Transcript UNIT 1 - ECONOMIC WAY OF THINKING

THE ECONOMIC WAY
OF THINKING…
FINANCIAL LITERACY – UNIT 1
THEME 1… LESSON 1…
• All your life you will be spending, saving, borrowing, &
hopefully investing…
• Choices = Consequences…
• Financial literacy will help you make “educated
decisions”…
• Incentives matter…
• Achieving personal wealth involves planning & making
sound financial decisions…
• See ‘Rules for Improving Your Financial Life’ (p 6)
• See ‘The Handy Dandy Guide’ (p10)
THEME 1… LESSON 2…
• Opportunity Cost: the best alternative a person
gives up to get something… The next best option to
the one actually chosen…
Read “A Mystery of Two Families” (p 4)
Part 1 – the mystery
Part 2 – solving the mystery
Use the “Handy Dandy Guide” to help solve the
mystery…
• Class/homework –
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• Exercise 2.1 (p 7) – questions a-f (on a separate piece of
paper)…