Economics Standards - Nevada
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].1 Analyze choices and
incentive systems used by
parents, teachers, employers and government using the concepts of:
- E9.[9-12].4 Evaluate career paths considering:
- Specific skills required
- Impact of skills on wages
- Response of wages to market demand
Markets & Prices
- E9.[9-12].5 Analyze markets using the concepts of supply and
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
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
- E10.[9-12].4 Explain what a credit rating is and how it affects
access to loans.
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
- 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
- E11.[9-12].6 Analyze the role of government in a market economy regarding:
Rise of Democratic Capitalism
- E11.[9-12].8 Illustrate the idea that real world economies tend to be
mixed economies containing elements of:
- E11.[9-12].9 Compare the benefits and costs of allocating
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
- E12.[9-12].1 Describe how the economic characteristics of other
countries and their economic events affect the United States.
- 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.