A Correlation of Prentice Hall Economics Alaska State Content Standards for
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A Correlation of, INTRODUCTION This document demonstrates how 2013 meets the Alaska State Content Standards for Government and Citizenship. Correlation page references are to the Student and Teacher s Editions. explores Essential Questions to help students of all abilities achieve fundamental understanding of core economic principles. Key concepts based on the twenty content standards of the National Council of Economic Education (NCEE) are developed throughout the program. Through an engaging narrative, interactive graphics, animations, videos, and the Personal Finance Handbook, students will apply their new knowledge to the real world and build lifelong skills. In partnership with The Wall Street Journal, this classroom edition fosters economic literacy with enriching and authoritative content that focuses on today s high school students. Connect: Each unit and chapter introduces students to the Essential Questions of Economics, which guides them through an exploration across topics connecting them to the content. Experience: Students experience economics hands-on with Economics on the Go audio and video resources, interactive assessment, and much more online! Understand: Make economics relevant with the Personal Finance Handbook, supported by full lesson plans, worksheets, tests, WebQuests, and engaging illustrations. 3
A Correlation of, Table of Contents A.... 5 B.... 6 C.... 8 D.... 9 E... 10 F... 12 G.... 14 4
A Correlation of, Government and Citizenship A. A student should know and understand how societies define authority, rights, and responsibilities through a governmental process. A student who meets the content standard should: 1. understand the necessity and purpose of government; SE/TE: Students explore the relationship of government and the economy in the following material: Understanding Fiscal Policy, 391 398; Fiscal Policy Options, 399-407; Budget Deficits 408-417; The Federal Reserve System, 418 424; Federal Reserve Functions, 425-428; Monetary Policy Tools, 429-434; Monetary Policy, 435-443 2. understand the meaning of fundamental ideas, including equality, authority, power, freedom, justice, privacy, property, responsibility, and sovereignty; 3. understand how nations organize their governments; and 4. compare and contrast how different societies have governed themselves over time and in different places. SE/TE: Students explore the relationship of government and the economy in the following material: Benefits of Free Enterprise, 48 55; Promoting Growth 56-61; Providing Public Goods, 62-67; Providing a Safety Net, 68-75; Unemployment, 334 341; Inflation 342-348; Poverty, 349-359 SE/TE: For related material see: Absolute and Comparative Advantage, 446 454; Trade Barriers and Agreements, 455-462; Measuring Trade, 463-473; Levels of Development, 480 486; Issues in Development, 487-494; Economies in Transition, 495-500; Challenges of Globalization 501-511 SE/TE: For related material see: Answering the Three Economic Questions, 22 28; The Free Market, 29-34; Centrally Planned Economies 35-38; Mixed Economies 39-47; Levels of Development, 480 486; Issues in Development, 487-494; Economies in Transition, 495-500; Challenges of Globalization 501-511 5
A Correlation of, B. A student should understand the constitutional foundations of the American political system and the democratic ideals of this nation. A student who meets the content standard should: 1. understand the ideals of this nation as expressed in the Declaration of Independence, the United States Constitution, and the Bill of Rights; SE/TE: For related material see: Analyze Primary and Secondary Sources, S-10; Benefits of Free Enterprise, 48 55; Promoting Growth 56-61; Providing Public Goods, 62-67; Providing a Safety Net, 68-75; Innovators, 15, 30, 53, 95, 114, 146, 167, 211, 237, 260, 298, 328, 340, 376, 406, 436, 452, 499 2. recognize American heritage and culture, including the republican form of government, capitalism, free enterprise system, patriotism, strong family units, and freedom of religion; 3. understand the United States Constitution, including separation of powers, the executive, legislative, and judicial branches of government, majority rule, and minority rights; 4. know how power is shared in the United States constitutional government at the federal, state, and local levels; SE/TE: American Free Enterprise, 48; Benefits of Free Enterprise, 49 55; Promoting Growth and Stability, 56 61; Providing Public Goods, 62 67; Providing a Safety Net, 68 73; Chapter Assessment, 74 SE/TE: Students explore the relationship of government and the economy in the following material: Benefits of Free Enterprise, 48 55; Promoting Growth 56-61; Providing Public Goods, 62-67; Providing a Safety Net, 68-75; Unemployment, 334 341; Inflation 342-348; Poverty, 349-359; Understanding Fiscal Policy, 391 398; Fiscal Policy Options, 399-407; Budget Deficits 408-417; The Federal Reserve System, 418 424; Federal Reserve Functions, 425-428; Monetary Policy Tools, 429-434; Monetary Policy, 435-443 SE/TE: For related material see: Taxes and Government Spending, 362; What Are Taxes, 363 368; Federal Taxes, 369 374; Federal Spending, 375 380; State and Local Taxes and Spending, 381 388; Chapter Assessment, 388 6
A Correlation of, 5. understand the importance of individuals, public opinion, media, political parties, associations, and groups in forming and carrying out public policy; 6. recognize the significance of diversity in the American political system; 7. distinguish between constitution-based ideals and the reality of American political and social life; 8. understand the place of law in the American political system; and 9. recognize the role of dissent in the American political system. SE/TE: Innovators, 15, 30, 53, 95, 114, 146, 167, 211, 237, 260, 298, 328, 340, 376, 406, 436, 452, 499; Understanding Fiscal Policy, 391 398; Fiscal Policy Options, 399-407; Budget Deficits 408-417; The Federal Reserve System, 418 424; Federal Reserve Functions, 425-428; Monetary Policy Tools, 429-434; Monetary Policy, 435-443 SE/TE: Students can explore the diversity of American culture with the following: Benefits of Free Enterprise, 48 55; Promoting Growth 56-61; Providing Public Goods, 62-67; Providing a Safety Net, 68-75; Unemployment, 334 341; Inflation 342-348; Poverty, 349-359; Understanding Fiscal Policy, 391 398; Fiscal Policy Options, 399-407; Budget Deficits 408-417; The Federal Reserve System, 418 424; Federal Reserve Functions, 425-428; Monetary Policy Tools, 429-434; Monetary Policy, 435-443 SE/TE: For related material see Benefits of Free Enterprise, 48 55; Promoting Growth 56-61; Providing Public Goods, 62-67; Providing a Safety Net, 68-75; Unemployment, 335 341; Poverty, 349 357; Challenges of Globalization, 501 509 SE/TE: Regulation and Deregulation, 180 184; Regulation, 53 55, 159 SE/TE: Students can explore the diversity of American culture with the following: Benefits of Free Enterprise, 48 55; Promoting Growth 56-61; Providing Public Goods, 62-67; Providing a Safety Net, 68-75; Unemployment, 334 341; Inflation 342-348; Poverty, 349-359; Fiscal Policy, 390 417; The Federal Reserve System, 418 424; Federal Reserve Functions, 425-428; Monetary Policy Tools, 429-434; Monetary Policy, 435-443 7
A Correlation of, C. A student should understand the character of government of the state. A student who meets the content standard should: 1. understand the various forms of the SE/TE: For related material see: State and state s local governments and the agencies Local Taxes and Spending, 381 388 and commissions that influence students lives and property; 2. accept responsibility for protecting and enhancing the quality of life in the state through the political and governmental processes; 3. understand the Constitution of Alaska and sec. 4 of the Alaska Statehood Act, which is known as the Statehood Compact; 4. understand the importance of the historical and current roles of Alaska Native communities; 5. understand the Alaska Native Claims Settlement Act and its impact on the state; 6. understand the importance of the multicultural nature of the state; 7. understand the obligations that land and resource ownership place on the residents and government of the state; and SE/TE: For related material see: State and Local Taxes and Spending, 381 388 SE/TE: For related material see: State and Local Taxes and Spending, 381 388 SE/TE: For related material see Unemployment, 334 341; Inflation 342-348; Poverty, 349-359; Property Taxes, 363, 364, 365, 367, 370, 372, 383, 384 SE/TE: For related material see: Unemployment, 334 341; Inflation 342-348; Poverty, 349-359; State and Local Taxes and Spending, 381 388; SE/TE: For related material see: Innovators, 15, 30, 53, 95, 114, 146, 167, 211, 237, 260, 298, 328, 340, 376, 406, 436, 452, 499 SE/TE: For related material see: What Are Taxes, 362 368; Federal Taxes, 369-374; Federal Spending, 375-380; State and Local Taxes, 381-388; Taxes and Income, PF44 PF47 8
A Correlation of, 8. identify the roles of and relationships among the federal, tribal, and state governments and understand the responsibilities and limits of the roles and relationships. SE/TE: Students can explore different levels of government with the following material: Taxes and Government Spending, 362; What Are Taxes, 363 368; Federal Taxes, 369 374; Federal Spending, 375 380; State and Local Taxes and Spending, 381 387; Chapter Assessment, 388 D. A student should understand the role of the United States in international affairs. A student who meets the content standard should: 1. analyze how domestic politics, the SE/TE: International Trade, 446; Absolute principles of the United States Constitution, and Comparative Advantage, 447 454; foreign policy, and economics affect Trade Barriers and Agreements, 455 462; relations with other countries; Measuring Trade, 463 471; Chapter Assessment, 472; Document-Based Assessment, 473; Trade Between the States, 181; Trade Associations, 212; Free Trade, 44; Development and Globalization, 480; Levels of Development, 481 486; Issues in Development, 487 494; Economies in Transition, 495 500; Challenges of Globalization, 501 509; Chapter Assessment, 510 2. evaluate circumstances in which the United States has politically influenced other nations and how other nations have influenced the politics and society of the United States; SE/TE: International Trade, 446; Absolute and Comparative Advantage, 447 454; Trade Barriers and Agreements, 455 462; Measuring Trade, 463 471; Chapter Assessment, 472; Document-Based Assessment, 473; Trade Between the States, 181; Trade Associations, 212; Free Trade, 44; Development and Globalization, 480; Levels of Development, 481 486; Issues in Development, 487 494; Economies in Transition, 495 500; Challenges of Globalization, 501 509; Chapter Assessment, 510 9
A Correlation of, 3. understand how national politics and international affairs are interrelated with the politics and interests of the state; 4. understand the purpose and function of international government and nongovernmental organizations in the world today; and SE/TE: Students explore this objective with the following material: International Trade, 446; Absolute and Comparative Advantage, 447 454; Trade Barriers and Agreements, 455 462; Measuring Trade, 463 471; Chapter Assessment, 472 SE/TE: Absolute and Comparative Advantage, 446 454; Trade Barriers and Agreements, 455-462; Measuring Trade, 463-473; World Bank, 482, 493, 497; World Trade Organization, 458, 461, 462, 506; United Nations Development Program, 493 5. analyze the causes, consequences, and possible solutions to current international issues. SE/TE: International Trade, 446; Absolute and Comparative Advantage, 447 454; Trade Barriers and Agreements, 455 462; Measuring Trade, 463 471; Chapter Assessment, 472; Document-Based Assessment, 473; Trade Between the States, 181; Trade Associations, 212; Free Trade, 44; Development and Globalization, 480; Levels of Development, 481 486; Issues in Development, 487 494; Economies in Transition, 495 500; Challenges of Globalization, 501 509; Chapter Assessment, 510 E. A student should have the knowledge and skills necessary to participate effectively as an informed and responsible citizen. A student who meets the content standard should: 1. know the important characteristics of citizenship; SE/TE: For related material see: Taxes and Government Spending, 362; What Are Taxes, 363 368; Federal Taxes, 369 374; Federal Spending, 375 380; State and Local Taxes and Spending, 381 387; Chapter Assessment, 388; Taxes and Income, PF44 PF47 10
A Correlation of, 2. recognize that it is important for citizens to fulfill their public responsibilities; 3. exercise political participation by discussing public issues, building consensus, becoming involved in political parties and political campaigns, and voting; 4. establish, explain, and apply criteria useful in evaluating rules and laws; SE/TE: Taxes and Government Spending, 362 363; What Are Taxes, 363 368; Federal Taxes, 369 374; Federal Spending, 375 380; State and Local Taxes and Spending, 381 388; Chapter Assessment, 388 SE/TE: Paying your Taxes, PF46 PF47; Compare Viewpoints, S-11; Analyze Political Cartoons, S-13; Problem Solving, S-15; Decision Making, S-16; Note Taking and Active Listening, S-17; Think Creatively and Innovate, S-18 SE/TE: For related material see: Taxes and Government Spending, 362; What Are Taxes, 363 368; Federal Taxes, 369 374; Federal Spending, 375 380; State and Local Taxes and Spending, 381 387; Chapter Assessment, 388 Taxes and Income, PF44 PF47 5. establish, explain, and apply criteria useful in selecting political leaders; 6. recognize the value of community service; and SE/TE: For related material see: Understanding Fiscal Policy, 391 398; Fiscal Policy Options, 399-407; Budget Deficits 408-417; The Federal Reserve System, 418 424; Federal Reserve Functions, 425-428; Monetary Policy Tools, 429-434; Monetary Policy, 435-443 SE/TE: For related material see: Nonprofit Organizations, 209 212, 383; Nongovernmental Organizations, 494 11
A Correlation of, 7. implement ways of solving problems and resolving conflict. SE/TE: Compare Viewpoints, S-11; Analyze Political Cartoons, S-13; Problem Solving, S-15; Decision Making, S-16; Note Taking and Active Listening, S-17; Think Creatively and Innovate, S-18; also see: Economics & You, 9, 43, 69, 88, 124, 153, 176, 194, 233, 261, 295, 326, 347, 384, 405, 427, 465, 498; Case Study, 16, 42, 60, 93, 127, 150, 169, 210, 223, 262, 281, 329, 352, 371, 402, 432, 466, 490; Economic Simulations, 17, 38, 53, 95, 120, 142, 181, 192, 240, 251, 294, 317, 345, 382, 396, 430, 464, 491 F. A student should understand the economies of the United States and the state and their relationships to the global economy. A student who meets the content standard should: 1. understand how the government and the economy interrelate through regulations, incentives, and taxation; SE/TE: Understanding Fiscal Policy, 391 398; Fiscal Policy Options, 399 407; Budget Deficits and the National Debt, 408 415; Monetary Policy Tools, 429 434; Monetary Policy and Macroeconomic Stabilization, 435 441; The Federal Reserve and Monetary Policy, 418; The Federal Reserve System, 419 424; Federal Reserve Functions, 425 428; Monetary Policy Tools, 429 434; Monetary Policy and Macroeconomic Stabilization, 435 441; Chapter Assessment, 442; Regulation and Deregulation, 53 55, 159, 182 183; Competition and Regulation, 183 184; Taxes and Government Spending, 362 363; What Are Taxes, 363 368; Federal Taxes, 369 374; Federal Spending, 375 380; State and Local Taxes and Spending, 381 388; Chapter Assessment, 388 2. be aware that economic systems determine how resources are used to produce and distribute goods and services; SE/TE: Scarcity and the Factors of Production, 3 7; Opportunity Cost, 8 12; Production Possibilities Curve, 13 19; Chapter Assessment, 20; Economic Systems, 22; Answering the Three Economic Questions, 23 28; The Free Market, 29 34; Centrally Planned Economies, 35 38; Mixed Economies, 39 45; Chapter Assessment, 46; also see: Benefits of Free Enterprise, 48 55 12
A Correlation of, 3. compare alternative economic systems; SE/TE: Economic Systems, 22; Answering the Three Economic Questions, 23 28; The Free Market, 29 34; Centrally Planned Economies, 35 38; Mixed Economies, 39 45; Chapter Assessment, 46; also see: Benefits of Free Enterprise, 48 55 4. understand the role of price in resource allocation; SE/TE: Prices, 132; Combining Supply and Demand, 133 140; Changes in Market Equilibrium, 141 147; The Role of Prices, 148 154; Market Structure, 158; Perfect Competition, 159 163; Monopoly, 164 173; Monopolistic Competition and Oligopoly, 174 179 5. understand the basic concepts of supply and demand, the market system, and profit; SE/TE: Understanding Demand, 85 90; Shifts in the Demand Curve, 91 96; Elasticity of Demand, 97 105; Chapter Assessment, 106; Understanding Supply, 109 115; Costs of Production, 116 122; Changes in Supply, 123 129; Chapter Assessment, 130; Combining Supply and Demand, 133 140; American Free Enterprise, 48; Benefits of Free Enterprise, 49 55; Promoting Growth and Stability, 56 61; Providing Public Goods, 62 67; Providing a Safety Net, 68 73; Chapter Assessment, 74 6. understand the role of economic institutions in the United States, including the Federal Reserve Board, trade unions, banks, investors, and the stock market; SE/TE: Labor, 216; Labor Market Trends, 217 225; Labor and Wages, 226 234; Organized Labor, 235 243; Money and Banking, 248; Money, 249 255; Banking Today, 264 273; Financial Markets, 276; Saving and Investing, 277 283; Bonds and Other Financial Assets, 284 289; The Stock Market, 290 301; The Federal Reserve and Monetary Policy, 418; The Federal Reserve System, 419 424; Federal Reserve Functions, 425 428 13
A Correlation of, 7. understand the role of self-interest, incentives, property rights, competition, and corporate responsibility in the market economy; 8. understand the indicators of an economy s performance, including gross domestic product, inflation, and the unemployment rate; 9. understand those features of the economy of the state that make it unique, including the importance of natural resources, government ownership and management of resources, Alaska Native regional corporations, the Alaska Permanent Fund Corporation, the Alaska Housing Finance Corporation, and the Alaska Industrial Development and Export Authority; and SE/TE: Changes in Market Equilibrium, 141 147; The Role of Prices, 148 154; Market Structure, 158; Perfect Competition, 159 163; Monopoly, 164 173; Monopolistic Competition and Oligopoly, 174 179; also see: Enterprise, 49 55; Promoting Growth and Stability, 56 61; Providing Public Goods, 62 67; Providing a Safety Net, 68 73; Chapter Assessment, 74 SE/TE: Gross Domestic Product and Growth, 306; Gross Domestic Product, 307 314; Consumer Price Index, 343, 345, 357; Inflation, 322 326; Deflation, 348; Interest Rates, 268 269, 317, 347 348; Interest Rates and Personal Finance, PF10 PF11, PF16 PF17, PF18 PF19; Unemployment Rate, 339 340, 341, 357 SE/TE: For related material see: Scarcity and the Factors of Production, 3 7; Enterprise, 49 55; Promoting Growth and Stability, 56 61; Providing Public Goods, 62 67; Providing a Safety Net, 68 73; Chapter Assessment, 74; Natural Resources, 5, 77, 330, 447, 448, 489; Taxes and Government Spending, 362 389 10. understand how international trade works. SE/TE: Absolute and Comparative Advantage, 447 454; Trade Barriers and Agreements, 455 462; Measuring Trade, 463 471; Chapter Assessment, 472; Document-Based Assessment, 473; Trade Between the States, 181; Trade Associations, 212; Free Trade, 44 G. A student should understand the impact of economic choices and participate effectively in the local, state, national, and global economies. A student who meets the content standard should: 14
A Correlation of, 1. apply economic principles to actual world situations; 2. understand that choices are made because resources are scarce; 3. identify and compare the costs and benefits when making choices; SE/TE: Global Impact, 6, 52, 178, 200, 222, 271, 321, 367, 457, 505; Economics & You, 9, 43, 69, 88, 124, 153, 176, 194, 233, 261, 295, 326, 347, 384, 405, 427, 465, 498; Case Study, 16, 42, 60, 93, 127, 150, 169, 210, 223, 262, 281, 329, 352, 371, 402, 432, 466, 490; Economic Simulations, 17, 38, 53, 95, 120, 142, 181, 192, 240, 251, 294, 317, 345, 382, 396, 430, 464, 491; Your Fiscal Fitness: An Introduction, PF2 PF3; Budgeting, PF4 PF5; Checking, PF6 PF9; Investments, PF10 PF15; Savings and Retirement, PF16 PF21; Credit and Debt, PF22 PF27; Consumer Smarts, PF32 PF39; After High School, PF40 PF43; Taxes and Income, PF44 PF47; Personal Finance Glossary, PF48 SE/TE: Scarcity and the Factors of Production, 3 7; Opportunity Cost, 8 12; Production Possibilities Curve, 13 19; Chapter Assessment, 20; Costs of Production, 116 122; Marginal Costs, 119, 120 121, 123, 171 SE/TE: Opportunity Cost, 8 12; Chapter Assessment, 20; Marginal Costs, 119, 120 121, 123, 171; also see: Budgeting, PF4 PF5; Checking, PF6 PF9; Investments, PF10 PF15; Savings and Retirement, PF16 PF21; Credit and Debt, PF22 PF27; Consumer Smarts, PF32 PF39; also see: Case Study, 16, 42, 60, 93, 127, 150, 169, 210, 223, 262, 281, 329, 352, 371, 402, 432, 466, 490; Economic Simulations, 17, 38, 53, 95, 120, 142, 181, 192, 240, 251, 294, 317, 345, 382, 396, 430, 464, 491 15
A Correlation of, 4. make informed choices on economic issues; 5. understand how jobs are created and their role in the economy; 6. understand that wages and productivity depend on investment in physical and human capital; and 7. understand that economic choices influence public and private institutional decisions. SE/TE: Economics and You, 9, 43, 69, 88, 124, 153, 176, 194, 233, 261, 295, 326, 347, 384, 405, 427, 465, 498; Career Center, 25, 59, 102, 149, 193, 224, 268, 278, 327, 355, 377, 394, 468, 506; Case Study, 16, 42, 60, 93, 127, 150, 169, 210, 223, 262, 281, 329, 352, 371, 402, 432, 466, 490; Economic Simulations, 17, 38, 53, 95, 120, 142, 181, 192, 240, 251, 294, 317, 345, 382, 396, 430, 464, 491; Your Fiscal Fitness: An Introduction, PF2 PF3; Budgeting, PF4 PF5; Checking, PF6 PF9; Investments, PF10 PF15; Savings and Retirement, PF16 PF21; Credit and Debt, PF22 PF27; Consumer Smarts, PF32 PF39; After High School, PF40 PF43; Taxes and Income, PF44 PF47; Personal Finance Glossary, PF48 SE/TE: Labor, 216 217; Labor Market Trends, 217 225; Labor and Wages, 226 234; Unemployment, 335 341 SE/TE: Labor Market Trends, 217 225; Labor and Wages, 226 234 SE/TE: Unemployment, 334 341; Inflation 342-348; Poverty, 349-359; Understanding Fiscal Policy, 391 398; Fiscal Policy Options, 399-407; Budget Deficits 408-417; The Federal Reserve System, 418 424; Federal Reserve Functions, 425-428; Monetary Policy Tools, 429-434; Monetary Policy, 435-443; also see: Case Study, 16, 42, 60, 93, 127, 150, 169, 210, 223, 262, 281, 329, 352, 371, 402, 432, 466, 490; Economic Simulations, 17, 38, 53, 95, 120, 142, 181, 192, 240, 251, 294, 317, 345, 382, 396, 430, 464, 491 16