Economics-4th 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

Identify the resources (human, natural, capital) used in the production of goods and services.

Identify alternative uses for a given a set of resources.

Define labor (i.e., human resource used to produce goods and services).

Explain how wages or salaries (the price of labor) act as incentives for people to provide labor.

Distinguish between "unemployed" and "nonemployed" persons in the economy.

Identify skills and knowledge needed for a job.

Discuss how to treat workers with dignity and to insure non-discrimination.

Identify criteria they use when making consumer choices.

Identify the cost of a recent consumer choice they have made.

Identify criteria aligned with Catholic values that students use when making consumer choices (e.g., clothing, music, games).

Explain supply and demand.

Define "entrepreneur."

Classify examples of human, natural, and capital resources.

Tell why conservation of God’s creation is important and list things they can do to conserve.

Describe a monetary exchange that students have made and explain why they were willing to exchange money for a good or service.

Identify current and historical examples of exchange (both barter and monetary).

Identify the division of labor in a simple production and the need for fairness.

Identify examples of division of labor in the school, community and Church.

Define public goods and services.

Explain types of taxes and name at least two taxes students or adults pay.

Explain how governmental bodies use taxes.

Identify services provided by the Church and how they are funded.