EconEdLink

STANDARDS

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: 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: Fiscal and Monetary Policy

Standard: 20

• Students will understand that: Federal government budgetary policy and the Federal Reserve System's monetary policy influence the overall levels of employment, output, and prices.
• Students will be able to use this knowledge to: Anticipate the impact of the federal government and the Federal Reserve System macroeconomic policy decisions on themselves and others.

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.