Grade: 12 th ; Economics TEKS Guiding Questions Content Vocabulary Resources/Lesson Ideas

Transcription

1 Economics 1 st six weeks Introduction to Econ. (2-3 weeks) 1a-d understands concepts of scarcity and opportunity costs 7ab understands right to own, use and dispose of private property 8abc understands circular flow model 5a-e understands different economic systems 11a-c understands key components of economic growth 10ab understands key economic measures Students will interpret a circular flow model of economic activity. Students will explain and discuss characteristics of different economies. Students will identify various types of unemployment Students will discuss concepts of absolute and comparative advantage. Students will use costbenefit analysis to evaluate government programs and apply concepts of scarcity and opportunity cost free enterprise command economy traditional economy factors of production market economy consumer circular flow model revenue absolute advantage comparative advantage Resources: PH book--chps 1, 2, 3, pgs , , Ch 9 GT extension: Students will draw conclusions: Some economists consider entrepreneurship to be a fourth factor of production in addition to land, labor, and capital. Other economists consider entrepreneurship to be a special category of labor. Which group of economists do you agree with? Why?

2 Economics 1 st six weeks Supply & Demand (1-2 weeks) 2abc understands interaction of supply, demand and price Students will review opportunity cost, absolute and comparative advantage and other fundamental principles of economics determinants of supply and demand as well as interpret supply and demand graphs. determinants of supply and demand. Students will interpret supply and demand graphs. supply demand equilibrium gross domestic product gross national product full employment Resources: PH book-chps. 4-6, 12, pgs GT extension: Students will synthesize information: How do prices in the free market lead to efficient resource allocation? Describe an example from your experience.

3 Economics 1 st & 2 nd six weeks Mkt. Structures and Bus. Org. (2 weeks) 16a-d understands types of business ownership 9a-c understands types of market structures Students will describe the characteristics of pure competition, monopolistic competition, and monopoly. Students will explain the characteristics of sole proprietorships, corporations, and partnerships. Students will discuss the advantages and disadvantages of each business organization. sole proprietorship partnership corporation pure competition monopolistic competition oligopoly monopoly Resources: PH books-chps. 7-8 synthesize information: What are the trade-offs between free enterprise and government intervention associated with the United States' antitrust policies? Students will draw conclusions: Suppose you are opening a new business. List three choices that you would need to make to decide what style of business organization to form

4 Economics 2 nd six weeks Monetary Policy (2-3 weeks) 13a-d understands role of Federal Reserve System in establishing monetary policy Students will discuss structure of Federal Reserve and explain the function of financial institutions and how the role has changed over time. Students will analyze the basic tools used to implement monetary policy. Students will analyze basic tools used to implement monetary policy and discuss the impact of monetary policy decisions on the economy. monetary policy Federal Reserve bonds interest rate Resources: PH book-chp. 10, 16, pgs recognize cause and effect: If the Federal Reserve Board were to implement an easy money policy, what actions would it take? What would be the expected results of this policy? What conditions could lead the Fed to take such actions?

5 Economics 2 nd & 3 rd six weeks Fiscal policy (2-3 weeks) 12a-c understands role of money in economy 15a-c understands economic impact of fiscal policy decisions types of taxes at local, state, and national levels and discuss the economic impact of each. Students will analyze basic tools used to implement fiscal policy and discuss the impact of fiscal policy decisions on the economy. types of taxes at local, state, and national levels and discuss the economic impact of each. fiscal policy progressive taxes regressive taxes Resources: PH book- Chps , pgs draw inferences: Make a list of ways in which fiscal policy affects your daily life. Which aspects of fiscal policy have the greatest effect on you? Explain.

6 Economics 3 rd six weeks Personal Finance (1-2 weeks) 17a-d understands role of financial markets/institutions in saving, borrowing, and capital formation 18a-g understands role of individuals in financial markets 19a-dapplies critical thinking skills to analyze costs and benefits of personal financial decisions 20a-c understands how to provide for basic needs while living within a budget Students will discuss personal finance concepts. Students will evaluate impact of stock market credit cards credit score assets liabilities Resources: PH book-ch 11 websites---stock market periodicals Guide to personal financial fitness analyze data: Develop a budget and analyze spending and saving trends based on their personal preferences.

7 Economics 3 rd six weeks Global economy (1-2 weeks) 3a-c understands reasons for international trade and its importance to the US and global economy 4a-c understands issues of free trade and effects of trade barriers Students will distinguish between different types of trade barriers and identify costs and benefits of trade policies. Students will analyze absolute and comparative advantage. trade barriers free trade imports exports Resources: PH book-chps periodicals GT extension: Students will make comparisons: Which do you believe is more important for a nation's development of physical capital or human capital? Why?