Social Studies Framework Quarter 1/Quarter 3 Economics

IntroductionIn 2014, the Shelby County Schools Board of Education adopted a set of ambitious, yet attainable goals for school and student performance. The District is committed to these goals, as further described in our strategic plan, Destination 2025. By 2025,

80% of our students will graduate from high school college or career ready 90% of students will graduate on time 100% of our students who graduate college or career ready will enroll in a post-secondary opportunity.

In order to achieve these ambitious goals, we must collectively work to provide our students with high quality, College and Career Ready standards-aligned instruction. Acknowledging the need to develop competence in literacy and language as the foundations for all learning, Shelby County Schools developed the Comprehensive Literacy Improvement Plan (CLIP). The plan ensures a quality balanced literacy approach to instruction that results in high levels of literacy learning for all students and across content areas. Destination 2025, the Comprehensive Literacy Improvement Plan, and TN State Standards establish common goals and expectations for student learning across schools and are the underpinning for the development of the curriculum frameworks/maps.

Purpose - This curriculum framework or map is meant to help teachers and their support providers (e.g., coaches, leaders) on their path to effective, college and career ready (CCR) aligned instruction and our pursuit of Destination 2025. It is a resource for organizing instruction around the TN State Standards, which define what to teach and what students need to learn at each grade level. The framework is designed to reinforce the grade/course-specific standards and content—the major work of the grade (scope)—and provides a suggested sequencing and pacing and time frames, aligned resources—including complex texts, sample questions and tasks, and other planning tools. Our hope is that by curating and organizing a variety of standards-aligned resources, teachers will be able to spend less time wondering what to teach and searching for quality materials (though they may both select from and/or supplement those included here) and have more time to plan, teach, assess, and reflect with colleagues to continuously improve practice and best meet the needs of their students.

The map is meant to support effective planning and instruction to rigorous standards; it is not meant to replace teacher planning or prescribe pacing or instructional practice. In fact, our goal is not to merely “cover the curriculum,” but rather to “uncover” it by developing students’ deep understanding of the content and mastery of the standards. Teachers who are knowledgeable about and intentionally align the learning target (standards and objectives), topic, text(s), task, topic, and needs (and assessment) of the learners are best-positioned to make decisions about how to support student learning toward such mastery. Teachers are therefore expected--with the support of their colleagues, coaches, leaders, and other support providers--to exercise their professional judgement aligned to our shared vision of effective instruction, the Teacher Effectiveness Measure (TEM) and related best practices. However, while the framework allows for flexibility and encourages each teacher/teacher team to make it their own, our expectations for student learning are non-negotiable. We must ensure all of our children have access to rigor—high-quality teaching and learning to grade level specific standards, including purposeful support of literacy and language learning across the content areas. It is essential for students to strategically leverage their literacy skills to comprehend informational texts and explicitly demonstrate competence in thinking, reading, writing, and communicating. Integration of literacy skills is critical for student success in post-secondary education and to prepare students, teachers must regularly engage students with:

(1) Regular practice with complex text and vocabulary.(2) Reading, writing, and speaking grounded in evidence from texts. (3) Using literacy skills to gain knowledge and demonstrate competence in rigorous activities and tasks.

Effective Social Studies instruction should model and teach students to effectively manage and analyze information using literacy skills and strategies. This requires consistent demonstration and practice of how to use literacy skills with Social Studies content. (An example of an effective daily lesson agenda appears at the end of this document.) Document–Based Questions (DBQs) and Text Dependent Questions (TDQs) are included in the suggested activities throughout this

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Social Studies Framework Quarter 1/Quarter 3 Economics

document. “Best Practice” requires student to regularly engage with challenging texts and requires students to substantiate their answers using evidence taken from the text/passage.

“The implementation of Common Core State Standards is a full-school endeavor, not just a project for math and ELA teachers. The Common Core State Standards, in addition to the English Language Arts (ELA) Standards, includes Literacy (reading and writing) standards for the “specialized disciplines” of history, social studies, science, and technical subjects for grades 6-12. Teachers of all grades and subjects can integrate math and literacy skills and activities into their disciplines in order to harness the power of the Common Core to improve student learning across the board.”Source: TNCorehttp://www.tncurriculumcenter.org/social_studies

To support literacy and language learning across the content areas and support deeper knowledge building in the content area, throughout this curriculum map, you will see high-quality texts from both the textbook(s) and external/supplemental texts to ensure students are reading appropriately complex, worthwhile material. These texts have been evaluated by district staff to ensure that they meet criteria for text complexity--Quantitative, Qualitative, and Reader & Task Factors.  Lexile Levels are listed on the Curriculum Maps, and additional information is cited, where available.

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KeyATOS: ATOS (Renaissance Learning); DRP: Degrees of Reading Power (Questar); FK: Flesch Kincaid (public domain, no mass analyzer tool available); Lexile: Lexile Framework (MetaMetrics); SR: Source Rater (ETS); RM: Pearson Reading Maturity Metric (Pearson Education)

Social Studies Framework Quarter 1/Quarter 3 Economics

Note:

What is a DBQ/TDQ?

Document-Based Questions (DBQs) and Text-Dependent Questions (TDQs) are for all students, from elementary school through high school. They are a type of authentic assessment and a way for students to interact with historical records and information.

DBQS/TDQs, may not only be in the form of an actual question, but rather in the form of tasks or activities that requires students to read, analyze, gather information, complete scaffolding responses assimilate or synthesize information from the listed resources, text or documents.

Throughout this map, the suggested activities are designed to help students gain strength in content knowledge and to provide opportunities at high levels of thinking as they develop life skills.

*If hyperlinks in this document are not active due to digital translation issues, the user should copy and paste the link into the address bar of a web browser such as Google Chrome or Mozilla Firefox.

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Social Studies Framework Quarter 1/Quarter 3 Economics

Vocabulary Instruction

Effective vocabulary development occurs both incidentally and through explicit instruction. Mastery requires daily immersion in word-rich environments, while teaching and modeling word learning strategies—from the use of context clues and concept maps (to connect related ideas) to understanding the nuance of words: origin, root, and/or affixes.  In all content areas, terms should be integrated into tasks and reinforced over time and across contexts.

Basic Vocabulary (Tier 1) - Words that commonly appear in spoken language and are heard frequently in numerous contexts. Tier 1 words rarely require explicit instruction. (Ex: write, read and gather)

Academic Vocabulary (Tier 2) - High frequency words used across content areas. (Ex: expose, establish and verify.) Tier Two words are general academic words and appear in all sorts of texts: informational, technical, and literary texts. Explicit instruction of the Tier 2 academic words, typically occurs within the context of the text is required in order for students to know and use these words. Tier Two words often represent precise ways to say relatively simple things (Ex: “saunter” vs. “walk”). (For more information consult the BUSD Grade Level Academic Vocabulary, http://www.berkeleyschools.net/wp-content/uploads/2013/05/BUSD_Academic_Vocabulary.pdf)   Content Vocabulary (Tier 3) - Words are used in specific content areas or domains. Tier 3 words are central to building knowledge and conceptual understanding within the various academic domains and are an integral part of content instruction. (Ex: lynching, abolitionist, slavery) Tier Three words are what the standards refer to as “domain-specific” words are specific to a particular field of study (Ex: legislature, Angora, slavery) and key to understanding a new concept within a text. These words are often explicitly defined by the text, repeatedly used, and heavily front-loaded by the teacher.

Teaching Vocabulary for Mastery… Vocabulary mastery means that students know and use the words accurately without hesitation. This requires explicit instruction:  practice, review, and deep processing. Instruction must be cumulative; teachers must integrate the terms into complex tasks and require them to be used when discussing/using text.  For an example of integrating explicit teaching of vocabulary strategies, watch this video of an 11th grade US History teacher using the close reading strategy for explicit use of academic vocabulary.

Here is another resource to provide support for vocabulary instruction, http://www.edutopia.org/blog/teaching-ccss-critical-vocabulary-marilee-sprenger 1.  Create an interactive vocabulary wall and use the words in discussions with students.2. Oral Discourse- develop a balance in student talk and teacher talk to promote meaningful language learning opportunities.  3. Vocabulary Journals - Students can revisit and add to their entries as their understandings develop 4. Concept Sort - identify the key vocabulary terms of an overarching concept or topic 5. Provide a student-friendly definition of the word and students suggest synonyms or antonyms for the word. 7. Use the new word on multiple occasions and in multiple contexts (e.g., sentence starters, games, student writing). 8. Use the new words in context of the lesson.

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Social Studies Framework Quarter 1/Quarter 3 Economics

WIDA Examples for EconomicsModified tasks

WIDA English Language Development (ELD) standards and example Model Performance Indicator (MPI) strands appear within this document to provide teachers with appropriate scaffolding examples for ELLs and struggling readers. Strands of MPIs related to the domain of Reading are provided and linked to the corresponding set of CCR standards. By referencing the provided MPIs and those MPIs within the given links, teachers have access to “I can” statements that are appropriately leveled for ELLs (and struggling readers) in their classrooms. Additionally, MPIs can be referenced for designing new and/or modifying existing assessments.

WIDAhttps://www.wida.us/standards/ELP_standardlookup.aspx

Below is a sample of modifications provided on the WIDA site, feel free to search WIDA for other examples.

Example: 9-12Supply and DemandEntering:Identify resources or products in supply or demand on maps or graphs from oral statements.

Beginning:Indicate availability of resources or products in graphs or maps from oral statements.

Developing:Compare resources or products in supply or demand from maps or graphs and oral statements.

Expanding:Analyze oral scenarios related to resources or products in supply or demand from maps or graphs.

Bridging:Interpret cause and effect of resources or products in supply or demand from oral discourse.

Example: 9-12Global EconomyEntering:Identify products related to economic trends of regions or countries from oral statements, maps and charts (e.g., Oil is part of the world's economy. Find countries with oil.)

Beginning:Match regions or countries with similar economic trends from oral descriptions, maps and charts.

Developing:Find examples of regions or countries that have similar economic trends from descriptive oral scenarios, maps and charts.

Expanding:Compare/contrast the economic trends of regions or countries from oral discourse, maps and charts.

Bridging:Evaluate impact of economic trends on regions or countries from oral reading of grade level material.

If hyperlinks in this document are not active due to digital translation issues, the user should copy and paste the link into the address bar of a web browser such as Google Chrome or Mozilla Firefox.

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Social Studies Framework Quarter 1/Quarter 3 Economics

Economics Pacing Guide

Suggested Time Quarter 1/ Quarter3 Suggested Time Quarter 2 / Quarter 4Weeks 1-3.5 Scarcity and Economic Reasoning

Big Ideas: Productive Resources are Limited, so we must make choices, trade-offs and incur opportunity costs.

Weeks 1-2 The Role of GovernmentBig Ideas: Resolving market failures through provision of public goods/services, redistribution of income, and protection of rights.

Weeks 3.5-7 Supply and DemandBig Ideas: The role of supply, demand, prices and profits in determining production.

Weeks 3-5.5 National Economic PerformanceBig Ideas: The means by which economic performance are measured.

Weeks 8-9 Market StructuresBig Ideas: Various market structures and the organization of business firms.

Weeks 5.5-7 Money and the Role of Financial InstitutionsBig Ideas: The origin, role, and functions of money and financial institutions in a market economy

Week 9 Review Weeks 8-9 TradeBig Ideas: Free Trade or Not? What are the costs of economic development?

* Please note that these timeframes are suggested/estimated times. Actual class instruction may vary due to schedule complications, remediation efforts or other factors

Scarcity and Economic Reasoning

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Social Studies Framework Quarter 1/Quarter 3 Economics

Weeks 1-3.5Textbook/Anchor Text: Prentice Hall ECONOMICS (1340L)TN State Recommendation: The United States Constitution Achieve The Core:The Gospel of Wealthhttp://achievethecore.org/page/37/the-gospel-of-wealth-by-andrew-carnegie

TN State Social Studies Standards Big Ideas, Guiding Questions &Vocabulary Suggested DBQ/TBQs, Activities, & ResourcesE.1 Define each of the productive resources (natural, human, capital) and explain why they are necessary for the production of goods and services.

E.2 Explain how consumers and producers

BIG IDEA: Productive Resources are limited, so we must make choices, trade-offs and incur opportunity costs.

E.1 How can we make the best economic choices? E.1 Student should be to explain why scarcity and choice are the basis of economics.Content Vocabulary (Tier 3): Scarcity, economics, entrepreneur, factors of production, capital, physical capital, human capitalAcademic Vocabulary (Tier 2):need, want, goods, services, land, laborSee pg. 5 for Vocabulary Instructions

E.2 How does scarcity force people to make economic choices? How does opportunity cost

Chapter 1 What is Economics? Section Readings and Assessments pp. 2-21

E.1 Have groups read and define Chapter 1 What is Economics section 1 and the complete the chart on page 3 as they read. In an essay, have students define and give examples of each of the productive resources (natural, human, capital) and explain why they are necessary for the production of goods and services. Graphic organizers can be used as a scaffolding technique leading up to essay writing.Literacy RH.11-12.1, 3,4; WHST.11-12.1.D

Use the Achieve The Core LessonPrimary Source “The Gospel of Wealth” by Andrew CarnegieThis is a Close Read:

1. Read the text aloud.2. Read the text again stopping to note the vocabulary and or

important points3. Reread this text very closely over several days to

uncover additional meaning.http://achievethecore.org/page/37/the-gospel-of-wealth-by-andrew-carnegieDBQs: What is the “Age” Carnegies is talking about?What does the text say is a “Harmonious Relationship”?What does Carnegie mean by the “administration of wealth”?What are Carnegie’s important point?Note to the Teacher: These readings and questions should be used to point out to students that complex text is often dense in information and ideas, and that is one reason why it requires multiple, careful readings.

Literacy WHST.11-12.2,4,6; RH.11-12.1,2,67

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Social Studies Framework Quarter 1/Quarter 3 Economics

confront the condition of scarcity, by making choices that involve opportunity costs and tradeoffs.

affect decision-making?Why does every decision involve a tradeoff?How is opportunity cost determined?

What is opportunity cost and why is it important to understand?

Upon reading this article and students should be lead to articulate, the definitions contained therein. The following defines Opportunity Costs and tradeoffs.“To get the most out of life, to think like an economist, you have to be know what you're giving up in order to get something else." Russell Robertshttp://www.econlib.org/library/Columns/y2007/Robertsopportunitycost.htmlLiteracy RH.11-12.4,5

Content Vocabulary (Tier 3): Consumers, producers, scarcity, opportunity costs, tradeoffsAcademic Vocabulary (Tier 2):See pg. 5 for Vocabulary Strategies

E.1 Have students partner-up to create and present a visual aids (poster, PowerPoint, slideshow, video etc.) that define productive resources, providing examples to identify the specific resources needed in creating a particular good or service. Students will then explain if the product is sustainable.Literacy SL.11-12.5; WHST.11-12.2; RH.11-12.6

Have students read the following online articles noting terms and significant points. (terms: Scarcity, costs and trade-offs)Online Articles: New Factors of Production

http://www.forbes.com/sites/ciocentral/2011/10/31/the-new-factors-of-production-and-the-rise-of-data-driven-applications/#78668c817881

http://www.theusaonline.com/economy/production.htm http://www.kidseconposters.com/posters/the-basics/productive-resources/ Literacy RH.11.12.1,4,5

E.2 Students will integrate and evaluate multiple sources of information and compose an essay that explains how consumers and producers confront the condition of scarcity, by making choices that involve opportunity costs and tradeoffs. Use:Text pg. 9http://www.econlib.org/library/Enc/OpportunityCost.html andhttp://www.econlib.org/library/Columns/y2007/Robertsopportunitycost.htmlLiteracy RH.11-12.1,4; WHST.11-12.1.D

E.2 In groups, have students collaborate and discuss how consumers and producers confront the condition of scarcity. A goal is to show how scarcity forces people to make economic choices.Text pp. 3-7 and p. 512Literacy SL.11-12.1.A,C,D; RH.11-12.1,2,4,6

More DBQ ARTICE TO CONSIDER8

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Social Studies Framework Quarter 1/Quarter 3 Economics

http://www.econlib.org/library/Columns/y2012/Bradleyresourceship.html

Video: Out of Resources? https://www.youtube.com/watch?v=AcWkN4ngR2YVideo: Opportunity Costs https://www.youtube.com/watch?v=1nlIiDmKD9k

E.3 Identify and explain the broad goals of economic policy such as freedom, efficiency, equity security, growth, price stability, and full employment.

E.3 What are the key questions that all societies answer? What are the characteristic of a tradition economy? Content Vocabulary (Tier 3): Economic system, profit, safety net, standard of living, innovation, traditional economy, equityAcademic Vocabulary (Tier 2):Security, growth, price, stability, employmentSee pg. 5 for Vocabulary Strategies

E.3Write an essay that thoroughly identifies, defines, and explains the broad goals of economic policy such as freedom, efficiency, equity, security, growth, price stability, and full employment. Students should use the vocabulary words in their essay.Use text pp.49-50, 23, 52-53Literacy RH.11-12.3,4,6, WHST.11-12.1.D

Students will present a speech, as if running for a political office, voicing the economic policies they would adopt with the focus of identifying the broad goals of economic policies, but narrowing it down to 3 main goals and explaining their importance for a thriving society. This task be a speech or a debate that challenges the importance of each goal.

Literacy SL.11-12.2,4,6; RH.11-12.1,3,4,6

Textbook: Chapter 2 pp. 23-28 The Goal of U.S. Economic Policy Shiftedhttp://www.epi.org/press/ignoring-dream-goal-economic-policy-shifted/

Video: Out of Resources? https://www.youtube.com/watch?v=AcWkN4ngR2YHandout for Group Activity https://www.fte.org/wp-content/uploads/HandoutGoalsEconomicPolicy1.pdf

Literacy WHST.11-12.2; RH.11-12.6

E.4 Describe how people respond predictably to positive and negative incentives.

GUIDING QUESTIONS: What are incentives and how do people respond predictably to them?

E.4Students will read the text and write a summary that identifies the central idea and thoroughly define incentives and explains how people respond predictably to them,

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Social Studies Framework Quarter 1/Quarter 3 Economics

Content Vocabulary (Tier 3): specialization, free market economy, factor market, product market, self-interestAcademic Vocabulary (Tier 2):incentive, competition, firm, marketSee pg. 5 for Vocabulary Strategies

while citing specific textual evidence.Achieve The Core unit (Includes TDQs)http://achievethecore.org/search?q=positive+and+negative+incentivesLiteracy RH. 11-12.1 / RH.11-12.2

Students will work with peers to promote discussions, set clear goals and establish individual roles as they complete the Perverse Incentives handout. Students will then share their scenario, solutions, and conclusions with the class, with the focus on how people respond predictably to incentives. Literacy SL.11-12.1 / SL.11-12.1B

Textbook: Chapter 2 pp. 32-33 Literacy W.11-12.2Literacy RH.11-12.6

Incentives Matterhttp://www.econlib.org/library/Columns/y2006/Robertsincentives.htmlLiteracy RH.11-12.6

Video: Incentives Matter http://www.learnliberty.org/videos/incentives-matter/Lesson Plan http://www.fte.org/teacher-resources/lesson-plans/edsulessons/lesson-3-incentives-matter/

E.5 Explain that voluntary exchange occurs when all participating parties expect to gain.

E.5 Why is voluntary change significant?

Content Vocabulary (Tier 3): Economic system, profit, safety net, standard of living, innovation, traditional economy, equityAcademic Vocabulary (Tier 2):Security, growth, price, stability, employmentSee page 5 for Vocabulary Strategies

E.5 Using the vocabulary words to the left, write an explanation of how voluntary exchange occurs. The explanation should speak to what all participating parties expect to gain.

Textbook: Chapter 3 p. 51

Unequal Voluntary Exchangehttp://www.econlib.org/library/Columns/y2004/Jasaysocialism.html

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Social Studies Framework Quarter 1/Quarter 3 Economics

Video/Interactive Quiz: http://www.econedlink.org/interactives/EconEdLink-interactive-tool-player.php?iid=196Literacy WHST.11-12.2; RH.11-12.6

E.6 Compare and contrast how various economic systems (traditional, market, command, mixed) try to answer the questions: What to produce? How to produce? For whom to produce?

E.6 How do the various economic systems make decisions about production and who gets it?

Content Vocabulary (Tier 3): Economic systemAcademic Vocabulary (Tier 2):Produce, traditional, market, command, mixedSee page 5 for Vocabulary Strategies

E.6Write a compare and contrast paper that identifies the various economic systems and explores how each (traditional, market, command, mixed) try to answer the questions: What to produce? How to produce it? For whom to produce?

Textbook: Chapter 2 p. 23-47 and pg. 109, 116-122

Lesson Plan http://civics.sites.unc.edu/files/2012/05/ComparingEconomicSystems10.pdfPowerPoint www.usd218.org/pages/uploaded_files/Comparing%20 Economies .ppt

Literacy RH. 11-12.1,2,6

E.7 Describe how clearly defined and enforced property rights are essential to a market economy.

E.7 How are clearly defined and enforced property rights essential to a market economy?

Content Vocabulary (Tier 3): market economy, property rightsAcademic Vocabulary (Tier 2):essentialSee page 5 for Vocabulary Strategies

E.7Students will create a presentation that describes how clearly enforced property rights, both physical and intellectual, are essential to a market economy. Presentation should consider both sides and include benefits and consequences of enforced property rights as well as predict what the economy would look like if property rights were not clearly defined or enforced.

Textbook: Chapter 3 p. 51-52, pg. 61

Property Rights Key to Economic Developmenthttps://www.libertarianism.org/publications/essays/property-rights-key-economic-development

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Social Studies Framework Quarter 1/Quarter 3 Economics

Video: Intellectual Property Rights Protection https://www.youtube.com/watch?v=BmyQ_gYAdD4 Literacy RI.11-12.1,.3; SL.11-12.2,4

E.8 Use a production possibilities curve to explain the concepts of choice, scarcity, opportunity cost, tradeoffs, unemployment, productivity, and growth.

E.8 How is a production possibilities curve used and what concepts can it explain?

Content Vocabulary (Tier 3): Production possibility curve, scarcity, opportunity cost, tradeoffs, productivityAcademic Vocabulary (Tier 2):Unemployment, concepts, choice, growthSee page 5 for Vocabulary Strategies

E.8Students will write an explanatory piece after further researching the topic of production possibilities frontier. Students will illustrate, analyze and identify how the production possibilities curve illustrates the concepts of choice, scarcity, tradeoffs, unemployment, productivity and growth.Textbook: Chapter 1 pp. 13-18, Chapter 13 pp. 335-341, pp. 451-452

Production Possibilities Curve Explained https://www.youtube.com/watch?v=O6XL__2CDPU Literacy RH.11-12.1,7,9; WHST.11-12.6,7

E. 9 Compare and contrast the theoretical principles of the economic systems of capitalism, socialism, and communism and use historical examples to provide evidence of their effectiveness.

E.9 What are the theoretical principles of the economic systems of capitalism, socialism, and communism?

Content Vocabulary (Tier 3): Capitalism, socialism, communism, economic systemsAcademic Vocabulary (Tier 2):effectivenessSee page 5 for Vocabulary Strategies

E.9 Students will compare and contrast the principles of capitalism, socialism and communism using historical examples to provide evidence of their effectiveness through research.

In groups, students will initiate and participate effectively in a collaborative discussion in which they have prepared and read material, explicitly draw on that preparation by referencing evidence from texts, respond to and synthesize comments made by on all sides with the focus on discussing their group’s assigned economic system and its principles, successes and shortcomings. Use:Textbook: Chapter 2 pp.36-37 and Chapter 3 pp. 49-75

Explanation: http://www.ushistory.org/gov/13b.aspVideo: https://www.youtube.com/watch?v=B3u4EFTwprM

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Social Studies Framework Quarter 1/Quarter 3 Economics

Capitalism, Socialism, Communismhttp://www.huffingtonpost.com/henryk-a-kowalczyk/capitalism-socialism-and-_b_8523486.htmlLiteracy RH.11-12.6,10; Literacy WHST.11-12.2; SL.11-12.1.A,C,D

E. 10 Examine informational text and primary sources to analyze the major ideas of the following economists:

Adam Smith Thomas Malthus Karl Marx John Maynard Keynes Friedrich Hayek Milton Friedman

E.10 What are the major ideas of some famous economists? How have the ideas of some famous economists help shape economic thoughts?

Adam Smith Thomas Malthus Karl Marx John Maynard Keynes Friedrich Hayek Milton Friedman

Content Vocabulary (Tier 3): Economist, self-interest, invisible hand,Academic Vocabulary (Tier 2):Buyer, seller, personal gainSee page 5 for Vocabulary Strategies

E.10To prepare for participation in a debate on fiscal and/or monetary policies, students will read and analyze texts as well as answer text dependent questions about different economists. For ex:

What were the major ideas of the economist? How did the economist’s ideas shape today’s economy? Although all of the economists had an impact on the economy, which

economist made the greatest contribution to the economy? Use evidence from the texts to justify your opinion.

Adam Smith http://www.econlib.org/library/Enc/bios/Smith.htmlThomas Malthushttp://www.econlib.org/library/Enc/bios/Malthus.htmlKarl Marxhttp://www.econlib.org/library/Enc/bios/Marx.htmlJohn Maynard Keyneshttp://www.econlib.org/library/Enc/bios/Keynes.htmlFriedrich Hayekhttp://www.econlib.org/library/Enc/bios/Hayek.html

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Social Studies Framework Quarter 1/Quarter 3 Economics

A. Smith Text Pp.33, 36,39,47.154,399; K. Marx pp. 36, 47; T. Malthus pg. 399; J. Keynes pp. 321,400, 401; M. Friedman pp.26, 406, 407 and 436.

Milton Friedmanhttp://www.econlib.org/library/Enc/bios/Friedman.htmlBen Bernankehttp://www.britannica.com/biography/Ben-Bernanke

Students will participate in a debate on fiscal and/or monetary policies and give input and suggestions as if there were a famous economist. Students will use the information gathered from their reading of the various economists to support their debating points during the group debate with special attention to the vocabulary words.

Literacy RH.11-12.1,2,4,5,9; SL.11-12.5,1B

Supply and Demand(Weeks 3.5-7)

Textbook/Anchor Texts: Prentice-Hall: ECONOMICSTN State Recommendations: NAAdditional Readings: Economic Close Reads and Lesson Plans:http://www.econedlink.org/lessons/economic-lesson-search.php?type=educator&gid=4Productive Resources http://www.econedlink.org/interactives/index.php?iid=191&type=studentEconomic Institutionshttp://www.whatiseconomics.org/what-is-economics/economic-institutionsFree Enterprise Education Acthttp://www.alec.org/model-legislation/free-enterprise-education-act/

TN State Social Studies Standards Big Ideas, Guiding Questions &Vocabulary Suggested TDQs, Activities & ResourcesE.11 Define supply and demand, and provide relevant examples.

Big Ideas: Saving and investment choices affect your future.

E.11 What is difference between supply and demand and why is it important?How can you illustrate the law of supply and

E. 11 Have students to summarize the text and provide relevant examples of both supply and demand. Students should also be able to illustrate and explain how the supply and demand curves illustrate the law of supply and demand graphically.

Task:Students will read the article Hard Times, More Chip s . Students will then answer

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Social Studies Framework Quarter 1/Quarter 3 Economics

demand be graphically?

Content Vocabulary (Tier 3): Demand, law of demand, substitution effect, demand schedule, market demand schedule, demand curve, law of supply, quantity supplied, supply schedule, variable, market supply schedule, supply curve, market supply curve, elasticity of supply, marginal product of labor, increasing marginal returns, diminishing marginal returns, fixed cost, variable cost, total cost, marginal cost, marginal revenue, average cost, operating cost, subsidy, excise tax

Academic Vocabulary (Tier 2):entry, production, supply, supplier, wages, shortages, sum, output, expectations, regulation, income, reduction, goods, population, demographics, advertising, consumers, calculating, value, availability, policy(For Vocabulary Strategies see page 5)

text dependent questions and respond to a writing prompt.

According to the article, why don't manufacturers keep package sizes the same and cut prices when the economy is weak?

What would be an alternate title for this article? Using evidence from the text, what is an antonym for the word prosperity? Using to the article, describe the difference between the packages sold

when the economy is weak and the packages sold when the economy is strong.

Explain how the economy in 2009 affected the size of chip bags. How did the cost of ingredients affect the bag size, and how might the bigger bag have affected demand for the product? Support your response with information from the text.

Literacy RH.11-12.1,4; WHST.11-12.1.DE.11 In groups, have students create and present a visual aid (poster, PowerPoint, slideshow, video etc.) that defines supply and demand and provides examples of each and how they interdependent.Literacy SL.11-12.5

E. 11Chapter 4 and 5 pg. 85-90 and 109-111 Literacy W.11-12.2Literacy RH.11-12.6

E. 11 Video: https://www.youtube.com/watch?v=g9aDizJpd_s

E.12 Describe the role of buyers and sellers in determining the equilibrium price.

E.13 Describe how prices of products as well as interest rate and wage rates send signals to buyers and sellers of products, loanable funds, and labor.

E.14 Explain that consumers ultimately determine what is produced in a market economy (consumer sovereignty).

E.12 – 14 What roles do suppliers and consumers play in a market economy and in determining equilibrium price?

E.15 Why do entrepreneurs accept the risks of

E.12-15After reading, have students summarize the text, and describe the role buyers and sellers play in determining prices and production. Students should explain that ultimately consumers determine what is produced in the market place.Text pp. 141-147

Literacy WHST.11-12.1.D

After reading, students will answer teacher generated document based questions on the risks entrepreneurs face.http://www.ipedr.com/vol25/15-ICEME2011-N00024.pdf

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Social Studies Framework Quarter 1/Quarter 3 Economics

E.15 Explain the function of profit in a market economy as an incentive for entrepreneurs to accept the risks of business failure.

E.16 Demonstrate how supply and demand determine equilibrium price and quantity in the product, resource, and financial markets, including drawing and reading supply and demand curves.

E.17 Identify factors that cause changes in market supply and demand.

E.18 Demonstrate how changes in supply and demand influence equilibrium price and quantity in the product, resource, and financial markets.

E.19 Demonstrate how government wage and price controls, such as rent controls and minimum wage laws, create shortages and surpluses

business failure and what is their incentive.

E.16 – E.18 What factors cause changes to supply and demand curves? How can you illustrate changes in supply and demand and its effect on price, quantity, interest rates and wages?

E. 19 How does government control: prices, rent, minimum wage, shortages and surplus?

Read the whole text, one chunk at a time.As you read, mark parts of the text that:

Help you understand more about the source and context of this piece.

For each chunk of the text, circle words you do not know. Use context clues and word parts to try to figure out what those words means, and write your ideas in the margin next to the word.

For each chunk, try to figure out what the gist of this chunk is: What is the text about? What is it saying? Write your ideas in the margins next to each chunk. From Achieve The Core: A Young People’s View of the United States

E.16-18Students should be assigned various supply and demand scenarios. As a group, students should evaluate the scenarios, interpret and manipulate supply and demand charts to determine the overall effects, whether changes in quantity, prices, interest rates, and wages in various. Groups should present their information and findings orally with graphs to aid their presentation. Literacy SL.11-12.5

Chapters 4-6 p. 85-157

Coffee Demand Growing, Pushing Prices Higherhttp://fortune.com/2016/07/01/americans-coffee-prices/ Supply and Demand in Labor Markets http://www.econoclass.com/economicsoflabormarkets.htmlVideo: https://www.youtube.com/watch?v=g9aDizJpd_s

Literacy RH.11-12.1,2,4,6

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Social Studies Framework Quarter 1/Quarter 3 Economics

E. 20 Cite evidence from appropriate informational texts to argue in an opinion piece for or against the minimum wage.

E.21 Use concepts of price elasticity of demand and supply to explain and predict changes in quantity as prices fluctuate.

E. 20 Should the government be responsible in setting a minimum wage?

E. 21 How does elasticity affect quantity demanded and supplied as prices fluctuate.

E.19After reading, have students summarize the text, and explain how government wage and price controls, including rent controls and minimum wage laws, create shortages and surpluses. In their summary, they may visually demonstrate this by including and explaining a graph that will support the response.Text pp. 137-139Literacy WHST.11-12.1.D

E.20 Students will write their own opinion piece article, which cites evidence from appropriate informational texts to argue for or against the minimum wage.Literacy WHST.11-12.1 / RH. 11-12.1

E.21 In groups, students will read Elasticity of Demand and Supply via the link http://faculty.winthrop.edu/stonebrakerr/book/elasticity.htm. Students will work together to complete a concept web of the main idea of the text before writing individual summaries of the text. Literacy RH.11-12.6; WHST.11-12.2

Chapter 11 pg. 277-303 Literacy W.11-12.2Literacy RH.11-12.6

New Factors of Production?http://www.forbes.com/sites/ciocentral/2011/10/31/the-new-factors-of-production-and-the-rise-of-data-driven-applications/#78668c817881Literacy RH.11-12.6

http://www.theusaonline.com/economy/production.htm http://www.kidseconposters.com/posters/the-basics/productive-resources/

Literacy RH.11-12.6

E.22 Explain how financial markets, such as the stock market, channel funds from savers to investors.

E.22 How do financial markets channel funds from savers to investors?

E.22After reading The Financial System and Financial Intermediaries using pages 278-279 of the textbook, Students will write an explanatory piece on how financial

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Social Studies Framework Quarter 1/Quarter 3 Economics

(As students engage with the tasks and activities encourage the use of words and phrases that signal transitioning, sequencing and cause and effect relationships in their writing like: “nonetheless”, “therefore”, “as a result” and “despite” to deepen their understandings and conversations.)

markets channel funds from savers to investors. Students will cite evidence from text and provide relevant examples to answer:What advantages do financial intermediates provide for savers and for investors?

Literacy WHST.11-12.1 / RH. 11-12.1

Chapter 11 pg. 277-303 Literacy W.11-12.2Literacy RH.11-12.6

After reviewing and discussing the chart Financial Intermediaries on page 279 of the textbook, students will answer the following questions:

What advantages do financial intermediaries provide for savers? What advantages do financial intermediaries provide for investors?

Students will read the article Principles and Principal on page 281 of the textbook. Students will then answer the following question:Which of the three basic approaches to the SRI cited by Paul Hilton do you think is the most effective? Use evidence from the text to support your opinion.Literacy RH.11-12.6

Market Structure(Weeks 8-9)

Textbook/Anchor Texts: Prentice-Hall: ECONOMICSTN State Recommendations: NAAdditional Readings:Economic Close Reads and Lesson Plans:http://www.econedlink.org/lessons/economic-lesson-search.php?type=educator&gid=4Graphic Organizers http://www.studenthandouts.com/Productive Resources http://www.econedlink.org/interactives/index.php?iid=191&type=studentEconomic Institutionshttp://www.whatiseconomics.org/what-is-economics/economic-institutionsFree Enterprise Education Acthttp://www.alec.org/model-legislation/free-enterprise-education-act/

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Social Studies Framework Quarter 1/Quarter 3 Economics

TN State Social Studies Standards Big Ideas, Guiding Questions &Vocabulary Suggested Activities & ResourcesE.23 Compare and contrast the following forms of business organization: sole proprietorship, partnership, and corporation.

E.23 Various market structures and the organization of business firms.

E.23 What are the forms of business organization?

Content Vocabulary (Tier 3):Perfect competition, commodity, barrier to entry, imperfect competition, start-up costs, monopoly, economies of scale, natural monopoly, patent, franchise, license, price discrimination, market power, monopolistic competition, differentiation, non-price competition, oligopoly, price war, collusion, price fixing, cartel, predatory pricing, antitrust laws, merger, deregulation

Academic Vocabulary (Tier 2):Buyers, sellers, products, entry, exit, costs, technology, output, barriers, labor, conditions, bargain, wages, benefits settlements

(For Vocabulary Strategies- see page 5)

E.23Using the link http://www.kcsourcelink.com/learning-center/starting-a-business/register-and-license-your-business/forms-of-business-organization, students will compare and contrast forms of business organization through a comparative writing piece. Literacy RH.11-12.2: WHST.11-12.1.B,2.B

E.23 Students will write and present a speech about the business organization they feel would be the best to pursue, given their chosen business idea. Students will support their opinions by citing textual evidence and examine the primary advantages and disadvantages of sole proprietorships and partnerships, LLC’s, and corporations. Literacy SL.11-12.1,1.B,7; WHST.11-12.2

Textbook: Chapter 8 pp. 191-215

Write an essay that thoroughly identifies, defines, and explains the broad goals of economic policy such as freedom, efficiency, equity, security, growth, price stability, and full employment.Literacy WHST.11-12.1.D or

Students will present a presentation on how a small chosen company may grow through various means using visual aids to support and add interest to the presentation.Literacy SL.11-12.2 / SL.11-12.4 / SL.11-12.6

Textbook: Chapter 8 pp. 202-207

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E.24 Analyze the various ways and reasons that firms grow either through reinvestment of financial capital obtained through retained earnings, stock issues and borrowing, or through horizontal, vertical, and conglomerate mergers.

E.24 How do firms grow?Content Vocabulary (Tier 3):Closely held corporation, certificate of incorporation, limited liability corporation, horizontal merger, vertical merger, conglomerate, multinational corporation Academic Vocabulary (Tier 2):Corporation, stock, bond, dividendSee p. 5 for Vocabulary Strategies

E.24 Student will analyze the various ways and reasons that firms grow through either reinvestment of financial capital obtained through retained earnings, stock issues and borrowing, or through horizontal, vertical, and conglomerate mergers.10 Ways to Grow Your Businesshttps://www.entrepreneur.com/article/70660Internal vs External Growthhttp://advantagefamily.com/content/internal-and-external-growth-of-a-business

Why Firms Grow? http://www.economicshelp.org/blog/11117/business/discuss-why-firms-grow-in-size/Growth of Firms http://www.economicsonline.co.uk/Business_economics/Growth_mergers_and_acquisitions.html

Literacy RH.11-12.1,3.6

E.25 Analyze key details and central ideas from diverse forms of informational text to summarize the role and historical impact of economic institutions, such as labor unions, multinationals, and nonprofit organizations, in market economies.

E.25 What have been the historical impacts of various economic institutions, such as labor unions, multinationals, and nonprofit organizations, in market economies? Content Vocabulary (Tier 3):Economic institutions, multinationals, nonprofit organizations, market economiesAcademic Vocabulary (Tier 2):

E.25Students will research and summarize the historical impact of labor unions, multinationals and nonprofits in market economies. Text g.226

Chapter 9 Labor Unions pg. 233-242; Chapter 8 Multinationals pg. 207Chapter 8 Nonprofits pg. 208-212Literacy RH.11-12.7,9

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Social Studies Framework Quarter 1/Quarter 3 Economics

Diverse, impact, historicalSee p. 5 for Vocabulary Strategies Brief History of Transnational/Multinational Corporations

https://www.globalpolicy.org/empire/47068-a-brief-history-of-transnational-corporations.html Literacy RH.11-12.6

Growth of Firms http://www.economicsonline.co.uk/Business_economics/Growth_mergers_and_acquisitions.htmlVideo: The Haymarket Square Riot; Cesar Chavez Fast Factshttp://www.history.com/topics/labor/videos

E.26 Identify the basic characteristics of monopoly, oligopoly, monopolistic competition, and pure competition.

E.26 What are the basic characteristics of monopoly, oligopoly, monopolistic competition, and pure competition? How does competition work in each case?Content Vocabulary (Tier 3):Monopoly, oligopoly, monopolistic competition, pure competitionAcademic Vocabulary (Tier 2):competitionSee p. 5 for Vocabulary Strategies

E.26 Students will research and summarize the historical impact of labor unions, multinationals and nonprofits in market economies. Text pg. 226) Literacy RH.11-12.7,9

Chapter 9 Labor Unions pp. 233-242; Chapter 8 Multinationals pg. 207

History of Transnational/Multinational Corporationshttps://www.globalpolicy.org/empire/47068-a-brief-history-of-transnational-corporations.html Literacy RH.11-12.6

E.27 Explain how competition among many sellers lowers costs and prices and encourages producers to produce more.

E.27 How does competition among many sellers’ lower prices?Content Vocabulary (Tier 3):Perfect competition, commodity, barrier to entry, imperfect competition, start-up costAcademic Vocabulary (Tier 2):Costs, prices, producersSee page 5 for Vocabulary Strategies

E.27http://www.econedlink.org/lessons/projector.php?lid=383&type=educator, students will understand that competition takes place when there are many buyers and sellers of similar products, identify competing businesses in their community, understand that competition among sellers results in lower prices, higher product quality, and better customer service. Students will also explain how the opening of a second pizza shop in a small community affects prices, profits, service, and quality. Literacy RH.11-12.3

Chapter 7 pg. 159-163

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http://www.cnbc.com/2016/05/19/wal-marts-low-price-commitment-should-send-shivers-across-retail.html Literacy RH.11-12.6

E.28 Demonstrate how firms with market power can determine price and output through marginal analysis.

E.28 How can certain firms determine price and output?

E.28 Students will summarize how firms with market power can determine price and output with an understanding that all market structures have some market power except in a perfectly competitive market. (Textbook P226) Literacy RH.11-12.7,9

Chapter 7 pgs. 159-187

Big Bad Amazonhttp://www.economist.com/blogs/freeexchange/2014/10/market-powerLiteracy RH.11-12.6

http://www.unc.edu/~salemi/Econ101/16.%20Market%20Power.pdf

E.29 Explain ways that firms engage in price and non-price competition.

E.29 How might firms compete for consumers? E.29Write an essay that thoroughly explains ways that firms engage in price and non-price competition, citing specific evidence from the text and providing real world examples.Literacy WHST.11-12.1.D

Students will collaborate with their peers to identify various price and non-price competition efforts that a company may engage in to gain customers and share their responses with the class. Literacy SL.11-12.2 / SL.11-12.4 / SL.11-12.6

Textbook: Chapter 7 pp. 159-187

https://economics.csusb.edu/facultystaff/nilsson/personal/Capitalism%20Text/10-Competition.pdf

E.30 Examine informational text in diverse formats and media to analyze how investment in research and development,

E.30 How is productivity increased? E.30Students will research and summarize ways in which to increase productivity, citing textual evidence from various sources. Students will use research to prepare for

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Social Studies Framework Quarter 1/Quarter 3 Economics

equipment and technology, and training of workers increases productivity.

group activity.Literacy WHST.11-12.1.D

In groups, students will engage in a collaborative discussion with the goal of analyzing how investment in research and development, equipment and technology, and training of workers can increase productivity. Students will refer to evidence from research, clarify, verify and challenge ideas and perspectives. Literacy RH.11-12.6; WHST.11-12.2; SL.11-12.1

Pp. 226-227, pp 324-325E.31 Describe how the earnings of workers are determined by the market value of the product produced or service provided workers’ productivity, incentives, collective bargaining, and discrimination.

E.31 How are wages determined? E.31Students will research factors that determines an individual’s wages, including the value of goods and services provided worker’s productivity, incentives, collective bargaining, and discrimination (race, sex, gender, and age) and write a summary citing the text. Students will use research to prepare for group activity.Literacy WHST.11-12.1.D

In groups, students will engage in a collaborative discussion with the goal of describing how earnings of workers are determined. Students will refer to evidence from research, clarify, verify and challenge ideas and perspectives. Literacy RH.11-12.6; WHST.11-12.2; SL. 11-12.1Use:

Textbook: Chapter 9 pp 217-245

http://www.cbsnews.com/news/racial-wage-gap-is-now-the-worst-in-36-years/

http://thismatter.com/economics/wages.htm E.32 Analyze the role and productivity of entrepreneurs in a free-enterprise system and how entrepreneurial decisions are influenced by tax, regulatory, education, and research support policies.

E.32 How do tax, regulatory, education, and research support policies influence entrepreneurs?

E.31Write an analytical paper, that explores the role and productivity of entrepreneurs in a free-enterprise system and how entrepreneurial decisions are influenced by tax, regulatory, education, and research support policies. Literacy WHST.11-12.1.D,3,4

http://www.usnews.com/opinion/economic-intelligence/2014/05/12/many-

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regulations-stifle-entrepreneurs-and-small-businesses

https://business.ku.edu/sites/businessdev.drupal.ku.edu/files/images/general/Research/TR%2006-0717--Entrepreneur%20(Hall%20%26%20Sobel).pdf

Resources Economic Close Reads and Lesson Plans:http://www.econedlink.org/lessons/economic-lesson-search.php?type=educator&gid=4Graphic Organizers http://www.studenthandouts.com/Productive Resources http://www.econedlink.org/interactives/index.php?iid=191&type=studentEconomic Institutionshttp://www.whatiseconomics.org/what-is-economics/economic-institutionsFree Enterprise Education Acthttp://www.alec.org/model-legislation/free-enterprise-education-act/

These sites can be used as you develop your lesson plans!

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Reference Resources:Please register for these free sites:

Ever Fi (Economics, financial Literacy & African American History)www.everfi.com/login

Read Works (Informational Passages/Articles including Paired Texts)http://www.readworks.org/

Newsela (Informational topics)https://newsela.com/

Britannica www.school.eb.com Username: Shelby Password: county

To Log on to ImageQuestGo to: quest.eb.com Username – shelby Password - county

The World Almanac Online (for middle and high)http://online.infobaselearning.com/Direct.aspx?aid=237361&pid=WE29Access Credentials: for middle and highUsername: shelbycty-2nd Password: digital

Gilder-Lehrmanhttps://www.gilderlehrman.org/programs-exhibitions/affiliate-school-program

Teacher Tube (Uses your SCS Log-in)These sites can be used as you develop your lesson plans!

www.eduToolbox.org