EconEdLink

National
Standards in Economics

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


LESSON

How Global is Your Portfolio? ~ http://www.econedlink.org/e918

Grades: 3-5, 6-8


STANDARDS

Name: Institutions

Standard: 10

  • Students will understand that: Institutions evolve and are created to help individuals and groups accomplish their goals. Banks, labor unions, markets, corporations, legal systems, and not-for-profit organizations are examples of important institutions. A different kind of institution, clearly defined and enforced property rights, is essential to a market economy.
  • Students will be able to use this knowledge to: Describe the roles of various economic institutions and explain the importance of property rights in a market economy.