FREE ENTERPRISE: Glencoe Economics: Today and Tomorrow
This is a one-semester course; therefore, all grade level expectations must be addressed in that one semester.
COMPREHENSIVE CURRICULUM UNIT 1: THE ECONOMIC WAY OF THINKING
This unit is a study how insufficient resources to meet needs and wants influence economic decisions based on four fundamental economic questions.
Student Understandings: Students understand that scarcity influences the economic choices at the personal, family, and societal levels. Students can use the Economic Way
of Thinking in their lives as responsible consumers, producers, savers and investors, and effective participants in a global economy.
Time Frame: Approximately one week
Benchmarks/
Suggested
Grade Level
Teacher Edition
Time
Expectations
Pages
1 Day
E-1A-H1 E-1B-H2
GLE 1, 2, 3. 4. 29, 32
*Refer to MCS
Comprehensive
Guide for full
explanation of
benchmarks and
grade level
expectations
1 Week
Key Concepts/Guided
Questions
Monroe City Schools
Handbook/ Classroom
Rules and Procedures
*Refer to MCS Comprehensive
Guide for Guided Questions
Teacher’s edition page
2A-2D, 30A-30D, 58A58D, 110A-110D,
140A-140D, 168A168D, 262A-262D,
472A-472D
Student’s edition page
• scarcity, choice - pp 3-5, 62
• opportunity cost - pp 111-115,
117-120, 121-127, 129-133, 141143, 172, 475-477
•trade-offs •costs and benefits
• marginal (added) cost - pp 4-5,
12-15, 43, 60, 62-64, 66-70, 86-87,
91-93, 98-99, 112-114, 117-119,
121-127, 129-133, 141-142, 172,
265-266, 279-280, 475-477
• Productive resources:
•natural resources - p 6
• capital resources - p 6
• human resources (including
human capital) - p 6
Factors affecting production and
distribution • incentive, profit, risk- p. 187-188
• price, relative price- p. 194-195
•capital investment - p 266-268
• consumption vs. saving - p 141142• entrepreneurship - p 10
Comprehensive
Curriculum
Activities
Recommended
Assessments
Teacher’s Notes
Rules and
Procedures
Teacher made
tests
Quizzes
Activity 1 (GLE: 2) Thinking Maps
Graphic
Activity 2 (GLE:
Organizers
29)
Current Events
Foldables
Activity 3 (GLE:
Maps
29)
Computer Lab
Assignments
Activity 4 (GLE:
(study guides,
32)
notebook checks,
bell work checks,
Activity 5 (GLEs:
presentations,
1,3,4)
projects, Social
Studies Fair,
scavenger hunts
• price, political
relative price
cartoons,
map quest)
• supplyEAGLE
and demand
pre/post
unit tests
Recommended
Activities
2011 FREE ENTERPRISE 1
COMPREHENSIVE CURRICULUM UNIT 2: MARKETS AND ENTREPRENEURS
Students study the market economy system and the role entrepreneurs play in making it work.
.
Student Understandings: Students understand that a market economy depends on a free enterprise system where entrepreneurs make economic decisions. Students evaluate
economic systems in the past and present for their advantages, disadvantages, and effectiveness in achieving given social goals. Students learn how economic incentives can
change economic behavior and the role of competition in making a market economy work. Students understand how an economy works through the study of the flow of goods and
services and money payments.
Time Frame: Approximately two weeks
Benchmarks/
Suggested
Grade Level
Teacher Edition
Time
Expectations
Pages
Teacher’s edition
pages
E-1A-H1, E-1A-H2,
E-1A-H4, E-1A-H5,
E-1A-H6, E-1A-H8,
E-1B-H2
2 weeks
GLE: 5, 6, 8, 13, 14,
16, 16, 20, 26, 31
*Refer to MCS
Comprehensive
Guide for full
explanation of
benchmarks and
grade level
expectations
2A-2D, 30A-30D,
168A-168D, 206A206D, 232A-232D,
288A-288D
Key Concepts/Guided
Questions
Student’s edition page
• channels of distribution – p 302
• capitalism (free enterprise), market
system - pp 35-36
• traditional system – p 33
• mixed system (as in most modem
economies) - p 38
• market structure – p 233-237, 239246
• pure competition - pp 234-237
• oligopoly - pp 243-245
• monopolistic competition – pp 245246
• monopoly - pp 240-243
• mergers, acquisition – 249-251
•supply – p 186 •natural
resources – p 6 • capital
resources • human resources
(including human capital) - p
6• capital resources – p 6
• businesses (corporation,
partnership, individual
proprietorship, cooperative) – pp
207-225
• mixed system (as in most modern
economics) – p 38
• Circular flow of goods/services and
Comprehensive
Curriculum
Activities
Recommended
Assessments
Teacher’s Notes
Teacher made
tests
Quizzes
Thinking Maps
(GLEs
Graphic
• command
economy- pp 33-34, 472
Organizers
Current Events
(GLE:
Foldables
Maps
Computer Lab
(GLE:
Assignments
(study guides,
notebook checks,
(GLE:
bell work checks,
presentations,
projects, Social
(GLEs:
Studies Fair,
scavenger hunts
political cartoons,
(GLE:
map quest)
EAGLE pre/post
unit tests
(GLEs:
Recommended
Activities
Activity 1:
6, 13)
Activity 2:
26)
Activity 3:
31)
Activity 4:
5)
Activity 5:
14, 15, 16)
Activity 6:
8)
Activity 7:
15, 17)
Activity 8: (GLE
20)
2011 FREE ENTERPRISE 2
money payments – pp 23-24, 37-38,
458-459
COMPREHENSIVE CURRICULUM UNIT 3: SUPPLY AND DEMAND
Students study how the principles of supply and demand determine price in a market economy.
Student Understandings: Students will understand that supply and demand determines price. Students use economic tools to explain and analyze how changes in supply
and demand impact price, incentives and profit.
Time Frame: Approximately two weeks
Suggested
Time
Benchmarks/
Grade Level
Expectations
E – 1B-H1
GLEs: 27, 28
2 weeks
*Refer to MCS
Comprehensive
Guide for full
explanation of
benchmarks and
grade level
expectations
Teacher Edition
Pages
Teacher’s edition
pages
168A-168D
Key Concepts/Guided
Questions
Student’s edition page
• supply – p 186
• supply or demand curve – pp
179, 182-184, 189, 191, 195-196
• equilibrium price p 194-196
• substitutes/complements – p 182183
• demand – p 169
• elastic/inelastic – p 181-184
Comprehensive
Curriculum
Activities
Recommended
Activities
Activity 1 (GLEs
27, 28)
Activity 2 (GLE
27)
Activity 3 (GLEs
27, 28)
Activity 4 (GLE 27)
• shortage/surplus –
• price of the product – pp 182-183
• price of inputs. Competition
• price of related (complementary
or substitute) products – pp190192
• technological change – p 190
• consumer tastes, preferences, and
income levels – pp 182-183
Activity 5 (GLEs
27, 28)
Activity 6 (GLE 28)
Recommended
Assessments
Teacher’s Notes
Teacher made
tests
Quizzes
Thinking Maps
Graphic
Organizers
Current Events
Foldables
Maps
Computer Lab
Assignments
(study guides,
notebook checks,
bell work checks,
presentations,
projects, Social
Studies Fair,
scavenger hunts
political cartoons,
map quest)
EAGLE pre/post
unit tests
*Refer to MCS Comprehensive
Guide for Guided Questions
2011 FREE ENTERPRISE 3
COMPREHENSIVE CURRICULUM UNIT 4: PRODUCTION
Students study the factors of production in an economy and the conditions that affect the productivity.
Student Understandings: Students understand that production in an economy is affected by factors of production and by labor and management conditions and practices.
Students learn that the productivity of an economy affects the standard of living.
Time Frame: Approximately two weeks
Benchmarks/
Suggested
Grade Level
Teacher Edition
Time
Expectations
Pages
Teacher’s edition
pages
2 Weeks
E-1A-H2, E-1A-H6,
E-1B-H2, E-1C-H1
GLEs: 7, 8, 9, 19, 30,
48
Refer to MCS
Comprehensive
Guide for full
explanation of
benchmarks and
grade level
expectations
2A-2D, 30A-30D, 58A58D, 262A-262D,
288A-288D, 312A312D, 564A-564D
Key Concepts/Guided
Questions
Student’s edition page
• Productivity, specialization – pp.
7, 280-281, 565-569, 571, 578
• career planning, career options –
pp 314-316
• Goods and services
• goods- p 6
• services- p 6
• producers, consumers – p 59
• buyers, sellers
• distribution
• channels of distribution –p 302
• factors of production –p 5
• production – pp 31, 277
•consumption
•marketing –p 289
Labor union terminology:
• labor contract, negotiation – p
330
•slowdown, strike – p 329
•Lockout –p 331
• scab – p 331
•open/closed shop – p 324
• right to strike, "right to work"
laws - p 325
• injunction - p 332
• Factors of production (i.e., land,
labor,
capital,
and
Comprehensive
Curriculum
Activities
Recommended
Activities
Activity 1 (GLEs 7,
8, 19)
Activity 2 (GLEs 7,
9, 48)
Activity 3 (GLEs 7,
9, 30, 48)
Activity 4 (GLE 19)
Activity 5 (GLE 19)
Activity 6 (GLE 30)
Recommended
Assessments
Teacher’s Notes
Teacher made
tests
Quizzes
Thinking Maps
Graphic
Organizers
Current Events
Foldables
Maps
Computer Lab
Assignments
(study guides,
notebook checks,
bell work checks,
presentations,
projects, Social
Studies Fair,
scavenger hunts
political cartoons,
map quest)
EAGLE pre/post
unit tests
2011 FREE ENTERPRISE 4
entrepreneurship) – p 5
•economic growth– p 48
*Refer to MCS Comprehensive
Guide for Guided Questions
COMPREHENSIVE CURRICULM UNIT 5: MONEY, BANKING, AND THE FEDERAL RESERVE
Students study the role of economic institutions in the U.S. economy.
Student Understandings: Students will understand that the banking system regulates the supply of money and provides services to consumers. Students will learn that
financial markets provide capital for economic growth. Students will learn that interest rates impact both business and consumers. Students will understand the role of regulatory
agencies in managing the U.S. economy. Students will apply their knowledge of the role of economic institutions to an historical economic issue or situation.
Time Frame: Approximately two weeks
Benchmarks/
Suggested
Grade Level
Teacher Edition
Time
Expectations
Pages
Teacher’s edition
pages
2 Weeks
E-1A-H6, E-1A-H7,
E-1A-H8, E-1C-H2,
E-1C-H4
GLEs: 10, 17, 22, 23,
24, 25, 53, 63, 65
*Refer to MCS
Comprehensive
Guide for full
explanation of
benchmarks and
grade level
expectations
206A-206D, 312A312D, 374A-374D,
398A-398D, 542A542D
Key Concepts/Guided
Questions
Student’s edition page
• Economic institutions:
• multinational corporations – pp
553-557
•stock market – p 223
• businesses (corporation,
partnership, individual
proprietorship, cooperative) – pp
207-225
• banks – pp 407-441
• labor unions – pp 323, 329-332
• role of money - pp 407-441
• role of banks - pp 407-441
• banking – pp 403, 408-409, 412413
• money supply – pp 407-410, 416
• barter – pp 376-377
• money – pp 376-377
• availability of credit – pp 412413, 414-415
• bank reserves – pp 412-413
Comprehensive
Curriculum
Activities
Recommended
Assessments
Teacher’s Notes
Teacher made
tests
Quizzes
Activity 1 (GLEs
Thinking Maps
10, 17)
Graphic
Organizers
Activity 2 (GLEs
Current Events
22, 24, 65)
Foldables
Maps
Activity 3 (GLEs
Computer Lab
17, 23)
Assignments
(study guides,
– pp
71-72
Activity 4 (GLEs• government
notebook
checks,
25, 65)
bell work checks,
presentations,
Activity 5 (GLE 53) projects, Social
Studies Fair,
Activity 6 (GLE 63) scavenger hunts
political cartoons,
map quest
EAGLE pre/post
unit tests
Recommended
Activities
2011 FREE ENTERPRISE 5
• loans, interest rates – pp 412-414
• role of the Federal Reserve
System as the central banking
system of the U.S. – pp 399-405
*Refer to MCS Comprehensive
Guide for Guided Questions
Suggested
Time
2 Weeks
continued
Benchmarks/
Grade Level
Expectations
E-1A-H6, E-1A-H7,
E-1A-H8, E-1C-H2,
E-1C-H4
Teacher Edition
Pages
Key Concepts/Guided
Questions
Teacher’s edition
pages
Student’s edition page
58A-58D, 140A- 140D,
374A-374D, 398A398D
• interest rate – pp 412-414
Recommended
Activities
Activity 1 (GLEs
10, 17)
Activity 2 (GLEs
22, 24, 65)
GLEs: 10, 17, 22, 23,
24, 25, 53, 63, 65
*Refer to MCS
Comprehensive
Guide for full
explanation of
benchmarks and
grade level
expectations
Comprehensive
Curriculum
Activities
Activity 3 (GLEs
17, 23)
• loans, interest rates –pp 412-414
• role of the Federal Reserve
System as the central banking
system of the U.S. - pp 399-405
• U.S. Government regulation of
the economy
• Regulatory agencies - p 74
• Securities and Exchange
Commission – p 153
Activity 4 (GLEs
25, 65)
Activity 5 (GLE 53)
Activity 6 (GLE 63)
Recommended
Assessments
Teacher’s Notes
Teacher made
tests
Quizzes
Thinking Maps
Graphic
Organizers
Current Events
Foldables
Maps
Computer Lab
Assignments
(study guides,
notebook checks,
bell work checks,
presentations,
projects, Social
Studies Fair,
scavenger hunts
political cartoons,
map quest
EAGLE pre/post
unit tests
• Federal Deposit Insurance
Corporation (FDIC) – pp 143, 383
*Refer to MCS Comprehensive
Guide for Guided Questions
2011 FREE ENTERPRISE 6
COMPREHENSIVE CURRICULUM UNIT 6: ECONOMIC INDICATORS
This unit is a study of how economic measurement tools are used to interpret and explain the condition of the U.S. and international economy.
Student Understandings: Students will understand that economic indicators are used to measure the well being of an economy. Students will learn to use economic
indicators in charts, tables, or graphs to compare different economies, interpret income distributions, and explain economic concepts such as inflation and deflation.
Time Frame: Approximately two weeks
Benchmarks/
Suggested
Grade Level
Teacher Edition
Time
Expectations
Pages
Teacher’s edition
pages
2 Weeks
E-1C-H1, E-1C-H2,
E-1C-H3
GLEs: 47, 49, 50, 51,
52, 56, 57, 58, 59, 61
*Refer to MCS
Comprehensive
Guide for full
explanation of
benchmarks and
grade level
expectations
82A-82D, 140A-140D,
262A-262D, 342A342D, 374A-374D,
450A-450D, 472A472D
Key Concepts/Guided
Questions
Comprehensive
Curriculum
Activities
Student’s edition page
• Gross Domestic Product - pp
344-346
• real GDP – pp 353-354
• stock market indices – p 152
• unemployment rate - p 452
• interest rate - pp 86, 142-148,
274
• foreign exchange rate - p 479-482
• per capita GDP - pp 353-354
• Consumer Price Index - pp 351352, 372-373
• rate of inflation - pp 350-353,
454-455, 357-358
• per capita income - p 347
• currency valuation – pp 377-379
Activity 1 (GLEs
47, 59)
Activity 2 (GLEs
47, 49, 51, 52)
Activity 3 (GLEs
47, 56, 57, 58)
Activity 4 (GLEs
47, 50, 61)
Activity 5 (GLE 52)
Activity 6 (GLE 52)
Recommended
Assessments
Teacher’s Notes
Teacher made
tests
Quizzes
Thinking Maps
Graphic
Organizers
Current Events
Foldables
Maps
Computer Lab
Assignments
(study guides,
notebook checks,
bell work checks,
presentations,
projects, Social
Studies Fair,
scavenger hunts
political cartoons,
map quest
EAGLE pre/post
unit tests
2011 FREE ENTERPRISE 7
• Inflation, deflation – pp 350-354,
454-455
*Refer to MCS Comprehensive
Guide for Guided Questions
COMPREHENSIVE CURRICULUM UNIT 7: GOVERNMENT POLICY AND TAXATION
This unit focuses on the role of government in a market economy in establishing fiscal and taxation policy.
Student Understandings: Students understand that government impacts an economic system as producer, employer, and consumer. Students understand that government
establishes economic policies for the purpose of regulating economic behavior. Students learn that government is financed through various forms of taxation. Students learn how
tax policy affects the U.S. economy.
Time Frame: Approximately two weeks
Benchmarks/
Suggested
Grade Level
Teacher Edition
Time
Expectations
Pages
Teacher’s edition
pages
Key Concepts/Guided
Questions
Comprehensive
Curriculum
Activities
E-1A-H6, E-1B-H3,
E-1C-H3, E-1C-H4
GLEs: 18, 33, 34, 35,
36, 37, 38, 60, 62, 64
*Refer to MCS
Comprehensive
Guide for full
explanation of
benchmarks and
grade level
expectations
232A-232D, 422A422D, 472A-472D
58A-58D, 312A-312D,
422A-422D
Teacher’s Notes
Student’s edition page
Activity 1 (GLE 18)
2 Weeks
Recommended
Assessments
• Government action intervention
in a market economy
• taxation – pp 440-443
• government spending – pp 438
• regulation – p 253
• Louisiana’s economic roles:
• national economy
• world economy
• price stability
• maximum employment
• economic growth
• Fiscal policies
• government spending –pp 425,
431
• government revenue – pp 441442, 487
Activity 2 (GLEs
33, 34)
Activity 3 (GLEs
34, 35, 36)
Activity 4 (GLEs
37, 38)
Activity 5 (GLE 60)
Activity 6 (GLE 33)
Activity 7 (GLE 62)
Activity 8 (GLE 64)
Teacher made
tests
Quizzes
Thinking Maps
Graphic
Organizers
Current Events
Foldables
Maps
Computer Lab
Assignments
(study guides,
notebook checks,
bell work checks,
presentations,
projects, Social
Studies Fair,
scavenger hunts
political cartoons,
map quest
EAGLE pre/post
2011 FREE ENTERPRISE 8
unit tests
• taxation programs – p 441
• balanced budget
• budget deficit/surplus – pp 438439
• national debt - pp 438-439
• distribution of income – pp 6061, 316-317, 431
*Refer to MCS Comprehensive
Guide for Guided Questions
COMPREHENSIVE CURRICULUM UNIT 8: THE GLOBAL ECONOMY
This unit emphasizes how nations, businesses, and individuals participate in a global interdependent economy.
Student Understandings: Students understand that the world is a globally interdependent economy. Students learn how currency and trade policy affect the global
economy. Students learn the benefits and costs of economic interdependence. Students learn how nations, institutions and economic trends affect the global economy. Students
understand that Louisiana is a part of a global economy.
Time Frame: Approximately two weeks
Benchmarks/
Suggested
Grade Level
Teacher Edition
Time
Expectations
Pages
Teacher’s edition
pages
2 Weeks
E-1A-H6, E-1B-H4,
E-1B-H5, E-1B-H6
GLEs: 21, 39, 40, 41,
42, 43, 44, 45, 46
*Refer to MCS
Comprehensive
Guide for full
explanation of
benchmarks and
grade level
expectations
472A-472D, 486A496D, 516A-516D,
542A-542D
Key Concepts/Guided
Questions
Comprehensive
Curriculum
Activities
Recommended
Assessments
Teacher’s Notes
Student’s edition page
•Economic interdependence:
• global economy
• imports/exports – pp 473-484
• trade agreements – 488-489
• trade surplus/deficit – pp 483-484
• balance of trade - p 483
• value of currency – p 482
• foreign exchange – p 479-482
• Effects of domestic policies on
international trade
•tariffs/duties – pp 486-487
• non-tariff barriers to trade (e.g.,
quotas) – pp 486-487
• protectionism – pp 487-489, 506,
531, 556
• International Monetary Fund
(IMF) – pp 481, 523, 527
Effects of domestic policies on
international trade
Activity 1 (GLE 44)
Activity 2 (GLEs
21, 45)
Activity 3 (GLEs
39, 40)
Activity 4 (GLEs
41, 42)
Activity 5 (GLE 43)
Activity 6 (GLE 46)
Teacher made
tests
Quizzes
Thinking Maps
Graphic
Organizers
Current Events
Foldables
Maps
Computer Lab
Assignments
(study guides,
notebook checks,
bell work checks,
presentations,
projects, Social
Studies Fair,
scavenger hunts
political cartoons,
map quest
EAGLE pre/post
2011 FREE ENTERPRISE 9
unit tests
•tariffs/duties – pp 486-487
• non-tariff barriers to trade (e.g.,
quotas) – pp 486-487
• protectionism – pp 487-489, 506,
531, 556
• International Monetary Fund
(IMF) – pp 481, 523, 527
*Refer to MCS Comprehensive
Guide for Guided Questions
COMPREHENSIVE CURRICULUM UNIT 9: PERSONAL ECONOMICS
This unit emphasizes how nations, businesses, and individuals participate in a global interdependent economy.
Student Understandings: Students understand that the world is a globally interdependent economy. Students learn how currency and trade policy affect the global
economy. Students learn the benefits and costs of economic interdependence. Students learn how nations, institutions and economic trends affect the global economy. Students
understand that Louisiana is a part of a global economy.
Time Frame: Approximately two weeks
Benchmarks/
Suggested
Grade Level
Teacher Edition
Time
Expectations
Pages
Teacher’s edition
pages
1 Week
E-1A-H1, E-1A-H3,
E-1C-H2
GLEs: 1, 11, 12, 54,
55
*Refer to MCS
Comprehensive
Guide for full
explanation of
benchmarks and
grade level
expectations
472A-472D, 486A496D, 516A-516D,
542A-542D
Key Concepts/Guided
Questions
Comprehensive
Curriculum
Activities
Recommended
Assessments
Teacher’s Notes
Student’s edition page
• availability of credit – pp 412415
• bank reserves – pp 412-413
Activity 1 (GLE 1)
• loans, interest rates –pp 412-414.
Activity 3 (GLE 55)
Activity 2 (GLEs
11, 12)
Activity 4 (GLE 54)
*Refer to MCS Comprehensive
Guide for Guided Questions
Teacher made
tests
Quizzes
Thinking Maps
Graphic
Organizers
Current Events
Foldables
Maps
Computer Lab
Assignments
(study guides,
notebook checks,
bell work checks,
presentations,
projects, Social
Studies Fair,
scavenger hunts
political cartoons,
map quest
EAGLE pre/post
2011 FREE ENTERPRISE 10
unit tests
2011 FREE ENTERPRISE 11