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Making Choices and Identifying Costs

Students are introduced to the PACED decisionmaking model and grid as a guide to making personal finance choices. The grid is used to evaluate product choices based on ratings from Consumer Reports® and to demonstrate trade-offs and opportunity costs.

•  Lesson (pdf)

•  PowerPoint slides (pptx)

The Making Personal Finance Decisions curriculum teaches valuable personal finance lessons grounded in economic theory. The curriculum is divided into 10 themed units, with each unit containing two lessons. The twenty individual lessons employ a variety of teaching strategies designed to engage students in the learning process and equip them with the knowledge and skills necessary to make informed personal finance decisions. Making Choices and Identifying Costs is lesson 1B of Unit One: Thinking Economically.

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Audience:   High School
Language:   English
Subjects:   Economics, Personal Finance
Resource Types:   Lessons, PowerPoint
Concepts:   Budget/Money Management, Decision-Making, Human Capital, Incentives, Interest, Opportunity Cost, Spending