For

Course Title: Economics

Standards
California: Principles of Economics
12.1 Students understand common economic
terms and concepts and economic reasoning.
12.2 Students analyze the elements of various
Asian economies in a global setting.
12.3 Students analyze the influence of the
government policy on various economies.
12.4 Students analyze the elements of the
ASEAN labor market in a global setting
12.5 Students analyze the aggregate economic
behavior of the ASEAN economy
12.6 Students analyze issues of international
trade and explain how the ASEAN economy
affects, and is affected by, economic forces
beyond ASEAN borders

Basic Education Core Curriculum B.E.

2551 (Thailand)
SO3.1- Understanding and ability of managing
resources for production and consumption;
efficient and cost-effective utilization of
limited resources available; and understanding
the principles of Sufficiency Economy for
leading a balanced life.
SO3.2- Understanding of various economic
systems and institution; the economic relations;
and the necessity for economic cooperation in
the world community

Literacy Standards Grades 11 12

Reading:
1. Cite specific textual evidence to support
analysis of primary and secondary sources,
connecting insights gained from specific
details to an understanding of the text as a

Curriculum Map
Economics
Social Science

Benchmarks
California: Principles of Economics
12.1.1- Examine the causal
relationship between scarcity and the
need for choices.
12.1.2- Explain opportunity cost and
marginal benefit and marginal cost.
12.1.3- Identify the difference
between monetary and nonmonetary
incentives and how changes in
incentives cause changes in behavior.
12.1.4- Evaluate the role of private
property as an incentive in conserving
and improving scarce resources,
including renewable and
nonrenewable natural resources.
12.15- Analyze the role of a market
economy in establishing and
preserving political and personal
liberty (e.g., through the works of
Adam Smith).
12.2.1- Understand the relationship of
the concept of incentives to the law of
supply and the relationship of the
concept of incentives and substitutes
to the law of demand.
12.2.2- Discuss the effects of changes
in supply and/or demand on the
relative scarcity, price, and quantity
of particular products.
12.2.3- Explain the roles of property
rights, competition, and profit in a
market economy.
12.2.4- Explain how prices reflect the
relative scarcity of goods and services
and perform the allocative function in
a market economy.

ESLOs
Strategic Learners
-Identify what we need to know
and make plans to learn
- Manage time well
- Use a variety of resource to learn
- Reflect on own learning and learn
from mistakes
- Use technology to learn, research,
and work

Innovative Thinkers
- Build on the ideas, explanation,
and reasons of others
- Perform critical thinking
- Create original work
- Use technology to create products
of high quality

Articulate Communicators
- Listen for different purposes with
critical understanding
- Speak and respond appropriately
to the social and academic context
- Use reading strategies to read for
different purposes
- Use writing process and strategies
to write for different purposes and
audiences
- Use technology and media to
share and communicate effectively

Morally Intelligent Persons

- Display moral, ethical, and civil
behavior
- Display a strong work ethics and

Grade Level: 10-12

Language Functions
Expressive
- Expressing, clarifying, or arranging ones ideas,
thoughts or feelings (ability, wishes/hopes, fear/worry,
likes/dislikes,
surprise/disbelief/satisfaction/dissatisfaction)
- Expressing modality (possibility, certainty,
necessity/needs, wants, obligation)

Evaluation
-Evaluating, judging, ranking
-Appreciating and criticizing
-Forming, expressing, and justifying preferences and
opinions
-Recommending
-Understanding, analyzing, and deciding on goals,
values, policies, and evaluation criteria

Description
-Reporting, identifying, and observing
-Naming
-Comparing or contrasting things
-Describing

Directive
-Attempting to influence the actions of others
(advice/suggestions, requests/ offers, persuasion,
commands, corrections, approval/disapproval)
-Questioning/inquiring
-Giving directions, instructing

Sequence
-Sequencing objects, ideas, or events
-Recounting
-Narrating
-Relaying steps in a process

For
whole.
2. Determine the central ideas or information
of a primary or secondary source; provide an
accurate summary that makes clear the
relationships among the key details and ideas.
3. Evaluate various explanations for actions or
events and determine which explanation best
accords with textual evidence, acknowledging
where the text leaves matters uncertain.
4. Determine the meaning of words and
phrases as they are used in a text, including
analyzing how an author uses and refines the
meaning of a key term over the course of a
text.
5. Analyze in detail how a complex primary
source is structured, including how key
sentences, paragraphs, and larger portions of
the text contribute to the whole.
6. Evaluate authors differing points of view on
the same historical event or issue by assessing
the authors claims, reasoning, and evidence.
7. Integrate and evaluate multiple sources of
information presented in diverse formats and
media (e.g., visually, quantitatively, as well as
in words) in order to address a question or
solve a problem.
8. Evaluate an authors premises, claims, and
evidence by corroborating or challenging them
with other information.
9. Integrate information from diverse sources,
both primary and secondary, into a coherent
understanding of an idea or event, noting
discrepancies among sources.
10. By the end of grade 12, read and
comprehend history/social studies texts in the
grades 1112 text complexity band
independently and proficiently.
Writing:

Curriculum Map
Economics
Social Science

12.2.5- Understand the process by

which competition among buyers and
sellers determines a market price.
12.2.6- Describe the effect of price
controls on buyers and sellers.
12.2.7- Analyze how domestic and
international competition in a market
economy affects goods and services
produced and the quality, quantity,
and price of those products.
12.2.8- Explain the role of profit as
the incentive to entrepreneurs in a
market economy.
12.2.9- Describe the functions of the
financial markets.
12.2.10- Discuss the economic
principles that guide the location of
agricultural production and industry
and the spatial distribution of
transportation and retail facilities.
12.3.1- Understand how the role of
government in various economies
often includes providing for national
defense, addressing environmental
concerns, defining and enforcing
property rights, attempting to make
markets more competitive, and
protecting consumers rights.
12.3.2- Identify the factors that may
cause the costs of government actions
to outweigh the benefits.
12.3.3- Describe the aims of
government fiscal policies (taxation,
borrowing, spending) and their
influence on production, employment,
and price levels.
12.3.4- Understand the aims and tools
of monetary policy and their
influence on economic activity (e.g.,

charity for all

- Utilize technology in an ethical
way

Altruistic Global Citizens

- Display civic responsibility
- Demonstrate cultural sensitivity
and respect for differences
- Show concern and responsibility
for the well-being of the
community
- Use technology for community
services

Leaders for the Future

- Use leadership and team building
skills to achieve in diverse
situations
- Use common objectives for
group work
- Use appropriate strategies to
work through conflicts and accept
group decisions
- Evaluate own and others
contributions and provides helpful
feedback
- Apply technology effectively to
solve problems and complete tasks

Classification
-Understanding, applying, or developing concepts,
definitions, and classifications
-Using operational definitions

Choice
-Making decisions
-Negotiating and arguing
-Expressing and inquiring about intentions
-Expressing personal opinions

Principles
-Explaining
-Predicting
-Interpreting data, inferring and drawing conclusions
-Formulating, testing, and establishing hypotheses
-Understanding, applying, or developing
generalizations (causes/effects, means/ends, rules,
strategies, results, analysis, synthesis)
-Summarizing
-Paraphrasing

Imaginative
-Solving problems of mysteries

For
1. Write arguments focused on disciplinespecific content.
a. Introduce precise, knowledgeable claim(s),
establish the significance of the claim(s),
distinguish the claim(s) from alternate or
opposing claims, and create an organization
that logically sequences the claim(s),
counterclaims, reasons, and evidence.
b. Develop claim(s) and counterclaims fairly
and thoroughly, supplying the most relevant
data and evidence for each while pointing out
the strengths and limitations of both claim(s)
and counterclaims in a discipline-appropriate
form that anticipates the audiences knowledge
level, concerns, values, and possible biases.
c. Use words, phrases, and clauses as well as
varied syntax to link the major sections of the
text, create cohesion, and clarify the
relationships between claim(s) and reasons,
between reasons and evidence, and between
claim(s) and counterclaims.
d. Establish and maintain a formal style and
objective tone while attending to the norms and
conventions of the discipline in which they are
writing.
e. Provide a concluding statement or section
that follows from or supports the argument
presented.
2. Write informative/explanatory texts,
including the narration of historical events,
scientific procedures / experiments, or
technical processes.
a. Introduce a topic and organize complex
ideas, concepts, and information so that each
new element builds on that which precedes it to
create a unified whole; include formatting
(e.g., headings), graphics (e.g., figures, tables),
and multimedia when useful to aiding

Curriculum Map
Economics
Social Science

the World Bank).

12.4.1- Understand the operations of
the labor market, including the
circumstances surrounding the
establishment of principal labor
unions, procedures that unions use to
gain benefits for their members, the
effects of unionization, the minimum
wage, and unemployment insurance.
12.4.2- Describe the current ASEAN
economy and labor market, including
the types of goods and services
produced, the types of skills workers
need, the effects of rapid
technological change, and the impact
of international competition.
12.4.3- Discuss wage differences
among jobs and professions, using the
laws of demand and supply and the
concept of productivity.
12.4.4- Explain the effects of
international mobility of capital and
labor on the ASEAN economy.
12.5.1- Distinguish between nominal
and real data.
12.5.2- Define, calculate, and explain
the significance of an unemployment
rate, the number of new jobs created
monthly, an inflation or deflation rate,
and a rate of economic growth.
12.5.3- Distinguish between shortterm and long-term interest rates and
explain their relative significance.
12.6.1- Identify the gains in
consumption and production
efficiency from trade, with emphasis
on the main products and changing
geographic patterns of twentiethcentury trade among countries in the

For
comprehension.
b. Develop the topic thoroughly by selecting
the most significant and relevant facts,
extended definitions, concrete details,
quotations, or other information and examples
appropriate to the audiences knowledge of the
topic.
c. Use varied transitions and sentence
structures to link the major sections of the text,
create cohesion, and clarify the relationships
among complex ideas and concepts.
d. Use precise language, domain-specific
vocabulary and techniques such as metaphor,
simile, and analogy to manage the complexity
of the topic; convey a knowledgeable stance in
a style that responds to the discipline and
context as well as to the expertise of likely
readers.
e. Provide a concluding statement or section
that follows from and supports the information
or explanation provided (e.g., articulating
implications or the significance of the topic).
3. (See note; not applicable as a separate
requirement)
4. Produce clear and coherent writing in which
the development, organization, and style are
appropriate to task, purpose, and audience.
5. Develop and strengthen writing as needed by
planning, revising, editing, rewriting, or trying
a new approach, focusing on addressing what
is most significant for a specific purpose and
audience.
6. Use technology, including the Internet, to
produce, publish, and update individual or

Curriculum Map
Economics
Social Science

Eastern Hemisphere.
12.6.3- Understand the changing role
of international political borders and
territorial sovereignty in a global
economy.
12.6.4- Explain foreign exchange, the
manner in which exchange rates are
determined, and the effects of the
bahts gaining (or losing) value
relative to other currencies.
Basic Education Core Curriculum
B.E. 2551 (Thailand)
SO3.1.1- Discuss about the fixing of
prices and wages in the economic
system
SO3.1.2- Realize the importance of
the Sufficiency Economy Philosophy
to the socioeconomic system of the
country [Thailand].
SO3.1.3- Realize the importance of
the cooperative system to economic
development at community and
national levels.
SO3.1.4- Analyze economic problems
of the community and propose the
remedial guidelines.
SO3.2.1- Explain governments role
concerning financial and local
policies in national economic
development.
SO3.2.3- Analyze the advantages and
disadvantages of international
economic cooperation in various
forms.

For

Curriculum Map
Economics
Social Science

shared writing products in response to ongoing

feedback, including new arguments or
information.
7. Conduct short as well as more sustained
research projects to answer a question
(including a self-generated question) or solve a
problem; narrow or broaden the inquiry when
appropriate; synthesize multiple sources on the
subject, demonstrating understanding of the
subject under investigation.

Understanding by Design:
Step 1: Identify learning outcomes
Step 2: Determine acceptable evidence of learning
Step 3: Plan learning experiences and instruction
Unit Title

Essential
Understanding

Essential Question

Content/Skills

Culminating Assessment

Resources

For
Unit 1:
Economic
Methods and
Theories
4-5 weeks

-The concept of scarcity

affects the distribution
of all goods and
services.
-The fundamental
questions of economics
are: what goods and
services will be
produced? How should
they be produced? Who
should receive those
goods and services that
are produced?

-What is
economics?
-How does
something acquire
a value?

Curriculum Map
Economics
Social Science
Content:
GDP, demand curves,
diminishing marginal
utility, labor value, wants
vs. needs, scarcity, value,
opportunity cost, rational
choice theory, supply &
demand

Skills:
-observation and
inference from data
-microeconomic
budgeting
-presenting ideas in
compelling writing and
speech
-translating between
mathematical models and
observed economic
phenomena
-create and interpret a
chart

Design a school trip & create a

budget:
Students will identify the necessary
components for creating a travel budget.
They will produce a basic itinerary for a
school trip in the form of a spreadsheet.
Students will apply economic
understandings to weigh the pros and cons
of each decision. They will articulate their
plan using basic conventions of written and
spoken English, and defend their decisions
by applying the basic principles of
budgeting.

Print and electronic

resources:
The Economics Book-Measuring Wealth (pg.36-37)
-Utility and Satisfaction
(pg.114-115)
-Labor Theory of Value
(pg.106-107)
-Elasticity of Demand (pg.124125)
-Definitions of Economics
(pg.171)
-Opportunity Cost (pg.133)
-Economics Man (pg.52-53)
-Spending Paradoxes (pg.116117)
-Supply and Demand (pg.110113)
-Paradox of Value (pg.63)

Video Resources:
- Federal Reserve Bank of St.
Louis Economic Education
Video Series Episode 1:
Supply
- Federal Reserve Bank of St.
Louis Economic Education
Video Series Episode 2:
Demand
- Council for Economic
Education Virtual Economics
Video Series: Aggregate
Demand & Aggregate Supply

For
Unit 2: Marketing -That the factors of
production are labor
and Firms
4-5 weeks

forces, natural
resources, capital
resources, and
entrepreneurship
-The principles of
economics in a mixed
market system are free
enterprise, private
property, the profit
motive, consumer
sovereignty, and
competition
-The principles of
economics are ideals
and are not always
found in the market
place.

-How are
economic
resources
distributed?
-How much should
something cost and
who decides?
-What impact does
scarcity have
production and
distribution of
goods and
services?

Curriculum Map
Economics
Social Science
Content:

Creating and marketing a Business:

The Economics Book:

econometrics, statistical
pitfall, joint stock
companies, public
companies, laissez-faire,
invisible hand, market
functions, diminishing
marginal returns, division
of labor, collusion, cartels,
monopolies, competition,
game theory, Nash
Equilibrium, supply and
demand, free market
stability, factory system,
specialization, economies
of scale, investment,
efficient markets, market
bubbles, market
uncertainty, incentives

Students will identify and understand the

common underlying features inherent across
business models. Students will extend their
understanding through the creation of a
business model for a company of their
choosing. Students will plan and develop
various aspects of their business model.
Students will present their business model
using spoken English with the aid of visual
representations. Classmates will offer
written recommendations and critique for
consideration. Based on the
recommendations of classmates, students
will develop a marketing strategy for their
business.

-Testing Economic Theories

(pg.170)
-Public Companies (pg.38)
-Free-market Economics
(pg.56-59)
-Diminishing Returns (pg.62)
-Division of Labor (pg.66-67)
-Cartels and Collusion (pg.7071)
-Effects of Limited
Competition (pg.90-91)
-Monopolies (pg.94-97)
-Economic Equilibrium
(pg.120-123)
-Competitive Markets (pg.126129)
-Economics of Scale (pg.132)
-Corporate Governance
(pg.168-169)
-Price Discrimination (pg.180181)
-Efficient Markets (pg.272)
-Market Uncertainty (pg.274275)
-Incentives and Wages (pg.302)
-Searching and Matching
(pg.304-305)

Skills:
-logical thought used in
solving problems
-observation and
inference from data
-presenting ideas in
compelling writing and
speech
-econometric forecasting
techniques
-translating between
mathematical models and
observed economic
phenomena

Marketing MUIDS:
Students will extend their understandings of
marketing by developing a marketing
strategy for MUIDS. Students will apply
their knowledge to the creation of a
practical and specific marketing strategy for
MUIDS

Video Resources:
-Federal Reserve Bank of St.
Louis Economic Education
Video Series Episode 3:
Equilibrium
- Council for Economic
Education Virtual Economics
Video Series: Competition and
Market Structure

For
Unit 3:
Banking, Finance,
and Economic
Systems
4-5 weeks

-The basic economic

systems are traditional,
command, market, and
mixed (which
incorporate aspects of
both market and
command economies)
-That mixed economies
are common today
because of the
complexities and needs
of modern global
economies.
-The main variables that
cause the value of
individual stocks to rise
and fall.

-How do economic
systems affect
your life and the
lives of others?
-How are
economic
resources
distributed?
-What determines
the value of a
stock? What
causes its value to
rise and fall?

Curriculum Map
Economics
Social Science
Content:
Types of money
(commodity & flat),
economies of scale,
diversification of risk,
asset transformation,
derivative contracts,
instability, bank runs,
Marxist economies,
central planning,
capitalism, rates of return

Skills:
-Measure and evaluate the
well-being of the rich,
poor, and in between
-logical thought used in
solving problems
-observation and
inference from data
-presenting ideas in
compelling writing and
speech

Financing alternative energy- cost

benefit analysis:
Students will know the basic economic
principles of conducting a cost-benefit
analysis. Students will identify traditional
forms of energy production as well as new
forms of alternative energy. Students will
research each form of energy to deepen
their understandings. Students will consider
the pros and cons of each form of energy
production. Based on their findings,
students will apply their knowledge of costbenefit analysis to assess the feasibility of
the alternative energy sources they have
researched. Students will present their
findings in a written proposal for a
renewable energy conference. Students will
present the highlights of their proposal in an
oral presentation which utilizes visual aids
and evidence in support of their findings.

Stock Market Game (ongoing):

The Economics Book:

-Functions of Money (pg.2425)
-Financial Services (pg.26-29)
-Financial Engineering
(pg.262-265)
-Financial Crises (pg.298-301)
-Marxist Economics (pg.102105)
-Central Planning (pg.144-147)
-Creative Destruction (pg.148149)
-Shortages in Planned
Economies (pg.232-233)
-Risk and Uncertainty (pg.162163)

Video Resources:
-Council for Economic
Education Virtual Economics
Video Series: Economic
Systems; Financial Markets;
and Saving and Investing

For
Unit 4: Economic -That financial market
can be regulated by the
Policy
4-5 weeks

-Should
government
government in varying
regulate business
styles and degrees.
or be its partner?
-That regulatory
organization restrict and -What goods and
monitor aspects of the
services should
economy.
government
provide? Who
should pay for
them? Who should
benefit from them?
Who should
decide?

Curriculum Map
Economics
Social Science
Content:

Addressing Employment:

The Economics Book:

taxation (fairness &

efficiency), government
spending, gov. borrowing,
gov. taxation, external
costs, regulation, Keynes,
Friendman, monetary
policy, inflation,
unemployment, Philips
Curve, market efficiency,
market imperfections,
market imperfections,
revenue, tax haven,
supply-side economies,
government policy,
discretionary policy,
reform, economic change,
collective action, Pareto
Effect, public goods,
services, regulation

Students will know and describe the

economic principles related to employment
and unemployment in a society. In addition,
students will understand the methods
employed by economists to gather and
interpret employment data. Students will
research and record employment data in
various societies and apply their
understanding of economic principles to
analyze the data. Students will construct
visual representations of the data and
summarize the broad employment trends
through written and spoken English.
Students will compare their findings with
the findings of their peers to formulate a
hypothesis on the hows and whys of
employment trends.

-Bank Runs (pg.318-321)

-Tax Burden (pg.64-65)
-Borrowing and Debt (pg.7677)
-External Costs (pg.137)
-Monetarist Policy (pg.198201)
-Inflation and Unemployment
(pg.202-203)
-Theory of the Second Best
(pg.220-221)
-Taxation and Economic
Incentives (pg.270-271)
-Independent Central Banks
(pg.276-277)
-Economics and the
Environment (pg.306-309)
-Resisting Economic Change
(pg.328-329)
-Efficiency and Fairness
(pg.130-131)
-Provision of Public Goods and
Services (pg.46-47)

Skills:
-logical thought used in
solving problems
-observation and
inference from data

Stock Market Game (ongoing):

Quarterly reporting: Students will maintain
and present regular reports for their stock
portfolio. Portfolios will contain reflections
regarding any changes in purchases, sales,
and speculation for future change.

Video Resources:
- Council for Economic
Education Virtual Economics
Video Series: Monetary Policy
and the Federal Reserve; Fiscal
Policy; Employment and
Unemployment

For
Unit 5:
The
Macroeconomy
4-5 weeks

-The consumer,
business, and
government sectors
exercise influence over
each other through the
circular flow.
-That labor adds value
to goods and services at
varying degrees,
influenced by outside
sources.

-How does
something acquire
value?
-Why do people
work? Should
people be expected
to work?

Curriculum Map
Economics
Social Science
Content:
Inflation, real/nominal
price, money flow,
economic cycles,
formation of bubbles,
unemployment,
Keynesian Economics,
government spending,
rational thinking, sticky
wages, housing market
cycles

Skills:
-Measure and evaluate the
well-being of the rich,
poor, and in between
-Econometric forecasting
techniques
-translating between
mathematical models and
observed economic
phenomena
-logical thought used in
solving problems
-observation and
inference from data
-presenting ideas in
compelling writing and
speech

Researching and explaining major

macroeconomic trends in a country
for the past 20-50 years:
Students will understand the major
principles used in the study of
macroeconomics. Students will collect
various forms of economic data for a
country and apply their understandings of
macroeconomics to analyze the data.
Students will investigate the relationship
between the data they have collected and
their fundamental macroeconomic
understandings, making note of any
apparent contradictions. Based on their
research and analysis, students will develop
an evidence based economic forecast for the
economy in question based on three
observed recent economic developments.

Stock Market Game (ongoing):

Quarterly reporting: Students will maintain
and present regular reports for their stock
portfolio. Portfolios will contain reflections
regarding any changes in purchases, sales,
and speculation for future change.

The Economics Book:

-Quantity Theory of Money
(pg.30-33)
-Circular Flow of the Economy
(pg.42-45)
-Boom and Bust (pg.78-79)
-Economic Bubbles (pg.98-99)
-Depressions and
Unemployment (pg.156-161)
-Keynesian Multiplier (pg.164165)
-Rational Expectations (pg.244247)
-Sticky Wages (pg.303)
-Housing Boom and Economic
Cycle (pg.330-331)

Video Resources:
- Federal Reserve Bank of St.
Louis Economic Education
Video Series Episode 4: The
Labor Market
- Federal Reserve Bank of St.
Louis Economic Education
Video Series Episode 6:
Circular Flow
- Council for Economic
Education Virtual Economics
Video Series: Business cycles;
Inflation; Real vs. Nominal

For
Unit 6:
Society and the
Economy
4-5 weeks

-That social and cultural

norms influence
economic system.
-That economic systems
vary in the response to
changes within and
outside the system.

-How do different
economic systems
vary in their
toleration and
encouragement of
change?
-What effect does
the economy have
on society?

Curriculum Map
Economics
Social Science
Content:
Private property, price,
markets, just price,
collective bargaining,
unions, conspicuous
consumption, social class,
waste, religion, values,
economic decisions,
poverty, development,
tradition- culture and its
impact on economy, free
markets, socialism,
neoliberalism, economic
institutions, GDP, national
welfare, Happy Plant
Index (HPI), social
market economy, market
economy, social, physical
capital, human capital,
non-market theory,
Pareto-efficiency, social
choice theory, voting
paradox

Skills:
-Measure and evaluate the
well-being of the rich,
poor, and in between
-logical thought used in
solving problems
-observation and
inference from data

Environmental Regulation & Impact

of development:
Students will understand the theory and
process of government regulation. Students
will identify several major instances of
government regulation, including the intent,
process and effects. Students will conduct
in-depth research on a single regulatory
policy and its effects on the natural
environment, human welfare and economic
development. Students will construct
organizers to weigh the pros and cons of the
policy and its effects. Based on their data,
students will create a written policy report
on the effects of the policy and make
recommendations for the policy to be
revoked, reformed, or for continued
implementation. Students will incorporate
data to justify their claims, and will
anticipate possible objections to their plan.
Students will create a written proposal and
oral presentation of their findings, to be
evaluated and discussed by their peers.

Stock Market Game (ongoing):

Quarterly reporting: Students will maintain
and present regular reports for their stock
portfolio. Portfolios will contain reflections
regarding any changes in purchases, sales,
and speculation for future change.

The Economics Books:

-Property Rights (pg.20-21)
-Markets and Morality (pg.2223)
-Collective Bargaining (pg.134135)
-Conspicuous Consumption
(pg.136)
-Religion and the Economy
(pg.138-139)
-The Poverty Problem (pg.140141)
-Economics and Tradition
(pg.166-167)
-Economic Liberalism (pg.174177)
-Institutions in Economics
(pg.206-207)
-Economics of Happiness
(pg.216-219)
-Social Market Economy
(pg.222-223)
-Social Capital (pg.280)
-Gender and Economics
(pg.310-311)
-Markets and Social Outcomes
(pg.210-213)
-Social Choice Theory (pg.214215)

Video Resources:
- Federal Reserve Bank of St.
Louis Economic Education
Video Series Episode 6:
Externalities
- Council for Economic
Education Virtual Economics
Video Series: The Role of
Government

For
Unit 7:
Growth and
Development
4-5 weeks

-Decisions concerning
the allocation and use
of economic resources
impact individuals and
groups.
-

-How are
economic
resources
distributed?
-How much should
it cost and who
decides?

Curriculum Map
Economics
Social Science
Content:
Agricultural economics,
population growth,
Malthusian trap, industrial
economics, massive
capital investments, big
push investing,
convergence &
divergence of living
standards, unbalanced
trading, entitlements,
direct economic policy,
rapid growth, ICT impact,
debt relief, economic
equality, Gross Domestic
Product / Gross National
Product

Skills:
-Measure and evaluate the
well-being of the rich,
poor, and in between
-logical thought used in
solving problems
-observation and
inference from data
-presenting ideas in
compelling writing and
speech

Effects of natural & manmade

disasters on Economies- A before &
after analysis
Students will recognize the effects of both
manmade and natural disasters on local and
national economies. Students will identify
various man-made and natural disasters that
can cause significant harm to an economy.
Students will explain the relationship
between disaster and economic performance
in general. Students will then research an
economy that has suffered a disaster.
Students will infer the causal relationship
between the disaster and the economy based
on analysis of pre- and post-disaster
economic data. Students will consider the
influence of specific geographical, political,
social and cultural traits of their chosen
society in their analysis. Students will
construct visual representations to aid in
oral explanation of the causal relationship
between disaster and economic
performance. Students will integrate their
observations with those of their peers to
construct a written, data-backed assessment
of the link between disasters and economic
performance for a UNESCO panel
discussion.

Stock Market Game (ongoing):

Quarterly reporting: Students will maintain
and present regular reports for their stock
portfolio. Portfolios will contain reflections
regarding any changes in purchases, sales,
and speculation for future change.

The Economics Book:

-Agriculture and the Economy
(pg.39)
-Demographics and Economic
(pg.68-69)
-Emergence of Modern
Economics (pg.178-179)
-Development Economics
(pg.190-193)
-Economic Growth Theories
(pg.224-225)
-Dependency Theory (pg.242243)
-Entitlement Theory (pg.256257)
-Asian Tiger Economies
(pg.284-287)
-Technological Leaps (pg.313)
-International Debt Relief
(pg.314-315)
-Inequality and Growth
(pg.326-327)

Video Resources:
- Federal Reserve Bank of St.
Louis Economic Education
Video Series Episode 7: Gross
Domestic Product
- Council for Economic
Education Virtual Economics
Video Series: Economic
Development; Economic
Growth; Economic Institutions

For
Unit 8:
The Global
Economy
4-5 weeks

-Local, national, and

international
relationships are
affected by economic
transactions.

-How does trade

effect local,
national, and
international
relationships?
-What are the
advantages and
disadvantages of
the market system?

Curriculum Map
Economics
Social Science
Content:

Government Trade & Import Policy:

The Economics Book:

comparative advantage,
trade protection,
economic cooperation,
International Monetary
Fund (IMF), Bretton
Woods System, market
integration, currency
areas, Eurozone crisis,
currency crisis, savings
glut, prisoners dilemma

Students will understand the fundamental

components of a national trade policy.
Students will compare and contrast the
current trade practices of various nations.
Students will examine political, economic,
social, cultural and geographic elements
that influence national trade policy.
Students will use the CIA World Factbook
to collect economic data for the nation
under examination. Students will combine
their understandings of the nation with the
economic data form a hypothesis on how
politics, economics, society, culture and
geography influence trade and import
policies. Students will present a summary
of their findings in an oral presentation.
Based on their findings and those of their
peers, students will examine how trade
policies of one nation influence the
economies of their trade partners and the
global economy as a whole. Students will
discuss their findings in the form of a
written, research backed report.

-Protectionism and Trade

(pg.34-35)
-Comparative Advantage
(pg.82-85)
-International Trade and
Bretton Woods (pg.186-187)
-Globalization (pg.228-231)
-Exchange Rates and
Currencies (pg.252-255)
-Speculation and Currency
Devaluation (pg.290-293)
-Global Savings Imbalances
(pg.322-325)
-Competition and Cooperation
(pg.273)

Skills:
-Measure and evaluate the
well-being of the rich,
poor, and in between
-logical thought used in
solving problems
-observation and
inference from data
-presenting ideas in
compelling writing and
speech
-translating between
mathematical models and
observed economic
phenomena

Stock Market Game (Conclusion):

Students will present a final report of their
stock portfolio. Portfolios will contain
overall reflections regarding all changes in
purchases, sales, and the results of their
econometric forecasts.

Video Resources:
- Council for Economic
Education Virtual Economics
Video Series: Trade, Exchange
and Interdependence; Balance
of Trade and Balance of
Payments; Benefits of Trade /
Comparative Advantage