Download Scope and Sequence 2009-2010 Texarkana Independent School

Scope and Sequence
2009-2010
TEXARKANA INDEPENDENT SCHOOL DISTRICT
I = Introduced
P = Practiced
M= Mastered
118.2 Economics with Emphasis on the Free Enterprise System
and Its Benefits, (One-Half Credit). High School
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(c.1) The student understands the rights and responsibilities of
consumers in the U.S. free enterprise system. The student is
expected to:
(A) Analyze the economic rights and responsibilities of individuals
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as consumers
(B) Analyze the consequences of an economic decision made by an
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individual consumer
(c.2) The student understands the rights and responsibilities of
businesses in the U.S. free enterprise system. The student is
expected to:
(A) Analyze the economic rights and responsibilities of businesses
Such as: illegal workers, sweat shops, defective product, recall
procedures and tobacco industry cover-up
(B) Analyze the consequences of an economic decision made by a
business
(C) Analyze the ethics policy of a selected business
Such as: accounting practices and illegal workers
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Grading Period
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(D) Identify and evaluate ordinances and regulations that apply to
the establishment of various types of businesses
Such as: zoning laws, anti-trust legislation, smoking ordinance
and noise ordinance
(c.3) The student understands the right to own, use, and dispose
of private property. The student is expected to:
(A) Analyze an example of the responsible purchase, use, or
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disposal of personal and business property
(B) Identify and evaluate examples of restrictions that the
government places on the use of business and individual
property
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Such as: zoning laws, ordinances against pornography,
smoking and alcohol
(c.4)The student understands the basic principles of the U.S.
free enterprise system. The student is expected to:
(A) Explain the basic principles of the U.S. free enterprise system
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including profit motive, voluntary exchange, private property
rights, and competition
•Relationship between competition (the “invisible hand”) and
profit incentive
•Conditions necessary for pure competition
(B) 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
Identify contributions of entrepreneurs past and present, Mary
K Ash, Bill Gates, Truman Arnold
(c.5)The student understands the concepts of scarcity and
opportunity costs. The student is expected to:
(A) Explain why scarcity and choice are basic problems of
economics
(B) Interpret a production-possibilities curve and explain the
concepts of opportunity costs and scarcity
•How a production possibilities curve helps determine which
goods are produced
•How opportunity costs and production possibilities are used to
make economic decisions, including examples of trade-offs
(c.6)The student understands the circular-flow model of the
economy. The student is expected to:
(A) Interpret a circular-flow model of the economy and provide
real-world examples to illustrate elements of the model
(B) Explain how government actions affect the circular-flow model
(c.7)The student understands the interaction of supply, demand,
and price. The student is expected to:
(A) Identify the determinants that create changes in supply,
demand, and price
•The law of demand, including exceptions
•Demand elasticity
•The law of supply, including exceptions
•Supply elasticity
•The law of diminishing marginal utility
•Aggregate supply
•Aggregate Demand
(B) Interpret a supply-and-demand graph using supply-and-demand
schedules
•Supply and demand curves, given appropriate data
•Causes and effects of shifts in supply and demand curves
(c.8)The student understands the role of financial institutions in
saving, investing, and borrowing. The student is expected to:
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(A) Explain the functions of financial institutions and how the role
of financial institutions has changed over time
•How the Federal Reserve regulates financial institutions
•Differentiate among commercial banks, savings and loans,
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credit unions, finance companies, and consumer finance
companies
•The creation and role of the FDIC
(B) Analyze how financial institutions affect households and
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businesses
(c.9)The student understands types of business ownership and
types of market structures. The student is expected to:
(A) Explain the characteristics of sole proprietorships, partnerships,
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and corporations
(B) Analyze the advantages and disadvantages of sole
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proprietorships, partnerships, and corporations
(C) Describe characteristics and give examples of pure competition,
monopolistic competition, oligopoly, and monopoly
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•Four types of monopolies and gives examples of each:
geographic, technological, governmental, and natural
(c.10)The student understands traditional, command, and
market economic systems. The student is expected to:
(A) Explain the characteristics and give examples of traditional,
command, and market economic systems
•The societal values that influence traditional, command, and
market economies
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•How prices and products are determined in different types of
markets
(B) Compare the U.S. free enterprise system with other economic
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systems
(c.11) The student understands the basic concepts of consumer
economics. The student is expected to:
(A) Analyze the factors involved in the process of acquiring
consumer goods and services including credit, interest, and
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insurance
(B) Compare different means by which savings can be invested and
the risks and rewards each poses to the consumer
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Such as: demand deposits, time deposits, commodities, stocks
and bonds, and mutual funds
(C) Analyze the economic impact of investing in the stock and
bond markets
Such as: stock market crash of 1929, junk bonds and ENRON
(c.12)The student understands the geographic significance of
the economic factors of production. The student is expected
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to:
(A) Describe the effects of the unequal distribution of economic
factors of production
•Land – distribution of natural resources
•Labor - the factors in the labor market that affect wages (e.g.,
skills, location, type of job), including the effects of the
unequal distribution of available jobs
•Capital
(B) Analyze the locations of resources used in the production of an
economic good and evaluate the significance of the locations
•The locations of resources used in the production of an
economic good and evaluates the significance of the locations
•Types of jobs included in major job categories: blue-collar,
white-collar, and service; or unskilled, semiskilled, and
professional
(c.13) The student understands the reasons for international
trade and its importance to the United States. The student is
expected to:
(A) Explain the concepts of absolute and comparative advantages
(B) Apply the concept of comparative advantage to explain why
and how countries trade
(C) Analyze the impact of U.S. imports and exports on the United
States and its trading partners
•How foreign trade works
•Ways nations limit trade, including tariffs, revenue tariffs,
protective tariffs, import quotas, and embargoes
•Causes and the long-range effects of trade restrictions
•The difference between a positive and a negative balance of
payments
(D) Analyze changes in exchange rates of world currencies and the
effects on the balance of trade
(c.14)The student understands the issues of free trade and the
effects of trade barriers. The student is expected to:
(A) Compare the effects of free trade and trade barriers on
economic activities
•The effects of current international trade agreements (orally or
in writing)
•The difference between a positive and a negative balance of
payments
(B) Evaluate the benefits and costs of participation in international
free-trade agreements
Such as: NAFTA, the European Union, UN Oil for Food
Program, the movement of the economy to service industries
(c.15)The student understands the role that the government
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plays in the U.S. free enterprise system. The student is
expected to:
(A) Describe the role of government in the U.S. free enterprise
system
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•The purpose of usury laws (i.e. government regulatory
legislation and laissez-faire
(B) Evaluate government rules and regulations in the U.S. free
enterprise system
(c.16)The student understands the goals of economic growth,
stability, full employment, freedom, security, equity, and
efficiency as they apply to U.S. economic policy. The student
is expected to:
(A) Describe the goals of U.S. economic policy
(B) Analyze how economic growth, stability, and full employment
are measured
•The stages of production: increasing, diminishing, and
negative returns
•How national income is determined: by measuring the amount
earned by businesses and individuals or by measuring the value
of goods and services produced
•The effects of inflation and deflation on real income
•The factors that influence national income (e.g., efforts of
workers, level of employment, quality and quantity of fixed
capital), including the impact of societal values on economic
development
•Three measures of inflation: consumer price index, producer
price index, and the implicit GNP deflator
•Demand-pull inflation and cost-push inflation
•How the federal deficit is measured
(c.17)The student understands the economic impact of fiscal
policy decisions at the local, state, and national levels. The
student is expected to:
(A) Identify types of taxes at the local, state, and national levels
and the economic importance of each
•Goals of various tax systems (e.g., fairness, ease of operation,
clarity, sufficient revenue) (orally or in writing)
•Three forms of taxation: proportional, progressive, and
regressive
•Taxes affect allocation of resources and productivity
•Major sources of federal revenue: Social Security, income,
corporate, excise, estate, and gift taxes and customs duties
•Sources of state and local revenue: sales, property, in
heritance, excise, estate, and income taxes
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•Major spending areas of the U.S. government (e.g., national
defense, Social Security payments, interest on the deficit)
•The allocation of tax revenues by state governments (e.g.,
property taxes used to fund schools)
(B) Analyze the categories of revenues and expenditures in the
U.S. federal budget
•The importance of a balanced governmental budget (orally or
in writing)
•The government provides for the public well-being through
income redistribution: public assistance (e.g., Supplemental
Security Income) and social insurance (e.g., Social Security)
•Major spending areas of the U.S. government (e.g., national
defense, Social Security payments, interest on the deficit)
(C) Analyze the impact of fiscal policy decisions on the economy
•How the goals of a nation affect the type of economic system
that develops within that nation, using real-world examples
•The impact of fiscal policy decisions on the local, state, and
national economies
(c.18)The student understands the role of the Federal Reserve
System in establishing monetary policy. The student is
expected to:
(A) Explain the structure of the Federal Reserve System
•Types of money used in the U.S.: currency, checks, and near
monies (e.g., savings account balances, time deposits,
annuities)
•Tight and loose money policies and analyzes the impact of
each on the economy
•Organization and function of the Federal Reserve System (the
Fed)
(B) Analyze the three basic tools used to implement U.S. monetary
policy
•Monetary policy (inducing changes in the money supply and
interest rates for the purpose of stimulating the economy during
recession and or to restrain economic activity during periods of
inflation)
•Fiscal policy (influencing the economy through taxation and
government expenditures)
•Incomes policy (influencing the economy through wage and
price guidelines)
•The impact of the methods that the Fed uses to implement
monetary policy and control the U.S. money supply: changing
reserve requirements, issuing paper currency and coins, buying
or selling government securities (open-market operations), and
changing the rate of interest that member banks are required to
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pay for loans (short-term commercial paper)
(c.19)The student understands economic ideas and decisions
from the past that have influenced the present and those of
today that will affect the future. The student is expected to:
(A) 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
(B) Trace the history of the labor movement in the United States
•The appeal of labor unions to workers during the 19th century
•The significance of key events in the history of the labor
movement, including the formation of the Knights of Labor
(1869) and the American Federation of Labor (AFL) (1886),
the Haymarket riots (1886) and the Pullman strike (1894), the
National Labor Relations (Wagner) Act (1935), the formation
of the Congress of Industrial Organizations (CIO) (1938), the
Taft-Hartley Act (1947), and the air traffic controllers’ strike
(1981)
•The types of union shops: closed, open; the declining
importance of unionized labor
•The relative importance of major issues generally considered
during collective bargaining: wages, fringe benefits, working
conditions, working hours, job security, and grievance
procedures (orally or in writing)
•The process of collective bargaining (e.g., negotiation,
mediation, arbitration)
•Right to work vs. closed nion shops
•Appreciates the importance of compromise when resolving
union–management disputes
•How unions use picketing and boycotts as part of their strategy
during strikes
•Ways that management may respond to a strike, in including
lockouts, strike breakers, and injunctions
(C) Analyze the impact of business cycles on U.S. history
•The causes of business cycles and gives examples
•The phases of a business cycle: expansion, peak (prosperity),
contraction, and trough
•Differentiate between a recession and a depression
(D) Identify the contributions of entrepreneurs, past and present,
such as Mary Kay Ash, Andrew Carnegie, and Bill Gates
Michael Dell and Steve Jobs.
•Define entrepreneur and give examples of the contributions of
contemporary entrepreneurs (e.g., Mary Kay Ash; Berry Gordy,
Jr.; Bill Gates; Dave Thomas; Ted Turner; Sam Walton; Les
Wexner, Ray Croch)
(c.20)The student understands economic concepts embodied in
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historical documents including the U.S. Constitution. The
student is expected to:
(A) Identify economic concepts in the U.S. Constitution including
property rights and taxation
(B) Analyze the impact of economic concepts in the U.S.
Constitution on contemporary issues and policies
•The causes and effects of the collapse and subsequent federal
bail-out of savings and loans in 1989–1990
•The roles of antitrust legislation and regulatory agencies
•The results of Ronald W. Reagan’s supply-side economic
program
(c.21)The student understands how societal values affect a
nation's economy. The student is expected to:
(A) Analyze the societal values that determine how a country
answers the basic economic questions
•Answer the basic questions faced by every economic system:
What goods and services will be produced? How will they be
produced? Who will produce them? For whom will they be
produced?
(B) Describe the societal values that influence traditional,
command, and market economies
•Traditional
•Command
•Market
(c.22)The student understands the impact of a nation's culture
on its level of economic development. The student is expected
to:
(A) Describe the level of economic development of selected
nations
(B) Analyze how societal values affect the economic development
of nations
(c.23)The student applies critical-thinking skills to organize and
use information acquired from a variety of sources
including electronic technology. The student is expected to:
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(A) Analyze information by sequencing, categorizing, identifying
cause-and-effect relationships, comparing, contrasting, finding
the main idea, summarizing, making generalizations and
predictions, and drawing inferences and conclusions
•The four types of unemployment: cyclical, frictional,
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seasonal, and structural
•The characteristics of developing nations: low per capita GNP,
traditional (agricultural) economic system, limited technology,
a growing population, poor health conditions, and a low
literacy rate
(B) Create economic models such as production-possibilities
curves, circular-flow charts, and supply-and-demand graphs to
analyze economic data
•Measures of cost: fixed, variable , total, marginal, and
average
•Difference between total revenue and marginal revenue
•How to determine maximum profits
•The importance of the break-even point
•Variables that create shifts in supply and demand
•The importance of the equilibrium price
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•How differences in elasticity affect the rate at which prices
change
•Differences between gross income, net income, and profit
•Explains how the law of diminishing returns affects business
decisions
•Create an economic model to illustrate the application of the
theories of Thomas Malthus to the problems of developing
nations
•Creates economic models to analyze economic data (e.g.,
production possibilities curves, circular-flow charts, supply and
demand graphs
(C) Create a product on a contemporary economic issue or topic
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using critical methods of inquiry
(D) Explain a point of view on an economic issue
•Compare and contrast capitalist and socialist economies
•The economy of one of the independent nations that emerged
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from the breakup of the U.S.S.R. in 1991
•The pros and cons of multi-national corporations from various
points of view (e.g., stockholders, the U.S. government)
(E) Analyze and evaluate the validity of information from primary
and secondary sources for bias, propaganda, point of view, and
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frame of reference
•The sources of investment capital for developing nations (e.g.,
domestic earnings and savings, foreign aid, foreign investment)
(F) Evaluate economic-activity patterns using charts, tables,
graphs, and maps
(G) Use appropriate mathematical skills to interpret social studies
information
(c.24)The student communicates in written, oral, and visual
forms. The student is expected to:
(A) Use social studies terminology correctly
(B) Use standard grammar, spelling, sentence structure, and
punctuation
(C) Transfer information from one medium to another including
written to visual and statistical to written or visual using
computer software as appropriate
(D) Create written, oral, and visual presentations of social studies
information
(c.25)The student uses problem-solving and decision-making
skills, working independently and with others, in a variety
of settings. The student is expected to:
(A) 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
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•The advantages and disadvantages of geographic,
occupational, and resource specialization
(B) 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
•The purpose of market research
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•The changing role of marketing in the U.S. in the 20th century
•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
(c.26)The student understands the effects of science and
technology on an economy. The student is expected to:
(A) Analyze the effect of technology on productivity
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Such as: assembly lines, automation, computers and Internet
(B) Analyze the economic effects of the development of
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communication and transportation systems in the United States
(C) Analyze the economic impact of obsolescence created by
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technological innovations
(D) Analyze how technological innovations change the way goods
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are manufactured, marketed, and distributed
(c.27)The student understands the economic effects of scientific
discoveries and technological innovations on households,
businesses, and government. The student is expected to:
(A) Give examples of types of economic information available as a
result of technological innovations
Such as: computer trading of stocks and bonds, online
banking, loans and purchasing
(B) Explain how scientific discoveries and technological
innovations create the need for rules and regulations to protect
individuals and businesses
Such as: privacy, taxation, alcohol, pornography and
pharmaceutical sales
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