| (B) identify regulations that apply to the establishment
and operation of various types of market structures.
(9) Economics. The student understands key economic
measurements. The student is expected to:
(A) interpret economic data, including unemployment
rate, gross domestic product, gross domestic product per capita as
a measure of national wealth, and rate of inflation; and
(B) analyze business cycles using key economic indicators.
(10) Economics. The student understands key components
of economic growth. The student is expected to:
(A) analyze how productivity relates to growth;
(B) analyze how technology relates to growth; and
(C) analyze how trade relates to growth.
(11) Economics. The student understands the role of
money in an economy. The student is expected to:
(A) describe the functions of money;
(B) describe the characteristics of money, including
commodity money, fiat money, and representative money; and
(C) analyze the positive and negative aspects of barter,
currency, and debit cards.
(12) Economics. The student understands the role of
the Federal Reserve System in establishing monetary policy. The student
is expected to:
(A) explain the structure of the Federal Reserve System;
(B) analyze the three basic tools used to implement
U.S. monetary policy, including reserve requirements, the discount
rate and the federal funds rate target, and open-market operations;
(C) explain how the actions of the Federal Reserve
System affect the nation's money supply; and
(D) describe the current role of the U.S. dollar in
trade in the world market and analyze how that has changed over time,
in particular since departing from the gold standard in 1971.
(13) Economics. The student understands the role that
the government plays in the U.S. free enterprise system. The student
is expected to:
(A) describe the role of government in the U.S. free
enterprise system and the changes in that role over time; and
(B) analyze the costs and benefits of U.S. economic
policies, rules, and regulations related to the economic goals of
economic growth, stability, full employment, freedom, security, equity
(equal opportunity versus equal outcome), and efficiency.
(14) Economics. The student understands the economic
impact of fiscal policy decisions at the local, state, and national
levels. The student is expected to:
(A) identify types of taxes at the local, state, and
national levels and the economic importance of each;
(B) explain the categories of revenues and expenditures
in the U.S. federal budget; and
(C) analyze the impact of fiscal policy decisions on
the economy.
(15) Personal financial literacy. The student understands
types of business ownership. The student is expected to:
(A) explain the characteristics of sole proprietorships,
partnerships, and corporations; and
(B) analyze the advantages and disadvantages of sole
proprietorships, partnerships, and corporations.
(16) Personal financial literacy. The student understands
the role of financial markets/institutions in saving, borrowing, and
capital formation. The student is expected to:
(A) explain the functions of financial institutions
and how they affect households and businesses;
(B) explain how the amount of savings in an economy
is the basis of capital formation;
(C) analyze the role of interest and risk in allocating
savings to its most productive use; and
(D) examine the types of accounts available to consumers
from financial institutions and the risks, monetary costs, and benefits
of maintaining these accounts.
(17) Personal financial literacy. The student understands
the role of individuals in financial markets. The student is expected
to:
(A) assess ways to be a wise investor in the stock
market and in other personal investment options such as developing
a personal retirement plan;
(B) explain how to begin a savings program;
(C) demonstrate how to maintain a checking account,
including reconciling a bank statement;
(D) identify the types of loans available to consumers;
(E) explain the responsibilities and obligations of
borrowing money; and
(F) develop strategies to become a low-risk borrower
by improving and understanding one's personal credit score.
(18) Personal financial literacy. The student applies
critical-thinking skills to analyze the costs and benefits of personal
financial decisions. The student is expected to:
(A) examine ways to avoid and eliminate credit card
debt;
(B) evaluate the costs and benefits of declaring personal
bankruptcy;
(C) evaluate the costs and benefits of buying insurance;
and
(D) evaluate the costs and benefits of charitable giving.
(19) Personal financial literacy. The student understands
how to provide for basic needs while living within a budget. The student
is expected to:
(A) evaluate the costs and benefits of renting a home
versus buying a home; and
(B) assess the financial aspects of making the transition
from renting to home ownership.
(20) Personal financial literacy. The student understands
the various methods available to pay for college and other postsecondary
education and training. The student is expected to:
(A) understand how to complete the Free Application
for Federal Student Aid (FAFSA) provided by the United States Department
of Education;
(B) research and evaluate various scholarship opportunities
such as those from state governments, schools, employers, individuals,
private companies, nonprofits, and professional organizations;
(C) analyze and compare student grant options;
(D) analyze and compare student loan options, including
private and federal loans; and
(E) research and evaluate various work-study program
opportunities.
(21) Social studies skills. The student applies critical-thinking
skills to organize and use information acquired through established
research methodologies from a variety of valid sources, including
technology. The student is expected to:
(A) analyze economic 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;
(B) create economic models, including production-possibilities
curves, circular-flow charts, and supply-and-demand graphs, to analyze
economic concepts or issues;
(C) explain a point of view on an economic issue;
(D) analyze and evaluate a variety of economic information
from primary and secondary sources for validity, credibility, accuracy,
bias, propaganda, point of view, and frame of reference;
(E) evaluate economic data using charts, tables, graphs,
and maps; and
(F) formulate and communicate visually, orally, or
in writing a claim supported by evidence and reasoning for an intended
audience and purpose.
(22) Social studies skills. The student communicates
in written, oral, and visual forms. The student is expected to:
(A) use social studies terminology correctly;
(B) create written, oral, and visual presentations
of economic information using effective communication skills, including
proper citations and avoiding plagiarism; and
(C) apply foundational language skills to engage in
civil discourse about economics topics, including those with multiple
perspectives.
(23) Social studies skills. The student uses problem-solving
and decision-making skills, working independently and with others.
The student is expected to use problem-solving and decision-making
processes 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.
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