What grade levels do these standards cover?

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

Where can I read the official document?

Academic Standards for Economics Grades K-12

A
Evaluate the strengths and weaknesses of traditional, command, and market economies. 6.1.9-12.A
B
Analyze the impact of traditional, command, and market economies on the United States economy. 6.1.9-12.B
C
Analyze actions taken as a result of scarcity in decision-making.6.1.9-12.C
D
Analyze how choices made by individuals, firms, or government officials are constrained by available resources.6.1.9-12.D
E
Evaluate the allocation of resources used to produce goods and services.6.1.9-12.E
F
Evaluate regional, national, or international economic decisions using marginal analysis.6.1.9-12.F
G
Analyze the opportunity cost of decisions by individuals, businesses, communities, and nations. 6.1.9-12.G
H
Evaluate in terms of marginal analysis how incentives influence decisions of consumers, producers, and policymakers.6.1.9-12.H
I
Analyze the relationship between specialization and the standard of living.6.1.9-12.I
J
Analyze the relationships between trade, competition, and productivity.6.1.9-12.J
K
Evaluate how a country might benefit by lowering or removing trade barriers.6.1.9-12.K
L
Analyze how consumers and producers participate in the global production and consumption of goods or services.6.1.9-12.L
M
Explain that individuals and nations have a comparative advantage in the production of goods or services if they can produce a product at a lower opportunity cost than other individuals or nations.6.1.9-12.M

A
Analyze the circular flow of products, resources, and money in a mixed economy.6.2.9-12.A
B
Define noncompetitive markets and explain how consumers and producers operate in those markets.6.2.9-12.B
C
Evaluate the economic roles of governments in promoting free markets (e.g., price controls antitrust actions).6.2.9-12.C
D
Predict how changes in supply and demand affect equilibrium price and quantity sold.6.2.9-12.D
E
Explain how the location of resources, transportation, and technology have affected international economic patterns.6.2.9-12.E
F
Analyze the factors influencing wages, including demand for goods and services produced, productivity of labor, labor unions, and education and skills.6.2.9-12.F
G
Evaluate how changes in education, incentives, technology, and capital investment alter productivity. 6.2.9-12.G
H
Analyze the costs and benefits of organizing a business as a sole proprietorship, partnership, or corporation.6.2.9-12.H
I
Analyze the role of profits and losses in the allocation of resources in a market economy. 6.2.9-12.I
J
Evaluate the impact of entrepreneurs on the economy.6.2.9-12.J

A
Evaluate the relationship between economic growth and changes in macroeconomic indicators such as the Consumer Price Index (CPI), gross domestic product (GDP), and unemployment rate.6.3.9-12.A
B
Compare current and historical examples of expansion, recession, and depression.6.3.9-12.B
C
Identify fiscal and monetary policies that address inflation, unemployment, or economic growth., AND THE NATIONAL DEBT AND DEFICIT.6.3.9-12.C
D
Explain how deficit spending by the federal government increases the national debt and the impact it has on the economy.6.3.9-12.D
E
Evaluate the impact of different tax structures (progressive, proportional, and regressive) and different tax bases (income, wealth, property, etc.) on households and firms.6.3.9-12.E
F
Analyze the social, political, and economic consequences of changes in tax policy.6.3.9-12.F
G
Evaluate the economic roles of governments in a globalized economy (e.g., trade policy, income inequality, distribution of wealth). 6.3.9-12.G
H
Evaluate policies governments can use to address unintended consequences (i.e., externalities) of market activities.6.3.9-12.H
I
Evaluate government decisions in prioritizing public goods and services.6.3.9-12.I

A
Explain how the Federal Reserve defines money. 6.4.9-12.A
B
Explain how changes in exchange rates affect the relative prices of foreign goods and services.6.4.9-12.B
C
Explain how changes in the money supply and monetary policy affect interest rates throughout the economy.6.4.9-12.C
D
Evaluate the role of banks in promoting economic growth in the economy.6.4.9-12.D
E
Analyze Federal Reserve policies designed to raise or lower interest rates.6.4.9-12.E
F
Evaluate the role of nongovernmental economic institutions (e.g., labor unions, non- profits, financial markets).6.4.9-12.F
G
Evaluate benefits and costs of changes in interest rates for individuals and society.6.4.9-12.G

What grade levels do these standards cover?: Grade 9, Grade 10, Grade 11, and Grade 12
Where can I read the official document?: Academic Standards for Economics Grades K-12

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