More discussion and resources on developing financial literacy at high school

I have been surprised at the number of resources I finding on the topic of financial literacy. I came across this post from a teacher who actually teaches financial literacy courses in the high school. His list of resources need to be bookmarked as valuable references. For example:

FinLitTV 

TeenDollars.org

The Stock Market Game

The budget challenge simulation

Awesome Island” game focusing on decision making, credit, debit, money management, insurance, investing, etc. Everfi offers similar simulations.

The idea of an entrepreneurship class is another new one that I hadn’t thought of before, but it certainly is intriguing and could be a real-life application of coursework, too!

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Digital textbooks for the classroom

I recall a conversation when I learned that one of the larger annual expenditures for MCS is on textbooks. This can change with access to digital textbooks. They are on average 53% cheaper to develop and print, and this is a savings that can be passed on to the school. Equally important is the stewardship of natural resources that is involved with the publication of these texts. From a student’s immediate perspective, such texts are significantly lighter to carry around and they provide immediate 24/7 access to the materials. This infographic highlights the textbooks of tomorrow.

Virtual texts are becoming more and more interactive, and this is impacting the learning experience for students. An example that I came across was the HMH Fuse interactive text for algebra and geometry. These texts allow students to interact with the material, and include video tutorials, “scratch pads” to actually work out math problems or make notes, animated guidance in error analysis, and hyperlink access to glossaries. Books may embed games as part of the text process and inline quizzes to help students gauge their progress on the material. Texts such as these are immediately accessible and can include syncing features that allow the teachers to access assessment data on student progress from the books. This video highlights the student’s experience with such a text (I admit that this is a promotional video developed by the publisher, but it does suggest how students can take to such an interactive text).

Another version of the virtual text is one that is custom designed and created in-house. When teachers have the time and desire, it is possible to self-publish a text that meets local needs and remains completing aligned to learning standards. This article describes one school in Minnesota that accomplished just this. Their budget crisis served to motivate a group of teachers to develop a text and supporting videos for their subject area.

Reference:

Oseland, C. (2011, Sept. 28). Budget crisis inspires award winning curriculum redesign at Byron Senior High School. THE Journal, accessed Nov. 14, 2011.

The need to develop media literacy

“We no longer live solely in a print-centric world” (Baker, 2010, p. 133). We all have access to the Internet, television, music, images, movies and other emerging technologies. While this seems so evident, why is that schools often fail to help students foster the necessary critical skills that will help them properly access this media? This represents a key 21st century fluency: media literacy.

The 21st Century Fluency Project notes that media literacy is an important fluency that encompasses two components:

1) The ability to look analytically at any communication media to interpret the real message, how the chosen media is being used to shape thinking, and evaluate the efficacy of the message.

2) The ability to create and publish original digital products, matching the media to the intended message by determining the most appropriate and effective media for that message.

I am learning that teachers need to be proactive in teaching media literacy skills. Instructional recommendations suggest that this should not be a separate class, but a topic that is integrated across the curriculum. Media literacy instruction should includes lots of hands-on experiential learning to assist students as they encounter media in their research and daily lives. Through authentic exposure to various forms if media, students are offered the opportunity to develop this set of skills. This can take place as part of individual reflective work or in cooperative group settings.

Baker (2010) notes that goals of media literacy instruction are “to create critical thinkers and viewers who have the skills, knowledge, and abilities necessary to understand, analyze, and create media messages, as well as to comprehend their purpose and audiences” (p. 143). He offers a number of interesting classroom applications across the curriculum. It will be worth returning to this chapter again.

It is important, however, that we provide the necessary professional development to support teachers as they engage students on this necessary fluency.

Reference
Baker, F. W. (2010). Media literacy: 21st century literacy skills. In H. Hayes Jacobs (Ed.) Curriculum 21: Essential education for a changing world, (133-152). Alexandria, VA: ASCD.

http://www.fluency21.com

The call for financial literacy instruction

An interesting news item: The Education Secretary has started encouraging the President’s Advisory Council on Financial Capability to consider recommending that financial literacy instruction be integrated into the K-12 curriculum. Rather than only a high school elective, Secretary Duncan has even suggested that this be a core subject that students may experience in the lower grades.

President Obama convened the council to help people understand financial matters and make responsible financial decisions. This was made evident during the “Great Recession” as far too many people appear to lack the essential financial planning skills to handle their money wisely and invest responsibly for their future.

In addition to the more traditional topics of budgeting, personal finances, credit and loans, Secretary Duncan noted that a financial literacy curriculum could include topics such as the stock market, investing,  and retirement planning.

As Corbin (2011) notes, overall teacher preparedness for instruction in this area may be an issue. This highlights the need to instructioanlly support all teachers with the curricular and instructional demands that they face in the classroom.

Reference:

Corbin, K. (2011, Nov. 8). Education secretary appeals for financial literacy, planning instruction in schools. Accessed November 9, 2011 through onwallstreet.com.

Financial literacy instruction remains important

I discussed the “case for financial literacy instruction” a few months back. Today, I came across some additional resources that may be helpful regarding this important recommendation. Adams (2011) noted that the possibility of accumulating student debt in college during these difficult times is pushing students to learn more about financial literacy. There are currently four states that mandate a financial literacy graduation requirement, and 19 additional states have integrated financial education into their high school curriculum. There is no such requirement in the state of Washington, but this is important enough an issue for student development and stewardship that I have been watching for financial literacy electives when reviewing possible online providers. I am also learning that there are numerous free resources available to help supplement a class curriculum on this topic, including Jump$tart Coalition for Personal Financial Literacy , National Endowment for Financial Education , National Foundation for Credit Counseling and the US Mint.

Reference:

Adams, C. J. (2011, Oct. 28) High schools, colleges push financial literacy. Accessed Nov. 2, 2011 through Education Week.

http://www.orangekids.com/teacher/additional-resources-literacy.aspx

The culminating project

A current WA high school graduation requirement is some form of a culminating project.  Theoretically, this project should be student initiated and serve as an important capstone achievement to document student learning while at high school.

Gardner (2011) tells of her school’s implementation of the “senior project.” She describes the project as a relevant, rigorous, and authentic assessment. It serves to strengthen connections with the local community and has become a “student-driven rite of passage” to celebrate one’s high school experience.  While completed in a student’s senior year, it is, actually, a demonstration of skills and knowledge acquired throughout high school, if not throughout all the K-12 years.

The process  includes:

  1. Students begin the project by selecting a topic of their choice. They are asked to describe the topic and explain how this will expand their learning in a letter that must be submitted and then approved in committee.
  2. The student then addresses the “4 P’s”: paper, project, portfolio, and presentation throughout the year.
  3. Paper – The students write a thesis-driven research paper on their topic. It includes has a specified length, a required number of references, appropriate visuals, and must include a report on an interview with an expert associated on the topic. Once the paper is approved, students can proceed to the next ‘P’.
  4. Project – Students then spend some time gathering data or conducting a field experience with a mentor in the field/community. A minimum number of hours is prescribed as part of the process. Students need to set-up these opportunities themselves.
  5. Portfolio – Students must document their project time with evidence in a digital portfolio. This will likely include video artifacts, journal entries, podcasts, images, etc.
  6. Presentation – Once the project and portfolio have been successfully completed, students share their project in a formal presentation before a panel of teachers, advisors, mentors and community members.

Gardner mentions a number of benefits in addition to the authentic learning experience that asks students to solve problems, read and write critically, and analyze the validity of information on the Internet. For example, students develop courtesy skills that are required in networking, foster a respect for academic integrity, learn to adhere to strict deadlines, dress professionally, and keep commitments. The feeling of empowerment after completing a significant project cannot be underestimated  either.

Reference:

Gardner, N. (2011, Oct. 26) Senior projects: A cure for senioritis. Education Week Teacher. Accessed Oct. 27, 2011 through Education Week.

The case for financial literacy instruction

The Canadian Council on Learning recently released a report on the need for financial literacy instruction. This report highlighted recommendations from the Canadian Task Force on Financial Literacy and found that financial literacy instruction is a critical component to help citizens make responsible financial decisions that will help them achieve their personal goals and enhance their quality of life.

In this sense, financial literacy is “the ability to apply to apply knowledge across a range of contexts (both predictable and unexpected situations), and includes the ability to manage and resolve financial problems and opportunities” (Cappon, 2010, slide 7).

The task force argues that students, too, need to be equipped with 1) the knowledge of personal and broader financial matters, 2) the related skills to apply this knowledge appropriately in a variety of situations, and 3) the self-assurance to make necessary financial decisions confidently. As such, financial education and learning is an “essential skill” that needs to be included in the local school curriculum. In fact, it has been noted that the OECD will be including a financial education component in the 2012 Programme for International Student Assessment (PISA) (Cappon, 2010, slide 6).

Clearly, time needs to be set aside to address this important subject in our schools.

Important topics that need to be addressed include learning about budgeting, saving, investing, borrowing, keeping financial information safe, credit ratings and using credit wisely, understanding your rights and responsibilities as consumers, dealing with financial institutions, etc.

This instruction should address both the day-to-day situations that high school students may face, such as comparing prices online or saving for the latest gadget, and also help prepare them for future financial encounters, such as managing day-to-day living expenses in college, navigating financing options for a car or a home mortgage, deciding on investments, etc.

Ultimately, any instruction in fostering financial literacy should assist students to come to understand the economic implications of their financial decisions. Moreover, such instruction in a Christian High School is particularly important as it provides a discipleship opportunity to foster a biblical view of finance and stewardship of money.

Resources:

Canadian Council on Learning. (2010, Dec.). Money-wise: The growing importance of financial literacy in Canada.  Retrieved Dec. 14, 2010 at http://www.ccl-cca.ca/CCL/Reports/LessonsInLearning/LinL201011FinancialLiteracy.html

Cappon, P. (2010). The Changing face of literacy: The financial literacy imperative. Accessed Dec. 14, 2010 at http://www.ccl-cca.ca/pdfs/LearningLink/FinancialLiteracyPPT_EN.pdf

Task Force on Financial Literacy. http://www.financialliteracyincanada.com/index.html. Accessed Dec. 14, 2010.

http://www.yourmoney.cba.ca/