Education 788: Technology Seminar/Capstone Project Gaining Wealth Building Experience In The Investment World Using Simulations Summary: I would like to create a semester long Stock Market Simulation (Challenge To Promote Competition) using an online simulation. I have been looking and investigating some resources and websites to make the online simulation emulate as close to a real stock market (real-time trades and minute price stock price changes, updated portfolios, and ticker symbol finders). Using the online simulation, students will then create their own hard copy investment portfolio. They will update their hard copy portfolios weekly. At the end of the semester, they can then reflect on their portfolios. I also want to use a Classroom Stock Market Educational Facebook page. I would like to find a stock market simulation that links with Facebook. We can use the Facebook page to discuss daily trades, stock prices, and portfolio reviews, and just daily investment tips. I feel this project will be a great learning tool for my kids when I implement it next year. Stock Market Simulation Plan of Action and Project Details: -Introduction To Max’s Stock Market Challenge Online Stock Market Simulation -Stock Market Challenge Account Activation, Create G-mail Accounts, Analyze and Explore Publicly Traded Corporations and Stock Ticker Symbols, Begin Investing & Tracking Stock Market Portfolios, Update Weekly Stock Market Portfolio - Teacher-Centered Approach (Demonstration), Learner-Centered Approach (Simulation), Gaining Experience in the Investment World Using Simulations -The online simulation emulates as close to a real stock market (real-time trades and minute price stock price changes, updated portfolios, and ticker symbol finders). Using the online simulation, students will then create their own hard copy investment portfolio. They will update their hard copy portfolios weekly. At the end of the semester, they can then reflect on their portfolios. I also want to use a Classroom Stock Market Educational Facebook page. I would like to find a stock market simulation that links with Facebook. We can use the Facebook page to discuss daily trades, stock prices, and portfolio reviews, and just daily investment tips. -Students will be given Stock Market Workshop time to make trades Details of the Game (Challenge): -The goal in the Max's Investment World Stock Market Challenge is to increase the value of their Portfolio. To do so, they need to buy the stocks and mutual funds that will increase in price. Each student will be given $200,000 of virtual cash to start investing. -The main areas of the game are: Your Portfolio: Where you can see what you own. Buy and Sell: Where you can check prices, or buy and sell stocks and mutual funds. Your Transactions: Where you can see what you've recently bought and sold. Insights: Where you can get advice and trading strategies from Stocks Game. -Each Class Will Have A Private Competition Setup and a Weekly Leader Board To Follow Student Progress Rationale: The purpose of this activity is for students to learn how to read and locate financial information, become familiar with the stock market, and analyze market information. I feel online simulations are the greatest real world teaching tools for economic and financial literacy students. This will help my students better understand the investment world and will give them confidence when they begin investing in the future. My goal as an educator is to help lead my students to become financially independent in the future. This learning experience/Inquiry will take my student one step closer to financial independence. Goals/Objectives: -Students will learn how to read and locate financial information, become familiar with the stock market, and analyze market information. -Students will organize, compare and contrast complex information on various types of investments. -Students will work in small groups, organize information, then teach one another in order to gain a better understanding about specific types of investments (Classroom Stock Market Educational Facebook page). -Students will learn to use the internet to gather research on investments. -Students will categorize information learned in the lesson into specific investments and track their own investment portfolio (print, organize, and keep a hard copy of investment portfolio). -Students will be able to assess stocks and mutual funds by reading company prospectus and analysis reports. -Students will compare and contrast the similarities and differences between single stocks and mutual funds. -Students will strive to increase the value of their investment portfolio. To do so, they will need to buy the stocks and mutual funds that will increase in price (give them an idea of the competitive world of investing). -Students will gain a better understanding of compound an simple interest -Students will gain a better understanding of risk Factor (Big Risk = Big Gain or Big Loss) -Students will understand liquidity, diversification, and risk-return ratio -Students will understand other investment options such as certificates of deposit, money markets, single stocks, bonds, mutual funds, rental real estate, annuities, commodities and futures -Students will understand how to follow and update their individual investment portfolio Economic & Financial Literacy Standards: Content Standard (12-1): Decision Making and Skills Benchmark: Economic decision making relies on the analysis of data. Economists use data to explain trends and decide among economic alternatives. Individuals use data to determine the condition of their finances and to make savings and investment decisions. Indicators/Content Statements: 1, 2 1. Economists analyze multiple sources of data to predict trends, make inferences and arrive at conclusions. 2. Reading financial reports (bank statements, stock market reports, mutual fund statements) enables individuals to make and analyze decisions about personal finances. Content Standard (12-6): Financial Responsibility and Money Management Benchmark: Responsible personal finance decisions are based upon reliable information and used to reach personal goals. Indicators/Content Statements: 13, 14, 15 13. Financial decision making involves considering alternatives by examining costs and benefits. 14. A personal financial plan includes financial goals and a budget, including spending on goods and services, savings and investments, insurance and philanthropy. 15. Different payment methods have advantages and disadvantages. Content Standard (12-7): Saving and Investing Benchmark: Saving and investing strategies help individuals achieve personal financial goals. Indicators/Content Statements: 16, 17, 18, 19 16. Saving and investing help to build wealth. 17. Savings can serve as a buffer against economic hardship. 18. Different costs and benefits are associated with saving and investing alternatives. 19. Banks, brokerages and insurance companies provide access to investments such as certificates of deposit, stocks, bonds and mutual funds. Technology Standards: Student 1. Creativity and Innovation c. use models and simulations to explore complex systems and issues. d. identify trends and forecast possibilities. 2. Communication and Collaboration a. interact, collaborate, and publish with peers, experts, or others employing a variety of digital environments and media. 3. Research and Information Fluency b. locate, organize, analyze, evaluate, synthesize, and ethically use information from a variety of sources and media. d. process data and report results. 4. Critical Thinking, Problem Solving, and Decision Making a. identify and define authentic problems and significant questions for investigation. b. plan and manage activities to develop a solution or complete a project. c. collect and analyze data to identify solutions and/or make informed decisions. 5.Digital Citizenship a. advocate and practice safe, legal, and responsible use of information and technology. b. exhibit a positive attitude toward using technology that supports collaboration, learning, and productivity. c. demonstrate personal responsibility for lifelong learning. d. exhibit leadership for digital citizenship. 6.Technology Operations and Concepts d. transfer current knowledge to learning of new technologies Teachers 1. Facilitate and Inspire Student Learning and Creativity a. engage students in exploring real-world issues and solving authentic problems using digital tools and resources. Annotated Bibliography (Professional Development Learner-Centered Approaches / Simulations-Strategies-Methods): 1.http://tep.uoregon.edu/workshops/teachertraining/learnercentered/overview/implementing.html Teacher Effective Program provides engaging learning experiences for all educators who want to implement learner-centered approaches in the classroom. Teacher Effective Program’s website is very helpful, because it directs you in many ways to implement learner-centered activities and it gives educators many tips on best practices for learner-centered approaches. This site also provides workshop dates and descriptions that are great professional development opportunities and a list of technology resources that will enhance the learner-centered approach. 2.http://www.ncrel.org/sdrs/areas/issues/content/cntareas/science/sc3learn.htm Pathways Home is a website that focuses on learner-centered classrooms, problem-based learning, the construction of understanding, and meaning by students. This website highlights “A Different Kind of Classroom “ by Robert Marzano and focuses on Marzano’s six assumptions about creating a learning-centered classroom. 3. http://www.teachervision.fen.com/pro-dev/resource/5778.html The Teacher Vision website offers a wide range of professional development resources for educators. The website is designed to improve your teaching skills. The website provides articles, lesson plans, and resources from notable publishers and experts in the field to enhance professional development for teachers. The website is designed to maximize your teaching skills and improve your professional development opportunities 4. http://www.sde.com/ The Staff Development For Educators website is designed to help teachers learn real-world strategies and practical classroom-proven techniques. The website offers teacher workshops, teacher conferences, and online training programs designed to enhance the quality of the teaching profession. The website allows teachers to take advantage of on-site/in-service training—professional development opportunities. 5. http://www.pdtogo.com/Welcome.html The Professional Development For Busy Educators website’s purpose is to provide professional development for educators by sharing resources, lesson plans, and files for classroom use. The website allows you to share your ideas, lessons and techniques. It also provides different educator's ideas through the use of a podcasts. 6. http://lcweb2.loc.gov/ammem/ndlpedu/start/index.html The Learning Page website is designed to help educators use the American Memory Collections to teach history and culture. The website offers tips and tricks, definitions and rationale for using primary sources, activities, discussions, lesson plans and suggestions for using the collections in classroom curriculum. The website offers an American Memory section, which is an online archive of over 100 collections of rare and unique items important to America’s heritage. The collections contain more than 7 million primary source documents, photographs, films, and recordings that reflect the collective American memory. 7. http://www.futurekids.com/links/srvcs_pd.html The Future Kids website offers a variety of comprehensive technology professional development courses designed to train educators in the basic fundamentals of computer literacy, the application of technology in the workplace, curriculum integration, and classroom management with technology. The website offers technology professional development courses that address core technology areas, from operating systems, Internet, multimedia and graphics, to word processing, spreadsheets, desktop publishing, database, and applied technology. This is an awesome website to improve technological skills for students and educators alike. 8. http://www.cdl.org/for_educators/development/index.htm The Center For Development & Learning website is designed to develop and implement programs, products and services with the fundamental goal of impacting change in our educational system. The website supports and meets the ever-changing needs of classroom teachers, school leadership, principals and professionals who work with students. The website allows educators, schools, and districts to sign-up for further professional development sessions to expand and enhance professional development opportunities. 9. http://www.learner.org/about/ The Annenburg Media website is designed to use media and telecommunications to advance excellent teaching in American schools. This website is provided by the funding and broad distribution of educational video programs with coordinated Web and print materials for the professional development of K-12 teachers. The major goal of the website is to provide teacher’s opportunities to development more effective ways to share ideas and knowledge with their students. 10. http://www.edutopia.org/online-simulations-classroom Edutopia is a blog spot that allows teachers to discuss various educational issues and content. This particular blog is called “How Online Simulations Work in the Classroom.” The author Chris O’Neil discusses the many positives of using learner-centered approaches through simulations and how to go about using the simulations in the most productive ways. 11. http://www.wallstreetsurvivor.com/private/trading/trade.aspx The Wall Street Survivor is a website designed for On-line Stock Market Simulations. The website allows the users to learn the ins and outs of the stock market for free and so that they can win in real life. The website allows educators to create their own classroom contest. 12. http://simulator.investopedia.com/Home.aspx Investopedia is a website designed for On-line Stock Market Simulations. The website allows the users to learn the ins and outs of the stock market for free and so that they can win in real life. The website allows educators to create their own classroom contest. 13. http://www.smartstocks.com/login.html Smart Stocks is a website designed for On-line Stock Market Simulations. The website allows the users to learn the ins and outs of the stock market for free and so that they can win in real life. The website allows educators to create their own classroom contest. 14. http://www.stocks-game.com (The Stock Market Simulation I Will Be Using For The Project When It Is Implemented In My Classroom) Max’s Stock Market Challenge is a website designed for On-line Stock Market Simulations. The website allows the users to learn the ins and outs of the stock market for free and so that they can win in real life. The website allows educators to create their own classroom contest. 15.http://www.siia.net/index.php?option=com_docman&task=doc_view&gid=610&tmpl=component&format=raw&Itemid=59 This website is titled “Best Practices For Using Games & Simulations in the Classroom.” The article displays important guidelines to follow when using games an simulations for student learning. The article explains the three phases that should be used for using simulations at school. Phase 1: Selling the Idea, Phase 2: Preparation, Phase 3: Implementation 16. http://educationforum.ipbhost.com/index.php?showtopic=6354 The Education Forum is a website designed for teachers and educators. This particular forum has a list of several simulations that can be used in various classrooms. 17. http://simplek12.com/models-simulations-classroom-fetc-2010 Simple K12 is a website designed to help educators find the proper resources to implement in their classrooms to improve the learning experience. This particular article is titled, “Models and Simulations in the Classroom.” This article discusses the positive impact that simulations can provide for the classroom experience. 18. http://www.clexchange.org/ftp/documents/Implementation/IM1996-01EffectiveUseOfSims.pdf This website is an online article titled “Effective Use of Simulations in the Classroom.” The article discusses the types of simulations that can be used in the classroom, how to implement them, and setting the stage for implementing simulations. 19. http://theconnectedclassroom.wikispaces.com/Simulations This wikispace gives a list of many different simulations that can be used in the classroom, especially for social studies teachers. 20. http://education.mit.edu/papers/GamesSimsSocNets_EdArcade.pdf This website is an article titled, “The Instructional Power of Digital Games, Social Networking, and Simulations and How Teachers Can Leverage Them.” This article discusses the positive benefits of simulations which include: the ability to process information very quickly, The ability to determine what is and is not of relevance to them, The ability to process information in parallel, at the same time and from a range of different sources, Familiarity with exploring information in a non-linear fashion, A tendency to access information in the first instance through imagery and then use text to clarify, expand, and explore, A relaxed approach to ‘play,’—the capacity to experiment with one’s surroundings as a form of problem solving Impact: The inquiry will lead to students becoming more informed, educated, and aware of the investment world. This inquiry will allow me do less lecture and will allow them to do more hands on real world simulation to enhance their investing skills. This inquiry will allow my students to take ownership of their own investment education through investment simulation, competition, analysis, organization, research, and collaboration with other classmates. I am so excited to see how this translates to the classroom and to student achievement. Investing & Wealth Building Thematic Unit (Extension/Precursor To Stock Market Simulation): Lesson -Begin Investing & Wealth Building Unit -Investing (What Do You Know About Investing? (Pre-Test) -Teacher-Centered Approach (Direct Instruction/Lecture-Discussion): -Introduction to Investing (Investment Options) Investing Guided Notes (Part 1, 2, & 3), -Discuss Financial Expert Tips on Investments, Explain the KISS (Keep It Simple Stupid) rule of investing, Discuss the power and magic of compound interest -Precursor to Stock Market Simulation Lessons Student Learning Objectives/Goals -Examine the relationship between diversification and risk -Compare & contrast different types of investments: money markets, certificated of deposit, bonds, single stocks, mutual funds, rental real estate, annuities, and commodities, and futures, -Understand liquidity, diversification, and risk return ratio -Discuss Investments to Avoid Resources/Technology Implemented -Investing Pre-test -Investing Guided Note Sheet Lesson -The purpose of this activity is for students to compare and contrast the similarities and differences between single stocks and mutual funds using the Internet to do the research - Characteristics that are the same are written in the circle space that overlaps in the middle) -Students will list individual characteristics under each heading (single stocks vs. mutual funds) out to the side. -Characteristics that are the same are written in the circle space that overlaps in the middle) -Learner-Centered Approach (Cooperative Learning Groups) -Precursor to Stock Market Simulation Lessons Student Learning Objectives/Goals -Students will compare and contrast the similarities and differences between single stocks and mutual funds, Students will list individual characteristics under each heading (single stocks vs. mutual funds) Resources/Technology Implemented -Venn Diagram Student Activity Sheet -Computers -Internet Lesson -Reading A Prospectus Student Activity (The purpose of this activity is for students to be able to assess information on a particular mutual fund or a publicly traded company by reading its prospectus (company profile) -Students will list the three publicly traded companies below that you did your research on. -Students will list facts that they learned about each of the three publicly traded company/mutual funds prospectuses they researched. -Teacher-Centered Approach (Demonstration) -Learner-Centered Approach (Individual Research) -Precursor to Stock Market Simulation Lessons Student Learning Objectives/Goals -Students will learn to do research on investments (mutual funds, individual stocks) they are interested in. -Students will understand that productive investing takes a great deal of research on the part of an individual to make well informed decisions. -Students will research company profit margins and growth. -Students will learn how to generate a prospectus report using MSN Money and print it off as a hard copy resource -Students will use MSN Money (Investing/Stock Page) to do research on Company’s Prospectus to make proper investing decisions by eliminating risk by investing in publicly traded companies that have positive track records (experienced growth in a 5-10 year period = proven track record) Resources/Technology Implemented -Company Prospectus Task Sheet -Computer -Internet Lesson -Individual Fund Tracker Student Activity -Students will do further research to understand mutual fund investing -Teacher-Centered Approach (Demonstration) -Learner-Centered Approach (Individual Research) -Precursor to Stock Market Simulation Lessons Student Learning Objectives/Goals -The purpose of this activity is for students to learn how to read and locate mutual fund financial information –Students will become familiar with the stock market -Students will analyze market information Resources/Technology Implemented -Individual Fund Tracker Student Activity Sheet -Computer -Internet Lesson -Table Talk Discussion: Investing Financial Case Studies - Learner-Centered Approach (Cooperative Learning/Case Studies): Using Financial Case Studies To Enhance Financial Literacy Awareness concerning Investing & Wealth Building -Students will be placed in groups of three and given five Investing & Wealth Building Case Studies -Students will be required to help and design a financial plan of action for the particular people in the case studies. -Each group will be responsible to share their plan of action to the class for one of the case studies. -Group Member Responsibilities Reader Recorder Presenter All Are Active Learners -Precursor to Stock Market Simulation Lessons Student Learning Objectives/Goals -Students will gain experience working together to analyze a situation or problem -Students will learn how to create a plan of action for a real-world financial problem. -Students will apply new knowledge and skills for solving complex financial issues. -Students will actively participate enhancing social skills and positive team building Resources/Technology Implemented -Cooperative Learning Groups -Investing Financial Case Studies Sheet -Investing Financial Case Studies Plan of Action Response Sheet Lesson Plan -Guest Speaker: Russ Fish (Ameriprise Financial), Financial Advisor will talk with students about the importance of investing early, saving money, having an emergency fund, and the importance of becoming financially independent, Your Future Looks Bright if You Invest Right!!! -Teacher-Centered Approach (Direct Instruction/Lecture-Discussion): Extending the Classroom Resources -Precursor to Stock Market Simulation Lessons Student Learning Objectives/Goals -Students will show identify the importance of investing as a long-term wealth building strategy -Students will discuss career choices in the financial advising, portfolio managing, & wealth building professions Resources/Technology Implemented -Guest Speaker Open Forum Discussion/Question Sheet -K-W-L Sheet -Guest Speaker Financial Literacy Thematic Unit: Investing & Wealth Building -Gaining Experience In The Investment World Through Stock Market/Investing Simulation -Gaining Real-World Investing Experience Without the Real-World Risk -Gaining Real-World Investing Experience In A Quest To Become Financially Independent -Gaining Investment Knowledge That Can Be Properly Measured Instructional Approaches I Use To Teach The Financial Literacy Curriculum: Teacher-Centered Approaches- includes instruction where the teacher's role is to present the information that is to be learned and to direct the learning process of students This is appropriate for my classroom, because I believe it is important for the teacher to identify the lesson objectives and this instructional approach allows me to have the primary responsibility for guiding the instruction by explanation of the information and through modeling. I always follow teacher-centered approaches with student practice. Methods and strategies that I use in my classroom that fall into the teacher-centered approaches include direct instruction, lecture-discussion, lecture, and demonstration. -Direct Instruction is used to help students learn concepts and skills. In my classroom I use various models of direct instruction that include 1) intro & review, 2) presentation of new information, 3) guided practice, 4) independent practice. -Lecture-Discussion is a combination of lecture and teacher questioning of students that is guided and fostered by critical thinking components. This method allows my students to learn from each other as we talk about important topics that pertain to Economics & Financial Literacy. I want my students to understand that they have a voice and their input is very important to the development and learning progression of the class. -Lecture is flexible for me as a teacher and can be applied to any content I teach. The most critical fact about lecture is that it puts students in a passive role, but if I am not animated in my approach I often lose my students attention. I do my best to limit my lecture time throughout the week to meet the 21st Century diverse learners. -Demonstration involves the teacher showing students a process or procedure such as a simulation procedure or a computer procedure. Involving students in demonstrations allow this method to be less passive. I use this approach to show kids how to use different technology and financial simulations. They tend to gain a better understanding of a concept when they see how it is done and the steps it takes to get there. -Learner-Centered Approaches- grounded in constructivism; learner-centered approaches involve instruction where the teacher is a facilitator (or guide) as the learners construct their own understandings. There are a number of methods and strategies that I use in my classroom that promote learner-centered approaches which are listed and explained below. -Case Studies (Financial Case Studies) involve groups of students working together to analyze a "case" that has been written on a particular situation or problem to find a solution. I use Financial Case studies to allow students to apply new knowledge and skills for solving complex financial issues. The case study is completed by discussion of the case, allowing learners to debate their conclusions. -Cooperative Learning involves small heterogeneous student groups working together to solve a problem or complete a task. All students in the group must actively participate with each student maintaining some independence. The success of the group depends on the input of each individual. This teaching method promotes active participation, individual accountability, students' ability to work cooperatively and improvement of social skills in my classroom. I call my cooperative learning activities, “Table Talk Discussions.” I usually have these organized cooperative learning sessions at the end of each unit to extend our learning and to promote positive student-to-student interaction. -Simulations are used to put the student in a "real" situation without taking the risks. Simulations are meant to be as realistic as possible where students are able to experience consequences of their behavior and decisions. Simulations are commonly used in social studies and science but can be used in other curriculum areas. Computer simulations are quite common in today's virtual world. I use a semester long online Stock Market Simulation to help students understand the world investing and wealth building.