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Economics Polk Discussion Slides

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Economic Concept Discussion Slides

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Economics Polk Discussion Slides

  1. 1. Economics: Standards and Resources Brittany Sampson & Deborah Kozdras http://stavros.coedu.usf.edu/
  2. 2. Economic Concepts
  3. 3. http://www.econedlink.org
  4. 4. Paul Soloman Graphing Videos
  5. 5. Monetary vs. Fiscal Policy
  6. 6. SS.912.E.2.1: Identify and explain broad economic goals. • Remarks/Examples: Examples are freedom, efficiency, equity, security, growth, price stability, full employment. • The textbook has examples but the kids have difficulty on their own. Give them examples of each one from the real world and discuss. • Rank and explain. Get into groups of 3-4 and they have to eliminate a goal and explain why.
  7. 7. SS.912.E.2.12: Construct a circular flow diagram for an open-market economy including elements of households, firms, government, financial institutions, product and factor markets, and international trade. Problem: Kids think the “market” is always a place.
  8. 8. SS.912.E.3.1: Demonstrate the impact of inflation on world economies. • Remarks/Examples: Examples are oil prices, 1973 oil crisis, Great Depression, World War II. • Problem: They do not understand the effects or consequences for inflation.
  9. 9. SS.912.E.3.4: Assess the economic impact of negative and positive externalities on the international environment. • Remarks/Examples: Examples of negative are pollution, global warming. Examples of positive are pure water, better air quality. • What is an externality or consequence? What is the consequence of brushing or not brushing your teeth?
  10. 10. SS.912.E.2.10: Describe the organization and functions of the Federal Reserve System.
  11. 11. SS.912.E.1.11: Explain how the Federal Reserve uses the tools of monetary policy (discount rate, reserve requirement, open market operations) to promote price stability, full employment, and economic growth. • Practice with your kids. • Chart with the kids on how to make the economy grow and shrink. • Expansionary and contractionary policy. Loose and tight monetary policy. (Vocabulary) • Chart and they practice. Give problems. • Define full employment.
  12. 12. SS.912.E.1.10: Explain the use of fiscal policy (taxation, spending) to promote price stability, full employment, and economic growth. • GDP • Graph
  13. 13. SS.912.E.2.2: Use a decision-making model to analyze a public policy issue affecting the student's community that incorporates defining a problem, analyzing the potential consequences, and considering the alternatives.
  14. 14. SS.912.E.2.4: Diagram and explain the problems that occur when government institutes wage and price controls, and explain the rationale for these controls. • Remarks/Examples: Examples are shortage, surplus, other inefficiencies. • You should teach this in your supply and demand unit. – Price ceilings and price floors – Shortage and surplus and what happens. – Subsidized housing. – Minimum wage.
  15. 15. SS.912.E.2.7: Identify the impact of inflation on society. • Hands on simulation about when the price level changes, the value of the dollar changes. • Draw a picture of a loaf of bread. – What was one dollar for one loaf of bread? – Now it is three dollars for a loaf of bread. – What does that one dollar now buy? – Cut off part of the bread. – Need to visualize. It is a purchasing power problem.
  16. 16. SS.912.E.2.8: Differentiate between direct and indirect taxes, and describe the progressivity of taxes (progressive, proportional, regressive). • Remarks/Examples: Examples are income, sales, social security. • David has a video tinyurl site. Tax video modeled after schoolhouse rocks. https://www.youtube.com/watch?v=6Q3NPg HZzDo • Taxation Nation We The Economy https://wetheeconomy.com/films/taxation- nation/
  17. 17. SS.912.E.2.9: Analyze how changes in federal spending and taxation affect budget deficits and surpluses and the national debt. • Deficit vs debt
  18. 18. Production Possibility Curves • https://www.youtube.com/watch?v=O6XL__2 CDPU ACDC
  19. 19. Absolute and Comparative Advantage • http://www.econedlink.org/lessons/projector. php?lid=104&type=educator LeBron James for comparative advantage • http://www.econedlink.org/teacher- lesson/794 • Do example problem.
  20. 20. New Financial Literacy Standards
  21. 21. http://stavros.coedu.usf.edu/

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