Economics

**Foundations of Economics** ** 1. ** Analyze the implications of scarcity: ** 2 ** Analyze production possibilities curves to describe opportunity costs and trade-offs. ** 3 **. Describe the characteristics of the mixed-market economy of the United States: a. property rights b. profit motive c. consumer sovereignty d. competition e. role of the government f. rational self-interest g. invisible hand ** 4. ** Evaluate the economic implications of current events from a variety of sources (e.g., magazine articles, newspaper articles, radio, television reports, editorials, Internet sites). ** 5 **. Interpret economic information using charts, tables, graphs, equations, and diagrams. **Microeconomics** ** 1 **. Describe how the interdependence of both households and firms is affected by trade, exchange, money, and banking: a. why voluntary exchange occurs only when all participating parties expect to gain from the exchange <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">b. role and interdependence of households, firms, and government in the circular flow model of economic activity <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">c. role of entrepreneurs in a market economy and how profit is an incentive that leads entrepreneurs to accept risks of business failure <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">d. financial institutions and securities markets <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">e. importance of rule of law in a market economy for enforcement of contracts <span style="font-family: 'Times New Roman',Times,serif;">** 2. ** Describe how markets function: <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">a. laws of supply and demand <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">b. how a market price is determined <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">c. graphs that demonstrate changes in supply and demand <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">d. how price ceilings and floors cause shortages or surpluses <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">e. comparison of monopolistic and competitive behaviors <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">f. theory of production and the role of cost <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">2.Describe how government policies influence the economy: <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">a. need to compare costs and benefits of government policies before taking action <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">b. use of federal, state, and local government spending to provide national defense; address environmental concerns; define and enforce property, <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;"> consumer and worker rights; regulate markets; and provide goods and services <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">c. effects of progressive, proportional, and regressive taxes on different income groups <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">d. role of self-interest in decisions of voters, elected officials, and public employees Can You Be the Next Market Guru?/2 (Econ Ed Link) Can You Be the Next Market Guru?/3 (Econ Ed Link) Different Types of Taxes Economic Forecasting: An Internet WebQuest (Econ Ed Link) Economics of Taxation The Economist EconoStocks (Think Quest) Debt Ski || Fiscal Policy Inside Wall Street Investing Money (Youtube) Microeconomics Microeconomics Microeconomics (ASK) Microeconomics Definition Monetary and Fiscal Policy New York Exchange Made Easy (Econ Ed Link) || The Role of Government The Stock Market Game Stock Market Math [|Stock Prices Tumble] (Econ Ed Link) || Taxation Tic Tac Taxes (Econ Ed Link) Who Pays for City Hall? (Econ Ed Link) Who Pays for City Hall?/Glossary (Econ Ed Link) || <span style="color: #ff0000; font-family: 'Times New Roman',Times,serif;">**Macroeconomics** <span style="font-family: 'Times New Roman',Times,serif;">** 1 **. Determine how inflation, unemployment, and gross domestic product statistics are used in policy decisions. <span style="font-family: 'Times New Roman',Times,serif;">** 2 **. Explain the effects of inflation and deflation on different groups (e.g., borrowers v. lenders, fixed income/cost of living adjustments). <span style="font-family: 'Times New Roman',Times,serif;">** 3. ** Describe the economic and non-economic consequences of unemployment. <span style="font-family: 'Times New Roman',Times,serif;">** 4 **. Analyze fiscal policy and its effects on inflation, unemployment, and economic growth. <span style="font-family: 'Times New Roman',Times,serif;">** 5 **. Describe the functions of the Federal Reserve System (e.g., banking regulation and supervision, financial services, monetary policy) and their influences on the economy. <span style="font-family: 'Times New Roman',Times,serif;">** 6. ** Explain the effects of monetary policy on unemployment, inflation, and economic growth. <span style="font-family: 'Times New Roman',Times,serif;">** 7. ** Determine how investment in factories, machinery, new technology, and the health, education, and training of people can raise future standards of living. Business Plan Tips || Gross Domestic ProductInflation Calculator ||  || US National Debt Clock US National Debt Clock Using the Simpsons to Improve Economic Instruction Through Policy Analysis || <span style="color: #ff0000; font-family: 'Times New Roman',Times,serif;">**Global Economics** <span style="font-family: 'Times New Roman',Times,serif;">** 1. ** Analyze the similarities and differences among economic systems: <span style="font-family: 'Times New Roman',Times,serif;">** 2. ** Describe the effects of international trade on the United States and other nations: <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">a. how people and nations gain through trade <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">b. how the law of comparative advantage leads to specialization and trade <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">c. effects of protectionism, including tariffs and quotas on international trade and on a nation’s standard of living <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">d. how exchange rates work and how they affect international trade <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">e. how the concepts of balance of trade and balance of payments are used to measure international trade <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">f. factors that influence the major world patterns of economic activity including the differing costs of production between developed and developing countries <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">g. economic connections among different regions, including changing alignments in world trade partners <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">h. identify the effects of trade agreements (e.g., North American Free Trade Agreement) Civilization and Economic Growth Comparative Economic Systems (Econ Ed Link) Crisis Goes Global (Scholastic) Currency Exchange and the Gang of Fifteen Early Economies || Financial Problems in South Africa (Think Quest) Getting Organized: Command, Market, and Mixed Economics (Info Please) Kentucky High School Financial Planning Lessons on Economics Systems || Socialism: A Glossary of Political Economy Terms || Trading Around the World The Travels of a T-Shirt in the Global Economy Types of Economics (Think Quest) USA Economy in Brief Using the Mini-Economy in Middle School What is Socialism? || <span style="color: #ff0000; font-family: 'Times New Roman',Times,serif;">**Personal Finance** <span style="font-family: 'Times New Roman',Times,serif;">** 1 **. Explain how education, career choices, and family obligations affect future income. <span style="font-family: 'Times New Roman',Times,serif;">** 2. ** Analyze how advertising influences consumer choices. <span style="font-family: 'Times New Roman',Times,serif;">** 3. ** Determine short- and long-term financial goals and plans, including income, spending, saving, and investing. <span style="font-family: 'Times New Roman',Times,serif;">** 4 **. Compare the advantages and disadvantages of using various forms of credit and the determinants of credit history. <span style="font-family: 'Times New Roman',Times,serif;">** 5. ** Explain the risk, return, and liquidity of short- and long-term saving and investment vehicles. <span style="font-family: 'Times New Roman',Times,serif;">** 6. ** Identify investment options, (e.g., stocks, bonds, mutual funds) available to individuals and households. Balance Your Checking Account (The Mint) Be Your Own Boss Challenge (The Mint) Budget Odyssey (Econ Ed Link) Center for Student Credit Card Education Don't Buy It! (PBS Kids) || Explorations In Economic Demand Hands On Banking InDeptEd [|I Paid How Much?] (The Mint) The Mint National Standards in Personal Finance (Econ Ed Link) || Peanuts and Crackerjacks Personal Finance Resources Personal Finance WebQuest Personal Finances PPPT The Power 72 (The Mint) Sales Tax (Cool Math) Sales Tax (AAA Math) Sales Tax on the Internet Savings Calculator (The Mint) Sense & Dollars (Thinkport) Should the Internet Remain a Sales Tax Haven? Simulation of Credit Card Type Interest Spending (The Mint) || Tax Free Internet Shopping Could End Soon (YouTube) The Truth About Millionaires (The Mint) Understanding Taxes (IRS) What is Your Credit Card IQ? (The Mint) What's the Real Cost of Credit? (The Mint) When Do You Have to Pay Sales Tax on Internet Purchases? When Will You Be a Millionaire? Your Money: Online Sales Taxes (YouTube) || AP Economics College Aboards || Greg Mankiw's Blog || Ms. Hastings PowerPoints Principles of Economics || Wall Street Journal Newsletters ||
 * <span style="font-family: 'Times New Roman',Times,serif; font-size: 18.6667px;">Economics **
 * 1) <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">limited resources and unlimited human wants influence choice at individual, national, and international levels
 * 2) <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">factors of production (e.g., natural, human, and capital resources, entrepreneurship, technology)
 * 3) <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">marginal analysis by producers, consumers, savers, and investors
 * CIA: The World FactBook || Inside Wall Street || Social Studies Central/Web 2.0 Tools ||  ||
 * 7 Types of Taxes and How to Pay Them
 * Business and Industry
 * 1) <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">characteristics of market, command, and mixed economic systems, including roles of production, distribution, and consumption of goods and services
 * 2) <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">benefits and costs of market and command economies
 * 3) <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">characteristics of the mixed-market economy of the United States, including such concepts as private ownership, profit motive, consumer sovereignty, competition, and government regulation
 * 4) <span style="font-family: 'Times New Roman',Times,serif; font-size: 13.3333px;">role of private property in conserving scarce resources and providing incentives in a market economy
 * Benefits of Free Trade Economics
 * 5 Ways an Internet Sales Tax Will Impact Your Online Business (YouTube)
 * <span style="color: #ff0000; font-family: 'Times New Roman',Times,serif;">AP Economic Sites **
 * AP Economics

Classroom Economy (Money Instructor) Common Sense Economics Council for Economic Education/Online Lessons Cyber Economics Dr. Econ Dr. T's Economics Teaching Resources Easy Economics (Think Quest) Econ Data Econ Ed Link Economagic: Economic Time Series Economic Education Economic History Site (Think Quest) Economic Lesson Plans (Discovery Education) Economic Presentations Economics Economics Economics Economics Economics (ProTeacher) Economics (NEO K-12) Economics (Wikipedia) Economics (About) Economics (Yahoo) Economics and Personal Finance Content Videos for Teachers Economics at Cal Economics Classroom Economics Directory Economics Education and Financial Literacy: Resources Economics - E-Journal Economics for Kids (PPPST) Economics in Plain English Economics Gloss-arama Economy for Kids (Scholastic) || Financial Institutions General Economics Resources Government and Economic Efficiency Great Economic Lessons 6-12 Lesson Plans (McREL) Lesson Plans (McREL) Great Economists and Their Times High School Economics High School Economics Lessons || Ideas for Teachers (The Mint) Introducing the Classroom Economy (Scholastic) Lesson Plans (McREL) Make Your Own Money/WebQuest MIT Department of Economics Money SKILL My Classroom Economy: Bring the "Real World" Into the Classroom (Scholastic) Online Economics Lessons (Econ Ed Link) Our Classroom Economy: As Easy As 1, 2, 3 and Totally Free (Scholastic) Resources Studying Economics || Teaching Economics As If People Mattered/Lesson Plans THEN: Teaching History and Economics in Nebraska TV for Economics US Department of Treasury Using Short Movie and Television Clips in the Economics Principles Class The Wall Street Journal/Classroom Edition What is Economics? (About) ||
 * <span style="color: #ff0000; font-family: 'Times New Roman',Times,serif;"> Additio nal Economic Sites **
 * Classroom Economics