Download Economics

What Are The Texas Essential Knowledge and Skills (TEKS)?
Economics
with Emphasis on the Free Enterprise System
and Its Benefits
SAISD Social Studies Department
406 Barrera Street • San Antonio, Texas • 78210
®SAISD Social Studies Department
Page 1
Reproduction rights granted only if copyright information remains intact.
What Are The Texas Essential Knowledge and Skills (TEKS)?
What Are The TEKS?
The Texas Essential Knowledge and Skills (or TEKS for short) is a list of what you need to know
and what you should be able to do by the time you finish a course in any subject area. If you
went to any school in the state of Texas since Kindergarten, your teachers were provided
with the TEKS for what they were teaching.
Why Are They Important?
It is important to know what the TEKS are so you know what is expected of you during the
year. Also, since you are going to be assessed by a state exam (STAAR) this year, the TEKS let
you know what information might be on the test.
Where Can I Find Them?
The TEKS are posted on the Texas Education Agency’s website found at http://
ritter.tea.state.tx.us/rules/tac/chapter113. You can also search for them on the internet by
using “U.S. History Since 1877 TEKS” as your keywords.
How Do I Read Them?
At first glance, the TEKS for any subject look like an outline for a research paper.
(3) History. The student understands the political, economic, and social changes in the
United States from 1877 to 1898. The student is expected to:
(A) analyze political issues such as Indian policies, the growth of political
machines, civil service reform, and the beginnings of Populism;
(B) analyze economic issues such as industrialization, the growth of railroads, the
growth of labor unions, farm issues, the cattle industry boom, the rise of
entrepreneurship, free enterprise, and the pros and cons of big business;
(C) analyze social issues affecting women, minorities, children, immigrants,
urbanization, the Social Gospel, and philanthropy of industrialists; and
(D) describe the optimism of the many immigrants who sought a better life in
America.
How the TEKS look online
They appear like that because they are part of the Texas Education Code (TEC) and the
Texas Administrative Code (TAC). In other words, they are part of state law.
®SAISD Social Studies Department
Page 2
Reproduction rights granted only if copyright information remains intact.
What Are The Texas Essential Knowledge and Skills (TEKS)?
What Am I Looking At?
When you look at the TEKS, they seem complicated at first. However, when you first look at
anything new, you tend to look at different pieces before understanding the big picture. For
example, when you are shown a picture, most will look at the different details before
determining whether or not you like the picture as a whole. Understanding the TEKS and what
you need to know by the end of the year is like the same thing.
What Are The Parts Of The TEKS?
Whether you are in science, social studies, math, language arts, band, or physical
education, there are TEKS that outline what is to be taught. No matter which subject area, all
TEKS have four basic parts.
Part 1: The Strand
The strand is a group of TEKS that have a common theme or concept that they share.
In social studies, there are eight different strands that the TEKS are classified by:
1. History - The people, places, and events
2. Geography - How people affect the planet, how people affect people, and how
the planet affects people
3. Economics - How people/governments create/lose wealth
4. Government - How different types of governments are created, how they operate,
and how they change over time
5. Citizenship - How people in different societies participate in government
6. Culture - How different societies live and interact with other societies
7. Science, Technology and Society - How advancements in technology, science,
and medicine affect societies
8. Social Studies Skills - How to develop research, reading, thinking, writing, and
communication skills
Part 2: The Knowledge Statement
The knowledge statement is always the sentence that follows a number in the TEKS. The
knowledge statement gives you the big idea or concept that has to be understood.
Part 3: The Student Expectation
The student expectation is the part of the TEKS that always follow a letter in the TEKS.
The student expectation tells you exactly what you need to know as it relates to the
knowledge statement.
More importantly, student expectations are not just lists of stuff you have to memorize
and repeat back. They tell you how much you have to understand something and
how you are going to show how well you know it.
®SAISD Social Studies Department
Page 3
Reproduction rights granted only if copyright information remains intact.
What Are The Texas Essential Knowledge and Skills (TEKS)?
So What Do I Do?
The important thing to remember when looking at the TEKS is understanding exactly what
you need to know and how you can explain it back to someone else. Before going any
further, lets take some time to break down a few of the TEKS for U.S. History for practice.
Strand
Knowledge Statement
(3) History. The student understands the political, economic, and
social changes in the United States from 1877 to 1898. The
student is expected to:
(A) analyze political issues such as Indian policies, the
growth of political machines, civil service reform, and the
beginnings of Populism;
Student
Expectations
(B) analyze economic issues such as industrialization, the
growth of railroads, the growth of labor unions, farm issues,
the cattle industry boom, the rise of entrepreneurship, free
enterprise, and the pros and cons of big business;
(C) analyze social issues affecting women, minorities,
children, immigrants, urbanization, the Social Gospel, and
philanthropy of industrialists; and
(D) describe the optimism of the many immigrants who
sought a better life in America.
So, in our example above, the student expectations (A-D) belong in the HISTORY strand.
Therefore, we know that the student expectations have to do with people, places, and
events from the past. Also, we read the stem and we then find out that the student
expectations (A-D) have something to do with the political, economic, and social changes
in the United States during the years 1877-1898. Finally, we read the student expectations to
find out what specific things we need to find out about and at what level do we need to
understand them.
®SAISD Social Studies Department
Page 4
Reproduction rights granted only if copyright information remains intact.
What Are The Texas Essential Knowledge and Skills (TEKS)?
(3) History. The student understands the political, economic, and social changes in the
United States from 1877 to 1898. The student is expected to:
(A) analyze political issues such as Indian policies, the growth of political
machines, civil service reform, and the beginnings of Populism;
(B) analyze economic issues such as industrialization, the growth of railroads, the
growth of labor unions, farm issues, the cattle industry boom, the rise of
entrepreneurship, free enterprise, and the pros and cons of big business;
(C) analyze social issues affecting women, minorities, children, immigrants,
urbanization, the Social Gospel, and philanthropy of industrialists; and
(D) describe the optimism of the many immigrants who sought a better life in
America.
To take a deeper look, let’s take one student expectation and make a sentence out of it:
(3) (A) The student is expected to analyze political issues such as
Indian policies, the growth of political machines, civil service
reform, and the beginnings of Populism.
Now, break down the sentence into pieces:
• Students are expected to analyze the political issue of Indian Policies.
• Students are expected to analyze the political issue of the growth of political
machines.
• Students are expected to analyze the political issue of civil service reform.
• Students are expected to analyze the political issue of the beginnings of Populism.
Keep in mind that the four items listed above are things that were going on from 1877-1898.
(We know this from the Stem portion)
Notice that the word analyze is underlined in each of the sentences above. Another
important feature of the student expectations is the verb. All student expectations have
verbs and the state uses different verbs throughout the TEKS. The verbs are clues to how
much you know about a certain topic.
Sometimes, the state expects you to identify (recall) something. Other times, the state wants
you to analyze (examine what something means and understand why something is
important) people, places, and events. Therefore, it is important to look at the entire
sentence to find out not only the what you need to know but also the skills you need to show.
®SAISD Social Studies Department
Page 5
Reproduction rights granted only if copyright information remains intact.
What Are The Texas Essential Knowledge and Skills (TEKS)?
Returning to Breaking It Down
Now we have examined one single student expectation, lets go back to it one more time to
string together what we need to do.
The student is expected to analyze political issues such as Indian
policies, the growth of political machines, civil service reform,
and the beginnings of Populism.
Now that we have defined what we have to know, we have to investigate political issues
during the years between 1877 and 1898 and:
• Define political machines, Indian policies, growth of political machines, civil service
reform, and the beginnings of Populism.
• Explain how political machines, Indian policies, growth of political machines, civil
service reform, and the beginnings of Populism were political issues during 1877
through 1898.
• Analyze how political machines, Indian policies, growth of political machines, civil
service reform, and the beginnings of Populism affected people and events politically
during 1877 through 1898.
We have just examined one student expectation out of the 130 student expectations in U.S.
History Since 1877.
Putting All The Pieces Together:
If you examine the chart on Page 10, you will see the people, places, events and concepts
that are covered in your TEKS. It seems overwhelming in the beginning to look at all of the
student expectations and trying to figure out how all of this information will stay in your
memory. However, when examining the student expectations, you will begin to notice
patterns of how things are connected together!
®SAISD Social Studies Department
Page 6
Reproduction rights granted only if copyright information remains intact.
What Are The Texas Essential Knowledge and Skills (TEKS)?
The TEKS is not only about people, places, and events from the past. The TEKS are also about
developing your skills to think as a historian, economist, geographer, and political scientist.
The Social Studies Skills are a series of student expectations that are listed at the end of every
subject and grade level since Kindergarten. The reason they exist is because we want you to
develop and use your critical- thinking skills. You should also be able to use a variety of
primary and secondary source material to explain and apply different methods that
historians use to understand and interpret the past, including multiple points of view and
historical context.
Basically, the state and your teachers want you to become a researcher and reporter of the
past and present. The way to accomplish this is to use a variety of rich primary and
secondary source material such as biographies, autobiographies, landmark cases of the U.S.
Supreme Court, novels, speeches, letters, diaries, poetry, songs, and artworks during the year.
When it comes to assessing your skills on STAAR, in the 8th and 11th grades, it is expected
that you can analyze a visual and draw a historical conclusion based on that visual. Look at
the examples below to find out how visuals can make a question more difficult:
Example 1
President Franklin D. Roosevelt’s goal concerning the Supreme Court was to
A) increase ethnic and racial diversity
B) insure support for New Deal legislation
C) appoint justices who would use a strict interpretation of the Constitution
D) strengthen judicial independence
Base your answer to question 32 on the cartoon
below and on your knowledge of social studies.
Example 2
QUALIFYING TEST FOR
SUPREME COURT JOBS
Base your answer to question 34 on the cartoon
below and on your knowledge of social studies.
According
to the opinion of the cartoonist Stretched Around the World
A) President Roosevelt was looking to
increase his power over the Supreme
Court.
B) the Supreme Court at that time needed
to go along with the New Deal policies.
C) the Supreme Court was not following the
Constitution.
D) President Roosevelt was agreeing with
the justices of the Supreme Court.
Source: Edward S. Brown, New York Herald Tribune,
February 12, 1937 (adapted)
Source: Fred O. Seibel, Richmond Times Dispatch,
October 29, 1942 (adapted)
34 Which statement most accurately expresses the
32 Based on this cartoon, President Franklin D.
During your studies,
you will be shown how to analyze
visuals,
and other types of
main idea
of this 1942speeches,
cartoon?
Roosevelt’s goal concerning the Supreme Court
(1) Allied
goalsyour
in Worldskills!
War II will affect every
documents so youwascan
explain what they mean by
using
to
nation.
(1) increase ethnic and racial diversity
(2) The Atlantic Charter will help only Europe
(2) insure support for New Deal legislation
and Asia.
(3) appoint justices who would use a strict
(3) The United States intends to rule the entire
®SAISD Social Studies Department
interpretation of the Constitution
world.
(4) strengthen judicial
independence
Reproduction
rights granted only if copyright
remains intact.
(4)information
American strategy
will be to win the war in
the Pacific first.
33 What was the major purpose of the Lend-Lease
Page 7
What Are The Texas Essential Knowledge and Skills (TEKS)?
The chart below and on the next page show you the verbs used in the TEKS for social studies.
When you are looking at a student expectation and are not sure how much of something
you need to know, refer to this list.
Word
Dictionary Definition(s)
Acquire
to gain for oneself through one's actions or efforts: to acquire learning.
Analyze
to examine carefully and in detail so as to identify causes, key factors, possible results,
etc.
Aspect
part or a piece
Bias
Categorizing
Cause and
Effect
prejudice in favor of or against one thing, person, or group compared with another,
usually in a way considered to be unfair.
to arrange in categories or classes; classify
to understand why events happen and what happens because of events
Comparing and
Contrasting
to examine (two or more objects, ideas, people, etc.) in order to note similarities and
differences
Consequences
a result or effect of an action or condition
Corroboration
evidence that confirms or supports a statement, theory, or finding; confirmation
Decision-Making
Drawing
Conclusions
the process of examining a situation, weighing the options, and making a choice
to frame or formulate a conclusion based on information presented
to examine the evidence and come to a final idea/picture
Drawing
Inferences
to examine evidence carefully and then judge or draw a conclusion based on the
evidence
Frame of
Reference
making judgements in relation to personal ideals or values
Geographic
Distributions
how things are distributed over space (especially over the surface of the Earth)
Geographic
Patterns
a repetition in distributions over space (especially over the surface of the Earth)
Historical
Context
Historiography
Identify
Implement
Inquiry
Interpret
Main Idea
Making
Generalizations
the political, social, cultural, and economic environment related to historical moments,
events, and trends
the study of historical writing
to recognize or establish as being a particular person or thing
to put into action or to include as part of an action
the act of asking for information
explain the meaning of
what something is about
to make broad statements based on either facts or presented evidence
®SAISD Social Studies Department
Page 8
Reproduction rights granted only if copyright information remains intact.
What Are The Texas Essential Knowledge and Skills (TEKS)?
Word
Dictionary Definition(s)
a particular attitude or way of considering a matter
Point of View
to make statements about future events based on patterns or presented evidence
Predict
Primary Source
an artifact, a document, a recording, or other source of information that was created
at the time under study. It serves as an original source of information about the topic.
Problem-Solving
the process of finding solutions to difficult or complex issues
Secondary
Source
any source about an event, period, or issue in history that was produced after that
event, period or issue has passed.
Sequencing
to place things in chronological order
practice of collecting and analyzing numerical data in large quantities
Statistical
Summarizing
give a brief statement of the main points
Terminology
the body of words used with a particular subject of study (language of the profession)
Thematic Map
type of map or chart especially designed to show a particular theme connected with
a specific geographic area
to be factually sound
Validity
Information adapted from: http://dictionary.reference.com/ and en.wiktionary.org
®SAISD Social Studies Department
Page 9
Reproduction rights granted only if copyright information remains intact.
“Big Picture”- Economics
People
Friedrich Hayek
Milton Friedman
John Maynard Keynes
Adam Smith
Documents
U.S. Constitution
Bill of Rights
Economic Processing
production-possibilities
curve
supply-and-demand
graph supply-anddemand schedules
circular-flow model
unemployment rate
gross domestic product
gross domestic product
per capita
Concepts
Vocabulary
Personal Finance
Economics
Basic Economic Questions
Demand
Supply
free enterprise
free market
capitalism
economic freedom
responsive prices
investment opportunities
the creation of wealth
money
consumerism
costs and benefits
Scarcity
Choice
Factors of Production
production-possibilities curve
opportunity costs
non-price determinants
equilibrium price
absolute advantage
comparative advantage import
export
trade
trade barriers
free trade
free-trade agreements
private property
property rights
incentives
competition
economic growth economic
stability
full employment
economic security
equity (equal opportunity
versus equal outcome)
efficiency
property
pure competition
monopolistic competition
oligopoly
monopoly
ordinances
regulations
inflation
productivity
commodity money
fiat money
representative money
barter
currency
credit cards
debit cards
Federal Reserve System
Taxation
Revenue
Expenditures
Federal Budget
Fiscal Policy
sole proprietorships
partnerships
corporations
stocks
bonds
financial institutions
savings
capital formation
stock market
personal investment
retirement plan
checking account
reconciling
loans
credit score
debt
bankruptcy
insurance
charity
home ownership
Free Application for
Federal Student Aid
(FAFSA)
scholarship
grant
student loan
private loan
federal loan
work-study program
postsecondary education
®SAISD Social Studies Department
Page 10
Reproduction rights granted only if copyright information remains intact.
Economics Texas Essential Knowledge and Skills
(1) Economics with Emphasis on the Free Enterprise System and Its Benefits is the culmination of the
economic content and concepts studied from Kindergarten through required secondary courses. The focus
is on the basic principles concerning production, consumption, and distribution of goods and services (the
problem of scarcity) in the United States and a comparison with those in other countries around the
world. Students analyze the interaction of supply, demand, and price. Students will investigate the
concepts of specialization and international trade, economic growth, key economic measurements, and
monetary and fiscal policy. Students will study the roles of the Federal Reserve System and other financial
institutions, government, and businesses in a free enterprise system. Types of business ownership and
market structures are discussed. The course also incorporates instruction in personal financial literacy.
Students apply critical-thinking skills using economic concepts to evaluate the costs and benefits of
economic issues.
(2) Students identify the role of the U.S. free enterprise system within the parameters of this course and
understand that this system may also be referenced as capitalism or the free market system.
(3) Economics with Emphasis on the Free Enterprise System and Its Benefits builds upon the foundation in
economics and social studies laid by the social studies essential knowledge and skills in KindergartenGrade 12. The course will apply these skills to current economic situations. The content enables students
to understand the importance of patriotism, function in a free enterprise society, and appreciate the basic
democratic values of our state and nation as referenced in the Texas Education Code (TEC), §28.002(h).
(4) Students understand that a constitutional republic is a representative form of government whose
representatives derive their authority from the consent of the governed, serve for an established tenure,
and are sworn to uphold the constitution.
Introduction
(5) As referenced in House Bill 492, an act of the Texas Legislature signed into law in 2005, the concepts
of personal financial literacy are to be mastered by students in order that they may become selfsupporting adults who can make informed decisions relating to personal financial matters. These concepts
are incorporated into the student expectations of Economics with Emphasis on the Free Enterprise System
and Its Benefits: understanding interest, avoiding and eliminating credit card debt; understanding the
rights and responsibilities of renting or buying a home; managing money to make the transition from
renting a home to home ownership; starting a small business; being a prudent investor in the stock
market and using other investment options; beginning a savings program and planning for retirement;
bankruptcy; types of bank accounts available to consumers and benefits of maintaining a bank account;
balancing a checkbook; types of loans available to consumers and becoming a low-risk borrower;
understanding insurance; and charitable giving.
(6) State and federal laws mandate a variety of celebrations and observances, including Celebrate
Freedom Week.
(A) Each social studies class shall include, during Celebrate Freedom Week as provided under the TEC,
§29.907, or during another full school week as determined by the board of trustees of a school district,
appropriate instruction concerning the intent, meaning, and importance of the Declaration of
Independence and the U.S. Constitution, including the Bill of Rights, in their historical contexts. The study
of the Declaration of Independence must include the study of the relationship of the ideas expressed in
that document to subsequent American history, including the relationship of its ideas to the rich diversity
of our people as a nation of immigrants, the American Revolution, the formulation of the U.S.
Constitution, and the abolitionist movement, which led to the Emancipation Proclamation and the
women's suffrage movement.
(B) Each school district shall require that, during Celebrate Freedom Week or other week of instruction
prescribed under subparagraph (A) of this paragraph, students in Grades 3-12 study and recite the
following text: "We hold these Truths to be self-evident, that all Men are created equal, that they are
endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the
Pursuit of Happiness--That to secure these Rights, Governments are instituted among Men, deriving their
just Powers from the Consent of the Governed."
(7) Students identify and discuss how the actions of U.S. citizens and the local, state, and federal
governments have either met or failed to meet the ideals espoused in the founding documents.
®SAISD Social Studies Department
Page 11
Reproduction rights granted only if copyright information remains intact.
TEKS
ECO.1A
ECO.1B
ECO.1C
ECO.1D
ECO.2A
ECO.2B
ECO.2C
ECO.3A
ECO.3B
ECO.3C
ECO.4A
ECO.4B
ECO.4C
Economics
ECO.5A
ECO.5B
ECO.5C
ECO.5D
ECO.5E
ECO.6A
ECO.6B
ECO.6C
ECO.6D
ECO.7A
ECO.7B
ECO.8A
ECO.8B
ECO.8C
ECO.9A
ECO.9B
Description
The student understands the concepts of scarcity and opportunity costs. The student is expected to explain why
scarcity and choice are basic economic problems faced by every society.
The student understands the concepts of scarcity and opportunity costs. The student is expected to describe how
societies answer the basic economic questions.
The student understands the concepts of scarcity and opportunity costs. The student is expected to describe the
economic factors of production.
The student understands the concepts of scarcity and opportunity costs. The student is expected to interpret a
production-possibilities curve and explain the concepts of opportunity costs and scarcity.
The student understands the interaction of supply, demand, and price. The student is expected to understand the
effect of changes in price on the quantity demanded and quantity supplied.
The student understands the interaction of supply, demand, and price. The student is expected to identify the nonprice determinants that create changes in supply and demand, which result in a new equilibrium price.
The student understands the interaction of supply, demand, and price. The student is expected to interpret a supplyand-demand graph using supply-and-demand schedules.
The student understands the reasons for international trade and its importance to the United States and the global
economy. The student is expected to explain the concepts of absolute and comparative advantages.
The student understands the reasons for international trade and its importance to the United States and the global
economy. The student is expected to apply the concept of comparative advantage to explain why and how countries
trade.
The student understands the reasons for international trade and its importance to the United States and the global
economy. The student is expected to analyze the impact of U.S. imports and exports on the United States and its
trading partners.
The student understands the issues of free trade and the effects of trade barriers. The student is expected to
compare the effects of free trade and trade barriers on economic activities.
The student understands the issues of free trade and the effects of trade barriers. The student is expected to
evaluate the benefits and costs of participation in international free-trade agreements.
The student understands the issues of free trade and the effects of trade barriers. The student is expected to analyze
the effects of changes in exchange rates on imports and exports.
The student understands free enterprise, socialist, and communist economic systems. The student is expected to
describe the basic characteristics of economic systems, including property rights, incentives, economic freedom,
competition, and the role of government.
The student understands free enterprise, socialist, and communist economic systems. The student is expected to
compare the free enterprise system, socialism, and communism using the basic characteristics of economic systems.
The student understands free enterprise, socialist, and communist economic systems. The student is expected to
examine current examples of free enterprise, socialist, and communist economic systems.
The student understands free enterprise, socialist, and communist economic systems. The student is expected to
understand that the terms free enterprise, free market, and capitalism are synonymous terms to describe the U.S.
economic system.
The student understands free enterprise, socialist, and communist economic systems. The student is expected to
analyze the importance of various economic philosophers, including Friedrich Hayek, Milton Friedman, John Maynard
Keynes, and Adam Smith, and their impact on the U.S. free enterprise system.
The student understands the basic characteristics and benefits of a free enterprise system. The student is expected
to explain the basic characteristics of the U.S. free enterprise system, including private property, incentives,
economic freedom, competition, and the limited role of government.
The student understands the basic characteristics and benefits of a free enterprise system. The student is expected
to explain the benefits of the U.S. free enterprise system, including individual freedom of consumers and producers,
variety of goods, responsive prices, investment opportunities, and the creation of wealth.
The student understands the basic characteristics and benefits of a free enterprise system. The student is expected
to analyze recent changes in the basic characteristics of the U.S. economy.
The student understands the basic characteristics and benefits of a free enterprise system. The student is expected
to analyze the costs and benefits of U.S. economic policies related to the economic goals of economic growth,
stability, full employment, freedom, security, equity (equal opportunity versus equal outcome), and efficiency.
The student understands the right to own, use, and dispose of private property. The student is expected to analyze
the costs and benefits of the purchase, use, or disposal of personal and business property.
The student understands the right to own, use, and dispose of private property. The student is expected to identify
and evaluate examples of restrictions that the government places on the use of business and individual property.
The student understands the circular-flow model of the economy. The student is expected to interpret the roles of
resource owners and firms in a circular-flow model of the economy and provide real-world examples to illustrate
elements of the model.
The student understands the circular-flow model of the economy. The student is expected to explain how government
actions affect the circular-flow model.
The student understands the circular-flow model of the economy. The student is expected to explain how the
circular-flow model is affected by the rest of the world.
The student understands types of market structures. The student is expected to describe characteristics and give
examples of pure competition, monopolistic competition, oligopoly, and monopoly.
The student understands types of market structures. The student is expected to identify and evaluate ordinances and
regulations that apply to the establishment and operation of various types of businesses.
®SAISD Social Studies Department
Page 12
Reproduction rights granted only if copyright information remains intact.
TEKS
ECO.10A
ECO.10B
ECO.11A
ECO.11B
ECO.11C
ECO.12A
ECO.12B
Economics
ECO.12C
ECO.13A
ECO.13B
ECO.13C
ECO.13D
ECO.14A
ECO.14B
ECO.14C
ECO.15A
ECO.15B
ECO.15C
ECO.16A
ECO.16B
Personal Financial Literacy
ECO.16C
ECO.16D
ECO.17A
ECO.17B
ECO.17C
ECO.17D
ECO.18A
ECO.18B
ECO.18C
ECO.18D
ECO.18E
Description
The student understands key economic measurements. The student is expected to interpret economic data, including
unemployment rate, gross domestic product, gross domestic product per capita as a measure of national wealth, and
rate of inflation.
The student understands key economic measurements. The student is expected to analyze business cycles using key
economic indicators.
The student understands key components of economic growth. The student is expected to analyze how productivity
relates to growth.
The student understands key components of economic growth. The student is expected to analyze how technology
relates to growth.
The student understands key components of economic growth. The student is expected to analyze how trade relates
to growth.
The student understands the role of money in an economy. The student is expected to describe the functions of
money.
The student understands the role of money in an economy. The student is expected to describe the characteristics of
money, including commodity money, fiat money, and representative money.
The student understands the role of money in an economy. The student is expected to examine the positive and
negative aspects of barter, currency, credit cards, and debit cards.
The student understands the role of the Federal Reserve System in establishing monetary policy. The student is
expected to explain the structure of the Federal Reserve System.
The student understands the role of the Federal Reserve System in establishing monetary policy. The student is
expected to analyze the three basic tools used to implement U.S. monetary policy, including reserve requirements,
the discount rate and the federal funds rate target, and open-market operations.
The student understands the role of the Federal Reserve System in establishing monetary policy. The student is
expected to explain how the actions of the Federal Reserve System affect the nation's money supply.
The student understands the role of the Federal Reserve System in establishing monetary policy. The student is
expected to analyze the decline in value of the U.S. dollar, including the abandonment of the gold standard.
The student understands the role that the government plays in the U.S. free enterprise system. The student is
expected to identify economic concepts in the U.S. Constitution, including property rights and taxation.
The student understands the role that the government plays in the U.S. free enterprise system. The student is
expected to describe the role of government in the U.S. free enterprise system and the changes in that role over
time.
The student understands the role that the government plays in the U.S. free enterprise system. The student is
expected to evaluate government rules and regulations in the U.S. free enterprise system.
The student understands the economic impact of fiscal policy decisions at the local, state, and national levels. The
student is expected to identify types of taxes at the local, state, and national levels and the economic importance of
each.
The student understands the economic impact of fiscal policy decisions at the local, state, and national levels. The
student is expected to analyze the categories of revenues and expenditures in the U.S. federal budget.
The student understands the economic impact of fiscal policy decisions at the local, state, and national levels. The
student is expected to analyze the impact of fiscal policy decisions on the economy.
The student understands types of business ownership. The student is expected to explain the characteristics of sole
proprietorships, partnerships, and corporations.
The student understands types of business ownership. The student is expected to analyze the advantages and
disadvantages of sole proprietorships, partnerships, and corporations.
The student understands types of business ownership. The student is expected to analyze the economic rights and
responsibilities of businesses, including those involved in starting a small business.
The student understands types of business ownership. The student is expected to explain how corporations raise
money through stocks and bonds.
The student understands the role of financial markets/institutions in saving, borrowing, and capital formation. The
student is expected to explain the functions of financial institutions and how they affect households and businesses.
The student understands the role of financial markets/institutions in saving, borrowing, and capital formation. The
student is expected to explain how the amount of savings in an economy is the basis of capital formation.
The student understands the role of financial markets/institutions in saving, borrowing, and capital formation. The
student is expected to analyze the role of interest and risk in allocating savings to its most productive use.
The student understands the role of financial markets/institutions in saving, borrowing, and capital formation. The
student is expected to examine the types of accounts available to consumers from financial institutions and the risks,
monetary costs, and benefits of maintaining these accounts.
The student understands the role of individuals in financial markets. The student is expected to assess ways to be a
wise investor in the stock market and in other personal investment options.
The student understands the role of individuals in financial markets. The student is expected to explain how to begin
a savings program.
The student understands the role of individuals in financial markets. The student is expected to examine investment
options available in a personal retirement plan.
The student understands the role of individuals in financial markets. The student is expected to demonstrate how to
maintain a checking account, including reconciling a bank statement.
The student understands the role of individuals in financial markets. The student is expected to identify the types of
loans available to consumers.
®SAISD Social Studies Department
Page 13
Reproduction rights granted only if copyright information remains intact.
Personal Financial Literacy
TEKS
ECO.18F
ECO.18G
ECO.19A
ECO.19B
ECO.19C
ECO.19D
ECO.20A
ECO.20B
ECO.20C
ECO.21A
ECO.21B
ECO.21C
Social Studies Skills
ECO.21D
ECO.21E
ECO.21F
ECO.22A
ECO.22B
ECO.22C
ECO.22D
ECO.22E
ECO.23A
ECO.23B
Description
The student understands the role of individuals in financial markets. The student is expected to explain the
responsibilities and obligations of borrowing money.
The student understands the role of individuals in financial markets. The student is expected to develop strategies to
become a low-risk borrower by improving one's personal credit score.
The student applies critical-thinking skills to analyze the costs and benefits of personal financial decisions. The
student is expected to examine ways to avoid and eliminate credit card debt.
The student applies critical-thinking skills to analyze the costs and benefits of personal financial decisions. The
student is expected to evaluate the costs and benefits of declaring personal bankruptcy.
The student applies critical-thinking skills to analyze the costs and benefits of personal financial decisions. The
student is expected to evaluate the costs and benefits of buying insurance.
The student applies critical-thinking skills to analyze the costs and benefits of personal financial decisions. The
student is expected to evaluate the costs and benefits of charitable giving.
The student understands how to provide for basic needs while living within a budget. The student is expected to
evaluate the costs and benefits of renting a home.
The student understands how to provide for basic needs while living within a budget. The student is expected to
evaluate the costs and benefits of buying a home.
The student understands how to provide for basic needs while living within a budget. The student is expected to
assess the financial aspects of making the transition from renting to home ownership.
The student applies critical-thinking skills to organize and use information acquired from a variety of valid sources,
including electronic technology. The student is expected to analyze economic 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 student applies critical-thinking skills to organize and use information acquired from a variety of valid sources,
including electronic technology. The student is expected to create economic models, including productionpossibilities curves, circular-flow charts, and supply-and-demand graphs, to analyze economic concepts or issues.
The student applies critical-thinking skills to organize and use information acquired from a variety of valid sources,
including electronic technology. The student is expected to explain a point of view on an economic issue.
The student applies critical-thinking skills to organize and use information acquired from a variety of valid sources,
including electronic technology. The student is expected to analyze and evaluate the validity of economic information
from primary and secondary sources for bias, propaganda, point of view, and frame of reference.
The student applies critical-thinking skills to organize and use information acquired from a variety of valid sources,
including electronic technology. The student is expected to evaluate economic data using charts, tables, graphs, and
maps.
The student applies critical-thinking skills to organize and use information acquired from a variety of valid sources,
including electronic technology. The student is expected to use appropriate mathematical skills to interpret economic
information.
The student communicates in written, oral, and visual forms. The student is expected to use economic-related
terminology correctly.
The student communicates in written, oral, and visual forms. The student is expected to use standard grammar,
spelling, sentence structure, and punctuation.
The student communicates in written, oral, and visual forms. The student is expected to transfer information from
one medium to another, including written to visual and statistical to written or visual, using computer software as
appropriate.
The student communicates in written, oral, and visual forms. The student is expected to create written, oral, and
visual presentations of economic information.
The student communicates in written, oral, and visual forms. The student is expected to attribute ideas and
information to source materials and authors.
The student uses problem-solving and decision-making skills, working independently and with others, in a variety of
settings. The student is expected to 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.
The student uses problem-solving and decision-making skills, working independently and with others, in a variety of
settings. The student is expected to 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.
®SAISD Social Studies Department
Page 14
Reproduction rights granted only if copyright information remains intact.
This Page is Intentionally Blank
®SAISD Social Studies Department
Page 15
Reproduction rights granted only if copyright information remains intact.
Materials Organized and Provided By:
The Social Studies Department
“At Your Service”
406 Barrera St.
San Antonio, TX 78210
Phone: 210•554•2630
Fax: 210•224•6448
Content ®SAISD Social Studies Department Except Where Noted
®SAISD Social Studies Department
Page 16
Reproduction rights granted only if copyright information remains intact.