North Carolina Financial Literacy Standards: Teacher Resources

North Carolina Economics and Personal Finance Standards Alignment

To support North Carolina educators, we have aligned our learning materials to the official Economics and Personal Finance standards published by the North Carolina Department of Public Instruction. The State Board of Education approved these standards on February 4, 2021, for the required high school course, NCDPI course 4319.

Explore the table below to see exactly how our lessons, Budget Game, and Stock Game reinforce the standards your students need to master. Our Learning Library contains over 300 total lessons that can be customized for every class, so this may not include every lesson that may apply for each standard.

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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
Economics
EPF.E.1 Understand economies, markets, and the role economic factors play in making economic decisions.
EPF.E.1.1 Compare how individuals and governments utilize scarce resources in traditional, command, market, and mixed economies.	Lesson – Comparative Economic Systems – Capitalism, Socialism, and Communism Lesson – Supply and Demand Examples in the Stock Market Lesson – What is Economics? Lesson – What is Opportunity Cost?
EPF.E.1.2 Distinguish market structures in terms of economic characteristics and the roles they play in decision-making and opportunity costs.	Lesson – What is Opportunity Cost? Lesson – Benefits of Competition Lesson – Competitive Advantage Lesson – Externalities Lesson – Comparative Economic Systems – Capitalism, Socialism, and Communism Lesson – Government Impact on the Economy
EPF.E.1.3 Explain how supply and demand determine equilibrium price and quantity produced.	Lesson – What is Supply? Lesson – What is Demand? Lesson – Supply and Demand Examples in the Stock Market Lesson – What are Price Controls?
EPF.E.1.4 Compare the ways in which incentives and profits influence what is produced and distributed in a market system.	Lesson – Carrots, Sticks, and Your Wallet – All About Incentives Lesson – Benefits of Competition Lesson – Competitive Advantage
EPF.E.2 Analyze the role of government and economic institutions in developing and implementing economic stabilization policies in the U.S.
EPF.E.2.1 Summarize basic macroeconomic indicators and how they vary over the course of a business cycle.	Lesson – Major Economic Indicators (GDP, CPI, Jobs) Lesson – Gross Domestic Product Lesson – The Business Cycle Lesson – Inflation Lesson – The Anatomy of Unemployment
EPF.E.2.2 Summarize basic microeconomic indicators and how they vary over the course of a business cycle.	Lesson – What is Supply? Lesson – What is Demand? Lesson – Supply and Demand Examples in the Stock Market Lesson – What are Price Controls? Lesson – Externalities
EPF.E.2.3 Explain how fiscal policy and monetary policy influence overall levels of employment, interest rates, production, price level, and economic growth.	Lesson – What Does Fiscal Policy Mean? Lesson – What Is Monetary Policy? Lesson – Why You Should Care About the Fed Lesson – Demystifying the Impact of Interest Rates Lesson – The Anatomy of Unemployment Lesson – Why Do Some Jobs Pay More Than Others? Lesson – Inflation
EPF.E.2.4 Differentiate organizations in terms of their roles and functions in the United States economy.	Lesson – Types of Companies Lesson – Choosing the Best Banking Option for You Lesson – Why You Should Care About the Fed
EPF.E.3 Understand the role of government in a market economy.
EPF.E.3.1 Identify the role the government plays in providing a legal structure to protect property rights and enforce contracts.	Lesson – What Are Property Rights? Lesson – The 6 Elements of a Binding Contract
EPF.E.3.2 Explain how government regulation impacts market activity.	Lesson – Government Impact on the Economy Lesson – What are Price Controls? Lesson – Externalities
EPF.E.3.3 Explain how taxes and fees fund government goods and services.	Lesson – What Does Fiscal Policy Mean? Lesson – Tax Basics You Need to Know Lesson – Sales Tax: Who Pays, Collects, and Why?
EPF.E.4 Understand factors of economic interdependence and their impact on nations.
EPF.E.4.1 Explain the impact of trade on the interdependence between nations.	Lesson – How Global Trade Shapes Our Economy Lesson – What Is Comparative Advantage?
EPF.E.4.2 Explain how North Carolina contributes to and benefits from the United States and world economies.	Lesson – How Global Trade Shapes Our Economy Lesson – What Is Comparative Advantage?
Income and Education	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
EPF.IE.1 Analyze the relationship between education, income, career, and desired lifestyle.
EPF.IE.1.1 Explain how education, income, career, and life choices impact an individual’s financial plan and goals.	Lesson – Planning Your Career Path Lesson – What’s in Your Compensation Package? Lesson – What Benefits to Look for in a Job Offer Lesson – The Cost of Raising a Family Lesson – The Secret to a Comfortable Retirement Lesson – Evaluating Big-Ticket Purchases Lesson – Go to College or Start Working?
EPF.IE.1.2 Differentiate career and education options after high school in terms of desired lifestyle.	Lesson – Go to College or Start Working? Lesson – Financing Your Education Activity – Student Loan Repayment Calculator Lesson – Planning Your Career Path
EPF.IE.1.3 Identify the costs of postsecondary education and the potential increase in income from a career of choice.	Lesson – Go to College or Start Working? Lesson – Financing Your Education Activity – Student Loan Repayment Calculator Lesson – Planning Your Career Path Lesson – Why Do Some Jobs Pay More Than Others?
EPF.IE.1.4 Compare strategies which can minimize the costs of postsecondary education.	Lesson – Go to College or Start Working? Lesson – Financing Your Education Activity – Student Loan Repayment Calculator
EPF.IE.1.5 Summarize various types of income.	Budget Game – Core Component Stock Game – Core Component Lesson – What’s in Your Compensation Package? Lesson – What Benefits to Look for in a Job Offer Lesson – What is Money? Activity – Paycheck Variation Simulator
EPF.IE.2 Understand the purpose and function of taxes and the impact on income.
EPF.IE.2.1 Explain how payroll deductions modify an employee’s disposable income.	Budget Game – Core Component Lesson – Payroll Best Practices Activity – Paycheck Variation Simulator Lesson – Tax Basics You Need to Know
EPF.IE.2.2 Identify the types and purposes of local, state, and federal taxes and the way each is levied and used.	Lesson – Tax Basics You Need to Know Lesson – Sales Tax: Who Pays, Collects, and Why? Lesson – Tax Credits & Deductions You Need to Know
EPF.IE.2.3 Implement appropriate computations and procedures to prepare a federal or state tax form.	Lesson – Income Tax Filing Tips and Tricks Activity – Get Practice Filing a Sample 1040 Tax Return Lesson – Tax Credits & Deductions You Need to Know Lesson – Do You Need a Tax Professional?
Money and Credit Management	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
EPF.MCM.1 Understand money management skills and strategies.
EPF.MCM.1.1 Explain how fiscally responsible individuals create and manage a spending plan.	Budget Game – Core Component Lesson – Break Free From Money Stress with a Budget Lesson – Achieve Financial Goals with a Spending Plan Lesson – Proven Techniques to Stop Overspending Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth
EPF.MCM.1.2 Critique income and spending plans in terms of age, individual needs, and available resources.	Budget Game – Core Component Lesson – Break Free From Money Stress with a Budget Lesson – Achieve Financial Goals with a Spending Plan Lesson – The Cost of Raising a Family Lesson – The Secret to a Comfortable Retirement Lesson – How to Prepare for Unexpected Expenses Lesson – Financial Resilience and Life Transitions Activity – Get a Snapshot of Your Financial Health
EPF.MCM.1.3 Compare the costs and benefits of renting, leasing, or owning.	Lesson – Should You Rent or Should You Buy? Activity – Rent or Buy: Which is Right for You? Activity – Buy vs. Lease a Car Calculator Lesson – Mortgage Options for First-Time Homebuyers Lesson – Mortgage Math and Ratios
EPF.MCM.1.4 Compare various types of mortgages.	Lesson – Mortgage Options for First-Time Homebuyers Lesson – Mortgage Math and Ratios Activity – Find Out Your Monthly Home Budget
EPF.MCM.2 Understand the purposes and services of financial institutions.
EPF.MCM.2.1 Design a plan that uses the services of various financial institutions to meet financial goals.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Choosing the Best Banking Option for You Lesson – Finding the Right Brokerage Account Lesson – How to Develop an Investing Strategy Lesson – Balance Your Books in 10-Minutes
EPF.MCM.2.2 Explain how interest and fees impact spending, debt, and savings.	Budget Game – Core Component Lesson – Demystifying the Impact of Interest Rates Lesson – The Magic of Compound Interest Activity – Crack the Code to Becoming a Millionaire Activity – Watch How Your Savings Could Grow Activity – Calculate the True Cost of Credit Card Debt
EPF.MCM.2.3 Compare costs and benefits of cash, debit, payment applications, and credit card transactions in terms of interest rates, fees, penalties, costs, and benefits.	Budget Game – Core Component Lesson – What is Money? Lesson – How Debit Cards Work Lesson – Credit Cards: Terms, Fees, and More Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – What to Do When You Need Money Fast Lesson – Automatic Payments: Convenience vs. Risk
EPF.MCM.3 Understand the concepts and factors that enable individuals to make informed financial decisions for effective resource planning and money management.
EPF.MCM.3.1 Compare credit sources and services.	Budget Game – Core Component Lesson – How Borrowers Manage Personal Debt Lesson – Credit Cards: Terms, Fees, and More Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – What to Do When You Need Money Fast Lesson – Financing Your Education Lesson – Mortgage Options for First-Time Homebuyers
EPF.MCM.3.2 Explain how debt management and creditworthiness impact an individual’s ability to become a responsible consumer and borrower.	Budget Game – Core Component Lesson – How Borrowers Manage Personal Debt Lesson – What Your Credit Report Says About You Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Getting Out of Debt: Debt Snowball and Debt Avalanche Lesson – Getting Help With Debt Repayment
EPF.MCM.3.3 Summarize the advantages and disadvantages of debt.	Budget Game – Core Component Lesson – How to Use Debt to Your Advantage Lesson – Getting Out of Debt: Debt Snowball and Debt Avalanche Activity – Calculate the True Cost of Credit Card Debt
EPF.MCM.3.4 Classify the various types of insurance and estate planning including the benefits and consequences.	Lesson – Types of Insurance 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 – Life Insurance: The Ultimate Safety Net Lesson – Why Health Insurance is So Expensive Lesson – Don’t Let Disability Derail Your Finances Activity – Income Protection Insurance Calculator Activity – Auto Insurance Quote Builder Activity – Property Insurance Quote Builder Activity – Cost of Healthcare Calculator Lesson – Who Gets Your Stuff When You’re Gone?
Financial Planning	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
EPF.FP.1 Understand the value and planning processes associated with saving and investing.
EPF.FP.1.1 Compare various investing strategies and tax implications for their potential to build wealth.	Stock Game – Core Component Investing101 Certification Lesson – How to Develop an Investing Strategy Lesson – What is Diversification & How to Spread Your Risk Lesson – The Magic of Compound Interest Activity – Model Your Financial Future Lesson – Tax Basics You Need to Know Lesson – Tax Credits & Deductions You Need to Know Lesson – Is an Annuity Right for You?
EPF.FP.1.2 Identify factors (i.e. income, budget, cost of living, experiences) that influence financial planning.	Budget Game – Core Component Lesson – Achieve Financial Goals with a Spending Plan Lesson – Break Free From Money Stress with a Budget Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – The Cost of Raising a Family Lesson – Evaluating Big-Ticket Purchases Lesson – The Secret to a Comfortable Retirement Lesson – What is Wealth? Lesson – A Strategy to Build Wealth, Not Debt Lesson – Financial Resilience and Life Transitions Activity – Get a Snapshot of Your Financial Health
EPF.FP.1.3 Summarize the role of philanthropy, volunteer services, businesses, and nonprofits in community development and quality of life.	Lesson – A Guide to Effective Charitable Donations Lesson – Types of Companies Lesson – How a Business Can Be Socially Responsible
Critical Consumerism	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
EPF.CC.1 Understand factors associated with consumer decision making.
EPF.CC.1.1 Explain how advertising, social media, and business practices impact consumer decisions.	Lesson – Achieve Financial Goals with a Spending Plan Lesson – Analyzing Consumer Behavior Lesson – Foundations of Marketing Lesson – Ethics In Marketing Lesson – Why You Buy What You Buy
EPF.CC.1.2 Identify information, reviews, and reports consumers use to make financial decisions.	Lesson – How Do You Stop Impulse Purchases? Lesson – How to Develop an Investing Strategy Lesson – Knowing Your Risks and Risk Tolerance Lesson – What Your Credit Report Says About You
EPF.CC.1.3 Explain how consumer-driven decisions impact the economy.	Lesson – Analyzing Consumer Behavior Lesson – What is Demand? Lesson – Supply and Demand Examples in the Stock Market Lesson – The Business Cycle Lesson – Benefits of Competition
EPF.CC.2 Understand the rights and responsibilities of buyers and sellers under consumer protection laws.
EPF.CC.2.1 Explain how consumer protection laws contribute to the empowerment of the individual.	Lesson – Protect Yourself as a Consumer Lesson – How to Avoid Identity Theft, Scams and Fraud Lesson – Credit Cards: Terms, Fees, and More
EPF.CC.2.2 Summarize various types of fraudulent solicitation and business practices.	Lesson – How to Avoid Identity Theft, Scams and Fraud Lesson – Protect Yourself as a Consumer
EPF.CC.2.3 Summarize ways consumers can protect themselves from fraudulent and deceptive practices.	Lesson – How to Avoid Identity Theft, Scams and Fraud Lesson – Protect Yourself as a Consumer Lesson – Tame Your Financial Paperwork

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North Carolina Economics and Personal Finance Standards Alignment

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