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National
Standards in Economics

Below are the National Standards in Economics that most closely relate to the following interactive tool.

INTERACTIVE

Making Sen$e with Paul Solman: So You Have a Liberal Arts Degree and Want a Job? ~ http://www.econedlink.org/i152

Grades: 9-12

STANDARDS

Name: Income

Standard: 13

  • Students will understand that: Income for most people is determined by the market value of the productive resources they sell. What workers earn primarily depends on the market value of what they produce.
  • Students will be able to use this knowledge to: Predict future earnings based on their current plans for education, training, and career options.

Name: Unemployment and Inflation

Standard: 19

  • Students will understand that: Unemployment imposes costs on individuals and the overall economy. Inflation, both expected and unexpected, also imposes costs on individuals and the overall economy. Unemployment increases during recessions and decreases during recoveries.
  • Students will be able to use this knowledge to: Make informed decisions by anticipating the consequences of inflation and unemployment.

Name: Economic Growth

Standard: 15

  • Students will understand that: Investment in factories, machinery, new technology, and in the health, education, and training of people stimulates economic growth and can raise future standards of living.
  • Students will be able to use this knowledge to: Predict the consequences of investment decisions made by individuals, businesses, and governments.