Making Responsible Economic Decisions

Personal financial knowledge and skills can help one make good financial decisions. But financial decisions are made in a world that is affected by interest rates, prices, the business cycle and the state of the economy, job opportunities, international issues, events, and realities, and so on. Therefore, financial education is half the job. Helping youth understand the economic forces and realities that can affect their financial decisions is the other half.

Please Note: Teaching Units provided are for support and consideration by teachers and are not prescriptive.

Learning Map and Supports for Instruction

The “Learning Map” identifies teaching opportunities in Alberta’s curriculum for each topic and you will find them as part of the Support Teaching Materials provided here. Teachers can, of course, integrate the target areas of financial knowledge, skills, attitudes, and behaviours anywhere they can find a fit. The Supports for Instruction provide videos, animations, and links to other resources to support teachers in their efforts to improve the financial literacy of their students.

The Economy and Economic Citizenship - Division III: Gr. 7-9

Knowledge

  • Describe how “responsibility” for the outcomes of decisions one makes can apply to being responsible to oneself and to others

  • Personal financial decisions that often have impact on others

  • Examples of financial/economic decisions that have had a negative or positive effect on the environment

  • Examples of how decisions they have made have affected others

  • Understand that voting is an important responsibility

  • How the decisions and actions of individuals, organizations, businesses, and governments can affect economic conditions, opportunities, and the environment

  • Appreciate different views people have on the role and responsibilities of government in the economy and our society

Skills

  • Understanding the responsibilities associated with decisions they will make

  • Foresee the potential consequences of their decisions

  • Recognize the possible accumulated impact of individual decisions on the well-being of others and on the environment

Attitudes/Behaviours

  • Recognize decisions have consequences and consider the consequences of their decisions before making them

  • Consider the possible impact on others and the environment when making money decisions

  • Accept responsibility for decisions they make

  • Learn from decisions that do not work out well or which had a negative effect on others

  • Make decisions, recognizing responsibility, that have a positive impact for themselves, others, their community, and beyond