Course Title
Fall/Spring Semester | |||||
Unit Title | Thinking Like an Economist | Business Principles | Employment | Managing Finances | Savings and Investments |
Time | 2 weeks | 3 weeks | 3 weeks | 6 weeks | 2 weeks |
Understandings | The basic questions of economics centers around the idea of scarcity of resources, particularly with the factors of production: Land, Labor, Capital, Entrepreneurship.
Economists represent the economy’s ability to operate efficiently using a Production Possibilities Curve which helps calculate opportunity costs.
Capitalist systems such as the United States operate using a circular flow model where income from businesses and consumers flow through the system and allow both parts to continue to grow. | Economies are often driven by the laws of supply and demand with higher demand causing higher prices for consumers while lower demand will cause lower prices.
There are multiple economic market systems, the most common being market and command economies
The Federal Reserve manages the US economic policies related to monetary policy as well as oversees the banking system as a means of controlling the money supply. | Once citizens finish school, they have the option to pursue a vocational career or explore more education at the post-secondary level, each with their own pros and cons.
As employees, citizens are responsible for paying taxes or ensuring the proper amount is withheld by their employer as well as finding an employer with benefits that meet their individual needs.
| Personal budgeting and planning are critical aspects for consumers, especially in regards to preparing for larger purchases such as a home or car.
Understanding credit and loans are a key aspect of long-term financial success and stability.
| Investments can be risky when not properly understood and without proper advice and consultation from experts in the financial field, but understanding these basics can help prepare investors for long-term success.
Planning for disaster is a critical and often forgotten part of financial success and stability. |
TEKS | USE.1A, USE.1B, USE.1C, USE.1D, USE.2C, USE.2D | USE.1E, USE.1F, USE.1G, USE.1H, USE.2E, USE.2F, USE.2G, USE.5A, USE.5B, USE.5C, USE.5D, USE.5E, USE.5F, USE.10A | USE.2A, USE.2B, USE.3A, USE.3B, USE.3C, USE.3D, USE.3E, USE.3F, USE.4A, USE.4B, USE.4C, USE.4D, USE.9B, USE.9C, USE.9D, USE.9E | USE.6A, USE.6B, USE.6C, USE.6D, USE.6E, USE.6F, USE.6H, USE.7A, USE.7B, USE.7C, USE.7D, USE.7E, USE.7F, USE.7H, USE.9F, USE.9G, USE.9H, USE.9J | USE.4A, USE.7G, USE.8A, USE.8B, USE.8C, USE.8D, USE.8E, USE.8F, USE.8G, USE.8H, USE.9A, USE.9I, USE.9K, USE.10A,USE.10B, USE.10C |
Skills TEKS | |||||