Oklahoma Social Studies E.C.8

E.C.8 is a cluster heading. These are the individual standards under it.

• E.C.8.1

  Describe how current economic conditions can be affected by many factors (e.g., unemployment, Consumer Price Index (CPI), individual savings and debt, governmen...

• E.C.8.2

  Explain how economic conditions, including supply and demand, have an impact on consumers, producers, and government policymakers.

• E.C.8.3

  Explain that prices in a market economy act as signals of relative scarcity and help coordinate decisions of producers and consumers, and analyze how attempts t...

• E.C.8.4

  Describe the causes and different types of unemployment, how unemployment is measured, and the impact of unemployment on different sectors of the United States ...

01

What Students Need to Do

Students use CPI, job and labor-supply data, savings, and household and government debt to describe U.S. conditions shaped by global trade. They use supply and demand to explain prices, price caps, and choices by buyers, businesses, and policymakers. They classify unemployment and calculate its rate.

02

What Mastery Looks Like

Given a drop in imports, a student predicts how prices, buying, production, and hiring might change. They explain why a price ceiling can cause shortages even when the posted price is lower. They calculate unemployment from labor-force data and use CPI to track changes in consumer prices.

03

Common Misconceptions

Students may think a slower inflation rate means prices are falling. They may count people who are not seeking work as unemployed. They may assume a price ceiling makes more goods available at the lower price.

04

How to Assess It

Exit ticket: Imported coffee becomes scarce. Predict the price change, one effect on a U.S. café, and what a price ceiling might do. Then calculate unemployment if 8 of 200 people in the labor force are jobless and actively seeking work.

1. 01

   Give pairs egg buyer cards marked $3 and seller cards marked $2; remove two seller cards, cap prices at $2, and tally unfilled orders.

2. 02

   Ask students to write three links from a tariff on imported steel to a U.S. car maker's costs, prices, and hiring.

3. 03

   Hand out six job-search cards; students sort frictional, structural, and cyclical cases, then calculate unemployment from a 20-person labor-force list.

4. 04

   Open the latest BLS CPI release; students copy the 12-month change and explain one household budget choice it could affect.

• E.C.11

  Analyze how international trade affects the economies of nations.

• USH.C.4.2.B

  Examine the various factors contributing to and exacerbating the global depression, including German reparations, Allied war debts, United States of America loa...

• 4.C.4

  Examine the United States of America’s economic system and its economic activities which support human development.

• 4.C.4.2

  Describe how economic activities impact the nation’s economy.