g. Solve problems using the theory of supply and demand Global Econ Digital Module

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1 Maine STATE STANDARD OR BENCHMARK: CORRELATES WITH: Social Studies C1 Economic Knowledge, Concepts, Themes, and Patterns Students understand the principles and processes of personal economics, the role of markets, the economic system of the United States, and other economic systems in the world, and how economics serves to inform decisions in the present and future. a. Explain that the study of economics includes the analysis and description of production, distribution, and consumption of goods and services by business, and is the basis of individual personal finance management including saving and investing. b. Explain and analyze the role of financial institutions, the stock market, and government, including fiscal, monetary, and trade policies, in personal, business, and national economics. c. Evaluate different forms of money management, and the positive and negative impacts that credit can have on individual finances, using economic reasoning. d. Identify and explain various economic indicators and how they represent and influence economic activity. e. Analyze economic activities and policies in relationship to freedom, efficiency, equity, security, growth, and sustainability. f. Explain and apply the concepts of specialization, economic interdependence, and comparative advantage. Unit 1, 2, 3, 4 Unit 1, 2, 3, 4 Unit 1, Ch. 1, 2, 3 Unit 2, Ch. 6 Unit 1, Ch. 1, 2, 3 Unit 2, Ch. 4, 6 Unit 1, Ch. 1, 2 Unit 2, Ch. 6 Unit 1, Ch. 1, 2, 3 Unit 2, Ch. 4, 6, 9 g. Solve problems using the theory of supply and demand A1 Self-Knowledge and Self-Concept Career and Education Development The Lampo Group LLC 1

2 Students reflect on and/or analyze interests, skills, habits of mind, and experiences to maintain a positive self-concept and to aid them in making career and life decisions The Lampo Group LLC 2

3 A2 Beliefs and Behaviors that Lead to Success Students demonstrate and evaluate strategies to improve their personal traits, behaviors, and the belief that one can successfully complete tasks/goals required for success in career and school. A3 Interpersonal Skills Students demonstrate behaviors that reflect positive interpersonal skills and evaluate successful strategies that improve positive interpersonal skills in ways that lead to success in a variety of school, work, and community settings. Unit 4, Ch. 10, 11, 12 A4 Career and Life Roles Students demonstrate and evaluate successful strategies for accomplishing tasks, balancing career and life roles, and reducing stress in a variety of school, work, and community settings. Unit 1, Ch. 3 B1 Relationships Among Learning, Work, the Community, and the Global Economy Students evaluate strategies for improving educational achievement, increasing participation as an involved citizen, and increasing work options and earning potential in a 21st century global economy., 12 B2 Skills for Individual/Personal Success in the 21st Century Students evaluate strategies to improve skills that lead to lifelong learning and success in the classroom, and the achievement of schoolwork, work and career, and personal life goals. Unit 4, Ch. 10, 11 B3 Education and Career Information Students use previously acquired knowledge and skills to evaluate and utilize a variety of resources to articulate a plan and make decisions for post-secondary education, training, and career choices. C1 The Planning Process Students use the planning process to make school-to-school and school-to-work decisions. C2 Decision- Making Students determine and apply effective decision-making strategies for accomplishing shortterm and long-term goals related to school-to-school and school-to-work decisions The Lampo Group LLC 3

4 C3 Influences on Decision-Making Students examine sources of information that influence their career and education decisionmaking. C4 Societal Needs and Changes that Influence Workplace Success Students analyze and evaluate strategies for addressing diverse and changing societal and global economic needs that influence personal decision- making for workplace success. Financial Responsibility and Decision Making Standard 1: The student will apply reliable information and systematic decision making to personal financial decisions. Take responsibility for personal financial decisions. Unit 1, 2, 3, 4 Find and evaluate financial information from a variety of sources. Unit 1, Ch. 2, 3 Unit 2, Ch. 4 Summarize major consumer protection laws. Unit 2, Ch. 4, 6 Unit 3, Ch. 7, 9 Make financial decisions by systematically considering alternatives and consequences. Unit 1, 2, 3, 4 Develop communication strategies for discussing financial issues. Unit 1, Ch. 1 Unit 4, Ch. 10 Control personal information Unit 1, Ch. 3 Unit 2, Ch. 4 Unit 3, Ch. 9 Income and Careers Standard 2: The student will use a career plan to develop personal income potential. Explore career options Identify sources of personal income. Describe factors affecting take-home pay The Lampo Group LLC 4

5 Planning and Money Management Standard 3: The student will understand how to organize personal finances and use a budget to manage cash flow. Develop a plan for spending and saving. Unit 1, 2, 3, 4 Budget Builder Develop a system for keeping and using financial records. Unit 1, Ch. 3 Describe how to use different payment methods. Unit 1, Ch. 3 Unit 2, Ch. 4 Apply consumer skills to purchase decisions. Unit 1, Ch. 3 Unit 2, Ch. 4, 6 Unit 3, Ch. 7, 9 Consider charitable giving. Unit 4, Ch. 12 Develop a personal financial plan. Unit 1, 2, 3, 4 Budget Builder Examine the purpose and importance of a will Unit 3, Ch. 9 Credit and Debt Standard 4: The student will understand how to maintain creditworthiness, borrow at favorable terms, and manage debt. Identify the costs and benefits of various types of credit. Unit 1, Ch. 1 Unit 2, Ch. 4, 5, 6 Explain the purpose of a credit record and identify borrowers' credit report rights. Unit 2, Ch. 4 Describe ways to avoid or correct debt problems. Unit 1, Ch. 2, 3 Unit 2, Ch. 4, 5 Summarize major consumer credit laws. Unit 2, Ch. 4 Risk Management and Insurance Standard 5: The student will understand how to use appropriate and cost-effective risk management strategies. Identify common types of risks and basic risk management methods. Unit 3, Ch. 9 Explain the purpose and importance of property and liability insurance protection. Unit 3, Ch The Lampo Group LLC 5

6 Explain the purpose and importance of health, disability, and life insurance protection., 9 Saving and Investing Standard 6: The student will understand how to implement a diversified investment strategy that is compatible with personal goals. Implement a diversified investment strategy that is compatible with personal goals. Unit 1, Ch. 2 Discuss how saving contributes to financial well-being. Unit 1, Ch. 2 Explain how investing builds wealth and helps meet financial goals Unit 1, Ch. 2, 3 Unit 2, Ch. 6 Evaluate investment alternatives. Describe how to buy and sell investments. Explain how taxes affect the rate of return on investments. Unit 1, Ch. 2 Investigate how agencies that regulate financial markets protect investors The Lampo Group LLC 6