|
|
 Ratings
|
|
|
| Reviewed: |
Nov 22, 2005 by Business Editorial Board |
| Overview: |
Pennywise is a series of four videos produced by the AICPA for their 360 degrees of Financial Literacy initiative that targets grades K-12. Pennywise teaches students about various topics including the history of money, banking concepts, financial concepts, and personal budgeting. Elementary, high school or university students of accounting, business, or economics can appreciate and understand the relationships between the history and value of money, the banking and finance concepts, and relate them to personal budgeting.
The titles of the videos and run times are: History of Money (play time 6:24)
Banking Concepts (play time 6:11)
Finance Concepts (play time 7:48
Personal Budgeting (play time 4:33).
The videos require Real Player or Windows Media Player in either high or low bandwidths. |
| Learning Goals: |
The learning goals vary from video to video. As a result of viewing the History
of Money students will understand: 1) how people progressed from using the
barter system to using paper money; and 2) the concept of an exchange for goods
and services. In Banking Concepts, students will understand how ATMs, bank
cards, checking accounts and savings accounts are used, the importance of record
keeping, the impact bank service charges, and how to use and review a monthly
statement.
From viewing Financial Concepts, students will learn what a CPA
does,
how to comparison shop, how discounts are computed, as well as what
borrowing money involves (interest and installment payments). In addition
decision making among alternatives is introduced.
From viewing Personal Budgeting students lear how to track income and estimate expenses using a T account. |
| Target Student Population: |
The target audience varies from video to video as follows:
History of Money and Banking Concepts are suitable for K-12.
Finance Concepts and Personal Budgeting appear targeted for a slighly higher grade level, perhaps 3rd or 4th through 12.
In addition, students studying Introductory Accounting, Business and Economics may benefit from these videos.
Finally, Pennywise may also be suitable for adult education or appropriate GED classes. |
| Prerequisite Knowledge or Skills: |
No prerequisite knowledge is required for History of Money and Banking Concepts.
However, some basic math skills (addition, subtraction, multiplication and percentages) are
required for Finance Concepts and Personal Budgeting.
Teachers need to have access to and use one of the required computer media applications. |
| Type of Material: |
A collection of four video presentations. |
| Recommended Uses: |
Viewing in class or at home on a personal computer. The site is useful as reference material for students enrolled in both 'brick and mortar' or distance classes. |
| Technical Requirements: |
Requires a computer equipped with Real Player or the Windows Media Player plug-in with low or high bandwidth and audio capability. |
|
|
|
| Strengths: |
Content is clearly presented. The videos are entertaining. Information is
accurate and includes an adequate amount of material. Concepts are nicely
integrated with useful, relevant examples included. Most terms are adequately defined. The videos cover informative topics consistent with todays society. They are presented in an engaging format for the users targeted. |
| Concerns: |
Some terms used are not defined. As a result some of the concepts may be beyond
the age level of a given audience. For example, In Finance Concepts reference is made to financial statements, however, no illustration or explanation follows. In Personal Budgeting reference is made to double entry accounting, but never explained. In addition Finance Concepts and Personal Budgeting probably require context
provided by the teacher. Finally, the films lack an introduction and concluding summary. |
|
|
Potential Effectiveness as a Teaching Tool |
Rating:  |
|
| Strengths: |
The videos are very efficient in that they teach a variety of basic financial
literacy concepts in a relatively short time. Most terms are defined using
examples. Concepts build progressively. The Financial Concepts video
introduces decision making and the complexities of weighing alternatives.
Rather sophisticated concepts are presented in an easy to understand manner. |
| Concerns: |
No learning objectives are provided, nor is prerequisite knowledge. The last
videos include math concepts that require the ability to add, subtract,
multiply or do percentages. The videos would be enhanced had teaching notes been provided. Teachers may have to provide context for the last two films. |
|
|
Ease of Use for Both Students and Faculty |
Rating:   |
|
| Strengths: |
The videos are professionally prepared and of exceptional high quality. They grab
ones attention,
are engaging, and use entertaining formats for the users targeted.
The run time for each video is excellent (4 to 8 minutes in length). |
| Concerns: |
The videos lack a suitable introduction for the content that follows. In particular, the Banking Concepts and Financial Concepts videos begin and end abruptly. Finally, low bandwidth playing may result in the voice and video being unsyncronized at times, buffering pauses, and rough frame advancement. |
|
|
| Other Issues and Comments: |
The videos are very accurate, entertaining and informative. They could be easilty be incorporated in freshman college classes. |
|
