2009 -2010 Economics – Unit One
Unit Title
Grade Level
Timeframe
Subject or Topic Area
Summary of Unit
Economics, New Ways of Thinking
11 + 12
Three Weeks
Introduction to Economics
“Economics is a study of men as they live and move
and think in the ordinary business of life.” Alfred
Marshall
Students will be introduced to the basic language and
foundations of economics and the economic way of
thinking connecting to their own personal economics.
They will also be presented with the opportunity to
interpret and analyze information in various graphs, e.g.,
line, bar, circle and models, e.g., circular flow further
enriching their knowledge.
Students will make connections to the real world as
they begin to think in terms of making informed choices,
costs and benefits, scarcity and competition for
resources, incentives and innovative thinking,
entrepreneurship, the role of government, unintended
effects, global perspectives, visionary thinking, impact of
media and the characteristics and ethics of free enterprise
Students will complete the Performance Assessment
developing a Personal Economic Plan, integrate real
world application to their lives and meet all
requirements. They will present their work verbally and
complete all requirements.
Overarching/Essential Questions
Economics Overarching Questions:
1. What are the basic principles of economics needed
to interpret local, state, national, and international
economic activity? (6.15)
2. What is the impact of economic systems on the
needs and wants of all people and on the environment
in various times in their local community, in
Vermont, in the United States, and in various
locations world wide? (6.16)
3. How do governments affect the flow of resources,
goods, and services and decide who gets what goods
and services? (6.17)
4. From whose viewpoint, perspective or angles are
we seeing, reading and/or hearing? (6.2, 6.4)
5. What is the interaction and interconnectedness
between humans, the environment, and the economy?
(6.15, 6.16)
6. What does it mean to be a consumer, producer,
saver, investor, and a citizen?
Topical Questions
Established Goals: (Grade Cluster
Expectations (Goes) and Standards)
1. What is economics?
2. What are the major economic systems and
why are they connected globally?
3. What is free enterprise?
4. Why do incentives affect innovation and lead
to economic growth?
5. What is opportunity cost?
6. What does an entrepreneur do?
7. How and why
8. Why are public goods created?
9. What economic system do you believe is good
for the poor and why?
10. Why did the concept of the “American
Dream” impact economic growth in the
United States and globally?
6.1 Causes and Effects in Human Societies:
6.2 Uses of Evidence and data
6.4 Historical Connections
6.15 Knowledge of Economic Principles
Students use the basic principles of economics to
interpret local, state, national, and international
economic activity.
6.16 Impact of Economic Systems
Students evaluate the impact of economic systems on
the needs and wants of all people and on the
environment in various times in their local
community, in Vermont, in the United States, and in
various locations world wide.
6.17 Governments and Resources
Students understand how governments affect the flow
of resources, goods, and services.
Vital Results:
1.8 Reports
1.19 Research
1.21 Selection
1.22 Simulation and Modeling
2.1 Types of Questions
3.3 Respect
3.10 Teamwork
3.11 Interactions
4.1 Service
4.2 Democratic Processes
4.3 Cultural Expressions
4.4 Effects of Prejudice
4.5 Continuity and Change
4.6 Understanding Place
Introductory Activities
1. Students are given the Theme, Topic, and Purpose
of the Unit, Standards, Overarching/Essential and
Topical Questions, the Five Big Ideas and the unit
Performance Assessment.
2. Students will be assigned and responsible for
reading.
3. Students will work with atlases in order to
understand location of countries and geographical,
environmental, and economic
areas worldwide.
4. Students will participate in activities, e.g.,
cooperative group work, ABCD, brainstorming,
Exit Cards and Chalktalk, reflecting their prior
knowledge of economics connecting to
Overarching/Essential and Topical Questions,
the Five Big Ideas and share in class.
4. Students will Brainstorm and analyze why
markets exist and share in class.
5. Students will explore on the Internet sites
allowing for the understanding of various
economic systems and create visuals reflecting
the comparisons and their knowledge.
Enabling Activities
1. Students will maintain a portfolio of their work
and self-assessments.
2. Students will participate in various writing
activities, e.g., KWHL, Comparison/Contrast,
Exit Cards, Student Response Logs, Compare
and Contrast, various journal formats, Venn
Diagram, group work and free writes relating to
the visual and literal texts, the Five Big Ideasgeography/environment, politics, economics,
social/cultural and science/technology and the
unit’s Overarching/Essential and Topical
Questions to be placed in their portfolio.
3. Students will analyze and create a Mind Map of
the history of economics (who, what, where,
when, why and how) and share in class.
4. Students will create a Chart analyzing the
development of various economic systems, their
connections to a global economy, and free
enterprise and political ideologies, connecting to
the Five Big Ideas- geography/environment,
politics, economics, social/cultural and
science/technology and the unit’s
Overarching/Essential and Topical Questions to
be placed in their portfolio.
5. Students will maintain a portfolio of their work
and self-assessments.
6. Students will read articles and analyze the texts
in various writing activities connecting to the
Overarching/Essential and Topical Questions, the
Five Big Ideas and participate in the writing/peer
review processes First draft
 Rewrite
 Second draft
 Rewrite
 Peer evaluation
7. Students will conduct research in the school
library and on the Internet connecting to the
Overarching/Essential and Topical Questions, the
Five Big Ideas.
8. Students will take traditional assessments to
demonstrate their content knowledge.
Performance Tasks
Performance Assessment - Personal Economic Plan How can I make the best economic choices?
Part 1 - You will keep a double-entry journal for one
seven day week recording your “stuff” usage. In the
left-hand column, you will record answers to the
following questions1. How much “stuff” do I use?
2. What kind of “stuff” is it?
3. What did I throw away and why?
4. Where does it come from?
5. How does it make me feel?
In the right hand column, you will write in detail
your reflections on what you have recorded in the lefthand column and answer the following questions1. Did I need as much of this item as I used?
2. Did I need it at all?
3. Is there an alternative to buying this?
4. Is their an alternative to throwing it away?
Part 2 – Writing Component- 2-3 page original
reflective piece.
You will develop your own Personal Economic Plan
that clearly addresses the following promptHow can I make the best economic choices?
and connect to the Overarching/Essential and Topical
Questions and the Five Big Ideas. You will also
participate in the Writing and Peer Review Process.
Part 3 – Verbal Presentation
You will present your work to your peers and invited
guests for assessment.
Part 4 – Rubric and GRASPs checklist
You will complete the rubric with clearly written
reasons for your choice of placement on it and check off
the goals on the GRASPs checklist.
GRASPS Task Design Prompts
Goal
Your task is to create a Personal Economic Plan reflecting your enduring learning.
The goal is to conduct research, create a journal and written piece analyzing and answering How can you make
the best economic choices?
The problem or challenge is making sure you keep a daily journal for a full seven days and placing yourself in
the position of the person in the real world disregarding preconceived notions concerning your original views
on personal economics.
The obstacles to overcome are planning time for your journal entries so they are complete, being informed and
developing a realistic Personal Economic Plan demonstrating your knowledge of economic principles and
making a real world application.
Role
You are to become an informed person in current economic times.
You have been asked to thoughtfully plan out the components of your Personal Economic Plan addressing each
of the Five Big Ideas and Overarching/Essential and Topical Questions integrating economic principles.
Your job is to be very thorough in your research and to complete each stage of the assignment on time.
Audience
Your clients are your peers and the teacher.
The target audience is a classroom of students
You need to convince your peers, guests and teacher of your knowledge and ability to convey your topic in an
original creative and accurate presentation.
Situation
The context you find yourself is a modern day teen living in the current economic time.
Product, Performance, and Purpose
You will create a Personal Economic Plan that is based on research and the Five Big Ideas.
You need to present thoughtful reflections making clear connections to the unit’s Overarching/ Essential
Questions and show a mastery of economic principles and knowledge that are needed to understand the topic.
Standards and Criteria for Success
Your performance needs to be complete, accurate, well-prepared, practiced, peer reviewed, and handed in on
time.
Your work will be judged by your peers, any guests and teacher.
Your product must meet the following standards planning, organization, historical accuracy in content, original
thinking, use of time in the writing and peer review process, connection to Overarching/Essential Questions, the
Five Big Ideas, speaking skills and evidence of learning.
Verbal Presentation Rubric: Personal Economic Plan - How can I make the
best economic choices?
3
2
1
CATEGORY 4
Preparedness Student is
completely
prepared and has
obviously
rehearsed.
Student is mostly
prepared but
needed more
rehearsals for
presentation.
The student is barely
prepared, but it is clear
that rehearsal was
lacking as well as clear
understanding of the
topic in depth.
Student is not
prepared to present
and does not clearly
understand the
topic in depth.
Time-Limit
Presentation is 5- 6 Presentation is 4
or more minutes
minutes long.
long.
Presentation is 3
minutes long.
Presentation 3
minutes or less.
Speaks
Clearly
Speaks clearly and
distinctly all the
time, and
mispronounces no
words.
Speaks clearly and
distinctly all the
time, but
mispronounces one
word.
Speaks clearly and
distinctly most of the
time. Mispronounces
more than two words.
Student does not
speak clearly and
mispronounces
more than three
words.
Vocabulary
Uses vocabulary
appropriate for the
audience. Extends
audience
vocabulary by
defining words that
might be new to
most of the
audience.
Uses vocabulary
appropriate for the
audience. Includes
1-2 words that
might be new to
most of the
audience, but does
not define them.
Uses vocabulary
appropriate for the
audience. Includes
words such as
whatever, whatnot,
like, etc. Does not
include any vocabulary
that might be new to
the audience
Uses several (5 or
more) words or
phrases that are not
understood by the
audience. Includes
words such as
whatever, whatnot,
like, etc.
Connection to
Economic
Principles and
Evidence of
Knowledge of
the topic
Student
demonstrates clear
knowledge of the
topic, addresses it
in depth, and can
answer questions
from the audience
Student
demonstrates
knowledge for the
most part addresses
the topic but can
not answer all the
questions asked
from the audience
The student is
struggling with the
topic and has fair
knowledge, can not
answer most questions
from the audience
Student does not
know the topic well
and can not
answers questions
that demonstrate
understanding of
the topic
Performance Essay Rubric- Personal Economic Plan - How can I make the best
economic choices?
CATEGORY 4
3
2
1
Writing and
Peer Review
Process
Writing/Peer review
process are met and
in on time.
Writing and Peer
Review process are
met and in on time
Writing/Peer Review Writing/Peer Review
process are met and process not met or in
in on time
on time
Introduction
Captures the
audience’s interest
and clearly states
topic
Captures the
audience’s interest
and states the topic
A catchy beginning
was attempted but
was confusing rather
than catchy.
No attempt was made
to catch the reader's
attention in the first
paragraph.
Neatness
The final draft of the
paper is readable,
clean, neat and
attractive. It is free of
erasures and crossedout words. It looks
like the author took
great pride in it.
The final draft of the
paper is readable,
neat and attractive. It
may have one or two
erasures, but they are
not distracting. It
looks like the author
took some pride in it.
The final draft of the
paper is readable and
some of the pages are
attractive. It looks
like parts of it might
have been done in a
hurry.
The final draft is not
neat or attractive. It
looks like the student
just wanted to get it
done and didn't care
what it looked like.
Connections
to
Overarching/
Essential and
Topical
Questions and
The Five Big
Ideas
Very clear and
detailed connection to
the
Overarching/Essential
and Topical
Questions and the
Five Big Ideas
Connection to some
Overarching/Essential
and Topical
Questions and the
Five Big Ideas
Little Connection to
Overarching/Essential
and Topical
Questions and the
Five Big Ideas
No detailed
connections to
Overarching/Essential
and Topical
Questions and the
Five Big Ideas
Connections
Evidence of
Economic
Principles and
Terminology
Very clear evidence
of four economic
principles and
extensive inclusion of
appropriate
terminology
Evidence of three
economic principles
and inclusion of some
appropriate
terminology
Some connection to
three economic
principles and some
inclusion of
appropriate
terminology
No detailed
connections to
economic principles
and little if any
inclusion of
appropriate
terminology
Length
3 + pages
2.5 Pages
2 pages
Less than 2 pages