Skills Based Learning Targets (semester long)

• Using reasoned decision making techniques, make economic choices as individuals, head of households, and organizations/governments.
• Understand basic micro and macroeconomic principles and be able to apply them in real life situations.
• Understand the interactions between the government and the economy to help become a more active citizen.
• Compare and contrast the various economic systems, including traditional, command, market based and mixed economic systems.

Content Based Learning Targets

• I can create short-term and long-term financial goals that follow the S.M.A.R.T. goals model. (9.2.2.2.1)
• I can use financial planning to create a budget and analyze my own spending in relation to my financial goals. (9.2.2.2.1)
• I can identify the role of various investment options when building a diversified portfolio. (9.2.2.2.2)
• I can assess the risks and rewards involved with different investment options and employ analytical decision-making practices. (9.2.2.2.2)
• I can identify and explain the advantages and disadvantages of buying on credit. (9.2.2.2.3)
• I can describe the 3 C’s of credit and explain the relationship between credit and interest rates. (9.2.2.2.3)
• I can identify terms on comparison shopping and apply strategies I used or would like to use to make educated decisions as a consumer. (9.2.2.2.4)
• I can describe the fundamental economics questions that drive the economy. (9.2.3.3.1)
• I can identify trade-offs and determine the opportunity cost of decisions. (9.2.3.3.1)
• I can explain how incentives drive the decision-making process for producers, consumers and governmental systems (9.2.3.3.1)
• I can explain the four factors of production and their importance in the economy. (9.2.3.4.1)
• I can describe and apply the PPF in real-life situations. (9.2.3.4.1)
• I can describe the 4 types of economic systems and explain advantages and disadvantages of each. (9.2.3.4.2)
• I can examine the pros and cons of government involvement in an economy and discuss the ideal role for the government. (9.2.3.4.2)
• I can compare and contrast the different political systems, and analyze the change from socialism and communism to capitalism. (9.2.3.4.2)
• I can identify and analyze market failure and evaluate the effectiveness of government policies that attempt to remedy such failures. (9.2.4.8.1)
• I can compare/contrast the effectiveness of economic systems by analyzing their ability to achieve economic goals. (9.2.3.4.3)
• I can explain the circular flow model and the flow of money and production (9.2.4.5.1)
• I can design a circular flow model of a real-life product and explain the exchanges and interactions between each decision maker. (9.2.4.5.1)
• I can explain the difference between monopolies and oligopolies and list characteristics/examples of each. (9.2.4.6.1)
• I can explain how my role as a consumer is affected by various demand factors within the market economy (9.2.4.5.3)
• I can explain the relationship between price and quantity demanded. (9.2.4.5.3)
• I can list various determinants of demand and graph the demand curve and how it shifts. (9.2.4.5.3)
• I can describe goods that are considered elastic and inelastic and graph their price elasticity. (9.2.4.5.3)
• I can explain how supply is determined by the amount of supplies and sellers in the marketplace. (9.2.4.5.4)
• I can explain the relationship between price and quantity supplied. (9.2.4.5.4)
• I can list various determinants of supply and graph the supply curve and how it shifts. (9.2.4.5.4)
• I can locate equilibrium and explain its significance in the market. (9.2.4.5.5)
• I can identify how shortages and surpluses signal a change in price and explain the effects of price controls on the market. (9.2.4.5.5)
• I can graph changes in supply and/or demand and explain how these changes affect equilibrium price and quantity. (9.2.4.5.6)
• I can compare and contrast characteristics of various market structures. (9.2.4.6.1)
• I can explain how the decisions I make as a consumer (such as where I shop, and the products I purchase) affect the economy, including both small & large-scale market structures. (9.2.4.6.2)
• I can analyze the effectiveness of government programs in aiding distribution of wealth and poverty. (9.2.4.7.1)
• I can describe how governmental policies impact wage rates. (9.2.4.7.1)
• I can explain specific factors that determine wage rates and income in labor markets (9.2.4.7.1)
• I can describe how world events can affect the price of commodities and final products. (9.2.4.7.3)
• I can explain what the Gini Coefficient is and how it affects various peoples throughout the world. (9.2.4.8.3)
• I can describe GDP and its components. (9.2.5.9.1)
• I can explain the difference between Nominal GDP and Real GDP. (9.2.5.9.1)
• I can use Real GDP to measure the economic growth of an economy. (9.2.5.9.1)
• I can explain inflation and its effect on the purchasing power of individuals. (9.2.5.9.2)
• I can use the Consumer Price Index to measure inflation over time. (9.2.5.9.2)
• I can list and describe the 4 types of unemployment. (9.2.5.9.3)
• I can calculate unemployment and analyze factors that may lead to changes in unemployment. (9.2.5.9.3)
• I can compare and contrast the economic views of major political ideologies and explain how that drives fiscal policy. (9.2.5.11.3)
• I can use absolute and comparative advantage to explain the benefits of specialization and trade. (9.2.5.12.1)

Textbook: Economics Today & Tomorrow (2008). McGraw Hill