TWELFTH GRADE

Economics

 

Economics is a one-semester required course for the twelfth grade that focuses on functions and institutions of modern-day economic systems and economic theory.  Students use the knowledge and analytical-thinking skills learned in previous courses and grades to analyze issues and problems in contemporary economic systems.  They examine the consequences of public policies and their impact upon current economic conditions.  Mastering economics knowledge and skills enables students to anticipate changes in economic conditions and to take appropriate action that improves their lives as well as society.

 

Twelfth-grade students are developmentally capable of complex analytical thinking.  Many twelfth-grade students are already actively contributing to the economy through participation as consumers or employees.  Course content and effective instructional methods encourage the development of skills for recognizing economic and social problems, proposing alternatives, and evaluating the costs and benefits of choices.  To involve all students in learning activities that interest them, that assist in retention of learning, and that provide valuable life skills, Grade 12 Economics is designed to include analysis of primary sources and economic data, economic research using technological resources, group presentations using computer technology, and active learning opportunities such as simulation.

 

Cherokee County Schools:  This document correlates the Alabama Course of Study: Social Studies content standards with the Alabama High School Graduation Exam (AHSGE) and the state/county adopted textbooks.  Information in the columns labeled NCLB Reading/Writing and Resources is suggested.  All material in the column labeled Alabama Course of Study is minimum and required content for instruction. Content standards marked (*) denote content that is required but not covered by the textbook.

 

Directions: The location of the course of study standards in the text is in the first column of the local document.  They are listed by chapter and section.  The second column contains state standards followed by dominant strands.  The standards are presented in the order they appear in the text.  The third column includes an AHSGE correlation, if indicated.  The last two columns are the suggested resources for reading/writing strategies and additional information on the standard.

 

 

 

 

Text Location

Ch./Sec.

 

Alabama Course of Study

E

G

H

PS

 

Alabama High School Graduation Exam

 

NCLB

Reading/Writing

 

Resources

 

1/1

 

 

 

 

 

 

 

 

 

1. Explain the role of scarcity in answering the basic economic questions of what, how, how much, and for whom to produce.

 

Example: opportunity cost

 

C. Identifying how factors of production and the circular flow of goods and services meet market needs

X

X

 

 

N/A

Reading and Writing Guidebooks.

www.socialstudiesforkids.com/articles/economics/scarcityandchoices/.htm

1/2

1. Explain the role of scarcity in answering the basic economic questions of what, how, how much, and for whom to produce.

 

Example: opportunity cost

X

X

 

 

N/A

Reading and Writing Guidebooks.

 

1/3

1. Explain the role of scarcity in answering the basic economic questions of what, how, how much, and for whom to produce.

 

Example: opportunity cost

X

X

 

 

N/A

Reading and Writing Guidebooks.

 

2/1

1. Explain the role of scarcity in answering the basic economic questions of what, how, how much, and for whom to produce

Example: opportunity cost

 

A. Identifying positive and negative aspects of economic growth

 

2. Compare the development and characteristics of the world’s traditional, command, and market economies.

 

C. Explaining how the desire for growth potential, labor supplies, product supplies, and adaptive capability influence a country’s choice of economic system

 

D. Comparing costs and benefits of economic growth

X

X

X

X

N/A

Reading and Writing Guidebooks.

www.ciesin.org/IC/wbank/tde-home.html

2/2

2.  Compare the development and characteristics of the world’s traditional, command, and market economies.

 

A. Identifying contributors to modern economics

 

Examples: Adam Smith and laissez-faire, Karl Marx and Communism

 

E. Explaining why the characteristics of a market economy result in a thriving economy.

 

Examples: importance of well-defined private property rights, importance of a well-functioning price system

X

X

X

X

N/A

Reading and Writing Guidebooks.

 

2/3

2.  Compare the development and characteristics of the world’s traditional, command, and market economies.

 

A. Identifying contributors to modern economics

 

Examples: Adam Smith and laissez-faire, Karl Marx and Communism

 

B. Describing the struggle experienced by economies in transition from one type of economic system to another

 

Examples: Russia, Vietnam, Romania, Iraq, China

 

F. Contrasting economic systems of various countries with the market system of the United States

 

Examples: Japan, Germany, United Kingdom, China, Cuba, North Korea, Mexico, Canada, transitioning economies of former Soviet Union.

X

X

X

X

N/A

Reading and Writing Guidebooks.

 

2/4

2.  Compare the development and characteristics of the world’s traditional, command, and market economies.

X

X

X

X

N/A

Reading and Writing Guidebooks.

 

3/1

6.  Explain costs and benefits of government intervention in the economy of the United States.

 

A. Identifying economic goals for the economy of the United States

 

Examples: economic growth, economic efficiency, economic security, economic freedom

X

 

X

X

N/A

Reading and Writing Guidebooks.

www.socialstudieshelp.com/Eco_Free_Enterprise.htm

3/2

6.  Explain costs and benefits of government intervention in the economy of the United States.

 

G. Describing the effect of the patent system of the United States on the number of inventions produced by American inventors

 

7.  Describe methods by which the United States measures domestic output, national income, and price level.

X

X

 

 

N/A

Reading and Writing Guidebooks.

 

3/3

6.  Explain costs and benefits of government intervention in the economy of the United States.

 

C. Explaining conditions under which government intervention may be chosen.

 

Examples: absence of incentives, negative externalities, need for consumer and labor protection.

 

E. Predicting the effect of public policy decisions on the individual

Examples: positive and negative externalities, public goods and services versus private goods and services.

X

 

X

X

N/A

Reading and Writing Guidebooks.

 

3/4

6.  Explain costs and benefits of government intervention in the economy of the United States.

X

 

X

X

N/A

Reading and Writing Guidebooks

 

4/1

3. Analyze graphs to determine changes in supply and demand and their effect on equilibrium price and quality.

X

 

 

X

N/A

Reading and Writing Guidebooks

ecedweb.unomaha.edu/Dem_Sup/demand.htm

4/2

3. Analyze graphs to determine changes in supply and demand and their effect on equilibrium price and quality.

 

A. Illustrating how changes in the determinants of supply and demand affect the supply and demand for products in the market.

 

Examples: prices of related goods, consumer tastes and preferences, expectations of future prices, number of consumers and producers.

X

 

 

X

N/A

Reading and Writing Guidebooks

 

4/3

3. Analyze graphs to determine changes in supply and demand and their effect on equilibrium price and quality.

X

 

 

X

N/A

Reading and Writing Guidebooks

 

5/1

3. Analyze graphs to determine changes in supply and demand and their effect on equilibrium price and quality.

X

 

 

X

N/A

Reading and Writing Guidebooks

www.investopedia.com/university/economics/economics3.asp

5/2

3. Analyze graphs to determine changes in supply and demand and their effect on equilibrium price and quality.

 

A. Illustrating how changes in the determinants of supply and demand affect the supply and demand for products in the market

 

Examples: prices of related goods, consumer tastes and preferences, expectations of future prices, number of consumers and producers.

X

 

 

X

N/A

Reading and Writing Guidebooks

 

5/3

3. Analyze graphs to determine changes in supply and demand and their effect on equilibrium price and quality.

 

B. Explaining the impact of government-imposed price ceilings and floors and the impact of taxes and regulations on the market demand for a product

X

 

 

X

N/A

Reading and Writing Guidebooks

 

6/1

3. Analyze graphs to determine changes in supply and demand and their effect on equilibrium price and quality.

 

B. Explaining the impact of government-imposed price ceilings and floors and the impact of taxes and regulations on the market demand for a product

X

 

 

X

N/A

Reading and Writing Guidebooks

www.readtofeed.org/for_teachers_leaders_and_parents/curriculum_guide_5th_6th/economics.asp

6/2

3. Analyze graphs to determine changes in supply and demand and their effect on equilibrium price and quality.

 

A. Illustrating how changes in the determinants of supply and demand affect the supply and demand for products in the market

 

Examples: prices of related goods, consumer tastes and preferences, expectations of future prices, number of consumers and producers.

X