Social Studies Curriculum Map
Part 1/Quarter 1
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.
In order to achieve these ambitious goals, we must collectively work to provide our students with high-quality, College and Career Ready standards-aligned
instruction. Acknowledging the need to develop competence in literacy and language as the foundations for all learning, Shelby County Schools developed the
Comprehensive Literacy Improvement Plan (CLIP). The plan ensures a quality balanced literacy approach to instruction that results in high levels of literacy
learning for all students and across content areas. Destination 2025, the Comprehensive Literacy Improvement Plan, and TN State Standards establish common
goals and expectations for student learning across schools and are the underpinning for the development of the curriculum frameworks/maps.
Purpose - This curriculum framework or map is meant to help teachers and their support providers (e.g., coaches, leaders) on their path to effective, college and
career ready (CCR) aligned instruction and our pursuit of Destination 2025. It is a resource for organizing instruction around the TN State Standards, which define
what to teach and what students need to learn at each grade level. The framework is designed to reinforce the grade/course-specific standards and content—the
major work of the grade (scope)—and provides a suggested sequencing and pacing and time frames, aligned resources—including complex texts, sample
questions and tasks, and other planning tools. Our hope is that by curating and organizing a variety of standards-aligned resources, teachers will be able to spend
less time wondering what to teach and searching for quality materials (though they may both select from and/or supplement those included here) and have more
time to plan, teach, assess, and reflect with colleagues to continuously improve practice and best meet the needs of their students.
The map is meant to support effective planning and instruction to rigorous standards; it is not meant to replace teacher planning or prescribe pacing or instructional
practice. In fact, our goal is not to merely “cover the curriculum,” but rather to “uncover” it by developing students’ deep understanding of the content and mastery
of the standards. Teachers who are knowledgeable about and intentionally align the learning target (standards and objectives), topic, text(s), task, topic, and
needs (and assessment) of the learners are best-positioned to make decisions about how to support student learning toward such mastery. Teachers are therefore
expected--with the support of their colleagues, coaches, leaders, and other support providers--to exercise their professional judgement aligned to our shared vision
of effective instruction, the Teacher Effectiveness Measure (TEM) and related best practices. However, while the framework allows for flexibility and encourages
each teacher/teacher team to make it their own, our expectations for student learning are non-negotiable. We must ensure all of our children have access to
rigor—high-quality teaching and learning to grade level specific standards, including purposeful support of literacy and language learning across the content areas.
It is essential for students to strategically leverage their literacy skills to comprehend informational texts and explicitly demonstrate competence in thinking,
reading, writing, and communicating.
Integration of literacy skills is critical for student success in post-secondary education and to prepare students, teachers must regularly engage students with:
(1) Regular practice with complex text and vocabulary.
(2) Reading, writing, and speaking grounded in evidence from texts.
(3) Using literacy skills to gain knowledge and demonstrate competence in rigorous activities and tasks.
Effective Social Studies instruction should model and teach students to effectively manage and analyze information using literacy skills and strategies. This
requires consistent demonstration and practice of how to use literacy skills with Social Studies content. (An example of an effective daily lesson agenda appears at
the end of this document.) Document–Based Questions (DBQs) and Text Dependent Questions (TDQs) are included in the suggested activities throughout this
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Economics
document. “Best Practice” requires student to regularly engage with challenging texts and requires students to substantiate their answers using evidence taken
from the text/passage.
“The implementation of Common Core State Standards is a full-school endeavor, not just a project for math and ELA teachers. The Common Core State
Standards, in addition to the English Language Arts (ELA) Standards, includes Literacy (reading and writing) standards for the “specialized disciplines” of history,
social studies, science, and technical subjects for grades 6-12. Teachers of all grades and subjects can integrate math and literacy skills and activities into their
disciplines in order to harness the power of the Common Core to improve student learning across the board.”
Source: TNCore
http://www.tncurriculumcenter.org/social_studies
To support literacy and language learning across the content areas and support deeper knowledge building in the content area, throughout this curriculum map,
you will see high-quality texts from both the textbook(s) and external/supplemental texts to ensure students are reading appropriately complex, worthwhile
material. These texts have been evaluated by district staff to ensure that they meet criteria for text complexity--Quantitative, Qualitative, and Reader & Task
Factors. Lexile Levels are listed on the Curriculum Maps, and additional information is cited, where available.
Key
ATOS: ATOS (Renaissance Learning); DRP: Degrees of Reading Power (Questar); FK: Flesch Kincaid (public domain, no mass analyzer tool available); Lexile: Lexile Framework
(MetaMetrics); SR: Source Rater (ETS); RM: Pearson Reading Maturity Metric (Pearson Education)
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Economics
Note:
What is a DBQ/TDQ?
Document-Based Questions (DBQs) and Text-Dependent Questions (TDQs) are for all students, from elementary school through high school. They are a type of
authentic assessment and a way for students to interact with historical records and information.
DBQS/TDQs, may not only be in the form of an actual question, but rather in the form of tasks or activities that requires students to read, analyze, gather
information, complete scaffolding responses, assimilate or synthesize information from the listed resources, text or documents.
Throughout this map, the suggested activities are designed to help students gain strength in content knowledge and to provide opportunities at high levels of
thinking as they develop life skills.
*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.
Framework Contents:
Introduction – Purpose, Vision, Best Practices for Instruction and using the framework to plan effective units and lessons. (Note: Effective lesson planning is
intentionally situated in larger themes/units to better develop students conceptual understanding and development of mastery of standards over time.)
WIDA – Instructional modifications for ESL—in English as a Second Language classrooms, in all classrooms with English language learners, and as needed to
support any student with limited language development and/or non-standard English
Vocabulary – Instructional suggestions to support both explicit vocabulary instruction and reinforce incidental learning.
Pacing Guide – A recommended scope, sequence, and pacing of content, including “Big Ideas.”
Anchor Texts-Topic-specific complex texts, with Lexile levels indicated as available (Note: Teachers should carefully review texts to understand and plan for the
demands/challenges learners might be expect to face, deliberately model specific literacy skills—including reading fluency, leverage student annotations, and
carefully sequence text-dependent questions leading to higher order thinking.
TN State Recommended Readings/Texts/Passages – Readings recommended by the State.
State Standards - Tennessee State Social Studies Standards.
Big Ideas, Guiding Questions – Suggestions for lesson focus.
Vocabulary – Content Vocabulary (Tier 3) words/concepts that appear in Social Studies Domain and are important to student understanding, Academic Vocabulary
(Tier 2), high-leverage words that appear across content domains.
Lesson Activities – Suggestions for use in planning lessons w/ literacy connections. (Coded in green)
Resources – Links to additional resource
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Economics
Using the WIDA MPIs
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 can craft "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 Examples for Economics
Modified tasks
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: 9-12
Supply and Demand
Entering:
Identify resources or products in
supply or demand on maps or graphs
from oral statements.
Example: 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.
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Common Core State Standards: Focus on Vocabulary
Effective vocabulary development occurs both incidentally and through explicit instruction. It requires daily immersion in word-rich environments, while teaching and modeling word learning
strategies—from the use of context clues and concept maps (to connect related ideas) to understanding the nuance of words: origin, root, and/or affixes. In all content areas, terms should be
integrated into tasks and reinforced over time and across contexts.
Basic Vocabulary (Tier 1) - Words that commonly appear in spoken language and are heard frequently in numerous contexts. (Ex: write, read, build)
Academic Vocabulary (Tier 2) - High frequency words used by mature language users across several content areas. Tier 2 words present challenges to students who primarily meet them in print.
(Ex: composed, apply, establish)
Content Vocabulary (Tier 3) - Words that are not frequently used except in specific content areas. Tier 3 words are central to building knowledge and conceptual understanding within the various
academic domains and are integral to content. (Ex: reformation, legislation, medieval, and Socialism)
Explicit instruction of the Tier 2 academic words (typically in the context of the text and not necessarily through pre-teaching) is required in order for students to know and use the words accurately,
per the Suggested Activities (3rd column). Multiple exposures and practice using these words are key characteristics of effective vocabulary instruction.
Teaching Vocabulary for Mastery…
1. Post the words in your classroom noting their syllabicated forms (ex: Pa-le-on–tol-o-gy) to aid struggling readers.
2. Provide a student-friendly definition of the word.
3. Suggest synonyms or antonyms for the word.
4. Put the new word into a context or connect it to a known concept, morpheme, or root.
5. Use the new word on multiple occasions and in multiple contexts (e.g., sentence starters, games, student writing).
6. Whenever you say the word, run your hand or a pointer under the syllables of the word as you pronounce it, quickly cueing struggling readers to associate your spoken word with the written
word on the wall.
7. Use the new words in context of the lesson.
8. Ask questions that contain the new word; so, students must process its meaning in multiple ways.
9. Add the new word to an already existing classroom concept map, or construct a new concept map using the new word as the foundational concept.
10. Expect pairs of students to construct semantic word maps for new vocabulary.
11. Give students extra credit points for hearing or seeing content vocabulary in other contexts.
References
McEwan, E.K. (2007).40 Ways to Support Struggling Readers in Content Classrooms, Grades 6-12. Thousand Oaks, CA: Corwin Press. Reprinted with permission from Corwin Press.

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.
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Social Studies Curriculum Map
Part 1/Quarter 1
Economics
Economics Topics & Ideas
Suggested
Time
Weeks 1-3.5
Weeks 3.5-7
Weeks 8-9
Suggested
Time
Weeks 1-2
Weeks 3-5.5
Weeks 5.5-7
Weeks 8-9
Quarter 1
Scarcity and Economic Reasoning
Big Ideas: Productive Resources Abound, The Costs of Production,
Supply and Demand
Big Ideas: The Law of Supply; the Law of Demand
Market Structures
Big Ideas: Perfect Competition at its Best!
Quarter 2
National Economic
Big Ideas: Can Businesses and Labor both be right?
Money and the Role of Financial Institutions
Big Ideas: Making the most out of your money
The Role of Government
Big Ideas: How safe if your money? How well do financial institutions serve
our needs? Savings and Investment choices.
Trade
Big Ideas: Free Trade or Not? What are the costs of economic development?
* Please note that these time-frames are suggested/estimated times. Actual class instruction may vary due to schedule complications, remediation efforts or other factors
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Part 1/Quarter 1
Economics
Scarcity and Economic Reasoning
Weeks 1-3.5
Textbook/Anchor Text: Prentice Hall ECONOMICS (1340L)
TN State Recommendation: The United States Constitution (Lexile 1540L)
TN State Social Studies Standards
Big Ideas, Guiding Questions &Vocabulary
E.1 Define each of the productive
resources (natural, human, capital) and
explain why they are necessary for the
production of goods and services.
Productive Resources Abound
E.1 What are the three basic economic
productive resources?
E.1 Why are natural, human, and capital
productive resources necessary for the
production of goods and services?
Suggested Activities & Resources
Textbook References:
Chapter 1:Complete Chapter 1’s Section(s), Chapter, and DBQs Assessments pp.
19-21
Literacy RH.11-12.6
Visuals: What Does an Entrepreneur Do? pp. 4-5, Water Wars? pp. 6, Trade-Offs
pp. 9, What is Opportunity Cost? p. 10, Production Possibility Curve p. 14, Law of
Increasing Costs p. 17
Chapter 2: Complete Chapter 2’s Section(s), Chapter, and Document Based
Assessments pp. 45-47
Literacy RH.11-12.6
Visuals: How Can Innovation Lead to Economic Growth? pp. 26-27, Circular Flow
Model of a Market Economy p. 31, , Circular Flow Model of a Mixed Economy p. 40,
Continuum of Mixed Economies p. 41, Buying and Selling in a Mixed Economy p. 43
Suggested Activities
E.1 In an essay, have students define each of the productive resources (natural,
human, capital) and explain why they are necessary for the production of goods and
services.
http://www.kidseconposters.com/posters/the-basics/productive-resources/
Literacy W.11-12.1.D
E.1 Write an explanation of the production of goods and services.
http://www.theusaonline.com/economy/production.htm and
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Economics
Textbook p.24
Literacy W.11-12.2
E.2 Explain how consumers and producers
confront the condition of scarcity, by
making choices that involve opportunity
costs and tradeoffs.
E.2 What are scarcity and choice, in economic
terms?
E.2 What is opportunity cost? Why is it
important to understand opportunity cost?
E.3 Identify and explain the broad goals of
economic policy such as freedom,
efficiency, equity, security, growth, price
stability, and full employment.
The Costs of Production
E3 What are the broad goals of economic
policy?
E.4 Describe how people respond
predictably to positive and negative
incentives.
E4 How do people respond to incentives?
E.5 Explain that voluntary exchange
occurs when all participating parties expect E.5 How is voluntary exchange significant?
to gain.
E.2 Compose essay that explains how consumers and producers confront the
condition of scarcity, by making choices that involve opportunity costs and tradeoffs.
Textbook p.512
Literacy RI.11-12.1, Literacy W.11-12.2
E.3 Write an essay that Identifies and explains the broad goals of economic policy
such as freedom, efficiency, equity, security, growth, price stability, and full
employment. Make sure that each term is thoroughly defined.
Textbook pp. 29-34
Literacy RI.11-12.1, Literacy W.11-12.2
E.4 After reading, write a short description of how people respond predictably to
positive and negative incentives. What are Incentives?
Textbook p.32
Literacy RI.11-12.1, Literacy W.11-12.2
E.5 Write an explanation of how voluntary exchange occurs. The explanation should
speak to what all participating parties expect to gain.
Textbook p. 51
Literacy RI.11-12.1, W.11-12.2.B
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E.6 Compare and contrast how the various
economic systems (traditional, market,
command, mixed) try to answer the
questions: What to produce? How to
produce it? For whom to produce?
Part 1/Quarter 1
E.6 How are decisions made about what to
produce?
E.7 Describe how clearly defined and
enforced property rights are essential to a
market economy.
E.7 How are clearly defined and enforced
property rights essential to a market economy?
E.8 Use a production possibilities curve to
explain the concepts of choice, scarcity,
opportunity cost, tradeoffs, unemployment,
productivity, and growth.
Economics
E.6 Write a compare and contrast paper that explores how the various economic
systems (traditional, market, command, mixed) try to answer the questions: What to
produce? How to produce it? For whom to produce?
Textbook pp. 109,116-22
Literacy RI.11-12.1, W.11-12.9
E.7 The productive resources are necessary for the production of goods and
services and have value due to their scarcity. Clearly defined and enforced property
rights are essential to a market economy because resources are scarce and have
value. Increased populations lead to increased scarcity and the population continues
to increase. This is one source of inflation. Students will create a presentation that
compares and contrasts the productive resources and provides five examples of
each.
Textbook pp. 51-52
Literacy RI.11-12.1.3, W.11-12.9
E.8 What is a production possibilities curve and
how is it used?
E.8 Every choice we make has an opportunity cost, or the cost of the next available
opportunity. What is the opportunity cost for skipping school? Buying a bag of
chips? Production possibilities curves can help a producer make decisions about
production by showing possible combinations of inputs utilized to produce outputs.
Imagine you only have one piece of land and cannot by another. What limits what
you can produce using that land? Producers refer to demand to find the most valued
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Economics
production choice. Students will write an explanatory piece after further researching
the topic of opportunity cost.
Textbook pp. 451-2
Literacy RH.11-12.1,7,9, W.11-12.7
E.9 Compare and contrast the theoretical
principles of the economic systems of
capitalism, socialism, and communism,
and use historical examples to provide
evidence of their effectiveness.
E9 What are the theoretical principles of the
economic systems of capitalism, socialism, and
communism?
E.9 These goals can be defined as natural rights according to
John Locke. (E.3) The U.S. Congress established three key objectives for monetary
policy in the Federal Reserve Act: Maximum employment, stable prices, and
moderate long-term interest rates. Congress works to obtain these through taxing
and spending, fiscal policy. Keeping our economy stable helps keep everyone
working and above the poverty line. Students will research this idea and compose an
explanatory writing piece to summarize their findings. (Textbook P418) Literacy
RH.11-12.1,9
E.9 After reading Comparing Economic Systems via
http://www.ushistory.org/gov/13b.asp, students will compare and contrast the
principles using historical examples to provide evidence of their effectiveness.
Literacy RH.11-12.10
E. 9 While reading pages 22-28, students will complete a concept web detailing what
goals and values affect how a society answers the three key economic questions.
Students may refer to page 23 to get a suggested starter to the assignment. Literacy
RH.11-12.7
E. 10 Examine informational text and
primary sources to analyze the major ideas
of the following economists:
E.10 What are the major ideas of the following
economists:
 Adam Smith
 Thomas Malthus
 Adam Smith
 Karl Marx
 Thomas Malthus
 John Maynard Keynes
 Karl Marx
 Friedrich Hayek
 John Maynard Keynes
 Milton Friedman
 Friedrich Hayek
E. 10 Students will analyze texts as well produce a written summary or outline of the
major ideas of the following economists: Literacy RH.11-12.4







Adam Smith: http://www.econlib.org/library/Enc/bios/Smith.html
Thomas Malthus: http://www.econlib.org/library/Enc/bios/Malthus.html
Karl Marx: http://www.econlib.org/library/Enc/bios/Marx.html
John Maynard Keynes: http://www.econlib.org/library/Enc/bios/Keynes.html
Friedrich Hayek: http://www.econlib.org/library/Enc/bios/Hayek.html
Milton Friedman: http://www.econlib.org/library/Enc/bios/Friedman.html
Ben Bernanke: http://www.britannica.com/biography/Ben-Bernanke
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
Ben Bernanke
Part 1/Quarter 1


Economics
Milton Friedman
Ben Bernanke
Suggested Independent Research Activities: Students should choose their own
sources, cite evidence, and present their work in a format of their choosing be it
graphically, essay format, or via oral presentation with visual aids.
Content Vocabulary (Tier 3):
economics, shortage entrepreneur, factors of
production, “guns and butter,” opportunity cost,
thinking at the margin, cost/benefit analysis,
marginal cost, marginal benefit, production
possibilities curve, production possibilities
frontier, underutilized, law of increasing costs,
economic system, factor payment, safety net,
standard of living, innovation, traditional
economy, market, specialization, free market
economy, factor market, product market, selfinterest, incentive, competition, invisible hand,
consumer sovereignty, centrally planned
economy, authoritarian, laissez faire, private
property, mixed economy, economic transition,
free enterprise system
Academic Vocabulary (Tier 2):
Needs, wants, goods, services, money, income,
limited, resources, business, growth, increase,
resources, goods, services, society, consume,
goals, efficiency, growth, produce, citizens,
economy
See pg. 5 for Vocabulary Instructions
E.1 Define each of the productive resources (natural, human, capital) and explain
why they are necessary for the production of goods and services. (Textbook P2)
Literacy RH.11-12.6
E.2 Explain how consumers and producers confront the condition of scarcity, by
making choices that involve opportunity costs and tradeoffs. (Textbook P3) Literacy
RH.11-12.6
E.3 Identify and explain the broad goals of economic policy such as freedom,
efficiency, equity, security, growth, price stability, and full employment. (Textbook
P334) Literacy RH.11-12.6
E.4 Describe how people respond predictably to positive and negative incentives.
(Textbook P32) Literacy RH.11-12.6
E.5 Explain that voluntary exchange occurs when all participating parties expect to
gain. (Textbook P29) Literacy RH.11-12.6
E.6 Compare and contrast how the various economic systems (traditional, market,
command, mixed) try to answer the questions: What to produce? How to produce it?
For whom to produce? (Textbook P22) Literacy RH.11-12.6
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E.7 Describe how clearly defined and enforced property rights are essential to a
market economy. (Textbook P3) Literacy RH.11-12.6
E.8 Use a production possibilities curve to explain the concepts of choice, scarcity,
opportunity cost, tradeoffs, unemployment, productivity, and growth. (Textbook P13)
Literacy RH.11-12.6
Supply and Demand
(Weeks 3.5-7)
Textbook/Anchor Texts: Prentice-Hall: ECONOMICS
TN State Recommendations: NA
TN State Social Studies Standards
Big Ideas, Guiding Questions &Vocabulary
The Law of Supply; the Law of Demand
Suggested TDQs, Activities & Resources
Textbook References
Chapter 4: Complete Chapter 4’s Section(s), Chapter, and DBQ Assessments pp.
105-107 Literacy RH.11-12.6
Visuals: What is the Law of Demand? p. 86, The Law of Demand in Action p. 87, The
Substitution Effect p. 88, Demand Schedules p. 89, Demand Curves p. 90, Graphing
Changes in Demand p. 92, Elasticity of Demand p. 98, How Does Elasticity Affect
Consumer Demand? pp. 100-101, Revenue Table p. 103, Elasticity and Revenue p.
104
E.11 Define supply and demand, and
provide relevant examples.
E.11, E.12, E.14 What is the role of suppliers
and consumers in determining supply, demand,
and the equilibrium price?
Chapter 5: Complete Chapter 11’s Section(s), Chapter, and Document Based
Assessments pp. 301-303 (Textbook P) Literacy RH.11-12.6
Visuals: What is the Law of Supply? P. 110, Supply Schedule p. 112, Supply Curves
p. 113, Marginal Product of Labor p. 117, Marginal Returns p. 117, What are the
Production Costs? pp. 118-119, Production Costs p. 120, Output and a Change in
Price p. 121, Input Costs p. 124, Shifts in the Supply Curve p. 125,
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E.11, E.12, E.14 What are supply and demand
curves and how are they used to determine the
equilibrium price?
E.12 Describe the role of buyers and
sellers in determining the equilibrium price.
E.13 Describe how prices of products as
well as interest rate and wage rates send
signals to buyers and sellers of products,
loanable funds, and labor.
E.12 -16 What causes changes to those curves
and the equilibrium price as well as quantity
demanded and quantity supplied?
Economics
While reading pages 116-122, student s will complete a chart detailing ways a
producer can maximize profits. Students may refer to page 116 to get chart topics.
Literacy RH.11-12.6
E.12 After reading the about supply and demand, students will create written supply
and demand scenarios. (Textbook P84) Literacy RH.11-12.9
E.16 Changes in supply and demand influence equilibrium price and quantity in the
in the product, resource, and financial markets by sending signals to consumers and
producers about how much to buy or sell. Students will research this process and
create a chart to demonstrate their understanding of the process. (Textbook P)
Literacy RH.11-12.2
E.14 Explain that consumers ultimately
determine what is produced in a market
economy (consumer sovereignty).
E.15 Explain the function of profit in a
market economy as an incentive for
entrepreneurs to accept the risks of
business failure.
E. 17 While reading pages 91-96, students will complete a concept web that details
the demand curve shift. Student may refer to page 91 to start the concept web.
Literacy RH.11-12.5
E.16 Demonstrate how supply and
demand determine equilibrium price and
quantity in the product, resource, and
financial markets, including drawing and
reading supply and demand curves.
E.19 People have a wide variety of opinions on the topic of minimum wage. Students
will research the purpose of minimum wage and write an opinion piece to detail their
feelings toward minimum wage. (Textbook P226) Literacy RH.11-12.9
E.17 Identify factors that cause changes in
market supply and demand.
E.18 Demonstrate how changes in supply
and demand influence equilibrium price
and quantity in the product, resource, and
financial markets.
E.17-18 How are shortages and surpluses
created?
Suggested Student Choice Independent Research Activities: Students should
choose their own sources, cite evidence, and present their work in a format of their
choosing be it graphically, essay format, or via oral presentation with visual aids.
E.11 Define supply and demand, and provide relevant examples. (Textbook P84)
Literacy RH.11-12.7
E.12 Describe the role of buyers and sellers in determining the equilibrium price.
(Textbook P132) Literacy RH.11-12.7
13
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E.19 Demonstrate how government wage
and price controls, such as rent controls
and minimum wage laws, create shortages
and surpluses.
E. 20 Cite evidence from appropriate
informational texts to argue in an opinion
piece for or against the minimum wage.
E.21 Use concepts of price elasticity of
demand and supply to explain and predict
changes in quantity as prices fluctuate.
E.22 Explain how financial markets, such
as the stock market, channel funds from
savers to investors.
Part 1/Quarter 1
Content Vocabulary (Tier 3):
Demand, law of demand, substitution effect,
demand schedule, market demand schedule,
demand curve, ceteris paribus, normal good,
inferior good, demographics, complements,
substitutes, elasticity of demand, inelastic,
unitary elastic, total revenue,
law of supply, quantity supplied, supply
schedule, variable, market supply schedule,
supply curve, market supply curve, elasticity of
supply, marginal product of labor, increasing
marginal returns, diminishing marginal returns,
fixed cost, variable cost, total cost, marginal
cost, marginal revenue, average cost, operating
cost, subsidy, excise tax
Academic Vocabulary (Tier 2):
Principles, entry, production, supply, short run,
long run, supplier, wages, shortages, surpluses,
sum, output, expectations, regulation, Income,
reduction, goods, population, demographics,
advertising, consumers, calculating, value,
availability, policy
(For Vocabulary Strategies see page 5)
Economics
E.13 Describe how prices of products as well as interest rate and wage rates send
signals to buyers and sellers of products, loanable funds, and labor. (Textbook P148)
Literacy RH.11-12.7
E.14 Explain that consumers ultimately determine what is produced in a market
economy (consumer sovereignty). (Textbook P159) Literacy RH.11-12.7
E.15 Explain the function of profit in a market economy as an incentive for
entrepreneurs to accept the risks of business failure. (Textbook P159) Literacy
RH.11-12.7
E.16 Demonstrate how supply and demand determine equilibrium price and quantity
in the product, resource, and financial markets, including drawing and reading supply
and demand curves. (Textbook P133) Literacy RH.11-12.7,2,1
E.17 Identify factors that cause changes in market supply and demand. (Textbook
P141) Literacy RH.11-12.7,1
E.18 Demonstrate how changes in supply and demand influence equilibrium price
and quantity in the product, resource, and financial markets. (Textbook P135)
Literacy RH.11-12.7
E.19 Demonstrate how government wage and price controls, such as rent controls
and minimum wage laws, create shortages and surpluses. (Textbook P216) Literacy
RH.11-12.7
E. 20 Cite evidence from appropriate informational texts to argue in an opinion piece
for or against the minimum wage. (Textbook P223) Literacy RH.11-12.7
E.21 Use concepts of price elasticity of demand and supply to explain and predict
changes in quantity as prices fluctuate. (Textbook P97) Literacy RH.11-12.7
E.22 How do financial markets channel funds
from savers to investors?
E.22 Explain how financial markets, such as the stock market, channel funds from
savers to investors. (Textbook P276) Literacy RH.11-12.6
14
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Part 1/Quarter 1
Economics
Market Structure
(Weeks 8-9)
Textbook/Anchor Texts: Prentice-Hall: ECONOMICS
TN State Recommendations: NA
TN State Social Studies Standards
Big Ideas, Guiding Questions &Vocabulary
Perfect Competition at its Best!
E.23 Compare and contrast the following
forms of business organization: sole
proprietorship, partnership, and
corporation.
E.23 What are the forms of business
organization?
Suggested Activities & Resources
Textbook References
Chapter 7: Complete Chapter 7’s Section(s), Chapter, and DBQ Assessments pp.
185-187 Literacy RH.11-12.6
Visuals:
What is Perfect Competition? p. 161;
Market Equilibrium in Perfect Competition p. 162;
Effect of Economies of Scale p. 165;
Monopoly p. 166;
Demand Schedule of deep Breathe p. 170;
Setting a Price in a Monopoly p. 171;
Monopolistic Competition p. 175;
Nonprice Competition p. 176; Oligopoly p. 177;
The OPEC cartel p. 178;
Key events in Federal Antitrust Policy p. 181;
How is Broadcasting Regulated? pp. 182
Chapter 9: Complete Chapter 9’s Section3 Assessment pp. 242 Literacy RH.11-12.6
Visuals:
Key Events in the U.S. Labor Movement p. 236, U.S. economic Changes That Have
Affected Unions p.238, Labor and Union Membership p.239, How Can Collective
Bargaining Settle Differences? pp.240-241,
Suggested Activities
E. 23 Using the link http://www.kcsourcelink.com/learning-center/starting-abusiness/register-and-license-your-business/forms-of-business-organization,
students will compare and contrast forms of business organization through a
comparative writing piece. Literacy RH.11-12.2
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E.24 Analyze the various ways and
reasons that firms grow either through
reinvestment of financial capital obtained
through retained earnings, stock issues
and borrowing, or through horizontal,
vertical, and conglomerate mergers.
E.25 Analyze key details and central ideas
from diverse forms of informational text to
summarize the role and historical impact of
economic institutions, such as labor
unions, multinationals, and nonprofit
organizations, in market economies.
E.26 Identify the basic characteristics of
monopoly, oligopoly, monopolistic
competition, and pure competition.
E.27 Explain how competition among
many sellers lowers costs and prices and
encourages producers to produce more.
Part 1/Quarter 1
E.24 How do firms grow?
Economics
E.23 Through an opinion writing piece, students will write about the business
organization they feel would be the best to pursue. Students will support their
opinions with textual evidence and examine the primary advantages and
disadvantages of sole proprietorships and partnerships, LLC’s, and corporations.
(Textbook P190) Literacy RH.11-12.7; WHST.11-12.2
E.25 Relevance: Labor unions do several things to help keep the wages of their
workers high. Students will research the things that determine workers' earnings.
(Textbook P226) Literacy RH.11-12.9,7
E.25 What have been the historical impacts of
various economic institutions, such as labor
unions, multinationals, and nonprofit
organizations, in market economies?
E.26, E.27, E.28, E.29 What are the basic
characteristics of monopoly, oligopoly,
monopolistic competition, and pure competition
and how does competition work in each case?
Content Vocabulary (Tier 3):
Perfect competition, commodity, barrier to
entry, imperfect competition, start-up costs,
monopoly, economies of scale, natural
monopoly, patent, franchise, license, price
discrimination, market power, monopolistic
competition, differentiation, non-price
competition, oligopoly, price war, collusion,
price fixing, cartel, predatory pricing, antitrust
laws, merger, deregulation
E.26 Unions use collective bargaining and also invest in the productivity of workers.
Students will research to determine ways to increase the productivity of workers.
(Textbook P235) Literacy RH.11-12.7,9; WHST.11-12.1,2
E.28 The major market structures are monopolies, oligopolies, monopolistic
competition, and pure competition. Students will create a chart to list their similarities
and differences. (Textbook P158) Literacy RH.11-12.4; WHST.11-12.1
E.27 Using Competition: Pizza! Via
http://www.econedlink.org/lessons/projector.php?lid=383&type=educator, students
will understand that competition takes place when there are many buyers and sellers
of similar products, identify competing businesses in their community, understand
that competition among sellers results in lower prices, higher product quality, and
better customer service. Students will also explain how the opening of a second
pizza shop in a small community affects prices, profits, service, and quality.
Literacy RH.11-12.3
E.31 Relevance: Labor unions do several things to help keep the wages of their
workers high. Students will research the things that determine workers' earnings.
(Textbook P226) Literacy RH.11-12.9; WHST.11-12.2
E.31 In groups, students will read Elasticity of Demand and Supply via the link
http://faculty.winthrop.edu/stonebrakerr/book/elasticity.htm. Students will work
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E.28 Demonstrate how firms with market
power can determine price and output
through marginal analysis.
Part 1/Quarter 1
Academic Vocabulary (Tier 2):
Buyers, sellers, products, entry, exit, costs,
technology, output, barriers, labor, conditions,
bargain, wages, benefits settlements
(For Vocabulary Strategies- see page 5)
E.30 How is productivity increased?
E.29 Explain ways that firms engage in
price and non-price competition.
Economics
together to complete a concept web of the main idea of the text before writing
individual summaries of the text. Literacy RH.11-12.6; WHST.11-12.2
Suggested Independent Research Activities: Students should choose their own
sources, cite evidence, and present their work in a format of their choosing be it
graphically, essay format, or via oral presentation with visual aids.
E.23 In a paper, compare and contrast the following forms of business organization:
sole proprietorship, partnership, and corporation. (Textbook P190) Literacy RH.1112.6; WHST.11-12.1
E.31 How are wages determined?
E.24 In a paper, analyze the various ways and reasons that firms grow through
reinvestment of financial capital obtained through retained earnings, stock issues
and borrowing, or through horizontal, vertical, and conglomerate mergers. (Textbook
P202) Literacy RH.11-12.6; WHST.11-12.2,3
E .32 What is the role of entrepreneurs in a free
enterprise system?
E.25 In a paper, analyze key details and central ideas from diverse forms of
informational text to summarize the role and historical impact of economic
institutions, such as labor unions, multinationals, and nonprofit organizations, in
market economies. (Textbook P190) Literacy RH.11-12.6; WHST.11-12.1,2
E.26 In an essay, Identify the basic characteristics of monopoly, oligopoly,
monopolistic competition, and pure competition. (Textbook P158) Literacy RH.1112.6; WHST.11-12.2
E.27 Explain how competition among many sellers lowers costs and prices and
encourages producers to produce more (Textbook P148). Literacy RH.11-12.6
E.28 Use a graphic organizer to demonstrate how firms with market power can
determine price and output through marginal analysis. (Textbook P174) Literacy
RH.11-12.6; WHST.11-12.2,3
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Part 1/Quarter 1
Economics
E.29 In an essay, explain ways that firms engage in price and non-price competition.
(Textbook P158) Literacy RH.11-12.6; WHST.11-12.2
E.30 Examine informational text in diverse
formats and media to analyze how
investment in research and development,
equipment and technology, and training of
workers increases productivity.
E.30 Examine informational text in diverse formats and media to analyze how
investment in research and development, equipment and technology, and training of
workers increases productivity. (Textbook P323) Literacy RH.11-12.6
E.31 Describe how the earnings of workers
are determined by the market value of the
product produced or service provided
workers’ productivity, incentives, collective
bargaining, and discrimination.
E.31 In a paper, describe how the earnings of workers are determined by the market
value of the product produced or service provided, workers’ productivity, incentives,
collective bargaining, and discrimination. (Textbook P228) Literacy RH.11-12.6;
WHST.11-12.2
E.32 Analyze in a paper, the role and productivity of entrepreneurs in a freeenterprise system and how entrepreneurial decisions are influenced by tax,
regulatory, education, and research support policies. (Textbook P306) Literacy
RH.11-12.6; WHST.11-12.2
E.32 Analyze the role and productivity of
entrepreneurs in a free-enterprise system
and how entrepreneurial decisions are
influenced by tax, regulatory, education,
and research support policies.
Resources
Economic Close Reads and Lesson Plans:
http://www.econedlink.org/lessons/economic-lesson-search.php?type=educator&gid=4
Graphic Organizers
http://www.studenthandouts.com/
Productive Resources
http://www.econedlink.org/interactives/index.php?iid=191&type=student
Economic Institutions
http://www.whatiseconomics.org/what-is-economics/economic-institutions
Free Enterprise Education Act
http://www.alec.org/model-legislation/free-enterprise-education-act/
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Part 1/Quarter 1
Economics
These sites can be used as you develop your lesson plans!
Reference Resources:
Please register for these free sites:
Ever Fi (Economics, financial Literacy & African American History)
www.everfi.com/login
Read Works (Informational Passages/Articles including Paired Texts)
http://www.readworks.org/
Newsela (Informational topics)
https://newsela.com/
Britannica www.school.eb.com Username: Shelby Password: county
To Log on to ImageQuest
Go to: quest.eb.com Username – shelby
Password - county
The World Almanac Online (for middle and high)
http://online.infobaselearning.com/Direct.aspx?aid=237361&pid=WE29
Access Credentials: for middle and high
Username: shelbycty-2nd
Password: digital
Gilder-Lehrman
https://www.gilderlehrman.org/programs-exhibitions/affiliate-school-program
Teacher Tube (Uses your SCS Log-in)
These sites can be used as you develop your lesson plans!
www.eduToolbox.org
19
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