Florida SS.7.E.2.5

Social Studies7th GradeUnderstand the fundamental concepts relevant to the institutions, structure, and functions of a national economy.

The Standard

Explain how economic institutions impact the national economy.

Florida Next Generation Sunshine State Standards for Social Studies

Teacher's field guide

What Students Need to Do: Students identify the roles of banks, businesses, labor unions, and government agencies in the economy. They explain how decisions by these groups affect jobs, wages, spending, production, prices, and economic growth.
What Mastery Looks Like: Given a change, such as a bank lowering loan rates, students can trace at least two likely effects on households and businesses. They can support each effect with a clear cause-and-effect link.
Common Misconceptions: Students may think an economic institution is only a building or government office. They may assume one institution controls the whole economy or that every decision affects all people in the same way.
How to Assess It: Exit ticket: A bank lowers its loan rates. Explain two possible effects on jobs, spending, production, or prices.

Lesson moves

Use role cards and tokens to model money moving among households, businesses, banks, labor unions, and government after a new factory loan.
Write: Which has the strongest effect on employment, a bank, a corporation, or government? Support your choice with two cause-and-effect links.
Match institution cards with decision cards and impact cards, then explain each completed chain to a partner.
Annotate a short news article about interest rates, wages, taxes, or a major employer, marking effects on households and businesses.

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