La. Admin. Code tit. 28 § LXVII-311

Current through Register Vol. 50, No. 11, November 20, 2024

Section LXVII-311 - Economics/Finance

A. Competency Courses: Accounting, Business Computer Applications I and II, Economics*, Financial Math*, Telecommunications

B. Related Electives: Business English, Business Law, Cooperative Office Education, Computer Multimedia Presentations, Education for Careers, Entrepreneurship, Introduction to Business, Introduction to Management, Keyboarding/Keyboarding Applications, Records Management

C. Focus Statement

1. The American economy is based on a private enterprise system in which the sum total of the millions of individual choices made by consumers, workers, and citizens affect the decisions made by business owners and government officials. The preservation and effectiveness of such a system depends on the ability of individuals to make wise economic decisions related to their personal financial affairs, the successful operation of organizations, and the global economy. In order to make these informed decisions, individuals must clearly understand how the system operates while comprehending their role in the system.

2. Math computational and problem-solving skills are basic to the understanding of economics and finance as well as records management skills to document both personal and business financial activities.

3. This career major will typically require additional education after high school. Some examples of employment options available upon successful completion of the Economics/Finance career major are:

a. high school:

i. bank teller;

ii. cashier;

iii. travel agent;

iv. rental clerk;

v. insurance processing clerk;

vi. adjustment clerk;

vii. account collector;

viii. credit clerk;

ix. brokerage clerk;

x. payroll clerk;

b. advanced training:

i. real estate agent;

ii. credit card marketer;

iii. financial aid officer;

iv. appraiser;

v. adjuster;

vi. credit analyst;

c. 4-year degree:

i. financial consultant;

ii. insurance agent;

iii. retirement counselor;

iv. certified financial planner;

v. budget analyst;

vi. cost estimator;

vii. portfolio manager;

viii. stock broker;

ix. economist.

*Content standard is included in this major.

Standards and Benchmarks/Academic Cross-Reference

Standard	Benchmarks	Academic Cross-References
13. Use economic concepts to understand and make reasoned decisions about economic issues	(Recommended Grades 9-12) a. Identify opportunity costs and trade-offs involved in making choices about how to use scarce economic resources *b. Analyze the use of the decision-making process in the individual's role as a citizen, worker, and consumer c. Define the components of productivity and discuss its importance in an economic system d. Discuss why societies develop economic systems, identify the basic features of different economic systems, and discuss the major features of the U.S. economy e. Explain the role of core economic institutions and incentives in the U.S. economy *f. Explain the role of exchange and money in global economic systems and describe the effect of interdependence on economic activity g. Describe the role of markets and prices in the U.S. economy *h. Analyze the role of the law of supply and demand in the U.S. economy i. Describe different types of competitive structures and illustrate the role of competitive markets in the U.S. and other economies j. Explain how the U.S. economy functions as a whole and describe macro-economic measures of economic activity k. Discuss the role of government and the rights and responsibilities of citizens in the U.S. economy l. Examine the importance of economic relationships among nations m. Discuss the role of international trade and investment and international monetary relations in the global economy *n. Explain the role of exchange and money in a local, regional, national, and global economic system and describe the effect of interdependence on economic activity	ELA 1 - 4 2 - 2 4 - 5/6 5 - 2/3/6 7 - 1/4 Mathematics D - 1/2/3/7/8 P - 4/5	Social Studies G - B--1/2/3/4 C--2/3/4 D--1/2/3/4/5 C - A--1/2/3/4/5/6 B--4/5/6 C--1/2/3 D--1/2/3/4 E - A--1/2/3/4/5/6/7/8 B--1/2/3/4/5 C--1/2/3 H - B--17/18/19 C--17/18 Science LS - F--3 G--1 SE - A--11 B--1/2/3/4/5/6/7 C--7/8 D--5/8/9
14. Apply math computational and problem-solving skills in personal, business, and consumer applications	(Recommended Grades 9-12) a. Demonstrate competency in fundamental calculations using whole numbers, fractions, decimals, and percents *b. Apply fundamental knowledge to assorted business and personal financial situations c. Use manual and electronic methods to perform calculations d. Apply mathematical concepts to business and personal financial situations such as payroll, budget, and income tax e. Compute problems involving metric measurements *f. Solve problems presented in narrative and unarranged form	ELA 1 - 1/4/5 3 - 1 4 - 2/5/6 5 - 2/6 7 - 1/2/4 Mathematics N - 1/2/3/4/5/6/7 A - 1/3 M - 1/3/4 G - 6 D - 1/3/5/6/7/8/9 P - 1/5	Social Studies E - A--1 B--1/2 C--1 Science PS - H--3 LS - F--3 G--1 SE - B--5

*Identifies benchmarks that encourage critical thinking

La. Admin. Code tit. 28, § LXVII-311

Promulgated by the Board of Elementary and Secondary Education, LR 30:993 (May 2004).

AUTHORITY NOTE: Promulgated in accordance with R.S. l7:6.