National Standards in Economics
Name: Fiscal and Monetary Policy
- 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: Role of Government and Market Failure
- Students will understand that: There is an economic role for government in a market economy whenever the benefits of a government policy outweigh its costs. Governments often provide for national defense, address environmental concerns, define and protect property rights, and attempt to make markets more competitive. Most government policies also have direct or indirect effects on people's incomes.
- Students will be able to use this knowledge to: Identify and evaluate the benefits and costs of alternative public policies, and assess who enjoys the benefits and who bears the costs.
Common Core State Standards
Standard: College and Career Readiness Anchor Standards for Reading
Area: College and Career Readiness Anchor Standards for Reading
- Delineate and evaluate the argument and specific claims in a text, including the validity of the reasoning as well as the relevance and sufficiency of the evidence.
Standard: History/Social Studies -- Grade 11-12
Area: History/Social Studies -- Grade 11-12
- Integrate and evaluate multiple sources of information presented in diverse formats and media (e.g., visually, quantitatively, as well as in words) in order to address a question or solve a problem.
Standard: History/Social Studies -- Grade 9-10
Area: History/Social Studies -- Grade 9-10
- Compare the point of view of two or more authors for how they treat the same or similar topics, including which details they include and emphasize in their respective accounts.