Economics-7th 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 .CSIS 7 (K-6 CS)       Distinguish the religious dimensions and basic elements of Christian social ethics within historical events. CSIS19 (7& 8)

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       Value one’s own role and dignity as man in God’s plan and creation. CSGS5 (7&8)

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 (K-6 CS)      Demonstrate the ways men and societies change and/or persist over time to better understand the human condition. CSIS8 (7&8)

Explain that consumer demand determines what producers will produce in a market economy. 

Explain the relationship between productive resources households sell to businesses and the goods and services businesses sell to households. Include the payments received.

Identify times when students or adults are consumers and when students or adults are producers.

Discuss the relationship between productivity and wages based on the Church’s teaching about dignity and rights of the worker.

Explain why people are both consumers and producers.

Identify markets where buyers and sellers meet face-to-face and markets in which buyers and sellers never meet directly.

Explain the benefits to consumers of competition among sellers.

Analyze the impact on prices of competition among buyers as measured by our responsibility as stewards of God’s creation.

Analyze how changes in price affect producer behavior.

Explain why people’s response to an incentive may vary because of differing values or influenced by religious teaching.

Predict the impact on supply of a goods or service when non-price determinants change (e.g., number of producers; cost of production).

Identify exports produced in the local community or state.

Explain why countries benefit when they exchange goods and services.

Explain how specialization usually increases productivity in an economy.

Provide examples of how specialization increases interdependence among consumers and producers.

Explain how technological changes have led to new and improved products.

Explain how people’s incomes reflect choices they have made about education, training, skill development, and careers.

Explain how materialism should be tempered by a sense of justice and trade should be based on mutual benefit.

Identify new technologies over time and explain their impact on the economy.

Identify laws and government policies that protect property rights, enforce contracts, and maintain competition.

Explain why there is a role for government in the economy.

Discuss the role we all play in protecting the poor and vulnerable.

Explain how laws and government policies affecting the economy have changed over time.