Indiana Academic Standards Global Economics Standards Approved March 2014

Download 0.67 Mb.
Date conversion15.05.2016
Size0.67 Mb.
  1   2   3

Indiana Academic Standards Global Economics

Standards Approved March 2014

Indiana Department of Education

College and Career Readiness

What are Standards?
Standards outline what students need to know, understand, and be able to do.

Academic standards are benchmark measures that define what students should know and be able to do at specified grade levels beginning in kindergarten and progressing through grade twelve. The standards are promulgated as state regulations. As such, they must be used as the basis for curriculum and instruction in Indiana's accredited schools. The academic standards are NOT a curriculum; therefore, identifying the sequence of instruction in each grade—what will be taught and how long—requires concerted effort and attention at the district/school level. Academic standards do not prescribe any particular curriculum. Curriculum tools are selected at the district/school level and adopted through the local school board.  No student, by virtue of poverty, age, race, gender, cultural or ethnic background, disabilities, or family situation will ultimately be exempt from learning the required academic standards, although it is acknowledged that individual students may learn in different ways and at different rates. Academic standards focus on what students will need to learn in order to be college and career ready and to be competitive in the job market.


Global Economics is a business course that provides students with an understanding of their role as consumers and producers in domestic and global economies. This course enables students to understand how the economic system operates while comprehending their role in that system. Students deal with public policy, international economics, microeconomics, and macroeconomics in comparing economic systems and using selected economic measures.

  • DOE Code: 4558

  • Recommended Grade Level: Grade 12

  • Recommended Prerequisites: None

  • Credits: 1 credit per semester, maximum of 2 semester, maximum of 2 credits

  • Counts as a Directed Elective or Elective for the General, Core 40, Core 40 with Academic Honors and Core 40 with Technical Honors diplomas

  • May fulfill up to one graduation credit of the Economics requirement

Career and Technical Student Organizations (CTSOs)

Career and Technical Student Organizations are considered a powerful instructional tool when integrated into Career and Technical Education programs. They enhance the knowledge and skills students learn in a course by allowing a student to participate in a unique program of career and leadership development. Students should be encouraged to participate in Business Professional of America, DECA, or Future Business Leaders of America, the CTSOs for this area.

Content Standards

Domain – Basic Economic Concepts

Core Standard 1 Students synthesize the relationship among scarcity, choice and opportunity costs to understand that resources are limited and, as a result, individuals must choose some things and give up others.



Define, identify and explain the productive resources


Define scarcity and explain how opportunity costs and tradeoffs exist


Explain incentives and how they affect choice


Use a production possibilities curve to explain the concepts of choice, scarcity, opportunity cost, tradeoffs, unemployment, productivity, and growth


Critique the trade-off among economic growth, national security, efficiency, and personal freedom


Explain measures of a country's economic performance such as Gross Domestic Product (GDP), unemployment, and inflation

Domain – Economic Systems

Core Standard 2 Students critique various economic systems from around the world in order to identify strengths and weakness, and compare each.



Describe the various economic systems


Identify questions that must be answered by any economic system and how they are categorized by how they answer the basic economic questions


Evaluate the strengths and weaknesses of various economic systems


Explain the fundamental role of government in the various economic systems


Investigate the effect of taxes on economic systems


Describe fiscal policy and its relationship to various economic systems


Explain and evaluate how and why governments control businesses and individuals through laws and taxes

Core Standard 3 Students analyze marketplace structures in economic systems.



Define labor productivity and explain the basic factors which affect productivity


Analyze the relationship between price, supply, and demand


Demonstrate the efficiency of an economic system’s decision making through production possibility curves


Describe different types of competitive structures in economic systems


Explain the role and effect of labor unions, nonprofit organizations, and cooperatives in a given economy


Assess the influence of monopolies and oligopolies on marketplaces


Describe and evaluate how businesses are formed, operated, and funded


Explain the business cycle and the factors that influence it

Domain – World Trade

Core Standard 4 Students analyze the necessity for global interaction within the different economic systems.



Demonstrate how all countries are interdependent


Explain how specialization promotes international trade and how international trade increases total world output


Explain how governments and cartels/syndicates influence world trade


Differentiate absolute advantage versus comparative advantage


Discuss the components that make up the balance of payments and balance of trade among nations


Evaluate the effects of trade agreements among nations and barriers to trade

Domain – Money and Banking

Core Standard 5 Students explain the role of monetary and fiscal policies in a global economy and how it relates to individuals’ daily lives, businesses, and governments.



Explain what the Federal Reserve is, its function, and its impact on the U.S. economy


Differentiate between monetary policy and fiscal policies


Explain what is money and how it is given value


Compare the advantages and disadvantages of the barter system, currency, and near money


Analyze how changing interest rates are used to influence economies


Research the structure of financial institutions and analyze the consumer and commercial products offered


Investigate the effect of Gross Domestic Product (GDP), unemployment, and inflation on economies


Analyze the history and current trends of U.S. and international commercial banking


Analyze and discuss the structure of, the purpose for, and the effects of government taxation

Core Standard 6 Students research the role of currency and international financial institutions in a global economy.



Formulate the value of different currencies among nations


Explain the roles and functions of the World Bank, the International Monetary Fund (IMF), and other international banking/financial institutions


Compare and analyze the securities exchanges and their effect on the world economy


Analyze the influence of phenomenon such as trade policies, politics, disasters, and cultural factors on the value of currency


Explain how the value of money and the exchange rate influence the standard of living in an economy

Domain – Making Career Choices

Core Standard 7 Students analyze career options in a global economy.



Analyze U.S. and foreign economies to forecast how trade may affect job opportunities and income potential


Identify and assess personal interests, abilities, life goals, and possible career choices


Predict your future lifestyle and income based on current global economic trends


Evaluate the impact of sociological, economic and technological changes on future careers

Indiana Academic Standards

Content Area Literacy: History/Social Studies

Approved April 2014

Guiding Principle: Students develop discipline-specific reading and writing skills. Within the areas of History/Social Studies, students apply these skills in order to develop a deeper understanding of the content area.
There are six key areas found in the Literacy in History/Social Studies section for grades 6-12: Key Ideas and Textual Support, Structural Elements and Organization, Synthesis and Connection of Ideas, Writing Genres, the Writing Process, and the Research Process. By demonstrating the skills listed in each section, students should be able to meet the Learning Outcome for Literacy in History/Social Studies.
Note that the standards in this section are not designed for implementation in an English/Language Arts classroom. Instead, t hey provide guidance to content area teachers in grades 6-12 (e.g., History/Social Studies teachers, Science teachers, Career and Technical Education teachers, etc.) on expectations for integrating reading and writing skills into their classrooms.

In Literacy in History/Social Studies, students are expected to do the following:


Read and comprehend history/social studies texts independently and proficiently, and write effectively for a variety of discipline-specific tasks, purposes, and audiences



GRADES 11-12

6-8.LH.1.1: Read and comprehend history/social studies texts within a range of complexity appropriate for grades 6-8 independently and proficiently by the end of grade 8.

9-10.LH.1.1: Read and comprehend history/social studies texts within a range of complexity appropriate for grades 9-10 independently and proficiently by the end of grade 10.

11-12.LH.1.1: Read and comprehend history/social studies texts within a range of complexity appropriate for grades 11-CCR independently and proficiently by the end of grade 12.

6-8.LH.1.2: Write routinely over a variety of time

frames for a range of discipline-specific tasks, purposes, and audiences.

9-10.LH.1.2: Write routinely over a variety of time

frames for a range of discipline-specific tasks, purposes, and audiences.

11-12.LH.1.2: Write routinely over a variety of time

frames for a range of discipline-specific tasks, purposes, and audiences.

  1   2   3

The database is protected by copyright © 2016
send message

    Main page