Download Economics v. 2016

Economics
This course offers a thorough introduction to the study of economics, first at the individual and
community level, then the national level, and finally the international level. We will begin by
identifying basic economic concepts such as supply and demand. We will then investigate how these
concepts impact daily decisions made by individuals as well as the price one pays for goods and
services. We will also analyze various taxation policies and their effectiveness. Furthermore, we will
discuss the factors behind economic instability and the institutions and policies put in place to
achieve and maintain economic stability. Additionally we will compare the economic system used in
the United States to those used in other nations around the world. Finally, we will discuss economic
activity on a global scale focusing on international trade, developing countries, and global economic
challenges.
Course Information:
Frequency & Duration: Averaging 42 minutes per day; 5 days per week; one semester
Text: McGraw Hill Understanding Economics
Social Studies: Economics
2016 - 2017
Content: Fundamentals of Economics
Duration: Week 1 thru Week 2 (2 weeks)
Essential
In what ways do people cope with the problem of scarcity?
Question:
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Analyze how choices are made because of scarcity
Predict the long-term consequences of decisions made because of scarcity
Identify the origin of resources and analyze the impact on the production of goods and
services
Analyze how unlimited wants and limited resources affect decision making
Evaluate the economic reasoning behind a choice
Evaluate the effective allocation of resources for the production of goods and services
Analyze the opportunity cost of decisions made by individuals, businesses, communities
and nations
Describe how productivity is measured and identify ways in which a person can improve is
or her productivity
Examine leading entrepreneurs in Pennsylvania and the United States in terms of the risks
they took and the rewards they received
Assess the impact of entrepreneurs on the economy
Evaluate how changes in education, incentives, technology, and capital investment alter
productivity
Compare the role groups and individuals played in the social, political, cultural and
economic developments of the U.S.
Explain how specialization contributes to economic interdependence on a national and
international level
Given an example, students will analyze how choices are made because of scarcity
Given an example, students will predict the long-term consequences of decisions made
because of scarcity.
Given an example, students will identify the origin of resources and analyze the impact on
the production of goods and services
Given an example, students will analyze how unlimited wants and limited resources affect
decision making
Given an example, students will evaluate the economic reasoning behind a choice
Given an example, students will evaluate effective allocation of resources for the
production of goods and services
Given an example, students will analyze the opportunity cost of decisions made by
individuals, businesses, communities and nations
Given an example, students will describe how productivity is measured and identify ways in
which a person can improve is or her productivity
Given an example, students will examine leading entrepreneurs in Pennsylvania and the
United States in terms of the risks they took and the rewards they received
Given an example, students will assess the impact of entrepreneurs on the economy
Given an example, students will evaluate how changes in education, incentives, technology,
and capital investment alter productivity
Given an example, students will compare the role groups and individuals played in the
social, political, cultural and economic developments of the U.S.
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Social Studies: Economics
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Given an example, students will explain how specialization contributes to economic
interdependence on a national and international level
Textbook pages 3-34
Factors of Production worksheet
Howard Schultz entrepreneur worksheet
Resources: Production Possibilities Frontier worksheets
Economic Collage
Shark Tank episode (will vary)
6.1.9.A. (U.A; W.A.) Analyze how choices are made because of scarcity
6.1.C.A. (12.A) Predict the long-term consequences of decisions made because of scarcity.
6.1.9.B. Identify the origin of resources and analyze the impact on the production of goods and
services. Analyze how unlimited wants and limited resources affect decision making.
6.1.C.B. Evaluate the economic reasoning behind a choice.
6.1.1.12.B. Evaluate the economic reasoning behind a choice. Evaluate effective allocation of
resources for the production of goods and services
6.1.12.C., 6.1.U.C. (W.C) Analyze the opportunity cost of decisions made by individuals,
businesses, communities, and nations.
6.5.9.B.Describe how productivity is measured and identify ways in which a person can
Standards: improve his or her productivity
6.5.9.F. (6.5.U.F.) Examine leading entrepreneurs in( Pennsylvania) and the United States in
terms of the risks they took and the rewards they received.
6.5.12.F Assess the impact of entrepreneurs on the economy
6.5.12.B Evaluate how changes in education, incentives, technology, and capital investment
alter productivity
6.5.U.B.—Compare the role groups and individuals played in the social, political, cultural and
economic development of the U.S.
6.4.9.A (U.A.; W.A.; C.A.) Explain how specialization contributes to economic
interdependence on a national and international level
Economics—study of how people try satisfy seemingly unlimited and competing needs and
wants through the careful use of scarce resources; Entrepreneur—risk taking individuals who
introduce new products or services in search of profits; one of the factors of production ;
Factors of Production—productive resources needed to produce goods; the four factors are
land, capital, labor and entrepreneurship; Good—tangible economic product that is useful,
transferable to others, and used to satisfy wants and needs; Market—meeting place or
arrangement through which buyers and sellers interact to determine price and quantity of an
economic product; may be local, regional, national or global; Opportunity Cost—cost of the
Vocabulary: next best alternative use of money, time or resources, when one choice is made rather than
another; Productivity—measure of the amount of output produced in a specific time period
with a given amount of resources; normally refers to labor, but can apply to all factors of
production; Possibility Curve—diagram representing all possible combinations of goods
and/or services an economy can produce when all productive resources are fully employed;
Scarcity,--fundamental economic problem facing all societies resulting from a combination of
scarce resources and people’s virtually unlimited needs and wants; Service—work or labor
performed for someone
Comments
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Social Studies: Economics
2016 - 2017
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Social Studies: Economics
2016 - 2017
Content: Economic Systems and Decision Making
Duration: Week 3 thru Week 4 (2 weeks)
How does an economic system help a society deal with the fundamental economic problem of
Essential scarcity?
Question: What are the benefits of a free enterprise economy?
What are the major social and economic goals of the American free enterprise system?
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Compare and contrast various economic systems
Evaluate various economic systems
Compare the role groups and individuals played in the social, political, cultural and
economic developments of the U.S.
Students will analyze how conflict and cooperation among groups and organizations have
impacted the growth and development of the US
Explain how incentives cause people to change their behavior in predicable ways
Explain how changes in incentives may affect the choices made by individuals, businesses,
communities and nations
Given an example, students will compare and contrast various economic system
Given an example, students will evaluate various economic systems
Given an example, students will compare the role groups and individuals played in the
social, political, cultural and economic developments of the U.S.
Given an example, students will students will analyze how conflict and cooperation among
groups and organizations have impacted the growth and development of the US
Given an example, students will explain how incentives cause people to change their
behavior in predicable ways
Given an example, students will explain how changes in incentives may affect the choices
made by individuals, businesses, communities and nations
Textbook pages 35-98 (Ch. 2 & 3)
Economy of Sharing worksheet
Resources: Minimum Wage Around the World Graph
Minimum Wage Case Study
Shark Tank various episodes
6.2.9.G (U.G; W.G; C.G;) Compare and contrast various economic systems
6.2.12.G Evaluate various economic systems
6.5.U.B
6.4.U.C Compare the role groups and individuals played in the social, political, cultural, and
economic development of the U.S.
Standards: 6.3.U.D. (W.D.) Analyze how conflict and cooperation among groups and organizations have
impacted the growth and development of the US
6.1.9.D Explain how incentives cause people to change their behavior in predicable ways
6.1.12.D Explain how changes in incentives may affect the choices made by individuals,
businesses, communities and nations
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Social Studies: Economics
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Capitalism--economic system in which private citizens own and use the factors of production
in order to generate profits; Command Economy—economic system characterized by a
central authority that makes most of the major economic decisions; Communism—economic
and political system in which factors of production are collectively owned and directed by the
state; a theoretically classless society in which everyone works for the common good;
Competition—the struggle among sellers to attract consumers; Fixed Income—income that
does not increase over time; Market Economy—economic system in which supply, demand
Vocabulary: and the price system help people allocate resources and make the what, how and for whom to
produce decisions; same as a free enterprise economy; Minimum Wage—lowest legal wage
that can be paid to most workers; Modified Free Enterprise Economy—free enterprise
market economy where people carry on their economic affair freely, but are subject to some
government intervention and regulation; Traditional Economy—economic system in which
the allocation of scarce resources, and other economic activity, is the result of ritual, habit or
custom
Comments
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Social Studies: Economics
2016 - 2017
Content: Business Organization
Duration: Week 5 thru Week 7 (2.5 weeks)
Essential How are businesses formed and how do they grow?
Question: How does a market economy support nonprofit organizations?
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Explain the scope and influence of multinational corporations and other non-government
organizations
Evaluate the impact of multinational corporations and other non-government
organizations
Identify and explain the characteristics of sole proprietorship, partnership, and corporation.
Analyze the costs and benefits of organizing a business as a sole proprietorship,
partnership, or corporation
Analyze how risks influence business decision-making.
Analyze the role of profits and losses in the allocation of resources in a market economy.
Analyze how conflict and cooperation among groups and organizations have impacted the
growth and development of the U.S. ethnicity and race
Explain the scope and influence of multinational corporations and other non-governmental
organizations
Students will analyze how conflict and cooperation among groups and organizations have
impacted the growth and development of the US
Analyze the risks and returns of various investments
Explain how incentives cause people to change their behavior in predicable ways
Given an example, students will evaluate the impact of multinational corporations and
other non-government organizations
Given an example, students will identify and explain the characteristics of sole
proprietorship, partnership, and corporation.
Given an example, students will analyze the costs and benefits of organizing a business as a
sole proprietorship, partnership, or corporation
Given an example, students will analyze how risks influence business decision-making.
Given an example, students will analyze the role of profits and losses in the allocation of
resources in a market economy.
Given an example, students will analyze how conflict and cooperation among groups and
organizations have impacted the growth and development of the U.S. ethnicity and race
Given an example, students will explain the scope and influence of multinational
corporations and other non-governmental organizations
Given an example, students will analyze how conflict and cooperation among groups and
organizations have impacted the growth and development of the US
Given an example, students will analyze the risks and returns of various investments
Given an example, students will explain how incentives cause people to change their
behavior in predicable ways
Textbook pages 209-240
Small Business Worksheet
Resources: Stock Market Project
Megamerger Worksheet
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Social Studies: Economics
2016 - 2017
Business Graphic Organizer
Shark Tank Episodes (will vary)
6.4.C.C. (12.C) Evaluate the impact of multinational corporations and other non-government
organizations.
6.5.9.C.Identify and explain the characteristics of sole proprietorship, partnership, and
corporation.
6.5.12.C. Analyze the costs and benefits of organizing a business as a sole proprietorship,
partnership, or corporation.
6.5.9.D. Analyze how risks influence business decision-making.
6.5.12.D. Analyze the role of profits and losses in the allocation of resources in a market
economy
Standards:
6.3.U.B (W.B.) Analyze how conflict and cooperation among groups and organizations have
impacted the growth and development of the U.S. ethnicity and race (working conditions,
immigration, military conflict, economic stability)
6.4.9.C Explain the scope and influence of multinational corporations and other nongovernmental organizations
6.3.U.D. (W.D.) Analyze how conflict and cooperation among groups and organizations have
impacted the growth and development of the US
6.5.12.G Analyze the risks and returns of various investments
6.1.9.D Explain how incentives cause people to change their behavior in predicable way
Charter—written government approval to establish a corporation; includes company name,
address, purpose of business, number of shares of stock, and other features of the business;
Collective Bargaining—process of negotiation between union and management
representatives over pay, benefits, and job-related matters; Conglomerate—firm with four or
more businesses making unrelated products, with no single business responsible for a majority
of its sales; Cooperative—nonprofit association performing some kind of economic activity
for the benefit of its members; Corporation—form of business organization recognized by
law as a separate legal entity with all the rights and responsibilities of an individual, including
the right to buy and sell property, enter into legal contracts, and to sue and be sued; Labor
Union—organization that works for its members’ interests concerning pay, working hours,
Vocabulary: health coverage, fringe benefits, and other job related matters; Merger—combination of two
or more business enterprises to form a single firm; Multinational—corporation producing
and selling without regard to national boundaries and whose business activities are located in
several different countries; Nonprofit Organization—economic institution that operates like
a business but does not seek financial gain; Partnership—unincorporated business owned and
operated by two or more people who share the profits and have unlimited liability for the debts
and obligations of the firm; Sole Proprietorship—unincorporated business owned and run by
a single person who has rights to all profits and unlimited liability for all debts of the firm; most
common form of business in the United States; Stock—certificate of ownership in a
corporation; Unlimited Liability—requirement that an owner is personally and fully
responsible for all losses and debts of a business
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Social Studies: Economics
2016 - 2017
Content: Demand, Supply and Price
Duration: Week 7 thru Week 10 (2.5 weeks)
Essential What are the causes in change in demand?
What are the basic differences between supply and demand?
Question: What factors affect prices?
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Explain the laws of supply and demand and how these affect the prices of goods and
services.
Explain how the laws of supply and demand impacted individuals and groups behavior
over time.
Predict how changes in supply and demand affect equilibrium price and quantity sold
Explain how competition between buyers and sellers affects price
Analyze the effect of changes in the level of competition in different markets
Evaluate the impact of advertising and media on individual and group behavior throughout
U.S. history
Evaluate the impact of advertising and media on individual and group behavior throughout
history
Predict and evaluate how media affects markets
Given an example, students will explain the laws of supply and demand and how these
affect the prices of goods and services.
Given an example, students will explain how the laws of supply and demand impacted
individuals and groups behavior over time.
Given an example, students will predict how changes in supply and demand affect
equilibrium price and quantity sold
Given an example, students will explain how competition between buyers and sellers
affects price
Given an example, students will analyze the effect of changes in the level of competition in
different markets
Given an example, students will evaluate the impact of advertising and media on individual
and group behavior throughout U.S. history
Given an example, students will evaluate the impact of advertising and media on individual
and group behavior throughout history
Given an example, students will predict and evaluate how media affects markets
Textbook pages 99-178
Furby Worksheet
Demand Curve Practice Worksheets
Resources: Supply Curve Practice Worksheets
Demand or Supply Practice Worksheets
Advertainment Reading and Worksheet
Jellybean Graphing Worksheet
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Social Studies: Economics
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6.2.U.D. (W.D.) Explain how the laws of supply and demand impacted individuals and groups
behavior over time.
6.2.9.D. Explain the laws of supply and demand and how these affect the prices of goods and
services.
6.2.12.D. Predict how changes in supply and demand affect equilibrium price and quantity sold.
6.2.9.B Explain how competition between buyers and sellers affects price
Standards: 6.2.12.B Analyze the effect of changes in the level of competition in different markets
6.2.9.C Analyze how media affects economic decisions
6.2.U.C. Evaluate the impact of advertising and media on individual and group behavior
throughout United States history
6.2.W.C Evaluate the impact of advertising and media on individual and group behavior
throughout world history
6.2.12.C Predict and evaluate how media affects markets
Change in Demand—different amounts of a product are demanded at every price, causing
the demand curve to shirt to the left or to the right; Change in Quantity Demanded—
movement along the demand curve showing that a different quantity is purchased in response
to a change in price; Change in Quantity Supplied—change in the amount offered for sale
in response to a price change; movement along the supply curve; Change in Supply—
different amounts offered for sale at each and every possible price in the market; shift of the
supply curve; Complements—products that increase the use of other products; Demand—
combination of quantities that someone would be willing and able to buy over a range of
possible prices at a given moment; Demand Curve—graph showing the quantity demanded
at each and every possible price that might prevail in the market at a given time; Equilibrium
Price—price when quantity supplied equals quantity demanded; price that clears the market;
Vocabulary: Law of Demand—rule stating that more will be demanded at lower prices and less at higher
prices; Law of Supply—principle that more will be offered for sale at higher prices than lower
prices; Marginal Utility—additional satisfaction or usefulness obtained from acquiring or
consuming one more unit of a product; Price—the monetary value of a product; Shortage—
situation where quantity supplied is less than quantity demanded at a given price; Subsidy—
government payment to encourage or protect a certain economic activity; Substitutes—
competing products that can be used in place of one another; Supply—amount of a product a
producer or seller would be willing to offer for sale at all possible prices in a market at a given
point in time; Supply Curve—a graph that shows the quantities supplied at each and every
possible price in the market; Surplus—situation where quantity supplied is greater than
quantity demanded at a given price
Comments
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Social Studies: Economics
2016 - 2017
Content: Evaluating the Economy
Duration: Week 11 thru Week 14 (3 weeks)
Essential What are the causes and consequences of instability in the economy?
Question: How do we determine the economic and social well-being of the United States?
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Analyze the characteristics of economic expansion, recession, and depression
Analyze the impact of the business cycle on individual and group behavior over time
Evaluate the health of an economy (local, regional, national, global) using economic
indicators.
Examine how and why the government acts to regulate and stabilize the state and national
economy.
Assess the government's role in regulating and stabilizing the state and national economy.
Analyze the flow of goods and services in the national economy
Analyze how conflict and cooperation among groups and organizations have impacted the
growth and development of the U.S. ethnicity and race
Compare distribution of wealth across nations
Define wealth and describe its distribution within and among the political divisions of the
United States
Explain the impact of higher or lower interest rates for savers, borrowers, consumers and
producers
Evaluate benefits and costs of changes in interest rates for individuals and society
Compare and contrast the effect of the physical systems on people across the regions of
the United States
Given an example, students will analyze the characteristics of economic expansion,
recession, and depression
Given an example, students will analyze the impact of the business cycle on individual and
group behavior over time.
Given an example, students will evaluate the health of an economy (local, regional,
national, global) using economic indicators
Given an example, students will examine and assess how and why the government acts to
regulate and stabilize the state and national economy
Given an example, students will analyze the flow of goods and services in the national
economy
Given an example, students will analyze how conflict and cooperation among groups and
organizations have impacted the growth and development of the U.S. ethnicity and race
Given an example, students will compare distribution of wealth across nations
Given an example, students will define wealth and describe its distribution within and
among the political divisions of the United States
Given an example, students will explain the impact of higher or lower interest rates for
savers, borrowers, consumers and producers
Given an example, students will evaluate benefits and costs of changes in interest rates for
individuals and society
Given an example, students will compare and contrast the effect of the physical systems on
people across the regions of the United States
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Social Studies: Economics
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Textbook pages 333-394
Globalization worksheet
Resources: Market Basket Project
Unemployment Worksheet
6.2.9.E & 6.2.C.E .Analyze the characteristics of economic expansion, recession, and
depression
6.2.U.E.(W.E.) Analyze the impact of the business cycle on individual and group behavior over
time.
6.2.12.E. Evaluate the health of an economy (local, regional, national, global) using economic
indicators.
6.3.9.B. Examine how and why the government acts to regulate and stabilize the state and
national economy
6.3.C.B. (12.B) Assess the government's role in regulating and stabilizing the state and national
economy
Standards:
6.2.9.A (U.A.; W.A.; C.A.) Analyze the flow of goods and services in the national economy
6.3.U.B (W.B.)
6.5.W.E (12.E) Compare distribution of wealth across nations
6.5.9.E (U.E.) Define wealth and describe its distribution within and among the political
divisions of the United States
6.5.9.H Explain the impact of higher or lower interest rates for savers, borrowers, consumers
and producers
6.5.12.H Evaluate benefits and costs of changes in interest rates for individuals and society
7.4.9.A Compare and contrast the effect of the physical systems on people across the regions
of the United States
Business Cycles—systematic changes in real GDP marked by alternating periods of
expansion and contraction; Census—complete count of the population, including place of
residence; Current GDP—gross domestic product measured in current prices, unadjusted for
inflation; Depression—state of the economy with large numbers of unemployed, declining
real incomes, overcapacity in manufacturing plants, and general economic hardship;
Disposable Personal Income—personal income less individual income taxes; total income
available to the consumer sector after income taxes; Expansion—period of uninterrupted
growth of real GDP, industrial production, real income, and employment lasing for several
years or more; Gross Domestic Product—monetary value of all final goods, services and
structures produced within a country’s national borders during a one-year period; Gross
Vocabulary: National Product—the market value of goods and services produced by labor and property
supplied by U.S. residents; Inflation—sustained rise in the general level of prices of goods and
services; Outsourcing—hiring outside firms to perform non-core operations to lower
operating costs; Personal Income—total amount of income going to the consumer sector
before individual income taxes are paid; Real GDP—gross domestic product after adjustments
for inflation; Recession—decline in real GDP lasting two quarters or more; Unemployment
Rate—ratio of unemployed individuals divided by total number of persons in the civilian labor
force, expressed as a percentage; Wealth—sum of tangible economic goods that are scarce,
useful, and transferable from one person to another; Welfare—government or private agency
programs that provide general economic and social assistance to needy individuals
Comments
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Social Studies: Economics
2016 - 2017
Content: Labor, Wages and Taxation
Duration: Week 14 thru 16 (2 weeks)
Essential
What factors lead to higher wages for a worker?
Question: How does the government collect revenue, and on what is that revenue spent?
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Analyze the process through which government provides public goods and services
Evaluate the costs and benefits of government decisions to provide public goods and
services
Compare and contrast the taxation policies of the local, state and national governments
Evaluate the social, political, and economic costs/benefits of potential changes to taxation
Define wages and explain how wages are determined in terms of supply and demand
Analyze the factors influencing wages
Compare and contrast the various financial tools available to savers
Analyze the risks and returns of various investments
Explain the various types of taxes and their purposes
Evaluate tax policies of various states and countries
Explain the opportunity cost associated with government policies
Analyze strategies used to resolve conflict in society and government
Examine the causes of conflicts in society and evaluate the techniques to address those
conflicts
Given an example, students will analyze the process through which government provides
public goods and services
Given an example, students will evaluate the costs and benefits of government decisions to
provide public goods and services
Given an example, students will compare and contrast the taxation policies of the local,
state and national governments
Given an example, students will evaluate the social, political, and economic costs/benefits
of potential changes to taxation
Given an example, students will define wages and explain how wages are determined in
terms of supply and demand
Given an example, students will analyze the factors influencing wages
Given an example, students will compare and contrast the various financial tools available
to savers
Given an example, students will analyze the risks and returns of various investments
Given an examples, students will explain the various types of taxes and their purposes
Given an example, students will evaluate tax policies of various states and countries
Given an example, students will explain the opportunity cost associated with government
policies
Given an example, students will analyze strategies used to resolve conflict in society and
government
Given an example, students will examine the causes of conflicts in society and evaluate the
techniques to address those conflicts
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2016 - 2017
Resources: Textbook pages 241-266 & 397-430
6.3.9.A Analyze the process through which government provides public goods and services
6.3.C.A Evaluate the costs and benefits of government decisions to provide public goods and
services
6.3.9.C. (U.C.) Compare and contrast the taxation policies of the local, state and national
governments
6.3.C.C. (12.C) Evaluate the social, political, and economic costs/benefits of potential changes
to taxation
6.5.9.A Define wages and explain how wages are determined in terms of supply and demand
Standards: 6.5.12.A Analyze the factors influencing wages
6.5.9.G Compare and contrast the various financial tools available to savers
6.5.12.G
5.3.9.I (5.3.C.I) Explain the various types of taxes and their purposes
5.3.12.I
6.1.9.C (6.1.C.C.) Explain the opportunity cost associated with government policies
5.2.9.B (U.B.; W.B; C.B) Analyze strategies used to resolve conflict in society and government
5.2.12.B Examine the causes of conflicts in society and evaluate the techniques to address those
conflicts
Civilian Labor Force—noninstitutionalized part of the population, age 16 and over, either
working or looking for a job; Collective Bargaining—process of negotiation between union
and management representatives over pay, benefits and job-related matters; Distribution of
Income—the way in which income is allocated among families, individuals, or other groups;
Equilibrium Wage Rate—wage rate leaving neither a surplus nor a shortage of workers in the
market; Flat Tax—proportional tax on individual income after a specified threshold has been
reached; Individual Income Tax—tax levied on wages, salaries, and other income of
individuals; Internal Revenue Service—branch of the U.S. Treasury Department that
collects taxes; Market Theory of Wage Determination—explanation stating that the supply
Vocabulary: and demand for a worker’s skills and services determine the wage or salary; Progressive
Tax—tax where percentage of income paid in tax rises as level of income rises; Proportional
Tax—tax in which percentage of income paid in tax is the same regardless of the level of
income; Regressive Tax—tax where percentage of income paid in tax goes down as income
rises; Right To Work Law—state law making it illegal to require a worker to join a union;
Sales Tax—general state or city tax levied on a product at the time of sale; Sin Tax—a
relatively high tax designed to raise revenue while reducing consumption of a socially
undesirable product; Wage Rate—prevailing pay scale for work performed in an occupation
in a given area or region
Comments
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Social Studies: Economics
Content: Global Trade and Economic Development
2016 - 2017
Duration: Week 16 thru Week 18 (2 weeks)
Essential How does trade benefit all participating parties?
What are the challenges associated with globalization?
Question: Why is the economic health of all nations important in a global economy?
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Assessment:
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Explain why governments limit or promote international trade
Evaluate the role that governments play in international trade
Evaluate the comparative advantage of nations in the production of goods and services
Explain how trade contributes to economic interdependence
Assess the growth and impact of international trade around the world
Explain how the level of development of transportation, communication networks, and
technology affect economic interdependence
Analyze how changes in transportation, communication networks, and technology affect
economic interdependence around the world in the century
Identify the role of international organizations
Evaluate the effectiveness of international organizations, both governmental and nongovernmental
Analyze how conflict and cooperation among groups and organizations have impacted the
control of limited resources in the United States
Predict how incentives may affect the choices made by individuals, businesses,
communities, and nations
Evaluate the flow of goods and services in the international economy
Explain and analyze the human characteristics of places and regions using the following
criteria: economic activities, population, culture, settlement, political activities
Analyze the effects of changes in the physical systems
Analyze the global effects of changes in the physical systems
Explain and illustrate how geographic tools are used to organize and interpret information
about people, places and environments
Use geographic tools to analyze information about the interaction between people, places
and environments
Given an example, students will explain why governments limit or promote international
trade
Given an example, students will evaluate the role that governments play in international
trade
Given an example, students will evaluate the comparative advantage of nations in the
production of goods and services
Given an example, students will explain how trade contributes to economic
interdependence
Given an example, students will assess the growth and impact of international trade around
the world
Given an example, students will explain how the level of development of transportation,
communication networks, and technology affect economic interdependence
Given an example, students will analyze how changes in transportation, communication
networks, and technology affect economic interdependence around the world in the
century
14
Social Studies: Economics
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2016 - 2017
Given an example, students will identify the role of international organizations
Given an example, students will evaluate the effectiveness of international organizations,
both governmental and non-governmental
Given an example, students will analyze how conflict and cooperation among groups and
organizations have impacted the control of limited resources in the United States
Given an example, students will explain how changes in incentives may affect the choices
made by individuals, businesses, communities and nations
Given an example, students will evaluate the flow of goods and services in the international
economy
Given an example, students will explain and analyze the human characteristics of places
and regions using the following criteria: economic activities, population, culture, settlement,
political activities
Given an example, students will analyze the effects of changes in the physical systems
Given an example, students will analyze the global effects of changes in the physical
systems
Given an example, students will explain and illustrate how geographic tools are used to
organize and interpret information about people, places and environments
Given an example, students will use geographic tools to analyze information about the
interaction between people, places and environments
Textbook pages 489-550
Resources: International Trade Activity
6.3.9.D (6.3.C.D.) Explain why governments limit or promote international trade
6.3.12.D Evaluate the role that governments play in international trade
6.4.12.A Evaluate the comparative advantage of nations in the production of goods and
services
6.4.9.B (W.B.) Explain how trade contributes to economic interdependence
6.4.12.B Assess the growth and impact of international trade around the world
6.4.9.C
6.4.9.D (U.D; W.D.) Explain how the level of development of transportation, communication
networks, and technology affect economic interdependence
6.4.12.D Analyze how changes in transportation, communication networks, and technology
affect economic interdependence around the world in the century
5.4.9.C (W.C.) Identify the role of international organizations
Standards: 5.4.12.C Evaluate the effectiveness of international organizations, both governmental and nongovernmental
6.1.U.B (W.B.) Analyze how conflict and cooperation among groups and organizations have
impacted the control of limited resources in the United States
6.1.12.D
6.2.W.A. (12.A.) Evaluate the flow of goods and services in the international economy
7.3.9.A Explain the human characteristics of places and regions using the following criteria:
economic activities, population, culture, settlement, political activities
7.3.U.A (W.A; C.A; 12.A) Analyze the human characteristics of places and regions using the
following criteria: economic activities, population, culture, settlement, political activities
7.4.U.A (W.A.) Analyze the effects of changes in the physical systems
7.4.12.A Analyze the global effects of changes in the physical systems
15
Social Studies: Economics
2016 - 2017
7.1.9.A Explain and illustrate how geographic tools are used to organize and interpret
information about people, places and environments
7.1.U.A (W.A; C.A; 12.A) Use geographic tools to analyze information about the interaction
between people, places and environments
Absolute Advantage—country’s ability to produce a given product more efficiently than can
another country; Comparative Advantage—country’s ability to produce a given product
relatively more efficiently than another country; production at a lower opportunity cost;
Developing Countries—nonindustrial nations marked by extremely low GNP, high poverty
rates, and economic instability; Embargo—government order prohibiting the movements of
goods to a country; Exports—the goods and services that a nation produces and then sells to
other nations; Globalization—movement toward a more integrated and interdependent world
Vocabulary: economy; Imports—the goods and services a nation buys from other nations; International
Monetary Fund—international organization that offers advice, financial assistance, and
currency support to all nations; Nonrenewable Resources—resources that cannot be
replenished once they are used; Renewable Resources—natural resource that can be
replenished for future use; Tariff—tax placed on an imported product ; World Trade
Organization—international agency that administers trade agreements, settles trade disputes
between governments, organizes trade negotiations, and provides technical assistance and
training for developing countries
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