Unit One Olympiad!

Journal 7 OBJECTIVE: Students will be able to… Successfully demonstrate mastery of the Unit 1 standards! AGENDA: Announcements Demonstrations of Superior Skill Final Reminders Write a paragraph explaining why we would have a unit on goal setting and planning in a financial literacy class. Be as specific as possible; explain what specifically you will be able to do with the knowledge you got this unit, using specific terms and academic language. This is our only super serious thing today, so take it seriously. A paragraph means 5+ sentences, using good grammar ;)

Important Reminders!! Test next time– obviously I’m also going to collect your journals next time. I will grade it out of 5(?). If you’re missing some, you may go on the website and get my PowerPoints to find them and do them by next time. Remember, complete sentences unless the slide says otherwise. Even if your buddy in the class swears that I said you could just use bullet points I’m also looking for a completely thought out response; that will typically mean at least 3 sentences (unless I say otherwise)

Expense Tracker Daily Reminder Consider yourself reminded, son

Rules of the Olympiad Today, you will be competing in teams for honor, glory, and sweet, sweet bragging rights. Awards will be given out based on the points your team accumulates throughout the class period. Some of these points will be directly tied to performance in feats of strength and mental cunning; others will be given out based on effective use of time and behavior. I, Mr. Bird, reserve the right to give and take away points as I see fit. Even though we’re going to have some fun today, let’s maintain order and civility in the classroom. Please stand and say “I agree to the Rules of the Olympics”

Opening Ceremonies Break into 4 equally sized teams and come up with a team name that will strike fear into the hearts of your enemies Write your team name on one of the score keeping lines

Stretches Stand on your tip toes… and come back down Grab your elbow with your other hand and pull it across your body to your shoulder… Now the other side Reach down and (try to) touch your toes

Pass the Point Instructions In this challenge, each of you will be competing directly against someone from each of the other teams. The goal is to control “The Goods” at each of the randomly spaced “Checkpoints.” To gain control of The Goods, you must be the first to answer the question I ask correctly. If nobody in your group can answer the question, control of The Goods stays with whoever had it last.

“The Goods”

What is a desire to have what you want and have it now?

Instant Gratification

Another name for what you give up to get what you want

Opportunity Cost

The Law of Supply and Demand affects which third variable?

Price

Checkpoint!

This term describes the financial atmosphere in which you are trying to fulfill your goals

The (Economic) Market

Price goes ______ as supply goes up

Down

Checkpoint!

This is waiting until the most opportune time to get what you want

Delayed Gratification

Who is ultimately responsible for your finances?

Mr. Bird! You!!!!

A condition of wants in a world with limited resources

Scarcity

As demand for an item goes up, it’s price will _________

Increase

Checkpoint!

Golden Round!!!

Name one of the 5 steps of financial planning

Determine your Current Situation, Establish Goals, Look at Options/Alternatives, Make a Plan of Action, Reevaluate

The four things to look at while determining your current situation

Savings, Income, Expenditures (Expenses), Debts

Competitive Pass the Ball!!! The Next Event You know it… You love it… You probably dream about it… Competitive Pass the Ball!!! Last 5 standing earn an increasing number of points for their team

Flyswatter Your team will line up near the front of the classroom, and at the start of each round, the person at the front of the line will approach the projector. I will ask a question and the first person to smack the correct answer with their team’s flyswatter wins a point. This is a test of speed not strength. If you attempt to damage my stuff or each other, I will take away points

Flyswatter Savings Opportunity Cost Instant Gratification Planned Expenditures Income Reevaluate Supply and Demand Make a Plan Look at your Options Determine Your Situation Debts Scarcity Establish Goals