Social Studies Grade 8 s1

Social Studies – Economics Unit of Study: Introduction to Economics First Grading Period – Unit 1 CURRICULUM OVERVIEW Big Idea Unit Rationale Enduring Understandings Productive Resources are limited. Therefore, people cannot have all the goods and  Productive resources are limited. Therefore, people cannot have all the goods and services they want; as a result, they must choose some things and give up others. services they want; as a result, they must choose some things and give up others Effective decision-making requires comparing the additional costs of alternatives with (opportunity cost). the additional benefits. Most choices involve doing a little more or a little less of  People usually exploit opportunities to make themselves better off. something; few choices are all-or-nothing decisions.  Economists look at the world with different perspectives. Lessons for this Unit  Human wants are unlimited, but the means to satisfy the wants are limited.  People create economic systems to influence choices. Lesson 1: What is Economics?  Every action costs someone time, effort or lost opportunities to do something else  Scarcity and the Factors of Production with the resources that were used.  Opportunity Cost  Free enterprise in America is founded on ideas so basic to our culture that we tend  Production Possibilities Curves to take them for granted. Lesson 2: Economic Systems  An important role for government in the economy is to define, establish, and  Answering the Three Economic Questions enforce property rights.  The Free Market  Governments often provide for national defense, address environmental concerns,  Centrally Planned Economics define and protect property rights, and attempt to make markets more competitive.  Modern Economies Overarching Questions Lesson 3: American Free Enterprise  What are characteristics of scarcity?  Benefits of Free Enterprise  What are the four factors of production and how do they relate to each other?  Promoting Growth and Stability  What are the three key economic questions that serve as the basis of production  Providing Public Goods and consumption of goods and services?  Providing a Safety net  What is a working definition of a ‘system’, and how is this related to economics?  What are the goals for economic systems?  How do the values of a society influence the importance of various economical goals?  What are the basic principles of the US free enterprise system?  What are the benefits of free enterprise in the US and how does the Constitution protect this system?  What role do both the consumer and the government play within the system?  How does government influence business cycles and promote economic strength?  What are the effects of technology on productivity?

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. TEKS TEKS Specificity - Intended Outcome 1 Citizenship. The student understands the rights and responsibilities of consumers in the U.S. free enterprise system. The student is expected to: ” I CAN” statements highlighted in yellow and italicized should be displayed A analyze the economic rights and responsibilities of individuals as consumers; and for students. B analyze the consequences of an economic decision made by an individual consumer. 5 Economics. The student understands the concepts of scarcity and opportunity I can costs. The student is expected to:  (5A) Explain why scarcity and choice are basic problems of economics. A explain why scarcity and choice are basic problems of economics; and  Identify land, labor, and capital as the three factors of production, and identify B interpret a production-possibilities curve and explain the concepts of opportunity costs the two types of capital. and scarcity.  Explain the role of entrepreneurs. 12 Geography. The student understands the geographic significance of the  Explain why economists say all resources are scarce. economic factors of production. The student is expected to:  Describe why every decision involves trade-offs. A describe the effects of the unequal distribution of economic factors of production; s  Explain the concept of opportunity cost. t B analyze the locations of resources used in the production of an economic good and p  Explain how people make decisions by thinking at the margin.

e evaluate the significance of the locations.

c  Interpret a production possibilities curve. 16 Government. The student understands the goals of economic growth, n  Demonstrate how production possibilities graphs show efficiency, growth, and o stability, full employment, freedom, security, equity, and efficiency as they apply C to U.S. economic policy. The student is expected to: cost. B analyze how economic growth, stability, and full employment are measured.  Understand that a country’s production possibilities depend on its available 119 History. The student understands economic ideas and decisions from the past that resources and technology. have influenced the present and those of today that will affect the future. The student is expected to: A analyze the importance of various economic philosophers such as John Maynard Keynes, Karl Marx, and Adam Smith and their impact on the U.S. free enterprise system 22 Culture. The student understands the impact of a nation's culture on its level of economic development. The student is expected to: A describe the level of economic development of selected nations s

(A) l 23 Social studies skills. The student applies critical-thinking skills to organize and use l i information acquired from a variety of sources including electronic technology. The k

S student is expected to: (B) (A) analyze information by sequencing, categorizing, identifying cause-and-effect relationships, comparing, contrasting, finding the main idea, summarizing, making generalizations and predictions, and drawing inferences and conclusions; (C) (B) create economic models such as production-possibilities curves, circular-flow charts, and supply-and-demand graphs to analyze economic data; (D) (F) evaluate economic-activity patterns using charts, tables, graphs, and maps (E) 24 Social studies skills. The student communicates in written, oral, and visual forms. The student is expected to: (F) A use social studies terminology correctly (G) D create written, oral, and visual presentations of social studies information.

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. (H) 25) Social studies skills. The student uses problem-solving and decision-making skills, working independently and with others, in a variety of settings. The student is expected to: (I) (B) use a decision-making process to identify a situation that requires a decision, gather information, identify options, predict consequences, and take action to implement a decision. (J) (26) Science, technology, and society. The student understands the effects of science and technology on an economy. The student is expected to: (A) analyze the effect of technology on productivity; (B) (B) analyze the economic effects of the development of communication and transportation systems in the United States

Evidence of Learning

□ Given a variety of economic and non economic situations, students will apply scarcity concepts with 80% accuracy. □ Given a production possibility frontier students will be able to interpret and analyze the significance of different points on a PPC with 80% accuracy. □ Given an economic system, students will explain how resources are used in each system with 80% accuracy.

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Social Studies – Economics Lesson 1 – What is Economics? (5 days) First Grading Period – Unit 1 CURRICULUM GUIDE Essential Questions Essential Pre-requisite Skills  Why are scarcity and choice the basic problems of economics?  Be familiar with how goods and services contribute to the economy (2nd)  Why are all goods and services scarce?  Identify examples of scarcity and the ways scarcity affects production,  What challenges do people face when trying to allocate scarce resources? distribution, and consumption of goods and services (3rd)  What are characteristics of scarcity?  What are the four factors of production and how do they relate to each other?  How do trade-offs help people maximize their resources?  What is the purpose of Production Possibilities Curves? The Teaching and Learning Plan Instructional Model & Teacher Directions So students can… The teacher will… Use the resources found on the Social Studies website, Government Alive! Strategies and the Social Studies Framework to conduct daily instruction.  Discover their knowledge of economics in order to Hook build greater understandings.  Give students a pretest to ascertain their background knowledge of economics. (Note: Because most generally  Determine what resources the earth provides. don’t have an idea of the magnitude of common economic measurements, their reading of the news may be colored  Analyze news articles related to economics for by this lack of knowledge.)  Explain to a partner why their choice is a good  Daily: Upon entering the classroom, have a short problem or idea to graph displayed on an overhead projector example of scarcity. (found in the Transparency Resource Package). Begin the first two weeks by modeling an analysis of graphic  Understand the interaction of supply, demand, and information, then gradually relinquishing independence to the students. When modeling, verbalize the steps as you price and identify determinants that create changes draw. Clearly and properly label the axes, and always label the curves and changes in any graph. Soon, students in those factors. (7A) must prepare their answer and be ready to share it with the class in about 5-7 minutes. Have students pair up and  TOPIC: Weighing Costs and Benefits Students draw graphs on the board or provide blank overhead transparencies for the students to use when presenting. Be make a choice of product based on information sure to ask for analysis: What is the relationship between the variables? Why? What caused the changes? provided on the label and its cost. They then stand  Display an image of a landscape and have students record as many resources that they can find within the picture. in the respective corner to indicate their choice of  Bring in an article on a current news event related to economics. Share with the class and model how to find product and discuss with others in the group what answers to these questions: What resources are involved in this event? How does this event affect other parts of the influenced their choice. They select one group economy? What forces were at work to cause this event? member to summarize their rationale for the class.  Have students consider an example of something that an economist would consider scarce.  Bring 3 CDs, of various types of music, to the lecture. Ask if anyone wants them. Presumably, more than one person will want each one and then you can ask the class how to solve the dilemma. What process and/or criteria should be used to distribute or ration the CDs? (Examine the nature of the different possibilities: first-come-first- served, lottery, contest or winner-take-all, money-price, need, auction, sharing equally, etc.) TOPIC: Weighing Costs and Benefits Bring in the labels of a four brands of the same product (for a Four Corners activity, each corner labeled for one product), including the price for each. Based on the information provided by the labels and cost, have students select a product. Students then move to the corner that matches their decision and discuss among themselves what factors played into their decision. Select one student from each group to summarize the factors in their decision. Discuss that students often choose among many similar products, but certain factors affect their choices (price, taste, quality, ingredients, familiarity with brand name, etc.) TOPIC: Opportunity Costs of Educational Choices Provide copies of the article from BusinessWeek (see below) SAISD © 2008-09 – First Grading Period Economics- Initial Release Aug 08, V1 Page 4 of 47

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. regarding the basketball scholarship L’il Romeo received. Does he deserve it? How do we measure that? Can this happen to anyone? Lead into the guided practice. http://classroomedition.com/cre/articles/08may_spts_lilromeo.htm Guided Practice  Maintain Current Events Notebook by clipping  Guide students to analyze the news media by keeping a current events journal. Each week, find one article from a articles from a variety of sources and identifying newspaper, news magazine, or Internet news site to analyze. The article should cover an important or controversial relationships in economics. Generic questions can economic issue or event. Tape the article into the notebook and answer the following questions: (1) What is the include: subject of the article? (2) What is the article’s source? Who wrote it? How might the source affect the way the story  Record responses to activities in Interactive was reported? (3) What is your overall impression of the coverage this news story? Which unanswered questions Notebook. remain? What is missing? Is there any detectable bias? (4) What is your opinion about the issue or event covered in the article? Further support is accessible from the Prentice Hall web site at  Work collaboratively to solve given problems http://www.phschool.com/social_studies/newstracker/lesson_support/lesson_plans/understand_news.html according to the grouping model and report  Guide student reading of the chapter by using support transparencies to graphically organize their learning. responses during large group meeting.  Support student analysis of graphic information by asking questions such as: What is the purpose of the graph and what is its message? Who might this information be helpful for? How do the variables interact with one another? When students probe for answers, think in terms of graphical analysis: Can you draw it? Can you see your question in a graph? Chapter 1, Section 1 TOPIC: The Factors of Production  Capital Resources: Provide copies of a portion of the article “The Digital Hospital” (see link below) from BusinessWeek (the first paragraph and the 1st sentence of the 2nd paragraph). Guide student comprehension by asking questions such as: What decision did the doctor make? Why might that decision have harmed his patient? Who alerted the doctor that he had made a mistake? To what factor of production does the warning system belong? Explain how that factor of production improved productivity. How did it help save lives? (http://www.businessweek.com/magazine/content/05_13/b3926001_mz001.htm)  Human Resources/Natural Resources: Display an image of a house under construction. Ask students which resources are being used to complete the building? (labor, wood, and the land it is on, etc.)  Natural Resources: Display a picture of a wind farm or refer to a newspaper article on this topic. Ask how this is an example of a natural resource. Students brainstorm as many natural resources as possible.  Entrepreneurship: Show an image of Bill Gates. Discuss how he is an example of entrepreneurship and how this has affected all of the other resources (reduced paper, reduced labor costs, etc.) Chapter 1, Section 2 supplement TOPIC: Opportunity Costs of Educational Choices  1. Ask students to identify their occupational aspirations and to explain why they are considering these jobs/careers. Ask them to explain what, if any, post high school education is necessary for these jobs/careers.  2. Ask them if they have considered the costs of further education. Students will probably not consider the opportunity costs of such education. Use Activity 1 to develop this concept.  3. After students understand the concept of opportunity costs, pose the following economic mystery (Visual 1). "When it takes, at least, an additional seven years of schooling, and over one hundred thousand dollars in costs and lost earnings, why would a person want to graduate from college instead of dropping out after the ninth grade?"  Online lesson TOPIC: Opportunity Costs supplement SAMPLE INTERACTIVE DISCUSSION QUESTIONS:  Give a student the choice of a package of gum or a candy bar. What did he choose? What did he refuse; what is his opportunity cost? Poll other students to see if they would make the same choice. How and why would students’ opportunity costs vary? Emphasize that the opportunity cost (what is refused or given up) may change as the available alternatives change and as people's tastes change.  Next, take from a bag an old (and sweaty?) T-shirt that you brought with you and offer to sell it. Why will nobody buy it? Is its value different if it belonged to Brad Pitt or Brett Favre instead of belonging to you? Why? Give a student the choice of the old T-shirt or a new one. Which did she/he choose? Which did she refuse? What was her SAISD © 2008-09 – First Grading Period Economics- Initial Release Aug 08, V1 Page 5 of 47

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. opportunity cost to obtain the new shirt? Was that a high or low cost? Emphasize that "Choosing Is Refusing." What you give up - or refuse - is your opportunity cost (and your perceptions determine its value).  Bring three similar, but not identical, items to give away (any selection of healthy snacks would work). Ask a student to choose which of the three items he wants. Discussion: Was his choice "free," or was there an opportunity cost? TOPIC: Opportunity Costs: Sample Small Group Discussion Problems  Divide students into small discussion groups (4-5 students per group). If you use the cooperative grouping model, assign student roles as follows:  discussion leader - responsible for facilitating the discussion and involving all group members  task master and time keeper - responsible for pacing the discussion so that all parts of the task are completed in the time allowed  recorder/reporter - responsible for recording the essence of group discussions and reporting them in subsequent large group meeting  economics watchdog - responsible for making sure that the concept of opportunity cost is the central focus of each problem solving approach  Review the concept of opportunity cost (the most highly valued alternative) (Should I go to work today? Should I go to college after high school? Should the government spend money on a new weapon system? These are decisions that are made everyday; however, what is the cost of our decisions? What is the cost of going to work, or the decision not to go to work? What is the cost of college, or not to go to college? Finally what is the cost of buying that weapon system, or the cost of not buying that weapon? In economics it is called opportunity cost.) Go through one practice problem with the students. Assign students to "solve" each of the following. The solution must include identification of the costs and identification of the bearer of the costs. Chapter 1, Section 3 supplement TOPIC: Weighing Costs and Benefits Emphasize that an important part of economics is to help maximize things that are available (in our personal lives, our communities, and our country as a whole). Remind them that since we can’t get everything we want (scarcity); we need a process for making good decisions to maximize satisfaction. One way to do this is to make a model of the situation in order to see how changing one factor will affect other things. http://www.memagazine.org/oct07/features/wedge/wedge.html In Mechanical Engineering, the article “The Wedge Factor” illustrates how making choices to eliminate carbon dioxide emissions impacts the Production Possibilities graph. Independent Practice Chapter 1, Section 1: Refer to Natural Resources map on p. 532: Students can create bar graphs to determine how many states produce hydroelectric power, petroleum, etc. to create a visual of the abundance of our natural resources. Chapter 1, Section 2 TOPIC: Opportunity Costs of Educational Choices  4. Divide class into small groups, distribute the Handy Dandy Guide; ask students to solve the economic mystery using appropriate information from the HDG. Visual 2 "Average Earnings of Females by Educational Attainment, 1990" can be used to begin the discussion.  5. Ask them to review the HDG to see if they can link the earnings data to #3 and #6 on the HDG. See if they can use #1 and #2 on the HDG to also help to solve the economic mystery. To conclude the lesson, ask students to relate the HDG and opportunity costs to their job/career plans. Optional extension: Unit 1 folder, p. 11 gives students a closer look at the career path of an economist. TOPIC: Opportunity Costs : Sample Small Group Discussion Problems Click hyperlink for sample problems. Chapter 1, Section 3: Production Possibilities Curves (PPCs) – visit www.phschool.com for sample graphs of PPCs.

Independent Activities included in the text: Economic Profile – Gary Becker Read and answer questions under “Check for Understanding”, p. 7. Section Assessments: pages, 7, 11, 18

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Chapter 1 Assessment – Questions 1 – 21 on pages 20-21. Real-life Case Study: Safety at any Cost? Page 19 Take it to the NET activity, p. 6 where students visit www.phschool.com to read about the patents of some potential entrepreneurs, and then summarize (written or visually) one of the patent ideas.

Vocabulary: Resources  Goods – tangible things you can buy Textbook:  Services – useful actions that people can perform Prentice Hall, Economics: Principles in Action – Chapter 1, Sections 1 - 3  Individual choice – the decision by an individual of what to do, which necessarily involves a decision of what not to do. Print Resources  Scarcity - Scarcity means that people cannot obtain as much of something as Junior Achievement Applied Economics program they want, without making a sacrifice or bearing a cost. Scarcity defines a Internet Resources relationship - between the amount of something we want and the amount that is  http://www.businessweek.com/ Utilize articles from this resource for classroom available. readings/discussions.  Shortage – a situation in which a good or service is unavailable  http://www.federalreserveeducation.org/FRED/?  Factors of production – a categorization of resources that produce goods and CFID=10700323&CFTOKEN=37599511 an excellent interactive site for all things services: natural resources, human resources, and capital resources. monetary  Entrepreneur – an individual who combines land, labor, and capital to create and  http://www.rfe.org/ This site provides data from the World Bank, financial market new goods and services (see Transparency 1.1 Concept Web) markets, U.S. and regional data, Federal Reserve sites, as well as key terms and  opportunity costs – The real cost of something is what you must give up to get definitions. it. The most highly valued sacrificed alternative; the value of the "next-best"  http://www.themint.org/kids/learning-and-earning.html an interactive website choice. (see Transparency 1.2 Tree Map) showing the relationship between education and income  trade-offs – each decision to do or buy one thing is also a decision not to buy or  http://www.phschool.com/atschool/econ/ The website companion to the textbook do another thing.  http://classroomedition.com/cre/ The Wall Street Journal Classroom Edition  http://www.imf.org/external/index.htm The International Monetary Fund (IMF) works to meet the economic needs of its members in the changing global economy.  http://www.worldbank.org/ This site features financial and technical information for the world's developing countries  http://online.wsj.com/mdc/public/page/marketsdata.html This site features market statistics, including full statistical reports on the economic indicators, such as consumer credit, consumer price index, retail sales and consumer sentiment, which economists use to gauge and forecast business conditions.  http://www.younginvestorfund.com/ This site features a no-load mutual fund targeted at teenagers to help them develop basic financial life skills. This comprehensive investing program includes a kid-themed fund, investment kit, free college tuition credits, investment newsletter and various online games where teens can participate to win prizes  http://www.thinkfinity.org/about.aspx An excellent resource for high-quality lessons!

Lesson Plans Online related to this unit:  The Economics of the Family Farm http://www.econedlink.org/lessons/index.cfm? lesson=NN122&page=teacher

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.  Scarcity and Choice http://www.ncee.net/ei/lessons/OldMac/lesson5/  Planning for the Prom http://www.themint.org/teachers/scarcity-choice-and- decisions.html  The Economics of Income: If You’re So Smart, Why Aren’t You Rich? http://www.econedlink.org/lessons/index.cfm?lesson=NN130  Why Does Brett Favre Make $8.5 Million a Year? http://www.econedlink.org/lessons/index.cfm?lesson=EM650&page=teacher

Resources AIMS Digital Curriculum Print Resources

See campus librarian for additional print and non-print resources

Evidence of Learning Differentiation Interims/TAKS/Benchmarks College-Readiness Anticipated Skills for SAT/ACT/College Board What do you do for students who need extra True, false, or uncertain, and why? “The economic support? The purpose of a production possibilities graph is to concept of scarcity is not relevant to a modern economy Provide chapter outline notes by using Presentation Pro – such as the United States. Americans are surrounded by CD-ROM to create an outline for the chapter for them to F enable a country to mobilize to win a war vast quantities of unused goods. For example, food fills include in their Interactive notebooks. the supermarkets, and every car dealer has many cars in G keep an economy from having nonproductive the showroom and lot. Americans are surrounded by What do you do for students who master the learning workers plenty, not scarcity.” quickly? Students can follow the lesson, Education: Weighing H show alternative ways to use an economy’s Your Options, from EconEdLink: resources http://www.econedlink.org/lessons/index.cfm? lesson=EM660&page=teacher J make it possible to increase an economy’s output

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Evidence of Learning Formative Mini Assessment TAKS Benchmarks College-Readiness Anticipated Skills for SAT/ACT/College Board

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Social Studies – Economics Lesson 2 – Economic Systems First Grading Period CURRICULUM GUIDE Essential Questions Essential Pre-requisite Skills  What are the three key economic questions that serve as the basis of production and consumption of goods and services?  Analyze a budget (3rd)  What is a working definition of a ‘system’, and how is this related to  Working understanding of the nature and attributes of a “system” (5th) economics?  Explain the ways resources, belief systems, economic factors, and political  What are advantages and disadvantages to each form of economy? decisions affect technology (6th)  What are the goals for economic systems?  How do the values of a society influence the importance of various economical goals? The Teaching and Learning Plan Instructional Model & Teacher Directions So students can… The teacher will… Use the resources found on the Social Studies website, Government Alive! Strategies and the Social Studies Framework to conduct daily instruction. Hook  Identify the three key economic questions of what to produce, how to produce, and for NOTE: Encourage students to look for articles that relate to economics to include in whom to produce. their Current Events Journal. Use these as opportunities for “Hooks”.  Explain why markets exist.  Daily: Upon entering the classroom, have a short problem or idea to graph  Describe how a centrally planned economy is organized. displayed on an overhead projector (found in the Transparency Resource  Interpret a circular flow model of a mixed economy and understand the limitations of Package). Begin the first two weeks by modeling an analysis of graphic the model. information, then gradually relinquishing independence to the students. When modeling, verbalize the steps as you draw. Clearly and properly label the axes, and always label the curves and changes in any graph. Soon, students must prepare their answer and be ready to share it with the class in about 5-7 minutes. Have students pair up and draw graphs on the board or provide blank overhead transparencies for the students to use when presenting. Be sure to ask for analysis: What is the relationship between the variables? Why? What caused the changes?  Guide students to analyze the news media by keeping a current events journal. Each week, find one article from a newspaper, news magazine, or Internet news site to analyze. The article should cover an important or controversial economic issue or event. Tape the article into the notebook and answer the following questions: (1) What is the subject of the article? (2) What is the article’s source? Who wrote it? How might the source affect the way the story was reported? (3) What is your overall impression of the coverage this news story? Which unanswered questions remain? What is missing? Is there any detectable bias? (4) What is your opinion about the issue or event covered in the article?  Systems: Provide a definition of a “system” (a group or set of parts that work together as a whole. A change in one part of a system affects the other parts). Students brainstorm as many examples of a “system” as possible, while a

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. recorder writes responses on the board. Relate this to the system of economics.  Three Questions Display Visual 1 to demonstrate the big picture of an economic system. Then provide visual examples (from newspapers, ads, commercials, etc.) of goods and services that are available in the American economy (such as cars, movies, food). Discuss who decided to produce the particular good or service, how it got produced, and for whom it was produced. Allow students to discover aspects of our own economic system.  Kinds of Economic Systems Display images of each type of economic system (Peruvian Andes, North Korea, Cuba, etc.). Generate a discussion addressing questions such as: Who has made the decisions about what to produce and how to produce it? What are positive features of this type of economy? What are negative features? What factors of production are being used and what are not significantly involved?  Economic Goals: Activity 1. In groups, students will discuss the five broad social goals of an economic system, but will evaluate the relative importance of each individually, then evaluate how the American system is achieving each goal today by assigning a letter grade.  The Free Market: Designate a desk on one side of the room as a “household” and a desk on the other side of the room as a “firm”. Have volunteers, holding labels that say “Goods and Services” and “Land, Labor, and Capital” act out the principles of circular flow. Students relate this to self-regulating nature of the market-place. What are some limitations of this model? (Does not depict transactions between households and between businesses. Ignores government and the “rest of the world” in the decision-making process. Does not explain how prices of products and resources are actually determined.)  Economic Systems in the Real World While the U. S. is considered closer to a market system, what elements of our governmental policies reflect aspects of a command economy (such as government oversight committees like the FDA, USDA, OSHA, and the SEC)?  Guided Practice  Analyze the societal values that determine how a country answers the three economic  Guide student reading of the chapter by using support transparencies to questions. graphically organize their learning.  Explain the characteristics of traditional, command, and market economies and  Support student analysis of graphic information by asking questions such as: describe the societal values that influence them. What is the purpose of the graph and what is its message? Who might this  Analyze a circular flow model of a free market economy. information be helpful for? How do the variables interact with one another? When  Understand the self-regulating nature of the marketplace. students probe for answers, think in terms of graphical analysis: Can you draw it?  Analyze the centrally planned economy of the former Soviet Union. Can you see your question in a graph?  Explain the rise of mixed economic systems.  Economic Goals: Activity 2.  Compare the mixed economies of various nations along a continuum between  Guided Reading of Chapter 2, Section 1: Use a tree map (Transparency B-3 is centrally planned and free market systems. blank and Transparency 2.1 has answers) to guide students’ understanding the four forms of economic systems.  The Free Market: Share the words of Adam Smith and the “Invisible Hand” http://plus.maths.org/issue14/features/smith/ . Lead a discussion to guide their understanding by asking questions such as: What is the “invisible hand” that Adam Smith describes? Explain how the “invisible hand” influences how a nation SAISD © 2008-09 – First Grading Period Economics- Initial Release Aug 08, V1 Page 11 of 47

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. answers the basic economic question. Who plays a similar role in a command economy? Provide information regarding the Soviet Union’s attempts to manage problems related to capitalism through utilizing a command economy during the worldwide depression of the 1930s – focusing on the rationale of this system and its final decline. What impact has this had on today’s global economy and environmental crises?  Economic Systems in the Real World After reading Sections 3 and 4, guide students to a deeper understanding of economic systems by reading an article (see below). During this lesson focus student thinking on the following questions: What are the trade-offs in changing from a traditional economy to a market economy? What are the opportunity costs? Share a BusinessWeek article to illustrate this concept: Distribute copies of articles such as the following two: http://www.globalpolicy.org/globaliz/econ/2004/1206shakingtrade.htm Shaking Up Trade Theory (guiding questions such as: How have these economies changed? On what sources of production had they been dependent? What forces of production are now being utilized? How are India and China addressing the three basic questions now? How does this impact other economies globally? What are impacts here in the US?) or read http://www.businessweek.com/bwdaily/dnflash/jan2005/nf2005016_1576_db017.h tm How India Sprang Into Action (guiding questions such as: Who decided what, how, and for whom goods and services were produce in Cuddalore after the tsunami? What kind of economic system does the journalist describe? What are the advantages of the economy described in the reading after a natural disaster?)  Comparing Economies Use the following Prentice Hall link to support students in comparing economies. http://www.phschool.com/social_studies/newstracker/lesson_support/lesson_plan s/comparing_economies.html  Economics Simulation (pages 48–49) in which students design an economic system from scratch as settlers on an island. Prepare and conduct the simulation. Facilitate thinking in groups by serving as a questioner. Support students in completing a decision-making grid. Independent Practice  Identify the advantages of a free market economy.  Economics Simulation Students discuss and debate the advantages to the various  Identify the problems of a centrally planned economy. economic systems and prepare to present their economic system to the class and  Understand the role of free enterprise in the economy of the United States. field questions.  Section Assessments, p. 27, 32, 38, 44.  Economic Profile: Adam Smith p. 33  Real-live Case Study: Russia in Crisis p. 39  Skills for Life: Building Flow Charts p. 45  Chapter 2 Assessment pages 46-47 Vocabulary: Resources  Economic system – a collection of all the ways a country or society decides how Textbook: to allocate its limited resources Prentice Hall, Economics: Principles in Action – Chapter 2, Sections 1 - 4  Traditional Economy – one which operates with little or no change over time Unit 1 Folder – an excellent source for both HOOK and GUIDED PRACTICE  Command Economy – the government makes centralized decisions about the  Guided Reading and Review production and distribution of goods  Economic Cartoons SAISD © 2008-09 – First Grading Period Economics- Initial Release Aug 08, V1 Page 12 of 47

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.  Market Economy – the people themselves make the fundamental economic  Economic Skills decisions by deciding what to buy with their money.  Vocabulary Practice  Mixed economy – contains elements of traditional, command, and market  Economic Detective economies  Section Quizzes  Continuum – a collection of points along a line; in relation to world economies, neither is one or the other of the models, but somewhere along a continuum. To Internet Resources some degree, every economic system today is a mixed economy.  Web lessons related to the topic:  Transitional economies – economies that are undergoing significant structural o To Buy or Not to Buy http://www.econedlink.org/lessons/index.cfm?lesson=EM552 changes from one part of the continuum to another. o Marketplace: Oil Is a Slippery Business  Self-interest incentive http://www.econedlink.org/lessons/index.cfm?lesson=EM259&page=teacher  Invisible Hand theory o “You Paid How Much for That Ticket?  Consumer sovereignty http://www.econedlink.org/lessons/index.cfm?lesson=EM91&page=teacher o Online Mayhem I: Metallica vs. Napster http://www.econedlink.org/lessons/index.cfm?lesson=EM186&page=teacher o The Economics of Recycling http://www.econedlink.org/lessons/index.cfm? lesson=EM218&page=teacher o Rationing Transplants: An Ethical Problem http://www.econedlink.org/lessons/index.cfm?lesson=EM132&page=teacher

Media Resources AIMS Digital Curriculum

Print Resources

Evidence of Learning Differentiation Interims/TAKS/Benchmarks College-Readiness Anticipated Skills for SAT/ACT/College Board What do you do for students who need extra a) 2004 AP Exam support? Which of the following is characteristic of a traditional Provide chapter outline notes by using Presentation Pro economy? CD-ROM to create an outline for the chapter for them to F Communities tend to be fast-growing. include in their Interactive notebooks. G They are usually based on light industrial production. What do you do for students who master the learning H They have a high standard of living. quickly? J Children tend to have the same jobs as their parents did.

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Social Studies – Economics Lesson 3 – American Free Enterprise First Grading Period CURRICULUM GUIDE Essential Questions Essential Pre-requisite Skills  What are the basic principles of the US free enterprise system?  Explain economic interdependence within and among communities (3rd)  What are the benefits of free enterprise in the US and how does the  Knowledge of the Constitution’s design of government and its safeguards (8th) Constitution protect this system?  Familiarity with the characteristics and benefits of the free enterprise system (8th)  What role do both the consumer and the government play within the system?  Explain the ways technology and scientific innovation affect U.S. development  How does government influence business cycles and promote economic (8th) strength?  What are the effects of technology on productivity?  How does the government provide public goods?  What are the main programs through which the government redistributes income? The Teaching and Learning Plan Instructional Model & Teacher Directions So students can… The teacher will… Use the resources found on the Social Studies website, Government Alive! Strategies and the Social Studies Framework to conduct daily instruction. Hook  Identify the roles of both the consumer and the  Students should routinely share articles and insights from their Current Events notebook. government in the US free enterprise system.  Daily: Upon entering the classroom, have a short problem or idea to graph displayed on an overhead  Explain how the government tracks and seeks to projector (found in the Transparency Resource Package). Begin the first two weeks by modeling an influence business cycles. analysis of graphic information, then gradually relinquishing independence to the students. When  Identify examples of public goods. modeling, verbalize the steps as you draw. Clearly and properly label the axes, and always label the  Identify programs through which the government curves and changes in any graph. Soon, students must prepare their answer and be ready to share it redistributes income. with the class in about 5-7 minutes. Have students pair up and draw graphs on the board or provide blank overhead transparencies for the students to use when presenting. Be sure to ask for analysis: What is the relationship between the variables? Why? What caused the changes?  Have students define “the land of opportunity” and provide examples of family or community members who started up small businesses. Inform them that they will learn how the Constitution protects these business efforts and how the consumer helps shape them. For a deeper discussion, ask students if they see any barriers for people in “the land of opportunity” and why these obstacles might be there.  See Figure 3.1 on p. 52 to stimulate discussion on the features of American Free Enterprise. Ask them to locate similar depictions of these features and include them in their Interactive Notebook.  Constitutional Protection – Pose the following statement: Everyone is fully responsible for their financial situation. If you work hard enough, you will have all the money you need. Ask students to reflect silently on this statement for 2 minutes, during which time, they can record their thoughts in their journal. Students then select the corner of the room that most accurately reflects their response to the situation (strongly agree; agree; disagree; strongly disagree). They should form a circle (if more than 8 students, form 2 circles). Guided Practice  Describe the tradition of free enterprise in the US and the  Guide student reading of the chapter by using support transparencies to graphically organize their constitutional protections that underlie it. SAISD © 2008-09 – First Grading Period Economics- Initial Release Aug 08, V1 Page 15 of 47

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. learning.  Analyze how the government promotes economic strength.  Support student analysis of graphic information by asking questions such as: What is the purpose of the  Analyze the effect of technology on productivity. graph and what is its message? Who might this information be helpful for? How do the variables interact  Analyze market failures. with one another? When students probe for answers, think in terms of graphical analysis: Can you draw it?  Describe the main programs through which the government Can you see your question in a graph? redistributes income.  Who’s Got Game Now? Distribute copies of the article from BusinessWeek to guide student understanding of the role of competition. Facilitate thinking with questions such as: How competitive is the game console industry? Why? How many companies are in the industry? What percentage of the market do they hold? What is the market structure of this industry? How did you decide? What specific characteristics did you take into account? Why isn’t the game console industry more competitive? What aspects of the industry affect the way the market operates?  Constitutional Protection – After forming their circles, give the group 10 minutes to discuss the following: “Why did you go to the response you did? How did you interpret and respond to the statement? Explain that each person should be able to talk. Request that each group select one person to keep notes and report back on behalf of the entire group after the discussion. When small groups report out, one person from each group can add things that they think might have been left out. As facilitator, your job is to ensure that each group has the opportunity to present their views while the other participants listen. Do not allow questions until that has happened. Then, open the floor for questions and comments. Use questions that raise dialogue between the groups, not seeking to resolve differences, but to draw them out, including hidden similarities or fundamentally different points of view. After each group has spoken, ask if anyone would like to change their group based on what they have heard. If anyone changes, ask them if they would like to share briefly why they switched. This exercise is as much about listening and how differences can often arise from misunderstanding as much as they can arise from genuine differences. Many people who go to the same corner will find they are there for very different reasons.  The Role of Government– Refer to Figure 3.2: Major Federal Regulatory Agencies on page 55. How might the free market fulfill the mission of any of these agencies?  Promoting Growth and Stability – Read the economic profile on Alice Rivlin. Generate student discussion of her views in relation to the Bush administration’s tax incentives program and the economic results from the payments to taxpayers. Read Section 2 and take the assessment in small groups such that all students come to consensus based on supporting their answers with textual evidence. Discuss questions 7 and 8.  Analyzing Primary Sources – Guide student analysis of the document, utilizing the questions on page 61. In Unit 1 folder, page 34, guide students to analyze the primary source from the 1950s to gain information about economic conditions during this period. Are there any similarities between the two? Are either of these similar to economic conditions today?

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Independent Practice  Explain the basic principles of the US free enterprise system.  Constitutional Protection - Reading pages 52 – 55, students take Cornell Notes about the Constitutional  Describe the roles of both the consumer and the government protections of free enterprise. What are key differences between the free market system and a centrally in the US free enterprise system. planned economic system? Infer advantages and disadvantages of each. Is the tradition of “open  Evaluate how the government allocates some resources by opportunity” a reality for all Americans? How important is the role of the government in the free market? managing externalities. Should it be expanded, limited or left as is? Why? What is the impact of economic concepts in the U.S.  Summarize the political debate on ways to fight poverty. Constitution on contemporary economic issues and policies? Cite specific examples either from the text or from current events to support your conclusions.  Section 1: 1. Angry Landowners turn Public Paths into Unhappy Trails – Refer to Source Articles folder for this article on pages 9-11. 2. Careers in Economics, Budget Analyst Unit 1 Folder, page 37. 3. Writing Assignment – Economic Assessment Rubric folder, pages 6-7  Section 2: 1. Determining Economic Growth – Refer to Math Practice Folder p. 3. 2. Economic Detective – Unit 1 Folder, p. 36 3. Graphing Data – Economics Assessment Rubrics Folder, pages 8-9 4. Mary Kay Ash - Case Studies in Free Enterprise Folder, pages 6-7  Section 3: 1. Position Paper – Economic Assessment Rubrics folder, pages 22-23  Section 4: 1. Graphing Data – Economic Assessment Rubrics folder pages 8-9 2. Economic skills – Unit 1 Folder page 34 3. Economic Cartoon - Unit 1 Folder page 38 Vocabulary: Resources  profit motive Textbook  open opportunity Prentice Hall, Economics: Principles in Action – Chapter 3, Sections 1 - 4  private property rights Unit 1 Folder – an excellent source for both HOOK and GUIDED PRACTICE  free contract  Guided Reading and Review  voluntary exchange  Economic Cartoons  competition  Economic Skills  interest group  Vocabulary Practice  public disclosure laws  Economic Detective  public interest  Section Quizzes  macroeconomics  microeconomics  gross domestic product (GDP) Primary Resources U.S. Constitution  business cycle  work ethic Internet Resources  technology  poverty threshold Media Resources  welfare AIMS Digital Curriculum  cash transfers  in-kind benefits

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Evidence of Learning Differentiation Interims/TAKS/Benchmarks College-Readiness Anticipated Skills for SAT/ACT/College Board What do you do for students who need extra 2006 TAKS  2008 AP support? Why did the U.S. government use rationing for some What do you do for students who master the learning foods and consumer goods during World War II? quickly? F to guarantee each civilian a minimum standard of living  Students create a chart detailing the role of in wartime government in increasing competition through researching antitrust legislation. G to keep sellers from raising prices on necessary goods H because the British government had also decided on rationing J to earn more money to support the military

The diagram above shows the production possibilities curves for two countries: Artland and Rayland. Using equal amounts of resources, Artland can produce 600 hats or 300 bicycles, whereas Rayland can produce 1,200 hats or 300 bicycles. (a) Calculate the opportunity cost of a bicycle in Artland. (b) If the two countries specialize and trade, which country will import bicycles? Explain. (c) If the terms of trade are 5 hats for 1 bicycle, would trade be advantageous for each of the following? (i) Artland (ii) Rayland (d) If productivity in Artland triples, which country has the comparative advantage in the production of hats?

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Social Studies – Economics Unit of Study – How Markets Work (4 weeks) First Grading Period – Unit 2 CURRICULUM OVERVIEW Big Idea Unit Rationale Enduring Understandings Many factors affect the way markets perform; supply and demand is one of the basic  Markets exist when buyers and sellers interact. This interaction determines market building blocks of the marketplace. The government intervenes in the market to protect prices and thereby allocates scarce goods and services. competition.  Competition among sellers lowers costs and prices, and encourages producers to produce more of what consumers are willing and able to buy. Lessons for this Unit  Competition among buyers increases prices and allocates goods and services to  Lesson 4: Demand those people who are willing and able to pay the most for them. o Understanding Demand  When individuals, regions, and nations specialize in what they can produce at the o Shift of the Demand Curve lowest cost and then trade with others, both production and consumption increase. o Elasticity of Demand  Effective decision-making requires comparing the additional costs of alternatives  Lesson 5: Supply with the additional benefits. Most choices involve doing a little more or a little less of o Understanding Supply something: few choices are all-or-nothing decisions. o Costs of Production Overarching Questions o Changes in Supply a) How does the law of demand work in the market system?  Lesson 6: Prices b) Why is the market system used so extensively? o Combining Supply and Demand c) How does the market system compare with alternatives used more extensively in o Changes in Market Equilibrium some other countries? o The Role of Prices d) When determining how and when to allocate scarce resources, how are decisions  Lesson 7: Market Structures made with respect to ethical dilemmas (such as the decision on who should receive o Perfect Competition a transplant)? o Monopoly o Monopolistic Competition and Oligopoly o Regulation and Deregulation TEKS TEKS Specificity - Intended Outcome (1) Citizenship. The student understands the rights and responsibilities of consumers in the U.S. free enterprise system. The student is expected to: ” I CAN” statements highlighted in yellow and italicized should be displayed (B) analyze the consequences of an economic decision made by an individual for students. consumer I can… 7) Economics. The student understands the interaction of supply, demand, and  (7A) Identify markets in which they have participated as a buyer and a seller and

s price. The student is expected to: describe how the interaction of all buyers and sellers influences prices. t

p A) identify the determinants that create changes in supply, demand, and price;  (1B) Predict how prices change when there is either a shortage or surplus of the e and product available. c

n (B) interpret a supply-and-demand graph using supply-and-demand schedules.  (1B) Predict how prices change when the number of buyers or sellers in a market o (19) History. The student understands economic ideas and decisions from the changes and explain how the incentives facing individual buyers and sellers are C past that have influenced the present and those of today that will affect the affected. future. The student is expected to:  (19D) Explain how they can benefit themselves and others by developing special (D) identify the contributions of entrepreneurs, past and present, such as Mary skills and strengths. Kay Ash, Andrew Carnegie, and Bill Gates.  (1B) Debate current issues in economics.  (7B) Create a demand schedule for an individual and a market.

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. □ □ □ assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as PowerStandards. Courseeligibleskillsas of (EOC) level. and grade All knowledge identified End are each assessments at – ©2008-09 PeriodGrading First SAISD

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evaluate economic-activity patterns using charts, tables, graphs, and maps;and charts,tables,graphs,and economic-activity patternsusing evaluate Social studies skills. The student communicates in written, oral, andvisual communicates inwritten,oral, Social studiesskills.Thestudent organize and appliescritical-thinking skillsto Social studiesskills.Thestudent statistical to written or visual using computer software as appropriate; and computer software asappropriate; statistical towritten orvisualusing to: forms. Thestudentisexpected represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the successfullyrequired to be mastered success inschool must need beyond. Power Standards andfor knowledge and essential high students skills represent the Economics- Initial Release Aug 08, V1 Aug Economics- Release Initial Evidence of Learning Evidence of I can…        ” I CAN” statements highlightedinyellow anditalicizedshouldbedisplayedI CAN” statements (23G) Explain how to calculate elasticity of demand. howtocalculateelasticityof (23G) Explain economic cartoons. (23A) Interpret data. (24C) Graph multi-flowcharts (23F) Interpret and citizens.and producers,savers,investors, effective decisionsasconsumers, (24D) Make primary sources. (23A) Analyze (23B) Interpret a demand graph using demand schedules. graphusingdemand (23B) Interpretademand for students. Page Page 21 of of 47 Social Studies – Economics Lesson 4 –Understanding Demand First Grading Period CURRICULUM GUIDE Essential Questions Essential Pre-requisite Skills  What is the law of demand?  Identify competitors in a community (3rd)  What are factors that affect demand other than price?  Generalize relationships between producers and consumers (5th)  What does the law of demand say about lower prices?  Explain how supply and demand affects U.S. consumers and producers (5th)  How does the change in price of one good affect demand for a related good?  Compare ways societies organize economic systems (6th)  How is it possible to calculate the elasticity of demand?  Explain the impact of scarcity on trade and economic interdependence (6th)  Identify the origins of capitalism, socialism, and communism (World History)  Compare the relationships of contemporary economic systems (World History) The Teaching and Learning Plan Instructional Model & Teacher Directions So students can… The teacher will… Use the resources found on the Social Studies website, Government Alive! Strategies and the Social Studies  Relate to economics in their daily lives. Framework to conduct daily instruction.  Hook  Students should routinely share articles and insights from their Current Events notebook.  Daily: Upon entering the classroom, have a short problem or idea to graph displayed on an overhead projector (found in the Transparency Resource Package). Begin the first two weeks by modeling an analysis of graphic information, then gradually relinquishing independence to the students. When modeling, verbalize the steps as you draw. Clearly and properly label the axes, and always label the curves and changes in any graph. Soon, students must prepare their answer and be ready to share it with the class in about 5-7 minutes. Have students pair up and draw graphs on the board or provide blank overhead transparencies for the students to use when presenting. Be sure to ask for analysis: What is the relationship between the variables? Why? What caused the changes?  Organize the class into groups of 6 to 8 students. Tell groups that each is to prepare and perform a skit that illustrates the law of demand. Give them time to create and practice their skits and then perform them for the class. Guided Practice  Explain the law of demand.  Guide student reading of the chapter by using support transparencies to graphically organize their learning.  Understand how the substitution effect and the  Support student analysis of graphic information by asking questions such as: What is the purpose of the graph income effect influence decisions. and what is its message? Who might this information be helpful for? How do the variables interact with one  Explain why the law of demand can only apply in a another? When students probe for answers, think in terms of graphical analysis: Can you draw it? Can you free market. see your question in a graph?  Analyze the primary source, “Memoirs of Extraordinary Popular Delusions” to understand the impact of demand on a country and its citizens during the 1500s. Complete a graphic organizer to demonstrate the series of events that led to fluctuations in both prices and quality of life. Access the document at http://www.phschool.com/atschool/primary_sources/memoirs_popular_delusions.html  Utilize the Skills for Life: Analyzing Tables, page 84, to facilitate analysis. Guide students to generate new information by adjusting data information.  Guide student understanding of the concept of markets and prices by having them complete several multi-flow chart graphic organizers (such as can be found in Chapter 4, Section 1 of the Section Reading Support SAISD © 2008-09 – First Grading Period Economics- Initial Release Aug 08, V1 Page 22 of 47

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Transparency System).  In small groups, students complete the Economic Cartoon activity in the Unit 2 folder, page 12. Have them suggest examples of other products that have not lasted long on the market because of low demand. Students will create their own cartoons for the products they have identified.  From the Economics Video Library, show “Home Sweet Home”. Their purpose for viewing will be to listen for how the income effect impacts the price of houses. Begin a discussion of the current housing market situation in San Antonio (or elsewhere). How can they research trends in housing prices over the last decade? What factors might have influenced these trends?  Organize the class into groups of three. Have each group work through the Case Studies in Free Enterprise activity on Howard Schultz. Ask them to find additional data on Starbuck’s and chart their findings. Independent Practice  Create a demand schedule for an individual  Begin collecting political cartoons and those from the comics that illustrate economic concepts for placement on and a market. a bulletin board. Relate to learning.  Interpret a demand graph using demand Section 1 schedules.  Graphing Data – Economics Assessment Rubrics folder pages 8-9   Economic Skills - Unit 2 folder page 8. Read a table and analyze the effects of a price increase on pizza sales.  Let students look through popular science magazines, such as Discover and Scientific American, for examples of tables that present information clearly. Students either cut, copy, or photocopy at least two tables and write a brief analysis of each, providing such information as the name of the table, its purpose, the kinds of information presented in the vertical columns and the horizontal rows, and the relationships among them. Section 2  Careers in Economics – Unit 2 folder, Buyer, page 11  Article Analysis –Source Articles Folder, “Walking on Clamshells” pages 12-14 Section 3  Write a Position Paper – Economics Assessment Rubrics Folder, pages 22-23  Economic Detective – Unit 2 folder, page 10  Analyze a Case Study – Case Studies in Free Enterprise folder, “Howard Schultz” pages 8-9 Vocabulary: Resources  demand Textbook  law of demand Prentice Hall, Economics: Principles in Action – Chapter 4, Sections 1 - 3  substitution effect  income effect Primary Resources  demand schedule U.S. Constitution  demand curve Internet Resources  ceteris paribus  normal good Related Lessons on the Web:  inferior good  Economics in the Headlines http://www.econedlink.org/lessons/index.cfm? lesson=EM317&page=teacher  complements  The Economics of Recycling http://www.econedlink.org/lessons/index.cfm?  substitutes lesson=EM218&page=teacher  elasticity of demand Media Resources  inelastic AIMS Digital Curriculum  elastic  unitary elastic See campus librarian for additional print and non-print resources.  total revenue

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Evidence of Learning Differentiation Interims/TAKS/Benchmarks College-Readiness Anticipated Skills for SAT/ACT/College Board What do you do for students who need extra support? The price and the quantity produced of most goods is determined by – What do you do for students who master the learning A the consumer’s perception of necessity quickly? B the interaction of supply and demand C the availability of substitutes for the goods D the quality of the goods that are produced

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Social Studies – Economics Lesson 5 – Supply First Grading Period CURRICULUM GUIDE Essential Questions Essential Pre-requisite Skills  What is the law of supply?  Identify competitors in a community (3rd)  What is the relationship between elasticity and time?  Generalize relationships between producers and consumers (5th)  What factors affect supply?  Explain how supply and demand affects U.S. consumers and producers (5th)  What is the difference between a change in the quantity supplied and a  Compare ways societies organize economic systems (6th) change in market supply?  Explain the impact of scarcity on trade and economic interdependence (6th)  What is the relationship among the factors of production and the supply of a  Identify the origins of capitalism, socialism, and communism (World History) good or service?  Compare the relationships of contemporary economic systems (World History)  What happens to the marginal product at each of the three stages of production?  At what point does adding resources have a negative rather than a positive effect?  What role does the government play with respect to productivity? The Teaching and Learning Plan Instructional Model & Teacher Directions So students can… The teacher will… Use the resources found on the Social Studies website, Government Alive! Strategies and the Social Studies Framework to conduct daily instruction.  Relate economic concepts to their daily lives. Hook  Analyze graphic information and generalize their understandings.  Students should routinely share articles and insights from their Current  Interpret economic cartoons. Events notebook.   Daily: Upon entering the classroom, have a short problem or idea to graph displayed on an overhead projector (found in the Transparency Resource Package). Begin the first two weeks by modeling an analysis of graphic information, then gradually relinquishing independence to the students. When modeling, verbalize the steps as you draw. Clearly and properly label the axes, and always label the curves and changes in any graph. Soon, students must prepare their answer and be ready to share it with the class in about 5-7 minutes. Have students pair up and draw graphs on the board or provide blank overhead transparencies for the students to use when presenting. Be sure to ask for analysis: What is the relationship between the variables? Why? What caused the changes?  Display transparency 5A depicting Pete’s Pastry. How has the price of Pete’s fresh turnip pie risen lately? How does this picture illustrate the law of supply?  Share the Background information “Market District to Market Phenomenon” on page 102 of the T.E. Generate a discussion among groups by asking questions such as: What issues affected supply and demand in this scenario? How were the problems of the Market District resolved? Can this happen anywhere? Relate this to a neighborhood you’re familiar with that has similar problems. What actions can a community take to turn it around similarly?

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. How does the location of a business impact its production (example: snowboards in San Antonio)?  Costs of Production Post the current minimum wage. Students decide if they want to maintain the wage or increase it, moving to the side of the room that represents their choice. Students pair up and discuss the reasons for their selection and record responses on the board.

Guided Practice  Organize concepts in graphic form.  Guide student reading of the chapter by using support transparencies to  Relate various forms of graphs to each other. graphically organize their learning.  Support student analysis of graphic information by asking questions such as: What is the purpose of the graph and what is its message? Who might this information be helpful for? How do the variables interact with one another? When students probe for answers, think in terms of graphical analysis: Can you draw it? Can you see your question in a graph?  Show students the video “Plummeting Prices” from the Economics Video Library, directing the students to watch for factors that influenced the changes in price and the effects of those changes. Students complete a graphic organizer such as a flowchart (Transparency G8) in order to  Costs of Production Have students return to their tables to discuss. Guide student thinking by asking questions such as: Who benefits from an increase in the wage? Should all employees be paid the same wage? How does wage affect buying power? In what ways might a higher minimum wage help the economy grow? How might a business respond to an increase in the wage? What decisions must be made in order to maintain profits?  The Plague of Plenty, 1932: Testimony of Oscar Ameringer Read the excerpt from the testimony from Oscar Ameringer during hearings before the House Subcommittee of the Committee on Labor. Guide students to mark their papers to support their understanding of its purpose. In what ways are the regions of the country economically interrelated? What are the impacts of overproduction and poverty on the economy? On families? What does Oscar Ameringer want the Subcommittee to do in response to his testimony? Access this document from http://www.phschool.com/atschool/primary_sources/plague_of_plenty.html Independent Practice Section 1  Analyze an Article – Unit 2 folder, “High and Dry”, pages 15-17  Analyze an Economic Cartoon – Unit 2 folder, page 23 Section 2  Writing assignment – Economics Assessment Rubrics folder, pages 6-7  Career in Economics – Unit 2 folder, “Store Manager”, page 22 Section 3  Analyze a Case Study – Case Studies in Free Enterprise folder, “Steven Spielberg”, pages 10-11

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Vocabulary: Resources  supply  law of supply Textbook  quantity supplied Prentice Hall, Economics: Principles in Action – Chapter 5, Sections 1 - 3  supply schedule  variable  market supply schedule Internet Resources Related Lessons on the Web:  supply curve  Collecting for Fun…and Profit? http://www.econedlink.org/lessons/index.cfm?  market supply curve lesson=EM553&page=teacher  elasticity of supply  National Parks: Only You Can Prevent the Coming Crisis  marginal product of labor http://www.econedlink.org/lessons/index.cfm?lesson=EM43&page=teacher  increasing marginal returns  Rationing Transplants: An Ethical Problem  diminishing marginal returns http://www.econedlink.org/lessons/index.cfm?lesson=EM132&page=teacher  fixed cost  Tapped Dry: How Do You Solve a Water Shortage?  variable cost http://www.econedlink.org/lessons/index.cfm?lesson=EM42&page=teacher  total cost  marginal cost  marginal revenue  operating cost Media Resources  subsidy AIMS Digital Curriculum  excise tax  regulation See campus librarian for additional print and non-print resources. Evidence of Learning Differentiation Interims/TAKS/Benchmarks College-Readiness Anticipated Skills for SAT/ACT/College Board What do you do for students who need extra 2004 10th Grade TAKS support? Which of the following is the best example of the law of What do you do for students who master the learning supply? quickly? F A sandwich shop increases the number of sandwiches they supply every day when the price is increased. Concerns over the wage you earn and the cost of living G A farmer increases the number of acres of wheat he in the area you live arise all the time. Investigate wage grows to supply a milling company. levels and cost of living expenses for an area or city where you think you may want to live in the future. H A catering company buys a new dishwasher to make Yahoo! Careers their work easier. The Minimum Wage J A milling company builds a new factory to process flour to export.

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Social Studies – Economics Lesson 6 – Prices First Grading Period CURRICULUM GUIDE Essential Questions Essential Pre-requisite Skills  How do supply and demand create balance in the marketplace?  Explain how supply and demand affects price (3rd)  What is the role of government in markets?  Explain how cost of production and selling price affects profits (3rd)  What factors create change in price?  Explain how supply and demand affects U.S. consumers (5th)  How does the market react when there is a shift in demand?  Define and explain primary, secondary, tertiary, and quaternary industries (6th)  What is the role of prices in a free market?  Describe ho changes in technology, transportation, and communication affect  What is the advantage of using prices to answer the three basic economic economic activities (World Geography) questions – what to produce, for whom and in what amounts?  Describe the characteristics of and explain how traditional, command, and market  What is the relationship between prices and the profit incentive? economies operate (World Geography)  How do buyers and sellers differ in the ways they respond to changes in prices? The Teaching and Learning Plan Instructional Model & Teacher Directions So students can… The teacher will… Use the resources found on the Social Studies website, Government Alive! Strategies and the Social Studies Framework to conduct daily instruction. Hook  Students should routinely share articles and insights from their Current Events notebook.  Daily: Upon entering the classroom, have a short problem or idea to graph (such as on page 126) displayed on an overhead projector. Students must prepare their answer and be ready to share it with the class in about 5-7 minutes. Have students pair up and draw graphs on the board or provide blank overhead transparencies for the students to use when presenting. Be sure to ask for analysis.  Given scenarios about rent control (such as a rent ceiling), students will analyze the graphs on Transparency 6E, “Rent Control”. What problem results from imposing a rent ceiling that is below the equilibrium price? How does removing the rent ceiling resolve the problem?  Given Transparency 6F, “Price Floors”. What is the equilibrium price, or wage, for labor in this market? At the equilibrium wage, how many workers are supplied and how many are demanded? Follow up with Transparency 6G, about price floors. Guided Practice  (3B) Identify how the government sometimes intervenes in  Guide students through the analysis of the primary document, “Message to Congress: Harry S markets to control prices. Truman”. What historical events led to a need for an economic recovery? What is Harry Truman’s  (4B) Explain ho supply and demand create balance in the plan and what is his rationale? What role does the government play in establishing a secure market place. economy? Access this document at  (7A) Identify the determinants that create changes in supply. http://www.phschool.com/atschool/primary_sources/truman_msg_to_congress.html.  (2B) Analyze the consequences of an economic decision  Shifts in Demand: Show Transparencies 6H, 6I, 6J, answering the questions on each made by a business. transparency. How does the rightward shift of the demand curve affect supply? Why? Ask students  (4B) Explain the benefits of the U.S. free enterprise system. to write an article for Toy Trends magazine describing the latest toy fad (real or imagined).  (15B) Describe the role of government in the U.S. free Encourage them to use the concepts they have learned to explain the nature of the fad. Encourage enterprise system. them to include a graph like the ones shown in the transparencies, distributing copies of the x/y Axis Graph graphic organizer on page 130.  The Advantages of Prices: Help students explore the benefits of a system based on free market SAISD © 2008-09 – First Grading Period Economics- Initial Release Aug 08, V1 Page 30 of 47

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. prices and compare it with a system that uses central planning to distribute resources. Help students understand the information in the table on Transparency 6N and then ask them to answer the questions on the transparency. Challenge students to create cartoons, illustrations, or symbols to describe each of the advantages of prices shown in the table, using the illustrated graphics in their textbook to help generate ideas. Independent Practice  Explain how supply and demand create balance in the  Write an editorial explaining whether they think that price ceilings in the form of rent control really help marketplace. the poor, citing specific examples  Explain how a market reacts to shifts in demand by moving to an  Writing assignment – Economics Assessment Rubrics folder, pages 6-7 new equilibrium.  Career in Economics – Unit 2 folder, “Financial Advisor”, page 33  Describe the relationship between prices and the profit incentive.  Analyze an Economic Cartoon – Unit 2 folder, page 34  Analyze an Article – Unit 2 folder, “Behavior Modification”, pages 18-20  Analyze a Case Study – Case Studies in Free Enterprise folder, “William Mow”, pages 12-13  Comparing Prices – Math Practice folder, page 5 Vocabulary: Resources  equilibrium Textbook Prentice Hall, Economics: Principles in Action – Chapter 6, Sections 1 - 3  disequilibrium   excess demand  excess supply Primary Resources  price ceiling Print Resources  price floor Internet Resources  rent control Related Lessons on the Web:  minimum wage  Marketplace: Price Increase or Price-Gouging? http://www.econedlink.org/lessons/index.cfm?lesson=EM508&page=teacher  surplus  What Do People Want to Wear? http://www.econedlink.org/lessons/index.cfm?  shortage lesson=EM458&page=teacher  search costs  I’ll Trade You a Bag of Chips, Two Cookies, and $60,000 for Your Tuna Fish  supply shock Sandwich http://www.econedlink.org/lessons/index.cfm?  rationing lesson=EM46&page=teacher  black market  Mad Cattlemen Sue Oprah http://www.econedlink.org/lessons/index.cfm?  spillover costs lesson=EM15&page=teacher

Evidence of Learning Differentiation Interims/TAKS/Benchmarks College-Readiness Anticipated Skills for SAT/ACT/College Board What do you do for students who need extra 2004 AP support? How a change in prices will affect total revenue for a Provide chapter outlines and support student chapter company is determined by – reading with graphic organizers. A the consumers’ income

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.  Research the history of the minimum wage, the C values of elasticity events that preceded the mandate in 1938. How has the purchasing power changed over time since D elasticity of demand then?

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Social Studies – Economics Lesson 7 – Market Structures First Grading Period CURRICULUM GUIDE Essential Questions Essential Pre-requisite Skills  In a perfectly competitive market, what are the four conditions in place?  Identify competitors in a community (3rd)  What common barriers prevent firms from entering a market?  Generalize relationships between producers and consumers (5th)  What are the characteristics of a perfectly competitive market?  Explain how supply and demand affects U.S. consumers and producers (5th)  What are the characteristics (and some examples of) a monopoly?  Compare ways societies organize economic systems (6th)  How are monopolies formed?  Explain the impact of scarcity on trade and economic interdependence (6th)  What are the characteristics of monopolistic competition?  Identify the origins of capitalism, socialism, and communism (World History)  What are the characteristics (and some examples of) an oligopoly?  Compare the relationships of contemporary economic systems (World History)  What is the role of government in protecting competition?  What effects does deregulation have on certain industries? The Teaching and Learning Plan Instructional Model & Teacher Directions So students can… The teacher will… Use the resources found on the Social Studies website, Government Alive! Strategies  List two common barriers that prevent firms from entering a market. and the Social Studies Framework to conduct daily instruction.  Describe characteristics and give examples of a monopoly. Hook  Describe characteristics and give examples of monopolistic competition.  Students should routinely share articles and insights from their Current Events  List three market practices that the government regulates of bans to protect notebook. competition.  Daily: Upon entering the classroom, have a short problem or idea to graph displayed on an overhead projector. Students must prepare their answer and be ready to share it with the class in about 5-7 minutes. Have students pair up and draw graphs on the board or provide blank overhead transparencies for the students to use when presenting. Be sure to ask for analysis.  Guided Practice / Multiple activities to choose from  Describe the four conditions that are in place in a perfectly competitive market.  Guide students through the analysis of the primary document, “The Lords of  Describe prices and output in a perfectly competitive market. Industry (1884)” by the journalist Henry Demarest Lloyd. What are his views on  Describe how monopolies are formed, including government monopolies. monopolies and why? What impact does a monopoly have on other business  Understand how firms in a monopolistically competitive market set output. sectors? What market conditions were in place such that a monopoly could be  Describe characteristics and give examples of oligopoly. created? Access this document at  Understand how firms use market power. http://www.phschool.com/atschool/primary_sources/lords_of_industry.html.  Define deregulation, and list it effects on several industries.  Perfect Competition Perfect competition requires that buyers be well informed about products. Assume that you are about to buy a new car or truck. Gather and analyze information from the Internet on three different models. Then make an informed decision about which one to buy. Access the activity at http://www.phschool.com/atschool/econ/2003/Student_Area/ECON_SC7_ACT_in dex.html.  Monopolies - Find two cases in which the federal government has challenged possible monopolies. How did the government define these companies as monopolies? Access the activity at SAISD © 2008-09 – First Grading Period Economics- Initial Release Aug 08, V1 Page 34 of 47

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. http://www.phschool.com/atschool/econ/2003/Student_Area/ECON_SC7_ACT_in dex.html.  Monopolistic Competition and Oligopoly Cartels, aside from OPEC, are not seen often in today's world. This has not always been the case. Choose one historical cartel, and report on how it functioned. Access the activity at http://www.phschool.com/atschool/econ/2003/Student_Area/ECON_SC7_ACT_in dex.html.  Regulation and Deregulation Regulation and deregulation in the public utility market (gas, electric, telephone) is intended to help you as a consumer by providing broader selection and lower rates. Research utility deregulation, and find out how it will affect you as a future consumer. Access this activity at http://www.phschool.com/atschool/econ/2003/Student_Area/ECON_SC7_ACT_in dex.html. Independent Practice  List two common barriers that prevent firms from entering a market.  Have students work with partners to read the information under the heading  Describe characteristics and give examples of a monopoly. “Government Monopolies.” After they have read the material, ask partners to  Describe characteristics and give examples of monopolistic competition. explain to each other the way in which these monopolies are formed. The have  List three market practices that the government regulates of bans to protect students show their understanding of the material by creating a captioned poster competition. or a graphic that illustrates the ways in which the government extends power.  Describe the four conditions that are in place in a perfectly competitive market.  Economic Skills, Unit 2 folder, page 35  Describe prices and output in a perfectly competitive market.  Construct a Position Paper, Economics Assessment Rubrics folder, pages 22-23  Describe how monopolies are formed, including government monopolies.  Careers in Economics, Unit 2 folder, “Regional Sales Manager”, page 46  Understand how firms in a monopolistically competitive market set output.  Analyze an Economic Cartoon, - Unit 2 folder, page 47  Describe characteristics and give examples of oligopoly.  Playing Oligopoly, Source Articles folder, pages 21-23  Understand how firms use market power.  Participate in a Debate, Economic Assessment Rubrics folder, pages 14-15  Define deregulation, and list it effects on several industries.  Be an Economic Detective, Unit 2 folder, page 45  Analyze a Case Study, Case Stu Vocabulary:  perfect competition  commodity  barrier to entry  imperfect competition  start-up costs  monopoly  economies of scale  natural monopoly  government monopoly  patent  franchise  license  price discrimination  market power  monopolistic competition  differentiation

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.  nonprice competition  oligopoly  price war  collusion  price fixing  cartel  predatory pricing  antitrust laws  trust  merger  deregulation Evidence of Learning Differentiation Interims/TAKS/Benchmarks College-Readiness Anticipated Skills for SAT/ACT/College Board What do you do for students who need extra According to the section titled “Government Monopolies” 2004 AP Exam support? in Chapter 7, which of the following might the government use to encourage firms to research and develop new Assume that a profit-maximizing firm in a monopolistically products? competitive industry is in a long-run equilibrium. What do you do for students who master the learning A. Licenses to control specific resources a) Draw a correctly labeled quickly? Use LRE lesson to reinforce lesson: B. Patents for a specific length of time graph that shows the profit-maximizing firm’s price and C. Franchises to sell goods output. D. Restriction on the number of firms

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Social Studies – Economics Unit of Study – Business and Labor First Grading Period – Unit 3 CURRICULUM OVERVIEW Big Idea Unit Rationale Enduring Understandings  Institutions are organized such that they can work collectively to maintain Businesses play a central role in a market economy, providing the goods and services competition in the market economy. we use everyday. Supply and demand for labor interact to result in a market rate of Overarching Questions wages for each job in the economy.  What roles do business firms play in a market economy? Lessons for this Unit  What’s the difference between a firm’s total sales and its net income? Lesson 8: Business Organizations  How are wages determined?  Sole Proprietorships  What makes each type of business distinct, and what are the advantages of each?  Partnerships  How do mergers affect business firms?  Corporations, Mergers, and Multinationals  What are the requirements for starting a sole proprietorship?  Other Organizations  What advantages do corporations have in terms of their ability to expand? Lesson 9: Labor  With all the different ways to do business, how do entrepreneurs decide on a form  Labor Market Trends for a new venture?  Labor and Wages  How do qualifications, or the lack of them, affect one’s options in the labor market?  Organized Labor TEKS TEKS Specificity - Intended Outcome s

t (2) Citizenship. The student understands the rights and responsibilities of businesses

p in the U.S. free enterprise system. The student is expected to: ” I CAN” statements highlighted in yellow and italicized should be displayed e

c (A) analyze the economic rights and responsibilities of businesses; for students. n (B) analyze the consequences of an economic decision made by a business; I can… o

C (C) analyze the ethics policy of a selected business; and  (4ab; 9ab) explain the characteristics of sole proprietorships and corporations (D) identify and evaluate ordinances and regulations that apply to the establishment  (4ab; 9ab) analyze the advantages and disadvantages of sole proprietorships, of various types of businesses. partnerships, and corporations (3) Citizenship. The student understands the right to own, use, and dispose of private  (4ab; 9ab) compare and contrast the different types of partnerships property. The student is expected to:  (4ab; 9ab) compare and contrast corporate combinations (A) analyze an example of the responsible purchase, use, or disposal of personal  describe the role of multinational corporations and business property; and  (3ab) understand how a business franchise works (B) identify and evaluate examples of restrictions that the government places on the  (3ab) identify the different types of cooperative organizations use of business and individual property.  (2abcd) understand the purpose of nonprofit organizations, including 4) Economics. The student understands the basic principles of the U.S. free professional and business organizations. enterprise system. The student is expected to: (B) explain the benefits of the U.S. free enterprise system including individual  (16b) describe how trends in the labor force are tracked freedom of consumers and producers, variety of goods, responsive prices, and  (2d; 15ab) explain how laws against wage discrimination affect wage levels investment opportunities.  describe other actors affecting wages, such as minimum wage and workplace (9) Economics. The student understands types of business ownership and types of safety laws market structures. The student is expected to:  (2abcd) describe why historically some American workers have joined labor (A) explain the characteristics of sole proprietorships, partnerships, and corporations; unions (B) analyze the advantages and disadvantages of sole proprietorships, partnerships,  (19b) trace the history of the labor movement in the United States and corporations;  (19c) analyze reasons for the decline of the labor movement  (4b) explain how labor and management negotiate contracts

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. (11) Economics. The student understands traditional, command, and market economic systems. The student is expected to: ” I CAN” statements highlighted in yellow and italicized should be displayed (A) explain the characteristics of sole proprietorships, partnerships, and corporations; for students. (B) analyze the advantages and disadvantages of sole proprietorships, partnerships, I can… and corporations; and (C) describe characteristics and give examples of pure competition, monopolistic  (23F) Evaluate economic-activity patterns using charts, tables, graphs, and competition, oligopoly, and monopoly. maps. (15) Government. The student understands the role that the government plays in the  (27A) Give examples of types of economic information available as a result of U.S. free enterprise system. The student is expected to: technological innovations. (A) describe the role of government in the U.S. free enterprise system; and  (23A) Analyze information by sequencing, categorizing, identifying cause-and- (B) evaluate government rules and regulations in the U.S. free enterprise system. effect relationships, comparing, contrasting, finding the main idea, (19) History. The student understands economic ideas and decisions from the past summarizing, making generalizations and predictions, and drawing inferences that have influenced the present and those of today that will affect the future. The and conclusions. student is expected to:  (24D) Create written, oral, and visual presentations of social studies (D) identify the contributions of entrepreneurs, past and present, such as Mary Kay information. Ash, Andrew Carnegie, and Bill Gates  (25A) Use a problem-solving process to identify a problem, gather information, (23) Social studies skills. The student applies critical-thinking skills to organize and list and consider options, consider advantages and disadvantages, choose and use information acquired from a variety of sources including electronic technology. implement a solution, and evaluate the effectiveness of the solution. The student is expected to:  (25B) Use a decision-making process to identify a situation that requires a (A) analyze information by sequencing, categorizing, identifying cause-and-effect decision, gather information, identify options, predict consequences, and take relationships, comparing, contrasting, finding the main idea, summarizing, making action to implement a decision. generalizations and predictions, and drawing inferences and conclusions; (F) evaluate economic-activity patterns using charts, tables, graphs, and maps; (24) Social studies skills. The student communicates in written, oral, and visual forms. The student is expected to: (A) use social studies terminology correctly;

s (D) create written, oral, and visual presentations of social studies information. l l

i (25) Social studies skills. The student uses problem-solving and decision-making k skills, working independently and with others, in a variety of settings. The student is S expected to: (A) use a problem-solving process to identify a problem, gather information, list and consider options, consider advantages and disadvantages, choose and implement a solution, and evaluate the effectiveness of the solution; and (B) use a decision-making process to identify a situation that requires a decision, gather information, identify options, predict consequences, and take action to implement a decision.

Evidence of Learning □ Given a political cartoon related to economics, students will interpret and describe the cartoonist’s perspective and provide a reflection on its validity, citing specific examples with 80% accuracy. □ Given a flow chart, students will organize information about how a business might grow, writing descriptions and examples for each cell in the chart, with 80% accuracy. □ Given a role in a scenario about becoming an entrepreneur, students will invest a set amount of money, and work collaboratively to present a plan to the class, with 80% accuracy.

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Social Studies – Economics Lesson 8 – Business Organizations First Grading Period CURRICULUM GUIDE Essential Questions Essential Pre-requisite Skills  What role do businesses play in a market economy?  Identify competitors in a community (3rd)  How are businesses financed and how do they make money?  Generalize relationships between producers and consumers (5th)  How do mergers affect firms?  Explain how supply and demand affects U.S. consumers and producers (5th)  What is the main difference between a sole proprietorship and a  Compare ways societies organize economic systems (6th) partnership?  Explain the impact of scarcity on trade and economic interdependence (6th)  What advantages do corporations have in raising capital and in their  Identify the origins of capitalism, socialism, and communism (World History) ability to expand?  Compare the relationships of contemporary economic systems (World History) The Teaching and Learning Plan Instructional Model & Teacher Directions So students can… The teacher will… Use the resources found on the Social Studies website, Government Alive! Strategies Understand how a business franchise works. and the Social Studies Framework to conduct daily instruction. Identify the different types of cooperative organizations. Hook: Understand the purpose of nonprofit organizations, including professional and  Students should routinely share articles and insights from their Current Events business organizations. notebook.  Daily: Upon entering the classroom, have a short problem or idea to graph displayed on an overhead projector. Students must prepare their answer and be ready to share it with the class in about 5-7 minutes. Have students pair up and draw graphs on the board or provide blank overhead transparencies for the students to use when presenting. Be sure to ask for analysis.  Ask students to look in newspapers, in magazines, or online to find the cheapest price for a personal computer including a monitor. Why are there variations in cost?  Utilize the Presentation Pro CD-ROM with animated graphics to enhance key concepts. 

Guided Practice / Multiple activities to choose from  Explain the characteristics of sole proprietorships.  Divide the readings of Chapter 8 among groups of students (jigsaw) and have  Compare and contrast the different types of partnerships. each prepare a presentation of their section for the class during a gallery walk.  Explain the characteristics of corporations.  Make a three-column chart with the headings “Sole Proprietorship,” “Partnership,”  Compare and contrast corporate combinations. and “Corporation.” Divide each column in half. In the top half, explain ho that form  Describe the role of multinational corporations. of business is different from the other two. In the bottom half, explain what it has in common with at least one of the other two.  Guide students through the analysis of the primary document, “Sherman Antitrust Act”. What was the purpose of the legislation? Why was it economically necessary? What provisions in the Constitution was it addressing? How did the act benefit the economy? Access this document at http://www.phschool.com/atschool/primary_sources/sherman_antitrust_act.html. SAISD © 2008-09 – First Grading Period Economics- Initial Release Aug 08, V1 Page 40 of 47

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.  Child Labor Using the Wall Street Journal Classroom Edition, article "Trading Places: Brazilian Program Tries to Put Child Laborers Back in School" by Matt Moffett, to examine the 1997 amendment to a trade law that banned imports made with child labor. Respond to the question: Should the U.S. ban juice imports from Brazil? Using the article for textual support, find arguments both for and against a ban.  Case Study: “How Do Nonprofits Change With the Times?” How is a nonprofit organization similar to a for-profit business? How is it different? How do nonprofit organizations raise money to provide services? Create a T-Chart outlining various nonprofit agencies on one side and its purpose on the other (such as the American Red Cross, American Medial Association, Council for Urban Economic Development, Literacy Volunteers of America, the Nature Conservancy, etc.). Using the Internet or other resources, find out how these organizations raise money and how much of every dollar goes to its intended purpose.  Access the Prentice Hall website for Internet activities aligned with each section of the chapter. http://www.phschool.com/atschool/econ/2003/Student_Area/ECON_SC8_ACT_in dex.html  Simulation: “Be an Entrepreneur!” Each group of 4-6, will serve as a separate business partnership and choose a name for their company. With $3,000 of start- up capital and determine what their expenses will be. Page 208-209. Independent Practice  Analyze the advantages and disadvantages of a sole proprietorship.  Suppose a friend asked you for advice about starting a new business. What type  Analyze the advantages and disadvantages of partnerships. of business organization would you suggest to your friend? Write a letter that  Analyze the advantages and disadvantages of incorporation. gives your recommendation and explains why you made it. What advice would you give your friend about the best way to minimize the risks of starting a new business?  Writing assignment – Economics Assessment Rubrics folder, pages 6-7  Career in Economics – Unit 3 folder, “Business Proprietor”, page 13  Analyze an Economic Cartoon – Unit 3 folder, page 14  Analyze an Article – Unit 3 folder, “Crossing Borders”, pages 24-26  Analyze a Case Study – Case Studies in Free Enterprise folder, “Lloyd Ward”, pages 16-17 Vocabulary: Resources  business organization Textbook  sole proprietorship  business license Prentice Hall, Economics: Principles in Action – Chapter 8, Sections 1 - 4  zoning law  liability Related Lessons on the Web:  fringe benefit  Where Did All the Money Go? The Great Depression Mystery  partnership http://www.econedlink.org/lessons/index.cfm?lesson=EM558&page=teacher  general partnership  The Collapse of Corporate Giants http://www.econedlink.org/lessons/index.cfm? lesson=EM391&page=teacher  limited partnership  Worker Safety: The Triangle Fire Legacy  limited liability partnership (LLP) http://www.econedlink.org/lessons/index.cfm?lesson=EM542&page=teacher  Uniform Partnership Act (UPA) SAISD © 2008-09 – First Grading Period Economics- Initial Release Aug 08, V1 Page 41 of 47

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.  assets  corporation  stock Media Resources  closely held corporation AIMS Digital Curriculum  publicly held corporation  bond  certificate of incorporation  dividend  horizontal merger  vertical merger  conglomerate  multinational corporation (MNC) Evidence of Learning Differentiation Interims/TAKS/Benchmarks College-Readiness Anticipated Skills for SAT/ACT/College Board What do you do for students who need extra support? Provide charts and graphics that explain clearly the similarities and differences among the types of partnerships.

What do you do for students who master the learning quickly? Given a Copy of Texas’ Uniform Partnership Act, summarize how partnerships may be formed or dissolved, relationships between partners, or mergers with other businesses. Prepare visuals to accompany a presentation.

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. Social Studies – Economics Lesson 9 – Labor First Grading Period CURRICULUM GUIDE Essential Questions Essential Pre-requisite Skills  Who constitutes the labor market in the US?  Understand the concept of a labor work force (8-11)  What factors affect the supply of labor?  Understand the concept of supply and demand (6-11)  What factors affect the demand of labor?  Understand the role of technology on economies. (6-11)  What role does wage play in the size and location of a labor source?  How do the laws of supply and demand affect wages?  How do laws against wage discrimination affect wage levels?  How do labor and management negotiate contracts?  What role does education play in labor markets?  How has the labor movement impacted the workplace?  How is the modern workforce changing as a result of technology? The Teaching and Learning Plan Instructional Model & Teacher Directions So students can… The teacher will… Use the resources found on the Social Studies website, Government Alive! Strategies  Identify and explain trends in the wages and benefits paid to U.S. workers. and the Social Studies Framework to conduct daily instruction.  Understand the connection between wages and skill levels. Hook:  Students should routinely share articles and insights from their Current Events notebook.  Daily: Upon entering the classroom, have a short problem or idea to graph displayed on an overhead projector. Students must prepare their answer and be ready to share it with the class in about 5-7 minutes. Have students pair up and draw graphs on the board or provide blank overhead transparencies for the students to use when presenting. Be sure to ask for analysis. Section 1:  Using the web site of the Bureau of Labor and Statistics, click the tab for Databases and Tables. Under the Unemployment heading, select statistics to generate a table. Present this information to the students and ask them to look for trends in the data and to speculate on causes for these trends. Direct them to conduct their own research at the website. Section 2:  Designate two corners of the room as either “Agree” or “Disagree”. Pose the following statement: Wages should be based solely on the laws of supply and demand. Students select a corner, forming circles of about 6-8 students each, and listen actively to the rationale of each student. Section 3  Guided Practice / Multiple activities to choose from  Describe how tends in the labor force are tracked.  Guide students through the analysis of the primary document, “Report on the  Explain how laws against wage discrimination affect wage levels. Chicago Strike of June – July 1894: Testimony of Thomas Heathcoate”. What  Describe other actors affection wages, such as minimum wage and workplace SAISD © 2008-09 – First Grading Period Economics- Initial Release Aug 08, V1 Page 44 of 47

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards. conditions influenced the desire to strike? “Why did mediation fail? What is safety laws. the economic perspective of the Pullman company? Why might a company  Describe why historically some American workers have joined labor unions. be opposed to employees joining a union? Why might a labor force find it  Trace the history of the labor movement in the United States. necessary to organize and form a union? What is the purpose of a union?  Explain how labor and management negotiate contracts. What effects did the strike have on the nation’s economy? Access this document at http://www.phschool.com/atschool/primary_sources/report_chicago_strike.ht ml. Section 1  Provide computer access to students so they can visit http://www.bls.gov/bls/newsrels.htm to analyze current data on employment and the labor force. What fluctuations have occurred? What economic conditions might be causing this? Are certain regions of the country experiencing more unemployment than others? Are any industries particularly contributing to and/or impacted by unemployment? Section 2  As a group, prepare an argument to be used in a debate with someone who took the opposite view. Be sure to provide facts and logical arguments in support of your position. Refer to your text for further support. Section 3  Should Government Employees Be Allowed to Strike? Referring to the air- traffic controllers’ strike of 1981, review the case study to analyze the economic impact of the strike. http://www.phschool.com/atschool/econ/2003/Student_Area/ECON_SC9_CA SE_index.html Do you agree with the government’s response to the strike or not? Why?  Follow the directions below to help you complete the Take It to the NET activity on page 234 of your textbook. Visit the Labour and Business History Web site at the WWW Virtual Library. Click on the Labor History link in the Resources category to access sites on historic and present-day labor conflicts. Browse through the sites until you find a labor conflict that interests you. Write a summary of the conflict identifying the major participants, the position of each side, techniques used to resolve the conflict, and the outcome of the situation. For more information on labor conflicts, visit the following sites: Sources in U.S. Women's Labor History http://www.nyu.edu/library/bobst/research/tam/women/cover.html Child Labor Project at Ohio State University http://history.osu.edu/Projects/ChildLabor/MrCoalsStory Illinois Labor History Sites http://www.kentlaw.edu/ilhs/ilmap.htm  Independent Practice  Analyze past and present occupational trends.  Writing assignment – Economics Assessment Rubrics folder, pages 6-7  Analyze the relationship between supply and demand in the labor market.  Be an Economic Detective – Unit 3 folder, page 23  Analyze reasons for the decline of the labor movement.  Career in Economics – Unit 3 folder, “Labor Relations Specialist”, page 24  Analyze an Economic Cartoon – Unit 3 folder, page 25

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.  Analyze an Article – Unit 3 folder, “Crossing Borders”, pages 24-26  Analyze a Case Study – Case Studies in Free Enterprise folder, “Craig McCaw”, pages 18-19

Vocabulary: Resources  labor force Textbook  learning effect Prentice Hall, Economics: Principles in Action – Chapter 9, Sections 1 - 3  screening effect  contingent employment Print Resources  productivity  equilibrium wage Community Resources  unskilled labor Internet Resources  semi-skilled labor Related Lessons on the Web:  skilled labor  Wages and Me http://www.econedlink.org/lessons/index.cfm?  professional labor lesson=EM305&page=teacher  glass ceiling  A Case Study: Employment and the Unemployment Rate – February 1, 2008  labor union http://www.econedlink.org/lessons/index.cfm?lesson=EM754&page=teacher  featherbedding

See campus librarian for additional print and non-print resources.

Evidence of Learning Differentiation Interims/TAKS/Benchmarks College-Readiness Anticipated Skills for SAT/ACT/College Board What do you do for students who need extra support?

What do you do for students who master the learning quickly? Research the history of the first federal law in the United States to regulate child labor, the Keating-Owen Act, effective in 1916. Two years later, it was declared unconstitutional. Why? Examine the photographs taken by Lewis Wickes Hine and prepare a multi-media presentation.

Power Standards represent the essential knowledge and skills students need for success in high school and beyond. Power Standards must be mastered to successfully pass the required assessments at each grade level. All End of Course (EOC) eligible knowledge and skills are identified as Power Standards.