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ROCKY FORD CURRICULUM GUIDE SUBJECT: Economics Standard and Grade Level Expectation 2. Economic policies affect markets Evidence Outcome a. Analyze how government activities influence the economy. Topics to include but not limited to: taxation, monetary policy, and the Federal Reserve I,M GRADE: 12 Student-Friendly Learning Objectives We will identify the sources of the government’s authority to tax. We will describe types of tax bases and tak structures. We will identify who bears the burden of a tax. We will list the characteristics of a good tax. We will explain the process of paying individual income taxes. We will identify the basic characteristics of corporate income taxes. We will explain the purpose of Social Security, Medcicare, and unemployment taxes. We will analyze other types of taxes. © Learning Keys, 800.927.0478, www.learningkeys.org Level of Thinking Analysis TIMELINE: 4th Quarter Resource Correlation Academic Vocabulary Federal Reserve Video Tax Revenue Progressive tax Proportional tax Regressive tax Tax base Indiviudal Income Tax Croporate Income tax Property tax Sales tax Incidence of a tax Withholding Tax Return Taxable Income Personal exemption Tax deduction Tax credit Esatate tax Tariff Tax Incentive Mandatory spending Discretionary spending Entitlement Budget Page 1 ROCKY FORD CURRICULUM GUIDE SUBJECT: Economics Standard and Grade Level Expectation Evidence Outcome GRADE: 12 Student-Friendly Learning Objectives Level of Thinking TIMELINE: 4th Quarter Resource Correlation Academic Vocabulary Operating budget Capital budget Balanced budget Tax exempt Real property Personal property Tax assessor Monetary policy Reserves Reserve requirements Check clearing Federal funds rate Discount rate We will distinguish between mandatory and discretionary spending. We will describe the major entitlement programs. We will identify categories of discretionary spending. We will explain the impact of federal aid to state and local governments. We will explain how states use a budget to plan their spending. We will identify where state taxes are spent. We will list the major sources of state of state tax revenue. b. Recognize the interaction © Learning Keys, 800.927.0478, www.learningkeys.org We will describe local government spending and sources of revenue. We will define various Knowledge Trade barrier Page 2 ROCKY FORD CURRICULUM GUIDE SUBJECT: Economics Standard and Grade Level Expectation Evidence Outcome between foreign and domestic economic policies. Topics to include but not limited to: embargoes, tariffs, and subsidies I,M GRADE: 12 Student-Friendly Learning Objectives Level of Thinking types of trade barriers. TIMELINE: 4th Quarter Resource Correlation Academic Vocabulary Tariff Import quota Saanctions Embargo Trade war Protectionism Infant industry Free trade Free-trade zone We will analyze the effects of trade barriers on economic activities. We will summarize arguments in favor of protectionism. We will evaluate the benefits and costs of participation in international trade agreements. c. Identify government activities that affect the local, state, or national economy M We will explain the role of multinationals in the global market We will describe characteristics and give examples of monopolistic competition. We will explain how firms compete without lowering price. We will understand how firms in a monpolictically competitive market set © Learning Keys, 800.927.0478, www.learningkeys.org Knowledge -Monopolistic Competition -Differentiation -Nonprice Competition -Oligopoly -Collusion -Cartel -Predatory Pricing -Antitrust Laws -Deregulation Page 3 ROCKY FORD CURRICULUM GUIDE SUBJECT: Economics Standard and Grade Level Expectation Evidence Outcome GRADE: 12 Student-Friendly Learning Objectives Level of Thinking TIMELINE: 4th Quarter Resource Correlation Academic Vocabulary output. We will describe charteristics and give examples of oligopoly. We will explain how firms might try to increase their market power. We will list three market practices that the government regulates or bans to protect competition. We will define deregulation, and list its effects on several industries. e. Analyze how positive and negative incentives influence the economic choices made by individuals, households, businesses, governments, and societies M © Learning Keys, 800.927.0478, www.learningkeys.org We will explain why the government may intervene in the marketplace. We will identify the constitutional protections that underlie free enterprise. Analysis Profit motive Private property rights Free contract Voluntary exchange Eminent domain Public interest Public discolusre Page 4 ROCKY FORD CURRICULUM GUIDE SUBJECT: Economics Standard and Grade Level Expectation Evidence Outcome GRADE: 12 Student-Friendly Learning Objectives Level of Thinking TIMELINE: 4th Quarter Resource Correlation We will describe the role of the consumer in the American economy. Academic Vocabulary laws We will describe how the government promotes economic strength. We will analyze the factors that increase productivity. f. Compare and contrast monetary and fiscal policies of the United States government that are used to stabilize the economy I,M 3. Government and competition affect markets d.Compare and contrast different types of taxing. Topics to include but not limited to progressive, regressive, and proportional I,M © Learning Keys, 800.927.0478, www.learningkeys.org We will compare monetary and fiscal policies of the United States government that are used to stabilize the economy. We will contrast monetary and fiscal policies of the United States government that are used to stabilize the economy. We will identify the sources of the government’s authority to tax. We will describe the types of tax bases and Comprehension Monetary policy Reserves Reserve requirements Real GDP Inflation Central Bank Interst Fiscal Policy Comprehension Denver Post Stock Market Game Progressive tax Proportional tax Regressive tax Incendence of a tax Sales tax Property tax Robert Kiyosaki, of Rich Dad Poor Dad NEFE High School Page 5 ROCKY FORD CURRICULUM GUIDE SUBJECT: Economics Standard and Grade Level Expectation Evidence Outcome GRADE: 12 Student-Friendly Learning Objectives Level of Thinking TIMELINE: 4th Quarter Resource Correlation Academic Vocabulary Financial Planning Program Corporate income tax Individual income tax Portfolio Prospectus Return Application Buzz on Bizz Business Plan Knowledge Prentice Hall, Economics PFH Workbook FICA tax structures. We will identify who bears the burden of a tax. 4. Design, analyze, and apply a financial plan based on short- and longterm financial goals a.Develop a financial plan including a budget based on short- and long- term goals M d. Identify sources of personal income and likely deductions and expenditures as a basis for a financial plan M We will list the characteristics of a good tax. We will develop a financial plan including a 12 month budget and 3 year forecast for a business. We will identify sources of personal income and expenditures as a basis for a fianical plan. We will identify personal deductions and expenditures as a basis for fiannical plan. © Learning Keys, 800.927.0478, www.learningkeys.org NEFE High School Financial Planning Program Chapter 1 Page 6 ROCKY FORD CURRICULUM GUIDE SUBJECT: Economics Standard and Grade Level Expectation Evidence Outcome e.Describe legal and ethical responsibilities regarding tax liabilities M GRADE: 12 Student-Friendly Learning Objectives We will describe legal responsibilities regarding tax liabilities. Level of Thinking TIMELINE: 4th Quarter Resource Correlation Academic Vocabulary Knowledge Incidence of a tax Tax burden Comprehension Denver Post Stock Market Game Investment Financail system Financial asset Financila intermediary Mutual fund Hedge fund Diversification We will describe ethical responsibilities regarding tax liabilities 5. Analyze strategic spending, saving, and investment options to achieve the objectives of diversification, liquidity, income, and growth a. Compare and contrast the variety of investments available for a diversified portfolio M d. Describe the appropriate types of investments to achieve the objectives of liquidity, income and growth M 6. The components of personal credit to manage credit and debt c. Make connections between building and maintaining a credit history and its impact on lifestyle M © Learning Keys, 800.927.0478, www.learningkeys.org We will compare the variety of investments available for a diversified portfolio. We will constrast the variety of investments available for a diversified portfolio. We will describe the appropriate types of investment to achieve the objective of liguqidy, income and growth. We will make connections between building a credit history and its impact on Robert Kiyosaki, of Rich Dad Poor Dad NEFE High School Financial Planning Knowledge Prentice Hall, Economics Chapter 11.1-3 NEFE High School Financil Planning Program Chapter 3 Comprehension NEFE High School Fiancial Planning Program, Chapter 4 Credit Card Installment Loan Student Loan Mortgage Page 7 ROCKY FORD CURRICULUM GUIDE SUBJECT: Economics Standard and Grade Level Expectation Evidence Outcome GRADE: 12 Student-Friendly Learning Objectives Level of Thinking TIMELINE: 4th Quarter Resource Correlation Academic Vocabulary lifestyle. We will make connections between maintaining a credit history and its impact on lifestyle. © Learning Keys, 800.927.0478, www.learningkeys.org Page 8