Economics and Personal Finance

Economics and Personal Finance

Economic Concepts

Financial Literacy

Microeconomics

Macroeconomics

Demonstrate an understanding of fundamental economic concepts at an individual, business, and governmental level.

Demonstrate an understanding of how scarcity and choice influence individual financial decisions.

Demonstrate an understanding of basic microeconomic principles.

Demonstrate an understanding of basic macroeconomic principles. 

Examine how scarcity of time and resources necessitates decision making.

Research and utilize evidence to explain how various economic systems address the basic economic questions regarding distribution of resources.

Determine how society’s allocation of resources impacts economic well-being using a production possibilities curve.

Evaluate how short-term goals allow individuals and institutions to make rational decisions using marginal analysis.

Research and analyze the factors that impact personal income and long-term earning potential.

Identify and explain the functions of different types of financial institutions and how they assist individuals in achieving short- and long-term financial goals.

Determine financially responsible ways that individuals acquire and use credit.

Develop a personal finance strategy for investing, protecting, purchasing, and saving resources.

Apply the laws of supply and demand to determine how changes in market conditions affect prices.

Compare and contrast how the organization of various market structures affects decisions and outcomes of individuals and firms.

Illustrate market equilibrium and the impact of shifts in supply and demand, different elasticities, and price controls on market output and price.

Research and evaluate geopolitical influences on employment trends and issues at the state and national level.

Identify and analyze important economic indicators and data used to gauge the economic well-being of a society.

Provide justification for or against regulation in a free-enterprise system.

Evaluate the impact of globalization and trade on the economic wellbeing of a country.

Investigate contemporary economic policies, and analyze how political ideologies influenced their implementation.