Economics Table of Contents

Transcription

1 117 Economics Table of Contents Course Description Pacing Guide.119 First Nine Weeks Checklist -Know-Understand-Do Tool Box How to read a Benchmark -Know-Understand-Do Guide -Learning Cycle -Word Wall Vocab -Differentiated Instruction Information Second Nine Weeks Checklist Tool Box Word Wall Vocab

2 118 Economics Course Description Course Number: Course Number: Course Title: Economics Course Title: Economics Honors Course Abbreviated Title: ECON Course Abbreviated Title: ECON HON Number of Credits: Half credit (.5) Course Length: Semester Course Level: 2 Graduation Requirements: Economics (EC) General Notes: The grade 9-12 Economics course consists of the following content area strands: Economics and Geography. The primary content emphasis for this course pertains to the study of the concepts and processes of the national and international economic systems. Content should include, but is not limited to, currency, banking, and monetary policy, the fundamental concepts relevant to the major economic systems, the global market and economy, major economic theories and economists, the role and influence of the government and fiscal policies, economic measurements, tools, and methodology, financial and investment markets, and the business cycle. Honors/Advanced courses offer scaffolded learning opportunities for students to develop the critical skills of analysis, synthesis, and evaluation in a more rigorous and reflective academic setting. Students are empowered to perform at higher levels as they engage in the following: analyzing historical documents and supplementary readings, working in the context of thematically categorized information, becoming proficient in note-taking, participating in Socratic seminars/discussions, emphasizing free-response and document-based writing, contrasting opposing viewpoints, solving problems, contrasting analysis of high complexity texts (CIS), etc. Students will develop and demonstrate their skills through participation in a capstone and/or extended research-based paper/project (e.g., history fair, participatory citizenship project, mock congressional hearing, Supreme Court simulations, projects for competitive evaluation, investment portfolio contests or other teacher-directed projects).

3 119 Economics Pacing Guide First Nine Weeks Unit One: Introduction to Economics Chapters 1, 2, 3, 8 Unit Two: How Markets Work Chapters 4, 5, 6, 7 Unit Three: Money, Banking and Finance Chapters 10, 11 Second Nine Weeks Unit Four: Measuring Economic Performance Chapter 9, 12, 13 Unit Five: Government and the Economy Chapters 14, 15, 16 Unit Six: The Global Economy Chapters 17, 18 Semester Exams A New Direction for Economics

4 120 Economics First Nine Weeks Unit 1: Introduction to Economics (15 day) Chapter 1: What is Economics Chapter 2: Economic System Chapter 3: American Free Enterprise System Chapter 8: Business Organization Unit 2: How Markets Work (20 days) Chapter 4: Demand Chapter 5: Supply Chapter 6: Prices Chapter 7: Market Structures Unit 3: Money, Banking, and Finance (10 days) Chapter 10: Market and Banking Chapter 11: Financial Markets and Electronic Banking Second Nine Weeks Unit 4: Measuring Economic Performance (15 days) Chapter 9: Labor Chapter 11: Gross Domestic Product and Growth Chapter 12: Economic Challenges Unit 5: Government and the Economy (15 days) Chapter 14: Taxes and Government Spending Chapter 15: Fiscal Policy Chapter 16: The Federal reserve and Monetary Supply Unit 6: Florida State and Local Government (10 days) Chapter 17: International Trade Chapter 18: Development and Organization Exams (5 days)

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6 122 Brevard Public Schools Social Studies Curriculum Guide 2012 Subject: ECON Textbook: Prentice Hall: Economics Essential Questions Content Next Generation Sunshine State Unit 1: Introduction to Economics (15 days) Chapters 1, 2, 3, 8 Why is it necessary to make economic choices? How does a society decide who gets which goods and services? What role should government play in a free market society? Why do some businesses succeed and others fail? How can different types of media influence economic choices? Scarcity and the factors of production Opportunity cost Production possibilities curve The basic economic questions Types of economies The advantages and disadvantages of free enterprise Public vs. private goods The three types of business organizations and nonprofit organizations SS.912.E.1.1: Identify the factors of production and why they are necessary for the production of goods and services. SS.912.E.1.2: Analyze production possibilities curves to explain choice, scarcity, and opportunity costs. SS.912.E.1.3: Compare how the various economic systems (traditional, market, command, mixed) answer the questions: (1) What to produce? (2) How to produce? and (3) For whom to produce? SS.912.E.1.5: Compare different forms of business organizations. SS.912.E.1.7: Graph and explain how firms determine price and output through marginal cost analysis. SS.912.E.1.9: Describe how the earnings of workers are determined. SS.912.E.1.10: Explain the use of fiscal policy (taxation, spending) to promote price stability, full employment, and economic growth. SS.912.E.1.12: Examine the four phases of the business cycle (peak, contraction - unemployment, trough, expansion - inflation). SS.912.E.1.14: Compare credit, savings, and investment services available to the consumer from financial institutions. SS.912.E.1.15: Describe the risk and return profiles of various investment vehicles and the importance of diversification. SS.912.E.1.16: Construct a one-year budget plan for a specific career path including expenses and construction of a credit plan for purchasing a major item. SS.912.E.2.1: Identify and explain broad economic goals. SS.912.E.2.2: Use a decision-making model to analyze a public policy issue affecting the student's community that incorporates defining a problem, analyzing the potential consequences, and considering the alternatives. SS.912.E.2.3: Research contributions of entrepreneurs, inventors, and other key individuals from various gender, social, and ethnic backgrounds in the development of the United States. SS.912.E.2.4: Diagram and explain the problems that occur when government institutes wage and price controls, and explain the rationale for these controls. SS.912.E.2.11: Assess the economic impact of negative and positive externalities on the local, state, and national environment. SS.912.E.3.5: Compare the current United States economy with other developed and developing nations. SS.912.E.3.6: Differentiate and draw conclusions about historical economic thought theorized by economists. SS.912.G.4.4: Use geographic terms and tools to analyze case studies of issues in globalization. Instruction Assessment

7 123 Common Core LACC.1112.RH.2.4: 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 (e.g., how Madison defines faction in Federalist No. 10). LACC.1112.RH.3.7: 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. LACC.1112.WHST.2.5: 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. MA.912.F.3.9: Calculate the total amount to be paid over the life of a fixed rate loan. MA.912.F.4.5: Develop and apply a variety of strategies to use tax tables, and to determine, calculate, and complete yearly federal income tax. MA.912.F.4.6: Compare different insurance options and fees.

8 124 Economics Content/Literacy Unit 1: Chapters 1, 2, 3, 8 Course: Economics Grades: Standard(s) being addressed: SS.912.E.1.1 SS.912.E.1.5 SS.912.E.3.6 LACC.1112.RH.3.7 SS.912.E.1.2 SS.912.E.1.15 LACC.1112.RH.3.9 SS.912.E.1.3 SS.912.E.2.4 LACC.1112.WHST.3.9 Essential Questions: Why is it necessary to make economic choices? How does a society decide who gets which goods and services? What role should government play in a free market society? Why do some businesses succeed and others fail? How can different types of media influence economic choices? Understand Students will understand: Scarcity is the driving force behind economic decision making. Answers to the basic economic questions dictate the type of society that exists and how that society utilizes its productive resources. How free market principles of profit, private property, voluntary exchange, consumerism, and competition affect a market society and how complexities emerge when the government intervenes. Similarities and differences that exist between proprietorships, partnerships, and corporations and how these contribute to their success or failure. The role media plays in consumer decisions. Know Students will know: That due to the limitations of resources; consumers, businesses, and governments must make choices Brevard regarding Public what Schools to produce, how to produce, and for whom to produce? The characteristics of the three modern economic systems The role of the government in a free market economy The characteristics, advantages and disadvantages of the three types of business organizations Do Students will be able to: Describe the role scarcity plays in the economic decision making process Graph the production possibilities curve Compare and critique the three modern economic systems. Predict what the opportunity cost will be after determining a trade off Discuss the causes and effects of opportunity cost when confronted with a trade off List, discuss, and make observations about the role of government in a free market society Categorize the different types of business organizations and construct a chart showing these differences

9 125 Brevard Public Schools Social Studies Curriculum Guide 2012 Subject: ECON Textbook: Prentice Hall: Economics Essential Questions Content Next Generation Sunshine State Unit 2: How Markets Work (20 days) Chapters 4, 5, 6, 7 How do consumers decide what to buy? How do suppliers decide what goods and services to offer? How do suppliers know what to charge for their goods and services? How does competition affect what is produced and what is consumed? Demand Supply Elasticity Curves and Schedules Price Market structures Competition SS.912.E.1.1: Identify the factors of production and why they are necessary for the production of goods and services. SS.912.E.1.2: Analyze production possibilities curves to explain choice, scarcity, and opportunity costs. SS.912.E.1.4: Define supply, demand, quantity supplied, and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place. SS.912.E.1.6: Compare the basic characteristics of the four market structures (monopoly, oligopoly, monopolistic competition, pure competition). SS.912.E.1.7: Graph and explain how firms determine price and output through marginal cost analysis. SS.912.E.1.8: Explain ways firms engage in price and non price competition. SS.912.E.1.9: Describe how the earnings of workers are determined. SS.912.E.2.3: Research contributions of entrepreneurs, inventors, and other key individuals from various gender, social, and ethnic backgrounds in the development of the United States. SS.912.E.2.4: Diagram and explain the problems that occur when government institutes wage and price controls, and explain the rationale for these controls. SS.912.E.2.6: Examine the benefits of natural monopolies and the purposes of government regulation of these monopolies. SS.912.E.2.7: Identify the impact of inflation on society. SS.912.E.3.6: Differentiate and draw conclusions about historical economic thought theorized by economists. Instruction Assessment

10 126 Common Core LACC.1112.RH.2.4: 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 (e.g., how Madison defines faction in Federalist No. 10). LACC.1112.RH.3.7: 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. LACC.1112.RH.3.8: Evaluate an author s premises, claims, and evidence by corroborating or challenging them with other information. LACC.1112.WHST.3.9: Draw evidence from informational texts to support analysis, reflection, and research. MA.912.F.3.6: Calculate total cost of purchasing consumer durables over time given different down payments, financing options, and fees.

11 127 Brevard Public Schools Social Studies Curriculum Guide 2012 Subject: ECON Textbook: Prentice Hall: Economics Essential Questions Content Next Generation Sunshine State Common Core Unit 3: Money, Banking and Finance (10 days) Chapters 10, 11 How well do financial institutions serve individual needs? How does an individual's savings and investment choices affect their future? Money History of American Banking Banking today Savings and investing Financial markets Stock market SS.912.E.1.13: Explain the basic functions and characteristics of money, and describe the composition of the money supply in the United States. SS.912.E.1.14: Compare credit, savings, and investment services available to the consumer from financial institutions. SS.912.E.1.15: Describe the risk and return profiles of various investment vehicles and the importance of diversification. SS.912.E.2.3: Research contributions of entrepreneurs, inventors, and other key individuals from various gender, social, and ethnic backgrounds in the development of the United States. SS.912.E.2.5: Analyze how capital investments may impact productivity and economic growth. SS.912.E.2.7: Identify the impact of inflation on society. SS.912.E.2.10: Describe the organization and functions of the Federal Reserve System. SS.912.E.3.6: Differentiate and draw conclusions about historical economic thought theorized by economists. LACC.1112.RH.2.4: 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 (e.g., how Madison defines faction in Federalist No. 10). LACC.1112.WHST.1.2: Write informative/explanatory texts, including the narration of historical events, scientific procedures/ experiments, or technical processes. LACC.1112.WHST.2.6: Use technology, including the Internet, to produce, publish, and update individual or shared writing products in response to ongoing feedback, including new arguments or information. MA.912.F.1.1: Explain the difference between simple and compound interest. MA.912.F.3.2: Analyze credit scores and reports. MA.912.F.3.14: Compare the total cost for a set purchase price using a fixed rate, adjustable rate, and a balloon mortgage. MA.912.F.4.1: Develop personal budgets that fit within various income brackets. MA.912.F.4.3: Calculate net worth. MA.912.F.4.4: Establish a plan to pay off debt. MA.912.F.4.8: Collect, organize, and interpret data to determine an effective retirement savings plan to meet personal financial goals. MA.912.F.4.9: Calculate, compare, and contrast different types of retirement plans, including IRAs, ROTH accounts, and annuities. MA.912.F.4.10: Analyze diversification in investments. MA.912.F.4.11: Purchase stock with a set amount of money, and follow the process through gains, losses, and selling. Instruction Assessment

12 128 Tool Box Important information and resources can be found here. How to Read the Benchmark Benchmark Classification System Each benchmark in the is labeled with a system of numbers and letters. The two letters in the first position of the code identify the Subject Area (e.g., SS for social studies). The number in the second position represents the Grade Level to which the benchmark belongs. The letter in the third position represents the Strand to which the benchmark belongs (e.g., A represents American History, G represents Geography, E represents Economics, W represents World History, C represents Civics and Government, and H represents Humanities). The number in the fourth position represents the Standard. Standard 1: Demonstrate an understanding of the origins and purposes of government, law, and the American political system. The number in the last position of the code identifies the specific Benchmark under the Standard Subject Area Social Studies SS.7.C.1.1 Benchmark Recognize how Enlightenment ideas including Montesquieu s view of separation of powers and John Locke s theories related to natural law and how Locke s social contract influenced the Founding Fathers. Grade Level 7 Strand Civics Standard Demonstrate an understanding of the origins and purposes of government, law, and the American political system. Grade 7 Strand C Civics Standard 1 Demonstrate an understanding of the origins and purposes of government, law, and the American political system. SS.7.C.1.1 Recognize how Enlightenment ideas including Montesquieu s view of separation of powers and John Locke s theories related to natural law and how Locke s social contract influenced the Founding Fathers.

13 129 Creating a KUD: Unpacking a Unit 1st Course: NOTES: Standard(s) being addressed: Grade: Teachers can create Know, Understand and Do statements (K-U-D) at the standard, lesson or unit level. The degree of detail of the K-U-D is based on the scope of the selected activity (unpacking a standard, creating a lesson or creating a unit). Creating K-U-D statements assist teachers with establishing clear learning goals which drive instruction and assessments (both formative and summative). When creating a K-U-D, follow the order indicated below: are used as the basis of instruction and chosen standards should originate in the course description. These standards should be chosen to reflect a particular unit of study. Essential Questions: Essential questions are used to hook students interests and stimulate conversation. These questions should be universal and able to be discussed without necessarily having background knowledge of the topic. 2nd Understand Understand statements are the essential truths of the discipline. The struggle for Civil Rights is shaped by the society in which people live is an understand statement vs. The Arab Spring is a form of the struggle for Civil Rights is a fact demonstrating that statement. These statements organize knowledge in way that assists students in applying that knowledge to the world around them. Understand statements may be revisited throughout multiple lessons in order to reinforce the essential truths. Know Do 3rd Know statements are lists of facts and basic information. This information is taught during the lesson(s) and ties back to the standards. Students must know this information in order to understand, make connections and apply the knowledge of the discipline. Do statements are the expression of the students' understanding While students may know the facts, they must be able to demonstrate their knowledge. Do statements begin with a verb. This verb can be changed to increase cognitive complexity. (Bloom s Taxonomy/Webb s Depth of Knowledge) 4th

14 130 Learning Cycle Economics Chapter 1, Lesson 1 Big Idea/Standard/Benchmark: How scarcity and shortage force people to make economic decisions? SS.912.E.1.1 & SS.912.E1.2 4) Independent Practice/ Sharing Teacher could Create a scenario in which a group of travelers are stranded in the desert after an airplane crash; 4 people survived the crash. Each traveler has only his clothing. Each group will receive a list of 15 items not destroyed in the crash. The students will determine how to best survive until they are rescued. Student could Divide into groups of four; each group will prioritize the items from 1-15 (most to least important) and explain their rationale. 3) Guided Practice Teacher could Use the whiteboard to show an example of limited resources, unlimited wants, needs and wants. Student could Construct a chart with limited resources, unlimited wants, wants, and needs as the headings and write 5 examples under each heading. The examples for wants and needs must correlate. (For example: food is a need; pizza is a want that expresses the need for food.) Make a priority list of material possessions they would like to have by age 30. 1) Hook & Engage Teacher could ask How did scarcity affect the decisions Mark Zuckerberg made in founding Facebook? And Show students a non identified list of wants and needs. Student could Make a weekly chart of the time they spend on Facebook, sleeping, in school, etc. 2) Modeling Teacher could Draw a line on whiteboard with the word need on the left and want on the right and then model how the students list should look. Student could Fill in the above chart complete Essesntial Qs Journal, p.5 Formative Assessment- Observation based on student input, needs and wants chart, Essential Qs Journal, p. 5 Possession Priority List

15 131 Word Wall Vocabulary Chapter 1 What is Economics? Factors of production Scarcity Entrepreneur Needs Wants Goods Services Resources Opportunity cost Trade-offs Efficiency Production possibilities Thinking at the margin Unit 1: Introduction to Economics Chapter 2 Chapter 3 Economic Systems American Free Economic systems Market economy Command economy Mixed economy Free enterprise Macroeconomics Microeconomics Enterprise System Public sector Private sector Infrastructure Market failure Poverty threshold Chapter 8 Business Organizations Business organizations Sole Proprietorship Partnership Corporation Merger Non profit Franchise Chapter 4 Demand Law of demand Elasticity Market demand Demand schedule Demand curve Unit 2: How Markets Work Chapter 5 Chapter 6 Supply Prices Law of supply Shortage Market supply Surplus Supply schedule Equilibrium Supply curve Wage and price Costs control Marginal Revenue Chapter 7 Market Structures Monopoly Oligopoly Monopolistic competition Perfect competition Cartel Deregulation Economies of scale Unit 3: Money, Banking, and Finance Chapter 10 Chapter 11 Money and Banking Financial Markets Electronic banking Functions of money Capital Characteristics of money Saving Representative money Investing Financial intermediary Risk Liquidity Securities Money supply Stock exchange Bull market Bear market

16 132 Economics Differentiated Instruction Suggestions from Prentice Hall Economics Teacher Edition Some Samples from Unit 1: Chapter 1and 2 L3 All Students Follow B.E.S.T Learning Cycle Planning Tool How Scarcity and Shortage force people to make economic decisions Collect the Mark Zuckerberg, CEO of Facebook worksheet and assess student understanding of the role of entrepreneurs. L1 L2 (ELL) English Language Learners Special Needs Students To help students who agree struggling readers, assign the Vocabulary worksheet (Unit1 All-in-One, p. 12) Pair English learners with language proficient students to answer the questions on the worksheet. L4 Advanced Students Have students write a paragraph explaining who they think took the bigger risk Zuckerberg or the venture capitalist who agreed to fund his startup efforts. Tell them to give reasons to support their responses. Assign the factors of Production in the Global Economy worksheet (Unit 1 All-in-One, p. 17). Discuss the questions with the students, having them focus on how the global economy changes the availability of different factors of production.

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18 134 Brevard Public Schools Social Studies Curriculum Guide 2012 Subject: ECON Textbook: Prentice Hall: Economics Essential Questions Content Next Generation Sunshine State Unit 4: Measuring Economic Performance (15 days) Chapters 9, 12, 13 How can workers best meet the challenges of a changing economy? How do we know if the economy is healthy? What actions are necessary to reduce unemployment, inflation, and poverty? Labor market Changing role of labor Wages and benefits Gross Domestic Product Economic growth Business cycle Unemployment and inflation SS.912.E.1.9: Describe how the earnings of workers are determined. SS.912.E.1.12: Examine the four phases of the business cycle (peak, contraction - unemployment, trough, expansion - inflation). SS.912.E.2.1: Identify and explain broad economic goals. SS.912.E.2.2: Use a decision-making model to analyze a public policy issue affecting the student's community that incorporates defining a problem, analyzing the potential consequences, and considering the alternatives. SS.912.E.2.3: Research contributions of entrepreneurs, inventors, and other key individuals from various gender, social, and ethnic backgrounds in the development of the United States. SS.912.E.2.4: Diagram and explain the problems that occur when government institutes wage and price controls, and explain the rationale for these controls. SS.912.E.2.5: Analyze how capital investments may impact productivity and economic growth. SS.912.E.2.7: Identify the impact of inflation on society. SS.912.E.2.11: Assess the economic impact of negative and positive externalities on the local, state, and national environment. SS.912.E.3.1: Demonstrate the impact of inflation on world economies. SS.912.E.3.4: Assess the economic impact of negative and positive externalities on the international environment. SS.912.E.3.6: Differentiate and draw conclusions about historical economic thought theorized by economists. SS.912.G.2.2: Describe the factors and processes that contribute to the differences between developing and developed regions of the world. SS.912.G.4.4: Use geographic terms and tools to analyze case studies of issues in globalization. Instruction Assessment

19 135 Common Core LACC.1112.RH.2.4: 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 (e.g., how Madison defines faction in Federalist No. 10). LACC.1112.RH.3.7: 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. LACC.1112.WHST.1.2: Write informative/explanatory texts, including the narration of historical events, scientific procedures/ experiments, or technical processes. LACC.1112.WHST.3.9: Draw evidence from informational texts to support analysis, reflection, and research. MA.912.F.4.5: Develop and apply a variety of strategies to use tax tables, and to determine, calculate, and complete yearly federal income tax. MA.912.F.4.10: Analyze diversification in investments.

20 136 Brevard Public Schools Social Studies Curriculum Guide 2012 Subject: ECON Textbook: Prentice Hall: Economics Essential Questions Content Next Generation Sunshine State Unit 5: Government and the Economy (15 days) Chapters 14, 15, 16 How can taxation meet the needs of government and the people? How effective is fiscal policy as an economic tool? How effective is monetary policy as an economic tool? Taxes Government spending State/local budget Fiscal policy Federal Reserve System Monetary policy SS.912.E.1.10: Explain the use of fiscal policy (taxation, spending) to promote price stability, full employment, and economic growth. SS.912.E.1.11: Explain how the Federal Reserve uses the tools of monetary policy (discount rate, reserve requirement, open market operations) to promote price stability, full employment, and economic growth. SS.912.E.1.12: Examine the four phases of the business cycle (peak, contraction - unemployment, trough, expansion - inflation). SS.912.E.1.13: Explain the basic functions and characteristics of money, and describe the composition of the money supply in the United States. SS.912.E.2.1: Identify and explain broad economic goals. SS.912.E.2.2: Use a decision-making model to analyze a public policy issue affecting the student's community that incorporates defining a problem, analyzing the potential consequences, and considering the alternatives. SS.912.E.2.3: Research contributions of entrepreneurs, inventors, and other key individuals from various gender, social, and ethnic backgrounds in the development of the United States. SS.912.E.2.8: Differentiate between direct and indirect taxes, and describe the progressivity of taxes (progressive, proportional, regressive). SS.912.E.2.9: Analyze how changes in federal spending and taxation affect budget deficits and surpluses and the national debt. SS.912.E.2.10: Describe the organization and functions of the Federal Reserve System. SS.912.E.3.1: Demonstrate the impact of inflation on world economies. SS.912.E.3.5: Compare the current United States economy with other developed and developing nations. SS.912.E.3.6: Differentiate and draw conclusions about historical economic thought theorized by economists. Instruction Assessment

21 137 Common Core LACC.1112.RH.2.4: 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 (e.g., how Madison defines faction in Federalist No. 10). LACC.1112.RH.3.8: Evaluate an author s premises, claims, and evidence by corroborating or challenging them with other information. LACC.1112.WHST.3.8: Gather relevant information from multiple authoritative print and digital sources, using advanced searches effectively; assess the strengths and limitations of each source in terms of the specific task, purpose, and audience; integrate information into the text selectively to maintain the flow of ideas, avoiding plagiarism and overreliance on any one source and following a standard format for citation. MA.912.F.4.13: Given current exchange rates be able to convert from one form of currency to another. MA.912.F.4.14: Use data to compare historical rates of return on investments with investment claims to make informed decisions and identify potential fraud.

22 138 Brevard Public Schools Social Studies Curriculum Guide 2012 Subject: ECON Textbook: Prentice Hall: Economics Essential Questions Content Next Generation Sunshine State Unit 6: The Global Economy (10 days) Chapters 17, 18 Should free trade be encouraged? Do the benefits of economic development outweigh the costs? International trade Import/Export Trade organizations Development of nations Transitional economies Globalization SS.912.E.1.13: Explain the basic functions and characteristics of money, and describe the composition of the money supply in the United States. SS.912.E.2.1: Identify and explain broad economic goals. SS.912.E.2.3: Research contributions of entrepreneurs, inventors, and other key individuals from various gender, social, and ethnic backgrounds in the development of the United States. SS.912.E.2.12: Construct a circular flow diagram for an openmarket economy including elements of households, firms, government, financial institutions, product and factor markets, and international trade. SS.912.E.3.1: Demonstrate the impact of inflation on world economies. SS.912.E.3.2: Examine absolute and comparative advantage, and explain why most trade occurs because of comparative advantage. SS.912.E.3.3: Discuss the effect of barriers to trade and why nations sometimes erect barriers to trade or establish free trade zones. SS.912.E.3.4: Assess the economic impact of negative and positive externalities on the international environment. SS.912.E.3.5: Compare the current United States economy with other developed and developing nations. SS.912.G.2.2: Describe the factors and processes that contribute to the differences between developing and developed regions of the world. SS.912.G.3.3: Use geographic terms and tools to explain differing perspectives on the use of renewable and nonrenewable resources in Florida, the United States, and the world. SS.912.G.4.4: Use geographic terms and tools to analyze case studies of issues in globalization. Instruction Assessment

23 139 Common Core LACC.1112.RH.2.4: 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 (e.g., how Madison defines faction in Federalist No. 10). LACC.1112.RH.3.9: Integrate information from diverse sources, both primary and secondary, into a coherent understanding of an idea or event, noting discrepancies among sources. LACC.1112.WHST.3.8: Gather relevant information from multiple authoritative print and digital sources, using advanced searches effectively; assess the strengths and limitations of each source in terms of the specific task, purpose, and audience; integrate information into the text selectively to maintain the flow of ideas, avoiding plagiarism and overreliance on any one source and following a standard format for citation. LACC.1112.WHST.3.9: Draw evidence from informational texts to support analysis, reflection, and research. MA.912.F.4.13: Given current exchange rates be able to convert from one form of currency to another.