K-12 teachers: Get free professional development wherever you are! EconEdLink members can register for webinars with one click and will receive certificates of completion within 24 hours of viewing. CHECK IT OUT

Standards for Short-Run Equilibrium and Changes in AS/AD

Jump to:

National Standards in Economics

Name: Economic Fluctuations

Standard: 18

  • Students will understand that: Fluctuations in a nation's overall levels of income, employment, and prices are determined by the interaction of spending and production decisions made by all households, firms, government agencies, and others in the economy. Recessions occur when overall levels of income and employment decline.
  • Students will be able to use this knowledge to: Interpret media reports about current economic conditions and explain how these conditions can influence decisions made by consumers, producers, and government policy makers.

Name: Unemployment and Inflation

Standard: 19

  • Students will understand that: Unemployment imposes costs on individuals and the overall economy. Inflation, both expected and unexpected, also imposes costs on individuals and the overall economy. Unemployment increases during recessions and decreases during recoveries.
  • Students will be able to use this knowledge to: Make informed decisions by anticipating the consequences of inflation and unemployment.

State Standards

Common Core State Standards

Name: High School: Number and Quantity

Standard:

Area: