Page 33 - Business Studies 9-10 (2006)

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THE ONTARIO CURRICULUM, GRADES 9 AND 10: BUSINESS STUDIES
Finance
Overall Expectations
By the end of this course, students will:
• demonstrate an understanding of income and spending issues facing individuals and businesses;
• demonstrate an understanding of how banks and other financial institutions operate;
• demonstrate an understanding of effective investment practices;
• analyse the role and importance of credit in personal and business finance.
Specific Expectations
Income Management
By the end of this course, students will:
– distinguish between types of personal income (e.g., gross, disposable, discre- tionary) and types of business income (e.g., gross, net);
– identify the factors that need to be assessed in order to make effective purchasing deci- sions (e.g., cost, quality, guarantees, service, money available, product information);
– demonstrate financial-planning skills and produce a business or personal financial plan (e.g., monthly plan, budget), using appropriate software.
Banking
By the end of this course, students will:
– identify the major financial institutions in Canada (i.e., Schedule I and II banks, trust companies, credit unions, insurance companies);
– evaluate the products and services offered by major Canadian financial institutions;
– identify trends in Canadian banking and financial services (e.g., online banking, ATMs, non-bank financial services);
– compare personal banking needs with commercial banking needs.
Investing
By the end of this course, students will:
– compare the benefits of saving with those of investing;
– describe various types of investment alter- natives available to individuals (e.g., GICs, stocks, bonds, mutual funds, ethical funds) and to businesses (e.g., capital investment, treasury bills, stocks);
– assess the factors that will affect the value of investments over time (e.g., compound interest, rate of inflation, diversification of portfolio).
Credit
By the end of this course, students will:
– explain the advantages and disadvantages of both consumer credit and business credit;
– describe the process of establishing a credit rating and applying for and obtaining credit;
– calculate the total cost of a variety of loans (e.g., balance carried on credit cards, car loan, mortgage).