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Money and You: Course Notes

Section 1.6 Homework for Week 1

  1. Be sure the following activities are turned in (if you have not already submitted them):
  2. Recognizing biases. Consider the following scenarios. For each, determine which of the biases we’ve discussed is most affecting the situation. Be sure to explain each of your answers in a sentence or two.
    • A couple is looking to renovate their kitchen and are soliciting bids from various contractors. After receiving all the bids, one person in the couple says, “I know this contractor is willing to do it for $5,000 less, but he was wearing a hat with ________________________on it. I won’t pay anyone who supports that.”
    • A couple is arguing over whether to keep paying for an expensive storage unit rental. One person in the couple argues that they haven’t taken anything out of storage for years and should just sell anything of value in the unit. The other person argues,“I can’t just sell that stuff. Take my record player. I bought that in high school. It’s a vintage. Nobody has the money to pay what its worth.”
    • Grenda Byesalot walks into a Walmart to pick up some groceries. While walking past the clothes section, she notices a huge “Rollback” sign indicating that graphic t shirts are now $4 cheaper than they usually are. Grenda reasons that it would be silly not to buy a shirt now because they’ll just be more expensive later if she waits.
    • Gerard is watching one of his favorite Tik-Tok-ers open a package they just received from a sponsor. After seeing how excited the influencer got and all the likes and hearts flying across the screen, he decided to check out the product for himself.
  3. We targeted three learning objectives this week: life-long learning, metacognitive reflection, and social-emotional skills. For each of the learning goals, write a few sentences as to how this week’s material has helped you progress toward meeting those learning objectives. The three learning goal descriptions are as follows:
    • Life-long learning: Students practice skills and attitudes central to lifelong learning; including a growth mindset that encompasses self-reflection, flexibility, intellectual curiosity, and considers broad perspectives and diversity of thought.
    • Metacognitive reflection: Students reflect on their own wellbeing in the context of the course topic and develop metacognitive reflection abilities that work to promote transfer of wellness behaviors and skills. (“Metacognitive” means thinking about your own though processes.)
    • Social-emotional skills: Students identify personal social, emotional, and cognitive skills to be practiced and developed; including self-awareness, self-management, social awareness, responsible decision making, relationship skills, and communication skills.