Economics

SSEC: Economics

SSEC.A: Map and Globe Skills

SSEC.B: Information Processing Skills

SSEC.C: Fundamental Concepts

SSEC.D: Microeconomics

SSEC.E: Macroeconomics

SSEC.F: International Economics

SSEC.G: Personal Finance

SSEC.A.1: compare and contrast the categories of natural, cultural, and political features found on maps as it relates to trade

SSEC.A.2: use map key/legend to acquire information from physical, political, resource, product, and economic maps

SSEC.A.3: draw conclusions and make generalizations based on information from maps

SSEC.A.4: compare maps with data sets (e.g., charts, tables, graphs) and/or readings to draw conclusions and make generalizations

SSEC.B.5: compare similarities and differences

SSEC.B.6: identify and write about issues and/or problems and alternative solutions

SSEC.B.7: distinguish between fact and opinion as used in informational/explanatory text

SSEC.B.9: identify social studies reference resources to use for a specific purpose

SSEC.B.10: construct charts and tables

SSEC.B.11: write arguments, informative text, and explanatory text that draw conclusions and make generalizations

SSEC.B.12: analyze graphs and diagrams

SSEC.B.13: formulate appropriate research questions

SSEC.B.14: write arguments, informative text, and explanatory text that determine adequacy and/or relevancy of information

SSEC.B.15: check for consistency of information

SSEC.B.16: interpret political cartoons

SSEC.C.17: explain why limited productive resources and unlimited wants result in scarcity, opportunity costs, and tradeoffs for individuals, businesses, and governments

SSEC.C.18: give examples of how rational decision-making entails comparing the marginal benefits and the marginal costs of an action

SSEC.C.19: explain how specialization and voluntary exchange positively influence buyers and sellers

SSEC.C.20: compare and contrast different economic systems and explain how they answer the three basic economic questions: what to produce, how to produce, and for whom to produce

SSEC.C.21: describe the roles of government in the United States economy (e.g., mixed or modified private/free enterprise economy)

SSEC.C.22: explain how productivity, economic growth, and future standards of living are influenced by investment in the four factors of production, including factories, machinery, new technology, and the health, education, and training of people

SSEC.D.23: describe how households and businesses are interdependent and interact through the flow of goods, services, resources, and money

SSEC.D.24: explain how the Law of Demand, the Law of Supply, and prices work to determine production and distribution in a market economy

SSEC.D.25: explain the organization and role of business and analyze the four types of market structures in the U.S. economy

SSEC.E.26: illustrate the means by which economic activity is measured

SSEC.E.27: explain the role and functions of the Federal Reserve System

SSEC.E.28: explain how the U.S. government uses fiscal policy to promote price stability, full employment, and economic growth

SSEC.F.29: explain why individuals, businesses, and governments trade goods and services

SSEC.F.30: explain why countries sometimes erect trade barriers and sometimes advocate free trade

SSEC.F.31: explain how changes in exchange rates can have an impact on the purchasing power of groups in the United States and in other countries

SSEC.G.32: apply rational decision-making to personal spending and saving choices

SSEC.G.33: explain that banks and other financial institutions are businesses that channel funds from savers to investors

SSEC.G.34: explain how changes in taxation can have an impact on an individual's spending and saving choices

SSEC.G.35: evaluate the costs and benefits of using credit

SSEC.G.36: describe how insurance and other risk-management strategies protect against financial loss

SSEC.G.37: describe how the earnings of workers are determined in the marketplace

SSEC.B.5.a: write arguments focused on discipline-specific content by introducing precise, knowledgeable claim(s), establishing the significance of the claim(s), distinguishing the claim(s) from alternate or opposing claims, and creating an organization that logically sequences the claim(s), counterclaims, reasons, and evidence

SSEC.B.5.b: write arguments focused on discipline-specific content by developing 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 audience's knowledge level, concerns, values, and possible biases

SSEC.B.5.c: write informative/explanatory texts, including the narration of historical events by providing 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)

SSEC.B.5.d: 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

SSEC.B.6.a: write arguments focused on discipline-specific content by providing a concluding statement or section that follows from or supports the argument presented

SSEC.B.6.b: write informative/explanatory texts, including the narration of historical events by providing 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)

SSEC.B.6.c: produce clear and coherent writing in which the development, organization, and style are appropriate to task, purpose, and audience

SSEC.B.6.d: 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

SSEC.B.6.e: use technology, including the Internet, to produce, publish, and update individual or shared writing products in response to ongoing feedback, including new arguments or information

SSEC.B.6.f: 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

SSEC.B.7.a: 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

SSEC.B.7.b: evaluate an author's premises, claims, and evidence by corroborating or challenging them with other information

SSEC.B.7.c: integrate information from diverse sources, both primary and secondary, into a coherent understanding of an idea or event, noting discrepancies among sources

SSEC.B.7.d: write arguments focused on discipline-specific content by introducing precise, knowledgeable claim(s), establishing the significance of the claim(s), distinguishing the claim(s) from alternate or opposing claims, and creating an organization that logically sequences the claim(s), counterclaims, reasons, and evidence

SSEC.B.7.e: write arguments focused on discipline-specific content by developing 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 audience's knowledge level, concerns, values, and possible biases

SSEC.B.7.f: write informative/explanatory texts, including the narration of historical events by providing 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)

SSEC.B.7.g: produce clear and coherent writing in which the development, organization, and style are appropriate to task, purpose, and audience

SSEC.B.7.h: 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

SSEC.B.7.i: use technology, including the Internet, to produce, publish, and update individual or shared writing products in response to ongoing feedback, including new arguments or information

SSEC.B.8: identify and use primary and secondary sources

SSEC.B.8.a: 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 whole

SSEC.B.8.b: 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

SSEC.B.8.c: 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

SSEC.B.8.d: 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

SSEC.B.8.e: 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

SSEC.B.8.f: evaluate an author's premises, claims, and evidence by corroborating or challenging them with other information

SSEC.B.8.g: integrate information from diverse sources, both primary and secondary, into a coherent understanding of an idea or event, noting discrepancies among sources

SSEC.B.9.a: 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 whole

SSEC.B.9.b: 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

SSEC.B.9.c: 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

SSEC.B.9.d: 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

SSEC.B.9.e: evaluate authors' differing points of view on the same historical event or issue by assessing the authors' claims, reasoning, and evidence

SSEC.B.9.f: 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

SSEC.B.9.g: evaluate an author's premises, claims, and evidence by corroborating or challenging them with other information

SSEC.B.9.h: integrate information from diverse sources, both primary and secondary, into a coherent understanding of an idea or event, noting discrepancies among sources

SSEC.B.9.i: by the end of grade 12, read and comprehend history/social studies texts in the grades 11-12 text complexity band independently and proficiently

SSEC.B.9.j: write arguments focused on discipline-specific content by introducing precise, knowledgeable claim(s), establishing the significance of the claim(s), distinguishing the claim(s) from alternate or opposing claims, and creating an organization that logically sequences the claim(s), counterclaims, reasons, and evidence

SSEC.B.9.k: write arguments focused on discipline-specific content by using words, phrases, and clauses as well as varied syntax to link the major sections of the text, creating cohesion, and clarifying the relationships between claim(s) and reasons, between reasons and evidence, and between claim(s) and counterclaims

SSEC.B.9.l: write arguments focused on discipline-specific content by establishing and maintaining a formal style and objective tone while attending to the norms and conventions of the discipline in which they are writing

SSEC.B.9.m: write informative/explanatory texts, including the narration of historical events by introducing a topic and organizing complex ideas, concepts, and information so that each new element builds on that which precedes it to create a unified whole; including formatting (e.g., headings), graphics (e.g., figures, tables), and multimedia when useful to aiding comprehension

SSEC.B.9.n: write informative/explanatory texts, including the narration of historical events by developing the topic thoroughly by selecting the most significant and relevant facts, extended definitions, concrete details, quotations, or other information and examples appropriate to the audience's knowledge of the topic

SSEC.B.9.o: write informative/explanatory texts, including the narration of historical events by using varied transitions and sentence structures to link the major sections of the text, creating cohesion, and clarifying the relationships among complex ideas and concepts

SSEC.B.9.p: write informative/explanatory texts, including the narration of historical events by using precise language, domain-specific vocabulary and techniques such as metaphor, simile, and analogy to manage the complexity of the topic; conveying a knowledgeable stance in a style that responds to the discipline and context as well as to the expertise of likely readers

SSEC.B.9.q: use technology, including the Internet, to produce, publish, and update individual or shared writing products in response to ongoing feedback, including new arguments or information

SSEC.B.9.r: 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

SSEC.B.9.s: gather relevant information from multiple authoritative print and digital sources, using advanced searches effectively; assess the strengths and limitations of each source in terms of the specific task, purpose, and audience; integrate information into the text selectively to maintain the flow of ideas, avoiding plagiarism and overreliance on any one source and following a standard format for citation

SSEC.B.9.t: draw evidence from informational texts to support analysis, reflection, and research

SSEC.B.10.a: write informative/explanatory texts, including the narration of historical events by introducing a topic and organizing complex ideas, concepts, and information so that each new element builds on that which precedes it to create a unified whole; including formatting (e.g., headings), graphics (e.g., figures, tables), and multimedia when useful to aiding comprehension

SSEC.B.11.a: 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

SSEC.B.11.b: 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

SSEC.B.11.c: 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

SSEC.B.11.d: by the end of grade 12, read and comprehend history/social studies texts in the grades 11-12 text complexity band independently and proficiently

SSEC.B.11.e: write arguments focused on discipline-specific content by developing 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 audience's knowledge level, concerns, values, and possible biases

SSEC.B.11.f: write arguments focused on discipline-specific content by providing a concluding statement or section that follows from or supports the argument presented

SSEC.B.11.g: write informative/explanatory texts, including the narration of historical events by developing the topic thoroughly by selecting the most significant and relevant facts, extended definitions, concrete details, quotations, or other information and examples appropriate to the audience's knowledge of the topic

SSEC.B.11.h: write informative/explanatory texts, including the narration of historical events by using varied transitions and sentence structures to link the major sections of the text, creating cohesion, and clarifying the relationships among complex ideas and concepts

SSEC.B.11.i: write informative/explanatory texts, including the narration of historical events by using precise language, domain-specific vocabulary and techniques such as metaphor, simile, and analogy to manage the complexity of the topic; conveying a knowledgeable stance in a style that responds to the discipline and context as well as to the expertise of likely readers

SSEC.B.11.j: write informative/explanatory texts, including the narration of historical events by providing 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)

SSEC.B.11.k: produce clear and coherent writing in which the development, organization, and style are appropriate to task, purpose, and audience

SSEC.B.11.l: 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

SSEC.B.11.m: 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

SSEC.B.12.a: write informative/explanatory texts, including the narration of historical events by introducing a topic and organizing complex ideas, concepts, and information so that each new element builds on that which precedes it to create a unified whole; including formatting (e.g., headings), graphics (e.g., figures, tables), and multimedia when useful to aiding comprehension

SSEC.B.13.a: write arguments focused on discipline-specific content by using words, phrases, and clauses as well as varied syntax to link the major sections of the text, creating cohesion, and clarifying the relationships between claim(s) and reasons, between reasons and evidence, and between claim(s) and counterclaims

SSEC.B.13.b: write arguments focused on discipline-specific content by establishing and maintaining a formal style and objective tone while attending to the norms and conventions of the discipline in which they are writing

SSEC.B.13.c: 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

SSEC.B.14.a: 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

SSEC.B.14.b: 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

SSEC.B.14.c: evaluate authors' differing points of view on the same historical event or issue by assessing the authors' claims, reasoning, and evidence

SSEC.B.14.d: 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

SSEC.B.14.e: evaluate an author's premises, claims, and evidence by corroborating or challenging them with other information

SSEC.B.14.f: integrate information from diverse sources, both primary and secondary, into a coherent understanding of an idea or event, noting discrepancies among sources

SSEC.B.14.g: by the end of grade 12, read and comprehend history/social studies texts in the grades 11-12 text complexity band independently and proficiently

SSEC.B.14.h: write arguments focused on discipline-specific content by introducing precise, knowledgeable claim(s), establishing the significance of the claim(s), distinguishing the claim(s) from alternate or opposing claims, and creating an organization that logically sequences the claim(s), counterclaims, reasons, and evidence

SSEC.B.14.i: write arguments focused on discipline-specific content by using words, phrases, and clauses as well as varied syntax to link the major sections of the text, creating cohesion, and clarifying the relationships between claim(s) and reasons, between reasons and evidence, and between claim(s) and counterclaims

SSEC.B.14.j: write arguments focused on discipline-specific content by establishing and maintaining a formal style and objective tone while attending to the norms and conventions of the discipline in which they are writing

SSEC.B.14.k: write informative/explanatory texts, including the narration of historical events by developing the topic thoroughly by selecting the most significant and relevant facts, extended definitions, concrete details, quotations, or other information and examples appropriate to the audience's knowledge of the topic

SSEC.B.14.l: write informative/explanatory texts, including the narration of historical events by using varied transitions and sentence structures to link the major sections of the text, creating cohesion, and clarifying the relationships among complex ideas and concepts

SSEC.B.14.m: write informative/explanatory texts, including the narration of historical events by using precise language, domain-specific vocabulary and techniques such as metaphor, simile, and analogy to manage the complexity of the topic; conveying a knowledgeable stance in a style that responds to the discipline and context as well as to the expertise of likely readers

SSEC.B.14.n: use technology, including the Internet, to produce, publish, and update individual or shared writing products in response to ongoing feedback, including new arguments or information

SSEC.B.14.o: gather relevant information from multiple authoritative print and digital sources, using advanced searches effectively; assess the strengths and limitations of each source in terms of the specific task, purpose, and audience; integrate information into the text selectively to maintain the flow of ideas, avoiding plagiarism and overreliance on any one source and following a standard format for citation

SSEC.B.14.p: draw evidence from informational texts to support analysis, reflection, and research

SSEC.B.15.a: evaluate authors' differing points of view on the same historical event or issue by assessing the authors' claims, reasoning, and evidence

SSEC.B.15.b: write informative/explanatory texts, including the narration of historical events by introducing a topic and organizing complex ideas, concepts, and information so that each new element builds on that which precedes it to create a unified whole; including formatting (e.g., headings), graphics (e.g., figures, tables), and multimedia when useful to aiding comprehension

SSEC.B.15.c: write informative/explanatory texts, including the narration of historical events by developing the topic thoroughly by selecting the most significant and relevant facts, extended definitions, concrete details, quotations, or other information and examples appropriate to the audience's knowledge of the topic

SSEC.B.15.d: write informative/explanatory texts, including the narration of historical events by using varied transitions and sentence structures to link the major sections of the text, creating cohesion, and clarifying the relationships among complex ideas and concepts

SSEC.B.15.e: write informative/explanatory texts, including the narration of historical events by using precise language, domain-specific vocabulary and techniques such as metaphor, simile, and analogy to manage the complexity of the topic; conveying a knowledgeable stance in a style that responds to the discipline and context as well as to the expertise of likely readers

SSEC.B.15.f: gather relevant information from multiple authoritative print and digital sources, using advanced searches effectively; assess the strengths and limitations of each source in terms of the specific task, purpose, and audience; integrate information into the text selectively to maintain the flow of ideas, avoiding plagiarism and overreliance on any one source and following a standard format for citation

SSEC.B.15.g: draw evidence from informational texts to support analysis, reflection, and research

SSEC.B.16.a: write informative/explanatory texts, including the narration of historical events by introducing a topic and organizing complex ideas, concepts, and information so that each new element builds on that which precedes it to create a unified whole; including formatting (e.g., headings), graphics (e.g., figures, tables), and multimedia when useful to aiding comprehension

SSEC.C.17.a: define scarcity as a basic condition that exists when unlimited wants exceed limited productive resources

SSEC.C.17.b: define and give examples of productive resources (i.e., factors of production): natural resources (i.e., land), human resources (i.e., labor and human capital), physical capital (i.e., capital goods and financial capital vs. money), and entrepreneurship by constructing charts and/or tables

SSEC.C.17.c: explain the motivations that influence entrepreneurs to take risks (e.g., profit, job creation, innovation, and improving society) by formulating appropriate research questions

SSEC.C.17.d: define opportunity cost as the next best alternative given up when individuals, businesses, and governments confront scarcity by making choices

SSEC.C.17.e: explain opportunity cost and tradeoffs between two options through the use of a production possibilities curve/frontier by analyzing graphs and diagrams

SSEC.C.18.a: define marginal cost and marginal benefit in comparison to total cost and total benefit by analyzing charts and/or tables 

SSEC.C.18.b: explain that rational decisions occur when the marginal benefits of an action equal or exceed the marginal costs by analyzing charts and/or tables that exemplify using cost-benefit analysis and a decision making model

SSEC.C.18.c: explain that people, businesses, and governments respond to positive and negative incentives in predictable ways

SSEC.C.19.a: explain how and why individuals and businesses specialize, including division of labor using primary and secondary sources (including charts, tables, and graphs)

SSEC.C.19.b: explain that overall both parties gain as a result of voluntary, non-fraudulent exchange in the long term

SSEC.C.20.a: compare the similarities and differences of traditional, command, market, and mixed economic systems with regard to private ownership, profit motive, consumer sovereignty, competition, and government regulation

SSEC.C.20.b: analyze how each type of system answers the three economic questions and meets the broad social and economic goals of freedom, security, equity, growth, efficiency, price stability, full employment, and sustainability, by constructing charts and tables

SSEC.C.20.c: compare and contrast strategies used in different economic systems for allocating scarce resources, such as by price, majority rule, contests, force, sharing, lottery, authority, first-come-first-served, and personal characteristics

SSEC.C.21.a: explain why government provides public goods and services, redistributes income, protects property rights, and resolves market failures using primary and secondary sources

SSEC.C.21.b: explain the effects on consumers and producers caused by government regulation and deregulation  including interpreting political cartoons and writing explanatory text that draws conclusions

SSEC.C.22.a: define productivity as the relationship of inputs to outputs

SSEC.C.22.b: explain how investment in equipment and technology can lead to economic growth using primary and secondary resources to write arguments/explanatory text to draw conclusions

SSEC.C.22.c: explain how investments in human capital (e.g., education, job training, and healthcare) can lead to a higher standard of living using primary and secondary sources (including charts and graphs)

SSEC.C.22.d: analyze by means of a production possibilities curve: trade-offs, opportunity cost, growth, and efficiency

SSEC.D.23.a: illustrate a circular flow diagram that includes the product market, the resource (factor) market, households, and firms

SSEC.D.23.b: explain the real flow of goods, services, resources, and money between and among households and firms

SSEC.D.24.a: define the law of supply and the law of demand

SSEC.D.24.b: distinguish between supply and quantity supplied, and demand and quantity demanded by analyzing charts and graphs

SSEC.D.24.c: describe the role of buyers and sellers in determining market clearing price (i.e., equilibrium) by analyzing charts and graphs

SSEC.D.24.d: illustrate on a graph how supply and demand determine equilibrium price and quantity

SSEC.D.24.e: identify the determinants (shifters) of supply (e.g., changes in costs of productive resources/inputs, government regulations, number of sellers/producers, producer expectations, technology, and education) and illustrate the effects on a supply and demand graph

SSEC.D.24.f: identify the determinants (shifters) of demand (e.g., changes in related goods (substitutes/complements), income, consumer expectations, consumer preferences/tastes, and number of consumers) and illustrate the effects on a supply and demand graph

SSEC.D.24.g: explain the difference between elastic and inelastic demand and its responsiveness to change in price by analyzing charts and graphs

SSEC.D.24.h: explain and illustrate on a graph how prices set too high (e.g., price floors) create surpluses, and prices set too low (e.g., price ceilings) create shortages

SSEC.D.25.a: compare and contrast three forms of business organization—sole proprietorship, partnership, and corporation with regard to number of owners, liability, lifespan, decision-making, ease to start and close, and taxation by constructing charts and/or tables

SSEC.D.25.b: identify the basic characteristics of the market structures of monopoly, oligopoly, monopolistic competition, and pure (perfect) competition with regard to number of sellers, barriers to entry, price control (price makers vs. price takers), and product differentiation by constructing a chart, table, or diagram

SSEC.D.25.c: explain the differences between the following types of monopolies - technological monopoly, natural monopoly, geographical monopoly, and government monopoly by constructing and/or analyzing charts and/or tables

SSEC.E.26.a: incorporate the role of government into the circular flow model and check that information remains consistent when analyzing a graph and/or diagram

SSEC.E.26.b: identify and describe the macroeconomic goals of steady economic growth, stable prices, and full employment based on the broad social goals of the four economic systems by constructing a charts, tables, graphs, and/or diagrams

SSEC.E.26.c: define Gross Domestic Product (GDP) as the sum of Consumer Spending, Investment, Government Spending, and Net Exports (output expenditure model) Be able to identify what is included and excluded from GDP

SSEC.E.26.d: define unemployment rate, Consumer Price Index (CPI), inflation, real GDP, aggregate supply, and aggregate demand and explain how each is used to evaluate the macroeconomic goals from AKS 26b; compare and contrast aggregate demand and demand, and aggregate supply and supply

SSEC.E.26.e: give examples of who benefits and who loses from unanticipated inflation

SSEC.E.26.f: identify seasonal, structural, cyclical, and frictional unemployment

SSEC.E.26.g: define the stages of the business cycle including: peak, contraction, trough, recovery/expansion, as well as specify the difference between a recession and a depression by analyzing graphs and/or diagrams

SSEC.E.27.a: explain the roles/functions of money as a medium of exchange, store of value, and unit of account/standard of value

SSEC.E.27.b: describe the organization of the Federal Reserve System (12 Districts, Federal Open Market Committee (FOMC), and Board of Governors) by analyzing graphs and/or diagrams

SSEC.E.27.c: define monetary policy

SSEC.E.27.d: define the tools of monetary policy including reserve requirement, discount rate, open market operations, and interest on reserves

SSEC.E.27.e: describe the organization of the Federal Reserve System (12 Districts, Federal Open Market Committee (FOMC), and Board of Governors) by analyzing graphs and/or diagrams 

SSEC.E.28.a: define fiscal policy

SSEC.E.28.b: introduce different types of taxes, including proportional, progressive, and regressive. Explain the effect on the economy of the government's taxing and spending decisions in promoting price stability, full employment, and economic growth by analyzing graphs, tables, graphs, and/or diagrams

SSEC.E.28.c: explain how government budget deficits or surpluses impact national debt by analyzing graphs and/or diagrams

SSEC.F.29.a: define and distinguish between absolute advantage and comparative advantage by comparing their similarities and differences

SSEC.F.29.b: explain that most international trade takes place because of comparative advantage in the production of a good or service as a result of opportunity cost by analyzing charts and/or tables

SSEC.F.29.c: define balance of trade, trade surplus, and trade deficit

SSEC.F.30.a: define trade barriers such as tariffs, quotas, embargoes, standards, and subsidies

SSEC.F.30.b: identify costs and benefits of trade barriers to consumers and producers over time

SSEC.F.30.c: describe the purpose of trading blocs such as the EU, United States-Mexico-Canada Agreement (USMCA), and ASEAN by analyzing maps, charts and/or tables

SSEC.F.30.d: evaluate arguments for and against free trade (protectionism) by identifying and writing about issues, outcomes, and/or problems

SSEC.F.31.a: define exchange rate as the price of one nation's currency in terms of another nation's currency

SSEC.F.31.b: interpret changes in exchange rates in regard to appreciation and depreciation of currency by analyzing charts and/or graphs

SSEC.F.31.c: explain why some groups benefit and others lose when exchange rates change by analyzing charts and/or graphs

SSEC.G.32.a: use a rational decision making model to evaluate the costs and benefits of post-high school life choices (i.e., college, technical school, military enlistment, workforce participation, or another options)

SSEC.G.32.b: create a budget that includes a savings or financial investment plan for a future goal

SSEC.G.33.a: compare services offered by different financial institutions, including banks, credit unions, payday lenders, and title pawn lenders using primary and secondary sources

SSEC.G.33.b: explain reasons for the spread between interest charged and interest earned

SSEC.G.33.c: give examples of the direct relationship between risk and return

SSEC.G.33.d: evaluate the risk and return of a variety of savings and investment options, including: savings accounts, certificates of deposit, retirement accounts, stocks, bonds, and mutual funds by writing arguments, informative text, and/or explanatory text that draw conclusions and make generalizations

SSEC.G.34.a: define and provide examples for progressive, regressive, and proportional taxes

SSEC.G.34.b: explain how an increase in sales tax (regressive tax) affects different income groups

SSEC.G.34.c: explain the impact of property taxes (proportional tax) on individuals and communities using primary and secondary sources including analyzing graphs and/or diagrams

SSEC.G.35.a: describe factors that affect credit worthiness and the ability to receive favorable interest rates including character (credit score), collateral, and capacity to pay by analyzing information in order to formulate arguments that draw conclusions and make generalizations

SSEC.G.35.b: compare interest rates on loans and credit cards from different institutions by analyzing graphs, diagrams, and/or graphs

SSEC.G.35.c: define annual percentage rate (APR) and explain the difference between simple and compound interest rates, as well as fixed and variable interest rates by analyzing graphs, diagrams, and/or graphs

SSEC.G.36.a: list and describe various types of insurance such as automobile, health, life, disability, renter's, and property by using graphs, diagrams, graphs, and/or diagrams

SSEC.G.36.b: explain the costs and benefits associated with different types of insurance including deductibles, premiums, shared liability, and asset protection by using graphs, diagrams, graphs, and/or diagrams

SSEC.G.37.a: identify skills that are required to be successful in the workplace including positive work ethics, punctuality, time management, team work, communication skills, and good character by identifying and writing about issues or problems and alternative solutions

SSEC.G.37.b: explore job and career options and explain the significance of investment in education, training, and skill development (human capital) as it relates to future earnings by using primary and secondary sources