Demonstrate job-specific mathematics skills.
- using mathematical reasoning and processes to accomplish job-specific tasks (e.g., using geometry and algebra to predict required supplies for a construction job, using computer mathematics to create a programming algorithm)
- making calculations related to personal finance (e.g., wage rates, paycheck deductions, taxes).
- What mathematics skills are required to attain an entry-level job in your chosen field? Are more complex mathematics operations required for higher-level jobs? If so, what are they?
- What resources are available to help you improve your mathematics skills?
- Why is mathematics considered a communication skill?
Other Related Standards
Economics and Personal Finance Standards of Learning
The student will demonstrate knowledge of the price system by
- examining the laws of supply and demand and the determinants of each;
- explaining how the interaction of supply and demand determines equilibrium price;
- describing the elasticity of supply and demand; and
- examining the purposes and implications of price ceilings and price floors.
The student will demonstrate knowledge of banking transactions by
- comparing the types of financial institutions;
- examining how financial institutions affect personal financial planning;
- evaluating services and related costs associated with personal banking;
- differentiating among types of electronic monetary transactions;
- preparing all forms necessary for opening and maintaining a checking and a savings account;
- reconciling bank statements;
- comparing costs and benefits of online and traditional banking; and
- explaining how certain historical events have influenced the banking system and other financial institutions.
The student will demonstrate knowledge of credit and loan functions by
- evaluating the various methods of financing a purchase;
- analyzing credit card features and their impact on personal financial planning;
- identifying qualifications needed to obtain credit;
- identifying basic provisions of credit and loan laws;
- comparing terms and conditions of various sources of consumer credit;
- identifying strategies for effective debt management, including sources of assistance;
- explaining the need for a good credit rating;
- comparing the costs and conditions of secured and unsecured loans; and
- comparing the types of voluntary and involuntary bankruptcy and the implications of each.
The student will demonstrate knowledge of income earning and reporting by
- examining how personal choices about education, training, skill development, and careers impact earnings;
- differentiating among sources of income;
- calculating net pay;
- investigating employee benefits and incentives; and
- completing a standard W-4 form.
The student will demonstrate knowledge of taxes by
- describing the types and purposes of local, state, and federal taxes and the way each is levied and used;
- exploring how tax structures affect consumers, producers, and business owners differently;
- computing local taxes on products and services;
- examining potential tax deductions and credits on a tax return;
- explaining the content and purpose of a standard W-2 form; and
- explaining the similarities and differences between state and federal taxation of inheritances.