Kell Brand Unit Plan 5-29-09 (Revised Format)

Kell Brand Unit Plan (Revised for 2012-2013)

Developed By: Steven Robinson, Valerie McNabb Name of Collaborative: Economics Curriculum Area: Social Studies Unit Title: Unit 2 Market Structures and Macroeconomics Time Frame: approximately two weeks 11/8- 12/04 (includes Thanksgiving break) Note: Each teacher keeps his/her own copy reflecting teacher’s unit plan Desired Results Content Standards ( # and brief description): Copy and paste from Picasso SSEMI4 The student will explain the organization and role of business and analyze the four types of market structures in the U.S. economy. a. Compare and contrast three forms of business organization—sole proprietorship, partnership, and corporation. b. Explain the role of profit as an incentive for entrepreneurs. c. Identify the basic characteristics of monopoly, oligopoly, monopolistic competition, and pure competition

SSEMA1 The student will illustrate the means by which economic activity is measured. Element: SSEMA1.a Explain that overall levels of income, employment and prices are determined by the spending and production decisions of households, businesses, government and net exports. Element: SSEMA1.b Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation and aggregate supply and aggregate demand. Element: SSEMA1.c Explain how economic growth, inflation and unemployment are calculated. Element: SSEMA1.d Identify structural, cyclical and frictional unemployment. Element: SSEMA1.e Define the stages of the business cycle as well as recession and depression. Element: SSEMA1.f Describe the difference between the national debt and government deficits.

SSEMA2 The student will explain the role and functions of the Federal Reserve System Element: SSEMA2.a Describe the organization of the Federal Reserve System. Element: SSEMA2.b Define Monetary policy. Element: SSEMA2.c Describe how the Federal Reserve uses the tools of monetary policy to promote price stability, full employment and economic growth.

SSEMA3 The student will explain how the government uses fiscal policy to promote price stability, full employment and economic growth. Element: SSEMA3.a Define fiscal policy. Element: SSEMA3.b Explain the government's taxing and spending decisions.

Content (Unpack Nouns from Standards): Skills (Unpack Verbs from Standards): Students will know… Students will be able to… SSEMI4 SSEMI4 •The student will know how to explain the •The student will know how to explain the organization and role of business and analyze organization and role of business and analyze the the four types of market structures in the U.S. four types of market structures in the U.S. economy. economy. • • •The student will know how to compare and •The student will know how to compare and contrast three forms of business organization contrast three forms of business organization— —sole proprietorship, partnership, and sole proprietorship, partnership, and corporation. corporation. • • •The student will know how to explain the role of •The student will know how to explain the role profit as an incentive for entrepreneurs. of profit as an incentive for entrepreneurs. •The student will identify the basic characteristics •The student will identify the basic of monopoly, oligopoly, monopolistic competition, characteristics of monopoly, oligopoly, and pure competition monopolistic competition, and pure competition

SSEMA1 SSEMA1 How to illustrate the means by which economic Illustrate the means by which economic activity is activity is measured. measured. Element: SSEMA1.a Element: SSEMA1.a Explain that overall levels of income, Explain that overall levels of income, employment employment and prices are determined by the and prices are determined by the spending and spending and production decisions of production decisions of households, businesses, households, businesses, government and net government and net exports. exports. Element: SSEMA1.b Element: SSEMA1.b Define Gross Domestic Product (GDP), economic Define Gross Domestic Product (GDP), growth, unemployment, Consumer Price Index economic growth, unemployment, Consumer (CPI), inflation, stagflation and aggregate supply Price Index (CPI), inflation, stagflation and and aggregate demand. aggregate supply and aggregate demand. Element: SSEMA1.c Element: SSEMA1.c Explain how economic growth, inflation and Explain how economic growth, inflation and unemployment are calculated. unemployment are calculated. Element: SSEMA1.d Element: SSEMA1.d Identify structural, cyclical and frictional Identify structural, cyclical and frictional unemployment. unemployment. Element: SSEMA1.e Element: SSEMA1.e Define the stages of the business cycle as well as Define the stages of the business cycle as well recession and depression. as recession and depression. Element: SSEMA1.f Element: SSEMA1.f Describe the difference between the national debt Describe the difference between the national and government deficits. debt and government deficits.

SSEMA2 SSEMA2 Explain the role and functions of the Federal Explain the role and functions of the Federal Reserve System Reserve System Element: SSEMA2.a Element: SSEMA2.a Describe the organization of the Federal Reserve Describe the organization of the Federal System. Reserve System. Element: SSEMA2.b Element: SSEMA2.b Define Monetary policy. Define Monetary policy. Element: SSEMA2.c Element: SSEMA2.c Describe how the Federal Reserve uses the tools Describe how the Federal Reserve uses the of monetary policy to promote price stability, full tools of monetary policy to promote price employment and economic growth. stability, full employment and economic growth.

SSEMA3 Explain how the government uses fiscal policy to SSEMA3 promote price stability, full employment and Explain how the government uses fiscal policy economic growth. to promote price stability, full employment and Element: SSEMA3.a economic growth. Define fiscal policy. Element: SSEMA3.a Element: SSEMA3.b Define fiscal policy. Explain the government's taxing and spending Element: SSEMA3.b decisions. Explain the government's taxing and spending decisions.

Essential Vocabulary: What critical vocabulary must be learned in order to master the content? sole proprietorship, partnership, corporation, incentive, entrepreneurs, monopoly, oligopoly, monopolistic competition, and pure competition, labor force, derived demand productivity, labor union, glass ceiling, types of labor (unskilled, semi-skilled and skilled)

Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation and aggregate supply and aggregate demand, structural, cyclical and frictional unemployment, the business cycle, recession, depression, national debt, government deficits, Federal Reserve, monetary policy, fiscal policy Essential or Guiding Questions: What questions must students be able to answer to show mastery of the standards? SSEMI4 1. What explanation is given for the organization and role of business, and how do we analyze the four types of market structures in the U.S. economy? 2. How can we compare and contrast three forms of business organization—sole proprietorship, partnership, and corporation? 3. How do we explain the role of profit as an incentive for entrepreneurs? 4. How can we identify the basic characteristics of monopoly, oligopoly, monopolistic competition, and pure competition 5. What is the relationship between wages and skill levels?

Element: SSEMA1.a 1. Explain that overall levels of income, employment and prices are determined by the spending and production decisions of households, businesses, government and net exports.

Element: SSEMA1.b 2. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation and aggregate supply and aggregate demand.

Element: SSEMA1.c 3. Explain how economic growth, inflation and unemployment are calculated.

Element: SSEMA1.d 4. Identify structural, cyclical and frictional unemployment.

Element: SSEMA1.e 5. Define the stages of the business cycle as well as recession and depression.

Element: SSEMA1.f 6. Describe the difference between the national debt and government deficits.

Element: SSEMA2.a 7. Describe the role, functions and organization of the Federal Reserve System.

Element: SSEMA2.b 8. Define Monetary policy.

Element: SSEMA2.c 9. Describe how the Federal Reserve uses the tools of monetary policy to promote price stability, full employment and economic growth.

SSEMA3 10. Explain how the government uses fiscal policy to promote price stability, full employment and economic growth.

Element: SSEMA3.a 11. Define fiscal policy. Element: SSEMA3.b 12. Explain the government's taxing and spending decisions.

Assessment Evidence Common Pre-Test (Optional) N/A Formative Handouts and worksheets Assessments Graphic organizer (build from Summative) Fun with Cups Learning Stations Leveled groupings EOCT test prep Hook or Opener

Common Mid-Unit Unit 2 MUB multiple choice questions Assessment Common “Almost Unit 2 Almost There Assessment multiple choice questions There” Assessment (Should “mirror” the Common Summative Assessment in types and number of questions) Remediation Plan ATA test review (What will you do between Peer mentoring in small group activities (groups comprised of high and the Almost There and the low achievers based on ATA results) Summative Assessment?) Power point review Test corrections Quizlet.com for vocabulary Common Summative Unit 2 Assessment multiple choice questions Assessment

Common Core Elements Reading Element (Literary and Textbook, Guided Reading workbooks for main ideas of textbook Informational Text) sections, articles; word wall as needed

Article:

1) “Change we can believe in: Scrap the dollar bill” with GIST graphic organizer ELACC11-12RH2: Determine the central ideas or information of a primary or secondary source document; provide an accurate summary that makes clear the relationships among the key details and ideas. Writing Element (Argumentative, Expository/Explanatory, N/A Narrative with Text Evidence) Speaking Element (Discussion/Debate N/A Presentations) Listening/Viewing Elements ( Music, Art, Video N/A Clips) Performance-Based Tasks Personal Finance Packet project to begin during Thanksgiving break.

Learning Plan Pacing Guide ex: Day 1-2 Intro of Civil War Day 3- Quiz/Causes of Civil War Day 4- Performance Task- (weekly or daily) RAFT Week 1: Market Structures: Begin with power points, book work (chapter assessments and vocabulary) and guided reading; Fun with Cups and grouping activities; GIST reading activity; introduce stations Week 2: MUB, Macro power points, book work (chapter assessments) and guided reading; stations MUB 03/19/13 ATA assessment on 03/26/13 Unit 2 test on 03/28/13

Learning What learning experiences and instruction will enable students to achieve the desired Activities/Engagement results? Create a list with a brief description. ex: Graphic Organizer – compare/contrast differences of North/South RAFT – Speech to Troops (Grant vs. Lee) Graphic organizer for reading assignment and in chapter assessments Fun with Cups activity for review and remediation Group packets and learning stations Peer tutoring Learning packets to reinforce class discussion/learning Word wall

Differentiation Tasks are varied by content, process, and/or product based on students’ readiness, learning profiles or interest. Use of varying materials, resources, and tasks. (Please address how you Note: Readiness and profiles include Students with Disabilities and Gifted will differentiate to meet Ex: Students completing a reading task with choice of One-Pager OR Reflective Reading Strategy. remedial, on-level and gifted students) Learning stations during remediation Flexible groupings, pretest, group share, self-selection. When lecturing/discussing/presenting in class, various techniques are used for auditory (lecture), visual (DVD’s and power points), and kinesthetic (interactive lecture and discussion) learners; Individual tutoring as needed Lower Lexile questions/article as practice for special education students USA Test Prep with use of ReadWrite 9 Students choose from articles based on reading levels and interests Quizlet.com for vocabulary review Materials/Resources Textbook (hard copy and online) Power points GCEE Virtual Economics Guided Reading Workbook Test Prep workbook USA Test Prep Article to reinforce common core

Collaborative Include dates of meeting times Reflection (What can be As needed during planning and class. improved? What went well and what did not go well?)