Economics-3rd Grade

Understand economic systems with an emphasis on the United States. Understand moral aspects of the economic systems of the United States. 

Understand how different economic systems operate in exchange, production, distribution and consumption of goods and services. Understand the moral consequences of how different economic systems operate in exchange, production, distribution and consumption of goods and services. Identify the motivating values that have informed particular societies and how they correlate with Catholic teaching. CSIS7 (7-12 CS)      Explain how one’s beliefs about God, about humanity, and about material things, affect one’s actions .CSIS7 (K-6 CS)

Understand that scarcity necessitates choices by consumers. Understand that scarcity necessitates consumer choices which have moral implications. Discriminate between what is positive in the world, what needs to be transformed, and what injustices must be overcome. CSDS4 Explain how one’s beliefs about God, about humanity, and about material things, affect one’s actions. CSIS7

Understand that scarcity necessitates choices by producers. Understand that scarcity necessitates producer choices which have moral implications. Explain how one’s beliefs about God, about humanity, and about material things, affect one’s actions. CSIS7          Value and develop a love for the common good and our shared humanity, not just with those around us, but for those who have gone before and those who will come after us. CSDS2 (7-12 CS)

Understanding trade as an exchange of goods or services. Understand moral values behind the understanding of trade as an exchange of goods and services. Explain how one’s beliefs about God, about humanity, and about material things, affect one’s actions. CSIS7

Understand the impact of government policies and decisions on production and consumption in the economy. Understand the moral implications of policies and decisions on production and consumption. Explain how one’s beliefs about God, about humanity, and about material things, affect one’s actions. CSIS7

Explain why a choice must be made, given an example of a limited resource and a list of alternative uses for the resource.

Explain how the choices we make can be influenced by our Catholic beliefs rather than economics.

Analyze the advantages and disadvantages of distributing a good or service in different ways.

List jobs people do to earn wages.

Identify producers of goods and services in the community.

List the sources of money in their life, and identify money they receive for work.

Match a list of wants with an example of a good, service, or leisure activity that satisfies each wants.

Identify a consumer choice made by families and explain why a choice had to be made; explain the choice based on moral responsibilities.

Choose from among three or more items and identify the opportunity cost as the next best alternative.

List examples of producers in the economy and identify what they produce.

List producers who follow/adhere to Catholic values. Explain why.

Classify productive resources as human, natural, and capital.

Explain that productive resources are limited.

Describe an exchange that individual students have made. Explain the results of the trade/exchange. Discuss how the trade was fair to all parties. 

List examples of exchanges families make, with and without money.

Describe how money makes exchange easier.

Compare fair trade and the Golden Rule.

Distinguish between public goods and services and private goods and services.

Compare/contrast public schools and Catholic schools.

Describe examples of public goods and services in the community or state.

Identify governments as the providers of public goods and services.