Curriculum Framework
Quarter 2
Economics
Introduction
In 2014, the Shelby County Schools Board of Education adopted a set of ambitious, yet attainable goals for school and student performance. The
District is committed to these goals, as further described in our strategic plan, Destination 2025.
By 2025,
 80% of our students will graduate from high school college or career ready
 90% of students will graduate on time
 100% of our students who graduate college or career ready will enroll in a post-secondary opportunity.
Purpose of the Framework
The 2015-2016 Social Studies Curricula Framework is to be utilized as a resource when planning classroom instruction and projects. Our goal is to
ensure our students graduate ready for college and careers. This will require a comprehensive, integrated approach to literacy instruction that
ensures that students become efficient readers, writers, and communicators. To achieve this, it is essential that literacy strategies be purposefully
and appropriately planned and implemented.
There are three instructional shifts that teachers should remember when planning and teaching:
http://www.tncore.org/english_language_arts/standards_and_shifts/instructional_shifts.aspx
(1) Regular practice with complex text and its academic language.
(2) Reading, writing, and speaking grounded in evidence from text, both literary and informational.
(3) Building knowledge through content-rich nonfiction.
Framework Layout
Each framework is divided into three columns: (1) TN State Social Studies Standards, (2) Guiding Questions & Vocabulary, (3) Suggested
Instructional Activities
& Resources and at the end you can find a few Literacy Lessons and Activities that serve as supplementary resources when planning lessons.
Additionally, this framework includes the following:
1. The Common Core English Language Arts Standards for History/Social Studies can be found at: http://www.corestandards.org/ELALiteracy/RH/introduction/
2. Suggested Primary Source Documents and Supporting Texts are included in the Tennessee State Social Studies standards at:
http://tn.gov/education/article/social-studies-standards
3. “A Word About Vocabulary Instruction” provides tips and strategies for meaningful vocabulary instruction for Tier 2 and Tier 3 words.
Using the Social Studies Curriculum Framework



The pacing guide suggests time frames for instruction, are flexible, and may vary from classroom to classroom.
The TN State Standards are at the helm of teaching and learning and must be used to guide the lesson.(column 1)
The guiding questions are used to gain student interest in learning and can be written on the board for the class to reference.(column 2)
Shelby County Schools 2015-2016
Page 1 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox
Curriculum Framework




Quarter 2
Economics
Key content and academic vocabulary are listed (column 2). To teach content, varied and rigorous instructional activities and resources are included in
this framework to support quality Social Studies lessons.
Lessons, activities and student tasks are in the third column which lists the textbook pages (if applicable) along with links to valuable resources.
At the end of each map, there are Literacy Activities, suggested lessons, and additional resources.
If hyperlinks in this document are not active due to digital translation issues, the user should copy and paste the link into the address bar of a web
browser such as Google Chrome or Mozilla Firefox.
Literacy in Social Studies http://www.tncore.org/literacy_in_social_studies.aspx
The Tennessee State Standards for English Language Arts include a subset of literacy standards for teachers of history/social studies, science, and
technical subjects. These literacy standards do not change the subject-area content, which will continue to be governed by Tennessee standards for
each subject. Rather, the literacy standards provide expectations for how students will read and write in those courses. By incorporating more
reading of complex informational text, holding students accountable to that reading through text-based discussion and giving students text-based
argumentative and expository writing assignments, teachers will do the following:
 Support school-wide literacy efforts;
 Help prepare students for the literacy demands they will face in college and career, including the specialized reading and writing procedures
of the relevant discipline; and
 Reinforce students’ learning of subject-area content.
Shelby County Schools 2015-2016
Page 2 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox
Curriculum Framework
Quarter 2
Economics
WIDA
WIDA English Language Development (ELD) standards and example Model Performance Indicator (MPI) strands appear within this document to provide teachers with
appropriate scaffolding examples for ELLs and struggling readers. Strands of MPIs related to the domain of Reading are provided and linked to the corresponding set of
CCR standards. By referencing the provided MPIs and those MPIs within the given links, teachers have access to “I can” statements that are appropriately leveled for ELLs
(and struggling readers) in their classrooms. Additionally, MPIs can be referenced for designing new and/or modifying existing assessments.
WIDA Can Do Name charts may be located here: http://shelbycountyesl.weebly.com/wida.html (password: SCS-ESL) -
WIDA
https://www.wida.us/standards/ELP_standardlookup.aspx
Below is a sample of modifications provided on the WIDA site, feel free to search WIDA for other examples.
Example: Listening 9-12
Supply and Demand
Entering:
Identify resources or products in
supply or demand on maps or
graphs from oral statements.
Example: Listening 9-12
Global Economy
Entering:
Identify products related to
economic trends of regions or
countries from oral statements,
maps and charts (e.g., Oil is
part of the world's economy.
Find countries with oil.)
Beginning:
Indicate availability of
resources or products in graphs
or maps from oral statements.
Developing:
Compare resources or products
in supply or demand from maps
or graphs and oral statements.
Expanding:
Analyze oral scenarios
related to resources or
products in supply or
demand from maps or
graphs.
Bridging:
Interpret cause and effect of
resources or products in
supply or demand from oral
discourse.
Beginning:
Match regions or countries with
similar economic trends from
oral descriptions, maps and
charts.
Developing:
Find examples of regions or
countries that have similar
economic trends from
descriptive oral scenarios,
maps and charts.
Expanding:
Compare/contrast the
economic trends of regions
or countries from oral
discourse, maps and charts.
Bridging:
Evaluate impact of economic
trends on regions or
countries from oral reading of
grade level material.
Shelby County Schools 2015-2016
Page 3 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox
Curriculum Framework
Quarter 2
Economics
A Word About Vocabulary Instruction
Effective Tier 2 academic vocabulary development necessitates daily direct and explicit instruction in vocabulary that includes systematic practice, review, and
deep processing. Teachers must immerse students in word-rich environments, while teaching and modeling word learning strategies.
In all content areas, academic vocabulary instruction must be cumulative, and the terms should be integrated into increasingly complex tasks. In language arts,
more time should be spent on instruction about the nuance of the word, its origin, root, and/or affixes. Additionally, language arts teachers should use word work
strategies such as parts of speech, semantic word webs, and other evidence-based vocabulary practice. The second column will include words from the unit, other
examples of the affixes. Connections to Language Standards can also be found under the “Morpheme” references in the second column when applicable.
Common Core State Standards: Focus on Tier 2 & Tier 3 Vocabulary

Tier 1 Basic words commonly appear in spoken language. Because they are heard frequently in numerous contexts and with nonverbal communication, Tier 1
words rarely require explicit instruction. Examples of Tier 1 words are clock, baby, happy and walk.

Tier 2 High frequency words are used by mature language users across several content areas. Because of their lack of redundancy in oral language, Tier 2
words present challenges to students who primarily meet them in print. Examples of Tier 2 words are obvious, complex, establish and verify.

Tier 3 Words are not frequently used except in specific content areas or domains. Tier 3 words are central to building knowledge and conceptual
understanding within the various academic domains and should be integral to instruction of content. Medical, legal, biology and mathematics terms are all
examples of these words.
Explicit instruction of the Tier 2 academic words is required in order for students to know and use the words accurately in reading, writing, and speaking. Multiple
exposures and practice are key characteristics of effective vocabulary instruction. Teachers are expected to use evidence-based vocabulary strategies, such as
those found in the SCS curriculum maps.
Links to Support Vocabulary Instruction & Development
http://www.sde.idaho.gov/site/social_studies/docs/core/Visual%20Evidence.pdf
http://www.learningunlimitedllc.com/2013/07/5-steps-vocabulary-instruction/
https://wvde.state.wv.us/strategybank/VocabularyStrategies.html
https://wvde.state.wv.us/strategybank/VocabularyGraphicOrganizers.html
http://soltreemrls3.s3-website-us-west-2.amazonaws.com/marzanoresearch.com/media/documents/List-of-Tier-2-and-Tier-3-Terms-for-ELA-and-Math.pdf
Shelby County Schools 2015-2016
Page 4 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox
Curriculum Framework
Quarter 2
Economics
Economics
Pacing Guide
Time
Quarter 1
Weeks 1-3.5
Scarcity and Economic Reasoning
Weeks 3.5-7
Supply and Demand
Weeks 8-9
Market Structures
Time
Quarter 2
Weeks 1-2
National Economic Performance
Weeks 3-5.5
Money and the Role of Financial Institutions
Weeks 5.5-7
The Role of Government
Weeks 8-9
Trade
* Please note that these time frames are suggested/estimated times. Actual class instruction may vary due to schedule complications, remediation
efforts or other factors
Shelby County Schools 2015-2016
Page 5 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox
Curriculum Framework
TN State Social Studies Standards
E.43 Define aggregate supply and
demand, Gross Domestic Product (GDP),
economic growth, unemployment, and
inflation. (E)
E.44 Explain how Gross Domestic Product
(GDP), economic growth, unemployment,
and inflation are calculated. (E)
E.45 Analyze the impact of events in
United States history, such as wars and
technological developments, on business
cycles. (E, H)
E.46 Identify the different causes of
inflation, and explain who gains and losses
because of inflation. (E)
E.47 Explain that a country’s overall level
of income, employment, and prices are
determined by the individual spending and
production decisions of households, firms,
and the government. (C, E, H, P)
E.48 Illustrate and explain how the
relationship between aggregate supply and
aggregate demand is an important
determinant of the levels of unemployment
and inflation in an economy. (E)
Quarter 2
Economics
Guiding Questions &
Vocabulary Tier 2 & 3
National Economic Performance
(Weeks 1-2)
E.43, E.44 What are aggregate supply and
demand, Gross Domestic Product, economic
growth, unemployment, and inflation and how
are they calculated?
E.47, E.48 How are they utilized as economic
indicators?
E.45 How have major events in history affected
business cycles?
E.46 What causes inflation and who benefits
from or loses from it?
Content Vocabulary (Tier 3)
Chapter 12
National income accounting, gross domestic
product, intermediate goods, durable goods,
non-durable goods, real GDP, gross national
product, depreciation, price level, aggregate
supply, aggregate demand,
business cycle, economic growth, contraction,
recession, stagflation, leading indicators, real
GDP per capita, capital deepening, saving rate,
technological progress
Academic Vocabulary (Tier 2)
Chapter 12
Expansion, peak, saving, depression, supply,
demand, indicators,
Content Vocabulary (Tier 3)
Instructional Activities & Resources
Textbook References:
E.43, E.44, E.45, E.46
Chapter 12:Complete Chapter 12’s Section(s), Chapter, and Document Based
Assessments
Pp. 331-333
E. 47, E. 48
Chapter 13: Complete Chapter 13’s Section(s), Chapter, and Document Based
Assessments
Pp. 357-359
Visuals:
GDP p. 308, Inflation p. 344, What is Gross Domestic Product? p. 308, What
Causes a Recession? p. 318, How Do Workers Deal With Structural
Unemployment? p. 336, What is Inflation? p.344
Suggested Activities
E.43, E44 Demonstrate aggregate supply and demand, Gross Domestic Product
(GDP), economic growth, unemployment, and inflation and how they are calculated
by creating a flip chart, graphic organizer, or brochure.
E.46 Students will identify the main theories of inflation, understand main terms
associated with inflation, and compare different theories of inflation.
http://www.econedlink.org/teacher-lesson/615
E.46 Guided Practice: SW research current causes of inflation and brainstorm
solutions to reduce inflation. A graphic organizer will be utilized.
E. 44, Student will explain the relationship between a country’s real gross domestic
product per capita and its standard of living, manipulate the units, scales, and origin
in a graph to support a given statement and analyze a graph to determine whether
Shelby County Schools 2015-2016
Page 6 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox
Curriculum Framework
TN State Social Studies Standards
Quarter 2
Guiding Questions &
Vocabulary Tier 2 & 3
Chapter 13
Fictional unemployment, structural
unemployment, globalization, seasonal
employment, cyclical unemployment,
unemployment rate, full employment,
underemployment, discouraged worker, poverty
threshold, poverty rate, income distribution,
food stamp program, Lorenz Curve, enterprise
zone, block grant, workfare, inflation, inflation
rate, hyper inflation
Academic Vocabulary (Tier 2)
Chapter 13
Employment, poverty, income, rate
(For Vocabulary Strategies- see page 4)
Economics
Instructional Activities & Resources
or not it is misleading.
http://www.econedlink.org/teacher-lesson/1217
E. 45 Write a critical review of the concepts and ideas that are the basis of the
chosen close reading about business cycles and their relationships with historical
events. The critical review will be written using the 3.5 format and it will critique the
correctness of the reading’s message and cite specific examples from texts.
http://www.econlib.org/library/Enc/BusinessCycles.html
E.43, E.44 Students will work in groups determine the gross domestic product of the
classroom. Students will add the value of each product in the class; they should also
include the services of the people involved in making their class room work. They
should also consider what final and intermediate products are.
E.43, E.44 Students will define inflation and explain the role that the quantity of
money plays in inflation rates, explain the purpose of the reserve requirement,
calculate the money multiplier and evaluate what the Federal Reserve should do to
the reserve requirement to correct inflation or recession.
Multipliers and the Mystery of the Magic Money
Shelby County Schools 2015-2016
Page 7 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox
Curriculum Framework
TN State Social Studies Standards
E.49 Explain the basic functions of money
including its role as a medium of
exchange, store of value, unit of account.
(E)
E.50 Describe the growth of income
inequality in the United States and
worldwide using the Lorenz curve and
analyze the reasons for this increasing
disparity of income. (E)
E.51 Identify the composition of the money
supply of the United States. (E)
E.52 Explain the role of banks and other
financial institutions in the economy of the
United States. (E)
E.53 Describe the organization and
functions of the Federal Reserve System
and identify the current Federal Reserve
chairperson. (E)
Quarter 2
Guiding Questions &
Vocabulary Tier 2 & 3
Economics
Instructional Activities & Resources
Money and the Role of Financial Institutions
(Weeks 3-5.5)
E.49 What are the basic functions of money
Textbook References
and where does it get its value?
E.49, E.50,E. 51
Chapter 10: Complete Chapter 10’s Section(s), Chapter, and Document Based
E.50 Is there income equality in the US?
Assessments
Pp. 273-275
E.51 What makes up the money supply in the
E.51, E. 52
US?
Chapter 11: Complete Chapter 11’s Section(s), Chapter, and Document Based
Assessments
E.52 What are the roles of banks and other
Pp. 301-303
financial institutions such as the federal reserve E. 53
in the US economy?
Chapter 16: Complete Chapter 16’s Section 1 Assessments
Pp. 424
E.53 What is the makeup of the Federal
Reserve and who is its chairperson?
Visuals: What is Money P 250, How Does the Fractional Reserve system Work
P266, What are Capital Gains? P292
Content Vocabulary (Tier 3)
Chapter 10
Suggested Activities
medium of exchange, store of value, barter,
E.50 Students will produce a written summary of how government policies can affect
currency, unit of account, commodity money,
national debt by using a benefit cost analysis.
representative money, specie, flat money, bank
run, national bank, green back, gold standard,
central bank, member bank, foreclosure, money E.53 Students will create a brochure that describes the organization of the Federal
Reserve System, explains the functions of the federal reserve System and identifies
supply, liquidity, demand deposit, money
market mutual fund, fractional reserve banking, the Federal Reserve Chairperson.
default, mortgage, credit card, interest,
principal, debit card, creditor
E. 49, E50, E.51 Students will research a government policy that causes the debt to
Academic Vocabulary (Tier 2)
Chapter 10
Money, services, value, exchange,
experiences. Default, loans, measuring, supply,
increase and present a solution to that problem.
Government Policies
http://www.econedlink.org/lessons/economic-lesson-
Shelby County Schools 2015-2016
Page 8 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox
Curriculum Framework
TN State Social Studies Standards
Quarter 2
Guiding Questions &
Vocabulary Tier 2 & 3
Economics
Instructional Activities & Resources
fund, deposit
search.php?type=educator&gid=4
Content Vocabulary (Tier 3)
Chapter 11
Investment, financial system, financial asset,
financial intermediary, mutual fund, hedge fund,
diversification, prospectus, coupon rate, par
value, savings bond, inflation-indexed bond,
municipal bond, corporate bond, junk bond,
capital market, money market, primary market,
secondary market, capital gain, capital loss,
stock split, stockbroker, brokerage firm, stock
exchange, call option, put option, bull market,
bear market
E. 49, E50, E.51 Students will explain how money acts as a medium of exchange,
unit of account, and store of value, list the characteristics of money, and explain that
too much money in an economy will likely lead to inflation, while too little money will
hamper trade.
Students will also identify Benjamin Franklin’s key understandings about money in
the colonial economy.
Benjamin Franklin and the Birth of a Paper Money Economy Lesson
https://www.philadelphiafed.org/publications/economic-education/ben-franklin-andpaper-money-economy.pdf
Academic Vocabulary (Tier 2)
Chapter 11
Return, portfolio, benefits, saving, income,
finance, maturity, yield, share, option, futures,
speculation
Content Vocabulary (Tier 3)
Chapter 16 Section 1
monetary policy, reserves, reserve
requirements
Academic Vocabulary (Tier 2)
Chapter 16
System, policy, reform, contribute
(For Vocabulary Strategies- see page 4)
Shelby County Schools 2015-2016
Page 9 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox
Curriculum Framework
TN State Social Studies Standards
E.33 Explain how government responds to
perceived social needs by providing public
goods and services. (E, P)
E.34 Describe major revenue and
expenditure categories and their
respective proportions of local, state, and
federal budgets. (E, P)
E.35 Identify laws and regulations adopted
in the United States to promote
competition among firms. (E, H, P)
E.36 Describe the characteristics of natural
monopolies and the purposes of
government regulation of these
monopolies, such as utilities. (E, P)
E.37 Define progressive, proportional, and
regressive taxation. (E, H, P)
E.38 Use appropriate informational text to
analyze costs and benefits of government
policies (Social Security, Medicare, Earned
Income credits) and cite evidence from
multiple sources to argue for or against
one example of such a government policy
or program. (E, H, P)
E.39 Research textual evidence in diverse
formats to write a problem-solution piece
recommending a course of action in regard
to the national debt. (E, P)
E.40 Define and explain fiscal and
Quarter 2
Guiding Questions &
Vocabulary Tier 2 & 3
Economics
Instructional Activities & Resources
The Role of Government
(Weeks 5.5-7)
Textbook References
E.33 What are public goods and services and
E. 33, E.34, E. 35,
why do we need them?
Chapter 14: Complete Chapter 14’s Section(s), Chapter, and Document Based
E.34 What are the components of government
Assessments
budgets?(E34)
Pp. 387-389
E.37 What are the three forms of income tax?
E. 36, E. 37, E. 38, E. 39, E. 40
E.38, E.39 What laws has the government put
Chapter 15: Complete Chapter 15’s Section(s), Chapter, and Document Based
in place to increase competition and prevent
Assessments
the formation of oligopolies monopolies or
Pp. 415-417
regulate natural monopolies and why?
E. 40, E.41, E.42
Chapter 16: Complete Chapter 16’s Section(s), Chapter, and Document Based
E.38, E.39 How do the costs and benefits of
Assessments
government policies and programs add to or
Pp. 441-443
detract from the national debt?
E. 40 What are fiscal and monetary policies and
Visuals:
what are the differences between the two?
The Fed and You P427, Monetary Policy P420, Fiscal Policy P393, Progressive
E. 42 How are fiscal policy and monetary policy Taxes P385, The Impact of Taxes P405, Paying For Our Schools P384,
used to promote price stability, full employment
and economic growth?
Suggested Activities
Content Vocabulary (Tier3)
Chapter 14 sections 2-3
tax return, taxable income, personal exemption,
tax credit, estate tax, gift tax, tariff, progressive
tax, proportional tax, regressive tax, fiscal
policy, income redistribution, tariff, monetary
policy, interest rate, money supply, price
stability, economic growth, national debt,
national deficit, mandatory spending,
discretionary spending, entitlement
E. 36 Students will demonstrate the basic characteristics of monopoly, oligopoly,
monopolistic competition, and pure competition using a graphic organizer.
E.33 Students will write an expository essay explaining why the government
supplies public goods and services.
E. 36 Students will describe natural, monopolies and explain why they are regulated
by the government.
E.36 Students will define market, monopoly, entrepreneur, natural monopoly, and
profit. Students will also examine the rise of monopolies in the United States and
Shelby County Schools 2015-2016
Page 10 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox
Curriculum Framework
TN State Social Studies Standards
monetary policy and the various schools of
thought including Keynesian, Supplysiders, and Monetarists on how, when and
if these policies should be used to stabilize
the economy. (E, P)
E.41 Analyze how the government uses
taxing and spending decisions (fiscal
policy) to promote price stability, full
employment, and economic growth. (E, P)
E.42 Analyze how the Federal Reserve
uses monetary tools to promote price
stability, full employment, and economic
growth. (E, P)
Quarter 2
Guiding Questions &
Vocabulary Tier 2 & 3
Academic Vocabulary (Tier 2)
Chapter 14 Sections 2-3
Tax, withholding, policy, debt, spending
Content Vocabulary (Tier 3)
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-size economics,
budget surplus, budget deficit, Treasury bill,
Treasury note, Treasury bond, national debt,
crowding-out effect
Academic Vocabulary (Tier 2)
Chapter 15
Policy, budget, expenses, proposals, estimates,
revenue, leeway, shortage, labor
Content Vocabulary (Tier3)
Chapter 16 sections 2-3
Check clearing, bank holding company,
discount rate, money creation, required reserve
ration, money multiplier formula, excess
reserves, prime rate, open market operations
Economics
Instructional Activities & Resources
analyze the effect of monopolies in the U.S. economy.
History of monopolies in the United States
http://www.econedlink.org/teacher-lesson/628
E.41 Students will identify basic facts about how income taxes work and know how
to navigate useful websites that contain income tax information.
Tax Time Scavenger Hunt:
http://www.econedlink.org/teacher-lesson/748
E.41 Students will i identify the major spending categories for the federal
government, identify how changes in federal spending affect budget deficits, and
recognize the tradeoffs involved in spending on government programs.
National Budget Simulation
http://www.econedlink.org/teacher-lesson/306
E. 36, E. 40, E. 42 The students will explain the meaning of the March 20, 2013,
Federal Open Market Committee decision concerning the target for the federal
funds rate; identify the current monetary policy goals of the Federal Reserve and the
factors that have recently influenced monetary policy goals. The students will also
explain the structure and functions of the Federal Reserve System, Federal Reserve
Banks, and the Federal Open Market Committee and identify the monetary policy
options and other tools available to the Federal Reserve to stimulate or contract the
economy.
Focus on Economic Data: The Federal Reserve and Monetary Policy, March 20,
2013
http://www.econedlink.org/teacher-lesson/1152
Academic Vocabulary (Tier 2)
Chapter 16 Sections 2-3
Shelby County Schools 2015-2016
Page 11 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox
Curriculum Framework
TN State Social Studies Standards
Quarter 2
Guiding Questions &
Vocabulary Tier 2 & 3
Economics
Instructional Activities & Resources
discount, rate, serve, regulate, system, supply,
practices
(For Vocabulary Strategies- see page 4)
E.54 Examine evidence in informational
texts to explain the benefits of trade
among individuals, regions, and countries.
(E, G)
E.55 Define and distinguish between
absolute and comparative advantage and
explain how most trade occurs because of
a comparative advantage in the production
of a particular good or service. (E, G)
E.56 Define trade barriers, such as quotas
and tariffs. (E, G)
E.57 Explain why countries sometimes
erect barriers to trade such as quotas and
tariffs, or through subsides to domestic
producers and the consequences of those
trade barriers and subsidies on consumers
and producers. (E, G, H)
E.58 Explain the difference between
balance of trade and balance of payments.
(E, G)
E.59 Compare and contrast labor
productivity trends in the United States and
other developed countries. (E, G)
E.60 Explain how changes in exchange
Trade
(Weeks 8-9)
Textbook References
E.54, E.55 Why does trade exist?
E.54, E.55, E.56, E.57, E. 58
E.61 What are barriers to trade and free trade?
Chapter 17: Complete Chapter 17’s Section(s), Chapter, and Document Based
E.61 Why does each exist?
Assessments
E.58 What are balance of trade and balance of Pp. 471-473
power, and the difference between the two?
E.59, E. 60, E.61
Chapter 18: Complete Chapter 18’s Section(s), Chapter, and Document Based
E.55, E.56 What causes specialization in
Assessments
production?
E.60 How do exchange rates Affect purchasing Pp. 509-511
power?
Visuals:
Fair Trade p.459, Globalization p.502, How do specialization and trade benefit
Vocabulary (Tier 3)
nations p.450, Economic Growth in Asia p.498, Per Capita GDP of Selected Nations
Chapter 17
2005 p.482, Productivity and Opportunity Cost p. 449, Resource Distribution p. 448
export, import, tariff, quota, protectionism,
barrier to trade, absolute advantage,
comparative advantage, law of comparative
advantage, import quota, sanctions, free trade,
free trade zone, infant industry, embargo,
protectionism, globalization, offshoring,
exchange rate, appreciation, depreciation, fixed
exchange rate system, flexible exchange-rate
system, international trade, balance of trade,
trade surplus, trade deficit, balance of
payments
Suggested Activities
E. 55 Students will read the article and summarize how different resources have
different values and different opportunity costs in different regions of the world.
http://www.econlib.org/library/Topics/Details/comparativeadvantage.html
E. 58 Students will discuss technology change and how it affects trade (oral or
written) and present their findings.
E. 54, E. 55, E.56, E.57, E.58 Students will write a critical review of the concepts
and ideas that are the basis of the chosen close reading about trade and
Shelby County Schools 2015-2016
Page 12 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox
Curriculum Framework
TN State Social Studies Standards
rates impact the purchasing power of
people in the United States and other
countries. (E, G)
E.61 Cite evidence from appropriate
informational text to evaluate the
arguments for and against free trade. (E,
H, G)
Quarter 2
Guiding Questions &
Vocabulary Tier 2 & 3
Academic Vocabulary (Tier 2)
Chapter 17
trade, balance, barrier, flexible, rate, exchange,
system,
Content Vocabulary (Tier 3)
Chapter 18
Developed nation, less developed country,
newly industrialized country, per capita GDP,
industrialization, literacy rate, life expectancy,
subsistence agriculture, population growth rate,
malnutrition, internal financing, foreign
investment, foreign direct investment, foreign
portfolio investment, debt, rescheduling,
stabilization program, nongovernmental
organization, privatization, special economic
zone, globalization, offshoring, remittances,
“brain dead”, sustainable development,
deforestation.
Academic Vocabulary (Tier 2)
Chapter 18
development, rate, growth, foreign, zone,
benefits, resources, migration
(For Vocabulary Strategies- see page 4)
Economics
Instructional Activities & Resources
specialization. The critical review will be written using the 3.5 format and it will
critique the correctness reading’s message.
E. 54, E. 55, E.56, E.57, E.58 Students will explain why countries that trade freely
with each other are better off than countries that restrict international trade, discuss
the advantages of specialization, and explain comparative advantage.
Trade Creates More and Better Jobs
http://www.econedlink.org/teacher-lesson/575
E.59 Students will define market economies, command economies, and developing
economies. Students will also compare one country with another by reference to
factors associated with economic performance.
http://www.econedlink.org/teacher-lesson/322
E. 56 The students will explain the role and effect of NAFTA in the United States
and Mexican Economies and explain the purpose of tariffs, quotas and subsidies
Trade in Colonial America/NAFTA
http://www.econedlink.org/teacher-lesson/567
Connection to Language Standards
Greek & Latin Roots and Affixes
-tion, -ion – state of being; quality; act
Examples from the unit: industrialization,
malnutrition, appreciation, depreciation,
Shelby County Schools 2015-2016
Page 13 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox
Curriculum Framework
TN State Social Studies Standards
Quarter 2
Guiding Questions &
Vocabulary Tier 2 & 3
stabilization, organization, globalization,
deforestation
Other examples: concession, transition, action,
invitation
Language Standards
L.11-12.6
Acquire and use accurately general academic
and domain-specific words and phrases,
sufficient for reading, writing, speaking, and
listening at the college and career readiness
level; demonstrate independence in gathering
vocabulary knowledge when considering a
word or phrase important to comprehension or
expression.
Economics
Instructional Activities & Resources
Connection to Language Standards
http://www.cognatarium.com/cognatarium/
L.11-12.4b
Identify and correctly use patterns of word
changes that indicate different meanings or
parts of speech (e.g., conceive, conception,
conceivable).
Shelby County Schools 2015-2016
Page 14 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox
Curriculum Framework
TN State Social Studies Standards
Quarter 2
Guiding Questions &
Vocabulary Tier 2 & 3
Economics
Instructional Activities & Resources
Literacy Lessons and Activities/Sample Tasks & Lessons
RH.11-12.1
Cite specific textual evidence to support analysis of
primary and secondary sources, connecting
insights gained from specific details to an
understanding of the text as a whole.
RH 11-12.2
Determine the central ideas or information of a
primary or secondary source; provide an accurate
summary that makes clear the relationships among
the key details and ideas.
Using a world map graphic organizer, students will
add population, average income and GDP
demographics for select nations. In groups, SW
develop a plan that will increase the standard of
living for overpopulated and developing nations
and present that plan to the class.
In groups, students will develop a business plan for a
globally produced product. This plan will include and
explain the choice for the product, the global location,
the source of funding, etc. Students will discuss
specialization and trade as well as barriers to trade in
their business plan.
RH.11-12.9
Integrate information from diverse sources, both primary and
secondary, into a coherent understanding of an idea or event, noting
discrepancies among sources.
Create a display that lists the various government agencies that
control the production of goods and services. The display should
contain explanations of each agencies responsibilities and visuals to
add interest. The display will contain at least 15 agencies with
complete explanations of purpose and citations from texts.
Shelby County Schools 2015-2016
Page 15 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox
Curriculum Framework
Quarter 2
Economics
Additional Resources
Economic Close Reads and Lesson Plans:
http://www.econedlink.org/lessons/economic-lesson-search.php?type=educator&gid=4
Focus on Economic Data: U.S. Real GDP Growth, February 28, 2013
Focus on Economic Data: Consumer Price Index and Inflation, March, 2013
Economic Indicators
The Unemployment Game
Everyday Economics: Money, Banking and Monetary Policy
Fed Centennial Lessons Combined
Fed Chairman Game
Federal Reserve Structure and Functions
Comparative Economic Systems
http://www.econedlink.org/teacher-lesson/322
Comparative Economic Systems
http://www.econedlink.org/teacher-lesson/322
Where Did All the Money Go?
http://www.econedlink.org/teacher-lesson/558
The Economics of the New Deal
http://www.econedlink.org/teacher-lesson/459
Lesson Plans and More on Federal Services and Practices:
http://www.federalreserveeducation.org/
Market Basket
Page One Economics: What Are the Ingredients for Economic Growth?
Graphic Organizers
http://www.studenthandouts.com/
Shelby County Schools 2015-2016
Page 16 of 16
*Trouble with Links? Use Google Chrome or Mozilla Firefox