Economics with Financial Literacy (#2102335) 


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The course was/will be terminated at the end of School Year 2023 - 2024

Course Standards

Name Description
SS.912.E.1.1: Identify the factors of production and why they are necessary for the production of goods and services.
SS.912.E.1.2: Analyze production possibilities curves to explain choice, scarcity, and opportunity costs.
SS.912.E.1.3: Compare how the various economic systems (traditional, market, command, mixed) answer the questions: (1) What to produce?; (2) How to produce?; and (3) For whom to produce?
SS.912.E.1.4: Define supply, demand, quantity supplied,and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place.
SS.912.E.1.5: Compare different forms of business organizations.
SS.912.E.1.6: Compare the basic characteristics of the four market structures (monopoly, oligopoly, monopolistic competition, pure competition).
SS.912.E.1.7: Graph and explain how firms determine price and output through marginal cost analysis.
SS.912.E.1.8: Explain ways firms engage in price and nonprice competition.
SS.912.E.1.9: Describe how the earnings of workers are determined.
SS.912.E.1.10: Explain the use of fiscal policy (taxation, spending) to promote price stability, full employment, and economic growth.
SS.912.E.1.11: Explain how the Federal Reserve uses the tools of monetary policy (discount rate, reserve requirement, open market operations) to promote price stability, full employment, and economic growth.
SS.912.E.1.12: Examine the four phases of the business cycle (peak, contraction - unemployment, trough, expansion - inflation).
SS.912.E.1.13: Explain the basic functions and characteristics of money, and describe the composition of the money supply in the United States.
SS.912.E.1.14: Compare credit, savings, and investment services available to the consumer from financial institutions.
SS.912.E.1.15: Describe the risk and return profiles of various investment vehicles and the importance of diversification.
SS.912.E.1.16: Construct a one-year budget plan for a specific career path including expenses and construction of a credit plan for purchasing a major item.
SS.912.E.2.1: Identify and explain broad economic goals.
SS.912.E.2.2: Use a decision-making model to analyze a public policy issue affecting the student's community that incorporates defining a problem, analyzing the potential consequences, and considering the alternatives.
SS.912.E.2.3: Research contributions of entrepreneurs, inventors, and other key individuals from various gender, social, and ethnic backgrounds in the development of the United States.
SS.912.E.2.4: Diagram and explain the problems that occur when government institutes wage and price controls, and explain the rationale for these controls.
SS.912.E.2.5: Analyze how capital investments may impact productivity and economic growth.
SS.912.E.2.6: Examine the benefits of natural monopolies and the purposes of government regulation of these monopolies.
SS.912.E.2.7: Identify the impact of inflation on society.
SS.912.E.2.8: Differentiate between direct and indirect taxes, and describe the progressivity of taxes (progressive, proportional, regressive).
SS.912.E.2.9: Analyze how changes in federal spending and taxation affect budget deficits and surpluses and the national debt.
SS.912.E.2.10: Describe the organization and functions of the Federal Reserve System.
SS.912.E.2.11: Assess the economic impact of negative and positive externalities on the local, state, and national environment.
SS.912.E.2.12: Construct a circular flow diagram for an open-market economy including elements of households, firms, government, financial institutions, product and factor markets, and international trade.
SS.912.E.3.1: Demonstrate the impact of inflation on world economies.
SS.912.E.3.2: Examine absolute and comparative advantage, and explain why most trade occurs because of comparative advantage.
SS.912.E.3.3: Discuss the effect of barriers to trade and why nations sometimes erect barriers to trade or establish free trade zones.
SS.912.E.3.4: Assess the economic impact of negative and positive externalities on the international environment.
SS.912.E.3.5: Compare the current United States economy with other developed and developing nations.
SS.912.E.3.6: Differentiate and draw conclusions about historical economic thought theorized by economists.
SS.912.G.2.2: Describe the factors and processes that contribute to the differences between developing and developed regions of the world.
SS.912.G.3.3: Use geographic terms and tools to explain differing perspectives on the use of renewable and non-renewable resources in Florida, the United States, and the world.
SS.912.G.4.4: Use geographic terms and tools to analyze case studies of issues in globalization.
MA.K12.MTR.1.1: Actively participate in effortful learning both individually and collectively.  

Mathematicians who participate in effortful learning both individually and with others: 

  • Analyze the problem in a way that makes sense given the task. 
  • Ask questions that will help with solving the task. 
  • Build perseverance by modifying methods as needed while solving a challenging task. 
  • Stay engaged and maintain a positive mindset when working to solve tasks. 
  • Help and support each other when attempting a new method or approach.

 

Clarifications:
Teachers who encourage students to participate actively in effortful learning both individually and with others:
  • Cultivate a community of growth mindset learners. 
  • Foster perseverance in students by choosing tasks that are challenging. 
  • Develop students’ ability to analyze and problem solve. 
  • Recognize students’ effort when solving challenging problems.
MA.K12.MTR.2.1: Demonstrate understanding by representing problems in multiple ways.  

Mathematicians who demonstrate understanding by representing problems in multiple ways:  

  • Build understanding through modeling and using manipulatives.
  • Represent solutions to problems in multiple ways using objects, drawings, tables, graphs and equations.
  • Progress from modeling problems with objects and drawings to using algorithms and equations.
  • Express connections between concepts and representations.
  • Choose a representation based on the given context or purpose.
Clarifications:
Teachers who encourage students to demonstrate understanding by representing problems in multiple ways: 
  • Help students make connections between concepts and representations.
  • Provide opportunities for students to use manipulatives when investigating concepts.
  • Guide students from concrete to pictorial to abstract representations as understanding progresses.
  • Show students that various representations can have different purposes and can be useful in different situations. 
MA.K12.MTR.3.1: Complete tasks with mathematical fluency. 

Mathematicians who complete tasks with mathematical fluency:

  • Select efficient and appropriate methods for solving problems within the given context.
  • Maintain flexibility and accuracy while performing procedures and mental calculations.
  • Complete tasks accurately and with confidence.
  • Adapt procedures to apply them to a new context.
  • Use feedback to improve efficiency when performing calculations. 
Clarifications:
Teachers who encourage students to complete tasks with mathematical fluency:
  • Provide students with the flexibility to solve problems by selecting a procedure that allows them to solve efficiently and accurately.
  • Offer multiple opportunities for students to practice efficient and generalizable methods.
  • Provide opportunities for students to reflect on the method they used and determine if a more efficient method could have been used. 
MA.K12.MTR.4.1: Engage in discussions that reflect on the mathematical thinking of self and others. 

Mathematicians who engage in discussions that reflect on the mathematical thinking of self and others:

  • Communicate mathematical ideas, vocabulary and methods effectively.
  • Analyze the mathematical thinking of others.
  • Compare the efficiency of a method to those expressed by others.
  • Recognize errors and suggest how to correctly solve the task.
  • Justify results by explaining methods and processes.
  • Construct possible arguments based on evidence. 
Clarifications:
Teachers who encourage students to engage in discussions that reflect on the mathematical thinking of self and others:
  • Establish a culture in which students ask questions of the teacher and their peers, and error is an opportunity for learning.
  • Create opportunities for students to discuss their thinking with peers.
  • Select, sequence and present student work to advance and deepen understanding of correct and increasingly efficient methods.
  • Develop students’ ability to justify methods and compare their responses to the responses of their peers. 
MA.K12.MTR.5.1: Use patterns and structure to help understand and connect mathematical concepts. 

Mathematicians who use patterns and structure to help understand and connect mathematical concepts:

  • Focus on relevant details within a problem.
  • Create plans and procedures to logically order events, steps or ideas to solve problems.
  • Decompose a complex problem into manageable parts.
  • Relate previously learned concepts to new concepts.
  • Look for similarities among problems.
  • Connect solutions of problems to more complicated large-scale situations. 
Clarifications:
Teachers who encourage students to use patterns and structure to help understand and connect mathematical concepts:
  • Help students recognize the patterns in the world around them and connect these patterns to mathematical concepts.
  • Support students to develop generalizations based on the similarities found among problems.
  • Provide opportunities for students to create plans and procedures to solve problems.
  • Develop students’ ability to construct relationships between their current understanding and more sophisticated ways of thinking.
MA.K12.MTR.6.1: Assess the reasonableness of solutions. 

Mathematicians who assess the reasonableness of solutions: 

  • Estimate to discover possible solutions.
  • Use benchmark quantities to determine if a solution makes sense.
  • Check calculations when solving problems.
  • Verify possible solutions by explaining the methods used.
  • Evaluate results based on the given context. 
Clarifications:
Teachers who encourage students to assess the reasonableness of solutions:
  • Have students estimate or predict solutions prior to solving.
  • Prompt students to continually ask, “Does this solution make sense? How do you know?”
  • Reinforce that students check their work as they progress within and after a task.
  • Strengthen students’ ability to verify solutions through justifications. 
MA.K12.MTR.7.1: Apply mathematics to real-world contexts. 

Mathematicians who apply mathematics to real-world contexts:

  • Connect mathematical concepts to everyday experiences.
  • Use models and methods to understand, represent and solve problems.
  • Perform investigations to gather data or determine if a method is appropriate. • Redesign models and methods to improve accuracy or efficiency. 
Clarifications:
Teachers who encourage students to apply mathematics to real-world contexts:
  • Provide opportunities for students to create models, both concrete and abstract, and perform investigations.
  • Challenge students to question the accuracy of their models and methods.
  • Support students as they validate conclusions by comparing them to the given situation.
  • Indicate how various concepts can be applied to other disciplines.
ELA.K12.EE.1.1: Cite evidence to explain and justify reasoning.
Clarifications:
K-1 Students include textual evidence in their oral communication with guidance and support from adults. The evidence can consist of details from the text without naming the text. During 1st grade, students learn how to incorporate the evidence in their writing.

2-3 Students include relevant textual evidence in their written and oral communication. Students should name the text when they refer to it. In 3rd grade, students should use a combination of direct and indirect citations.

4-5 Students continue with previous skills and reference comments made by speakers and peers. Students cite texts that they’ve directly quoted, paraphrased, or used for information. When writing, students will use the form of citation dictated by the instructor or the style guide referenced by the instructor. 

6-8 Students continue with previous skills and use a style guide to create a proper citation.

9-12 Students continue with previous skills and should be aware of existing style guides and the ways in which they differ.

ELA.K12.EE.2.1: Read and comprehend grade-level complex texts proficiently.
Clarifications:
See Text Complexity for grade-level complexity bands and a text complexity rubric.
ELA.K12.EE.3.1: Make inferences to support comprehension.
Clarifications:
Students will make inferences before the words infer or inference are introduced. Kindergarten students will answer questions like “Why is the girl smiling?” or make predictions about what will happen based on the title page. Students will use the terms and apply them in 2nd grade and beyond.
ELA.K12.EE.4.1: Use appropriate collaborative techniques and active listening skills when engaging in discussions in a variety of situations.
Clarifications:
In kindergarten, students learn to listen to one another respectfully.

In grades 1-2, students build upon these skills by justifying what they are thinking. For example: “I think ________ because _______.” The collaborative conversations are becoming academic conversations.

In grades 3-12, students engage in academic conversations discussing claims and justifying their reasoning, refining and applying skills. Students build on ideas, propel the conversation, and support claims and counterclaims with evidence.

ELA.K12.EE.5.1: Use the accepted rules governing a specific format to create quality work.
Clarifications:
Students will incorporate skills learned into work products to produce quality work. For students to incorporate these skills appropriately, they must receive instruction. A 3rd grade student creating a poster board display must have instruction in how to effectively present information to do quality work.
ELA.K12.EE.6.1: Use appropriate voice and tone when speaking or writing.
Clarifications:
In kindergarten and 1st grade, students learn the difference between formal and informal language. For example, the way we talk to our friends differs from the way we speak to adults. In 2nd grade and beyond, students practice appropriate social and academic language to discuss texts.
ELD.K12.ELL.SI.1: English language learners communicate for social and instructional purposes within the school setting.
ELD.K12.ELL.SS.1: English language learners communicate information, ideas and concepts necessary for academic success in the content area of Social Studies.
HE.912.C.2.4 (Archived Standard): Evaluate how public health policies and government regulations can influence health promotion and disease prevention.



General Course Information and Notes

General Notes

Economics - The grade 9-12 Economics course consists of the following content area strands: Economics and Geography. The primary content emphasis for this course pertains to the study of the concepts and processes of the national and international economic systems. Content should include, but is not limited to, currency, banking, and monetary policy, the fundamental concepts relevant to the major economic systems, the global market and economy, major economic theories and economists, the role and influence of the government and fiscal policies, economic measurements, tools, and methodology, financial and investment markets, and the business cycle.

Special Notes:
Instructional Practices
Teaching from well-written, grade-level instructional materials enhances students' content area knowledge and also strengthens their ability to comprehend longer, complex reading passages on any topic for any reason. Using the following instructional practices also helps student learning:

  1. Reading assignments from longer text passages as well as shorter ones when text is extremely complex.
  2. Making close reading and rereading of texts central to lessons.
  3. Asking high-level, text-specific questions and requiring high-level, complex tasks and assignments.
  4. Requiring students to support answers with evidence from the text.
  5. Providing extensive text-based research and writing opportunities (claims and evidence).

Florida’s Benchmarks for Excellent Student Thinking (B.E.S.T.) Standards
This course includes Florida’s B.E.S.T. ELA Expectations (EE) and Mathematical Thinking and Reasoning Standards (MTRs) for students. Florida educators should intentionally embed these standards within the content and their instruction as applicable. For guidance on the implementation of the EEs and MTRs, please visit https://www.cpalms.org/Standards/BEST_Standards.aspx and select the appropriate B.E.S.T. Standards package.

English Language Development ELD Standards Special Notes Section:
Teachers are required to provide listening, speaking, reading and writing instruction that allows English language learners (ELL) to communicate information, ideas and concepts for academic success in the content area of Social Studies. For the given level of English language proficiency and with visual, graphic, or interactive support, students will interact with grade level words, expressions, sentences and discourse to process or produce language necessary for academic success. The ELD standard should specify a relevant content area concept or topic of study chosen by curriculum developers and teachers which maximizes an ELL’s need for communication and social skills. To access an ELL supporting document which delineates performance definitions and descriptors, please click on the following link: https://cpalmsmediaprod.blob.core.windows.net/uploads/docs/standards/eld/ss.pdf

Additional Instructional Resources:
A.V.E. for Success Collection is provided by the Florida Association of School Administrators: http://www.fasa.net/4DCGI/cms/review.html?Action=CMS_Document&DocID=139. Please be aware that these resources have not been reviewed by CPALMS and there may be a charge for the use of some of them in this collection.

Finance Your Future

The Division of Consumer Services at the Florida Department of Financial Services offers a free financial literacy resource designed for middle and high students. Finance Your Future is comprised of eight main modules on the topics of: Budgeting & Saving, Credit Cards, Banking, Credit Report & Score, Debt, Frauds & Scams, Insurance & Benefits and Life Events. Each module includes lessons, activities, games and a comprehensive knowledge check at the end. Visit the Finance Your Future website to access this resource. It should be noted that this resource does not include all of the financial literacy content needed to satisfy the standard high school diploma requirement per s. 1003.4282, Florida Statutes. A crosswalk of Financial Literacy standards and benchmarks can be found here.


General Information

Course Number: 2102335 Course Path: Section: Grades PreK to 12 Education Courses > Grade Group: Grades 9 to 12 and Adult Education Courses > Subject: Social Studies > SubSubject: Economics & Finance >
Abbreviated Title: ECON FIN LIT
Number of Credits: Half credit (.5)
Course Attributes:
  • Class Size Core Required
  • Florida Standards Course
Course Type: Core Academic Course Course Level: 2
Course Status: Terminated
Grade Level(s): 9,10,11,12
Graduation Requirement: Economics



Educator Certifications

Economics (Grades 6-12)
Social Science (Grades 5-9)
History (Grades 6-12)
Social Science (Grades 6-12)


State Adopted Instructional Materials

Contemporary Economics Florida Edition
William A. McEachern - Cengage Learning - 1st - 2024
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Economics with Financial Literacy, Florida Edition
Gary E. Clayton, Ph.D. - McGraw Hill LLC - 1 - 2024
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Florida Economics Interactive
O'Sullivan, Dr. Arthur and Sheffrin, Dr. Steven M. - Savvas Learning Company LLC - 1 - 2024
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There are more than 1818 related instructional/educational resources available for this on CPALMS. Click on the following link to access them: https://www.cpalms.org/PreviewCourse/Preview/21679