Horizontal Curriculum Map by 3-Week Block COURSE: Economics
Block / Common Core Standard(s) from engage New York / Topic(s)/Essential Question(s) / Content/Materials / Assessments / Academic Vocabulaty /
1A / Chapter 1
12.E1a
12.E2a
12.E2b
12.E2c
12.E1a
12.E1b
12.E2a
12.E2b
12.E2a
Chapter 2
12.E2a
12.E2b
12.E2c
12.E3c
Chapter 3
12.E4a
12.E3a-e / Planet Money: Lebron James is Underpaid. An introduction to economic choices
Chapter 1 – How can we make the best economic choices?
How does scarcity force people to male economic choices?
How does opportunity cost affect decision making?
How does a nation decide what and how much to produce?
Chapter 2 – How does a society decide who gets what goods and services?
What goals and values affect how a society answers the key economic questions?
What are the characteristics of a free market economy?
What are the characteristics of a centrally planned economy?
What are the characteristics of a mixed economy?
Chapter 3 – What role should government play in a free market economy?
What are the benefits of free enterprise?
How does the US government encourage growth and stability?
Why does a society provide public goods?
How does government help the poor?
H / Chapter 1
Chapter 2
Chapter 3
Planet Money: North Korea’s Illegal Economy: Role of Governments in Economy / Commentary: reflection on major issues in the article
Section assessments, chapter review
Chapter test comes from bank with above types of problems
Essay: Is free-enterprise necessarily the best? / Chapter 1
Need, want, goods, services, scarcity, economics, shortage, entrepreneur, factors of production, land, labor, capital, physical capital, human capital, trade-offs, guns or butter, opportunity cost, thinking at the margin, cost/benefit analysis, marginal cost, marginal benefit, production possibilities curve, production possibilities frontier, efficiency, underutilization, law of increasing costs
Chapter 2
Market, specialization, free market economy, factor market, product market, self-interest, incentive, competition, invisible hand, consumer sovereignty, laissez-faire, private property, mixed economy, economic transition, privatization, free enterprise system. Centrally planned economy, command economy, socialism, communism, authoritarian.
Chapter 3
Profit motive, open opportunity, legal equality, private property rights, free contract, voluntary exchange, interest group, eminent domain, public interest, public disclosure laws, macroeconomics, microeconomics, gross domestic product, business cycle, referendum, obsolescence, patent, copyright, work ethic, public good, public sector, private sector, infrastructure, free rider, market failure, externality, poverty threshold, welfare, cash transfers, in-kind benefits, grant
1B / Chapter 4
12.E.2a
12.E2b
12.E2c
Chapter 5
12.E2a
12.E2b
12.E2c
Chapter 6
12.E.2a
12.E2b
12.E2c / Chapter 4 – What is the law of demand?
How does the law of demand affect the quantity demanded?
Why does the demand curve shift?
What factors affect elasticity of demand?
Chapter 5 – What is the law of supply?
How does the law of supply affect the quantity supplied?
How can a producer maximize profits?
Why does the supply curve shift?
Chapter 6 – What is the right price?
What factors affect prices?
What is equilibrium?
How do changes in supply and demand affect equilibrium?
What roles do prices play in a free market? / Chapter 4
Chapter 5
Chapter 6
The Atlantic: Why are College Textbooks so Absurdly Expensive? / Section assessments, chapter review
Chapter test comes from bank with above types of problems / Chapter 4
Demand, law of demand, substitution effect, income effect, demand schedule, market demand schedule, demand curve, ceteris paribus, normal good, inferior good, demographics, complements, substitutes, elasticity of demand, inelastic, elastic, unitary elastic, total revenue
Chapter 5
Supply, law of supply, quantity supplied, supply schedule, variable, market supply schedule, supply curve, market supply curve, elasticity of supply, marginal product of labor, increasing marginal returns, diminishing marginal returns, fixed cost, variable cost, total cost, marginal cost, marginal revenue, average cost, operating cost, subsidy, excise tax, regulation
Chapter 6
Equilibrium, disequilibrium, shortage, surplus, price ceiling, rent control, price floor, minimum wage, inventory, fad, search costs, supply shock, rationing, black market
1C / Chapter 7
12.E3c
12.E3d
Chapter 8
12.E3c
12.E3d
Chapter 9
12.E2c
12.E3a
12.E3b
12.E3c
12.E3d
12.E3e / Chapter 7 – How does competition affect your choices?
What are the characteristics of perfect competition?
What are the characteristics of a monopoly?
What are the characteristics of monopolistic competition and oligopoly?
Why does the government regulate competition?
Planet Money: Mavericks, Monopolies and Beer
Chapter 8 – Why do some businesses succeed and others fail?
What are the risks and benefits of a sole proprietorship?
What are the risks and benefits of a partnerships and franchises?
What are the risks and benefits of a corporation?
How are some businesses organized to help others?
Chapter 9 – How can workers best meet the challenges of a changing economy?
How do economic trends affect workers?
Why do some people earn more than others?
How do labor unions support the interests of workers? / Chapter 7
Chapter 8
Chapter 9
Planet Money: Mavericks, Monopolies and Beer / Section assessments, chapter review
Chapter test comes from bank with above types of problems
Investigative Essay: Research Businesses, / Chapter 7
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, nonprice competition, oligopoly, price war, collusion, price fixing, cartel, predatory pricing, antitrust laws, trust, merger, deregulation
Chapter 8
Sole proprietorship, business organization, business license, zoning laws, liability, fringe benefits, partnership, general partnership, limited partnership, limited liability partnership, articles of partnership, assets, business franchise, royalties, corporation, stock, closely held corporation, publically held corporation, bond, certificate of incorporation, dividend, limited liability corporation, horizontal merger, vertical merger, conglomerate, multinational corporation, cooperative, consumer cooperative, service cooperative, producer cooperative, nonprofit organization, professional organization, business association, trade association
Chapter 9
Labor force, outsourcing, offshoring, learning effect, screening effect, contingent employment, guest workers, derived demand, productivity of labor, equilibrium wage, unskilled labor, semi-skilled labor, skilled labor, professional labor, glass ceiling, labor union, featherbedding, strike, right to work, blue collar worker, white collar worker, collective bargaining, mediation, arbitration
2A / Chapter 10
12.E1c
12.E3c
12.E1d
Chapter 11
12.E1a
12.E1b
12.E1c
Chapter 12
12.E4a
12.E4b / Chapter 10 – How well do financial services serve our needs?
How does money serve the needs of our society?
How has the American banking system changed to meet new challenges?
What banking services do financial institutions provide?
Chapter 11 – How do your saving and investment choices affect your future?
What are the benefits and risks of savings and investments?
Why are bonds bought and sold?
How does the stock market work?
S
Chapter 12 – How do we know if the economy is healthy?
What does GDP show about the nation’s economy?
What factors affect the phases of a business cycle?
How does the economy grow? / Chapter 10
Chapter 11
Chapter 12
The New Yorker: Shut Up Savers!
Stock Market Game
Nytimes: As Biofuel Demand Grows So Do Guatemala’s Hunger Pains / Section assessments, chapter review
Chapter test comes from bank with above types of problems
Reflection
Stock Market Portfolio
Reflection / Chapter 10
Money, medium of exchange, barter, unit of account, store of value, currency, commodity money, representative money, specie, fiat money, bank, national bank, bank run, greenback, gold standard, central bank, member bank, foreclosure, money supply, liquidity, demand deposit, money market mutual fund, fractional reserve banking, default, mortgage, credit card, interest, principal, debit card, creditor
Chapter 11
Investment, financial system, financial asset, financial intermediary, mutual fund, hedge fund, diversification, portfolio, prospectus, return, coupon rate, maturity, par value, yield, savings bond, inflation-indexed bond, municipal bond, corporate bond, junk bond, capital market, money market, primary market, secondary market, share, capital gain, capital loss, stock split, stockbroker, brokerage firm, stock exchange, futures, options, call option, put option, bull market, bear market, speculation
Chapter 12
National income accounting, gross domestic product, intermediate goods, durable goods, nondurable goods, nominal GDP, real GDP, gross national product, depreciation, price level, aggregate supply, aggregate demand, business cycle, expansion, economic growth, peak, contraction, trough, recession, depression, stagflation, leading indicators, real GDP, capital deepening, saving, savings rate, technological progress
2B / Chapter 13
12.E3b
12.E3c
12.E3d
12.E3e
Chapter 14
12.E4b
Chapter 15
12.E4b / Chapter 13 – How much can we reduce unemployment, inflation, and poverty?
What are the causes of unemployment?
What are the causes and effects of inflation?
What factors affect the poverty rate?
Chapter 14 - How can taxation meet the needs of government and the people?
What are the features of a tax system?
What taxes does the federal government collect?
How does the federal government spend its income?
How do local governments manage their money?
Chapter 15 – How effective is fiscal policy as an economic tool?
What are the goals and limits of fiscal policy?
What economic ideas have shaped fiscal policy?
What are the effects of budget deficits and national debt? / Chapter 13
Chapter 14
Chapter 15
Time: If There’s No Inflation, Why are Prices Up So Much?
Why Amazon Supports an Online Sales-Tax Bill?
New York Times: Should We tax people for being annoying / Section assessments, chapter review
Chapter test comes from bank with above types of problems
Debate: Role of Taxation in the US Economy / Chapter 13
Frictional unemployment, structural unemployment, globalization, seasonal employment, cyclical unemployment, unemployment rate, full employment, underemployed, discouraged worker
Inflation, purchasing power, price index, Consumer Price Index, market basket, inflation rate, core inflation rate, hyperinflation, quantity theory, wage-price spiral, fixed income, deflation, poverty, poverty rate, income distribution, food stamp program, Lorenz Curve, enterprise zone, block grant, workfare
Chapter 14
Tax, revenue, progressive tax, proportional tax, regressive tax, tax base, individual income tax, corporate income tax, property tax, sales tax, incidence of a tax, withholding, tax return, taxable income, personal exemption, tax deduction, tax credit, estate tax, gift tax, tariff, tax incentive, mandatory spending, discretionary spending, entitlement, budget, operating budget, capital budget, balanced budget, tax exempt, real property, personal property, tax assessor
Chapter 15
Fiscal policy, federal budget, fiscal year, appropriations bill, expansionary policy, contractionary policy, classical economics, productive capacity, demand-side economics, Keynesian economics, multiplier effect, automatic stabilizer, supply-side economics or Reaganomics or trickle down economics, budget surplus, budget deficit, Treasury bill, treasury note, Treasury bond, national debt, crowding-out effect
2C / Chapter 16
12.E4c
Chapter 17
12.E4d
12.E1d
Chapter 18
12.31d
Personal Finance
12.E1a
12.E1b
12.E1c
12.E1d / Chapter 16 – How effective is monetary policy as an economic tool?
How is the Federal Reserve System organized?
What does the Federal Reserve do?
How does the Federal Reserve control the amount of money in use?
How does monetary policy affect economic stability?
Chapter 17 – Should free trade be encouraged?
Why do nations trade?
What are the arguments for and against trade barriers and agreements?
How do exchange rates affect international trade?
Chapter 18 – Do the benefits of economic development outweigh the costs?
How is a nation’s level of development defined?
What factors harm or help development? How has economic change affected different countries?
What are the effects of globalization?
Personal Finance Handbook
Budgeting, checking, investments, savings and retirement, credit and debt, risk management, consumer smarts, after high school, taxes and income / Chapter 16
Chapter 17
Chapter 18
Planet Money: How Four Drinking Buddies Saved Brazil / Section assessments, chapter review
Chapter test comes from bank with above types of problems
Research Project: trace how a product is make
Written Response
Ignite Presentation / Chapter 16
Monetary policy, reserves, reserve requirements, Federal Reserve, check clearing, bank holding company, federal funds rate, discount rate, money creation, required reserve ration, money multiplier formula, excess reserves, prime rate, open market operations, monetarism, easy money policy, tight money policy, inside lag, outside lag
Chapter 17
Export, import, absolute advantage, comparative advantage, law of comparative advantage, interdependence, trade barrier, tariff, import quota, sanctions, embargo, trade war, protectionism, infant industry, free trade, free trade zone, exchange rate, appreciation, depreciation, foreign exchange market, fixed exchange-market, flexible exchange rate system, balance of trade, trade surplus, trade deficit, balance of payments
Chapter 18
Development, developed nation, less developed country, newly industrialized country, per capital GDP, industrialization, literacy rate, life expectancy, infant mortality rate, subsistence agriculture, population growth rate, internal financing, foreign investment, foreign direct investment, foreign portfolio investment, debt rescheduling, stabilization program, nongovernmental organization., privatization, special economic zone, globalization, offshoring, remittances, brain drain, sustainable development, deforestation
3B
3C
4A
4B
4C