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National Standards in Economics
Name: Institutions
Standard: 10
- Students will understand that: Institutions evolve and are created to help individuals and groups accomplish their goals. Banks, labor unions, markets, corporations, legal systems, and not-for-profit organizations are examples of important institutions. A different kind of institution, clearly defined and enforced property rights, is essential to a market economy.
- Students will be able to use this knowledge to: Describe the roles of various economic institutions and explain the importance of property rights in a market economy.
National Standards in Financial Literacy
Name: Managing Credit
Standard: 5
- Students will understand that: Credit allows people to purchase and enjoy goods and services today, while agreeing to pay for them in the future, usually with interest. There are many choices for borrowing money, and lenders charge higher interest and fees for riskier loans or riskier borrowers. Lenders evaluate creditworthiness of a borrower based on the type of credit, past credit history, and expected ability to repay the loan in the future. Credit reports compile information on a person’s credit history, and lenders use credit scores to assess a potential borrower’s creditworthiness. A low credit score can result in a lender denying credit to someone they perceive as having a low level of creditworthiness. Common types of credit include credit cards, auto loans, home mortgage loans, and student loans. The cost of post-secondary education can be financed through a combination of grants, scholarships, work-study, savings, and federal or private student loans.
Name: Saving
Standard: 3
- Students will understand that: People who have sufficient income can choose to save some of it for future uses such as emergencies or later purchases. Savings decisions depend on individual preferences and circumstances. Funds needed for transactions, bill-paying, or purchases, are commonly held in federally insured checking or savings accounts at financial institutions because these accounts offer easy access to their money and low risk. Interest rates, fees, and other account features vary by type of account and between financial institutions, with higher rates resulting in greater compound interest earned by savers.
Common Core State Standards
Name: CCRA.L.6
Standard: College and Career Readiness Anchor Standards for Language
Area: College and Career Readiness Anchor Standards for Language
- Acquire and use accurately a range of 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 encountering an unknown term important to comprehension or expression.
Name: CCRA.SL.3
Standard: College and Career Readiness Anchor Standards for Speaking and Listening
Area: College and Career Readiness Anchor Standards for Speaking and Listening
- Evaluate a speaker’s point of view, reasoning, and use of evidence and rhetoric.
Name: CCRA.SL.4
Standard: College and Career Readiness Anchor Standards for Speaking and Listening
Area: College and Career Readiness Anchor Standards for Speaking and Listening
- Present information, findings, and supporting evidence such that listeners can follow the line of reasoning and the organization, development, and style are appropriate to task, purpose, and audience.
Name: CCRA.SL.5
Standard: College and Career Readiness Anchor Standards for Speaking and Listening
Area: College and Career Readiness Anchor Standards for Speaking and Listening
- Make strategic use of digital media and visual displays of data to express information and enhance understanding of presentations.
Name: CCRA.W.7
Standard: College and Career Readiness Anchor Standards for Writing
Area: College and Career Readiness Anchor Standards for Writing
- Conduct short as well as more sustained research projects based on focused questions, demonstrating understanding of the subject under investigation.
Name: RH.6-8.2
Standard: History/Social Studies -- Grade 6-8
Area: History/Social Studies -- Grade 6-8
- Determine the central ideas or information of a primary or secondary source; provide an accurate summary of the source distinct from prior knowledge or opinions.
Name: RH.6-8.4
Standard: History/Social Studies -- Grade 6-8
Area: History/Social Studies -- Grade 6-8
- Determine the meaning of words and phrases as they are used in a text, including vocabulary specific to domains related to history/social studies.
Name: WHST.6-8.2
Standard: Writing Grade 6-8
Area: Writing Grade 6-8
- Write informative/explanatory texts, including the narration of historical events, scientific procedures/ experiments, or technical processes.
Name: WHST.6-8.8
Standard: Writing Grade 6-8
Area: Writing Grade 6-8
- Gather relevant information from multiple print and digital sources, using search terms effectively; assess the credibility and accuracy of each source; and quote or paraphrase the data and conclusions of others while avoiding plagiarism and following a standard format for citation.
