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Economics Curriculum Map 2014-15
Economics Curriculum Map 2014-15
Economics Curriculum Map 2014-15
Curriculum Map
Economics
Social Science
Benchmarks
California: Principles of Economics
12.1.1- Examine the causal
relationship between scarcity and the
need for choices.
12.1.2- Explain opportunity cost and
marginal benefit and marginal cost.
12.1.3- Identify the difference
between monetary and nonmonetary
incentives and how changes in
incentives cause changes in behavior.
12.1.4- Evaluate the role of private
property as an incentive in conserving
and improving scarce resources,
including renewable and
nonrenewable natural resources.
12.15- Analyze the role of a market
economy in establishing and
preserving political and personal
liberty (e.g., through the works of
Adam Smith).
12.2.1- Understand the relationship of
the concept of incentives to the law of
supply and the relationship of the
concept of incentives and substitutes
to the law of demand.
12.2.2- Discuss the effects of changes
in supply and/or demand on the
relative scarcity, price, and quantity
of particular products.
12.2.3- Explain the roles of property
rights, competition, and profit in a
market economy.
12.2.4- Explain how prices reflect the
relative scarcity of goods and services
and perform the allocative function in
a market economy.
ESLOs
Strategic Learners
-Identify what we need to know
and make plans to learn
- Manage time well
- Use a variety of resource to learn
- Reflect on own learning and learn
from mistakes
- Use technology to learn, research,
and work
Innovative Thinkers
- Build on the ideas, explanation,
and reasons of others
- Perform critical thinking
- Create original work
- Use technology to create products
of high quality
Articulate Communicators
- Listen for different purposes with
critical understanding
- Speak and respond appropriately
to the social and academic context
- Use reading strategies to read for
different purposes
- Use writing process and strategies
to write for different purposes and
audiences
- Use technology and media to
share and communicate effectively
Evaluation
-Evaluating, judging, ranking
-Appreciating and criticizing
-Forming, expressing, and justifying preferences and
opinions
-Recommending
-Understanding, analyzing, and deciding on goals,
values, policies, and evaluation criteria
Description
-Reporting, identifying, and observing
-Naming
-Comparing or contrasting things
-Describing
Directive
-Attempting to influence the actions of others
(advice/suggestions, requests/ offers, persuasion,
commands, corrections, approval/disapproval)
-Questioning/inquiring
-Giving directions, instructing
Sequence
-Sequencing objects, ideas, or events
-Recounting
-Narrating
-Relaying steps in a process
For
whole.
2. Determine the central ideas or information
of a primary or secondary source; provide an
accurate summary that makes clear the
relationships among the key details and ideas.
3. Evaluate various explanations for actions or
events and determine which explanation best
accords with textual evidence, acknowledging
where the text leaves matters uncertain.
4. Determine the meaning of words and
phrases as they are used in a text, including
analyzing how an author uses and refines the
meaning of a key term over the course of a
text.
5. Analyze in detail how a complex primary
source is structured, including how key
sentences, paragraphs, and larger portions of
the text contribute to the whole.
6. Evaluate authors differing points of view on
the same historical event or issue by assessing
the authors claims, reasoning, and evidence.
7. Integrate and evaluate multiple sources of
information presented in diverse formats and
media (e.g., visually, quantitatively, as well as
in words) in order to address a question or
solve a problem.
8. Evaluate an authors premises, claims, and
evidence by corroborating or challenging them
with other information.
9. Integrate information from diverse sources,
both primary and secondary, into a coherent
understanding of an idea or event, noting
discrepancies among sources.
10. By the end of grade 12, read and
comprehend history/social studies texts in the
grades 1112 text complexity band
independently and proficiently.
Writing:
Curriculum Map
Economics
Social Science
Classification
-Understanding, applying, or developing concepts,
definitions, and classifications
-Using operational definitions
Choice
-Making decisions
-Negotiating and arguing
-Expressing and inquiring about intentions
-Expressing personal opinions
Principles
-Explaining
-Predicting
-Interpreting data, inferring and drawing conclusions
-Formulating, testing, and establishing hypotheses
-Understanding, applying, or developing
generalizations (causes/effects, means/ends, rules,
strategies, results, analysis, synthesis)
-Summarizing
-Paraphrasing
Imaginative
-Solving problems of mysteries
For
1. Write arguments focused on disciplinespecific content.
a. Introduce precise, knowledgeable claim(s),
establish the significance of the claim(s),
distinguish the claim(s) from alternate or
opposing claims, and create an organization
that logically sequences the claim(s),
counterclaims, reasons, and evidence.
b. Develop claim(s) and counterclaims fairly
and thoroughly, supplying the most relevant
data and evidence for each while pointing out
the strengths and limitations of both claim(s)
and counterclaims in a discipline-appropriate
form that anticipates the audiences knowledge
level, concerns, values, and possible biases.
c. Use words, phrases, and clauses as well as
varied syntax to link the major sections of the
text, create cohesion, and clarify the
relationships between claim(s) and reasons,
between reasons and evidence, and between
claim(s) and counterclaims.
d. Establish and maintain a formal style and
objective tone while attending to the norms and
conventions of the discipline in which they are
writing.
e. Provide a concluding statement or section
that follows from or supports the argument
presented.
2. Write informative/explanatory texts,
including the narration of historical events,
scientific procedures / experiments, or
technical processes.
a. Introduce a topic and organize complex
ideas, concepts, and information so that each
new element builds on that which precedes it to
create a unified whole; include formatting
(e.g., headings), graphics (e.g., figures, tables),
and multimedia when useful to aiding
Curriculum Map
Economics
Social Science
For
comprehension.
b. Develop the topic thoroughly by selecting
the most significant and relevant facts,
extended definitions, concrete details,
quotations, or other information and examples
appropriate to the audiences knowledge of the
topic.
c. Use varied transitions and sentence
structures to link the major sections of the text,
create cohesion, and clarify the relationships
among complex ideas and concepts.
d. Use precise language, domain-specific
vocabulary and techniques such as metaphor,
simile, and analogy to manage the complexity
of the topic; convey a knowledgeable stance in
a style that responds to the discipline and
context as well as to the expertise of likely
readers.
e. Provide a concluding statement or section
that follows from and supports the information
or explanation provided (e.g., articulating
implications or the significance of the topic).
3. (See note; not applicable as a separate
requirement)
4. Produce clear and coherent writing in which
the development, organization, and style are
appropriate to task, purpose, and audience.
5. Develop and strengthen writing as needed by
planning, revising, editing, rewriting, or trying
a new approach, focusing on addressing what
is most significant for a specific purpose and
audience.
6. Use technology, including the Internet, to
produce, publish, and update individual or
Curriculum Map
Economics
Social Science
Eastern Hemisphere.
12.6.3- Understand the changing role
of international political borders and
territorial sovereignty in a global
economy.
12.6.4- Explain foreign exchange, the
manner in which exchange rates are
determined, and the effects of the
bahts gaining (or losing) value
relative to other currencies.
Basic Education Core Curriculum
B.E. 2551 (Thailand)
SO3.1.1- Discuss about the fixing of
prices and wages in the economic
system
SO3.1.2- Realize the importance of
the Sufficiency Economy Philosophy
to the socioeconomic system of the
country [Thailand].
SO3.1.3- Realize the importance of
the cooperative system to economic
development at community and
national levels.
SO3.1.4- Analyze economic problems
of the community and propose the
remedial guidelines.
SO3.2.1- Explain governments role
concerning financial and local
policies in national economic
development.
SO3.2.3- Analyze the advantages and
disadvantages of international
economic cooperation in various
forms.
For
Curriculum Map
Economics
Social Science
Understanding by Design:
Step 1: Identify learning outcomes
Step 2: Determine acceptable evidence of learning
Step 3: Plan learning experiences and instruction
Unit Title
Essential
Understanding
Essential Question
Content/Skills
Culminating Assessment
Resources
For
Unit 1:
Economic
Methods and
Theories
4-5 weeks
-What is
economics?
-How does
something acquire
a value?
Curriculum Map
Economics
Social Science
Content:
GDP, demand curves,
diminishing marginal
utility, labor value, wants
vs. needs, scarcity, value,
opportunity cost, rational
choice theory, supply &
demand
Skills:
-observation and
inference from data
-microeconomic
budgeting
-presenting ideas in
compelling writing and
speech
-translating between
mathematical models and
observed economic
phenomena
-create and interpret a
chart
Video Resources:
- Federal Reserve Bank of St.
Louis Economic Education
Video Series Episode 1:
Supply
- Federal Reserve Bank of St.
Louis Economic Education
Video Series Episode 2:
Demand
- Council for Economic
Education Virtual Economics
Video Series: Aggregate
Demand & Aggregate Supply
For
Unit 2: Marketing -That the factors of
production are labor
and Firms
4-5 weeks
forces, natural
resources, capital
resources, and
entrepreneurship
-The principles of
economics in a mixed
market system are free
enterprise, private
property, the profit
motive, consumer
sovereignty, and
competition
-The principles of
economics are ideals
and are not always
found in the market
place.
-How are
economic
resources
distributed?
-How much should
something cost and
who decides?
-What impact does
scarcity have
production and
distribution of
goods and
services?
Curriculum Map
Economics
Social Science
Content:
econometrics, statistical
pitfall, joint stock
companies, public
companies, laissez-faire,
invisible hand, market
functions, diminishing
marginal returns, division
of labor, collusion, cartels,
monopolies, competition,
game theory, Nash
Equilibrium, supply and
demand, free market
stability, factory system,
specialization, economies
of scale, investment,
efficient markets, market
bubbles, market
uncertainty, incentives
Skills:
-logical thought used in
solving problems
-observation and
inference from data
-presenting ideas in
compelling writing and
speech
-econometric forecasting
techniques
-translating between
mathematical models and
observed economic
phenomena
Marketing MUIDS:
Students will extend their understandings of
marketing by developing a marketing
strategy for MUIDS. Students will apply
their knowledge to the creation of a
practical and specific marketing strategy for
MUIDS
Video Resources:
-Federal Reserve Bank of St.
Louis Economic Education
Video Series Episode 3:
Equilibrium
- Council for Economic
Education Virtual Economics
Video Series: Competition and
Market Structure
For
Unit 3:
Banking, Finance,
and Economic
Systems
4-5 weeks
-How do economic
systems affect
your life and the
lives of others?
-How are
economic
resources
distributed?
-What determines
the value of a
stock? What
causes its value to
rise and fall?
Curriculum Map
Economics
Social Science
Content:
Types of money
(commodity & flat),
economies of scale,
diversification of risk,
asset transformation,
derivative contracts,
instability, bank runs,
Marxist economies,
central planning,
capitalism, rates of return
Skills:
-Measure and evaluate the
well-being of the rich,
poor, and in between
-logical thought used in
solving problems
-observation and
inference from data
-presenting ideas in
compelling writing and
speech
Video Resources:
-Council for Economic
Education Virtual Economics
Video Series: Economic
Systems; Financial Markets;
and Saving and Investing
For
Unit 4: Economic -That financial market
can be regulated by the
Policy
4-5 weeks
-Should
government
government in varying
regulate business
styles and degrees.
or be its partner?
-That regulatory
organization restrict and -What goods and
monitor aspects of the
services should
economy.
government
provide? Who
should pay for
them? Who should
benefit from them?
Who should
decide?
Curriculum Map
Economics
Social Science
Content:
Addressing Employment:
Skills:
-logical thought used in
solving problems
-observation and
inference from data
Video Resources:
- Council for Economic
Education Virtual Economics
Video Series: Monetary Policy
and the Federal Reserve; Fiscal
Policy; Employment and
Unemployment
For
Unit 5:
The
Macroeconomy
4-5 weeks
-The consumer,
business, and
government sectors
exercise influence over
each other through the
circular flow.
-That labor adds value
to goods and services at
varying degrees,
influenced by outside
sources.
-How does
something acquire
value?
-Why do people
work? Should
people be expected
to work?
Curriculum Map
Economics
Social Science
Content:
Inflation, real/nominal
price, money flow,
economic cycles,
formation of bubbles,
unemployment,
Keynesian Economics,
government spending,
rational thinking, sticky
wages, housing market
cycles
Skills:
-Measure and evaluate the
well-being of the rich,
poor, and in between
-Econometric forecasting
techniques
-translating between
mathematical models and
observed economic
phenomena
-logical thought used in
solving problems
-observation and
inference from data
-presenting ideas in
compelling writing and
speech
Video Resources:
- Federal Reserve Bank of St.
Louis Economic Education
Video Series Episode 4: The
Labor Market
- Federal Reserve Bank of St.
Louis Economic Education
Video Series Episode 6:
Circular Flow
- Council for Economic
Education Virtual Economics
Video Series: Business cycles;
Inflation; Real vs. Nominal
For
Unit 6:
Society and the
Economy
4-5 weeks
-How do different
economic systems
vary in their
toleration and
encouragement of
change?
-What effect does
the economy have
on society?
Curriculum Map
Economics
Social Science
Content:
Private property, price,
markets, just price,
collective bargaining,
unions, conspicuous
consumption, social class,
waste, religion, values,
economic decisions,
poverty, development,
tradition- culture and its
impact on economy, free
markets, socialism,
neoliberalism, economic
institutions, GDP, national
welfare, Happy Plant
Index (HPI), social
market economy, market
economy, social, physical
capital, human capital,
non-market theory,
Pareto-efficiency, social
choice theory, voting
paradox
Skills:
-Measure and evaluate the
well-being of the rich,
poor, and in between
-logical thought used in
solving problems
-observation and
inference from data
Video Resources:
- Federal Reserve Bank of St.
Louis Economic Education
Video Series Episode 6:
Externalities
- Council for Economic
Education Virtual Economics
Video Series: The Role of
Government
For
Unit 7:
Growth and
Development
4-5 weeks
-Decisions concerning
the allocation and use
of economic resources
impact individuals and
groups.
-
-How are
economic
resources
distributed?
-How much should
it cost and who
decides?
Curriculum Map
Economics
Social Science
Content:
Agricultural economics,
population growth,
Malthusian trap, industrial
economics, massive
capital investments, big
push investing,
convergence &
divergence of living
standards, unbalanced
trading, entitlements,
direct economic policy,
rapid growth, ICT impact,
debt relief, economic
equality, Gross Domestic
Product / Gross National
Product
Skills:
-Measure and evaluate the
well-being of the rich,
poor, and in between
-logical thought used in
solving problems
-observation and
inference from data
-presenting ideas in
compelling writing and
speech
Video Resources:
- Federal Reserve Bank of St.
Louis Economic Education
Video Series Episode 7: Gross
Domestic Product
- Council for Economic
Education Virtual Economics
Video Series: Economic
Development; Economic
Growth; Economic Institutions
For
Unit 8:
The Global
Economy
4-5 weeks
Curriculum Map
Economics
Social Science
Content:
comparative advantage,
trade protection,
economic cooperation,
International Monetary
Fund (IMF), Bretton
Woods System, market
integration, currency
areas, Eurozone crisis,
currency crisis, savings
glut, prisoners dilemma
Skills:
-Measure and evaluate the
well-being of the rich,
poor, and in between
-logical thought used in
solving problems
-observation and
inference from data
-presenting ideas in
compelling writing and
speech
-translating between
mathematical models and
observed economic
phenomena
Video Resources:
- Council for Economic
Education Virtual Economics
Video Series: Trade, Exchange
and Interdependence; Balance
of Trade and Balance of
Payments; Benefits of Trade /
Comparative Advantage