|
Standards |
Description |
Lessons |
|
1 |
Explain the
role of
scarcity in answering the basics economic questions of what, how
much, and for whom to produce |
|
|
1.1 |
Identifying the positive and negative aspects of economic growth |
3 |
|
1.2 |
Explaining how voluntary trade between nations illustrates the
benefits of comparative advantage |
|
|
1.3 |
Identifying how factors of
production and the circular flow of goods and services meet market
needs |
5 |
|
2 |
Compare the development and characteristics of the
world's traditional, command, and market economies. |
|
|
2.1 |
Identify modern contributors to
economics |
|
|
2.2 |
Describing the struggle experienced by
economies in transition |
9 |
|
2.3 |
Explaining how the desire for growth
potential, labor supplies, product supplies, and adaptive
capability influence a country's choice of economic system |
9 |
|
2.4 |
Comparing the cost and benefits of
economic growth |
3 |
|
2.5 |
Explain the why the characteristics of
a market economy result in a thriving economy |
5 |
|
2.6 |
Contrasting
economic systems of various countries with the market economy of
the United States |
5 |
|
3 |
Analyze graphs to determine changes in supply and demand and their
effect on equilibrium price and quantity |
|
|
3.1 |
Illustrating how changes in the
determinants of supply and demand affect the supply and demand for
products in the market. |
13 |
|
3.2 |
Explaining the
impact of government imposed price-ceilings and floors and the
impact of taxes and regulations on the market demand for a product. |
12 |
|
4 |
Explain the impact
of the labor market on the economy of the United States |
|
|
4.1 |
Identifying regional characteristics of
the labor force of the United States |
|
|
4.2 |
Explain how supply and demand for labor
affect wages |
3 |
|
4.3 |
Describing
characteristics that are most likely to increase wages and nonwage
benefits |
7 |
|
5 |
Explain the competitive nature of the market system |
|
|
5.1 |
Comparing sole proprietorships,
partnerships, corporations, and cooperatives |
10 |
|
5.2 |
Describing costs and benefits of
entrepreneurial decisions |
5 |
|
5.3 |
Describing how market exchange serves as
a means of economic planning for producers |
|
|
5.4 |
Describing the
functions of financial markets including the stock market and the
bond market. |
|
|
6 |
Explain the
cost and benefits of
government intervention in the economy of the United States |
|
|
6.1 |
Identifying the economic goals of the
United States |
6 |
|
6.2 |
Tracing the impact of government
regulations on business and labor relations |
5 |
|
6.3 |
Explaining conditions where government
intervention may be chosen |
6 |
|
6.4 |
Comparing systems of taxation at
national, state, and local levels |
1 |
|
6.5 |
Predicting the effect of public policy
decisions on the individual |
5 |
|
6.6 |
Explaining the cost and benefit of
running a deficit and large national debt |
3 |
|
6.7 |
Describe the effect
of the patent system of the United States on the number of
inventions produced in the United States |
|
|
7 |
Describe the
methods by which the United States measures domestic output,
national income, and price level |
|
|
7.1 |
Identifying the contribution of final
goods and services to the computation of GDP |
3 |
|
7.2 |
Compares data from various regions of
the United States and other national economies |
|
|
7.3 |
Describe the
function of the CPI |
4 |
|
8 |
Describe the
effect of fluctuation in national output and its relationship to the
causes and costs of unemployment and inflation. |
|
|
8.1 |
Identify factors involved in the
business cycle |
3 |
|
8.2 |
Contrasting monetary, cost-push, and
demand-pull inflation |
4 |
|
8.3 |
Contrasting frictional, structural,
seasonal, and cyclical unemployment |
2 |
|
8.4 |
Describing components of unemployment
statistics as defined by the Bureau of Labor Statistics |
2 |
|
8.5 |
Identifying reasons for regional
differences in unemployment statistics |
|
|
8.6 |
Discuss the pros and cons of
government policies aimed at unemployment and underemployment |
|
|
8.7 |
Comparing causes
for unemployment in Alabama to those in the nation |
|
|
9 |
Describe economic stabilization policies of the United States |
|
|
9.1 |
Explaining how the levels of taxes,
government spending, and interest rates affect consumer and
consumption and saving. |
|
|
9.2 |
Explaining fiscal
policy options for manipulating levels of output and inflation |
|
|
10 |
Explain the role of money and the structure of the banking system
in the United States |
|
|
10.1 |
Contrasting the effectiveness of
bartering and money exchange in an economic system |
3 |
|
10.2 |
Explaining the creation of money
through the multiplier effect |
3 |
|
10.3 |
Explaining the origin of the Federal
Reserve and its influence on inflation and deflation |
5 |
|
10.4 |
Explaining the
function of federal insurance programs in protecting consumer
savings |
|
|
11 |
Explain the
past and present impact of the Federal Reserve on the economy of
the United States |
|
|
11.1 |
Describing the structure and monetary
policies of the Fed |
3 |
|
11.2 |
Describing tools available to the
Federal Reserve to stabilize the economy |
2 |
|
11.3 |
Identifying the
primary responsibilities of the Federal Reserve |
|
|
12 |
Explain the
basic elements of international trade |
|
|
12.1 |
Analyzing the impact of developing
nations on the global economy |
4 |
|
12.2 |
Analyzing the impact of the trade
deficit on the economy of the United States |
|
|
12.3 |
Explain how trade according to the Law
of Comparative Advantage affects both poor and rich nations. |
3 |
|
12.4 |
Analyzing the impact of trade policy
on international trade |
5 |
|
12.5 |
Describing political and economic
alliances |
5 |
