Course Description
This course examines the basic theories, structures,
and operations of economics with special focus on the
American free enterprise system.
A Note on the Standards
The Economics curriculum includes both Boise School
District and State of Idaho standards. State standards
include content knowledge and skills in the following
areas: critical thinking and analytical skills, the
evolution of democracy, economic fundamentals and institutions,
concept of money, influences on economic systems, and
personal finance. While each standard is expressed
through specific, associated instructional objectives,
instructors should seek opportunities to apply the
standards throughout the course.
Adopted Materials
Exploring Economics
Southwestern, 2002
Copyright
Resources
K – 12
Social Studies Scope and Sequence
Course Scope
| Unit 1 |
Introduction to Economics |
3 Weeks |
| Unit 2 |
Microeconomics |
6 Weeks |
| Unit 3 |
Macroeconomics |
6 Weeks |
| Unit 4 |
Personal Finance |
3 Weeks |
Assessment
Correlation acronyms key
|
Unit
1 |
Introduction to Economics |
3 Weeks |
|
Instructional Objective
1341.01 Define scarcity and explain its implications
in decision making. |
Standard Reference
9-12.E.3.1.1 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Define economics and explain its relation to
the concept of scarcity. |
Ch. 1 |
EOC, TMA |
|
02 |
Explain how scarcity forces choices by individuals
and society. |
Ch. 1 |
EOC, TMA |
|
03 |
Identify the factors of production and explain
how the limited availability of these resources
impacts choices. |
Ch. 1 |
TMA |
|
04 |
Define opportunity cost and apply it to individual
and social decision making. |
Ch. 1, 2 |
EOC, TMA |
|
05 |
Define marginal thinking and cite examples for
individuals and businesses. |
Ch. 2 |
EOC
TMA |
|
06 |
Illustrate opportunity cost with a production
possibilities graph. |
Ch. 3 |
EOC, TMA |
|
Instructional Objective
1341.02 Identify the incentives that determine
what is produced and distributed in a competitive
market system. |
Standard Reference
9-12.E.3.1.3 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Explain how the market system allocates scarce
resources through market prices. |
Ch. 2, Supplement |
TMA |
|
02 |
Predict how incentives influence economic decision
making. |
Ch. 2 |
EOC, TMA |
|
Instructional Objective
1341.03 Compare and contrast the characteristics
of different economic systems. |
Standard Reference
9-12.E.3.2.1 |
|
Associated Instructional Objectives: |
|
|
Explain the basic functions of government in
a mixed economic system. |
9-12.E.4.2.1 |
|
Identify laws and policies adopted in the United
States to regulate competition. |
9-12.E.4.2.2 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Evaluate alternative models for the allocation
of resources and finished products by comparing
the costs and benefits of each model with emphasis
on the characteristics of a market economy. |
Ch. 3, Supplement |
EOC, TMA |
|
02 |
Compare the economic system of the United States
today with past eras and with the economic systems
of other nations. |
Ch. 3, Supplement |
EOC, TMA |
|
03 |
Explain how economic systems serve as a means
of achieving economic goals. |
Ch. 17 |
EOC, TMA |
|
Instructional Objective
1341.04 Explain and illustrate the impact
of economic policies and decisions made by
governments, business and individuals. |
Standard Reference
9-12.E.3.2.2 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Cite specific examples of how culture influences
economic decision making. |
Ch. 3 |
EOC, TMA |
|
02 |
Provide evidence of how technology influences
cultural and economic systems. |
Supplement |
EOC, TMA |
|
Instructional Objective
1341.05 Identify ways in which the interaction
of all buyers and sellers influence prices. |
Standard Reference
9-12.E.3.1.2 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Define demand and the law of demand. |
Ch. 4 |
EOC, TMA |
|
02 |
Construct a demand schedule and demand curve
for a product. |
Ch. 4 |
EOC, TMA |
|
03 |
List and explain the factors that cause demand
to change and graph those changes. |
Ch. 4 |
EOC, TMA |
|
04 |
Define supply and the law of supply. |
Ch. 4 |
EOC, TMA |
|
05 |
Construct a supply schedule and supply curve
for a product. |
Ch. 4 |
EOC, TMA |
|
06 |
List and explain the factors that cause supply
to change and graph those changes. |
Ch. 4 |
EOC, TMA |
|
07 |
Graphically illustrate how changes in supply
and demand influence the equilibrium price and
quantity of a product. |
Ch. 4 |
EOC, TMA |
|
08 |
Define price elasticity of demand and supply
and list its determinants. |
Ch. 4 |
EOC, TMA |
|
09 |
Predict the impact of government intervention
on the market. |
Ch. 4, 7 |
EOC, TMA |
|
Instructional Objective
1341.06 Explain and illustrate the impact
of economic policies and decisions made by
governments, business and individuals. |
Standard Reference
9-12.E.3.2.2 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Describe how geography and environment influence
production decisions. |
Ch. 16, Supplement |
EOC, TMA |
|
02 |
List examples of governmental actions in response
to externalities. |
Ch. 7, 16 |
EOC, TMA |
|
Instructional Objective
1341.07 Explain the characteristics of various
types of business and market structures. |
Standard Reference
9-12.E.3.3.1 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Compare the strengths and weaknesses of proprietorships,
partnerships and corporations. |
Ch. 13 |
EOC, TMA |
|
02 |
Compare the characteristics of pure competition,
monopolistic competition, oligopolies and monopolies. |
Ch. 9-12 |
EOC, TMA |
|
Instructional Objective
1341.08 Describe the elements of entrepreneurship. |
Standard Reference
9-12.E.3.3.2 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Create a list of entrepreneurial incentives. |
Ch. 8, 13 |
EOC, TMA |
|
02 |
Cite examples of economic growth created by
entrepreneurial activity. |
Special Features
Supplement |
EOC, TMA |
|
Instructional Objective
1341.09 Identify the role of the financial
markets and institutions. |
Standard Reference
9-12.E.3.3.3 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Summarize how issuing stock creates financial
capital for corporations. |
Ch. 13, Supplement |
EOC, TMA |
|
02 |
Evaluate stocks and bonds as investment options. |
Ch. 13, Supplement |
EOC, TMA |
|
Instructional Objective
1341.10 Explain the purposes of labor unions. |
Standard Reference
9-12.E.3.3.4 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Summarize the issues that led to the formation
and continuance of labor unions. |
Ch. 14 |
EOC, TMA |
|
02 |
Critique collective bargaining. |
Ch. 14 |
EOC, TMA |
|
Instructional Objective
1341.11 Explain the basic functions of government
in a mixed economic system. |
Standard Reference
9-12.E.4.2.1 |
|
Associated Instructional Objectives: |
|
|
Identify laws and policies adopted in the United
States to regulate competition. |
9-12.E.4.2.2 |
|
Explain the difference between monetary policy
and fiscal policy. |
9-12.E.3.3.5 |
|
Analyze the various parts of the business cycle
and its effect on the economy. |
9-12.E.3.3.6 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Define gross domestic product, consumer price
index, and unemployment rate. |
Ch. 17, 18 |
EOC, TMA |
|
02 |
Explain the effects on real GDP versus the price
level resulting from changes in Aggregate Supply
and Aggregate Demand. |
Ch. 17, 18 |
EOC, TMA |
|
03 |
Define fiscal policy and predict the potential
economic consequences of increasing or decreasing
government taxing and spending. |
Ch. 22 |
EOC, TMA |
|
04 |
Differentiate between, and give examples of
taxes. |
Ch. 7 |
EOC, TMA |
|
Instructional Objective
1341.12 Explain and analyze the role of money
in an economic system. |
Standard Reference
134112 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Describe the three functions of money in an
economy with specialization and the division
of labor. |
Ch. 23 |
EOC, TMA |
|
02 |
List the characteristics of money. |
Ch. 23 |
EOC, TMA |
|
03 |
Determine the effects of inflation and deflation
on purchasing power, standard of living, and
allocation of resources. |
Ch. 17, 25 |
EOC, TMA |
|
Instructional Objective
1341.13 Identify the role of the financial
markets and institutions. |
Standard Reference
9-12.E.3.3.3 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
List and evaluate different types of bank services. |
Ch. 23 |
TMA |
|
02 |
Describe the functions of the Federal Reserve
system. |
Ch. 24 |
EOC, TMA |
|
03 |
Propose monetary policies in reaction to macroeconomic
fluctuations. |
Ch. 23, 24 |
EOC, TMA |
|
04 |
Predict the economic consequences of changes
in monetary policy. |
Ch. 24 |
EOC, TMA |
|
Instructional Objective
1341.14 Examine and apply the elements of
responsible personal fiscal management such
as budgets, interest, investment, credit, and
debt. |
Standard Reference
9-12.E.3.4.1 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Calculate interest payments. |
Supplement |
EOC, TMA |
|
02 |
Calculate interest earnings. |
Supplement |
EOC, TMA |
|
03 |
List the factors that influence interest rates. |
Ch. 24 |
EOC, TMA |
|
04 |
Describe how interest rates act as incentives
for economic activity. |
Ch. 17, 24 |
EOC, TMA |
|
05 |
Explore the costs and benefits of borrowing
money at a governmental, business, and personal
level. |
Ch. 22
Supplement |
EOC, TMA |
|
Instructional Objective
1341.15 Apply economic concepts to explain
the role of imports and exports both nationally
and internationally. |
Standard Reference
9-12.E.5.1.3 |
|
Associated Instructional Objectives: |
|
|
Describe the involvement of the United States
in international economic organizations and treaties,
such as GATT, NAFTA, and the WTO. |
9-12.E.5.1.1 |
|
Analyze global economic interdependence and
competition. |
9-12.E.5.1.2 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Explain how comparative advantage and specialization
lead to mutually beneficial trade. |
Ch. 26 |
EOC, TMA |
|
02 |
Evaluate arguments concerning free trade. |
Ch. 26 |
EOC, TMA |
|
03 |
Identify restrictions on trade and agreements
to freer trade; and the impacts of these. |
Ch. 26 |
EOC, TMA |
|
Instructional Objective
1341.16 Examine and apply the elements of
responsible personal fiscal management such
as budgets, interest, investment, credit, and
debt. |
Standard Reference
9-12.E.3.4.1 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Create a personal budget given an income constraint. |
Supplement |
EOC, TMA |
|
02 |
Balance and reconcile bank statements. |
|
EOC, TMA |
|
03 |
Read and complete a credit agreement. |
Supplement |
EOC, TMA |
|
04 |
Calculate the cost of a product when using credit. |
Supplement |
EOC, TMA |
|
05 |
Differentiate between liabilities and assets. |
Supplement |
EOC, TMA |
|
06 |
Evaluate investment options. |
Ch. 13
Supplement |
EOC, TMA |
|
Instructional Objective
1341.17 Identify and evaluate sources and
examples of consumers’ responsibilities and
rights. |
Standard Reference
9-12.E.3.4.2 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
List obligations and rights found in a contract. |
Supplement |
EOC, TMA |
|
02 |
List consumer rights and protection laws in
Idaho. |
Supplement |
EOC, TMA |
|
Instructional Objective
1341.18 Discuss the impact of taxation as
applied to personal finances. |
Standard Reference
9-12.E.3.4.3 |
|
No. |
Performance Objective |
Resource Reference |
Assessment Correlation |
|
01 |
Demonstrate the ability to select and complete
appropriate tax forms. |
Supplement |
EOC, TMA |
|
02 |
Explain the impact of taxes on personal budgets. |
Supplement |
EOC, TMA |
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