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Dolleen Wiltgen > Little River Elementary School, Mrs. Wiltgen's Web Page > Balanced Budget Teach 21 Project

Little River Elementary School, Mrs. Wiltgen's Web Page

Little River Elementary School, Mrs. Wiltgen's Web Page

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Mrs. Wiltgen's Web Page

 Weekly Assignments

Assignments One:
Review the list of expenses below.  Calculate to the best of your ability a cost for each item.  Write the items with the estimated cost beside it.  We need to establish how much it will cost you to live based on real-life expenses.  Talk with the adults in your life about the expenses on the list below.  Learn from their life experiences. They are a great resource for you during this project. Have them sign the paper with your expenses so that I know you've spoken to them and that paper can be used as your documentation. 
Travel (how many miles do you travel each week x's the price of gas/mile)
Health Insurance
Rental/Home Insurance
Assignment Two:
To be done with Mrs. Wiltgen:  Set up your Excel Spreadsheet with Income and Expenses. (See Balanced Budget Spreadsheet Rubric for guidance.)
Begin choosing stocks (you have $1,000.00 to spend), print a copy of the stock you pruchase for your file, and set up your on-line portfolio. (See Balanced Budget Stock Protfolio Rubric for guidance.)
Record a minimum of three entries each week in your on-line journal. (See Balanced Budget Journal Rubric for guidance.) Remember to write complete sentences in your journal entries.  This week use the following three questions to help you write your journal entries:
1.  What did you learn about how expensive it is to live in Georgia?  How much money do you think you need to make to be able to live in Georgia? 
2.  Explain how you feel about government taxes and why you feel the way that you do?  Are taxes a helpful or hurtful?  Explain your reasoning.  
Choose one of the following terms and prepare no more than a 5 minute "show and tell" description.  Have fun!  Begin working on this project, due next Friday.
Opportunity Cost
Price Incentive
Specialization of a Region
Voluntary Exchange Compared with Involuntary Exchange
Fair Trade Compared With Free Trade
Human Resources Compared With Natural Resources
State Taxes Compared With Federal Taxes
Income Taxes Compared With Sales Taxes
Stocks Compared with Bonds
Wholesale Compared with Retail
Appreciation of Value
Dividend Payment
Interest Rate
Record your paycheck, bills, and extra earnings on your Balanced Budget Spreadsheet. (See Balanced Budget Spreadsheet Rubric for guidance.)
Complete choosing stocks (you have $1,000.00 to spend), print a copy of the stock you pruchase for your file, and set up your on-line portfolio. (See Balanced Budget Stock Protfolio Rubric for guidance.)
Assignment Three:
Record a minimum of three entries in your on-line journal. (See Balanced Budget Journal Rubric for guidance.) Remember to write complete sentences in your journal entries.  Use the following questions to help you write your journal entries: (Look at research links on this page for help with these journal entries.)
1.  You told me last week that you need to make a minimum of $57,000 to live in Georgia in order to pay your cost of living expenses (remember, that doesn't include clothes, toys, and other unexpected expenses).  Look up salaries for jobs that interest you.  What salary would you receive for those jobs?  Would they pay you enough money to live in Georgia?  Also find out how much education you need to get a job that would give you a good salary.  See if you can find out how much it costs to go to college.  Write about what you learn.
--Tell the job you are interested in doing.
--Tell the salary.
--Tell the education you need to get the job.
--The the approximate cost of going to college.
--Tell why it is important for you to work hard and study in school today if you want to get into a good college and get a good paying job when you grow up.      
2.  Research and talk to your parents about what things are paid for with our taxes.  For example, you know that taxes pay your teachers' salaries.  Without taxes, you wouldn't have your teachers or your school.  It is a good thing that we have taxes so that we can have teachers and school to help us learn.  What else do we have as a result of the taxes we pay?  
-Tell at least three good things our taxes pay for (besides your teachers and school).
-Tell why you are glad taxes pay for those things. 
-Tell how your life would be different if these things didn't get paid for by taxes? 
Assignments Four:
Interview an adult (family members, school employees, or friends) about a financial current event of interest to you.  Submit the information you've read about the current event along with the interview questions and answers.  Prepare three summaries: 
(1) Summarize the current event,
(2) Summarize the interview,
(3) Summarize your (reflection) thoughts about the current event.  For example, answer questions such as:  Why are you interested in this current event?  What did you learn from what you read compared with what the people you interviewed told you?  Did your opinion change after the interviews?  What can you do as a citizen to impact the situation?  (See Balanced Budget Project Rubric for guidance and see current event link for help finding a news article.)
Submit your On-Line Journal.  Record a minimum of three entries describing what you've learned about managing a budget.  Use the suggestions below to help you write your journal entry.
1.  Research the salary of a government employee (the president, vice president, secretary of state, senator, governor of Georgia, police officer).  Place their salary in the Paycheck Calculator to see what they earn after taxes are taken out.  (Make sure you change the setting to "Annual" earnings.)  Also look up the job description for the government employee you are researching.  Discuss with your parents or an adult whether you think this is a fair salary for this job.  Write about what you learned.
-Tell the government employee's title and their "gross earnings"
-Tell the "net pay" after taxes have been taken out
-Tell a short summary of the government employee's job description.
-Tell why you think this is a fair salary or why you think this is not a fair salary for the job. 
-Tell what kind of education a person needs to get this job?
-Tell why you might want this job or tell why wouldn't you want this job?
2.  Look at the presentation of the terms that were presented last week.  Write a journal entry explaining something that your learned about economics from your classmates.  Also include anything you saw that you thought was a good "Wow!" factor in the presentations you watched.  Explain what you liked about the presentation. (No negative comments are welcome.)
Assignments Five: 

Based on what you have learned about a balancing a budget, write a persuasive letter to the President the United States giving the President advice about balancing the Federal budget?  For example, do some research, interview adults for their opinions, and try to answer questions such as:  Is the Federal budget in balance and, if not, why not?  How can you as a citizen help the President balance the Federal budget?  Should you pay more in taxes to help balance the budget?  What type of taxes should be increased if taxes need to be increased?  Should the President and government officials get paid less money?  How much money do they make?  Does it even matter if the Federal budget is out of balance?  How does the Federal budget affect you and your family?  Submit your research information and interview summaries to justify your advice to the President.  (See Balanced Budget Project Rubric for guidance.)

Submit your On-Line Journal with a minimum of three entries describing what you've learned about managing a budget.  Use the following questions to help you write your journal entries:
1.  What are things you could do to help your parents balance their budget? 
2.  Choose another country in the world and compare its economic state to the United States.  Are we the only country having economic trouble right now?  Tell the country you researched and tell what you read about the economics and unemployment in that country. 

Maintain your stock portfolio with accuracy.
AssignmentsS ix:
Create a "Top Ten" list of the most important things you learned from this project. (See Balanced Budget Project Rubric for guidance.)
Based on your experiences in this project, prepare answers for the following questions:
(1) How can you use math problem solving skills in real life?
(2) Where are addition, subtration, multiplication, and division used in real life?
(3) How can learning about econimics make you a better citizen?
(4) How can we balance a budget? (See Balanced Budget Project Rubric for guidance.)
Maintain your income and expense spreadsheet with accuracy.  Prepare a report with your beginning balance, total income, total expenses, and ending balance. 
Sell all the stock in your portfolio by the end of the week.  Prepare a report with your stock transactions.  Include your total beginning cost, total income gained OR total loss for the duration of the project.  You will only have a loss if you sell your stock for less than what you initially paid for your stock.  If you sell it for the same as you purchased it, you have neither lossed or gained income.  If you sell your stock for a higher price than you purchased it, the difference is your profit. 
Assignments Seven:
Students involved in this project will be presenting their project experiences to their classmates.
 Edit text

 Student Finished Products

  Terms Presentations (Fair Free Trade, Interest Rate, Sales Income Taxes, Price Incentive)
  Terms Presentations (Taxes, Fair Free Trade, Stocks Bonds, Opportunity Cost)
  Terms Presentations (Free Fair Trade, Opportunity Cost, Specialization of Region, Budget)
  Terms Presentations (Natural Human Resources, Voluntary Involuntary Exchange, Stock Bonds, Retail Wholesale, Budget)
  Terms Presentations (Sales Income Tax, Recession, Interest)
  Geometry Alternate Activities For Extra Money
  Extra Credit Economics Concept Presentation--Obesity

 Project Work Tools

Balanced Budget Term Research Checklist
Print this checklist.  This will help with successful preparation when researching your terms and preparing for presentations.
Balanced Budget Weekly Activity Checklist
Print this sheet.  It will help with organization and delegation of responsibilities for the week.

 Research Links

  Definition of Trade
  Definition of Free Trade Vs. Fair Trade
  Labour Economics
  Definition of Opportunity Cost
  What is Opportunity Cost?
  Opportunity Cost
  Chrysler Price Incentive Example
  Definition of Incentive
  Car Price Incentive Deals
  Definition of Specialization
  Specialization of Labour
  Colonial Region Specialization
  Specialization in Colonies
  Definition of Voluntary Exchange
  Definition of Involuntary Exchange
  Involuntary Taxes on Colonies
  Fair Trade Principles
  Definition of Fair Trade
  What is Fair Trade?
  Definition of Free Trade?
  Navigation Act and Free or Fair Trade
  Fair Trade Act 1986
  Definition of Human Resources
  Definition of Natural Resources
  Definition of Human Capital
  Definition of Natural Capital
  Indentured Servants in American Colonies
  Natural Resources Colonial Regions
  Definition of Budget
  What is a budget?
  The Federal Budget
  How does the Federal Budget work?
  Federal Budget Deficit
  What is a State Tax?
  Georgia State Taxes
  Sales Tax
  Income Tax
  Georgia Sales Tax
  What is a stock?
  What is the stock market?
  How the Stock Market Works
  Kidskonnect Stock Market Links
  What is a bond?
  How do bonds work?
  Bonds and Stocks
  What is better: wholesale or retail?
  Definition of Wholesale
  Definition of Retail
  Apple Example of Retail Chain Stores
  Definition of Appreciation
  Appreciation of Value Examples
  Gifts that Appreciate in Value
  Capital Goods and Services Depreciation Example
  Stock Dividend
  Definition of Dividend
  Definition of Interest Rate
  Credit Card Interest Rates
  Interest Rate Increases
  Worse than the Great Depression?
  Is the economy worse than the Great Depression
  Video Worse Than The Great Depresssion
  Australia Personal Debt Worse than Great Depression
  Taxes are Good
  President Obama Likes Taxes
  Good Reasons for Taxes
  Taxes are Good for Everybody
  Government 101 How the Government Works
  Current Events
  GREAT Economic Links for Kids!
  Current Events
  Salary of US Soldier
  California Going Broke
  California unemploye at 12 year high
  Califnornia send IOUs
  Stimulus Plan
  Stimulus Plan
  Stimulus Plan Update
  stimulus plan update
  Simple Wikipedia for Kids

 Weekly Unexpected Financial Experiences

Budget Balancing Project Card Birthday
Budget Balancing Project Card Cell Phone
Budget Balancing Project Cards Wii Win
Budget Balancing Project Card Disney Trip
Budget Balancing Project Card Vacation
Budget Balancing Project Card Scouts
Budget Balancing Project Cards Sick
Budget Balancing Project Cards Dog Sit
Budget Balancing Project Card Win Remote
Budget Balancing Project Card Wii
Budget Balancing Project Card Valentine's Day
Budget Balancing Project Card Valentine Certificate
Budget Balancing Project Card Remote Control
Budget Balancing Project Card Puppy
Budget Balancing Project Card Publix
Budget Balancing Project Card Police Care
Budget Balancing Project Card Pet Store
Budget Balancing Project Card Mouse
Budget Balancing Project Card Lottery
Budget Balancing Project Card Flat Tire
Budget Balancing Project Card Extra Work
Budget Balancing Project Card Elderly Woman
Budget Balancing Project Card Drug Store
Budget Balancing Project Card Drink Tax
Budget Balancing Project Card Car
Budget Balancing Project Card Bonus

 Alternate Activity Choices

Balanced Budget Alternate Fraction Activity
Students who need or want more practice with fractions can find alternate activity choices here.
Solid Shape Activity Problems
Alternate Geometry Activities
Alternate Activity Choices
Students who need or want more practice with place value, multiplication, division, coordinate system, or geometry can find alternate activity choices on these slides.

 Opportunities To Earn Extra Income!

Earn Extra income with Jobs
If you make a contract to earn extra income, print this form and fill it out.  Make sure the person who will pay you signs this form.
Earn Extra Income With Test and Homework Grades
The grades you receive on tests turn into money!  You receive $15.00/homework sheet turned in.  Print this sheet and follow the instructions on the bottom of the form.
Colonial Choice Board Opportunities!
Receive $300.00 for each choice board activity successfully completed.  Receive $400.00 for successfully completing the "gray" choice board activity.
Earn Extra Income with Success Maker Grades
The grade your receive on each Success Maker you complete turns into money!  Print this form and follow the instructions on the bottom of the form. 
Balancing Budget Vocabulary Term Opportunties!
Earn $100.00 for successfully completing each additional vocabulary term 5-minute "show and tell" description.  You may continue to earn extra income this way throughout the Balancing Budget project.

 Balanced Budget Rubrics

Balance Budget Stock Portfolio Rubric
Students will use this rubric for guidance when maintaining their stock porfolio throughout the project.
Balance Budget Spreadsheet Rubric
Students will use this rubric for guidance as they prepare their spreadsheet and consider what type of supporting documentation to save in an organized manner.
Balance Budget Journal Rubric
Students will use this rubric for guidance when creating their weekly online journal entries. 
Balanced Budget Project Rubric
This rubric will be used for all project work.  Please speak with Mrs. Wiltgen for clarification about how it applies to a specific activity you've chosen prior to beginning your activity if you have questions.  Adjustments will/can be made if needed. 

 Stock Market Information

  Google Finance
Go to this web site to find the stocks you want to purchase.  You can buy and sell stocks as often as you'd like during this project.  Use this site to follow whether your stocks are increasing or decreasing in value.  If you choose to sell your stock, remember you must pay income tax on any profit you make!  Print out a copy of the information for your records.
  Student Stock Portfolios
Students have no more than $1,000.00 to spend on their initial stock purchases.  They will record all their stock transactions in their individual portfolios on Mrs. Wiltgen's Wiki.

 Budget Spreadsheet

Budget Spreadsheet

 Educational Reading

  Article: Where Can My Kids Learn About Money
  Georgia Council On Economic Education
  Council for Economic Education
  Kidslovetoknow Article Economics for Kids
  Family Online Article Economics for Kids
  What is Teach 21--visit the website and learn