What grade levels do these standards cover?

Grade 9, Grade 10, Grade 11, and Grade 12

Where can I read the official document?

2024 Indiana Content Connectors: Economics

1
Match a productive resource (i.e., natural, human, capital) to its role in producing goods and services. (E)E.1.1a
2
Identify incentives and how positive and negative incentives work to influence economic behavior.E.1.2a
3
Identify why households, businesses, and governments engage in voluntary exchange.E.1.3a
4
Describe how scarcity leads to choices, and identify the opportunity costs associated with decisions. (E)E.1.4a
5
Use a production possibilities curve to show trade offs and opportunity costs. E.1.5a
6
Identify the characteristics of traditional, market, and command economies.E.1.6a
7
Identify why property rights are important to market economies.E.1.7a
8
Identify how investment in capital (physical and human) leads to increased productivity. (E)E.1.8a
9
Use a circular flow diagram to show how money flows from businesses to households, and from households to businesses. E.1.9a

1
Define the Law of Supply and the Law of Demand. (E)E.2.1a
2
Identify that consumers determine what is produced.E.2.2a
3
Identify the equilibrium price and quantity on a market supply and demand graph.E.2.3a
4
Identify factors that cause changes in market supply and demand. E.2.4a
5
Describe factors other than price that might affect the number of items purchased. E.2.5a
6
Identify factors that determine how much workers are paid. Examples: market value of the product produced, workers' productivity, and collective bargaining. (E) E.2.6a

1
Define public goods and identify how market failures lead to underproduction of public goods.E.4.1a
2
Identify why the government has an interest in the production of public goods and services. (E)E.4.2a
3
Identify how the government subsidizes positive externalities to resolve inefficiencies or why the government taxes negative externalities.E.4.3a
4
Describe challenges that state and federal governments face in achieving a balanced budget. (E)E.4.4a
5
Identify personal income tax as a progressive tax, sales tax, and Federal Income Contributions as a regressive tax. (E)E.4.5a
6
Describe budget debt and budget deficit and identify an effect of both on the economy. (E)E.4.6a

1
Describe gross domestic product (GDP), unemployment, and inflation.E.5.1a
2
Describe how rational spending of households, businesses, and government impacts a country's overall income, employment, and price level.E.5.2a
3
Identify the limitations of using GDP to measure economic welfare. E.5.3a
4
Identify the causes of inflation (i.e., cost-push and demand-pull). (E)E.5.4a
5
Describe the business cycle in a market economy.E.5.5a
6
Identify the different types of unemployment, including structural, cyclical, frictional, and seasonal.E.5.6a

1
Identify a function of money.E.6.1a
2
Identify the role banks or other financial institutions play for savers, borrowers, and investors. (E)E.6.2a
3
Identify how banks create money when loans are made and the role that the fractional reserve plays in the process.E.6.3a
4
Identify the different functions of the Federal Reserve, including regulating the money supply, regulating banks, and providing financial services to the U.S. Government. E.6.4a
5
Identify how interest rates benefit savers and borrowers. (E) E.6.5a
6
List two or more ways to invest money to save for the future. (E)E.6.6a
7
Identify equilibrium price and quantity on a supply and demand graph. E.6.7a

1
Define fiscal and monetary policy. E.7.1a
2
Identify the tools of fiscal policy (government spending and taxes) and the tools of monetary policy (interest rates, reserve requirements, buying and selling of treasury bonds). E.7.2a
3
Identify the ways the government uses fiscal policy to promote economic stability, full employment, and economic growth.E.7.3a
4
Identify how the use of fiscal policy affects budget deficits or surpluses and the national debt.E.7.4a
5
Identify the ways the Federal Reserve uses monetary policy to promote economic stability, full employment, and economic growth. E.7.5a

1
Define trade barriers and identify why a country erects them. E.8.1a
2
Define free trade and identify one reason for and one reason against free trade. E.8.2a

What grade levels do these standards cover?: Grade 9, Grade 10, Grade 11, and Grade 12
Where can I read the official document?: 2024 Indiana Content Connectors: Economics

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