These standards of economic instruction are meant to prepare high school students for entry into the workforce and entrepreneurship as well as for post-secondary education.
| Standard - The student will: |
Content Knowledge and Skills: |
Bank Jr.com |
Bankjr.com Topic |
| 01. Understand basic economic concepts. |
| a. Define scarcity and explain its implications in decision making. |
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| b. Know ways in which the interaction of all buyers and sellers influence prices. |
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| c. Define credit and debt and explain their effects. |
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Credit,
Credit Cards,
The Cost of Credit |
| d. Identify the incentives that determine what is produced and distributed in a competitive market system. |
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| e. Describe the concept of interest and explain how interest rates are determined. |
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Credit,
Credit Cards,
Cost of Credit,
How Credit Affects the Economy |
| f. Compare and contrast free market and controlled economies of various nations and eras. |
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| g. Apply economic concepts to explain the role of imports/exports both nationally and internationally. |
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International Trade |
| Standard - The student will: |
Content Knowledge and Skills: |
Bank Jr.com |
Bankjr.com Topic |
| 01. Understand the concept of money. |
| a. Analyze the role of money as a medium of exchange. |
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Wants versus Needs |
| b. Explain how money derives its value. |
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Budgeting,
Spending,
Cash Flow,
Savings |
| Standard - The student will: |
Content Knowledge and Skills: |
Bank Jr.com |
Bankjr.com Topic |
| 01. Understand there are many influences on economic systems. |
| a. Explain the impact of culture, values, and belief systems on economic systems. |
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| b. Explain and illustrate environmental and geographical impacts on economic policies and decisions made by federal, state, regional, and local officials. |
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| c. Describe and illustrate the impact of governmental policies and decisions on economic systems. |
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| Standard - The student will: |
Content Knowledge and Skills: |
Bank Jr.com |
Bankjr.com Topic |
| 01. Know the different types of economic institutions and understand how they differ from one another. |
| a. Know the characteristics of various types of business structures. |
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| b. Identify the business characteristics of an entrepreneur. |
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| c. Identify the role of the stock market. |
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Savings,
Investing |
| d. Explain the role of banking institutions. |
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Banks,
Why do we need banks?,
History of U.S. Banking |
| e. Explain the purposes of labor unions. |
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| Standard - The student will: |
Content Knowledge and Skills: |
Bank Jr.com |
Bankjr.com Topic |
| 01. Understand the concepts of good personal finance. |
| a. Examine and apply the elements of responsible personal fiscal management. |
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Income,
Spending,
Goals,
Budgeting,
Wants Versus Needs,
Cash Flow,
Checking,
Saving,
Credit,
Credit Cards |
| b. Identify and evaluate sources and examples of consumers' responsibilities and rights. |
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| c. Define the concept of taxation as applied to personal finances. |
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