Oklahoma Social Studies E.C.8.1
The Standard
- E.C.8
- Examine the impact of the global economy on domestic conditions within the United States of America’s economy.
Describe how current economic conditions can be affected by many factors (e.g., unemployment, Consumer Price Index (CPI), individual savings and debt, government debt, government-enforced price ceilings, labor supply, and inflation).
Oklahoma Academic Standards for Social Studies (2026) · E.C.8
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students use unemployment and Consumer Price Index (CPI) figures to describe jobs and prices. They explain how savings, debt, government borrowing, price caps, and the number of available workers can affect spending, hiring, and what people can buy.
What Mastery Looks Like
- Given a short economic report, students tell which figures measure conditions and which choices or policies may change them. They can trace a likely effect, such as a rent cap below the going rate leading to fewer available apartments.
Common Misconceptions
- Students may treat CPI as a cause of inflation rather than a measure of price changes. They may count retired people as unemployed or assume a price cap makes goods available to everyone.
How to Assess It
- Exit ticket: CPI rises from 100 to 106, unemployment rises from 4% to 6%, and a city caps rent below the going rate. Describe the changes in jobs and prices, then name one possible effect of the rent cap.
Lesson moves
Ways to Teach It
Give groups grocery price tags from two years; have them total the same basket for each year and calculate the percent increase.
Ask students to write: A city caps rent below the going rate as more workers arrive. What might happen to available apartments?
Give pairs cards showing high credit card debt, fewer job openings, and more available workers; have them match each to a possible effect.
Have students check the latest BLS CPI and unemployment reports, then write what each measures and one claim neither figure proves.
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Related Standards
- E.C.8
Examine the impact of the global economy on domestic conditions within the United States of America’s economy.
- E.C.8.2
Explain how economic conditions, including supply and demand, have an impact on consumers, producers, and government policymakers.
- E.C.9.3
Evaluate the impact of self-interest, competition, collusion, technological advancement, standard of living, the business cycle, and fluctuation on the GDP.
- E.C.3.2
Explain what causes shortages and surpluses (e.g., government-imposed price floors, price ceilings, and other government regulations) and describe their impact ...
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