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Prentice HallEconomics: Principles in Action(O'Sullivan/Sheffrin) © 2007

C O R R E L A T E D T O

Indiana Academic Standards - Social Studies – Economics

High School

Prentice Hall Economics: Principles in Action (O'Sullivan/Sheffrin) © 2007 Correlated to:

Indiana Academic Standards - Social Studies – Economics (High School)

SE = Student Edition TE = Teacher's Edition TR = Teaching Resources TECH = Technology 1

INDIANA ACADEMIC STANDARDS - SOCIAL STUDIES - ECONOMICS

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Standard 1 - Scarcity and Economic Reasoning

Students will understand that productive resources are limited; therefore, people, institutions and governments cannot have all the goods and services they want. As a result, people, institutions and governments must choose some things and give up others.

E.1.1 Define each of the productive resources (natural, human, capital) and explain why they are necessary for the production of goods and services. (Geography)

SE/TE: 4-6, 8, 15, 20, 21, 24, 29, 320, 441, 442, 480, 481, 497, 532, 533

TR: Prentice Hall: Learning Style Lesson Plan Folder: 7; Prentice Hall: Unit 1 Folder: 2, 3, 11

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 1 Test; Prentice Hall: Transparency Resource Package: 1A; Economics Videotape Library: “Groovin Business”; Prentice Hall: Companion Web Site

E.1.2 Explain how consumers and producers confront the condition of scarcity by making choices which involve opportunity costs and tradeoffs.

SE/TE: 8-11, 13-16, 18-21, 23, 24, 37, 41, 44, 64, 68, 109, 443, 444, 554

TR: Prentice Hall: Learning Style Lesson Plan Folder: 8; Prentice Hall: Lesson Plans Folder: 8; Prentice Hall: Unit 1 Folder: 4, 5, 8, 12

TECH: Prentice Hall: Transparency Resource Package: 1B; Presentation Pro CD-ROM; Prentice Hall: Companion Web Site

E.1.3 Explain the important role of the entrepreneur in taking the risk to combine productive resources to produce goods and services.

SE/TE: 5, 6, 31, 32, 52, 53, 55, 72, 89, 97, 101, 102, 112, 113, 115, 138, 143, 144, 162, 163, 165, 169, 186, 187, 188, 189, 191, 205, 208, 209, 219, 257, 271, 276, 344, 491

TR: Case Studies in Free Enterprise Folder: 8, 9; Prentice Hall: Unit 2 Folder: 10

TECH: Presentation Pro CD-ROM; Prentice Hall: Companion Web Site

E.1.4 Describe how people respond predictably to positive and negative incentives.

SE/TE: 15, 25, 30, 31, 37, 59, 60, 79, 80, 103, 139-140, 144, 423








E.1.5 Explain that voluntary exchange occurs when all participating parties expect to gain.

SE/TE: 28, 29, 47, 441-447, 466, 467

TR: Prentice Hall: Lesson Plans Folder: 61; Prentice Hall: Unit 7 Folder: 2, 3, 8

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 17 Test; Prentice Hall: Transparency Resource Package: 17A-17C; Prentice Hall: Companion Web Site

E.1.6 Compare and contrast how the various economic systems (traditional, market, command, mixed) answer the questions: What to produce? How to produce it? For whom to produce?.

SE/TE: 22-27, 28-33, 34-39, 40-44, 46, 47, 48, 49, 299, 489-491, 493

TR: Prentice Hall: Learning Style Lesson Plan Folder: 9, 10; Prentice Hall: Lesson Plans Folder: 10, 11, 12, 13; Prentice Hall: Unit 1 Folder: 15-24

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 2 Test; Prentice Hall: Transparency Resource Package: 2C-2F; Prentice Hall: Companion Web Site

E.1.7 Describe how clearly defined and enforced property rights are essential to a market economy. (Government)

SE/TE: 41, 44, 52, 53, 55, 72, 490, 491

TR: Prentice Hall: Lesson Plans Folder: 14; Prentice Hall: Unit 1 Folder: 26, 27

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 3 Test; Prentice Hall: Transparency Resource Package: 3A; Prentice Hall: Companion Web Site

E.1.8 Use a production possibilities curve to explain the concepts of choice, scarcity, opportunity cost, tradeoffs, unemployment, productivity and growth.

SE/TE: 13-18, 20, 21







TR: Prentice Hall: Lesson Plans Folder: 9; Prentice Hall: Unit 1 Folder: 6, 7, 9, 10

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 1 Test; Prentice Hall: Transparency Resource Package: 1C-1D; Prentice Hall: Companion Web Site

E.1.9 Diagram and explain a Circular Flow Model of a market economy, showing households and businesses as decision makers, resource and money flows, and the three basic markets – product, productive resources and financial markets.

SE/TE: 29-30, 32, 42-43, 47, 303

TR: Prentice Hall: Learning Style Lesson Plan Folder: 9, 10; Prentice Hall: Lesson Plans Folder: 11, 13; Prentice Hall: Unit 1 Folder: 15, 16, 19-24

TECH: Presentation Pro CD-ROM; Prentice Hall: Transparency Resource Package: 2D, 2F; Prentice Hall: Companion Web Site

Standard 2 - Supply and Demand

Students will understand the role that supply and demand, prices, and profits play in determining production and distribution in a market economy.

E.2.1 Define supply and demand. SE/TE: 79-83, 98, 99, 101-106, 122, 123

TR: Prentice Hall: Learning Style Lesson Plan Folder: 13; Prentice Hall Lesson Plans Folder: 18, 21; Prentice Hall: Unit 2 Folder: 2, 3, 8, 13, 14, 19, 23

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 4, 5 Test; Prentice Hall: Transparency Resource Package: 4A-4B, 5A-5C; Prentice Hall: Companion Web Site

E.2.2 Identify factors that cause changes in market supply and demand.

SE/TE: 85-88, 98, 99, 116-120, 122, 123, 133-137, 146, 147







TR: Prentice Hall: Learning Style Lesson Plan Folder: 14; Prentice Hall Lesson Plans Folder: 19, 23, 25; Prentice Hall: Unit 2 Folder: 4, 17, 18, 21, 26, 27

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 4, 5, 6 Test; Prentice Hall: Transparency Resource Package: 4C, 4D, 5G, 6H-6M; Prentice Hall: Companion Web Site

E.2.3 Describe the role of buyers and sellers in determining the equilibrium price.

SE/TE: 125-131, 135, 136, 137, 146, 147, 154, 221, 222, 223, 312, 313, 363, 389, 391

TR: Prentice Hall: Learning Style Lesson Plan Folder: 17; Prentice Hall: Lesson Plans Folder: 24; Prentice Hall: Unit 2 Folder: 24, 25, 30

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 6 Test; Prentice Hall: Transparency Resource Package: 6A, 6B; Prentice Hall: Companion Web Site

E.2.4 Describe how prices send signals to buyers and sellers.

SE/TE: 90, 91, 94, 113, 119, 120, 139-144, 146, 147, 338, 339

TR: Prentice Hall: Learning Style Lesson Plan Folder: 18; Prentice Hall Lesson Plans Folder: 26; Prentice Hall: Unit 2 Folder: 28, 29, 31, 32

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 6 Test; Prentice Hall: Transparency Resource Package: 6N; Prentice Hall: Companion Web Site

E.2.5 Recognize that consumers ultimately determine what is produced in a market economy (consumer sovereignty).

SE/TE: 32, 53, 54, 549, 560

TECH: Presentation Pro CD-ROM; Companion Web Site

E.2.6 Demonstrate how supply and demand determine equilibrium price and quantity in the product, resource and financial markets.

SE/TE: 125-131, 135, 136, 137, 146, 147, 154, 221, 222, 223, 246, 312, 313, 363, 389, 391









E.2.7 Demonstrate how changes in supply and demand influence equilibrium price and quantity in the product, resource, and financial markets.

SE/TE: 133-137, 146, 147, 312, 313, 363, 389, 391


TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 6 Test; Prentice Hall: Transparency Resource Package: 6H-6M; Prentice Hall: Companion Web Site

E.2.8 Describe how the earnings of workers are determined by the market value of the product produced and workers’ productivity.

SE/TE: 214, 216, 217, 219-226, 236, 237


TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 9 Test; Prentice Hall: Transparency Resource Package: 9B, 9E; Prentice Hall: Companion Web Site

E.2.9 Demonstrate how government wage and price controls, such as rent controls and minimum wage laws, create shortages and surpluses. (Government)

SE/TE: 128-131, 146, 147, 224, 238, 239


TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 4 Test; Prentice Hall: Transparency Resource Package: 6E-6G; Prentice Hall: Companion Web Site







E.2.10 Use concepts of price elasticity of demand and supply to explain and predict changes in quantity as price changes.

SE/TE: 90-96, 98, 99, 104-106, 122, 123

TR: Prentice Hall: Learning Plans Folder: 20, 21; Prentice Hall: Unit 2 Folder: 6, 7, 9, 10, 13, 14, 19, 23

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 4 Test; Prentice Hall: Transparency Resource Package: 4E; Prentice Hall: Companion Web Site

E.2.11 Illustrate how investment in factories; machinery; new technology; and the health, education and training of people increases productivity and raises future standards of living. (Individuals, Society and Culture)

SE/TE: 16, 18, 17, 24, 26, 59, 60, 73, 117, 158, 159, 213, 214, 220-222, 235, 320-325, 328, 329, 333, 474, 480-483, 485-488, 537


TECH: Presentation Pro CD-ROM; Prentice Hall: Transparency Resource Package: 12G; Prentice Hall: Companion Web Site

Standard 3 - Market Structures

Students will understand the organization and role of business firms and analyze the various types of market structures in the United States economy.

E.3.1 Compare and contrast the following forms of business organization: sole proprietorship, partnership and corporation.

SE/TE: 184-188, 190-193, 195-200, 206, 207, 456

TR: Prentice Hall: Learning Style Lesson Plan Folder: 21, 22; Prentice Hall: Lesson Plans Folder: 31, 32, 33; Prentice Hall: Unit 3 Folder: 2-11, 12-14

TECH: Presentation Pro CD-ROM; Prentice Hall: Transparency Resource Package: 8A-8E; Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 8 Test; Prentice Hall: Companion Web Site







E.3.2 Identify the three basic ways that firms finance operations (retained earnings, stock issues and borrowing) and explain the advantages and disadvantages of each.

SE/TE: 188, 196, 197, 277-283, 286, 294, 295


TECH: : Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 11 Test; Prentice Hall: Transparency Resource Package: 11C; Prentice Hall: Companion Web Site

E.3.3 Recognize that economic institutions, such as labor unions, nonprofit organizations and cooperatives, evolve in market economies to help members and clients accomplish their goals. (Government; Individuals, Society and Culture)

SE/TE: 176, 192, 201-204, 225, 226, 228-234, 236, 237, 262-264, 265, 266, 267,

TR: Prentice Hall: Learning Style Lesson Plan Folder: 24; Prentice Hall: Lesson Plans Folder: 34, 37; Prentice Hall: Unit 3 Folder: 8, 9, 11, 12, 19, 20, 25

TECH: : Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 8, 9 Test; Prentice Hall: Transparency Resource Package: 8F, 9F, 9G; Prentice Hall: Companion Web Site

E.3.4 Identify the basic characteristics of the four market structures: monopoly, oligopoly, monopolistic competition and pure competition.

SE/TE: 151-154, 156-164, 166-171, 173-176, 178-179

TR: Prentice Hall: Lesson Plans Folder: 27, 28, 29, 30; Prentice Hall: Unit 2 Folder: 35-44, 45- 47

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 7 Test; Prentice Hall: Transparency Resource Package: 7A-7I; Prentice Hall: Companion Web Site

E.3.5 Explain how competition among many sellers lowers costs and prices.

SE/TE: 31, 32, 33, 52, 53, 55, 73, 151-154, 156, 160-164, 166-171, 178, 179







TR: Prentice Hall: Lesson Plans Folder: 27-29; Prentice Hall: Unit 2 Folder: 35, 37, 38, 39, 40

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 7 Test; Prentice Hall: Transparency Resource Package: 7A, 7B, 7C, 7D, 7E, 7F, 7G, 7H; Prentice Hall: Companion Web Site

E.3.6 Demonstrate how firms determine price and output through marginal analysis.

SE/TE: 8, 10, 11, 21, 108-114, 116, 120, 122, 123, 161, 162

TR: Prentice Hall: Lesson Plans Folder: 8, 22; Prentice Hall: Unit 1 Folder: 5, Unit 2 Folder: 15, 16, 22

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 1 Test; Prentice Hall: Transparency Resource Package: 1B, 5D; Test Bank CD-ROM: Chapter 5 Test; Prentice Hall: Companion Web Site

E.3.7 Explain ways that firms engage in price and non-price competition.

SE/TE: 31, 32, 33, 52, 53, 55, 73, 151-154, 156-164, 166-171, 178, 179

TR: Prentice Hall: Lesson Plans Folder: 27-29; Prentice Hall: Unit 2 Folder: 35, 37, 38, 39, 40

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 7 Test; Prentice Hall: Transparency Resource Package: 7A, 7B, 7C, 7D, 7E, 7F, 7G, 7H; Prentice Hall: Companion Web Site

E.3.8 Identify laws and regulations adopted in the United States to promote competition among firms. (Government)

SE/TE: 172-176, 177, 178, 179, 198


TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 7 Test; Prentice Hall: Transparency Resource Package: 7I; Prentice Hall: Companion Web Site







E.3.9 Explain the function of profit in a market economy as an incentive for entrepreneurs to accept the risks of business failure.

SE/TE: 29, 30, 31, 32, 52, 53, 55, 101, 102, 112, 113, 143, 162, 163, 169, 187, 219, 271


E.3.10 Describe the benefits of natural monopolies (economies of scale) and the purposes of government regulation of these monopolies, such as utilities. (Government)

SE/TE: 157, 158, 164, 178



E.3.11 Explain how cartels affect product price and output.

SE/TE: 171, 173, 179


Standard 4 - The Role of Government

Students will understand that typical microeconomic roles of government in a market or mixed economy are the provision of public goods and services, redistribution of income, protection of property rights, and resolution of market failures.

E.4.1 Explain the basic functions of government in a market economy. (Government)

SE/TE: 21, 26, 27, 34-38, 40-44, 46, 47, 51, 54, 55, 57-60, 62-66, 67-70, 71, 72, 73, 117-119, 128-131, 142, 159-160, 173-176, 224, 254, 255, 301-306, 310-316, 321, 322, 326, 327, 338-343, 349-350, 352, 353, 359-363, 365-369, 371-374, 375-380, 382, 383, 387-393, 395-401, 403-408, 410, 411, 412, 415-418, 420-423, 425-429, 430-434, 436, 437

TR: Prentice Hall: Learning Style Lesson Plan Folder: 10, 11, 12, 29, 31, 33-38; Prentice Hall: Lesson Plans Folder: 12, 13, 44, 45, 47, 50, 51, 59, 60; Prentice Hall: Unit 1 Folder: 17, 18, 19, 20, 28, 30, 31, 32, 33, 38; Prentice Hall: Unit 5 Folder: 2, 3, 4, 5, 8, 11-13, 14, 19; Prentice Hall: Unit 6 Folder: 2-11, 12-21, 22-31, 32-38







TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 3, 12, 14, 15, 16 Test; Prentice Hall: Transparency Resource Package: 2E, 2F, 3D, 12A-12E, 13A-13C, 14A-14G, 15A-15G, 16A-16H; Economics Videotape Library: “Forced Out”; Prentice Hall: Companion Web Site

E.4.2 Explain how markets produce too few public goods and how the government determines the amount to produce through looking at benefits and costs.

SE/TE: 34-38, 40-44, 46, 47, 51-55, 57-60, 62-66, 67-70, 72, 73, 371-374, 375-380, 382, 383

TR: Prentice Hall: Learning Style Lesson Plan Folder: 10, 12, 34; Prentice Hall: Lesson Plans Folder: 12-17, 52, 53; Prentice Hall: Unit 1 Folder: 17-23, 26-37; Prentice Hall: Unit 6 Folder: 6, 7, 8, 9, 11, 12

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 2, 3, 14 Test; Prentice Hall: Transparency Resource Package: 2E, 2F, 3A-3D, 14F, 14G; Prentice Hall: Companion Web Site

E.4.3 Describe how the government taxing harmful spillovers* and subsidizing helpful spillovers helps to resolve the inefficiency they cause.

SE/TE: 62-66, 71, 72, 73, 142-144, 551

TR: Prentice Hall: Learning Style Lesson Plan Folder; Prentice Hall: Unit 1 Folder: 30, 31

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 3 Test; Prentice Hall: Transparency Resource Package: 3C

* spillover: the impact of an activity (positive or negative) on the well-being of a third party

E.4.4 Describe major revenue and expenditure categories and their respective proportions of local, state and federal budgets. (Government)

SE/TE: 365-369, 375-380, 382, 383, 543

TR: Prentice Hall: Learning Style Lesson Plan Folder: 34; Prentice Hall: Unit 6 Folder: 2, 5, 8, 9







TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 14 Test; Prentice Hall: Transparency Resource Package: 14C, 14D, 14E, 14G; Prentice Hall: Companion Web Site

E.4.5 Explore the ways that tax revenue is used in the community. (Government)

SE/TE: 371-374, 382, 383, 394, 411, 543

TR: Prentice Hall: Lesson Planner: 62; Prentice Hall: Lesson Plans Folder: 51; Prentice Hall: Unit 6 Folder: 4, 5, 13

TECH: Presentation Pro CD-ROM; Prentice Hall: Transparency Resource Package: 14C, 14D, 14E; Prentice Hall: Companion Web Site

E.4.6 Identify taxes paid by students. (Government)

SE/TE: 360, 361, 363, 365-369, 382, 383, 528-531

TR: Prentice Hall: Learning Style Lesson Plan Folder: 33; Prentice Hall: Lesson Plans Folder: 50, 51; Prentice Hall: Unit 6 Folder: 2-5, 10, 13, 14

TECH: : Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 14 Test; Prentice Hall: Transparency Resource Package: 14A-14E; Prentice Hall: Companion Web Site

E.4.7 Define progressive, proportional and regressive taxation. (Government)

SE/TE: 360, 361, 363, 367, 382, 383



E.4.8 Determine whether different types of taxes (including income, sales and social security) are progressive, proportional or regressive. (Government)

SE/TE: 360, 361, 363, 365-369, 382, 383







TR: Prentice Hall: Learning Style Lesson Plan Folder: 33; Prentice Hall: Lesson Plans Folder: 50, 51; Prentice Hall: Unit 6 Folder: 2-5, 10, 13, 14

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 14 Test; Prentice Hall: Transparency Resource Package: 14A-14E; Prentice Hall: Companion Web Site

E.4.9 Describe how costs of government policies may exceed benefits, because social or political goals other than economic efficiency are being pursued. (Government)

SE/TE: 26, 34-38, 64-66, 72, 73, 117-119, 128-131, 142, 349-350, 391-393


TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 3 Test; Prentice Hall: Transparency Resource Package: 3C; Prentice Hall: Companion Web Site

E.4.10 Use an economic decision-making model to analyze a public policy issue. (Government)

SE/TE: 9-11

The foundation of this standard can be found on:

SE/TE: 6, 38, 55, 56, 60, 88, 89, 106, 114, 120, 137, 144, 154, 164, 171, 176, 217, 234, 248, 256, 283, 476, 483, 488

Standard 5 - National Economic Performance

Students will understand the means by which economic performance is measured.

E.5.1 Define aggregate supply and demand, Gross Domestic Product (GDP), economic growth, unemployment, and inflation.

SE/TE: 57, 58, 218, 300-308, 310-316, 318-324, 326, 327, 331-336, 338-342, 351, 352, 353, 399, 404, 431, 471, 472, 538, 540, 548, 550, 552, 556, 558

TR: Prentice Hall: Learning Style Lesson Plan Folder: 29, 30, 31, 32; Prentice Hall: Lesson Plans Folder: 44, 45, 46, 47, 48; Prentice Hall: Unit 5 Folder: 2-10, 11-13, 14, 15, 19, 22, 23







TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 12, 13 Test; Prentice Hall: Transparency Resource Package: 12A-12F, 13A-13F; Prentice Hall: Companion Web Site

E.5.2 Explain how GDP, economic growth, unemployment and inflation are measured.

SE/TE: 302, 303, 304, 308, 318-322, 324, 327, 334, 335, 336, 339-341, 343, 353

TR: Prentice Hall: Learning Style Lesson Plan Folder: 29, 31, 32; Prentice Hall: Lesson Plans Folder: 44, 47, 48; Prentice Hall: Unit 5 Folder: 3, 14, 16

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 12, 13 Test; Prentice Hall: Transparency Resource Package: 12A, 13D, 13E; Prentice Hall: Companion Web Site

E.5.3 Explain the limitations of using GDP to measure economic welfare.

SE/TE: 304, 305, 308, 327, 472

TR: Prentice Hall: Learning Style Lesson Plan Folder: 29; Prentice Hall: Lesson Plans Folder: 42; Prentice Hall: Unit 5 Folder: 2, 3


E.5.4 Explain the four phases of the business cycle (contraction*, trough*, expansion* and peak*).

SE/TE: 57, 310-316, 326, 327, 397, 433, 434, 435


TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 12 Test; Prentice Hall: Transparency Resource Package: 12D; Prentice Hall: Companion Web Site







* contraction: phase of a business cycle in which the economy as a whole is in a decline; occurs after the business cycle peaks

* trough: the phase of the economy’s business cycle that marks the end of a period of declining activity

* expansion: the phase when business activity surges

* peak: the highest point between the end of an economic expansion and the start of a contraction

E.5.5 Analyze the impact of events in United States history, such as wars and technological developments, on business cycles. (History)

SE/TE: 36-39, 54, 55, 59, 68, 69, 71, 87, 94, 95, 102, 103, 118, 119, 121, 127, 141, 159, 172-178, 189, 199, 229-233, 235, 250-256, 267, 289, 290-292, 295, 314-316, 317, 364, 396, 397, 400, 401, 402, 407, 415, 416, 451, 453, 454, 461

TR: Prentice Hall: Learning Style Lesson Plan Folder: 20, 26; Prentice Hall: Lesson Plans Folder: 30, 39; Prentice Hall: Unit 2 Folder: 41, 42, 44, 45; Unit 4 Folder: 4, 5, 11, 12

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 7, 10 Test; Prentice Hall: Companion Web Site

E.5.6 Identify the different causes of inflation and explain who gains and loses because of inflation.

SE/TE: 338-343, 352, 353, 404


TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 13 Test; Prentice Hall: Transparency Resource Package: 13D-13F; Prentice Hall: Companion Web Site

E.5.7 Analyze the impact of inflation on students’ economic decisions.

SE/TE: 338, 339, 343, 353









E.5.8 Illustrate and explain cost-push and demand-pull inflation.

SE/TE: 338, 341-343, 353



E.5.9 Recognize that a country’s overall level of income, employment and prices are determined by the individual spending and production decisions of households, firms and government. (Government; Individuals, Society and Culture)

SE/TE: 301-308, 311-316, 320-322, 326, 327


TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 12, 13 Test; Prentice Hall: Transparency Resource Package: 12A; Prentice Hall: Companion Web Site

E.5.10 Illustrate and explain how the relationship between aggregate supply and aggregate demand is an important determinant of the levels of unemployment and inflation in an economy.

SE/TE: 306-308, 333, 341, 342


TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 12 Test; Prentice Hall: Transparency Resource Package: 12B, 12C; Prentice Hall: Companion Web Site







E.5.11 Compare and contrast solutions for reducing unemployment. (Government)

SE/TE: 69, 70, 335, 336, 350, 351, 353


Standard 6 - Money and the Role of Financial Institutions

Students will understand the role of money and financial institutions in a market economy.

E.6.1 Explain the basic functions of money. SE/TE: 243-248, 266, 267



E.6.2 Identify the composition of the money supply of the United States.

SE/TE: 258, 259, 264, 422, 423


TECH: Presentation Pro CD-ROM; Prentice Hall: Transparency Resource Package: 10C, 10D, 16F; Prentice Hall: Companion Web Site

E.6.3 Explain the role of banks and other financial institutions in the economy of the United States.

SE/TE: 250-257, 259-264, 265, 266, 267, 271-275, 277-283, 285-292, 294, 295, 504-505, 509-513, 514, 515

TR: : Prentice Hall: Learning Style Lesson Plan Folder: 26, 27; Prentice Hall: Lesson Plans Folder: 39, 40, 41, 42, 43; Prentice Hall: Unit 4 Folder: 4, 5, 6, 7, 9-12, 13-23

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 10, 11 Test; Prentice Hall: Transparency Resource Package: 10B-10F, 11A-11E; Prentice Hall: Companion Web Site

E.6.4 Explain how interest rates act as an incentive for savers and borrowers.

SE/TE: 311-313, 343, 421, 422, 423, 430-434, 436, 437







TR: Prentice Hall: Lesson Plans Folder: 60; Prentice Hall: Unit 6 Folder: 32, 33, 35, 36, 38

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 16 Test; Prentice Hall: Transparency Resource Package: 16H; Prentice Hall: Companion Web Site

E.6.5 Describe the organization and functions of the Federal Reserve System. (Government)

SE/TE: 254, 255, 262, 291, 415-418, 421, 422, 423, 424, 425-429, 430-434, 436, 437

TR: Prentice Hall: Learning Style Lesson Plan Folder: 59, 60; Prentice Hall: Lesson Plans Folder: 59, 60; Prentice Hall: Unit 6 Folder: 30, 31, 32, 33, 35, 36, 38

TECH: Prentice Hall: Learning Style Lesson Plan Folder: 59, 60; Prentice Hall: Lesson Plans Folder: 59, 60; Prentice Hall: Unit 6 Folder: 30, 31, 32, 33, 35, 36, 38

E.6.6 Compare and contrast credit, savings and investment services available to the consumer from financial institutions.

SE/TE: 250-256, 258-264, 266, 267, 504-513, 514-521

TR: Prentice Hall: Learning Style Lesson Plan Folder: 26, 27; Prentice Hall: Lesson Plans Folder: 39, 40; Prentice Hall: Unit 4 Folder: 4, 5, 6, 7, 9-12

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 10 Test; Prentice Hall: Transparency Resource Package: 10B-10F; Prentice Hall: Companion Web Site

E.6.7 Demonstrate how banks create money through the principle of fractional reserve banking.

SE/TE: 260-261, 264, 266, 267, 425-427, 429









E.6.8 Research and monitor financial investments, such as stocks, bonds and mutual funds.

SE/TE: 272-275, 277-283, 285-292, 294, 295, 296, 297, 506-509

TR: Prentice Hall: Learning Style Lesson Plan Folder: 27, 28; Prentice Hall: Lesson Plans Folder: 41-43; Prentice Hall: Unit 4 Folder: 13-22, 23

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 11 Test; Prentice Hall: Transparency Resource Package: 11A-11E; Prentice Hall: Companion Web Site

E.6.9 Analyze the difference in borrowing costs using various rates of interest when purchasing a major item, such as a car or house.

SE/TE: 261-264, 506-509, 514, 515


TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 10 Test; Prentice Hall: Transparency Resource Package: 10E, 10F; Prentice Hall: Companion Web Site

E.6.10 Formulate a savings or financial investment plan for a future goal.

SE/TE: 502, 503, 506-509


Standard 7 - Economic Stabilization

Students will understand the macroeconomic role of the government in developing and implementing economic stabilization policies and how these policies impact the economy.

E.7.1 Define and explain fiscal and monetary policy. (Government)

SE/TE: 387-393, 395-401, 408, 410, 411, 412, 417, 418, 423, 425-429, 436, 437

TR: Prentice Hall: Learning Style Lesson Plan Folder: 35, 38; Prentice Hall: Lesson Plans Folder: 59; Prentice Hall: Unit 6 Folder: 15, 16, 17, 30, 31







TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 15, 16 Test; Prentice Hall: Transparency Resource Package: 15A-15E, 16G, 16H; Prentice Hall: Companion Web Site

E.7.2 Define the tools of fiscal and monetary policy. (Government)

SE/TE: 387-391, 408, 410, 411, 412, 425-429, 436, 437


TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 15, 16 Test; Prentice Hall: Transparency Resource Package: 15A-15E, 16H; Prentice Hall: Companion Web Site

E.7.3 Describe the negative impacts of unemployment and unexpected inflation on an economy and how individuals and organizations try to protect themselves. (Individuals, Society and Culture)

SE/TE: 338, 339, 351, 352, 353, 404, 433, 434, 437



E.7.4 Explain how monetary policy affects the level of inflation in the economy.

SE/TE: 341, 342, 433, 434, 437


E.7.5 Analyze how the government uses taxing and spending decisions (fiscal policy) to promote price stability, full employment and economic growth. (Government)

SE/TE: 387-393, 395-401, 408, 410, 411, 412








TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 15 Test; Prentice Hall: Transparency Resource Package: 15A, 15B, 15C, 15D, 15E; Prentice Hall: Companion Web Site

E.7.6 Analyze how the Federal Reserve uses monetary tools to promote price stability, full employment and economic growth. (Government)

SE/TE: 422, 423, 425-429, 430-434, 435, 436, 437


TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 16 Test; Prentice Hall: Transparency Resource Package: 16G, 16H; Prentice Hall: Companion Web Site

E.7.7 Predict possible future effects of the national debt on the individual and the economy. (Government)

SE/TE: 405-408, 410, 411, 542


TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 15 Test; Prentice Hall: Transparency Resource Package: 15F, 15G; Prentice Hall: Companion Web Site

E.7.8 Predict how changes in federal spending and taxation would affect budget deficits and surpluses and the national debt. (Government)

SE/TE: 381, 403-408, 410, 411, 542








TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 15 Test; Prentice Hall: Transparency Resource Package: 15F, 15G; Prentice Hall: Companion Web Site

E.7.9 Explain how a change in monetary or fiscal policy can impact a student’s purchasing decision.

SE/TE: 389-391, 399, 400, 410, 411, 412, 413, 430-432, 436, 437


TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 15, 16 Test; Prentice Hall: Transparency Resource Package: 15A-15E, 16G; Prentice Hall: Companion Web Site

Standard 8 - Trade

Students will understand why individuals, businesses and governments trade goods and services and how trade affects the economies of the world.

E.8.1 Explain the benefits of trade among individuals, regions and countries. (Geography; Individuals, Society and Culture)

SE/TE: 441-447, 468, 469


TECH: : Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 17 Test; Prentice Hall: Transparency Resource Package: 17A-17C; Prentice Hall: Companion Web Site

E.8.2 Define and distinguish between absolute and comparative advantage.

SE/TE: 443-445, 447, 466, 467









E.8.3 Define trade barriers, such as quotas and tariffs. (Government)

SE/TE: 449-456, 457, 465, 466, 467, 468-469, 498, 499



E.8.4 Explain why countries erect barriers to trade. (Government)

SE/TE: 449-456, 457, 466, 467, 468-469



E.8.5 Explain the difference between balance of trade and balance of payments.

SE/TE: 462-464, 466, 467

TR: Prentice Hall: Learning Style Lesson Plan Folder: 40; Prentice Hall: Lesson Plans Folder: 63; Prentice Hall: Unit 7 Folder: 6, 7, 9, 10, 12

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 17 Test; Prentice Hall: Transparency Resource Package: 17G; Prentice Hall: Companion Web Site

E.8.6 Compare and contrast labor productivity trends in the United States and other developed countries.

SE/TE: 320

The foundation of this standard can be found on:

SE/TE: 471-476








TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 18 Test; Prentice Hall: Transparency Resource Package: 18A, 18B, 18C; Prentice Hall: Companion Web Site

E.8.7 Explain how most trade occurs because of a comparative advantage in the production of a particular good or service.

SE/TE: 441-447, 468, 469


TECH: : Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 17 Test; Prentice Hall: Transparency Resource Package: 17A-17C; Prentice Hall: Companion Web Site

E.8.8 Explain how changes in exchange rates impact the purchasing power of people in the United States and other countries. (Individuals, Society and Culture)

SE/TE: 458-464, 466, 467

TR: Prentice Hall: Learning Style Lesson Plan Folder: 40; Prentice Hall: Lesson Plans Folder: 63; Prentice Hall: Unit 6 Folder: 6, 7, 9, 10, 12

TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 17 Test; Prentice Hall: Transparency Resource Package: 17G; Prentice Hall: Companion Web Site

E.8.9 Evaluate the arguments for and against free trade.

SE/TE: 449, 450-452, 453-456, 465, 466, 467, 468-469

TR: Prentice Hall: Learning Style Lesson Plan Folder: 39, Prentice Hall: Lesson Plans Folder: 62, Prentice Hall: Unit 7 Folder: 4, 5, 11


E.8.10 Identify skills that individuals need to be successful in the global economy.

SE/TE: 208, 209, 213-215, 217, 220-222, 226, 237








TECH: Presentation Pro CD-ROM; Test Bank CD-ROM: Chapter 9 Test; Prentice Hall: Transparency Resource Package: 9B, 9C; Prentice Hall: Companion Web Site

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