I love a dog. He does nothing for political reasons. — Will Rogers

Content Standard E9.0 - The Market Economy - Students will understand how scarcity and incentives affect choices, how markets work, why markets form, how supply and demand interact to determine the market price, and how changes in prices act as economic signals to coordinate trade.

Incentives, Choices, & Cost
  • E9.[9-12].2 Analyze how consumers adjust their purchases in response to price changes using the concept of price elasticity.
  • E9.[9-12].4 Evaluate career paths considering:
    • Specific skills required
    • Wages
    • Impact of skills on wages
    • Response of wages to market demand
Markets & Prices

Content Standard E10.0 - The U.S. Economy As A Whole - Students will identify indicators used to measure economic performance, understand key aspects of how the economy acts as a system, and understand the roles of money, interest rates, savers, and borrowers, financial institutions, and the central bank in our economy.

Forms & Functions of Money
Interest, Saving, Borrowing
  • E10.[9-12].3 Explain why a real interest rate accurately measures the benefit of saving or the cost of borrowing, and indicate ways a high interest rate could be detrimental or beneficial.
  • E10.[9-12].4 Explain what a credit rating is and how it affects access to loans.
Financial Institutions
Circular Flow
Economic Growth
Per Capita Measures
Economic Performance Indicators
  • E10.[9-12].11 Define recession and examine the U.S. economy over time using the change in real GDP.
  • E10.[9-12].12 Discuss the effects of inflation on the U.S. economy using the consumer price index.
  • E10.[9-12].13 Compare the unemployment rates for groups of people who differ by age, sex, ethnicity, occupation, and education.
  • E10.[9-12].14 Demonstrate knowledge of when, why, and how interest rate levels have experienced relative highs and relative lows throughout U.S. history.
Financial Institutions, Credit, & Interest Rates

Content Standard E11.0 - The Dynamic Economy - Students will identify the causes of economic change, explain how the U.S. economic system responds to those changes; and explain how other economic systems respond to change.

  • E11.[9-12].1 Identify the roles of organizations in a market economy, including:
    • For-profit organizations
    • Not-for-profit organizations
    • Labor unions
  • E11.[9-12].2 Analyze the past, present, and future role of investment in enhancing economic growth and raising living standards.
  • E11.[9-12].3 Evaluate how entrepreneurs affect the economy by solving problems, taking risks, and taking advantage of opportunities to earn profits.
Specialization & Interdependence
Role of Government
Rise of Democratic Capitalism
Comparative Systems
Resource Allocation
  • E11.[9-12].9 Compare the benefits and costs of allocating resources through markets or government.
  • E11.[9-12].10 Discuss how an economy's price system determines what goods and services will be produced, how they will be produced, and who will receive them.

Content Standard E12.0 - The International Economy - Students will explore trends in international trade, the impact of trade on the U.S. economy, and the role of exchange rates.

International Interdependence
  • E12.[9-12].1 Describe how the economic characteristics of other countries and their economic events affect the United States.
Exchange Rates
  • E12.[9-12].2 Determine how a change in exchange rates affects the ability of residents of one country to consume products from other countries.
  • E12.[9-12].3 Assess the impact of globalization on the U.S. and world economies.
Restricted Trade