The educator understands the need for rational financial decision-making and successfully models and guides students through the PACED decision-making process.
Despite their young age, American teenagers are active players in the economy and have significant purchasing power (“Purchasing Power of Teens”). Teens also face numerous important financial decisions as they progress through high school and graduate, such as which career they will pursue, where they will live, and choices about student debt.
Researchers have defined two levels of decision-making. System 1 decision-making is “fast, automatic, effortless, implicit, and emotional,” while System 2 refers to “reasoning that is slower, conscious, effortful, explicit, and logical” (Milkman, Chug & Bazerman, 2008, p. 3). System 1 decision-making can lead to poor financial choices, so a rational approach to decision-making should be utilized in personal finance classrooms (Krumboltz et al., 1986). The PACED framework is useful for students because it breaks the decision-making process into distinct steps, and research shows that it is best to present information to students in small steps and to assist them before moving on to the next step (Rosenshine, 2012). The PACED process also promotes and encourages student choice throughout, and research shows that when students have some choice in their instruction they perceive the activities to be more important and are more engaged (Goodwin, 2010).
The items in this following section detail what must be submitted for evaluation. To earn the micro-credential, you must receive a passing evaluation for Parts 1,3, and 4, and a “Yes” for both artifacts submitted for Part 2.
Submit one video that demonstrates your competence with modeling the PACED process with your class.
Also, submit two samples of student work that shows student engagement with the PACED process.
Provide two written reflections from students who participated in activity used for submission of Part 2. Use the following question as guidance (200-word limit):
Provide a reflection on what you learned, using the following question as guidance (300-word limit):
Please answer a brief survey about your experience teaching personal finance. Your responses will:
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