JA Economics for Success® is recommended for 7th Grade. the program provides practical information about personal finance and the importance of identifying education and career goals based on a student’s skills, interests, and values. Following participation in the program, students will be able to:
- Explore their skills, interests, values, and the world of work to make informed education, career, and life decisions.
- Develop their knowledge of personal finance so they can apply strong financial management skills regardless of their income.
Session Overviews & Objectives
Session One – Mirror, Mirror
Overview: Students make choices to better understand the concept of self-knowledge—the awareness of their skills, interests, and values—as they consider education, careers, and other life choices.
- Use personal reflection to explain self-knowledge.
- Apply their skills, interests, and values to help determine a potential career path.
Session Two – Be a Success
Overview: Students learn how to set goals for their financial future. They play the Be a Success Game to see the connection between personal finance, education, and careers.
- Identify the connection between goal-setting, personal finance, education, and career choices.
- Apply decision making to education and career choices.
Session Three – Keeping Your Balance
Overview: Students receive Occupation Cards and observe how different jobs provide different monthly salaries. Based on those monthly salaries, students evaluate the opportunity cost when making budget decisions.
- Recognize that a balanced budget is important for all workers.
- Define the term income and differentiate between gross and net income.
- Name ways to balance a budget.
Session Four – Savvy Shopper
Overview: Students examine how consumers pay for goods and services. They discuss the advantages and disadvantages of using debit and credit cards.
- Identify the differences between debit and credit cards.
- Explain the advantages and disadvantages of both cards.
- Recognize the importance of taking personal responsibility for financial decisions.
Session Five – Keeping Score
Overview: Students examine how a credit score is determined and learn about the consequences of a positive and negative credit report.
- Describe the favorable or unfavorable consequences of a high or low personal credit score.
- Explain actions that cause a credit score to go up or down.
Session Six – What’s the Risk?
Overview: Students learn that life involves risk and that insurance and personal responsibility help to reduce the financial consequences of loss or injury.
- Explore the cost and consequence of risk.
- Explain how insurance provides a method to minimize financial risk.
- Identify the opportunity cost of having insurance.
- Assess how personal responsibility plays a part in minimizing risk.
- Includes a series of six sessions recommended for students in middle school.
- Average time for each session is 45 minutes.
- Materials are packaged in a self-contained kit that includes detailed plans for the volunteer and materials for 32 students.
- Provides practical information about the following key topics: choices and self-knowledge, education and career options, budgeting, using credit, credit score, and financial risk.
- Session-specific, student-friendly materials included to increase student interaction and emphasize JA’s experiential approach to learning.
- Correlates well to state social studies, English, and math standards, as well as to the Common Core State Standards in English/language arts and mathematics.
JA Economics for Success enhances students’ learning of the following concepts and skills:
Concepts—Budget, Credit, Credit card, Credit score, Co-pay insurance, Debit card, Decision making, Deductible, Goal setting, Gross income, Higher education, Interest, Interests, Needs and wants, Net income, Opportunity cost, Policy, Premium, Risk, Self-knowledge, Skills, Values, World of work
Skills—Analyzing information, Critical thinking, Inquiry and critical thinking skills, Interpreting data, Math calculations, Oral and written communication, Problem solving, Reading for understanding, Self-assessment, Working in groups and pairs presentation, Oral and written communication, Organizing information, Reading for understanding
Courtesy of Junior Achievement of South Dakota: