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Prentice Hall Economics: Principles in Action © 2007
correlated to
New York State Learning Standards for Social Studies, Economics Standards
(Commencement Level)
NEW YORK LEARNING STANDARDS FOR PAGE(S) WHERE TAUGHT
SOCIAL STUDIES (If submission is not a text, cite
appropriate resource(s))
New York State Learning Standards for Social Studies (Revised Edition, June 1996)
Standard 4—Economics
Commencement
Students will use a variety of intellectual skills to demonstrate their understanding of how
the United States and other societies develop economic systems and associated institutions
to allocate scarce resources, how major decision-making units function in the U.S. and other
national economies, and how an economy solves the scarcity problem through market and
nonmarket mechanisms.
1. The study of economics requires an understanding of major economic concepts and
systems, the principles of economic decision making, and the interdependence of economies
and economic systems throughout the world.
Students:
analyze the effectiveness of varying ways SE/TE: 3-4, 6, 20, 21, 23-25, 556
societies, nations, and regions of the world
attempt to satisfy their basic needs and
wants by utilizing scarce resources
TE: 14, 478, 479
define and apply basic economic concepts SE/TE: 3-4, 6, 8, 13-18, 20, 21, 23-27, 28-
such as scarcity, supply/demand, opportunity 33, 34-39, 40-44, 46-49, 57, 58, 79-83, 98,
costs, production, resources, money and 99, 101-106, 122, 123, 127, 128, 139-144,
banking, economic growth, markets, costs, 151-154, 156-164, 166-171, 173-176, 178-
competition, and world economic systems 179, 218, 243-248, 250-256, 258-267, 300-
308, 310-316, 312-314, 318-324, 326, 327,
331-336, 338-342, 351, 352, 353, 404, 431,
471, 472, 478, 479, 489-491, 493, 534, 538,
540, 554, 556
understand the nature of scarcity and how SE/TE: 3-4, 6, 8, 13-18, 20, 21, 23-27
nations of the world make choices which
involve economic and social costs and
benefits
describe the ideals, principles, structure, SE/TE: 43, 44, 51-55, 57-60, 62-66, 67-73,
practices, accomplishments, and problems 255, 291, 314, 315, 334, 343, 351, 395-396,
related to the United States economic 400, 401, 402, 435
system
compare and contrast the United States SE/TE: 23-27, 28-32, 34-39, 40-44, 46, 47
economic system with other national
economic systems, focusing on the three
fundamental economic questions
1
SE = Student Edition - TE = Teacher Edition - TR = Teaching Resources - TECH = Technology
Prentice Hall Economics: Principles in Action © 2007
correlated to
New York State Learning Standards for Social Studies, Economics Standards
(Commencement Level)
NEW YORK LEARNING STANDARDS FOR PAGE(S) WHERE TAUGHT
SOCIAL STUDIES (If submission is not a text, cite
appropriate resource(s))
explain how economic decision making has SE/TE: 52, 53, 199, 200, 441-447, 468, 469
become global as a result of an
interdependent world economy
understand the roles in the economic SE/TE: 31, 37, 42, 43, 53, 54, 87, 108-114,
system of consumers, producers, workers, 271, 275, 303, 320, 321, 540, 541
investors, and voters.
This is evident, for example, when students:
▲ through the use of market SE/TE: 19, 39, 48, 49, 71, 97, 121, 145,
148, 149, 177, 205, 208, 209, 235, 265, 293,
case studies of the U.S.
economy and the economies of 296, 297, 325, 328, 329, 351, 381, 384, 385,
other countries, investigate how 409, 435, 465, 468, 495
values and incentives influence
people’s choices, how the
economic system affects
people’s incentives, how people
gain from voluntary trade, and
how people’s choices influence
the value of a good or service
▲ examine current and historical SE/TE: 532-541, 542-544
economic data (e.g., workforce composition The foundation of this standard can be found
and participation, natural resource deposits, on:
industrial base, financial institutions, state’s SE/TE: 12, 61, 84, 107, 194, 218, 337, 394
gross domestic product) to create an
economic profile of the New York State and
United States economies; investigate the role
of government (state and national) with
particular attention to services provided that
foster economic activity and regulations
designed to protect the environment
▲ complete a case study of a The foundation of this standard can be found
nation or society, focusing on on:
the fundamental economic SE/TE: 23-27
questions: What goods and
services are produced and in
what quantities? How are these
goods and services produced?
For whom are these goods and
services produced?
2
SE = Student Edition - TE = Teacher Edition - TR = Teaching Resources - TECH = Technology
Prentice Hall Economics: Principles in Action © 2007
correlated to
New York State Learning Standards for Social Studies, Economics Standards
(Commencement Level)
NEW YORK LEARNING STANDARDS FOR PAGE(S) WHERE TAUGHT
SOCIAL STUDIES (If submission is not a text, cite
appropriate resource(s))
▲ investigate one or more SE/TE: 51-55, 57-60, 62-66, 67-75, 117-
current economic issues in the 119, 128-131, 159-160, 172-176, 180, 181,
United States, including their 216, 217, 224, 238, 239, 316, 318-324, 326,
historical antecedents; issues 327, 331-336, 338-343, 345-350, 352-355,
may include, but are not limited 371-374, 392, 393, 395-401, 403-408, 410-
to: impact of fiscal policy, the 413, 415-418, 420-423, 425-429, 430-434,
role of Federal Reserve and 436, 437, 498, 499
monetary policy, corporate
downsizing and unemployment,
economic growth and the
information age, welfare policy,
health care policy, the national
debt, defense spending, foreign
aid, affirmative action; consider
policy positions, and the
possible conflicting goals of
government, such as full
employment, price stability,
economic justice, economic
freedom, and economic security
▲ recognize why SE/TE: 441-447, 458-464, 466, 467
international trade takes place
(because of comparative
advantage) and the role of
exchange rates in fostering or
inhibiting trade; become familiar
with the basics of the balance of
payments and international
capital flows; investigate the
importance of New York City as
a primary world financial center
and how the City’s financial role
is enhanced by technology
▲ graph textbook or teacher- SE/TE: 82, 83, 86-88, 90-94, 96, 98, 99,
developed data to display 104, 105, 106, 116-120, 122, 123, 126-131,
supply/demand schedules. 133-137, 146, 147
Interpret graphs identifying
prices and situations that would
cause the demand and supply
schedules to change
3
SE = Student Edition - TE = Teacher Edition - TR = Teaching Resources - TECH = Technology
Prentice Hall Economics: Principles in Action © 2007
correlated to
New York State Learning Standards for Social Studies, Economics Standards
(Commencement Level)
NEW YORK LEARNING STANDARDS FOR PAGE(S) WHERE TAUGHT
SOCIAL STUDIES (If submission is not a text, cite
appropriate resource(s))
▲ describe a list of economic SE/TE: 10, 11, 21
decisions students will make
during the coming year,
explaining how the concept of
scarcity is involved in each
decision. For each decision,
discuss a possible opportunity
cost involved. Research
newspapers, periodicals, and
computer databases to compile
a list of local, State, or federal
government economic decisions
explaining how the concept of
scarcity affected each decision
TE: 8, 9
▲ interpret and analyze the graphic The foundation of this standard can be found
information included in the annual Economic on:
Report of the President, describing federal SE/TE: 27, 371, 374, 376, 379, 380, 382,
and state expenditures 383, 394, 411, 543
▲ analyze how traditional, command, SE/TE: 36, 37, 70, 107, 117
market, and mixed economies would address The foundation of this standard can be found
the following issues: health care for on:
individuals with special needs (i.e., elderly, SE/TE: 26-27, 28-33, 34, 35, 38, 39, 40-44,
people with disabilities), price supports for 46, 47, 48, 49, 139-144, 489-491, 493
farmers, aid to education, and environmental
controls of industries
▲ examine the nature and SE/TE: 243-248, 250-256, 258-264, 265-
functions of money in an 267, 415-418, 420-423, 425-429, 430-434,
economy; understand the basics 436, 437
of banking, including the role of
the Federal Reserve Bank
system; investigate how forms
of money and the nature of
credit have changed over time;
recognize how technology
increases the flow of financial
information and increases the
speed of financial transactions
4
SE = Student Edition - TE = Teacher Edition - TR = Teaching Resources - TECH = Technology
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