Summary of Ga. Council on Economic Education Seminar February 22nd, 2011 Presented by Dr. Glen Blankenship How will the 2010-2011 CRCT be different for Social Studies??? For 6th graders: For 7th graders: History - 29% History- 20% Geography- 31% Geography – 35% Government- 15% Government- 20% Economics- 25% Economics- 25% GA Schools have been told to teach Social Studies this way: Kindergarten- symbols 1st grade- American Heroes 3rd grade- US Democratic Heritage 2nd grade- Your GA 4th grade- US History to 1860 5th grade- US History 1860 to present 6th grade- Modern World (Latin America, Canada, Europe, Oceania) 7th grade- Modern World (Middle East, Asia, Africa) 8th grade- Georgia History US History American Government World History 6th and 7th grade SS is the only time students get world history or economics before HS Economics 6th grade countries to focus on. Latin Geography Civics/Gov't. Economics America Bolivia x Brazil x x x Colombia x Cuba x x x Haiti x Mexico x x x Panama x Venezuela x Oceania Australia Geography Civics/Gov't. Economics Canada Canada Geography Civics/Gov't. Economics x x x x x x Europe Belgium France Germany Italy Poland Russia Spain Ukraine United Kingdom Geography Civics/Gov't. Economics x x x x x x x x x x x x x x x These are the countries 7th graders should focus on. Middle East Afghanistan Iran Iraq Israel Saudi Arabia Turkey Geography Civics/Gov't. Economics x x x x x x x x x x x x Asia China India Indonesia Japan North Korea South Korea Vietnam Africa Dem. Rep. of Congo Egypt Kenya Nigeria South Africa Sudan Geography Civics/Gov't. Economics x x x x x x x x x x x Geography Civics/Gov't. Economics x x x x x x x x x x x x x x x There are only 3 Economic Topics to know in 6th and 7th grades !!! Economic Systems Trade Traditional What is it? Command Why have it? Market (free market) What restrictions are there on it? How has trade affected our world? How does it affect us now? Economic Growth How do we measure it? (GDP) What slows it down? (environ. Issues, war, etc…) How do you promote economic growth? (human capital and capital goods/tools) There are major Economics vocabulary words and terms that 6th and 7th graders should know. Capital Resource Command Economy Human Resource Natural Resource Traditional Economy Tariff Gross Domestic Product Globalization Export Barriers Income Surplus Deficit Currency Embargo Market Economy Trade Opportunity Cost Import Per Capita Exchange Rate Quota Specialization Scarcity Interdependence Productivity Supply/Demand Market Trade Balance Entrepreneurship WHAT IS ECONOMICS??? “Because, apparently, you have to know a lot about it.” ECONOMICS (teacher talk) – making decisions about allocating limited resources in order to acquire our unlimited wants ECONOMICS (student talk) – There’s only so much stuff out there. Deciding who gets what, when, where, how and how much is what economics is all about. Globalization??? Globalization refers to increases in how different national economies (from different countries) work together. Used to describe all of the ways national economies are connected internationally -Like the buying and selling of goods, services and ideas between different nations. -How international travel has allowed for people and resources ,used to produce goods and services, to be moved faster and more efficiently between countries. -How governments have worked to create policies to maximize (or slow down) international trade cooperation and the sharing of ideas between countries. What does OPPORTUNITY COSTS mean? When you choose to do something, you give up doing something else. Most of us have a scarcity of time, money or resources. Yet, we choose to do things everyday. OPPORTUNITY COSTS are the next best alternative that’s available, when you make a decision. In student talk, its your 2nd choice. Your time is limited. You chose to use it, by improving your education (that’s human capital, by the way). You came to school today. Or, you could have stayed home and eaten ice cream. You didn’t though…..that’s your opportunity costs