Pottsgrove School District Unit Planning Organizer Subjects Economics Grade / Course 12/Econ&Soc Unit of Study Economic Systems Unit Type(s) Topical Pacing Skills-based Dominant Focus: Introduction to Economics; Economic Systems: traditional, free market, command plan; American free enterprise Thematic Weeks: 7 weeks Current Priority State Standards and/or Common Core Standards List the priority standards (written out in bold) that will be taught during this unit of study. CAPITALIZE the SKILLS and underline the important concepts for all priority standards addressed in this unit. 6.3.12.A: EVALUATE the costs and benefits of government decisions to provide public goods and services. 6.1.12.B: EVALUATE the economic reasoning behind a choice. Evaluate effective allocation of resources for the production of goods and services. 6.2.12.E: EVALUATE the health of an economy (local, regional, national, global) using economic indicators. CC.WHST.12.9 DRAW evidence from informational texts to support analysis, reflection, and research. Current Supporting State Standards and/or Common Core Standards List the supporting standards (written out in non-bold) that will be taught during this unit of study. Supporting standards should not be unwrapped. 6.1.12.A: Predict the long-term consequences of decisions made because of scarcity. 6.1.12.D: Predict how changes in incentives may affect the choices made by individuals, businesses, communities, and nations. 6.3.12.B: Assess the government's role in regulating and stabilizing the state and national economy. ` ` Priority Standards “Unwrapped” Concepts “Unwrapped” Skills (Students need to know) (Students need to be able to do) Ex: 8.12.U.D May also include concepts in unit but not specified in standard Ex: Verb (concept) Bloom’s II Taxonomy Ex: 4 - Analyzing ● Costs and benefits of government decisions to provide public goods and services Assess(cost and benefits) 6.3.12.A Role of the Government in the Free Enterprise System Defend(public goods and services) 5-Evaluating Can the student justify a stand or decision? 5-Evaluating 6.1.12.B ● Economic reasoning behind a choice Debate Can the student justify a stand or decision? 5-Evaluating 6.2.12.E ● Health of an economy Determine or debate Can the student justify a stand or decision? CC.WHST.12.9 Evidence from informational texts Draw Essential Questions Essential Questions are engaging, open-ended questions that educators use to spark initial student interest in learning the content of the unit about to commence. Identify the Essential Questions that will be used throughout this unit to focus your instruction and assessment. For consideration, ask yourself the following about each essential question: 1 2 3 4 Is this question written in student friendly language? Can this question be answered with one of the Big Ideas? Does the question lead the students to discovery of the Big Ideas? Does the question go beyond who, what, where, when and ask the students to explain how and why? 1. What is scarcity? Why are all resources always scarce? Corresponding Big Ideas Big ideas are what you want your students to discover on their own as a result of instruction and learning activities. Identify the Big Ideas for each corresponding essential question. The goal is for students to effectively be able to respond to the teacher’s essential questions with the big ideas, stated in their 1. Scarcity implies limited quantities of resources to meet unlimited wants. Resources are always scarce because sooner or later, a limit is reached. You cannot have a an endless supply of everything. Economics is about solving the problem of scarcity. 2. What is a trade-off? Explain how people make trade-offs by thinking at the margin. 2. Trade-offs are all the alternatives that we give up whenever we choose one course of action over another. Thinking at the margin is when you decide how much more or less to do. 3. What is an economic system? Explain the positives and negatives of the three main economic systems. (CR) 3. Economic System is the method used by a society to produce and distribute goods and services. Answers will vary: Traditional, Market, Command, Mixed. 4. What is the free market? Identify the advantages of a free market 4. An economic systems that are based on voluntary exchanges markets. In a free market economy, individuals and businesses use economy. markets to exchange money and products. Individuals and privately owned businesses own the factors of production, make what they want, and buy what they want. They answer the 3 key economic questions of what to produce, how to produce it, and who consumes that which is produced. Advantages(pg 32): 1. Economic efficiency 2. Economic freedom 3. Economic growth 4. Offer a wider variety of goods and services than any other system, because producers have incentives to meet consumers’ desires. Consumers decide what gets produced (called consumer sovereignty) 5. What is a centrally-planned economy? Identify the problems of a centrally planned economy. 5. In a centrally-planned economy, the central government, rather than the individual producers and consumers in markets, answers the key economic questions of production and consumption. Problems: Poor quality, serious shortages of non-priority goods and services, and diminishing production. Greatest disadvantage of centrally planned economies is that their performance almost always falls short of the ideals upon which the system is built. Cannot meet consumers’ needs or wants; workers lack any incentive to work hard; these systems also do not reward innovation, actively discouraging any kind of change; sacrifice individual freedoms in order to pursue societal goals. 6. What is a mixed economic system? Where does America fall on a continuum between centrally-planned and free market economic systems? A mixture of economic systems. Most contemporary mixed economies blend the market with government intervention or involvement, in the marketplace. USA: The U.S. has a free enterprise economy but the government intervenes to keep order, provide vital services, and to promote the general welfare. 7. What is American free enterprise? Describe the role of the government is the American free enterprise. Basic principles of Free Enterprise: Several key characteristics; profit motive, open opportunity, legal equality, private property rights, free contract, voluntary exchange, and competition. Role of Government: Carry out its constitutional responsibilities to protect rights, contracts, and other business activities in our free enterprise system. As well as protection from problems that affect us all, such as air pollution or unsafe foods or drugs 8. What is a business cycle? What are the differences between macroeconomics and microeconomics? A business cycle is a period of macroeconomic expansion followed by a period of contraction or decline. Macroeconomics is the study of the behavior and decision making of entire economies. Economy as a whole. Microeconomics is the study of the economic behavior and decision making of small units, such as individuals, families, and small businesses. 9. What is a public good? Evaluate how the government allocates resources. A public good is a shared good or service for which it would be inefficient or impractical, (1) to make consumers pay individually or (2) exclude nonpayers. The Government encourages the creation of positive externalities (education) and tries to limit negative externalities (acid rain) 10. What is a safety net? Describe the main programs through which the government redistributes income. A safety net is designed to help the very young, the very old, the sick, the poor, and the disabled. Various federal, state, and local government programs help raise people’s standard of living, their level of economic well-being as measured by the ability to purchase goods and services they need and want. Main programs for redistributing income: 1. TANF, Temporary Assistance for Needy Families 2. Social Security 3. Unemployment insurance 4. Workers’ compensation Plan for Instruction Make connections between learning experiences and teaching strategies. Engaging Learning Experiences (Authentic Performance Tasks) ● Task #1: Vocabulary association ● Task #2: Deserted Island ● Task #3: American Free enterprise ● Researched-based Effective Teaching Strategies ● Performance tasks ● Jig-saw ● Think-pair-share ● ● ● Engaging Learning Experiences for Honors (Authentic Performance Tasks) Researched-based Effective Teaching Strategies for Honors ● ● ● ● ● ● ● ● ● ● Common Assessments Note to Curriculum Designers: Review grade-or course-specific state standardized assessments for the types of questions directly related to the “unwrapped” Priority Standards' concepts and skills in focus for this unit of study. 2 Identify the vocabulary used and frequency of these questions. 3 Compare/contrast this information with the “unwrapped” concepts and skills listed above to determine how closely the two are aligned. 4 Create the Post Assessment using the Common Formative Assessment Template (Appendix A). 5 Create the Pre Assessment. Decide whether the pre-assessment will be aligned (directly matched to post-assessment but with fewer questions) or mirrored (exact number and type of questions as post-assessment. Create Informal Progress Monitoring Checks. Create short, ungraded “checks for student understanding” for the educator to administer throughout the unit of study that are directly aligned to the post-assessment questions (selected-, short-, extended-response, and/or performance-based) and that coincide with learning progressions—the “building block chunks” of instruction. 1 Post Assessment: Pre Assessment: Informal Progress Monitoring Checks: Unit Vocabulary Tier 3 Tier 2 Literary Terms ● Scarcity ● ● Need ● Physical Capital ● ● Want ● Human Capital ● ● Economics ● Entrepreneurs ● Goods ● Trade-offs ● Services ● Opportunity Costs ● Shortage ● Thinking at the Margin ● Land ● ● Underutilization ● ● Labor ● Efficiency ● ● Capital ● Factor payments ● ● Economic System ● safety net ● ● Patriotism ● Traditional economy ● ● Standard of Living ● Market economy ● Specialization ● Centrally planned economy ● household ● Command Economy ● ● ● ● ● ● ● firm ● Mixed economy ● Profit ● Markey ● self-interest ● Factor market ● Competition ● Product market ● Socialism ● Incentive ● Communism ● Invisible hand ● consumer sovereignty ● Collective ● Authoritarian ● private property ● privatize ● technology ● heavy industry ● work ethic ● Laissez faire ● welfare ● Free enterprise ● cash transfers ● continuum ● transition ● Profit motive ● open opportunity ● private property rights ● free contract ● voluntary exchange ● interest group ● public disclosure laws ● public interest ● macroeconomics ● mircoeconomics ● GDP ● business cycle ● public good ● public sector ● private sector ● free rider ● market failure ● externality ● poverty threshold ● in-kind benefits Instructional Resources and Materials Technology Program / Text Teacher Created ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●