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 Ratings
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| Reviewed: |
Jun 29, 2006 by Business Editorial Board |
| Overview: |
The Costs of Credit is an Internet lesson plan constructed for high school grades 9 12 to explain how credit differs from cash, checks, or debit cards. |
| Learning Goals: |
As a result of using this tutorial, students should be able to:
Indicate how using credit differs from using cash, checks, or debit cards.
List the determinants for the demand for and supply of credit.
Indicate why credit has a cost.
Determine simple interest, given an interest rate, principal, and period of time. |
| Target Student Population: |
High school accounting and lower level college (introductory financial accounting or introductory business). |
| Prerequisite Knowledge or Skills: |
Basic computer skills. |
| Type of Material: |
Tutorial |
| Recommended Uses: |
Internet lecture, in-class activity, individual homework, or as a self-help tutorial. |
| Technical Requirements: |
Internet Explorer 5.1 or higher. |
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| Strengths: |
The Costs of Credit explains how purchasing with credit differs from using cash, checks, or debit cards and provides resources that can be utilized to gain information on credit terms for various types of loans. The material is fairly basic but well presented with a number of easy to use, visually appealing exercises included. The module is both clear, concise, accruate and relevant. The amount of material included is adequate, well integrated and summarized. Additional information can be accessed by following links to other websites. |
| Concerns: |
The link to Kiplinger.com is not up to date.
The learning object also makes
reference to a link at this site titled, Savings, Borrowing & Todays Averages, which is not there.
If links are to be used, instructors need to make sure content found at the sites is accurate.
No information is presented on blended payments. |
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Potential Effectiveness as a Teaching Tool |
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| Strengths: |
The module specifies learning objectives in an explicit manner and is self-contained. It explains a very important topic to high school and college students. Users have the opportunity to answers multiple choice questions and a short essay to demonstrate understanding. Overall, the module is an effective and efficient teaching tool enhancing student learning in a short time. |
| Concerns: |
The tutorial requires considerable reading before students are engaged interactively.
When completing the second fill-in-the blank
exercise, users may want to review information on credit cards in order to answer the questions. However, when the link is executed, users are taken
out of the fill-in-the blank exercise and have to start again. |
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Ease of Use for Both Students and Faculty |
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| Strengths: |
This module has the appearance of a professionally designed learning object. The site is easy to use with clear or intuitive instructions. It is visually appealing and engaging as well. |
| Concerns: |
See navigation concern raised under Teaching Effectiveness. |
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| Other Issues and Comments: |
Instructors will need to verify the links on the website for Kiplinger to see if directions from the lecture are accurate. |
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