reasons why someone might be denied credit; Explain what credit bureaus do (Grade 12) Jump$tart National Standard: II Credit & Debt, Standard 2- Summarize a borrower’s rights and responsibilities […]

Building Credit Early in Life — Important Rules of Thumb

JUMP$TART NATIONAL STANDARD: Credit and Debt, Standard 3 CEE NATIONAL STANDARD: Using Credit, Standard 1 COMMON CORE STATE STANDARD: CCRA.R.2 CONTENT STATEMENT: Establish rules of thumb to build credit early in life. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet (or printed articles); Projector; Fact or Myth Worksheet (included); Building Credit Vocabulary Powerpoint (included); Fact or […]

Comparing Student Loans

In this lesson, students explore different types of student loans and figure out which loans might be best for them. They will also create an infographic to help other teenagers learn about student loan options and how to select the best one.

Credit and Debt: Credit Reports

TOPIC/COMPETENCY: Credit and Debt CEE National Standard: IV Using Credit, Standards 6, 7 Jump$tart National Standard: Credit and Debt, Standard 2 ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device KEY VOCABULARY/TERMS: credit agency, credit bureau, credit report, soft inquiry, hard inquiry WHY THIS MATTERS TO YOU NOW: Knowing how to access and monitor […]

Credit Cards and You

In this lesson, students understand credit cards, credit scores and other credit-related matters to increase their financial literacy. They will read an excerpt from a Knowledge@Wharton article and another from a Knowledge@Wharton High School article to think about why even high school students without credit need to understand the ramifications that a credit score can have on their lives. Students will work in small groups to think through some of these issues.

Credit Check: The Hunt for Errors in Your Credit Report

TOPIC/COMPETENCY:  Credit: Borrower’s Rights: Having minors check their credit reports for errors & identity theft; process for correcting errors CEE National Standard: IV Using Credit, Standard 5 – Reasons why someone might be denied credit VI Protecting & Insuring , Standards 13 & 14 – Relating to Identity Theft & Govt. Laws that protect consumers […]

Fringe Banking and Predatory Lenders

In this lesson, students will learn about unscrupulous companies operating in the world of fringe banking and predatory lending. These companies take advantage of those who have little or no credit, who are unbanked or underbanked, or who are desperate. Learn to recognize these companies so that you don’t become a victim!

How to Minimize Student Loan Debt

JUMP$TART NATIONAL STANDARD: Credit and Debt, Standard 1 CEE NATIONAL STANDARD: Using Credit, Standards 1, 3 and 8 COMMON CORE STATE STANDARD: CCSS.ELA-Literacy.RST.9-10.4 CCSS.ELA-Literacy.RST.11-12.2 CONTENT STATEMENT: Students will investigate strategies and resources to minimize student loan debt. ESTIMATED TIME: 100 minutes MATERIALS NEEDED: Projector; Student computers with Internet; College Grad Budget Template (Included); How to Minimize […]

Navigating Hidden Fees and Tricky Credit Card Terms

Credit cards are a great tool to have, but learning how to use them to your advantage is a skill worth knowing. Don’t throw away money on hidden fees or be confused by tricky terms.

Paying for College

In this lesson, students will explore different ways to pay for college tuition and fees. They will learn about federal grants and loans, private loans and the 529 education savings plan. By exposing students to the various options they have, the lesson will help students feel more empowered about where they can go for education and how to pay for it.

Strategies to Build Your Credit

As a teenager, it is important to learn how to build good credit. No credit is just as harmful to you as bad credit!

Strategies to Reduce Your Debt

The culture in America makes it easy to acquire debt because most persons have an entitlement, “I want it now” attitude toward material objects. Spending more than you make will lead you into debt.

The Impact of Financial Problems on a Person’s Well-being

TOPIC/COMPETENCY: Credit and Debt CEE National Standard: IV Using Credit Jump$tart National Standard: Financial Responsibility and Decision Making Standard 1, Take responsibility for personal finance decisions Common Core State Standard: CCSS.ELA-Literacy.RST.9-10.4 CCSS.ELA-Literacy.RST.11-12.2 ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device KEY VOCABULARY/TERMS: financial distress, stress WHY THIS MATTERS TO YOU NOW: There will […]

The Power of Your Credit Score

TOPIC/COMPETENCY: Credit and Debt: Credit Scoring CEE National Standard: IV Using Credit Jump$tart National Standard: Credit and Debt Standard 2. Explain the purpose of a credit record and indentify borrowers’ credit report rights Common Core State Standard: CCSS.ELA-Literacy.RST.9-10.4 CCSS.ELA-Literacy.RST.11-12.2 ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Internet access, computer, mobile device, worksheet, infographic KEY VOCABULARY/TERMS: credit agency, […]

The Subprime Crisis

In this lesson, the students are introduced to the subprime crisis and asked to understand how the poor credit health of average Americans and the high risk financial decisions taken by investment banks led to a major collapse of the U.S. economy. They should be able to link some of the issues back to the many consumers who are dependent on credit for their daily purchases.

Understanding Mortgages

In this lesson, students will begin to understand the process of how to go about owning a house. They will study the application process for a mortgage; who to talk to in order to buy a house; what criteria are used to get mortgage approval; and the popular types of mortgages available in the market. They will be given different types of mortgages and asked to make a choice based on their preferred mode of payment, using the consumer decision-making process.

Understanding Plastic Cards

JUMP$TART NATIONAL STANDARD: Spending and Saving, Standard 3 CEE NATIONAL STANDARD: Using Credit, Standard 1 COMMON CORE STATE STANDARD: CCSS.ELA-LITERACY.WHST.11-12.9 CONTENT STATEMENT: Students will explain the differences between common plastic cards, such as debit cards and credit cards. ESTIMATED TIME: 50-75 minutes MATERIALS NEEDED: Internet; computers for each student; projector; Credit Card Resource Bank (included); […]

VIII. Protecting Against Risk

Bounded Rationality–Everyone Makes Mistakes

In this lesson, we will look at the role of cognitive biases in economic theory. Students will think about the concept of bounded rationality, looking specifically at their own heuristics and intuitions. In particular, we will look at confirmation bias, framing, anchoring and egocentrism.

Game Theory–Strategies and Payoffs

In this lesson, students will learn about game theory. In particular, students will think about the standard prisoner’s dilemma as it relates to routine business decisions. Students will compare and contrast one-time games and repeated games, looking at the incentives for cooperation in both. After reading the Knowledge@Wharton article,”Forecasting in Conflicts: How to Predict What Your Opponent Will Do,” students will think about game theory in personal decision making by playing a short game.

Madoff Case: (Dis)Trust and Investments

In this lesson, students will be introduced to the Madoff Ponzi scheme. They will think about what Bernie Madoff did and how very experienced investors were tricked by him. Then we will return to the rational decision-making process and the four variables used to make investments to consider how investors can protect themselves against risk.

Portfolio Management

In this lesson, students will build on their knowledge of investments and risk by thinking about portfolio management. In particular, students will think about the relationship between risk and portfolio diversity. The lesson also introduces students to the concept of an investment lifecycle. During the lesson, students will think about how different people might be more or less attracted to different investment portfolios.

Risk and Diversity

In this lesson, students will continue the conversation about investment and risk. In particular, students will think carefully about how risk applies to different investment opportunities. This lesson uses the Knowledge@Wharton article “Risky Business: Private Equity in China” to introduce students to concepts of investment risk in practice. The lesson ends with a game about investment risk and an introduction to portfolio management.

Risk Management and Insurance

You own things like that great smartphone attached to your hand. How do you protect your possessions from loss? How much risk are you willing to take, and would you like someone to share your risk? What are you willing to pay for this risk sharing? This is why you need to know about insurance.

SWOT (Strengths, Weaknesses, Opportunities, Threats)

Over the course of this unit, students have begun to think about investing in terms of portfolio management (i.e. as a balance of risk/return among multiple investment opportunities). This lesson continues that discussion by looking at specific investing choices. Why might we invest in one company and not another? Throughout the lesson, students will learn how to evaluate companies, industries and products using a SWOT (strengths, weaknesses, opportunities and threats) analysis.

The Subprime Crisis

In this lesson, the students are introduced to the subprime crisis and asked to understand how the poor credit health of average Americans and the high risk financial decisions taken by investment banks led to a major collapse of the U.S. economy. They should be able to link some of the issues back to the many consumers who are dependent on credit for their daily purchases.

The Value of Disability Insurance

JUMP$TART NATIONAL STANDARD: Risk Management and Insurance, Standards 1 and 2 CEE NATIONAL STANDARD: Protecting and Insuring, Standard 2, 4,-7 CONTENT STATEMENT: Students will experience the financial implications of a serious injury that leads to a life long disability. ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Disability Insurance Fact Sheet (Included); Long-term Disability Insurance Quote Sheet […]

What Is an Investment?

In this lesson, teachers will introduce students to the concept of investing. Students will rely on personal experience to create a list of potential “investments.” Based on this list, teachers will lead a short discussion on different investment instruments. Both teachers and students will provide personal definitions of investing. Finally, we will compare different types of investments by introducing students to the concept of risk.

WiFi, Passwords, and Phishing: Online Safety Tips

JUMP$TART NATIONAL STANDARD: Financial Decision Making, Standard 7 CEE NATIONAL STANDARD: Protecting and Insuring, Standard 14 CONTENT STATEMENT: Students will identify online safety tips they can put into practice in their everyday lives ESTIMATED TIME: 50 minutes MATERIALS NEEDED: Each student needs a computer with Internet access; Game Play Learning Guide (included); Vocabulary Powerpoint (Included) KEY VOCABULARY/TERMS: […]

V. Accounting

V. Accounting Process

V. Buying Goods and Services

V. Ethics And Social Responsibility

V. Marketing Research

V. School-to-Career Transition

V. Statistics and Probability

VI. Banking and Financial Institutions

VI. Human Resource Management

VI. Interpretation and Use of Data

VI. Lifelong Learning

VI. Management

VI. Problem-Solving Applications

VI. Productivity

VI. The Marketing Plan

VII. Compliance

VII. Global Markets

VII. International Management

VII. Organized Labor

VII. The Role Of Government

VII. Using Credit

VIII. Legal

VIII. Protecting Against Risk

VIII. Technology and Information Management

X. Financial Decision Making

XI. Operations Management

XII. Global Perspective

XVII. Information Technology and Business Functions