Course Syllabus

Business Economics & Entrepreneurship

Rm 136

Office Hours 7:30-8:30 M-F or MON 2:30-3:00

vinae@wellesleyps.org

AP® Business with Personal Finance

Instructor: Dr. Erika Vina
Course Length: Full Year

Course Format: 5 blocks p/week for 50 minute periods
Course Level: Advanced Placement (AP)

Course Overview

AP Business with Personal Finance is a rigorous, full-year course designed to introduce students to the fundamentals of business and personal finance through a highly applied, case-based approach. Students explore entrepreneurship, marketing, management, finance, accounting, and investing by analyzing real-world business cases and scenarios.

The course emphasizes both business decision-making and personal financial literacy, equipping students to make informed financial choices and to analyze, lead, and build organizations. Two major applied projects anchor the course:

Business Canvas Project (CR9, CR10) (entrepreneurial venture design)
Financial Advisor Project (CR11) (personal financial planning)

The course aligns with the AP Course and Exam Description (CED) and incorporates the National Standards for Personal Financial Education. (CR2)

Course Resources (CR1)

Students are provided access to college-level materials and supplemental resources that support both business and personal finance content.

Primary Text

Gitman, L. J., McDaniel, C., Shah, A., Reece, M., Koffel, L., Talsma, B., & Hyatt, J. C. (n.d.). Introduction to business. OpenStax. https://openstax.org/details/books/introduction-business

Supplemental Resources

Anderson, Dave, Heidi M. Neck, Christopher P. Neck, and Emma L. Murray. Business with Personal Finance for the AP Course (High School). BFW.
Boone, Louis E., and David L. Kurtz. Contemporary Business. Wiley.
College Board Business Case Studies (e.g., Bombas, New Coke, DK Coffee Lab)
Dlabay, Les, and Brad Kleindl. Principles of Business. 10th edition. Cengage.
Ebert, Robert J. Business Essentials. Pearson.
Federal Reserve Bank of Atlanta. (n.d.). Why should you save and invest?
Gaspar, Julian E., Leonard Bierman, James W. Kolari, Richard T. Hise, L. Murphy Smith, and Antonio Arreola-Risa. Introduction to Business. Academic Media Solutions.
Koning, R., Wallace, N., & Huizinga, S. (2025). Skylight: Hit product or scalable company? Harvard Business School.
NPR. (n.d.). How I Built This [Podcast].
Wall Street Journal. (n.d.). Why global supply chains may never be the same [Documentary].

Statement: These materials provide rigor comparable to a college-level course and include dedicated personal finance content. Students are provided access to college-level resources in print and digital formats that support both business content and personal finance content. (CR1)

Instructional Approach (CR3, CR9, CR10)

Students engage in case-based and project-based learning throughout all units. They read, annotate, discuss, and evaluate real-world business problems and opportunities, and recommend evidence-based courses of action. In parallel, students participate in applied, project-based experiences across marketing, finance, accounting, and management, as well as personal finance skill development. A central component of this approach is the Business Canvas Project (CR9, CR10), a multi-unit, entrepreneurial project in which students design, test, and refine a business idea. Through structured class time, students develop and test hypotheses related to key business components (e.g., customer segments, value proposition, revenue streams) using market research, financial analysis, and iterative feedback.

Course Framework Alignment (CR2)

The course is aligned to the AP Business Course and Exam Description (CED) and is structured around:

Learning Objectives (LOs): What students must be able to do
Essential Knowledge (EK): Foundational content students must understand
Business Application: Case studies + Business Canvas integration

Unit 1: Business, Competition, and New Ideas

Unit Topics Introduced:

1.1 What Is a Business?

1.2 Markets and Competitive Advantage

1.3 PESTEL Factors and the Business Environment

1.4 How Do Business Ideas Originate?

1.5 Vision

1.6 Business Ethics

1.7 Organization, Roles, and Responsibilities

1.8 Supply Chains

Learning Objectives	LO 1.1: Explain the role of business in society LO 1.2: Identify market opportunities
Essential Knowledge	EK 1.1A: Businesses create value through goods/services EK 1.2A: Market needs drive innovation
Concepts	Business purpose, markets, PESTEL, ethics, supply chains (CR2)
Business Cases	Bombas; Skylight; Skylight, Corley Plumbing, Malama ia Floral (CR3)
Business Canvas	Value Proposition, Customer Segments
Project 1	Entrepreneurial Foundations *3,2,1...Pitch!* Role: Entrepreneur Focus: Students develop their own business idea. Product ideation + 5-min pitch (desirability, feasibility, viability); In , students act as entrepreneurs, using the business model canvas to develop and test a business idea. Students focus on customer needs and key business components, culminating in a 2-minute, one-slide pitch presented in mini competitions.
Hypothesis Work (CR10)	Students develop initial hypotheses about customer problems and test via peer feedback and observation
Personal Finance	Opportunity cost; income pathways
Standards*	CR2, CR3, CR5, CR10

Embedded Case Instruction (CR3):
Students analyze the Bombas case to evaluate how a company identifies unmet needs and creates value through a socially driven business model. Students discuss how mission, product design, and customer segmentation contribute to competitive advantage.

Entrepreneurship Activity (Skill 2.C):
Students develop a product idea, gather peer feedback, and present a 5-minute pitch explaining desirability, feasibility, and viability. (CR5)

Communication Activity (Skill 4.B):
Students create and present mission and vision statements tailored to a target audience. (CR7)

Business Canvas Deliverables:
Value proposition, customer segments, problem-solution fit (CR9)

Unit 2: Marketing

Unit Topics Introduced:

2.1 Marketing to Customers

2.2 Consumer Behavior

2.3 Market Research

2.4 Product

2.5 Price

2.6 Place and Channels

2.9 Promotion and Marketing Communications

Learning Objectives	LO 2.1: Explain consumer behavior LO 2.2: Design market research
Essential Knowledge	EK 2.1A: Consumer decisions are influenced by psychological/social factors EK 2.2A: Market research reduces uncertainty
Concepts	Segmentation, targeting, branding, marketing mix
Business Cases	New Coke (College Board), Stanley (College Board), Gong Cha (College Board), Sega of America (College Board), Starbucks: Delivering Customer Service (Harvard Business Publishing)
Business Canvas	Channels, Customer Relationships, Revenue Streams
Project 2	Marketing Management Role: Marketing Manager Focus: Students develop a marketing plan for their business and learn core marketing principles
Hypothesis Work (CR10)	Dedicated class time is provided for students to develop hypotheses and design market research (surveys, interviews) to test assumptions about pricing, branding, and target markets. Students analyze results and revise their Business Canvas accordingly.
Personal Finance	Consumer decision-making; spending behavior
Standards*	CR2, CR3, CR8, CR10

Collaboration Activity (Skills 5.A, 5.D – CR8):
Students work in teams to design a marketing strategy with defined roles and shared objectives.

Entrepreneurship Activity (Skill 2.B – CR5):
Students design and test a minimum viable product using surveys/interviews.

Business Canvas Deliverables (CR9):
Channels, customer relationships, revenue streams

Unit 3: Finance and Accounting

Unit Topics Introduced:

3.1 Saving for Future Purchases

3.2 Borrowing, Credit, and Debt

3.3 Accounting and Financial Management

3.4 Business Expenses

3.5 Financial Capital

3.6 The Income Statement

3.7 The Balance Sheet and Net Worth

3.8 The Cash Flow Statement

3.9 Ethics and Financial Reporting

Learning Objectives	LO 3.1: Interpret financial data LO 3.2: Evaluate funding options LO 3.3: Interpret financial statements LO 3.4: Evaluate funding and capital options
Essential Knowledge	EK 3.1A: Saving and budgeting support financial stability and future goals EK 3.2A: Credit and borrowing involve costs, risks, and trade-offs EK 3.1A: Financial statements reflect business health EK 3.2A: Funding impacts risk, growth & sustainability
Topics	Budgeting, credit, startup costs, financial statements Part 1: Personal Finance: Budgeting, credit, debt management (CR2) Part 2: Business Finance: Startup costs, funding, financial statements, ethics (CR2)
Business Case	DK Coffee Lab; JPMorgan funding DK Coffee Lab (Parts 1–3), AANE case study (College Board), SBA Loan Case Studies, JPMorgan Chase Funding Case (CR3)
Business Canvas	Cost Structure, Revenue Streams, Key Resources
Project 3	Financial Planning for Business Role: Accountant / Financial Planner Focus: Students learn personal finance and accounting to create financial projections and funding proposals. Budget creation + financial projections; Students learn the basics of personal finance and accounting to create sound financial projections for their small business and develop a proposal to secure funding.
Hypothesis Work (CR10)	Students test financial hypotheses (profitability, pricing viability) using projections, break-even analysis, and scenario modeling during structured class time.
Standards*	CR2, CR4, CR7, CR10

Topics: Saving, budgeting, credit, borrowing, basic accounting, financial statements (CR2, CR4)

Concept Application Activity (Skill 1.A):
Students construct and analyze a personal budget using hypothetical income and expenses and explain how budgeting supports financial goals. (CR4)

Communication Assessment (Skill 4.B): Students present a business pitch to potential investors, including financial projections and Business Canvas elements. (CR7)

Business Canvas Deliverables:
Cost structure, key resources, revenue projections (CR9)

Hypothesis Work (CR10): Students test financial hypotheses (profitability, pricing viability) using projections, break-even analysis, and scenario modeling during structured class time.

Unit 4: Management and Strategy

Unit Topics Introduced:

4.1 Management and Leadership

4.2 Evaluating Performance Using KPIs

4.3 Strategy and Decision Making

4.4 Strategic Frameworks: Porter’s Five Forces and SWOT Analysis

Topics: Leadership, KPIs, strategy, decision-making frameworks (CR2)

Learning Objectives	LO 4.1: Analyze management strategies LO 4.2: Evaluate business performance
Essential Knowledge	EK 4.1A: Leadership impacts organizational success EK 4.2A: KPIs measure performance
Topics	Leadership, KPIs, strategic planning
Business Case	Canva; Expression Med; Square Meal Feeds
Business Canvas	Key Activities, Key Partners
Project 4	Business Strategy and Management Role: Business Consultant Focus: Students plan, measure, and manage business performance using key management tools. It is a Consulting-style recommendation project. PACED, SWOT, PESTLE, and 5 thinking hats used prior to the project.
Hypothesis Work (CR10)	Students evaluate strategic hypotheses (scaling, partnerships, operations) using KPI analysis and scenario planning during in-class work sessions.
Personal Finance	Risk vs. reward decision-making
Standards*	CR2, CR6, CR10

Case Studies: C&W KPI (College Board), Canva/Business Profile (College Board), Case Study Expression Med (College Board), Square Meal Feeds (College Board), BREAUX Capital (CR3)

Decision-Making Activity (Skills 3.A–3.D):
Students analyze workplace scenarios, evaluate alternative solutions, and recommend a course of action supported by evidence and decision-making criteria. (CR6)

Consulting Project:
Students identify a real-world business problem and present a strategic recommendation.

Business Canvas Deliverables:
Key partners, key activities (CR9)

Unit 5: Personal Finance and Investing

Learning Objectives	LO 5.1: Develop a financial plan LO 5.2: Evaluate investment strategies
Essential Knowledge	EK 5.1A: Financial planning supports long-term goals EK 5.2A: Investing involves risk and return trade-offs
Topics	Taxes, investing, retirement, insurance
Business Case	Household financial scenarios
Project 5	Financial Advisor Project Role: Financial Advisor Focus: Students apply personal finance skills to advise a fictional household on financial decisions.
Personal Finance	Full financial planning process
Standards*	CR11

Topics: Budgeting, taxes, risk management, investing, retirement (CR2)

Decision-Making Activity (Skills 3.A–3.D): Household Financial Profile, Budget Template

Financial Advisor Project (CR11):
Students analyze a fictional household profile (income, expenses, debt, goals) and develop a comprehensive financial plan including budgeting, investing, and long-term financial strategies.

Time Allocation:
At least four weeks of class time is dedicated to completing all components of the Financial Advisor Project. (CR11)

Unit Outline & Course at a Glance (CR2)

This table provides an overview of the units, pacing, key topics, and cases for the course.

Unit	Title & Exam Weight	Pacing (50-min periods)	Key Topics	Representative Business Cases
Unit 1	Businesses, Competition, and New Ideas (20–30%)	32 class periods	• What Is a Business? • Markets & Competitive Advantage • PESTEL & Business Environment • Idea Generation & Innovation • Vision & Mission • Business Ethics • Organizational Structure & Roles • Supply Chains	Bombas Corley Plumbing Malama Floral Design Beekeeper’s Daughter Pearson 1860
Unit 2	Marketing (20–30%)	27 class periods	• Marketing to Customers • Consumer Behavior • Market Research • Product Strategy • Pricing Strategy • Distribution (Place & Channels) • Promotion & Marketing Communications	Gong cha New Coke Siggi’s Sega Stanley
Unit 3 – Part 1	Personal Saving and Borrowing	12 class periods	• Saving for Future Purchases • Borrowing, Credit, and Debt	(Integrated personal finance scenarios)
Unit 3 – Part 2	Business Finance & Accounting (25–35%)	18 class periods (integrated)	• Accounting & Financial Management • Business Expenses • Financial Capital • Income Statement • Balance Sheet & Net Worth • Cash Flow Statement • Ethics in Financial Reporting	DK Coffee Lab (Parts 1–3) Hershey Yardley
Unit 4	Management and Strategy (15–20%)	20 class periods	• Management & Leadership • Performance Measurement (KPIs) • Strategic Decision-Making • Strategic Frameworks (SWOT, Porter’s Five Forces)	Assort Health Canva BREAUX Capital ExpressionMed Crepes & Waffles Square Meal Feeds
Unit 5	Personal Goals, Budgeting, and Investing	15 class periods (+ 12 earlier PF periods)	• Taxes, Net Income & Budgeting • Risk Management • Saving & Investing (Education, Housing, Retirement)	(Integrated personal finance scenarios)

Major Projects

Students are provided dedicated class time throughout Units 1–4 to complete Business Canvas Project deliverables. Each unit contributes specific components (e.g., value proposition, customer segments, financials), culminating in a final business model and investor pitch. (CR9)

Unit 1: Identify and validate customer problem/need/want (Customer)

Unit 2: Develop Minimum Viable Product (Product) and conduct market testing

Unit 3: Prepare startup costs and projected financials (Finance/Accounting)

Unit 4: Identify key performance indicators (KPIs) for success (Market)

Class time is allocated for hypothesis development and testing via customer interviews, surveys, and MVP iterations.

Financial Advisor Project

Four weeks dedicated to analyzing a fictional household profile, including income, expenses, debts, and financial goals.Students create a comprehensive financial plan incorporating budgeting, investing, insurance, and tax strategies. Deliverables include written reports and oral presentations, with instructor feedback checkpoints. (CR11)

Business Canvas Project Integration

The Business Canvas Project is a required, yearlong, project-based component integrated across Units 1–4. Students work independently or in teams (up to three) to design an entrepreneurial venture addressing a real customer problem, need, or want. Dedicated class time is provided throughout Units 1–4 for students to develop, refine, and test hypotheses related to all six components of the Business Canvas Project (Customer, Product, Organization, Operations, Market, Finance/Accounting). During these structured work periods, students design and conduct primary and secondary market research—including surveys, interviews, focus groups, and A/B testing—to gather evidence and iteratively improve their business models. Students are explicitly taught to: (1) Formulate testable business hypotheses, (2) Design market research instruments, (3) Collect and analyze qualitative and quantitative data, (4) Use findings to revise decisions and iterate their business model (CR9, CR10)

Hypothesis Testing

Students develop and test hypotheses related to the eight key elements of the Business Canvas Project, including customer preferences, pricing strategies, and product-market fit. Activities include survey design, customer interviews, and data analysis. (CR10)

Course Skills Development

The course provides opportunities for students to develop the following skills:

Concept Application: Apply business and financial concepts to real-world scenarios (CR4)

Entrepreneurship: Identify opportunities and develop product ideas (CR5)

Decision Making: Recommend solutions to business problems (CR6)

Communication: Present ideas to specific audiences (CR7)

Collaboration: Work in teams to accomplish tasks (CR8)

Assessment Methods

Case study analysis

Business presentations and pitches

Collaborative marketing and strategy projects

Financial planning exercises

Unit assessments

Rubrics

FRQ-type problem sets (tests/quizzes/practice)

APA Reference Page

College Board. (2023). AANE case study [Case study]. College Board.

College Board. (2023). Bombas [Case study]. College Board.

College Board. (n.d.). AP Business with Personal Finance course and exam description.

College Board. (2024). DK Coffee Lab: Parts 1–3 [Case study]. College Board.

College Board. (2024). Square Meal Feeds [Case study].

College Board. (2023). C&W KPI [Case study]. College Board.

College Board. (2024). Expression Med [Case study]. College Board. https://apcentral.collegeboard.org/…

College Board. (2024). BREAUX Capital [Case study]. College Board.

Federal Reserve Bank of Atlanta. (n.d.). Why should you save and invest?

Gitman, L. J., McDaniel, C., Shah, A., Reece, M., Koffel, L., Talsma, B., & Hyatt, J. C. (n.d.). Introduction to business. OpenStax.

JPMorgan Chase. (2024). Case study: Understanding options for business funding.

Koning, R., Wallace, N., & Huizinga, S. (2025). Skylight: Hit product or scalable company? Harvard Business School.

National Public Radio. (n.d.). How I built this [Podcast].

Pari Passu. (n.d.). SBA loan success stories.

Smith, J. (2025). Business analysis of Canva [Case study]. Harvard Business Publishing. https://hbsp.harvard.edu/…

Wall Street Journal. (n.d.). Why global supply chains may never be the same.

Attendance & Absence Expectations

When You Are Absent:
Students are responsible for keeping up with all classwork, assignments, announcements, and deadlines when they are absent. Check the course materials and announcements before returning to class, and make arrangements to obtain any missed notes, activities, or assignments. An absence does not excuse you from completing work that was assigned during your absence. If you miss an assessment, presentation, or other required activity, it is your responsibility to communicate with me promptly and follow the established make-up procedures.

When Your Teacher Is Absent:
If I am absent, an announcement will be posted notifying you of what to expect. There are two possibilities:

Class is cancelled: You will receive an announcement indicating that class is cancelled. Use the time to complete assigned work, review course materials, or prepare for upcoming lessons.
A substitute teacher is assigned: Class will meet as scheduled with a substitute teacher. You are expected to follow the posted instructions, complete the assigned work, and conduct yourself with the same professionalism and respect expected when I am present.

Whether I or a student is absent, the expectation is that learning continues. Check announcements regularly, take responsibility for your work, and communicate when you have questions.

Grading Policy

Every assignment counts equally toward your grade. Regardless of whether an assignment is a project, test, quiz, analysis paper, presentation, homework assignment, or other classwork, each assignment is worth the same weight within the term.

There are no separate weighting categories for tests, projects, papers, or other types of assignments. If it is assigned and graded, it counts equally. Every assignment matters, so consistent effort throughout the term is essential.

Case study policy

How Your Grades Are Calculated

Your term and year-end grades are calculated as follows:

Period	Weight
Quarter 1 (Q1)	22%
Quarter 2 (Q2)	22%

Quarter 3 (Q3)	22%
Quarter 4 (Q4)	22%
Exam 1 (E1)	12%
Total	100%

Bottom line: Within each quarter, all assignments are weighted equally. Your final year-end grade is then calculated using the percentages above.

One assignment = one grade. Every assignment counts.

Syllabus Changes: The professor reserves the right to modify the syllabus, including course content, assignments, policies, deadlines, and grading requirements, as necessary to support the goals and needs of the course. Students will be notified of any significant changes in a timely manner.

“District accommodations (DCAP) are available to all students, and in the 26-27 school year, WHS is committed to moving this forward with fidelity. While some accommodations can be offered at the moment, others require advanced notice. For example: Extended time on an in-class assessment is a collaborative decision made by the teacher, student, and family to meet individual student needs. The WHS guideline is up to 25% extra time. This accommodation relies on proactive student communication prior to the date of the assessment. The student and teacher must establish how the accommodation will be provided.”