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Social Studies – Economics
Unit of Study: Money, Banking, and Finance
CURRICULUM OVERVIEW
Second Grading Period – Unit 1
Big Idea
Unit Rationale
Enduring Understandings

When dealing with investments and savings plans there can be both risks and
benefits involved.

While technology has increased the speed at which monetary transactions are
conducted, it has also created many problems.
It is important that student understand the characteristics of money, the historical role of
banks, and the trends in banking today. By examining the world of finance, students will
develop an understanding of savings and investment options.
Overarching Questions

Where does the bank get the money to cash checks?

Should you invest your money in stocks and bonds or keep it in a saving account?
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What happens to the money deposited into savings accounts? How safe is it?
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What changes (including problems) have electronic banking brought?
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What might happen if the dollar lost its store of value?
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How does investing contribute to the free enterprise system?
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What are the potential risks and returns of savings plans and investments?
Lesson 1:

Chapter 10: Money and Banking
o Money
o The History of American Banking
o Banking Today
Lesson 2:

Chapter 11: Financial Markets
o Saving and Investing
o Bonds and Other Financial Assets
o The Stock Market
Lessons for this Unit
Concepts
TEKS
TEKS Eco.4 Economics. The student understands the basic principles of the U.S. free
enterprise system.

Eco.4A Explain the basic principles of the U.S. free enterprise system including
profit motive, voluntary exchange, private property rights, and competition.

Eco.4B Explain the benefits of the U.S. free enterprise system including individual
freedom of consumers and producers, variety of goods, responsive prices, and
investment opportunities.
TEKS Eco.8 Economics. The student understands the role of financial institutions in
saving, investing, and borrowing.

Eco.8A Explain the functions of financial institutions and how the role of financial
institutions has changed over time.

Eco.8B Analyze how financial institutions affect households and businesses.
TEKS Eco.11 Economics. The student understands the basic concepts of consumer
economics.

Eco.11A Analyze the factors involved in the process of acquiring consumer goods
and services including credit, interest, and insurance.

Eco.11B Compare different means by which savings can be invested and the risks
and rewards each poses to the consumer.

Eco.11C Analyze the economic impact of investing in the stock and bond markets.
SAISD © 2008-09 – Second Grading Period
Economics
I can statements highlighted in yellow should be displayed for students.
I can
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(4A) explain the basic principles of the U.S. free enterprise system including
voluntary exchange and private property rights.
(4B) explain the benefits of the U.S. free enterprise system.
(8A) explain the functions of financial institutions and how the role of financial
institutions has changed over time.
(8B) analyze how financial institutions affect households and businesses.
(11A) analyze the factors involved in the process of acquiring consumer goods
and services including credit, interest, and insurance.
(11B) compare different means by which savings can be invested and the
risks and rewards each poses to the consumer.
(11C) analyze the economic impact of investing in the stock and bond market.
(19C) analyze the impact of business cycles on U.S. history including the
stock market crash of 1929.
(19D) identify the contributions of the entrepreneur Amadeo P. Giannini.
Page 1 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Skills
TEKS Eco.19 History. The student understands economic ideas and decisions from the
past that have influenced the present and those of today that will affect the future.

Eco.19C Analyze the impact of business cycles on U.S. history.

Eco.19D Identify the contributions of entrepreneurs, past and present, such as
Mary Kay Ash, Andrew Carnegie, and Bill Gates.
TEKS Eco.23 Social studies skills. The student applies critical-thinking skills to
organize and use information acquired from a variety of sources including electronic
technology.

Eco.23A Analyze information by sequencing, categorizing, identifying cause-andeffect relationships, comparing, contrasting, finding the main idea, summarizing,
making generalizations and predictions, and drawing inferences and conclusions.

Eco.23D Explain a point of view on an economic issue.

Eco.23E Analyze and evaluate the validity of information from primary and
secondary sources for bias, propaganda, point of view, and frame of reference.

Eco.23F Evaluate economic-activity patterns using charts, tables, graphs, and
maps.
(A) TEKS Eco.24 Social studies skills. The student communicates in written, oral, and
visual forms.

Eco.24A Use social studies terminology correctly.
(B) TEKS Eco.25 Social studies skills. The student uses problem-solving and decisionmaking skills, working independently and with others, in a variety of settings.

Eco.25A Use a problem-solving process to identify a problem, gather information,
list and consider options, consider advantages and disadvantages, choose and
implement a solution, and evaluate the effectiveness of the solution.

Eco.25B Use a decision-making process to identify a situation that requires a decision, gather
information, identify options, predict consequences, and take action to implement a decision.
TEKS Eco.26 Science, technology, and society. The student understands the effects
of science and technology on an economy.

Eco.26C Analyze the economic impact of obsolescence created by technological
innovations.
TEKS Eco.27 Science, technology, and society. The student understands the
economic effects of scientific discoveries and technological innovations on households,
businesses, and government.

Eco.27A Give examples of types of economic information available as a result of
technological innovations.
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Eco.27B Explain how scientific discoveries and technological innovations create
the need for rules and regulations to protect individuals and businesses.
I can statements highlighted in yellow should be displayed for students.
I can
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(23A) analyze information from a variety of sources.
(23D) explain a point of view on the issue of the future of money.
(23E) analyze and evaluate the validity of information from primary and
secondary sources for bias, propaganda, point of view, and frame of
reference.
(23F) evaluate economic patterns using charts
(24A) use social studies terminology correctly
(25A) use a problem-solving process to determine how to earn as much
interest or dividends as possible in one year with a start-u[p of $5,000.
(25B) use a decision-making process to invest money to raise funds for a
class field trip.
(26C) analyze the economic impact of electronic commerce on paper and
coins.
(27A) explain how smart cards, a minicomputer, can send signals to other
smart cards and to banking institutions that can monitor use and alert potential
problems.
(27B) explain how advances in technology affect the potential use of electronic
cash.
Evidence of Learning
□
□
Given information on the role of banks the student will analyze the effectiveness of the American banking system with 80% accuracy.
Given information on investments and savings plans students will analyze the risks and benefits involved with 80% accuracy.
SAISD © 2008-09 – Second Grading Period
Economics
Page 2 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Social Studies – Economics
Lesson 1 – Money and Banking
CURRICULUM GUIDE
Second Grading Period – Unit 1
Essential Questions
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Essential Pre-requisite Skills
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What are the three functions of money?
What are the six characteristics of money?
Where do the sources of money’s value come from?
How did the Civil War impact the banking industry?
How has banking changed since the twentieth century?
How does the U.S. measure its money supply?
What purposes do various financial institutions serve?
How has electronic banking changed the industry?


Be familiar with how goods and services contribute to the economy (2nd)
Identify examples of scarcity and the ways scarcity affects production,
distribution, and consumption of goods and services (3 rd)
Producers use natural resources, human resources, and capital goods, (not
money) to make goods and services. (4th)
As a unit of account, money is used to compare the market value of different
goods and services. (8th)
The Teaching Plan
Instructional Model & Teacher Directions
The teacher will…
So students can…
Use the resources found on the Social Studies website and the Social Studies Framework to conduct daily instruction.
Hook

Daily: Upon entering the classroom, have a short problem or idea to graph displayed on an overhead projector
(found in the Transparency Resource Package). Continue modeling (as necessary) an analysis of graphic
information, then gradually relinquishing independence to the students. When modeling, verbalize the steps as you
draw. Clearly and properly label the axes, and always label the curves and changes in any graph. Soon, students
must prepare their answer and be ready to share it with the class in about 5-7 minutes. Have students pair up and
draw graphs on the board or provide blank overhead transparencies for the students to use when presenting. Be
sure to ask for analysis: What is the relationship between the variables? Why? What caused the changes?

Bring in an article on a current news event related to economics. Share with the class and model how to find
answers to these questions: What resources are involved in this event? How does this event affect other parts of the
economy? What forces were at work to cause this event?

From the Economics Video Library, play “The Euro, Part 1.”

Why Do We Need Money? What might life be like if we didn’t have money as we know it today? How would we get
what we need? What about medical care or college? So what is the purpose of money? Think-Ink-Pair-Share or
Consensus 1-3-6 to facilitate thoughtful responses.

Encourage students to keep a record each time they use cash, checks, credit cards, and ATM cards during an
average week, including any trips to an ATM.
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Guided Practice

Guide students to analyze the news media by keeping a current events journal. Each week, find one article from a
newspaper, news magazine, or Internet news site to analyze. The article should cover an important or controversial
economic issue or event. Tape the article into the notebook and answer the following questions: (1) What is the
subject of the article? (2) What is the article’s source? Who wrote it? How might the source affect the way the story
was reported? (3) What is your overall impression of the coverage this news story? Which unanswered questions
remain? What is missing? Is there any detectable bias? (4) What is your opinion about the issue or event covered in
the article? Further support is accessible from the Prentice Hall web site at
http://www.phschool.com/social_studies/newstracker/lesson_support/lesson_plans/understand_news.html

SAISD © 2008-09 – Second Grading Period
Economics
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Analyze economic graphs and evaluate economic
impacts.
Identify the purposes of money.
Document and evaluate personal spending habits.
Maintain Current Events Notebook by clipping
articles from a variety of sources and identifying
relationships in economics. Generic questions can
include:
Record responses to activities in Interactive
Notebook.
Work collaboratively to solve given problems
according to the grouping model and report
Page 3 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.



When reading chapters, use any one of the following strategies according to your professional judgment: Interactive
Reading Strategies.
Guide student reading of the chapter by using support transparencies to graphically organize their learning.
Support student analysis of graphic information by asking questions such as: What is the purpose of the graph and
what is its message? Who might this information be helpful for? How do the variables interact with one another?
When students probe for answers, think in terms of graphical analysis: Can you draw it? Can you see your question
in a graph?
EconEdLink Lessons online that support economic concepts in this lesson:

EconEdLink Lesson: Why Do We Need Money? The students investigate money--its purpose and functions. They
complete an exercise, using the online auction site EBay, to learn why money is critical to an economy.

EconEdLink Lesson: In banking and finance, the role of a bank teller is a key feature. In this lesson, we will
explore how bank tellers could make or break the banking world!
http://www.econedlink.org/lessons/index.cfm?lesson=MM367&page=teacher
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EconEdLink Lesson: Students learn about the purpose of the reserve requirement, how money is "created" in the
economy through fractional reserves, and how the Federal Reserve uses the reserve requirement and loans to
correct economic instability. http://www.econedlink.org/lessons/index.cfm?lesson=EM348&page=teacher

EconEdLink Lesson: Identify the economic concepts involved in banking and the choices and decisions involved in
changing to online banking. Students will collect, review, and evaluate the data on the pros and cons of online
banking; then, form an opinion on the issue of online banking and be able to defend it with empirical evidence.
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EconEdLink Lesson: The practice of saving and investing is definitely a good thing, but there are many ways to
save and invest. In thinking about the options, it is important to consider the degree of risk involved and the potential
for return. Typically, the higher the risk, the higher the potential return. The key is to work up to the riskier
investments, where you stand to earn the most money, but only after you've successfully established some safer
holdings. This lesson walks students through the stages of investing, demonstrating why that sort of sequential
order is important. At the end of the lesson, students are asked to serve as financial advisors and give advice to
people considering investments at different stages of the investment ladder.
http://www.econedlink.org/lessons/index.cfm?lesson=EM707&page=teacher
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EconEdLink Lesson: Banks and Credit Unions: Students learn about banks and credit unions, identifying
similarities and differences between the two types of financial institution. They also evaluate a local bank and credit
union to determine which one would be better suited to their needs.
http://www.econedlink.org/lessons/index.cfm?lesson=MM691&page=teacher
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Debating Current Issues: The Future of Money, pages 269 -270. Will smart cards replace cash? Use facts from the
article to explain the advantages and disadvantages of either side of the debate.
Independent Practice
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EconEdLink Lesson: Why Do We Need Money? Students participate in an exercise in which they conduct
transactions via barter and trade. Their form of “money” must meet the following criteria: a medium of exchange, a
unit of account, and a store of value.
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From the Unit 4 Folder, students analyze the Economic Detective, page 10.
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Analyze the Case Study of Dineh Mohajer, from the Case Studies in Free Enterprise folder.
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Compare credit card payments from the Math Practice folder, p. 9.
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Evaluate various forms of exchange (such as wampum) according to the three uses and six characteristics of
money.
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Understanding Public Opinion Polls, p. 249, analyzing the purpose and responses to polls.
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Amadeo P. Giannini, p. 257, is a resource to utilize as a springboard to research the impact of the Community
Reinvestment Act.
SAISD © 2008-09 – Second Grading Period
Economics
responses during large group meeting.
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Describe the three uses of money.
Explain the six characteristics of money.
Understand the sources of money’s value.
Explain the purpose of the Federal Reserve.
Analyze financial decisions in order to advise
others.
Identify appropriate financial institutions for a
variety of needs.
Determine a medium of exchange that fits the
criteria of money.
Evaluate the benefits and drawbacks of big banks.
Apply mathematical skills to economic situations.
Page 4 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.

Real-life Case Study, page 265, Big Banks and Small – determine the benefits and drawbacks of big banks.
Vocabulary:

money

medium of exchange

barter

unit of account

store of value
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currency
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commodity money
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representative money
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fiat money
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gold standard
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Federal Reserve System
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FDIC
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liquidity
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default
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mortgage
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credit card
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interest
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principal
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debit card
Resources
Textbook:
Prentice Hall, Economics: Principles in Action – Chapter 10
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Print Resources
Junior Achievement Applied Economics program
Internet Resources
 http://www.businessweek.com/ Utilize articles from this resource for classroom
readings/discussions.
 http://www.federalreserveeducation.org/FRED/?CFID=10700323&CFTOKEN=3759951
1 an excellent interactive site for all things monetary
 http://www.rfe.org/ This site provides data from the World Bank, financial markets, U.S.
and regional data, Federal Reserve sites, as well as key terms and definitions.
 http://www.themint.org/kids/learning-and-earning.html an interactive website showing
the relationship between education and income
http://www.phschool.com/atschool/econ/ The website companion to the textbook
http://classroomedition.com/cre/ The Wall Street Journal Classroom Edition
http://www.imf.org/external/index.htm The International Monetary Fund (IMF) works to
meet the economic needs of its members in the changing global economy.
http://www.worldbank.org/ This site features financial and technical information for the
world's developing countries
http://online.wsj.com/mdc/public/page/marketsdata.html This site features market
statistics, including full statistical reports on the economic indicators, such as consumer
credit, consumer price index, retail sales and consumer sentiment, which economists
use to gauge and forecast business conditions.
http://www.younginvestorfund.com/ This site features a no-load mutual fund targeted at
teenagers to help them develop basic financial life skills. This comprehensive investing
program includes a kid-themed fund, investment kit, free college tuition credits,
investment newsletter and various online games where teens can participate to win
prizes
http://www.thinkfinity.org/about.aspx An excellent resource for high-quality lessons!
Media Resources
AIMS Digital Curriculum
Print Resources
SAISD © 2008-09 – Second Grading Period
Economics
Page 5 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Evidence of Learning
Differentiation
What do you do for students who need extra
support?

Provide chapter outline notes by using Presentation
Pro CD-ROM to create an outline for the chapter for
them to include in their Interactive notebooks.
What do you do for students who master the learning
quickly?

Research the history of money throughout the world
and construct an illustrated time line showing major
milestones in the development of modern currency.
If technology allows, students can create an
interactive time line on a campus web site.
SAISD © 2008-09 – Second Grading Period
Interims/TAKS/Benchmarks
College-Readiness
Anticipated Skills for SAT/ACT/College Board
Using corn, cattle, or cotton as a medium of exchange
is an example of
A.
Representative money
B.
Liquidity
C.
Money supply
D.
Commodity money
Economics
Page 6 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Social Studies – Economics
Lesson 2 – Financial Markets
CURRICULUM GUIDE
Second Grading Period
Essential Questions







Essential Pre-requisite Skills
What role does investment play in the free enterprise system?
How are bonds utilized in the financial market?
What are the benefits and risks of being involved in the stock market?
What role do stocks play in the economy?
What are the economic impacts when stocks rise and fall?
How does public perception of the strength/weakness of the stock market affect
the economy?
What factors determine whether the financial market is a “bull market” or a “bear
market”?
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

Analyze a budget (3rd)
Working understanding of the nature and attributes of a “system” (5 th)
Explain the ways resources, belief systems, economic factors, and political
decisions affect technology (6th)
The Teaching Plan
Instructional Model & Teacher Directions
The teacher will…
So students can…
Use the resources found on the Social Studies website and the Social Studies
Framework to conduct daily instruction.
Hook
NOTE: Encourage students to look for articles that relate to economics to include in
their Current Events Journal. Use these as opportunities for “Hooks”.

Daily: Upon entering the classroom, have a short problem or idea to graph
displayed on an overhead projector (found in the Transparency Resource
Package). Continue modeling (as necessary) an analysis of graphic information,
then gradually relinquishing independence to the students. When modeling,
verbalize the steps as you draw. Clearly and properly label the axes, and always
label the curves and changes in any graph. Soon, students must prepare their
answer and be ready to share it with the class in about 5-7 minutes. Have
students pair up and draw graphs on the board or provide blank overhead
transparencies for the students to use when presenting. Be sure to ask for
analysis: What is the relationship between the variables? Why? What caused the
changes?

Guide students to analyze the news media by keeping a current events journal.
Each week, find one article from a newspaper, news magazine, or Internet news
site to analyze. The article should cover an important or controversial economic
issue or event. Tape the article into the notebook and answer the following
questions: (1) What is the subject of the article? (2) What is the article’s source?
Who wrote it? How might the source affect the way the story was reported? (3)
What is your overall impression of the coverage this news story? Which
unanswered questions remain? What is missing? Is there any detectable bias? (4)
What is your opinion about the issue or event covered in the article?

Careers in Economics: Stockbroker, page 13, Guided Reading and Review begins
a dialogue on the role of stocks in the US financial market.
SAISD © 2008-09 – Second Grading Period
Economics

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
Connect economics to daily life.
Analyze and create graphic representations of economic occurrences.
Analyze political cartoons in relation to a historical context.
Explain how to save for retirement.
Page 7 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.

Play the video, “Getting Started,” from the Economics Video Library.

Analyze political cartoons from the Unit 4 folder.
Guided Practice

When reading chapters, use any one of the following strategies according to your
professional judgment: Interactive Reading Strategies.

Guide student reading of the chapter by using support transparencies to
graphically organize their learning.

Support student analysis of graphic information by asking questions such as:
What is the purpose of the graph and what is its message? Who might this
information be helpful for? How do the variables interact with one another? When
students probe for answers, think in terms of graphical analysis: Can you draw it?
Can you see your question in a graph?

EconEdLink Lesson: The Entrepreneur in You? Throughout this lesson students
take note of the role of risk and incentives as factors found in all entrepreneurial
pursuits. They will analyze, compare and evaluate personal characteristics of
entrepreneurs. They will also develop a greater self-understanding as they
determine if they have the traits found in successful entrepreneurs. Finally,
students set goals, which will help them to become more entrepreneurial.
http://www.econedlink.org/lessons/index.cfm?lesson=EM264&page=teacher

EconEdLink Lesson: Business Ownership: How Sweet It Can Be! In this lesson,
students research the three basic types of business organization: sole
proprietorships, partnerships, and corporations. Considering the advantages and
disadvantages of each, they function as consultants offering advice on which form
of business is best suited for different business scenarios. The case studies all
feature real- life entrepreneurs who started businesses producing chocolate candy
and cookies—they all result ultimately in “sweet” success stories. Once students
have made their recommendations, they are provided the identities of their clients
and asked to prepare reports that tell the rest of the story—what happened to
each founder and business. Products featured in this lesson that almost every
student will recognize are the Hershey chocolate bar, Mars M&Ms and Famous
Amos chocolate cookies.
http://www.econedlink.org/lessons/index.cfm?lesson=EM533&page=teacher

EconEdLink Lesson: Business Ownership: The Franchise Option - Students
explore an alternative to starting a business from scratch – investing in a
franchise. They begin by considering the pros and cons of a franchise and
whether this form of business is an option that would fit their personality and
needs. Students then research and analyze franchise opportunities, ultimately
selecting one that they think they might be able to successfully operate in their
own community. While making their choice, students consider a variety of factors
including their personal interests and abilities, the reputation of the product or
service, the franchisor’s ability and willingness to assist the franchisee, and
market factors such as consumer demand and anticipated competition.
http://www.econedlink.org/lessons/index.cfm?lesson=EM543&page=teacher
SAISD © 2008-09 – Second Grading Period
Economics
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Comprehend text utilizing graphic organizers.
Analyze graphic representation of economic occurrences.
Identify, analyze, and reflect upon the characteristics of entrepreneurs with relation to
personal characteristics.
Explore business alternatives to determine which might be appropriate to both their
personality and the needs of the community.
Read stock market reports.
Page 8 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.

EconEdLink Lesson: New York Stock Exchange Made Easy - This lesson will
help students to understand the terms that are associated with the New York
Stock Exchange. It will also help students to read a stock market report found in
any major newspaper or online.
http://www.econedlink.org/lessons/index.cfm?lesson=EM292&page=teacher

EconEdLink Lesson: Developing a Financial Investment Portfolio - Students
are given brief descriptions of three individuals. They act as financial advisors and
develop a financial investment portfolio for each client using internet references as
they analyze various saving options. The internet web sites assist students by
providing information regarding their choices for the portfolios. Students may track
the portfolio over several weeks to assess their investment strategies.
http://www.econedlink.org/lessons/index.cfm?lesson=EM566&page=teacher
Independent Practice

Determining Net Worth, Math Practice folder, p. 10

Tech Explosion and Blue Chip Shuffle, Source Articles folder, pages 33-35

Edward L. Bernays, Case Studies in Free Enterprise folder, pages 22-23

Unit 4 folder:
1. Economic Skills, p. 19
2. Economic Cartoon, p. 23
3. Economic Detective, p. 21

Use online stock quotes to track the price and trading volume of a selected stock
for one week.
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

Vocabulary:

Consumer sovereignty

investment

financial asset

savings bond

municipal bond

corporate bond

junk bond

capital market

money market

primary market

secondary market

capital gain/loss

stock exchange

futures

bull market

bear market
Resources
Textbook:
Prentice Hall, Economics: Principles in Action –

Chapter 11

Saving and Investing

Bonds and Other Financial Assets

The Stock Market
SAISD © 2008-09 – Second Grading Period

Apply mathematics to economic concepts.
Analyze economic cartoons within a historical context.
Explain why people who save money receive interest payments while those who
borrow money make interest payments.
Calculate their own net worth.
Unit 4 Folder – an excellent source for both HOOK and GUIDED PRACTICE

Guided Reading and Review

Economic Cartoons

Economic Skills

Vocabulary Practice

Economic Detective

Section Quizzes
Economics
Page 9 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Evidence of Learning
Differentiation
Interims/TAKS/Benchmarks
College-Readiness
Anticipated Skills for SAT/ACT/College Board
What do you do for students who need extra
support?

Provide chapter outline notes by using Presentation
Pro CD-ROM to create an outline for the chapter for
them to include in their Interactive notebooks.
What do you do for students who master the learning
quickly?

Investigate the world of financial investments and
report on specific career opportunities.
SAISD © 2008-09 – Second Grading Period
Economics
Page 10 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Social Studies – Economics
Unit of Study – Measuring Economic Performance
CURRICULUM OVERVIEW
Second Grading Period – Unit 2
Big Idea
Unit Rationale

Enduring Understandings








Economists use measurements to analyze current economic performance and
predict future performance.
Business cycles fluctuate leading to a variety of factors that influence economic
growth.
Investment in factories, machinery, new technology, and the health, education, and
training of people can raise future standards of living.
A nation’s overall levels of income, employment, and prices are determined by the
interaction of spending and production decisions made by all households, firms,
government agencies, and others in the economy.
Unemployment imposes costs on individuals and nations.
Unexpected inflation imposes costs on many people and benefits some others
because it arbitrarily redistributes purchasing power.
Inflation can reduce the rate of growth of national living standards, because
individuals and organizations use resources to protect themselves against the
uncertainty of future prices.
Federal government budgetary policy and the Federal Reserve System’s monetary
policy influence the overall levels of employment, output, and prices.
It is important to understand how economic performance is measured through
the analysis of economic growth and the factors that contribute to it. Within this
context, students should examine the challenges of unemployment, inflation,
and poverty.
Lessons for this Unit
o
o
Lesson 1: Chapter 12 – Gross Domestic Product and Growth

Gross Domestic Product

Business Growth

Economic Growth
Lesson 2: Chapter 13 – Economic Challenges

Unemployment

Inflation

Poverty
Overarching Questions








How is employment measured?
How does seasonal employment affect workers and economic cycles?
As the structure of the economy changes, what skills are necessary to have in order
to succeed?
What are some examples of national policy (such as NAFTA) that contribute to
globalization?
How is the inflation rate calculated?
How does inflation affect purchasing power?
What are some causes of poverty and how do they shape public policy that attempts
to deal with policy?
How can a family include working adults, but still have an income blow the poverty
threshold?
SAISD © 2008-09 – Second Grading Period
Economics
Page 11 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Skills
Concepts
TEKS
TEKS Specificity - Intended Outcome
TEKS Eco.1 Citizenship. The student understands the rights and responsibilities of
consumers in the U.S. free enterprise system.

Eco.1B Analyze the consequences of an economic decision made by an
individual consumer.
TEKS Eco.7 Economics. The student understands the interaction of supply,
demand, and price.

Eco.7A Identify the determinants that create changes in supply, demand,
and price.

Eco.7B Interpret a supply-and-demand graph using supply-and-demand
schedules.
TEKS Eco.19 History. The student understands economic ideas and decisions from
the past that have influenced the present and those of today that will affect the future.

Eco.19D Identify the contributions of entrepreneurs, past and present, such
as Mary Kay Ash, Andrew Carnegie, and Bill Gates.
TEKS Eco.23 Social studies skills. The student applies critical-thinking skills to
organize and use information acquired from a variety of sources including electronic
technology.

Eco.23A Analyze information by sequencing, categorizing, identifying cause-andeffect relationships, comparing, contrasting, finding the main idea, summarizing,
making generalizations and predictions, and drawing inferences and conclusions.

Eco.23B Create economic models such as production-possibilities curves,
circular-flow charts, and supply-and-demand graphs to analyze economic data.

Eco.23F Evaluate economic-activity patterns using charts, tables, graphs, and
maps.

Eco.23G Use appropriate mathematical skills to interpret social studies
information.
I can statements highlighted in yellow should be displayed for students.
I can

(7A) Identify markets in which they have participated as a buyer and a seller and
describe how the interaction of all buyers and sellers influences prices.

(1B) Predict how prices change when there is either a shortage or surplus of the
product available.

(1B) Predict how prices change when the number of buyers or sellers in a market
changes and explain how the incentives facing individual buyers and sellers are
affected.

(19D) Explain how they can benefit themselves and others by developing special
skills and strengths.

(1B) Debate current issues in economics.

(7B) Create a demand schedule for an individual and a market.
I can statements highlighted in yellow should be displayed for students.
I can use my social studies skills in order to
□
(23B) Interpret a demand graph using demand schedules.
□
(23F) Interpret multi-flow charts
□
(24C) Graph data.
□
(23A) Interpret economic cartoons.
□
(23G) Explain how to calculate elasticity of demand.
□
(23A) Analyze primary sources.
□
(24D) Make effective decisions as consumers, producers, savers, investors,
and citizens.
(C) TEKS Eco.24 Social studies skills. The student communicates in written, oral, and
visual forms.

Eco.24A Use social studies terminology correctly.

Eco.24B Use standard grammar, spelling, sentence structure, and punctuation.

Eco.24C Transfer information from one medium to another including written to
visual and statistical to written or visual using computer software as appropriate.

Eco.24D Create written, oral, and visual presentations of social studies
information.
Evidence of Learning
□
□
□
Given a series of data, students will evaluate the GDP of selected nations with 80% accuracy.
Given information on Gross Domestic Product, students will analyze the factors of GDP and how these factors can change GDP with 80% accuracy.
Given information on the factors involved in employment, students will analyze causes and effects of unemployment with 80% accuracy.
SAISD © 2008-09 – Second Grading Period
Economics
Page 12 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Social Studies – Economics
Lesson 1 – Gross Domestic Product and Growth
CURRICULUM GUIDE
Second Grading Period
Essential Questions









Essential Pre-requisite Skills
What are some ways to calculate a nation’s economic performance?
How is GDP calculated?
In spite of its drawbacks, why is the GDP an accepted method of measuring
the economy?
How does gross domestic product differ from gross national product?
How does aggregate demand affect economic performance?
How have business cycles impacted our history?
How is economic growth measured?
What impacts do population growth, government, and foreign trade have on
economic growth?
How has technology affected productivity?





Explain economic interdependence within and among communities (3 rd)
Knowledge of the Constitution’s design of government and its safeguards (8 th)
Familiarity with the characteristics and benefits of the free enterprise system (8th)
Explain the ways technology and scientific innovation affect U.S. development
(8th)
When consumers make purchases, goods and services are transferred from
businesses to households in exchange for money payments. That money is used
in turn by businesses to pay for productive resources (natural, human, and
capital), and to pay taxes. (8th)
The Teaching Plan
Instructional Model & Teacher Directions
The teacher will…
Use the resources found on the Social Studies website and the Social Studies Framework to conduct daily
instruction.
Hook

Students should routinely share articles and insights from their Current Events notebook.

Daily: Upon entering the classroom, have a short problem or idea to graph displayed on an overhead
projector (found in the Transparency Resource Package). Continue modeling (as necessary) an
analysis of graphic information, then gradually relinquishing independence to the students. When
modeling, verbalize the steps as you draw. Clearly and properly label the axes, and always label the
curves and changes in any graph. Soon, students must prepare their answer and be ready to share it
with the class in about 5-7 minutes. Have students pair up and draw graphs on the board or provide
blank overhead transparencies for the students to use when presenting. Be sure to ask for analysis:
What is the relationship between the variables? Why? What caused the changes?

Read pertinent sections of The Grapes of Wrath by John Steinbeck to illustrate the plight of farmers
as a result of a severe environmental catastrophe.
Guided Practice

When reading chapters, use any one of the following strategies according to your professional
judgment: Interactive Reading Strategies.

Guide student reading of the chapter by using support transparencies to graphically organize their learning.

Support student analysis of graphic information by asking questions such as: What is the purpose of the
graph and what is its message? Who might this information be helpful for? How do the variables interact
with one another? When students probe for answers, think in terms of graphical analysis: Can you draw it?
Can you see your question in a graph?

Chapter 12 - EconEdLink Lesson: Closing the Gap - The students learn what GDP is. They learn different
measures of GDP as well as how GDP per capita can be used to compare countries. They calculate GDP
SAISD © 2008-09 – Second Grading Period
Economics
So students can…







Connect economics to daily life.
Analyze and create graphic representations of
economic occurrences.
Analyze political cartoons in relation to a historical
context.
Interpret economic data.
Calculate GDP.
Determine how poorer countries can compete with richer
countries.
Analyze the impact of the current level of growth on the
Page 13 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
per capita and learn how poorer countries can converge, or close the gap, with richer countries.
http://www.econedlink.org/lessons/index.cfm?lesson=EM602&page=teacher

Chapter 12 - EconEdLink Lesson: A Case Study: Real Gross Domestic Product, May 29, 2008 This Case
Study focuses on the May 29, 2008, report on Real Gross Domestic Product (Real GDP), produced by the
U.S. Bureau of Economic Analysis (BEA). The current data and historical data are explained. The meaning
of GDP and potential impacts of changes of GDP are explored. This Case Study will also raise questions
the impact of the current level of growth on the economy and individuals.
http://www.econedlink.org/lessons/index.cfm?lesson=EM775&page=teacher

Chapter 12 - EconEdLink Lesson: What Causes Inflation? This lesson explores different types of inflation
and terms associated with this economic concept. You may have heard relatives talk about the good old
days when a dollar would buy something. What happened to that dollar? Why won’t it buy as much as it did
last month or last year? What happened is inflation. In this lesson you will examine the various causes and
theories of inflation as well as how it affects different groups in the economy such as savers, lender, and
people living on fixed incomes.
http://www.econedlink.org/lessons/index.cfm?lesson=EM615&page=teacher

Chapter 13 - EconEdLink Lesson: A Case Study: Employment and the Unemployment Rate, May 2, 2008
The case study summarizes the content of the May 2, 2008, U.S. Department of Labor, Bureau of Labor
Statistics, announcement of the unemployment rate and employment data for the month of April, 2008. The
meaning and importance of the data are discussed. Students consider the implications of the data for the
economy and themselves. Exercises are included for reinforcing knowledge of the concepts.
http://www.econedlink.org/lessons/index.cfm?lesson=EM770&page=teacher

Chapter 13 - EconEdLink Lesson: How is Our Economy Doing? - Students learn the meaning and
measurement of six important economic indicators and use the St. Louis Federal Reserve Bank National
Economic Trends website to assess the current state of the economy.
http://www.econedlink.org/lessons/index.cfm?lesson=EM353&page=teacher
Independent Practice

Locate the import/export percentages for the following countries: US, Belgium, Canada, Germany,
France, Mexico, China, and Japan. Create a spreadsheet in Excel (or a bar graph) to display the data.
Research change over time or other countries of interest.

Create a matrix similar to the one on page 319 and research countries of choice.

Economics Assessment Rubrics folder: Writing assignment, pages 6-7.

Unit 5 folder:
o Economics skills, p. 8.
o Careers in Economics: Technology Consultant, p. 11.
o Economic Cartoon, p. 12.
o Economic Detective: p. 10.

Case Studies in Free Enterprise folder: Andrew Carnegie, pages 24-25.

Sources Articles folder: Technological Marvels of the 21st Century, pages 36-38.

Math Practice folder: Determining Economic Growth, page 3.
SAISD © 2008-09 – Second Grading Period
Economics









economy and individuals.
Examine the various causes and theories of inflation and its
impact on various economic groups.
Analyze and interpret economic data to understand its
implications on the economy and themselves.
Assess the current state of the economy.
Explain how GDP is calculated.
Calculate per capita GDP and examine how it can be used
to measure economic growth.
Write a lesson on aggregate supply and aggregate demand,
using the graphs on p. 307 in their explanations. Combine
visuals and text in a way that will explain these complex
topics.
Explain common views of how U.S. business cycles may
change in the future.
Identify the causes and impact of technological progress.
Summarize the impact of population growth, government,
and foreign trade on economic growth.
Page 14 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Vocabulary:

gross domestic product

durable/nondurable goods

gross national product

aggregate supply/demand

economic growth

recession

depression

stagflation
Resources
Textbook
Prentice Hall, Economics: Principles in Action
o Lesson 1: Chapter 12 – Gross Domestic Product and Growth

Gross Domestic Product

Business Growth

Economic Growth
o Lesson 2: Chapter 13 – Economic Challenges

Unemployment

Inflation

Poverty
Unit 5 Folder – an excellent source for both HOOK and GUIDED PRACTICE
o Wall Street Journal
Evidence of Learning
Differentiation
Interims/TAKS/Benchmarks
College-Readiness
Anticipated Skills for SAT/ACT/College Board
What do you do for students who need extra
support?

Provide chapter outline notes by using Presentation
Pro CD-ROM to create an outline for the chapter for
them to include in their Interactive notebooks.
What do you do for students who master the learning
quickly?

Investigate the world of financial investments and
report on specific career opportunities.
SAISD © 2008-09 – Second Grading Period
Economics
Page 15 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Social Studies – Economics
Lesson 2 – Economic Challenges
CURRICULUM GUIDE
Second Grading Period
Essential Questions




Essential Pre-requisite Skills
How are price indexes used to compare changes in prices over time?
What are some recent trends in the inflation rate?
According to government standards, what is the definition of “poor”?
What are some governmental policies designed to combat poverty?


Analyze the effects of economic stagnation. (Grade 6 – Grade 11)
Compare the relationships of contemporary economic systems (World History)
The Teaching Plan
Instructional Model & Teacher Directions
The teacher will…
Use the resources found on the Social Studies website and the Social Studies Framework to conduct daily instruction.
Hook

Students should routinely share articles and insights from their Current Events notebook.

Daily: Upon entering the classroom, have a short problem or idea to graph displayed on an overhead projector
(found in the Transparency Resource Package). Continue modeling (as necessary) an analysis of graphic
information, then gradually relinquishing independence to the students. When modeling, verbalize the steps as you
draw. Clearly and properly label the axes, and always label the curves and changes in any graph. Soon, students
must prepare their answer and be ready to share it with the class in about 5-7 minutes. Have students pair up and
draw graphs on the board or provide blank overhead transparencies for the students to use when presenting. Be
sure to ask for analysis: What is the relationship between the variables? Why? What caused the changes?

Guided Practice

When reading chapters, use any one of the following strategies according to your professional judgment:
Interactive Reading Strategies.

Guide student reading of the chapter by using support transparencies to graphically organize their learning.

Support student analysis of graphic information by asking questions such as: What is the purpose of the graph and
what is its message? Who might this information be helpful for? How do the variables interact with one another?
When students probe for answers, think in terms of graphical analysis: Can you draw it? Can you see your question
in a graph?

Show the Economics Video Library segment “Pink Slips,” about the effects of downsizing, including the retraining of
individuals for new jobs. Ask students to analyze the pros and cons of the new labor market, and have them list
personal qualities and skills that would help a person adjust to a job change.

Debating Current Issues: Welfare and Work, pages 354-355. Analyze the impacts of welfare reform on poverty
levels.

EconEdLink Lesson: A Case Study: Employment and the Unemployment Rate, May 2, 2008, The case study
summarizes the content of the May 2, 2008, U.S. Department of Labor, Bureau of Labor Statistics, announcement
of the unemployment rate and employment data for the month of April, 2008. The meaning and importance of the
data are discussed. Students consider the implications of the data for the economy and themselves. Exercises are
included for reinforcing knowledge of the concepts.
http://www.econedlink.org/lessons/index.php?lesson=EM770&page=teacher

EconEdLink Lesson: What Causes Inflation? This lesson explores different types of inflation and terms associated
with this economic concept. You may have heard relatives talk about the good old days when a dollar would buy
SAISD © 2008-09 – Second Grading Period
Economics
So students can…







Relate to economics in their daily lives
Analyze and create graphic representations of
economic occurrences.
Analyze political cartoons in relation to a historical
context.
Describe how employment is measured.
Explain the effects of unemployment on
Americans.
Determine the effects of inflation.
Analyze the impacts of welfare reform on poverty
levels.
Page 16 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.

something. What happened to that dollar? Why won’t it buy as much as it did last month or last year? What
happened is inflation. In this lesson you will examine the various causes and theories of inflation as well as how it
affects different groups in the economy such as savers, lender, and people living on fixed incomes.
http://www.econedlink.org/lessons/index.php?lesson=EM615&page=teacher
EconEdLink Lesson: The American Standard of Living - For Better or For Worse. Is the distribution of income in
the United States becoming more unequal? Does the average American today have a higher or lower standard of living than the
average American of a generation ago? Will the next generation have a higher or lower standard of living?
http://www.econedlink.org/lessons/index.php?lesson=EM154&page=teacher

Independent Practice

Skills for Life: Analyzing Bar Graphs, page 337

Economics Assessment Rubrics folder: Graphing data, pages 8-9

Simulations and Data Graphing CD-ROM: use the data graphing tools for practice creating and interpreting
graphs.

Social Studies Skills Tutor CD-ROM: utilize interactive practice for critical thinking, reading, visual analysis, and
communication.

Databank: use the variety of graphs for reinforcement and extension of skills, pages 532-547.

Unit 5 folder:
o Economic Skills, p. 19, Analyzing Bar Graphs
o Economic Detective, page 21
o Careers in Economics, Fundraiser, page 22
o Economic Cartoon, page 23

Source Articles folder: Pain Behind the Gain, pages 39-41

Real-life Case Study: Unemployment in a Booming Economy, page 351.

Case Studies in Free Enterprise folder: Fred Smith, pages 26-27

Debating Current Issues: Welfare and Work, pages 354-355
Vocabulary:
 unemployment (frictional, seasonal, structural, cyclical)
 inflation
 purchasing power
 Consumer Price Index
 inflation rate
 hyperinflation
 deflation
 poverty threshold
 poverty rate
 income distribution
SAISD © 2008-09 – Second Grading Period



Use bar graphs to compare and contrast income
and housing costs in five U.S. cities.
Create and interpret graphic data.
Examine the causes and effects of major
challenges to our economy (unemployment,
inflation, poverty) as well as actions the
government takes to decrease their negative
effects.
Resources
Textbook
Prentice Hall, Economics: Principles in Action – Chapter
Primary Resources
U.S. Constitution
Economics
Page 17 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Evidence of Learning
Differentiation
Interims/TAKS/Benchmarks
College-Readiness
Anticipated Skills for SAT/ACT/College Board
What do you do for students who need extra
support?

Provide chapter outline notes by using Presentation
Pro CD-ROM to create an outline for the chapter for
them to include in their Interactive notebooks.
What do you do for students who master the learning
quickly?

Investigate the world of financial investments and
report on specific career opportunities.
SAISD © 2008-09 – Second Grading Period
Economics
Page 18 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Social Studies – Economics
Unit of Study – Government and the Economy
CURRICULUM OVERVIEW
Second Grading Period – Unit 3
Big Idea
Unit Rationale
It is important to understand the ways that the government obtains and spends
resources as well as how it intervenes in the economy. A deep understanding of taxes
and federal spending, fiscal policy and the role of government, and the role of the
Federal Reserve in the economic state of our nation is essential to analyze the impacts
of governmental policies on the economy.
TEKS
TEKS Specificity - Intended Outcome
Concepts
Enduring Understandings

Whenever the benefits of a government policy outweigh its costs, the
government must intervene.

A variety of factors influence government policies that may result in decreased
economic efficiency.

The federal government’s budgetary policy and the Federal Reserve System’s
monetary policy influence the overall levels of employment, output, and prices.

Interest rates rise and fall to balance the amount saved with the amount
borrowed, thereby affecting the allocation of scarce resources between present
and future uses.

Federal government budgetary policy and the Federal Reserve System’s
monetary policy influence the overall levels of employment, output, and prices.
Overarching Questions

How are our taxes spent?

How does the Constitution address the roots of the concept of taxation?

How do individual and corporate taxes differ?

How does federal aid affect both state and local governments?
TEKS Eco.10 Economics. The student understands traditional, command, and
market economic systems.

Eco.10b Compare the U.S. free enterprise system with other economic systems.
TEKS.17 Government. The student understands the economic impact of fiscal policy
decisions at the local, state, and national levels.

Eco.17a Identify types of taxes at the local, state, and national levels and the
economic importance of each.

Eco.17b Analyze the categories of revenues and expenditures in the U.S. federal
budget.
TEKS Eco.19 History. The student understands economic ideas and decisions from
the past that have influenced the present and those of today that will affect the future.

TEKS Eco.19a Analyze the importance of various economic philosophers such
as John Maynard Keynes, Karl Marx, and Adam Smith and their impact on the
U.S. free enterprise system.
TEKS Eco.20 History. The student understands economic concepts embodied in
historical documents including the U.S. Constitution.

Eco.20a Identify economic concepts in the U.S. Constitution including property
rights and taxation.

Eco.20b Analyze the impact of economic concepts in the U.S. Constitution on
contemporary issues and policies.
SAISD © 2008-09 – Second Grading Period
Economics
Lessons for this Unit
o
o
o
Lesson 1: Chapter 14 – Taxes and Government Spending
Lesson 2: Chapter 15 – Fiscal Policy
Lesson 3: Chapter 16 – The Federal Reserve and Monetary Policy
I can statements highlighted in yellow should be displayed for students.
I can

Identify types of taxes at the local, state, and national levels and the economic
importance of each.

Analyze the categories of revenues and expenditures in the U.S. federal budget.

Analyze the importance of various economic philosophers such as John Maynard
Keynes, Karl Marx, and Adam Smith and their impact on the U.S. free enterprise
system.

Identify the economic concepts in the U.S. Constitution including property rights
and taxation.

Analyze the impact of economic concepts in the U.S. Constitution on contemporary
issues and policies.

Compare the U.S. free enterprise system with other economic systems.
Page 19 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Skills
TEKS Eco.23 Social studies skills. The student applies critical-thinking skills to
organize and use information acquired from a variety of sources including
electronic technology.

Eco.23a Analyze information by sequencing, categorizing, identifying causeand-effect relationships, comparing, contrasting, finding the main idea,
summarizing, making generalizations and predictions, and drawing
inferences and conclusions.

Eco.23b Create economic models such as production-possibilities curves,
circular-flow charts, and supply-and-demand graphs to analyze economic
data.

Eco.23f Evaluate economic-activity patterns using charts, tables, graphs,
and maps.

Eco.23g Use appropriate mathematical skills to interpret social studies
information.
I can statements highlighted in yellow should be displayed for students.
I can use my social studies skills in order to
□
(23B) Interpret a demand graph using demand schedules.
□
(23F) Interpret multi-flow charts
□
(24C) Graph data.
□
(23A) Interpret economic cartoons.
□
(23G) Explain how to calculate elasticity of demand.
□
(23A) Analyze primary sources.
□
(24D) Make effective decisions as consumers, producers, savers, investors,
and citizens.
TEKS Eco.24 Social studies skills. The student communicates in written, oral, and
visual forms.

Eco.24a Use social studies terminology correctly.

Eco.24b Use standard grammar, spelling, sentence structure, and
punctuation.

Eco.24c Transfer information from one medium to another including written
to visual and statistical to written or visual using computer software as
appropriate.

Eco.24d Create written, oral, and visual presentations of social studies
information.
Evidence of Learning
□
□
□
Given information on taxation, the student will be able to trace how taxes are spent in the United States with 80% accuracy.
Given information on the Federal Reserve, the student will be able to analyze the effectiveness of monetary policies with 80% accuracy.
Given information on federal aid, the student will be able to analyze the effects of federal aid on the local and state levels with 80% accuracy.
SAISD © 2008-09 – Second Grading Period
Economics
Page 20 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Social Studies – Economics
Lesson 1 – Taxes and Government Spending
CURRICULUM GUIDE
Second Grading Period
Essential Questions




Essential Pre-requisite Skills







What was the intent of the Founding Fathers regarding the powers and limits
of taxation?
How does government get its revenue?
Who bears the burden of taxes?
What criteria do economists use to determine a good tax?
Identify competitors in a community (3rd)
Generalize relationships between producers and consumers (5 th)
Explain how supply and demand affects U.S. consumers and producers (5 th)
Compare ways societies organize economic systems (6 th)
Explain the impact of scarcity on trade and economic interdependence (6 th)
Identify the origins of capitalism, socialism, and communism (World History)
Compare the relationships of contemporary economic systems (World History)
The Teaching Plan
Instructional Model & Teacher Directions
The teacher will…
So students can…
Use the resources found on the Social Studies websiteand the Social Studies
Framework to conduct daily instruction.
Hook

Students should routinely share articles and insights from their Current Events
notebook.

Daily: Upon entering the classroom, have a short problem or idea to graph
displayed on an overhead projector (found in the Transparency Resource
Package). Continue modeling (as necessary) analysis of graphic information, then
gradually relinquishing independence to the students. When modeling, verbalize
the steps as you draw. Clearly and properly label the axes, and always label the
curves and changes in any graph. Soon, students must prepare their answer and
be ready to share it with the class in about 5-7 minutes. Have students pair up
and draw graphs on the board or provide blank overhead transparencies for the
students to use when presenting. Be sure to ask for analysis: What is the
relationship between the variables? Why? What caused the changes?

Use the table on page 360, Figure 14.1, to generate a discussion of how different
tax structures affect taxpayers. Supplement this discussion with transparency
14A, Tax Structures, from the Transparency Resource Package.
Guided Practice

When reading chapters, use any one of the following strategies according to
your professional judgment: Interactive Reading Strategies.

Guide student reading of the chapter by using support transparencies to
graphically organize their learning.

Support student analysis of graphic information by asking questions such as:
What is the purpose of the graph and what is its message? Who might this
information be helpful for? How do the variables interact with one another? When
students probe for answers, think in terms of graphical analysis: Can you draw it?
Can you see your question in a graph?
SAISD © 2008-09 – Second Grading Period
Economics












Connect economics to daily life.
Analyze and create graphic representations of economic occurrences.
Analyze political cartoons in relation to a historical context.
Analyze and interpret graphs to identify economic patterns.
Analyze and evaluate government spending practices.
Identify the roots of the concept of taxation in the US Constitution.
Describe types of tax bases and tax structures.
Describe the process of paying individual income taxes.
Explain the basic characteristics of corporate income taxes.
Understand the purpose of Social Security, Medicare, and unemployment taxes.
Distinguish between mandatory and discretionary spending.
Explain the impact of federal aid to state and local governments.
Page 21 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.

EconEdLink Lesson: Tax Time Scavenger Hunt Income taxes can be confusing,
but there are a lot of online resources to help us understand them! This lesson
takes students through four useful sites, asking them to look for specific
information that will broaden their understanding of how income taxes work.
http://www.econedlink.org/lessons/index.cfm?lesson=EM748&page=teacher

EconEdLink Lesson: What Do You Get for Your $1,818,600,000,000? Using MS
Excel and data from the Bureau of Economic Analysis web site on federal
government spending, students will compare the amounts spent on various
sectors and programs over a range of years.
http://www.econedlink.org/lessons/index.php?lesson=EM319&page=teacher

EconEdLink Lesson: Tax Time Scavenger Hunt Income taxes can be confusing,
but there are a lot of online resources to help us understand them! This lesson
takes students through four useful sites, asking them to look for specific
information that will broaden their understanding of how income taxes work.
http://www.econedlink.org/lessons/index.php?lesson=MM748&page=teacher
Independent Practice

Skills for Life: Distinguishing Fact from Opinion, page 364

Economics Assessment Rubrics folder: Writing Assignment, pages 6-7

Simulations and Data Graphing CD-ROM: use the data graphing tools for
practice creating and interpreting graphs.

Social Studies Skills Tutor CD-ROM: utilize interactive practice for critical
thinking, reading, visual analysis, and communication.

Databank: use the variety of graphs for reinforcement and extension of skills,
pages 532-547.

Unit 6 folder:
o Economic Skills, p. 19, Analyzing Bar Graphs
o Economic Detective, page 12
o Careers in Economics, Tax Preparer, page 13
o Economic Cartoon, page 14

Source Articles folder: Taxing Dilemma, pages 42-44

Real-life Case Study: The Bush Tax Cut, page 381.

Case Studies in Free Enterprise folder: John F. Kennedy, pages 28-29.

Economic Profile: Henry J. Aaron, page 370.

Economics Simulation: Voluntary Contributions, pages 384-385



Explain how states use a budget to plan their spending.
Identify where state taxes are spent.
Describe local government spending and sources of revenue.



Distinguish fact from opinion in a political speech.
Summarize an economic argument.
Analyze economic trends and conditions as causal factors for current events and
perceptions.
Identify and evaluate changes in Congressional policies.
Identify potential problems with economic policies.
Analyze categories of budget expenditures in the federal budget.
Vocabulary:
 tax
 revenue
 tax base
 individual income tax
 sales tax
 property tax
 corporate income tax
 proportional tax
 progressive tax
 regressive tax
Resources
SAISD © 2008-09 – Second Grading Period



Textbook
Prentice Hall, Economics: Principles in Action – Chapter 14
Print Resources
“The Federal Reserve,” a comprehensive package of video and ancillary materials for
teaching, is available at no cost to teachers from the Federal Reserve Bank of San
Francisco.
Related Lessons on the Web:
Economics
Page 22 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.









withholding
tax return
estate/gift tax
mandatory/discretionary spending
entitlement
operating/capital/balanced budget
tax exempt
real/personal property
tax assessor
Evidence of Learning
Differentiation
What do you do for students who need extra
support?

Provide chapter outline notes by using Presentation
Pro CD-ROM to create an outline for the chapter for
them to include in their Interactive notebooks.
Interims/TAKS/Benchmarks
The federal budget is put together
F every other year.
G by Congress and the White House.
What do you do for students who master the learning
quickly?
H to report to Congress on the
preceding year’s expenditures.

J
Investigate the world of financial investments and
report on specific career opportunities.
SAISD © 2008-09 – Second Grading Period
College-Readiness
Anticipated Skills for SAT/ACT/College Board
in order to reimburse state
governments for costs of federally
funded programs.
Economics
Page 23 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Social Studies – Economics
Lesson 2 – Fiscal Policy
CURRICULUM GUIDE
Second Grading Period
Essential Questions




Essential Pre-requisite Skills
How does government use fiscal policy as a tool for achieving its economic goals?
How does the government create the federal budget?
What role has fiscal policy played in American history?
How do budget deficits impact the national debt?





Explain how supply and demand affects price (3 rd)
Explain how cost of production and selling price affects profits (3 rd)
Explain how supply and demand affects U.S. consumers (5 th)
Define and explain primary, secondary, tertiary, and quaternary industries (6 th)
Describe ho changes in technology, transportation, and communication affect
economic activities (World Geography)
 Describe the characteristics of and explain how traditional, command, and market
economies operate (World Geography)
The Teaching Plan
Instructional Model & Teacher Directions
The teacher will…
Use the resources found on the Social Studies websiteand the Social Studies Framework to conduct daily
instruction.
Hook

Students should routinely share articles and insights from their Current Events notebook.

Daily: Upon entering the classroom, have a short problem or idea to graph (such as on page 126)
displayed on an overhead projector. Students must prepare their answer and be ready to share it with
the class in about 5-7 minutes. Have students pair up and draw graphs on the board or provide blank
overhead transparencies for the students to use when presenting. Be sure to ask for analysis.

On page 404, a kinesthetic activity is outlined to utilize as a reinforcement of the concepts of surplus
and deficit.

Present news articles related to the financial bailout crisis of 2008 and compare the situation to the
Great Depression. What are some similarities/differences? What precipitated both events? What
governmental policies arose as a result of these events?

Explore the concept of the Laffer curve (see page 399) and guide students through creating a survey
of classmates regarding how many hours they would work when taxed at a variety of rates.
Guided Practice

When reading chapters, use any one of the following strategies according to your professional
judgment: Interactive Reading Strategies.

Guide student reading of the chapter by using support transparencies to graphically organize their
learning.

Support student analysis of graphic information by asking questions such as: What is the purpose of
the graph and what is its message? Who might this information be helpful for? How do the variables
interact with one another? When students probe for answers, think in terms of graphical analysis: Can
you draw it? Can you see your question in a graph?

EconEdLink Lesson: The Role of Government: The Federal Government and Fiscal Policy.
Students will visit “A Citizen’s Guide to the Federal Budget,” and use the federal government web site
to obtain information which will help them understand basic information about the budget of the United
SAISD © 2008-09 – Second Grading Period
Economics
So students can…











Connect economics to daily life.
Analyze and create graphic representations of economic
occurrences.
Analyze political cartoons in relation to a historical context.
Explain the concepts of surplus and deficit.
Explain the differences between the national debt and the
national deficit.
Evaluate the role of government with respect to economics.
Summarize trends shown in data.
Explain the idea of Keynesian economics.
Compare and contrast classical economics and Keynesian
economics.
Explain the basic principles of supply-side economics.
Understand the role that fiscal policy has played in American
history.
Page 24 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
States Government for the current fiscal year.
http://www.econedlink.org/lessons/index.php?lesson=EM190&page=teacher

EconEdLink Lesson: The Role of Government: The National Debt vs. The Deficit. This lesson
defines and compares the National Debt with the National Deficit. Students will discover the differences
between the two and look at current trends. Students will examine the amount of per-capita debt and be
exposed to the reality of the amount the national debt is increasing every day or two despite recent budget
surpluses.
http://www.econedlink.org/lessons/index.php?lesson=EM184&page=teacher

EconEdLink Lesson: The Economics of the New Deal. The stock-market crash of 1929 is generally
seen as the start of The Great Depression, the worst economic downturn in the history of the United
States. The Depression had devastating effects on the country. But it also served as a wake-up call for
economic reform. Until the Great Depression, the U.S. government had made very few modifications
to the nation's economic policies. It left the dealings of the economy and businesses to their own
devices. But once the Great Depression began the nation needed help, FAST! The stock market was
in shambles. Many banks closed. Farmers fell into bankruptcy and were forced off their land. Twentyfive percent of the work force, or 13 million people, were unemployed in 1932. In 1933, the Roosevelt
Administration addressed the problem by making the government a key player in the nation’s
economy. Using his New Deal as a force for reform, President Roosevelt created policies, agencies
and standards to help alleviate serious problems. The reforms provided America with an economy that
has been relatively stable for almost 80 years. Students will be prompted to think about the different
programs and policies the New Deal created and how they are relevant to the role of government, and
fiscal, and monetary policy, both then and now.
http://www.econedlink.org/lessons/index.php?lesson=EM459&page=teacher
Independent Practice

Skills for Life: Comparing Circle Graphs page 394

Economics Assessment Rubrics folder: Writing Assignment, pages 6-7

Simulations and Data Graphing CD-ROM: use the data graphing tools for practice creating and
interpreting graphs.

Social Studies Skills Tutor CD-ROM: utilize interactive practice for critical thinking, reading, visual
analysis, and communication.

Databank: use the variety of graphs for reinforcement and extension of skills, pages 532-547.

Unit 6 folder:
o Economic Skills, p. 21
o Economic Detective, “Troubles in Wesfed,” page 23
o Careers in Economics, Accountant, page 24
o Economic Cartoon, page 25

Source Articles folder: Tax Holiday in Texas, pages 45-47

Real-life Case Study: Will Social Security Survive? , page 409.

Case Studies in Free Enterprise folder: Paul Ehrlich, pages 30-31.

Economic Profile: John Maynard Keynes, page 402

Debating Current Issues: Tax Credits, pages 412-413
SAISD © 2008-09 – Second Grading Period
Economics




Explain the importance of balancing the budget.
Analyze how budget deficits add to the national debt.
Summarize the problems caused by the national debt.
Identify how a government can reduce budget deficits and the
national debt.


Create and interpret graphs.
Analyze graphs to understand economic concepts within a
historical context.
Identify a problem and pose a solution.
Examine and evaluate possible solutions to a problem.
Explain Keynesian economics.
Evaluate governmental programs and policies.
Determine a problem to be solved, describe who or what is
affected by the issue, and propose a plan of action.
Evaluate the uses of taxation.






Page 25 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Vocabulary:

fiscal policy

federal budget

fiscal year

appropriations bill

expansionary/contractionary policies

classical economics

productive capacity

demand-side economics

balanced budget

budget surplus

budget deficit

hyperinflation

national debt
Resources
Textbook Prentice Hall, Economics: Principles in Action – Chapter 15
Evidence of Learning
Differentiation
What do you do for students who need extra
support?

Provide chapter outline notes by using Presentation
Pro CD-ROM to create an outline for the chapter for
them to include in their Interactive notebooks.
What do you do for students who master the learning
quickly?
 Investigate the world of financial investments and
report on specific career opportunities.
Interims/TAKS/Benchmarks
The federal budget is put together
F every other year.
G by Congress and the White House.
H to report to Congress on the
preceding year’s expenditures.
J
SAISD © 2008-09 – Second Grading Period
College-Readiness
Anticipated Skills for SAT/ACT/College Board
in order to reimburse state
governments for costs of federally
funded programs.
Economics
Page 26 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Social Studies – Economics
Lesson 3 – The Federal Reserve and Monetary Policy
CURRICULUM GUIDE
Second Grading Period
Essential Questions




Essential Pre-requisite Skills







What impact has the Federal Reserve Act had on American economics?
What are the intended and the actual roles of the Federal Reserve?
How is money created?
Why are some monetary policies favored over others?
Identify competitors in a community (3rd)
Generalize relationships between producers and consumers (5 th)
Explain how supply and demand affects U.S. consumers and producers (5 th)
Compare ways societies organize economic systems (6 th)
Explain the impact of scarcity on trade and economic interdependence (6 th)
Identify the origins of capitalism, socialism, and communism (World History)
Compare the relationships of contemporary economic systems (World History)
The Teaching Plan
Instructional Model & Teacher Directions
The teacher will…
So students can…
Use the resources found on the Social Studies websiteand the Social Studies
Framework to conduct daily instruction.
Hook

Students should routinely share articles and insights from their Current Events
notebook.

Daily: Upon entering the classroom, have a short problem or idea to graph
displayed on an overhead projector. Students must prepare their answer and be
ready to share it with the class in about 5-7 minutes. Have students pair up and
draw graphs on the board or provide blank overhead transparencies for the
students to use when presenting. Be sure to ask for analysis.

Utilize the Presentation Pro CD-ROM, with animated graphs, to introduce
content.
Guided Practice / Multiple activities to choose from

When reading chapters, use any one of the following strategies according to
your professional judgment: Interactive Reading Strategies.

Guide student reading of the chapter by using support transparencies to
graphically organize their learning.

Support student analysis of graphic information by asking questions such as:
What is the purpose of the graph and what is its message? Who might this
information be helpful for? How do the variables interact with one another? When
students probe for answers, think in terms of graphical analysis: Can you draw it?
Can you see your question in a graph?

EconEdLink Lesson: This Case Study focuses on the April 30, 2008,
announcement by the Federal Open Market Committee on the current Federal
Reserve monetary policy actions and goals. This case study is intended to guide
students and teachers through an analysis of the actions the Federal Reserve is
taking and can take in influencing prices, employment, and economic growth. An
understanding of monetary policy in action is fundamental to developing a
SAISD © 2008-09 – Second Grading Period
Economics














Connect economics to daily life.
Analyze and create graphic representations of economic occurrences.
Analyze political cartoons in relation to a historical context.
Explain why the Federal Reserve Act of 1913 led to further reform.
Explain the structure of the Federal Reserve System.
Describe how the Federal Reserve serves the federal government.
Understand the Federal Reserve’s role in regulating the nation’s money supply.
Describe the process of money creation.
Explain how the Federal Reserve uses reserve requirements, the discount rate, and
open market operations to implement US monetary policy.
Understand why some monetary tools are favored over others.
Understand how monetary policy works.
Explain the problems of timing and policy lags in implementing monetary policy.
Explain how predictions about the length of a business cycle affect monetary policy.
Describe two distinct approaches to monetary policy.
Page 27 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.


thorough understanding of macroeconomics, the dynamics of the U.S. economy,
and current economic conditions.
http://www.econedlink.org/lessons/index.cfm?lesson=EM768&page=teacher
EconEdLink Lesson: This Case Study focuses on the monthly report on Real
Gross Domestic Product (Real GDP), produced by the U.S. Bureau of Economic
Analysis (BEA). The current data and historical data are explained. The meaning
of GDP and potential impacts of changes of GDP are explored. This Case Study
will also raise the question about a potential recession in the United States in
2008.
http://www.econedlink.org/lessons/index.cfm?lesson=EM752&page=teacher
EconEdLink Lesson: A Case Study: The Federal Reserve and Monetary
Policy, April 30, 2008. This Case Study focuses on the April 30, 2008,
announcement by the Federal Open Market Committee on the current
Federal Reserve monetary policy actions and goals. This case study is
intended to guide students and teachers through an analysis of the actions
the Federal Reserve is taking and can take in influencing prices,
employment, and economic growth. An understanding of monetary policy in
action is fundamental to developing a thorough understanding of
macroeconomics, the dynamics of the U.S. economy, and current economic
conditions.
http://www.econedlink.org/lessons/index.php?lesson=EM768&page=teacher
Independent Practice










Skills for Life: Recognizing Bias in Writing, page 419
Economics Assessment Rubrics folder: Writing Assignment, pages 6-7
Simulations and Data Graphing CD-ROM: use the data graphing tools for
practice creating and interpreting graphs.
Social Studies Skills Tutor CD-ROM: utilize interactive practice for critical
thinking, reading, visual analysis, and communication.
Databank: use the variety of graphs for reinforcement and extension of skills,
pages 532-547.
Unit 6 folder:
o Economic Skills, p. 34, Recognizing Bias in Writing
o Economic Detective, “Fulla Favors the Fed, page 36
o Careers in Economics, Wire Transfer Analyst, page 37
o Economic Cartoon, page 38
Source Articles folder: Fed’s Next Move, pages 48-50
Real-life Case Study: Banking, Monetary Policy, and the Great Depression, page
435.
Case Studies in Free Enterprise folder: Amartya Sen, pages 32-33.
Economic Profile: Alan Greenspan, page 424.
SAISD © 2008-09 – Second Grading Period
Economics
 Recognize bias in writing and analyze a writer’s point of view.
 Locate an editorial related to economics and identify any bias in the writing.
 Explain how a sharp increase in interest rates by the Fed could slow inflation but
also lead to higher unemployment and a recession.
 Explain how the Federal Reserve might use open market operations, reserve
requirements, and the discount rate to bring about changes in the money supply.
 Analyze how the discount rate can affect the amount of money in circulation by
affecting how much money banks lend to their customers.
 Examine the current trend in discount rate policy.
Page 28 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Vocabulary:
 federal funds rate
 excess reserves
 money creation
 tight money policy
 check clearing
 bank holding company
 federal funds rate
 discount rate
 net worth
 prime rate
Resources
Textbook Prentice Hall, Economics: Principles in Action – Chapter 16
Media Resources
AIMS Digital Curriculum
Evidence of Learning
Differentiation
What do you do for students who need extra
support?

Provide chapter outline notes by using Presentation
Pro CD-ROM to create an outline for the chapter for
them to include in their Interactive notebooks.
Interims/TAKS/Benchmarks
College-Readiness
Anticipated Skills for SAT/ACT/College Board
2004 AP Exam
The federal budget is put together
F every other year.
G by Congress and the White House.
What do you do for students who master the learning
quickly?

Investigate the world of financial investments and
report on specific career opportunities.
H to report to Congress on the
preceding year’s expenditures.
J
SAISD © 2008-09 – Second Grading Period
in order to reimburse state
governments for costs of federally
funded programs.
Economics
Page 29 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Social Studies – Economics
Unit of Study – The Global Economy
CURRICULUM OVERVIEW
Second Grading Period – Unit 3
Big Idea
Unit Rationale
Enduring Understandings




Voluntary exchange occurs only when all participating parties expect to gain.
When individuals, regions, and nations specialize in what they can produce at the
lowest cost and then trade with others, both production and consumption increase.
Markets exist when buyers and sellers interact. This interaction determines market
prices and thereby allocates scarce goods and services.
Investment in factories, machinery, new technology, and the health, education, and
the training of people can raise future standards of living.
Overarching Questions

Why do nations trade?

How do you measure human capital?

Why do nations impose trade barriers?

How does a nation improve its economy and standard of living?

How do we measure levels of development?

What role does infrastructure play in economic development?

What political factors are obstacles to development?
Because resources are not allocated equally, people must trade to satisfy wants and
needs. Nations take action to restrict or increase trade, thereby ensuring participation
within a complex global economy.
Lessons for this Unit


Lesson 1: Chapter 17: International Trade
o Why Nations Trade
o Trade Barriers and Agreements
o Measuring Trade
Lesson 2: Chapter 18: Economic Development and Transition
o Levels of Development
o Issues in Development
o Financing Development
o Transitions to Free Enterprise
Concepts
TEKS
TEKS Specificity - Intended Outcome
TEKS Eco.10 Economics. The student understands traditional, command, and
market economic systems.
□ Eco.10a Explain the characteristics and give examples of traditional, command,
and market economic systems.
□ Eco.10b Compare the U.S. free enterprise system with other economic systems.
TEKS Eco.12 Geography. The student understands the geographic significance of
the economic factors of production.
□ Eco.12a Describe the effects of the unequal distribution of economic factors of
production.
□ Eco.12b Analyze the locations of resources used in the production of an
economic good and evaluate the significance of the locations.
TEKS Eco.13 Geography. The student understands the reasons for international
trade and its importance to the United States.
□ Eco.13a Explain the concepts of absolute and comparative advantages.
□ Eco.13b Apply the concept of comparative advantage to explain why and how
countries trade.
□ Eco.13c Analyze the impact of U.S. imports and exports on the United States
and its trading partners
□ Eco.13d Analyze changes in exchange rates of world currencies and the effects
on the balance of trade.
SAISD © 2008-09 – Second Grading Period
Economics
I can statements highlighted in yellow should be displayed for students.
I can
□
□
□
□
□
□
□
□
(10a, 10b) Compare, contrast and analyze different types of economic
systems.
(12a, 12b) Describe how unequal distribution of the factors of production
causes differences in the global economy and analyze the importance of
the location of these factors.
(13a) Explain the concepts of absolute and comparative advantages.
(13b) Explain how and why countries trade with each other.
(13c) Analyze the effects of trade and exports on the US economy as well
as the global economy.
(13d) Analyze the changes in the different value of world currencies and
how their values affect the balance of trade.
(14a) Explain how barriers and free trade affect economic activities.
(14b) Evaluate the pros and cons of entering into international free-trade
agreements.
Page 30 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Skills
TEKS Eco.14 Geography. The student understands the issues of free trade and the
effects of trade barriers.
□ Eco.14a Compare the effects of free trade and trade barriers on economic
activities.
□ Eco.14b Evaluate the benefits and costs of participation in international freetrade agreements.
TEKS Eco.23 Social studies skills. The student applies critical-thinking skills to
organize and use information acquired from a variety of sources including electronic
technology.

Eco.23A Analyze information by sequencing, categorizing, identifying cause-andeffect relationships, comparing, contrasting, finding the main idea, summarizing,
making generalizations and predictions, and drawing inferences and conclusions.

Eco.23B Create economic models such as production-possibilities curves,
circular-flow charts, and supply-and-demand graphs to analyze economic data.

Eco.23F Evaluate economic-activity patterns using charts, tables, graphs, and
maps.

Eco.23G Use appropriate mathematical skills to interpret social studies
information.
I can statements highlighted in yellow should be displayed for students.
I can use my social studies skills in order to
□
(23B) Interpret a demand graph using demand schedules.
□
(23F) Interpret multi-flow charts
□
(23A) Interpret economic cartoons.
□
(23G) Explain how to calculate elasticity of demand.
(D) TEKS Eco.24 Social studies skills. The student communicates in written, oral, and
visual forms.

Eco.24A Use social studies terminology correctly.

Eco.24B Use standard grammar, spelling, sentence structure, and punctuation.

Eco.24C Transfer information from one medium to another including written to
visual and statistical to written or visual using computer software as appropriate.

Eco.24D Create written, oral, and visual presentations of social studies
information.

Evidence of Learning
□
□
□
Given a political cartoon related to economics, students will interpret and describe the cartoonist’s perspective and provide a reflection on its validity, citing specific examples
with 80% accuracy.
Given information on international trade, the student will evaluate the pros and cons of international free-trade agreements with 80% accuracy.
Given information on geographic distribution of factors of production the student will analyze the role of geography on the location of these factors and why location is
important with 80% accuracy.
SAISD © 2008-09 – Second Grading Period
Economics
Page 31 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Social Studies – Economics
Lesson 1 – International Trade
CURRICULUM GUIDE
Second Grading Period
Essential Questions




Essential Pre-requisite Skills



How does geography influence trade?
How do imports and exports impact local economies?
Is a nation better off when it trades or when it’s self-sufficient?
How important is the exchange of ideas to local and global economies?
International trade and commerce (Grade 6-Grade11)
Importing and exporting (Grade 4-Grade 11)
Analyzing political cartoons (Grade 7-Grade 11)
The Teaching Plan
Instructional Model & Teacher Directions
The teacher will…

So students can…
Use the resources found on the Social Studies websiteand the Social Studies
Framework to conduct daily instruction.
Hook:

Students should routinely share articles and insights from their Current Events
notebook.

Daily: Upon entering the classroom, have a short problem or idea to graph
displayed on an overhead projector. Students must prepare their answer and be
ready to share it with the class in about 5-7 minutes. Have students pair up and
draw graphs on the board or provide blank overhead transparencies for the
students to use when presenting. Be sure to ask for analysis.

Utilize the Presentation Pro CD-ROM, with animated graphs, to introduce
content.



Connect economics to daily life.
Analyze and create graphic representations of economic occurrences.
Analyze political cartoons in relation to a historical context.

Guided Practice / Multiple activities to choose from

When reading chapters, use any one of the following strategies according
to your professional judgment: Interactive Reading Strategies.

Guide student reading of the chapter by using support transparencies to
graphically organize their learning.

Support student analysis of graphic information by asking questions such as:
What is the purpose of the graph and what is its message? Who might this
information be helpful for? How do the variables interact with one another? When
students probe for answers, think in terms of graphical analysis: Can you draw it?
Can you see your question in a graph?

EconEdLink Lesson: U.S. farmers and the Cuban embargo. This lesson
explores trade barriers in general and why some U.S. farmers want one
specific trade barrier, the Cuban embargo, completely eliminated.
http://www.econedlink.org/lessons/index.php?lesson=EM529&page=teacher

EconEdLink Lesson: Marketplace: Let's Go Euro! With the start of the new year
in 2002, the 12 members of the European Union launched a single currency across
their borders, replacing individual country currencies and singling out the Euro as their
one shared monetary denomination. Marketplace, a daily economics news program
SAISD © 2008-09 – Second Grading Period
Economics














Connect economics to daily life.
Analyze and create graphic representations of economic occurrences.
Analyze political cartoons in relation to a historical context.
Compare the resources of the United States with those of other nations.
Analyze the locations of resources and evaluate the significance of these locations.
Explain the concepts of absolute and comparative advantage and apply the concept
of comparative advantage to explain why and how countries trade.
Analyze the impact of US imports and exports on the United States and its trading
partners.
Describe the effects of trade on employment.
Define various types of trade barriers.
Compare the effects of free trade and trade barriers on economic activities.
Understand arguments in favor of protectionism.
Evaluate the benefits and costs of participation in international trade agreements.
Explain the role of multinationals in the global market.
Analyze how changes in exchange rates of world currencies affect international
trade.
Page 32 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.



heard on National Public Radio, featured a story on January 2, 2002 about the currency
change of the landmark event. (This lesson should be used as an introduction to this
topic. There is another Economics Minute The Euro Makes its Debut that would be a
good follow-up to this lesson.)
http://www.econedlink.org/lessons/index.php?lesson=EM299&page=teacher


Describe the effect of various exchange rate systems.
Analyze the effects of changes in exchange rates on the balance of trade.


Understand the concepts of trade and specialization.
Apply the concepts of opportunity cost and comparative advantage to a variety of
scenarios.
Create a multimedia presentation on the impact of the global economy on the daily
lives of our community.
Analyze the political and economic implications of imposing bans on items.
Analyze the effects on trade of an exchange rate.
Interpret political cartoons related to economic principles.
Use maps and graphs to gain information about world trade.
EconEdLink Lesson: Why do we need money? Think about EBay! The
students investigate money--its purpose and functions. They complete an
exercise, using the online auction site EBay, to learn why money is critical
to an economy.
http://www.econedlink.org/lessons/index.php?lesson=EM629&page=teacher
EconEdLink Lesson:
Independent Practice

Skills for Life: Distinguishing Fact from Opinion, page 364

Economics Assessment Rubrics folder: Writing Assignment, pages 6-7

Simulations and Data Graphing CD-ROM: use the data graphing tools for
practice creating and interpreting graphs.

Social Studies Skills Tutor CD-ROM: utilize interactive practice for critical
thinking, reading, visual analysis, and communication.

Databank: use the variety of graphs for reinforcement and extension of skills,
pages 532-547.

Unit 7 folder:
o Economic Skills, p. 8, Creating a Multimedia Presentation
o Economic Detective, page 10, Learning to Trade
o Careers in Economics, Exporter, page 11
o Economic Cartoon, page 12
o Math Practice folder, p. 13, Applying Foreign Exchange Rates

Source Articles folder: The History of the Global Economy, Pages 51-53.

Real-life Case Study: NAFTA: Is Free Trade a Good Idea?, page 465.

Case Studies in Free Enterprise folder: Soichhiro Honda, pages 34-35..

Economic Profile: Carla Anderson Hills, page 457.

Economics Simulation: Protectionist Policies, pages 384-385
Vocabulary:
 absolute/comparative advantage
 law of comparative advantage
 export
 import
 trade barrier
 import quota
 tariff
 trade war
 protectionism
 infant industry
 international free trade agreement
SAISD © 2008-09 – Second Grading Period





Resources
Textbook
Prentice Hall, Economics: Principles in Action – Chapter 17
Economics
Page 33 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.







free-trade zone
exchange rate
appreciation/depreciation
foreign exchange market
fixed/flexible exchange-rate system
trade surplus/deficit
balance of trade
Evidence of Learning
Differentiation
Interims/TAKS/Benchmarks
College-Readiness
Anticipated Skills for SAT/ACT/College Board
What do you do for students who need extra
support?

Provide chapter outline notes by using Presentation
Pro CD-ROM to create an outline for the chapter for
them to include in their Interactive notebooks.
What do you do for students who master the learning
quickly?

Investigate the world of financial investments and
report on specific career opportunities.
SAISD © 2008-09 – Second Grading Period
Economics
Page 34 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.
Social Studies – Economics
Lesson 2 – Economic Development and Transition
CURRICULUM GUIDE
Second Grading Period
Essential Questions






Essential Pre-requisite Skills



How is a nation defined as either developed or developing?
How does population growth impact economic development?
What are some obstacles to development?
Where does the money come from to develop countries?
How does a nation move from a centrally planned economy to a free market
economy?
How do political and economic changes impact local and global economies?
Economic development in nations (Grade 6-Grade 11)
Development of a free-market economy (Grade 6-Grade 11)
Effects of political and economic changes within a nation. (Grade 5-Grade 11)
The Teaching Plan
Instructional Model & Teacher Directions
The teacher will…

So students can…
Use the resources found on the Social Studies websiteand the Social Studies
Framework to conduct daily instruction.
Hook:

Students should routinely share articles and insights from their Current Events
notebook.

Daily: Upon entering the classroom, have a short problem or idea to graph
displayed on an overhead projector. Students must prepare their answer and be
ready to share it with the class in about 5-7 minutes. Have students pair up and
draw graphs on the board or provide blank overhead transparencies for the
students to use when presenting. Be sure to ask for analysis.

Utilize the Presentation Pro CD-ROM, with animated graphs, to introduce
content.



Connect economics to daily life.
Analyze and create graphic representations of economic occurrences.
Analyze political cartoons in relation to a historical context.

Guided Practice / Multiple activities to choose from

When reading chapters, use any one of the following strategies according to
your professional judgment: Interactive Reading Strategies.

Guide student reading of the chapter by using support transparencies to
graphically organize their learning.

Support student analysis of graphic information by asking questions such as:
What is the purpose of the graph and what is its message? Who might this
information be helpful for? How do the variables interact with one another? When
students probe for answers, think in terms of graphical analysis: Can you draw it?
Can you see your question in a graph?

EconEdLink Lesson: Closing the Gap. The students learn what GDP. They learn
different measures of GDP as well as how GDP per capita can be used to
compare countries. They calculate GDP per capita and learn how poorer
countries can converge, or close the gap, with richer countries.
http://www.econedlink.org/lessons/index.php?lesson=EM602&page=teacher
SAISD © 2008-09 – Second Grading Period
Economics













Connect economics to daily life.
Analyze and create graphic representations of economic occurrences.
Analyze political cartoons in relation to a historical context.
Understand what is meant by developed nations and less developed countries.
Identify the tools used to measure development.
Summarize an economic model.
Identify the causes and effects of rapid population growth.
Describe the effects of the unequal distribution of the factors of production.
Understand the importance of human capital to development.
Analyze how political factors and debt are obstacles to development.
Understand the role investment plays in development.
Identify the purposes of foreign aid.
Describe the function of various economic institutions.
Page 35 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.



EconEdLink Lesson: A Case Study: Gross Domestic Product, February 28, 2008. This Case
Study focuses on the February 28, 2008, preliminary report on Real Gross Domestic
Product (Real GDP), produced by the U.S. Bureau of Economic Analysis (BEA). The current
data and historical data are explained. The meaning of GDP and potential impacts of
changes of GDP are explored. This Case Study will also raise question about the potential
for a recession in the United States in 2008.
Identify important steps in moving from a centrally planned economy toward a
free market economy.
http://www.econedlink.org/lessons/index.php?lesson=EM756&page=teacher
EconEdLink Lesson: Wages and Me. Students explore the reasons for differences
in the wages for several occupations. Then students are guided through the Bureau of
Labor Statistics website to find information about their potential careers and wage rates
nationally and in their own states.
http://www.econedlink.org/lessons/index.php?lesson=EM305&page=teacher
Independent Practice

Skills for Life: Using the Writing Process, page 484.

Economics Assessment Rubrics folder: Writing Assignment, pages 6-7

Simulations and Data Graphing CD-ROM: use the data graphing tools for
practice creating and interpreting graphs.

Social Studies Skills Tutor CD-ROM: utilize interactive practice for critical
thinking, reading, visual analysis, and communication.

Databank: use the variety of graphs for reinforcement and extension of skills,
pages 546-547.

Unit 7 folder:
o Economic Detective, South Gamara, page 23
o Careers in Economics, Regional Planner, page 24
o Economic Cartoon, page 25

Source Articles folder: Moscow Diary, pages 54-56

Real-life Case Study: The World Bank and Economic Assistance, page 495

Case Studies in Free Enterprise folder: George Soros, pages 36-37.

Economic Profile: W. Arthur Lewis, page 477.

Debating Current Issues: A Strong Dollar, pages 498-499.

Math Practice folder: Determining Economic Growth, page 4.
Vocabulary:

development

developed nation

less developed country

per capita gross domestic product (per capita GDP)

industrialization

subsistence agriculture

literacy rate

life expectancy

infant mortality rate

infrastructure

population growth rate

internal financing
SAISD © 2008-09 – Second Grading Period







Interpret political cartoons related to economic principles.
Identify factors used to measure a nation’s development.
Understand the concepts of scarcity and development.
Explain how increased physical and human capital can remedy poverty.
Examine the writing process as it might be used to plan a biographical essay.
Apply economic principles in case studies.
Use information in graphs to write an essay.
Resources
Textbook
Prentice Hall, Economics: Principles in Action – Chapter 18
Media Resources
AIMS Digital Curriculum
See campus librarian for additional print and non-print resources.
Economics
Page 36 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.








foreign investment
foreign direct investment (FDI)
foreign portfolio investment
debt rescheduling
stabilization program
World Bank
United Nations Development Program
International Monetary Fund
Evidence of Learning
Differentiation
Interims/TAKS/Benchmarks
College-Readiness
Anticipated Skills for SAT/ACT/College Board
What do you do for students who need extra
support?

Provide chapter outline notes by using Presentation
Pro CD-ROM to create an outline for the chapter for
them to include in their Interactive notebooks.
What do you do for students who master the learning
quickly?

Investigate the world of financial investments and
report on specific career opportunities.
SAISD © 2008-09 – Second Grading Period
Economics
Page 37 of 37
Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required
assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.