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Content/Materia
ls
COURSE: Economics
Academic Vocabulaty
Assessments
Block
Common Core
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from engage
New York
Topic(s)/
Essential Question(s)
Content/Materia
ls
Academic Vocabulaty
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Planet Money: Lebron James is Underpaid.
An introduction to economic choices
Chapter 1 – How can we make the best
economic choices?
Chapter 1
12.E1a
12.E2a
12.E2b
12.E2c
12.E1a
12.E1b
12.E2a
12.E2b
12.E2a
Chapter 2
1A
12.E2a
12.E2b
12.E2c
12.E3c
Chapter 3
12.E4a
12.E3a-e
How does scarcity force people to male economic
choices?
How does opportunity cost affect decision making?
How does a nation decide what and how much to
produce?
Chapter 1
Chapter 1
Chapter 2
Chapter 3
Commentary:
reflection on major
issues in the article
Section assessments,
chapter review
Chapter test comes
from bank with above
types of problems
Chapter 2 – How does a society decide who
gets what goods and services?
What goals and values affect how a society answers
the key economic questions?
What are the characteristics of a free market
economy?
What are the characteristics of a centrally planned
economy?
What are the characteristics of a mixed economy?
Chapter 3 – What role should government
play in a free market economy?
Need, want, goods, services, scarcity,
economics, shortage, entrepreneur, factors
of production, land, labor, capital, physical
capital, human capital, trade-offs, guns or
butter, opportunity cost, thinking at the
margin, cost/benefit analysis, marginal
cost, marginal benefit, production
possibilities curve, production possibilities
frontier, efficiency, underutilization, law of
increasing costs
Chapter 2
Market, specialization, free market
economy, factor market, product market,
self-interest, incentive, competition,
invisible hand, consumer sovereignty,
laissez-faire, private property, mixed
economy, economic transition,
privatization, free enterprise system.
Centrally planned economy, command
economy, socialism, communism,
authoritarian.
Chapter 3
What are the benefits of free enterprise?
How does the US government encourage growth and
stability?
Why does a society provide public goods?
How does government help the poor?
Essay: Is free-enterprise
necessarily the best?
H
Planet Money:
North Korea’s
Illegal Economy:
Role of
Governments in
Economy
Profit motive, open opportunity, legal
equality, private property rights, free
contract, voluntary exchange, interest
group, eminent domain, public interest,
public disclosure laws, macroeconomics,
microeconomics, gross domestic product,
business cycle, referendum, obsolescence,
patent, copyright, work ethic, public good,
public sector, private sector, infrastructure,
free rider, market failure, externality,
poverty threshold, welfare, cash transfers,
in-kind benefits, grant
Block
Common Core
Standard(s)
from engage
New York
Topic(s)/
Essential Question(s)
Chapter 4 – What is the law of demand?
Chapter 4
12.E.2a
12.E2b
12.E2c
Chapter 5
1B
12.E2a
12.E2b
12.E2c
Chapter 6
12.E.2a
12.E2b
12.E2c
How does the law of demand affect the quantity
demanded?
Why does the demand curve shift?
What factors affect elasticity of demand?
Chapter 5 – What is the law of supply?
How does the law of supply affect the quantity
supplied?
How can a producer maximize profits?
Why does the supply curve shift?
Chapter 6 – What is the right price?
What factors affect prices?
What is equilibrium?
How do changes in supply and demand affect
equilibrium?
What roles do prices play in a free market?
Content/Materia
ls
Chapter 4
Chapter 5
Chapter 6
The Atlantic: Why
are College
Textbooks so
Absurdly
Expensive?
Academic Vocabulaty
Assessments
Chapter 4
Section assessments,
chapter review
Chapter test comes
from bank with above
types of problems
Demand, law of demand, substitution
effect, income effect, demand schedule,
market demand schedule, demand curve,
ceteris paribus, normal good, inferior good,
demographics, complements, substitutes,
elasticity of demand, inelastic, elastic,
unitary elastic, total revenue
Chapter 5
Supply, 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,
regulation
Chapter 6
Equilibrium, disequilibrium, shortage,
surplus, price ceiling, rent control, price
floor, minimum wage, inventory, fad,
search costs, supply shock, rationing, black
market
Block
Common Core
Standard(s)
from engage
New York
Topic(s)/
Essential Question(s)
Chapter 7 – How does competition affect
your choices?
Chapter 7
12.E3c
12.E3d
Chapter 8
12.E3c
12.E3d
Chapter 9
1C
12.E2c
12.E3a
12.E3b
12.E3c
12.E3d
12.E3e
What are the characteristics of perfect competition?
What are the characteristics of a monopoly?
What are the characteristics of monopolistic
competition and oligopoly?
Why does the government regulate competition?
Planet Money: Mavericks, Monopolies and Beer
Chapter 8 – Why do some businesses succeed
and others fail?
What are the risks and benefits of a sole
proprietorship?
What are the risks and benefits of a partnerships and
franchises?
What are the risks and benefits of a corporation?
How are some businesses organized to help others?
Chapter 9 – How can workers best meet the
challenges of a changing economy?
How do economic trends affect workers?
Why do some people earn more than others?
How do labor unions support the interests of
workers?
Content/Materia
ls
Chapter 7
Chapter 8
Chapter 9
Planet Money:
Mavericks,
Monopolies and
Beer
Academic Vocabulaty
Assessments
Section assessments,
chapter review
Chapter test comes
from bank with above
types of problems
Investigative Essay:
Research Businesses,
Chapter 7
Perfect competition, commodity, barrier to
entry, imperfect competition, start-up
costs, monopoly, economies of scale,
natural monopoly, government monopoly,
patent, franchise, license, price
discrimination, market power,
monopolistic competition, differentiation,
nonprice competition, oligopoly, price war,
collusion, price fixing, cartel, predatory
pricing, antitrust laws, trust, merger,
deregulation
Chapter 8
Sole proprietorship, business organization,
business license, zoning laws, liability,
fringe benefits, partnership, general
partnership, limited partnership, limited
liability partnership, articles of partnership,
assets, business franchise, royalties,
corporation, stock, closely held
corporation, publically held corporation,
bond, certificate of incorporation,
dividend, limited liability corporation,
horizontal merger, vertical merger,
conglomerate, multinational corporation,
cooperative, consumer cooperative, service
cooperative, producer cooperative,
nonprofit organization, professional
organization, business association, trade
association
Chapter 9
Labor force, outsourcing, offshoring,
learning effect, screening effect, contingent
employment, guest workers, derived
demand, productivity of labor, equilibrium
wage, unskilled labor, semi-skilled labor,
skilled labor, professional labor, glass
ceiling, labor union, featherbedding, strike,
right to work, blue collar worker, white
collar worker, collective bargaining,
mediation, arbitration
Block
Common Core
Standard(s)
from engage
New York
Chapter 10
12.E1c
12.E3c
12.E1d
Chapter 11
12.E1a
12.E1b
12.E1c
Chapter 12
12.E4a
12.E4b
Topic(s)/
Essential Question(s)
Chapter 10 – How well do financial services
serve our needs?
Content/Materia
ls
What are the benefits and risks of savings and
investments?
Why are bonds bought and sold?
How does the stock market work?
S
Assessments
Chapter 10
Chapter 11
Chapter 12
Section assessments,
chapter review
How does money serve the needs of our society?
How has the American banking system changed to
meet new challenges?
What banking services do financial institutions
provide?
Chapter 11 – How do your saving and
investment choices affect your future?
Academic Vocabulaty
Chapter test comes
from bank with above
types of problems
The New Yorker:
Shut Up Savers!
Chapter 10
Money, medium of exchange, barter, unit
of account, store of value, currency,
commodity money, representative money,
specie, fiat money, bank, national bank,
bank run, greenback, gold standard, central
bank, member bank, foreclosure, money
supply, liquidity, demand deposit, money
market mutual fund, fractional reserve
banking, default, mortgage, credit card,
interest, principal, debit card, creditor
Reflection
Stock Market
Game
Stock Market Portfolio
Chapter 12 – How do we know if the
economy is healthy?
2A
What does GDP show about the nation’s economy?
What factors affect the phases of a business cycle?
How does the economy grow?
Nytimes: As
Biofuel Demand
Grows So Do
Guatemala’s
Hunger Pains
Reflection
Chapter 11
Investment, financial system, financial
asset, financial intermediary, mutual fund,
hedge fund, diversification, portfolio,
prospectus, return, coupon rate, maturity,
par value, yield, savings bond, inflationindexed bond, municipal bond, corporate
bond, junk bond, capital market, money
market, primary market, secondary market,
share, capital gain, capital loss, stock split,
stockbroker, brokerage firm, stock
exchange, futures, options, call option, put
option, bull market, bear market,
speculation
Chapter 12
National income accounting, gross
domestic product, intermediate goods,
durable goods, nondurable goods, nominal
GDP, real GDP, gross national product,
depreciation, price level, aggregate supply,
aggregate demand, business cycle,
expansion, economic growth, peak,
contraction, trough, recession, depression,
stagflation, leading indicators, real GDP,
capital deepening, saving, savings rate,
technological progress
Block
Common Core
Standard(s)
from engage
New York
Topic(s)/
Essential Question(s)
Content/Materia
ls
Chapter 13
Chapter 14
Chapter 15
Chapter 13 – How much can we reduce
unemployment, inflation, and poverty?
What are the causes of unemployment?
What are the causes and effects of inflation?
What factors affect the poverty rate?
Chapter 14 - How can taxation meet the
needs of government and the people?
Chapter 13
12.E3b
12.E3c
12.E3d
12.E3e
2B
Chapter 14
12.E4b
Chapter 15
12.E4b
What are the features of a tax system?
What taxes does the federal government collect?
How does the federal government spend its income?
How do local governments manage their money?
Chapter 15 – How effective is fiscal policy as
an economic tool?
What are the goals and limits of fiscal policy?
What economic ideas have shaped fiscal policy?
What are the effects of budget deficits and national
debt?
Time: If There’s
No Inflation, Why
are Prices Up So
Much?
Why Amazon
Supports an Online
Sales-Tax Bill?
New York Times:
Should We tax
people for being
annoying
Academic Vocabulaty
Assessments
Section assessments,
chapter review
Chapter test comes
from bank with above
types of problems
Debate: Role of
Taxation in the US
Economy
Chapter 13
Frictional unemployment, structural
unemployment, globalization, seasonal
employment, cyclical unemployment,
unemployment rate, full employment,
underemployed, discouraged worker
Inflation, purchasing power, price index,
Consumer Price Index, market basket,
inflation rate, core inflation rate,
hyperinflation, quantity theory, wage-price
spiral, fixed income, deflation, poverty,
poverty rate, income distribution, food
stamp program, Lorenz Curve, enterprise
zone, block grant, workfare
Chapter 14
Tax, revenue, progressive tax, proportional
tax, regressive tax, tax base, individual
income tax, corporate income tax, property
tax, sales tax, incidence of a tax,
withholding, tax return, taxable income,
personal exemption, tax deduction, tax
credit, estate tax, gift tax, tariff, tax
incentive, mandatory spending,
discretionary spending, entitlement,
budget, operating budget, capital budget,
balanced budget, tax exempt, real property,
personal property, tax assessor
Chapter 15
Fiscal policy, federal budget, fiscal year,
appropriations bill, expansionary policy,
contractionary policy, classical economics,
productive capacity, demand-side
economics, Keynesian economics,
multiplier effect, automatic stabilizer,
supply-side economics or Reaganomics or
trickle down economics, budget surplus,
budget deficit, Treasury bill, treasury note,
Treasury bond, national debt, crowding-out
effect
Block
Common Core
Standard(s)
from engage
New York
Topic(s)/
Essential Question(s)
Chapter 16 – How effective is monetary
policy as an economic tool?
Chapter 16
12.E4c
Chapter 17
12.E4d
12.E1d
2C
Chapter 18
12.31d
Personal
Finance
12.E1a
12.E1b
12.E1c
12.E1d
Content/Materia
ls
Chapter 16
Chapter 17
Chapter 18
How is the Federal Reserve System organized?
What does the Federal Reserve do?
How does the Federal Reserve control the amount of
money in use?
How does monetary policy affect economic stability?
Chapter 18 – Do the benefits of economic
development outweigh the costs?
How is a nation’s level of development defined?
What factors harm or help development? How has
economic change affected different countries?
What are the effects of globalization?
Personal Finance Handbook
Budgeting, checking, investments, savings and
retirement, credit and debt, risk management,
consumer smarts, after high school, taxes and income
Assessments
Section assessments,
chapter review
Chapter test comes
from bank with above
types of problems
Research Project: trace
how a product is make
Chapter 17 – Should free trade be
encouraged?
Why do nations trade?
What are the arguments for and against trade barriers
and agreements?
How do exchange rates affect international trade?
Academic Vocabulaty
Planet Money:
How Four
Drinking Buddies
Saved Brazil
Written Response
Ignite Presentation
Chapter 16
Monetary policy, reserves, reserve
requirements, Federal Reserve, check
clearing, bank holding company, federal
funds rate, discount rate, money creation,
required reserve ration, money multiplier
formula, excess reserves, prime rate, open
market operations, monetarism, easy
money policy, tight money policy, inside
lag, outside lag
Chapter 17
Export, import, absolute advantage,
comparative advantage, law of
comparative advantage, interdependence,
trade barrier, tariff, import quota,
sanctions, embargo, trade war,
protectionism, infant industry, free trade,
free trade zone, exchange rate,
appreciation, depreciation, foreign
exchange market, fixed exchange-market,
flexible exchange rate system, balance of
trade, trade surplus, trade deficit, balance
of payments
Chapter 18
Development, developed nation, less
developed country, newly industrialized
country, per capital GDP, industrialization,
literacy rate, life expectancy, infant
mortality rate, subsistence agriculture,
population growth rate, internal financing,
foreign investment, foreign direct
investment, foreign portfolio investment,
debt rescheduling, stabilization program,
nongovernmental organization.,
privatization, special economic zone,
globalization, offshoring, remittances,
brain drain, sustainable development,
deforestation
4A
3C
3B
Block
Common Core
Standard(s)
from engage
New York
Topic(s)/
Essential Question(s)
Content/Materia
ls
Academic Vocabulaty
Assessments
4C
4B
Block
Common Core
Standard(s)
from engage
New York
Topic(s)/
Essential Question(s)
Content/Materia
ls
Academic Vocabulaty
Assessments