Boise Schools Curriculum

Unit 1

Introduction to Economics

3 Weeks

Instructional Objective 1341.01 Define scarcity and explain its implications in decision-making.			Standard Reference 510.01a
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Define economics and explain its relation to the concept of scarcity.	Ch. 1		EOC TMA
02	Explain how scarcity forces choices by individuals and society.	Ch. 1		EOC TMA
03	Identify the factors of production and explain how the limited availability of these resources impacts choices.	Ch. 1		TMA
04	Define opportunity cost and apply it to individual and social decision making.	Ch. 1, 2		EOC TMA
05	Define marginal thinking and cite examples for individuals and businesses.	Ch. 2		EOC TMA
06	Illustrate opportunity cost with a production possibilities graph.	Ch. 3		EOC TMA
Instructional Objective 1341.02 Identify the incentives that determine what is produced and distributed in a competitive market system.			Standard Reference 501.01d
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Explain how the market system allocates scarce resources through market prices.	Ch. 2, Supplement		TMA
02	Predict how incentives influence economic decision making	Ch. 2		EOC TMA
Instructional Objective 1341.03 Compare and contrast free market and command economies of various nations and eras.			Standard Reference 510.01f
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Evaluate alternative models for the allocation of resources and finished products by comparing the costs and benefits of each model with emphasis on the characteristics of a market economy.	Ch. 3, Supplement		EOC TMA
02	Compare the economic system of the United States today with past eras and with the economic systems of other nations.	Ch. 3, Supplement		EOC TMA
03	Explain how economic systems serve as a means of achieving economic goals.	Ch. 17		EOC TMA
Instructional Objective 1341.04 Explain the impact of culture, values and belief systems on economic systems.			Standard Reference 512.01a
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Cite specific examples of how culture influences economic decision making.	Ch. 3		EOC TMA
02	Provide evidence of how technology influences cultural and economic systems.	Supplement		EOC TMA

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Unit 2	Microeconomics	6 Weeks

Instructional Objective 1341.05 Know ways in which the interaction of all buyers and sellers influence prices.			Standard Reference 501.01b
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Define demand and the law of demand.	Ch. 4		EOC TMA
02	Construct a demand schedule and demand curve for a product.	Ch. 4		EOC TMA
03	List and explain the factors that cause demand to change and graph those changes.	Ch. 4		EOC TMA
04	Define supply and the law of supply.	Ch. 4		EOC TMA
05	Construct a supply schedule and supply curve for a product.	Ch. 4		EOC TMA
06	List and explain the factors that cause supply to change and graph those changes.	Ch. 4		EOC TMA
07	Graphically illustrate how changes in supply and demand influence the equilibrium price and quantity of a product.	Ch. 4		EOC TMA
08	Define price elasticity of demand and supply and list its determinants.	Ch. 4		EOC TMA
09	Predict the impact of government intervention on the market.	Ch. 4, 7		EOC TMA
Instructional Objective 1341.06 Explain and illustrate environmental and geographical impacts on economic policies and decisions made by federal, state, regional, and local officials.			Standard Reference 512.01b
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Describe how geography and environment influence production decisions.	Ch. 16, Supplement		EOC TMA
02	List examples of governmental actions in response to externalities.	Ch. 7, 16		EOC TMA
Instructional Objective 1341.07 Know the characteristics of various types of business structures.			Standard Reference 513.01a
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Compare the strengths and weaknesses of proprietorships, partnerships and corporations.	Ch. 13		EOC TMA
02	Compare the characteristics of pure competition, monopolistic competition, oligopolies and monopolies.	Ch. 9-12		EOC TMA
Instructional Objective 1341.08 Identify the business characteristics of an entrepreneur.			Standard Reference 513.01b
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Create a list of entrepreneurial incentives.	Ch. 8, 13		EOC TMA
02	Cite examples of economic growth created by entrepreneurial activity.	Special features Supplement		EOC TMA
Instructional Objective 1341.09 Identify the role of the stock market.			Standard Reference 513.01c
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Summarize how issuing stock creates financial capital for corporations.	Ch. 13, Supplement		EOC TMA
02	Evaluate stocks and bonds as investment options.	Ch. 13, Supplement		EOC TMA
Instructional Objective 1341.10 Explain the purposes of labor unions.			Standard Reference 513.01e
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Summarize the issues that led to the formation and continuance of labor unions.	Ch. 14		EOC TMA
02	Critique collective bargaining.	Ch. 14		EOC TMA

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Unit 3	Macroeconomics	6 Weeks

Instructional Objective 1341.11 Describe and illustrate the impact of governmental policies and decisions on macroeconomic performance.			Standard Reference 512.01c
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Define gross domestic product, consumer price index, and unemployment rate.	Ch. 17, 18		EOC TMA
02	Explain the effects on real GDP versus the price level resulting from changes in Aggregate Supply and Aggregate Demand.	Ch. 17, 18		EOC TMA
03	Define fiscal policy and predict the potential economic consequences of increasing or decreasing government taxing and spending.	Ch. 22		EOC TMA
01	Differentiate between, and give examples of taxes.	Ch. 7		EOC TMA
Instructional Objective 1341.12 Analyze the role of money as a medium of exchange.			Standard Reference 511.01a
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Describe the three functions of money in an economy with specialization and the division of labor.	Ch. 23		EOC TMA
Instructional Objective 1341.13 Explain how money derives its value.			Standard Reference 511.01b
No.	Performance Objective	Resource Reference		Assessment Correlation
01	List the characteristics of money.	Ch. 23		EOC TMA
02	Determine the effects of inflation and deflation on purchasing power, standard of living, and allocation of resources.	Ch. 17, 25		EOC TMA
Instructional Objective 1341.14 Explain the role of banking institutions.			Standard Reference 513.01d
No.	Performance Objective	Resource Reference		Assessment Correlation
01	List and evaluate different types of bank services.	Ch. 23		TMA
02	Describe the functions of the Federal Reserve system.	Ch. 24		EOC TMA
03	Propose monetary policies in reaction to macroeconomic fluctuations.	Ch. 23, 24		EOC TMA
04	Predict the economic consequences of changes in monetary policy.	Ch. 24		EOC TMA
Instructional Objective 1341.15 Describe the concept of interest and explain how interest rates are determined.			Standard Reference 510.01e
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Calculate interest payments.	Supplement		EOC TMA
02	Calculate interest earnings.	Supplement		EOC TMA
03	List the factors that influence interest rates.	Ch. 24		EOC TMA
04	Describe how interest rates act as incentives for economic activity.	Ch. 17, 24		EOC TMA
Instructional Objective 1341.16 Define credit and debt and explain their effects.			Standard Reference 510.01c
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Explore the costs and benefits of borrowing money at a governmental, business, and personal level.	Ch. 22, Supplement		EOC TMA
Instructional Objective 1341.17 Apply economic concepts to explain the role of imports and exports both nationally and internationally.			Standard Reference 510.01g
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Explain how comparative advantage and specialization lead to mutually beneficial trade.	Ch.26		EOC TMA
02	Evaluate arguments concerning free trade.	Ch. 26		EOC TMA
03	Identify restrictions on trade and agreements to freer trade; and the impacts of these.	Ch. 26		EOC TMA

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Unit 4	Personal Finance	3 Weeks

Instructional Objective 1341.18 Examine and apply the elements of responsible personal fiscal management.			Standard Reference 514.01a
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Create a personal budget given an income constraint.	Supplement		EOC TMA
02	Balance and reconcile bank statements.			EOC TMA
03	Read and complete a credit agreement.	Supplement		EOC TMA
04	Calculate the cost of a product when using credit.	Supplement		EOC TMA
05	Differentiate between liabilities and assets.	Supplement		EOC TMA
06	Evaluate investment options.	Ch. 13 Supplement		EOC TMA
Instructional Objective 1341.19 Identify and evaluate sources and examples of consumers' responsibilities and rights.			Standard Reference 514.01b
No.	Performance Objective	Resource Reference		Assessment Correlation
01	List obligations and rights found in a contract.	Supplement		EOC TMA
02	List consumer rights and protection laws in Idaho.	Supplement		EOC TMA
Instructional Objective 1341.20 Define the concept of taxation as applied to personal finances.			Standard Reference 514.01c
No.	Performance Objective	Resource Reference		Assessment Correlation
01	Demonstrate the ability to select and complete appropriate tax forms.	Supplement		EOC TMA
02	Explain the impact of taxes on personal budgets.	Supplement		EOC TMA

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