Business & Technology Department Unit Plan for Introduction to Business/Personal Finance
Unit Length: 3 weeks
Date Create: Spring 2011
Unit 1 Title: The Economy and You
Goals/Standards/Benchmarks:
National Business Education Standards:
II. Economic Systems
VI. Banking and Financial Institutions
Illinois State Standards:
1.B.2a Establish purposes for reading; survey materials; ask questions; make predictions; connect; clarify and extend
ideas. (Communicating on the job)
1.C.4c Interpret, evaluate, and apply information from a variety of sources to their situations (e.g. academic, vocational,
technical, personal.) (Understand how to make decisions)
3.C.5b Write for real or potentially real situations in academic, professional and civic contexts (e.g., college applications,
job applications, business letters, petitions). (Seeking and applying for employment opportunities)
4.A.4a Apply listening skills as individuals and members of a group in a variety of settings (e.g., lectures discussions,
conversations, team projects, presentations, interviews).
4.A.4.b. Apply listening skills in practical settings (e.g., classroom note taking, interpersonal conflict situations, giving and
receiving directions, evaluating persuasive messages).
15.C.5.b. Explain how competition is maintained in the United States economy and how the level of competition varied in
differing market structures (e.g., monopoly, oligopoly, monopolistic and perfect competition).
Unit Overview
Unit Components:
Stage 1: Desired Results
UNDERSTANDINGS
Trends in the world of business affect business and workers.
Technology has an enormous impact on the world economy and business.
ESSENTIAL QUESTIONS
How do the trends of the world affect business?
How does technology impact the world economy and business?
Vocabulary : Key terminology
Basic Concepts – Chp. 1
Wants
Needs
Goods
Services
Resources
Business
Profit
Competition
Market Research
Consumer
Economic Resources – Chp. 2
Scarcity
Factors of Production
Natural Resources
Labor Resources
Capital Resources
Entrepreneurial Resources
Entrepreneurship
Economics
Economic Systems
Market Economy
Price
Page 1
Economic Activity/Changing World – Chp. 3
Gross Domestic Product (GDP)
Standard of Living
Inflation
Deflation
Budget Deficit
National Debt
Budget Surplus
Business Cycle
Prosperity
Recession
Depression
Supply/Demand
Equilibrium Price
Command Economy
Mixed Economy
Recovery
Knowledge and Skills:
Student “I Can Statements”
Assessment/Evidence
 I can describe how resources limit the number of wants
people and businesses can satisfy.
 I can explain how to use the decision-making process to
make the most of your resources.
 I can explain how business impacts you and how you
impact business.
 I can describe the factors of production.
 I can describe the three basic economic questions each
country must answer to make decisions about using its
resources.
 I can describe the four types of economic shifts the U.S.
has experienced.
 I can describe the four stages of the business cycle.
Products/Selected Response
Products/Selected Response
Products/Selected Response
Products/Selected Response
Products/Selected Response
Products/Selected Response
Products/Selected Response
Stage 2: Assessment Evidence
List point values for each assignments here…
Assessment
Suggested Points
Category/Weight
UNIT 1 Test
Chapter 1 Quiz: Basic Economic Concepts
Chapter 2 Quiz: Economic resources and systems
Chapter 3 Quiz: Economic Activity
Supply and Demand Worksheet
Economic Indicators WS
Country Economy Project
Economic Concepts WS
Workbook 1.1: Wants and Needs
Workbook 1.2: Basic Economic Concepts
Workbook 2.1: Economic Resources
Business Cycle WS
Ch 1 Key Concepts
Ch 2 Key Concepts
Ch 3 Key Concepts
100
25
25
25
10
10
30
10
5
5
5
5
10
10
10
Test
Quiz
Quiz
Quiz
Homework
Homework
Project
Homework
In-Class Assignment
In-Class Assignment
In-Class Assignment
In-Class Assignment
Homework
Homework
Homework
5 points each=100 points
Performace Task Summary
Discussions
Page 2
Workbook assignments
Rubric Titles
World Economies Rubric
Self-Assessment
Other Evidence, Summarized
Supply and Demand Activity
Review Questions in PowerPoint
Stage 3: Learning Activities
WEEK 1
 Ch 1 PP: Basic Economic Concepts
 Goods and Services overhead
 Needs and Wants Example Overhead
 Profit Problems
 Oppurtunity Cost lesson plan
 Review
 Ch 1 Quiz: Basic Economic Concepts
Week 2
Week 3







Ch 2 PP: Economic Resources
Ch 2 lesson on factors of production
Ch 2 lesson on types of economies
Supply and Demand WS
Group Project on World Econmies
Ch 2 Quiz: Economic Resources
Ch 3 PP:
Page 3