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The following information is a hodge-podge of ideas collected by the United Local Staff of Columbian County. This group includes the following: Joyce Jensen - first grade, Shirley Swank and Bonnie McDevitt - Chapter 1 Reading, and Chris Grace and Risa Smith - physical education.

Due to such a varied group, we have chosen to develop a folder with which will contain a collection of ideas, hand-outs, economic materials and resources for all grade levels to use. We believe that it is important to have on hand resources in various areas including economics for teachers to use as they choose. Obviously we will not be sending the entire notebook because of the following reasons: we have basically just begun our collection and we have not had the ,time to collect and organize the notebook to our liking.

So we are sending you this idea of an ECONOMIC CURRICULUM RESOURCE NOTEEBOOK to be used by all grade levels. We enrolled in your class with the goal of learning some basic information about finances for our own selfish reasons. Because of your class we have satisfied sane of our concerns and also realize the need for education in economics at a younger age. This is why we feel there is a need for this notebook. Please find attached to this letter sane of our ideas and some hand-outs that we will be adding to our future "Notebook". Thank you.

To help children with their spelling as they do independent writing, we will

common words will already have been typed onto these pages. Many spaces are

left blank for the students to add new words to enlarge their own dictionary.

After the "Z" page of our dictionary we will have pages relating to certain subjects. Some special pages would include words relating to dinosaurs, contractions, jobs, colors, birthdays, months, days, numbers, different holidays and patriotic words. This year we will include a page listing easy economic terms that the children can use. As we discuss these terms from our reading, we will add these new words to our dictionary.

I a two day lesson on vocabulary --- wants/needs, goods/services, resources,

Play a game using picture or word cards. Have each of four students choose ten cards at random. Each student will be designated as resource, want, need or service. Have the students look at their cards and lay down any cards that fall in their category. After that they take turns drawing from a pike and discarding. Every time a card is drawn which falls into the students category, the student lays it down. The first student to lay all of their cards down wins the game.

catalogs, students will develop their wants, the curriculum needs, and how the physical education department can obtain other pieces of equipment outside of the budget.

WANTS: Students will browse through physical education equipment catalogs developing a "wish" list of equipment that they would like to see purchased. All price tags will be ignored the first time around.

will then make a list of equipment that has to be purchased. Students will be reminded that the equipment has to be purchased for the use of many. Students will also be reminded about how easily equipment breaks and how important it is to have extra equipment to prevent standing and waiting for their turn.

SERVICES/PRODUCTIVITY: Students will research a variety of methods of how to obtain extra equipment outside of the budget. Some ideas that may be discussed would be: Jump Rope for Your Heart; shoot-a-thon; run-a-thon; U.S. Games, etc.

Students may also be able to create their own equipment with the help of the industrial arts class and the art classes. Students may also want to create new games using various pieces of old equipment.

Students will research a sport of choice and fill out a questionnaire dealing with the expense related to that sport. What equipment is needed to participate? What is the price range of this equipment? Are lessons necessary and if so, how much do lessons run? Are there any extra costs such as green fees when golfing, lift tickets when skiing, and fishing license or hunting license, etc? Is traveling required and how far of a distance is it gas money or airline tickets?

Students will relate this information to a mathematical exercise. They will be

asked to figure out how many hours of work at minimum wage would be required to start and maintain participation in this sport? Or they can figure out how many hours of work would be needed if doing their baby-sitting job or mowing lawns or delivering newspapers and they may also take into account their allowances.

Students often dream about being in professional sports. In this lesson, students will research various professional sports and find the salaries of the top five to ten players in each sport chosen. Endorsements will not be included but will be discussed. The findings will then be compared and discussed. Questions will be asked about the wide range in salaries in all sports and why are some players paid so much more than others. Why are there salary differences between sports? Which sport would each student choose to be in and why?

Thus, you can see that credit cards - and particularly retail store cards as the most frequently held type - are viewed as a desirable service by millions of Americans. In general, credit cards provide the following benefits to consumers:

• Convenience and Security - Cards are a way of buying goods and services without having to carry large amounts of cash or to write checks.

• Borrowing - Cards allow you to purchase good or services now and budget the repayment over a convenient time period. Many durable goods (like appliances) might not be bought if cash payment was required.

• Saving Money - It can be cheaper to buy on credit - even paying a finance charge for the privilege - than "renting" the same goods or services. For example, it may be more economical, in the long run, to buy a washer and dryer rather than use a Laundromat.

• Identification - Having a credit card as an 1.0. helps in cashing checks or• making reservations. Often a credit card is a required form of identification.

• Simplifying Telephone/Mail Purchases - Goods can be purchased easier and with less cost with credit cards than by C.O.D.

1. Which type of consumer debt is larger: installment or non-installment? Answer: Installment -80 percent of total.

2. Approximately what percentage of U.S. households has some type of credit card? Answer: sixty-four percent

3 What kind of credit card is used by the largest number of households? Answer: store (retail) cards - 57 percent

4. For each group listed below, which is most likely to use a credit card?

5. What are some benefits from using credit cards? Answer: Convenience, use now and pay-later, save money, identification, simplify telephone/mail buying

6. The loss or theft of credit cards can be disastrous. In the event this should happen, �t is important to contact the credit card company immediately to minimize your liability. Using the enclosed Duplication Master No. 2, have the class complete a list of the credit cards they or family members hold.

The following three-month example illustrates the application of the "grace period" as well as calculation of the average daily balances and monthly finance charges.

While this is a complex example, it's a true reflection on how a finance charge is assessed against a typical active credit card account. Generally, credit card accounts are far more complicated because of the periodic purchases and payments over short periods of time.

What's required: For each billing period, show (1) the balance on which the finance charge for the month, if any, would be based; and (2) compute the dollar finance for each month, if any.

March Billing Period - No finance charge because account had zero balance carried from last statement.

The Dollar Finance Charge would be $138.33 times one month's finance rate (1.5%) or x.015 = $2.07.

May Billing Period - There would be no finance charge on the account because last month's statement balance was paid in full on May 21.

Starting the summer after her senior year in school, Kathy worked to earn money for medical school. At the end of each summer she put her money in a savings account with an annual yield of 6%. How much money will be an her account when she goes to medical school, if no other money

Solution: A = P( I r)flt = P( I r)n where A = amount, P = principal, n = of times/yr. Interest is given, t = total * or years Amount = 1000(1.06)4 + 15000.06)3-+ 1400(1.06)2 + 2000(1.06) + 2200 8942

Solution to extension: Let x = 1 + r Graph the equation 1000x4 + 1500x3 + 1400x2 + 2000x + 2200 = 10000 (or 1 Ox4 + 15x3 + 14x2 + 20x - 78 = O) and find the zeros of the function. The zeros are located at x -2.11 and x 1. 13. Since the rate cannot be negative, x 1. 13. -Since x=1 +this implies that r=.13or5

A young woman (A) is offered a job as a bank teller at a starting salary of $10,400 per year. She is told that If her work Is satisfactory her salary will be Increased by $1040 at the end of each year for the next five years. Her friend (B) Is offered a job as a teller at another bank at startling salary of $5200 per halt-year. She Is told that if work Is satisfactory her half-year salary will be increased by $260 per halfbeak at the end of each half-year for the next five years. Who is offered the better paying job A or B? How much more will this person make after working five years?

My bank has been charging me e monthly service fee of 25 cents plus 10 cents e check for my checking account. The bank now tells me it is changing to 50 cents a month service charge plus 5 cents a check and that this will save me money. How many checks must I write a month for this to be true.

Mary Is working for her father. He said he would pay her .02 the first day and double It each day for the next ten days. Her mother said that she would pay Mary $.03 per day and double it each day If she worked for her for the next nine days. Would Mary make more money If she worked for her mother or her father? How much more? •'

Transaction Dates	# Days	Balance	(# Days x Balance)
- 4/1-4/5	5	$100	$ 500
$50 purchase 4/6-4/25	20	$150	$3,000
$20 payment 4/26-4/30	5	$130	$ 650

SUMMER	EARNED
after senior year	$1000
after 1st year in college	$1500
after 2nd year in college	$1400
after 3rd year in college	$2000
after 4th year in college	$2200