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Economics

Economics Standards

Quarters 1 & 3:
(Note: Standards are taught in two semester blocks - Fall and Spring) 
  1. HS.5SS.C1.PO1: I can analyze how and why people meet their wants by choosing among many alternatives. I can analyze how all goods and services are produced as a result of a combination of land, labor, capital, and entrepreneurship. I can analyze the implications of scarcity through marginal analysis by producers, consumers, savers, and investors. 

  2. HS.5SS.C1.PO2: I can analyze productions possibilities curves to describe opportunity costs and trade offs. 

  3. HS.5SS.C1.PO3: I can describe the characteristics of the mixed market economy of the United States in terms of property rights, profit motive, consumer sovereignty, competition, role of the government, rational self-interest, and invisible hand. 

  4. HS.5SS.C1.PO3ADE: Describe the characteristics of the mixed market economy of the United States: a. property rights d. competition e. role of the government.

  5. HS.5SS.C1.PO5: I can demonstrate how to interpret economic information from visual sources.

  6. HS.5SS.C2.PO1AB: Describe how the interdependence of both households and firms is affected by trade, exchange, money, and banking: a. why voluntary exchange occurs only when all participating parties expect to gain from the exchange b. role and interdependence of households, firms, and government in the circular flow model of economic activity. 

  7. HS.5SS.C2.PO2BC: Describe how market function: a. laws of supply and demand b. how a market price is determined c. graphs that demonstrate charges in supply and demand d. how price ceilings and floors cause shortages or surpluses e. comparison of monopolistic and competitive behaviors f. theory of production and the role of cost.

  8. HS.5SS.C2.PO1CE: Describe how the interdependence of both households and firms is affected by trade, exchange, money, and banking: c. roles of entrepreneurs in a market economy and how profit is an incentive that leads entrepreneurs to accept risks of business failure e. importance of rule of law in a market economy for enforcement of contracts. 

  9. HS.5SS.C2.PO2ABDF: Describe how market function:   a. laws of supply and demand   b. how a market price is determined d. how price ceilings and floors cause shortages or surpluses   f. theory of production and the role of cost. 

  10. HS.5SS.C2.PO2CE: Describe how market function: c. graphs that demonstrate charges in supply and demand  e. comparison of monopolistic and competitive behaviors. 

  11. HS.5SS.C4.PO2AB: Describe the effects of international trade on the United States and other nations: a. how people and nations gain through trade b. how the law of comparative advantage leads to specialization and trade.

  12. HS.5SS.C5.PO1: I can explain how education, career choices, and family obligations affect future income. 

  13. HS.5SS.C5.PO2: I can analyze how advertising influences consumer choices. 

  14. HS.5SS.C5.PO3: I can explain short term and long term financial goals and how they relate to income, spending, saving, and investing. 

  15. NES4: Students will understand that people respond predictably to positive and negative incentives. 


Quarters 2 & 4 (in calendar order):
(Note: Standards are calendared in two semester blocks - Fall and Spring) 
  1. HS.5SS.C1.PO4: I can evaluate different economic events using a variety of media sources.

  2. HS.5SS.C2.PO1A: Describe how the interdependence of both households and firms is affected by trade, exchange, money, and banking: a. why voluntary exchange occurs only when all participating parties expect to gain from the exchange. 

  3. HS.5SS.C2.PO1D: Describe how the interdependence of both households and firms is affected by trade, exchange, money, and banking: d. financial institutions and securities market. 

  4. HS.5SS.C3.PO1: I can determine how inflation, unemployment, and gross domestic product statistics are used in policy decisions.

  5. HS.5SS.C3.PO3: I can describe how unemployment impacts the economy, politics, and society.

  6. HS.5SS.C3.PO4: I can analyze fiscal policy and its effect on inflation, unemployment, and economic growth.

  7. HS.5SS.C3.PO5: I can describe the role of the Federal Reserve System and how it influences our economy and monetary policy. 

  8. HS.5SS.C3.PO6: I can explain how unemployment and inflation influence the economy.

  9. HS.5SS.C5.PO4: I can understand the principles of the importance of using credit wisely. 

  10. HS.5SS.C5.PO5: I can explain the benefits and losses in short-term and long-term saving and investment. 

  11. HS.5SS.C5.PO6: I can understand investments available to households and individuals. 


 

Last modified
14:00, 6 Apr 2017

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