Georgia Financial Literacy Standards: Helpful Teacher Resource

Georgia Social Studies Standards Alignment

Find out which of our lessons or games reinforce the individual
knowledge statements from the Georgia Social Studies Standards of Excellence.

Legend:

Long-Term Game
Comprehensive Chapter
Short Lesson
Interactive Calculator
Includes Automatically-Graded Assessment

Standard	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Fundamentals of Economic Decision-Making
Explain that scarcity is a basic, permanent condition that exists because unlimited wants exceed limited productive resources.	Lesson – Why Is There Scarcity? Lesson – Mortgage Math and Ratios
Compare and contrast strategies for allocating scarce resources such as by price, majority rule, contests, force, sharing, lottery, authority, first-come-first-served, and personal characteristics.	Lesson – What is Economics?
Define and give examples of productive resources (i.e. factors of production): natural resources (i.e. land), human resources (i.e. labor and human capital), physical capital and entrepreneurship.	Lesson – Why Do Some Jobs Pay More Than Others? Lesson – How Global Trade Shapes Our Economy Lesson – What Is Comparative Advantage?
Apply the concept of opportunity cost (the forgone next best alternative) to personal choices, as well as business and government decisions.	Lesson – What is Opportunity Cost?
Explain that rational decisions occur when the marginal benefits of an action equal or exceed the marginal costs.	Lesson – Marginal Benefit and Cost
Explain that individuals, businesses, and governments respond to positive and negative incentives in predictable ways.	Lesson – Carrots, Sticks, and Your Wallet – All About Incentives
Analyze how command, market and mixed economic systems answer the three basic economic questions (what to produce, how to produce, and for whom to produce) to prioritize various social and economic goals such as freedom, security, equity, growth, efficiency, price stability, full employment, and sustainability.	Lesson – Comparative Economic Systems
Compare the roles of government in different economic systems with regards to providing public goods and services, redistributing income, protecting property rights, resolving market failures, regulation and providing consumer protections.	Lesson – Comparative Economic Systems
Explain how investments in human capital (e.g., education, job training, and healthcare) can lead to a higher standard of living.	Lesson – What is Specialization? Lesson – Why Do Some Jobs Pay More Than Others? Lesson – What Is Comparative Advantage?
Explain how investment in equipment and technology can lead to economic growth.	Lesson – What is Economic Growth? Lesson – Benefits of Competition Lesson – What Is Comparative Advantage?
Explain how individuals, businesses, and governments benefit from specialization and voluntary, non-fraudulent trade.	Lesson – What Are Property Rights? Lesson – How Global Trade Shapes Our Economy Lesson – What is Specialization?
Illustrate economic growth using a production possibilities curve.	Lesson – What is Economic Growth?
Personal Finance	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Apply a rational decision-making model to evaluate the costs and benefits of post-high school life choices (i.e., college, technical school, military enlistment, workforce participation, or other option).	Lesson – Go to College or Start Working? Lesson – Starting a Business 101 Lesson – Evaluating Big-Ticket Purchases Lesson – Are Internships Worth It?
Evaluate costs and benefits of various ways to pay for post-high school life including scholarships, the HOPE scholarship, employment, work-study programs, loans, grants, savings, prior investments, and other options.	Lesson – Financing Your Education Lesson – Go to College or Start Working?
Identify necessary documents needed to complete forms like the FAFSA or scholarship applications.	Lesson – Financing Your Education Lesson – How to Use Debt to Your Advantage
Apply a rational decision-making model to evaluate other major life choices like employment opportunities, renting a home vs. buying, selecting a mortgage, and buying a car.	Activity – Rent or Buy: Which is Right for You? Activity – Find Out Your Monthly Home Budget Activity – Calculate Your Car Loan Payments Lesson – Mortgage Options for First-Time Homebuyers Lesson – How to Use Debt to Your Advantage Lesson – The Car Buying Checklist Lesson – Evaluating Big-Ticket Purchases
Describe how individual financial decisions can help create generational wealth.	Lesson – What is Wealth? Lesson – A Simple Yet Powerful Way to Build Wealth Lesson – The Secret to a Comfortable Retirement Lesson – The Cost of Raising a Family
Compare different types of income including hourly wages, salary, tips, independent contractor services (Form 1099), dividends, and capital gains.	Lesson – What’s in Your Compensation Package? Lesson – A Strategy to Build Wealth, Not Debt
Review and complete a sample federal individual income tax form 1040.	Lesson – Income Tax Filing Tips & Tricks
Describe the basic components of a paystub including gross pay, net pay, and common deductions (i.e. federal and state income tax, Federal Insurance Contributions Act (FICA which includes Social Security and Medicare), and elective deductions like 401K, insurance and tax-deferred savings).	Budget Game – Core Component Lesson – What’s in Your Compensation Package?
Analyze the basic components of a personal budget including income, expenses (fixed and variable), and the importance of short-term and long-term savings.	Budget Game – Core Component Lesson – Break Free From Money Stress with a Budget Lesson – Achieve Financial Goals with a Spending Plan
Explain how to reconcile a checking account, either online or on paper, including how to account for transactions that have not been posted (i.e. checks, weekend debit card transactions, or monthly auto-pay transactions) and how this helps avoid overdraft fees.	Lesson – Balance Your Books in 10-Minutes Lesson – How Debit Cards Work Lesson – What is Money?
Describe how to determine a person’s net worth.	Budget Game – Core Component Activity – Get a Snapshot of Your Financial Health
Explain the roles/functions of money as a medium of exchange, store of value, and unit of account/standard of value.	Lesson – What is Money?
Compare services offered by different financial institutions, including banks, credit unions, payday lenders, and title pawn lenders.	Lesson – Choosing the Best Banking Option for You Lesson – What to Do When You Need Money Fast
Compare and contrast cash, debit cards, credit cards, prepaid cards and mobile payment apps in terms of how they work, acceptability, and the costs and benefits associated with each.	Budget Game – Core Component Lesson – How Debit Cards Work Lesson – Credit Cards: Terms, Fees, and More Lesson – What is Money? Lesson – How To Save Money on Your Next Trip
Evaluate the risk and return of a variety of savings and investment options, including: savings accounts, certificates of deposit, retirement accounts (i.e. Roth IRA, 401K, 403b), stocks, bonds, 529 accounts, and mutual funds and explain the importance of diversification when investing.	Lesson – The Secret to a Comfortable Retirement Lesson – How to Develop an Investing Strategy Lesson – A Beginner’s Guide to Investing in Stocks Lesson – The Pros and Cons of Mutual Funds Lesson – A Simple Explanation of ETFs Lesson – Getting Started with Bond Investing
Describe the role of speculative investments (i.e. cryptocurrency and historical examples like buying on margin in the 1920’s).	Investing101 Certification Lesson – Could the 1929 Crash Happen Again?
Compare interest rates on loans and credit cards from different institutions including banks, credit unions, pay-day loan facilities, and title-pawn companies.	Lesson – What to Do When You Need Money Fast Lesson – How to Use Debt to Your Advantage
Define annual percentage rate and describe how different interest rates can affect monthly payments on loans.	Lesson – Demystifying the Impact of Interest Rates
Use an online amortization tool to show how payments on a fixed loan like a mortgage are applied to interest and principal.	Activity – Watch How Your Savings Could Grow Activity – Find Out Your Monthly Home Budget Activity – Student Loan Repayment Calculator
Explain the difference between simple and compound interest and the difference between fixed and variable interest.	Activity – Watch How Your Savings Could Grow Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Demystifying the Impact of Interest Rates
Define nominal and real returns and explain how inflation affects interest-earning savings and investment accounts.	Lesson – Demystifying the Impact of Interest Rates Lesson – Inflation
Describe income, sales, property, capital gains, and estate taxes in the U.S.	Lesson – Tax Basics You Need to Know
Describe the difference between progressive, regressive, and proportional taxes.	Lesson – Tax Basics You Need to Know
Differentiate between and explain how to access one’s credit report and credit score.	Lesson – What Your Credit Report Says About You
Describe the basic components of a credit score including payment history, debt to income ratio, amount owed, length of credit history, types of credit used, amount of available credit, and recent credit applications.	Lesson – What Your Credit Report Says About You
Analyze and evaluate a sample loan application for credit worthiness and the ability to receive favorable interest rates.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – What to Do When You Need Money Fast
Explain the difference between revolving credit and installment credit.	Lesson – How Borrowers Manage Personal Debt Lesson – Debt Relief: Is Consolidation the Answer? Lesson – How to Negotiate With Creditors
Explain causes of personal bankruptcy and describe consequences of declaring bankruptcy.	Lesson – What Is Bankruptcy?
Explain why people buy insurance.	Lesson – Life Insurance: The Ultimate Safety Net Lesson – What’s Not Covered in Renter’s Insurance? Lesson – What Damage Does Home Insurance Cover? Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive Lesson – Buy vs. Lease a Car Calculator
Describe various types of insurance such as automobile, health, life (whole and term), disability, renters, flood and property.	Lesson – Life Insurance: The Ultimate Safety Net Lesson – What’s Not Covered in Renter’s Insurance? Lesson – What Damage Does Home Insurance Cover? Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive Lesson – Property Insurance Quote Builder
Explain the costs and benefits associated with different types of insurance, including deductibles, premiums, coverage limits shared liability, and asset protection	Lesson – Life Insurance: The Ultimate Safety Net Lesson – What’s Not Covered in Renter’s Insurance? Lesson – What Damage Does Home Insurance Cover? Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive Lesson – Income Protection Insurance Calculator
Define insurability and explain why insurance rates can vary.	Lesson – Life Insurance: The Ultimate Safety Net Lesson – What’s Not Covered in Renter’s Insurance? Lesson – What Damage Does Home Insurance Cover? Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive
Identify skills that are required to be successful in the workplace, including positive work ethic, punctuality, time management, teamwork, and communication skills.	Lesson – Planning Your Career Path Lesson – Go to College or Start Working? Lesson – Are Internships Worth It?
Describe the impact a person’s social media footprint can have on their career and finances.	Lesson – How to Get Past Resume Software Lesson – Acing Job Interviews Lesson – Biggest Mistakes of Job Seekers
Evaluate job and career options and explain the significance of investment in education, training, and skill development as it relates to future earnings.	Lesson – Planning Your Career Path Lesson – Go to College or Start Working? Lesson – Are Internships Worth It? Lesson – Financing Your Education
Describe how government agencies offer protection in banking, investments, borrowing, and buying goods and services.	Lesson – Choosing the Best Banking Option for You Lesson – Credit Cards: Terms, Fees, and More
Compare different methods for lodging consumer complaints (e.g., Better Business Bureau, online methods, and direct contact with business).	Lesson – Protect Yourself as a Consumer
Explain the primary purpose of important consumer legislation (i.e., the Truth in Lending Act, Fair Debt Collection Practices Act, Fair Credit Reporting Act, the Equal Housing Act, and the Dodd-Frank Act).	Lesson – Credit Cards: Terms, Fees, and More: Terms, Fees, and More
Describe common ways identity theft happens including dumpster diving, skimming, phishing, stealing, and data breaches.	Lesson – How to Avoid Identity Theft, Scams & Fraud
Describe ways to protect yourself from identity theft including shredding important documents, not opening attachments to unknown emails, not revealing personal information over the phone or email, using secure networks, regularly monitoring your credit report, changing passwords on accounts, and carefully managing social media.	Lesson – How to Avoid Identity Theft, Scams & Fraud Lesson – Receipts: What to Keep and Why
Describe steps that should be taken if a person is the victim of identity theft including getting replacement credit cards, freezing credit histories, alerting appropriate officials, and changing passwords.	Lesson – How to Avoid Identity Theft, Scams & Fraud
Describe the basic characteristics of investment scams such as Ponzi schemes, pump and dumps, and “advance fee” scams and how to avoid them.	Investing101 Certification
Microeconomics	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Define the law of supply and the law of demand.	Lesson – Supply and Demand Examples in the Stock Market Lesson – What is Supply? Lesson – What is Demand?
Describe various determinants (shifters) of supply and demand and illustrate on a graph how they can change equilibrium price and quantity.	Lesson – Supply and Demand Examples in the Stock Market Lesson – What is Supply? Lesson – What is Demand?
Explain and illustrate on a graph how prices set too high (e.g., price floors) create surpluses, and prices set too low (e.g., price ceilings) create shortages.	Lesson – Ceilings, Floors, and Empty Shelves
Compare and contrast three forms of business organization—sole proprietorship, partnership, and corporation with regards to number of owners, liability, lifespan, decision-making, and taxation.	Lesson – Types of Companies Lesson – What is Entrepreneurship?
Identify the basic characteristics of monopoly, oligopoly, monopolistic competition, and pure (perfect) competition with regards to number of sellers, barriers to entry, price control, and product differentiation.	Lesson – Benefits of Competition Lesson – Comparative Economic Systems – Capitalism, Socialism, and Communism
Macroeconomics	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Describe key economic outcomes and how they are measured including economic growth using Gross Domestic Product (GDP) and real GDP; price stability using the Consumer Price Index (CPI); and full employment using the unemployment rate.	Lesson – Major Economic Indicators (GDP, CPI, Jobs) Lesson – Gross Domestic Product
Explain the differences between seasonal, structural, cyclical, and frictional unemployment.	Lesson – The Anatomy of Unemployment
Describe the stages of the business cycle and its relation to economic measurement, including: peak, contraction, trough, recovery/expansion as well as recession.	Lesson – The Business Cycle
Describe the organization of the Federal Reserve System (12 Districts, Federal Open Market Committee (FOMC), and Board of Governors).	Lesson – Why You Should Care About the Fed Lesson – What Is Monetary Policy?
Describe the Federal Reserve Bank’s roles in payment processing, bank supervision, and monetary policy including the dual mandate of price stability and full employment.	Lesson – Why You Should Care About the Fed Lesson – What Is Monetary Policy?
Describe how the Federal Reserve uses various tools of monetary policy to target the federal funds rate and how this rate influences other interest rates in the economy.	Lesson – Why You Should Care About the Fed Lesson – What Is Monetary Policy? Lesson – Watch How Your Savings Could Grow
Explain the effect on the economy of the government’s taxing and spending decisions in promoting price stability, full employment, and economic growth.	Lesson – Government Impact on the Economy Lesson – What Does Fiscal Policy Mean?
Explain how government budget deficits or surpluses impact national debt.	Lesson – What Does Fiscal Policy Mean?
International	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Explain how nations benefit when they specialize in producing goods and services in which they have a comparative advantage.	Lesson – What is Specialization? Lesson – Why Do Some Jobs Pay More Than Others? Lesson – What Is Comparative Advantage?
Explain how trade barriers create costs and benefits to consumers and producers over time.	Lesson – How Global Trade Shapes Our Economy
Analyze Georgia’s role in the international economy (i.e. the ports of Savannah and Brunswick, the Northeast inland port, the presence of multinational corporations in the state, and the impact of trade on the state’s economy).	Lesson – How Global Trade Shapes Our Economy
Describe factors that cause changes in exchange rates.	Stock Game – Core Component Lesson – How Global Trade Shapes Our Economy
Explain how appreciation and depreciation of currency affects net exports and benefits some groups and hurts others.	Lesson – How Global Trade Shapes Our Economy