Oklahoma Social Studies USH.C.9.1.D
The Standard
- USH.C.9
- Analyze contemporary turning points of 21st century American society.
- USH.C.9.1
- Assess the significant events of the George W. Bush administration.
Identify the roots of the Great Recession, beginning with the housing bubble’s burst, the global financial crisis, and aggressive responses by the Federal Reserve.
Oklahoma Academic Standards for Social Studies (2026) · USH.C.9.1
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students trace how falling home prices led to mortgage defaults and losses for banks in the United States and abroad. They explain why the Federal Reserve cut interest rates and provided emergency support after the crisis spread.
What Mastery Looks Like
- A student can connect risky mortgages, mortgage-backed securities, and bank losses in a clear cause-and-effect chain. They can name Federal Reserve actions and explain that those actions were responses to the crisis, not causes of it.
Common Misconceptions
- Students may think falling home prices alone caused every homeowner to default. They may also mistake Federal Reserve emergency lending for a cause of the crash, or assume only U.S. banks held mortgage-backed securities.
How to Assess It
- On an exit ticket, ask: How could a U.S. mortgage default hurt a bank overseas, and what did the Federal Reserve do as the crisis spread?
Lesson moves
Ways to Teach It
Give groups cards for falling home prices, missed payments, mortgage bond losses, and frozen bank lending; have them arrange and explain the chain.
Ask: Why could falling U.S. home prices hurt banks overseas? Students write two sentences using mortgage-backed securities.
Have pairs sort event cards into bubble, crash, and response, then defend where Fed rate cuts and emergency loans belong.
Use a $250,000 loan and a $200,000 foreclosure sale; students calculate the $50,000 shortfall and connect it to bank losses.
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