Economics & Personal Finance (EPF)
Course Outline for 2015-2016
Mr.Babichenko (Room C306)
Contact Information: Denis.Babichenko@apsva.us
Web-site: apsva.us/wakefield
(Click on (1) “Departments,” (2) Social Studies, (3) Denis Babichenko)
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Introduction:
What is Economics? Here are some answers (easily obtainable on-line ):
(1) "The study of the production, distribution and consumption of wealth in human society."
(The Economist’s Dictionary of Economics)
(2) “Economics is the study of how individuals and groups make decisions with limited
resources as to best satisfy their wants, needs, and desires".
(3) "Economics is a social science that studies human behavior. Economics has a unique
method for analyzing and predicting individual behavior as well as the effects of
institutions such as firms and governments, or clubs and religions." (Indiana University –
Purdue University, Indianapolis)
(4) “Economics is the study of making choices." (St.Michael’s College)5
Here is what is meant by “Personal Finance:”
All financial decisions and activities of an individual, that include, but not limited to,
budgeting, insurance, savings, investing, debt servicing, mortgages, and more. Personal
finance looks at how your money and future is managed.6
Course Description:
This course of study for students in grades 10-12 explores the general scope of economics and
personal finance. Students will explore the American enterprise system including such concepts as
supply and demand, labor and industry, government fiscal policies, finance and investment, the role
of the consumer, global trade, and budgeting. Students will learn the impact of people’s choices on
American and global economies.
The organizing theme for this course is: CHOICE. Students will learn that people make choices
in every facet of life, choices involve cost, people respond to incentives in predictable ways,
people create economic systems which influence individual choices and incentives, people gain
when they trade voluntarily, and choices have consequences which impact global economies and
future conditions and opportunities.
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http://witzkeberry.com/business-blog/2013/the-6-types-of-small-business-owners/
http://www.stylecraze.com/articles/junk-food-vs-healthy-food/
http://jessicaleeblog.com/category/branding/
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http://blog.paulahogan.com/wealthinking/bid/242462/Human-Capital-Your-Family-s-Most-Valuable-Asset
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http://economics.about.com/cs/studentresources/f/whatiseconomics.htm
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http://www.investopedia.com/terms/p/personalfinance.asp
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Economics and Personal Finance Blended Curriculum
This Economics and Personal Finance course includes blended instruction with approximately 1/3
of the course taught through online resources. Additionally, students will take the W!SE Financial
Literacy Test at the end of the first semester. Successful completion of the course and a passing
score on the W!SE test will earn the following graduation requirements:

1 Standard Credit of Economics and Personal Finance (requirement for both
Standard and Advanced Diplomas)

1 Career and Technical Education Credential (required for students earning a
Standard Diploma)

1 Online Course Requirement (requirement for both Standard and Advanced
Diplomas)
Online component: Students who entered a Virginia high school in 2013-2014 are now
required to take one online course for graduation. Economics/Personal Finance will be
taught as a hybrid online course which meets this requirement. As a result, students will
complete some units online to satisfy this graduation component. Any online work not
completed during the school day must be completed out of class, on the student’s own time
(e.g. Warriors’ Period, before/after school.). Some online work in the class will be a part
of students’ homework assignments and projects. Any student who is absent must make up
the computer component in a timely fashion per their teacher’s directions and deadlines.
Certificate component: Students who are candidates for a standard diploma must earn a
certificate as a graduation requirement. All students will take the W!SE financial literacy
test in late December or early January. If students pass this assessment, they will earn a
certificate in personal financial planning and meet this state graduation requirement.
Textbook: Our textbook is Economics Alive! The Power to Choose and is accessible via
Blackboard 24/7. If you do not have internet access at home, print textbooks and chapters are
available for overnight checkout on a first-come, first-served basis.
To access the online textbook, go to: teachtci.com
Click on Student Sign In and enter the following:
Teacher e-mail:
Username:
denis.babichenko@apsva.us
Students enter any of the following generic usernames:
Whsepf41, whsepf42, whsepf43, …. whsepf60
(So, your username is: Whsepf, and then any number between 41 and 60)
Password:
BabichenkoEPF
Grading Policy and Grading Categories:
I. Grades will reflect student achievement and not student behavior.
II. Quarterly grades will be determined based on the following categories of formative
and summative assessments:
Formative Assessments:
Summative Assessments:
Interactive Journal – 20%
Chapter Quizzes – 15%
Classwork/Homework – 15%
Projects – 25%
Unit Tests – 25%
Explanation of Each Grading Category:

Projects – Students will be asked to complete individual and/or group projects. Directions
and grading rubrics for projects will be provided to the students ahead of the projects’ due
dates. Some projects will be completed by the students in class. The completion of others
will involve student work outside of the class (long-term projects).

Unit Tests – At the end of each unit students will take unit tests. Students will demonstrate
their mastery of the material by completing various types of assignments, such as multiple
choice questions, matching, short answers, graphing, etc.

Interactive Journal – Throughout the school year, students will be asked to respond to
warm up questions (economic enigmas), reflect on their personal economic/financial
habits, and/or relate concepts introduced in class to current events. Some student responses
to journal entries will be required to be submitted online either through Google Docs,
Google Classroom, or Blackboard. Others will be required to be submitted as hard copies.
Most journal entries will have a writing format requirement that follows The Jane Schaffer
Writing Method. Student responses will be collected multiple times each quarter and
graded according to a grading rubric that will be distributed to students ahead of time.

Classwork/Homework – Students will work on variety of class work and homework
assignments during the school year. The assignments will be graded randomly.

Quizzes –Quizzes will be administered in class throughout the year. Students will be
allowed to use homework handouts and notes on quizzes.
III. Final quarterly grades will be calculated on the Arlington Public Schools scale:
A = 90-100%;
B+ = 87-89%;
B = 80-86%;
C+ = 77-79%;
C = 70-76%;
D+ = 67-69%;
D = 60-66%; and
E = 0-59%.
For quarterly grades, decimals of .5 and above will round up to the next highest
number whereas decimals below .5 will round down.
In addition to achievement, work habits as noted in the report card comments, will be
evaluated for each course using the following symbols:
+ = Surpasses Expectations
# = Meets Expectations
^ = Approaching Expectations
N-= Needs improvement
IV. Final Course Grades will be determined in accordance with APS Policy
Implementation Procedure 20-5.150 (Communication – Reporting to Parents).
The final course grade will be calculated as follows:
1) Quarterly grades and the final exam will be converted into quality points as
follows:
A=4
B+ = 3.5
B=3
C+ = 2.5
C=2
D+ = 1.5
D=1
E=0
2) The final grade average will be calculated by averaging the quality
points of the four quarterly and the final exam with equal weight (i.e.,
20% each) as follows:
(Q1 + Q2 + Q3 + Q4 + FE) / 5 = Final Quality Point Average
2) Final Quality Point Averages will be used to determine a student’s final grade
as follows:
Final Quality Point Average
3.75 to 4.0
3.25 to <3.75
2.75 to <3.25
2.25 to <2.75
1.75 to <2.25
1.25 to <1.75
0.75 to <1.25
<0.75
Final
Grade
A
B+
B
C+
C
D+
D
E
3). Students who have an “A” average for their four quarterly grades may be
exempted from taking the final exam by their teacher. An “A” average means that
students have earned at least 15 quality points from their four quarterly grades. The
possible combinations of quarterly grades that would qualify a student to be
exempt from the final exam would be:
a. 4 A’s
b. 3 A’s and 1 B+ or 1 B
c. 2 A’s and 2 B+’s
In each of these cases, each quarterly grade would count 25% of the final
grade.
V. Late Work will be accepted and graded under the following conditions:
1) Homework, class work, or other formative assessments may be turned in late for
reduced credit up until the last day of the current unit (e.g., the day/rotation
prior to that unit’s culminating test or project), but no credit will be given after the
last day of the unit.
2) Homework, class work, or other formative assessments will receive no credit
if they are:
a). copied or plagiarized from another student or other unauthorized source;
b). turned in after the conclusion of a unit; and/or
c). turned in after the completion of a quarter.
3) Students who are absent from class will have two school days (one block
period) to complete homework, class work, or other formative assessments
after they have returned to school. Students who are absent for two or more
consecutive class periods will have up to one week to complete homework, class
work, or other formative assessments for full credit even if this time would extend
beyond the current unit or quarter.
4) Students will be allowed to make up tests, projects, or other summative
assessments up to four school days (two block periods) after the due date of
the assessment even if this time would extend into the next quarter.
Economics and Personal Finance – UNITS OF STUDY
(This pacing chart is subject to change during the school year.)
Units
Unit 1: Decision Making and
Consumer Skills
Unit 2: Money, Banking, and
Financial Institutions
Unit 3: Credit and Loan
Functions
Unit 4: Insurance
Unit 5: Taxes
Unit 6: Personal Budgets and
Financial Planning
Unit 7: Investing
State EPF
Standards
1a-c
10 a – k
4a&c
6a&b
7a
12 a – h
18 a & b
13 a - i
14 a – c
15 a – e
16 a – f
11 a – f
17 a – f
18 d & e
18 b, c, & f
W!SE Financial Literacy Topics or Econ
Alive! Textbook Chapters
Money, Budgeting, and Financial
Planning
Chapter 1: Economic Way of Thinking
Money and Banking
Chapter 8: Money, Banking, Saving, and
Investment
Cost of Money, Credit, and Financial
Planning
Insurance and Financial Planning
Money and Financial Planning
Chapter 12 Taxes and Taxation
Budgeting, Money Management, and
Financial Planning
Investing, Money Management, and
Financial Planning
Unit 8: Introduction to
Economics
Unit 9: How Markets Work:
Demand, Supply, and
Equilibrium
Unit 10: Microeconomics –
Types of Markets and
Business Organizations
Unit 11: The Role of
Government in the Economy
Unit 12: Macroeconomics –
Fiscal and Monetary Policy
Unit 13: International Trade
and Globalization
1e&f
2 a, f, & j
9a&b
2 e, g, h, & j
3a-d
2c–j
4a–d
5a–d
8a-e
7a-d
9a–g
Chapters 2: Economic Decision Making
Chapter 3: Economic Systems
Chapter 4: Gains from Trade
Chapter 5: Demand and Supply
Chapter 6: Markets, Equilibrium, and
Prices
Chapter 7: Market Structures and Market
Failures
Chapter 9: Entrepreneurs and Business
Organizations
Chapter 10: Human Capital and the
Labor Market
Chapter 11: Government and the
Economy
Chapter 13: Measuring the Economy
Chapter 14: Fiscal and Monetary Policy
Chapter 15: The U.S. and the Global
Economy
Chapter 16: The Costs and Benefits of
Globalization
Supplies
Students will be responsible for bringing their own supplies to class each day. The following
materials are required each class period:




3-ring binder with lined paper;
a spiral notebook or composition book;
a folder; and
a pen and a pencil.
Use of Videos in Class
Videos and movie clips will be used throughout this course. These videos are sometimes
dramatized to capture students’ attention or to express a particular perspective. Students will be
taught to critically view all videos and movie clips to understand that there are different viewpoints
and perspectives used to explain events and concepts.
Blackboard and Schoolwires
Many class materials and information will be available on the Economics/Personal Finance
Blackboard page. However, the best way to keep up with the pacing of the course, including
missing work, links to class handouts, as well as due dates for homework assignments, is by
accessing Mr.Babichenko’s EPF web-page through Schoolwires (see specific steps at the top of the
front page of this syllabus). Students will also use other electronic resources, including, but not
limited to, EverFi, Themint.org, Econlowdown.org, GenIRevolution.org, etc.
Synergy
Throughout this school year, grades will be posted in a timely fashion. It is the student’s
responsibility to check his or her grade through the student login routinely and often. Any
suspected incorrect assignment or assessment grade must be brought to the teacher’s attention
within a week of the grade being posted on the website. If the student does not initiate action
within one week of the grade being posted, the original entry will stand.
Cell Phones
Cell phones must be off and away during class. Electrical sockets may not be used for cell phone
charging, even if the cell phones are turned off.
Extra Help Outside of Class
Mr. Babichenko is available for help during the Warriors’ Period, during “A” Lunch, and after
school by request.
Contacting the Teacher
The preferred way for a parent or guardian to contact their student’s teacher is by e-mail.
My email address is: denis.babichenko@apsva.us
Sign and return the part below the line only, acknowledging your reception and
understanding of the requirements and expectations listed in this syllabus.
_______________________________________________________________________________________
Arlington Public Schools does not allow teachers to discuss students’ grades
or progress in a course with a parent or guardian via e-mail without specific
written permission from the parent or guardian. Please indicate whether or
not you would like to be able to discuss your student’s grades via e-mail by
checking the appropriate box and signing below.
□ I do
□ I do not
give permission for Mr.Babichenko to discuss my
child’s grades and progress in this course via e-mail.
Student’s Name: ____________________________________________________________
Parent/Guardian Name: _____________________________________________________
Parent/Guardian Signature: __________________________________________________
Best Way(s) to Reach Parent(s)/Guardian(s) (email/phone #):
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