Greater Clark County Schools PACING GUIDE United States Economics 2014-2015 G R E A T E R C L A R K C O U N T Y S C H O O L S
ANNUAL PACING GUIDE
ONGOING CONTENT AREA LITERACY STANDARDS 2014-2015 Standards Learning 11-12.LH.1.1: Read and comprehend history/social studies texts within a range of complexity appropriate for Outcomes grades 11 CCR independently and proficiently by the end of grade 12. 11-12.LH.1.2: Write routinely over a variety of time frames for a range of discipline-specific tasks, purposes, and Key Ideas and Textual Support Structural Elements and Organization Synthesis and Connection of Ideas Writing Genres Writing Process Research Process audiences. 11-12.LH.2.1: Cite specific textual evidence to support analysis of primary and secondary sources, connecting insights gained from specific details to an understanding of the text as a whole. 11-12.LH.2.2: 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. 11-12.LH.2.3: Evaluate various explanations for actions or events, and determine which explanation best accords with textual evidence, acknowledging where the text leaves matters uncertain. 11-12.LH.3.1: 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). 11-12.LH.3.2: 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. 11-12.LH.3.3: Evaluate authors differing perspectives on the same historical event or issue by assessing the authors claims, reasoning, and evidence. 11-12.LH.4.1: 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. 11-12.LH.4.2: Evaluate an author s premises, claims, and evidence by corroborating or challenging them. 11-12.LH.4.3: Integrate information from diverse sources, both primary and secondary, into a coherent understanding of an idea or event, noting discrepancies among sources. 11-12.LH.5.1: Write arguments focused on discipline-specific content. 11-12.LH.5.2: Write informative texts, including analyses of historical events. 11-12.LH.6.1: Plan and develop; draft; revise using appropriate reference materials; rewrite; try a new approach, focusing on addressing what is most significant for a specific purpose and audience; and edit to produce and strengthen writing that is clear and coherent. 11-12.LH.6.2: Use technology to produce, publish and update individual or shared writing products in response to ongoing feedback, including new arguments or information. 11-12.LH.7.1: Conduct short as well as more sustained research assignments and tasks to answer a question (including a self-generated question) or solve a problem; narrow or broaden the inquiry when appropriate; synthesize multiple sources on the subject, demonstrating understanding of the subject under investigation. 11-12.LH.7.2: Gather relevant information from multiple authoritative sources, using advanced searches effectively; annotate sources; assess the usefulness of each source in answering the research question; synthesize and integrate information into the text selectivity to maintain the flow of ideas, avoiding plagiarism and following a standard format for citation (e.g., APA or Chicago). 11-12.LH.7.3: Draw evidence from informational texts to support analysis, reflection, and research.
Routines Quarter 1 / Quarter 3 DSSR Study (List specific word parts here) Daily Social Studies Review Template Monday Tuesday Wednesday Thursday Assessment:
Goal Clarity Windows Q1 / Q3 LC1 Learning Check 1 Standard Standard 1: Scarcity and Economic Reasoning Students will understand that productive resources are limited; therefore, people, institutions and governments cannot have all the goods and services they want. As a result, people, institutions and governments must choose some things and give up others. SS.E.1.1 2007 Define each of the productive resources (natural, human, capital) and explain why they are necessary for the production of goods and services. SS.E.1.2 2007 Explain how consumers and producers confront the condition of scarcity by making choices which involve opportunity costs and tradeoffs. SS.E.1.3 2007 Explain the important role of the entrepreneur in taking the risk to combine productive resources to produce goods and services. SS.E.1.4 2007 Describe how people respond predictably to positive and negative incentives. SS.E.1.5 2007 Explain that voluntary exchange occurs when all participating parties expect to gain. SS.E.1.6 2007 Compare and contrast how the various economic systems (traditional, market, command, mixed) answer the questions: What to produce? How to produce it? For whom to produce?. SS.E.1.7 2007 Describe how clearly defined and enforced property rights are essential to a market economy. SS.E.1.8 2007 Use a production possibilities curve to explain the concepts of choice, scarcity, opportunity cost, tradeoffs, unemployment, productivity and growth. SS.E.1.9 2007 Explain a Circular Flow Model of a market economy, showing households and businesses as decision makers, resource and money flows, and the three basic markets - product, productive resources and financial markets. Goods, services, scarcity, economics, shortage, entrepreneur, factors of production, physical capital, human capital, Trade-off, opportunity cost, thinking at the margin, marginal cost, marginal benefit, production possibilities graph, underutilization, safety net, standard of living, traditional economy, Specialization, free market economy, factor market, product market, self-interest, competition, invisible hand, consumer sovereignty, command economy, socialism, communism, Laissezfaire, private property, mixed economy, free enterprise, voluntary exchange, interest group, eminent domain, public good, private sector, free rider, market failure, externality WALT/WILT Resources
Learning and Assessment Rubric DOK 1 DOK 2 DOK 3 DOK 4
Goal Clarity Windows Q1 / Q3 LC2 Learning Check 2 Standard Standard 2: Supply and Demand Students will understand the role that supply and demand, prices, and profits play in determining production and distribution in a market economy. SS.E.2.1 2007 Define supply and demand. SS.E.2.2 2007 Identify factors that cause changes in market supply and demand. SS.E.2.3 2007 Describe the role of buyers and sellers in determining the equilibrium price. SS.E.2.4 2007 Describe how prices send signals to buyers and sellers. SS.E.2.5 2007 Recognize that consumers ultimately determine what is produced in a market economy (consumer sovereignty). SS.E.2.6 2007 Demonstrate how supply and demand determine equilibrium price and quantity in the product, resource and financial markets. SS.E.2.7 2007 Demonstrate how changes in supply and demand influence equilibrium price and quantity in the product, resource, and financial markets. SS.E.2.8 2007 Describe how the earnings of workers are determined by the market value of the product produced and workers' productivity. SS.E.2.9 2007 Demonstrate how government wage and price controls, such as rent controls and minimum wage laws, create shortages and surpluses. SS.E.2.10 2007 Use concepts of price elasticity of demand and supply to explain and predict changes in quantity as price changes. SS.E.2.11 2007 Investment in factories; machinery; new technology; and the health, education and training of people increases productivity and raises future standards of living. demand, law of demand, substitution effect, income effect, normal good, inferior good, complements, substitutes, elasticity of demand, inelastic, elastic, unitary elastic, total revenue, supply, law of supply, variable, supply curve, elasticity of supply, marginal product of labor, fixed cost, variable cost, total cost, marginal cost, marginal revenue, subsidy, excise tax, regulation, equilibrium, shortage, surplus, price ceiling, rent control, price floor, black market WALT/WILT Resources
Learning and Assessment Rubric DOK 1 DOK 2 DOK 3 DOK 4
Goal Clarity Windows Q1 / Q3 LC3 Learning Check Standard 3 Standard 3: Market Structures Students will understand the organization and role of business firms and analyze the various types of market structures in the United States economy. SS.E.3.1 2007 Compare and contrast the following forms of business organization: sole proprietorship, partnership and corporation. SS.E.3.2 2007 Identify the three basic ways that firms finance operations (retained earnings, stock issues and borrowing) and explain the advantages and disadvantages of each. SS.E.3.3 2007 Recognize that economic institutions, such as labor unions, nonprofit organizations and cooperatives, evolve in market economies to help members and clients accomplish their goals. SS.E.3.4 2007 Identify the basic characteristics of the four market structures: monopoly, oligopoly, monopolistic competition and pure competition. perfect competition, commodity, startup costs, monopoly, economies of scale, natural monopoly, government monopoly, patent, franchise, monopolistic competition, oligopoly, collusion, anti-trust laws, deregulation, sole proprietorship, liability, partnership, general partnership, limited partnership, business franchise, corporation, stock, dividend, limited liability, horizontal merger, vertical merger, conglomerate, cooperative, consumer cooperative, nonprofit organization SS.E.3.5 2007 Explain how competition among many sellers lowers costs and prices. SS.E.3.6 2007 Demonstrate how firms determine price and output through marginal analysis. SS.E.3.7 2007 Explain ways that firms engage in price and non-price competition. SS.E.3.8 2007 Identify laws and regulations adopted in the United States to promote competition among firms. SS.E.3.9 2007 Explain the function of profit in a market economy as an incentive for entrepreneurs to accept the risks of business failure. SS.E.3.10 2007 Describe the benefits of natural monopolies (economies of scale) and the purposes of government regulation of these monopolies, such as utilities. SS.E.3.11 2007 Explain how cartels affect product price and output. WALT/WILT Resources
Learning and Assessment Rubric DOK 1 DOK 2 DOK 3 DOK 4
Goal Clarity Windows Q1 / Q3 LC4 Learning Check 4 Standard Standard: The Role of Government Students will understand that typical microeconomic roles of government in a market or mixed economy are the provision of public goods and services, redistribution of income, protection of property rights, and resolution of market failures. SS.E.4.1 2007 Explain the basic functions of government in a market economy. SS.E.4.2 2007 Explain how markets produce too few public goods and how the government determines the amount to produce through looking at benefits and costs. SS.E.4.3 2007 Describe how the government taxing harmful spillovers and subsidizing helpful spillovers helps to resolve the inefficiency they cause. SS.E.4.4 2007 Describe major revenue and expenditure categories and their respective proportions of local, state and federal budgets. SS.E.4.5 2007 Explore the ways that tax revenue is used in the community. SS.E.4.6 2007 Identify taxes paid by students. SS.E.4.7 2007 Define progressive, proportional and regressive taxation. SS.E.4.8 2007 Determine whether different types of taxes (including income, sales and social security) are progressive, proportional or regressive. SS.E.4.9 2007 Describe how costs of government policies may exceed benefits, because social or political goals other than economic efficiency are being pursued. SS.E.4.10 2007 Use an economic decision-making model to analyze a public policy issue. tax, revenue, progressive tax, proportional tax, regressive tax, tax base, individual income tax, corporate income tax, property tax, sales tax, incidence of tax, Withholding, tax return, taxable income, personal exemption, tax deduction, tax credit, estate tax, gift tax, tariff, tax incentive, mandatory spending, discretionary spending, entitlement, budget, operating budget, capital budget, balanced budget, tax exempt, real property, personal property, tax assessor WALT/WILT Resources
Learning and Assessment Rubric DOK 1 DOK 2 DOK 3 DOK 4
Quarter 2 / Quarter 4 Routines DSSR Study (List specific word parts here) Daily Social Studies Review Template Monday Tuesday Wednesday Thursday Assessment:
Goal Clarity Windows Q2 / Q4 LC1 Learning Check 1 Standard Standard: National Economic Performance SS.E.5.1 2007 Define aggregate supply and demand, Gross Domestic Product (GDP), economic growth, unemployment, and inflation. SS.E.5.2 2007 Explain how GDP, economic growth, unemployment and inflation are measured. SS.E.5.3 2007 Explain the limitations of using GDP to measure economic welfare. SS.E.5.4 2007 Explain the four phases of the business cycle (contraction, trough, expansion and peak). SS.E.5.5 2007 Analyze the impact of events in United States history, such as wars and technological developments, on business cycles. SS.E.5.6 2007 Identify the different causes of inflation and explain who gains and loses because of inflation. SS.E.5.7 2007 Analyze the impact of inflation on students' economic decisions. SS.E.5.8 2007 Illustrate and explain cost-push and demand-pull inflation. SS.E.5.9 2007 Recognize that a country's overall level of income, employment and prices are determined by the individual spending and production decisions of households, firms and government. SS.E.5.10 2007 Illustrate and explain how the relationship between aggregate supply and aggregate demand is an important determinant of the levels of unemployment and inflation in an economy. SS.E.5.11 2007 Compare and contrast solutions for reducing unemployment. WALT/WIL gross domestic product (GDP), intermediate goods, durable goods, nondurable goods, real GDP, gross national product (GNP), depreciation, business cycle, expansion, economic growth, peak, contraction, rough, recession, depression, stagflation, leading indicators, frictional unemployment, structural unemployment, seasonal unemployment, full employment, inflation, purchasing power, consumer price index (CPI), inflation rate, fixed income, deflation, poverty threshold, poverty rate, income distribution, food stamp program Resources
Learning and Assessment Rubric DOK 1 DOK 2 DOK 3 DOK 4
Goal Clarity Windows Q2 / Q4 LC2 Learning Check 2 Standard Standard: Money and the Role of Financial Institutions Students will understand the role of money and financial institutions in a market economy. SS.E.6.1 2007 Explain the basic functions of money. SS.E.6.2 2007 Identify the composition of the money supply of the United States. SS.E.6.3 2007 Explain the role of banks and other financial institutions in the economy of the United States. SS.E.6.4 2007 Explain how interest rates act as an incentive for savers and borrowers. SS.E.6.5 2007 Describe the organization and functions of the Federal Reserve System. SS.E.6.6 2007 Compare and contrast credit, savings and investment services available to the consumer from financial institutions. SS.E.6.7 2007 Demonstrate how banks create money through the principle of fractional reserve banking. SS.E.6.8 2007 Research and monitor financial investments, such as stocks, bonds and mutual funds. SS.E.6.9 2007 Analyze the difference in borrowing costs using various rates of interest when purchasing a major item, such as a car or house. SS.E.6.10 2007 Formulate a savings or financial investment plan for a future goal. WALT/WILT money, medium of exchange, barter, unit of account, store of value, currency, commodity money, bank, gold standard, central bank, money supply, fractional reserve system, mortgage, interest, principal, investment, financial system, financial asset, financial intermediary, diversification, return, maturity, par value, yield, savings bond, capital market, money market, share, bull market, bear market, speculation Resources
Learning and Assessment Rubric DOK 1 DOK 2 DOK 3 DOK 4
Goal Clarity Windows Q2 / Q4 LC3 Pacing Guide Learning Check 3 Standard: Economic Stabilization Standard Students will understand the macroeconomic role of the government in developing and implementing economic stabilization policies and how these policies impact the economy. SS.E.7.1 2007 Define and explain fiscal and monetary policy. SS.E.7.2 2007 Define the tools of fiscal and monetary policy. SS.E.7.3 2007 Describe the negative impacts of unemployment and unexpected inflation on an economy and how individuals and organizations try to protect themselves. SS.E.7.4 2007 Explain how monetary policy affects the level of inflation in the economy. SS.E.7.5 2007 Analyze how the government uses taxing and spending decisions (fiscal policy) to promote price stability, full employment and economic growth. SS.E.7.6 2007 Analyze how the Federal Reserve uses monetary tools to promote price stability, full employment and economic growth. SS.E.7.7 2007 Predict possible future effects of the national debt on the individual and the economy. SS.E.7.8 2007 Predict how changes in federal spending and taxation would affect budget deficits and surpluses and the national debt. SS.E.7.9 2007 Explain how a change in monetary or fiscal policy can impact a student's purchasing decision. fiscal policy, federal budget, fiscal year, expansionary policy, contractionary policy, classical economics, demand-side economics, supply-side economics, budget surplus, budget deficit, national debt, monetary policy, reserves, reserve requirements, discount rate, required reserve ratio, money multiplier formula, excess reserves, prime rate, easy money policy, tight money policy WALT/WILT Resources
Learning and Assessment Rubric DOK 1 DOK 2 DOK 3 DOK 4
Goal Clarity Windows Q2 / Q4 LC4 Learning Check 4 Standard: Trade Standard Students will understand why individuals, businesses and governments trade goods and services and how trade affects the economies of the world. SS.E.8.1 2007 Explain the benefits of trade among individuals, regions and countries. SS.E.8.2 2007 Define and distinguish between absolute and comparative advantage. SS.E.8.3 2007 Define trade barriers, such as quotas and tariffs. SS.E.8.4 2007 Explain why countries erect barriers to trade. SS.E.8.5 2007 Explain the difference between balance of trade and balance of payments. SS.E.8.6 2007 Compare and contrast labor productivity trends in the United States and other developed countries. SS.E.8.7 2007 Explain how most trade occurs because of a comparative advantage in the production of a particular good or service. SS.E.8.8 2007 Explain how changes in exchange rates impact the purchasing power of people in the United States and other countries. SS.E.8.9 2007 Evaluate the arguments for and against free trade. SS.E.8.10 2007 Identify skills that individuals need to be successful in the global economy. export, import, absolute advantage, comparative advantage, interdependence, trade barrier, tariff, import quota, sanctions, embargo, trade war, protectionism, free trade, exchange rate, balance of trade, trade surplus, trade deficit, balance of payments, developed nation, newly industrialized country, per capita GDP, industrialization, literacy life expectancy WALT/WILT Resources
Learning and Assessment Rubric DOK 1 DOK 2 DOK 3 DOK 4
Lesson Plan Template Module / Date Topic/Theme Materials/Resources/ Technology Standards Addressed: Essential Questions: Routine: What will students do EVERY day when they arrive to class that allows you the opportunity to check attendance and capture all instructional minutes? Focused Instruction: Is lesson purpose clear to students? Does lesson connect to prior learning? Has relevancy been established? Have I modeled Think Aloud of skill(s)? Anticipatory Set / Bell-Ringer Focused Instruction ( I Do ) Guided Instruction: Have students thought through task(s)? Have prompts and cues been provided? Are students allowed a variety of methods in which to respond? Guided Instruction ( We Do ) Collaborative Learning: Are there hands-on opportunities? Are student groupings intentional? Are students accountable for learning? Independent Learning: Are students ready for independent tasks? Does assignment reflect required learning? Does assignment reflect required format? Will students receive feedback? Collaborative Learning ( You Do Together ) Independent Learning ( You Do Alone ) Formative Learning Check Assessment Summative