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Oroville Union High School District
History-Social Science Curriculum
History-Social Science - Honors Principles of Economics

Economic Terms and Reasoning
Terms: Terms/Concepts/Reasoning
The learner will be able to understand common economic terms, concepts, and economic reasoning.
Strand Scope Source
Terms Master CA: Content Standards, 12.1 *GSE Test Content*
  
Terms: Scarcity/Need for Choices
The learner will be able to examine causal relationship between scarcity and the need for choices.
Strand Scope Source
Terms Master CA: Content Standards, 12.1.1
  
Terms: Opportunity Cost/Benefit/Cost
The learner will be able to explain opportunity cost, marginal benefit, and marginal cost.
Strand Scope Source
Terms Master CA: Content Standards, 12.1.2
  
Reasoning:Monetary/Nonmonetary Incentive
The learner will be able to identify the difference between monetary and nonmonetary incentives and how changes in incentives cause changes in behavior.
Strand Scope Source
Reasoning Master CA: Content Standards, 12.1.3
  
Reasoning: Private Property/Role
The learner will be able to evaluate the role of private property as an incentive in conserving and improving scarce resources, including renewable and nonrenewable natural resources.
Strand Scope Source
Reasoning Master CA: Content Standards, 12.1.4
  
Reasoning: Market Economy/Role
The learner will be able to analyze the role of a market economy in establishing and preserving political and personal liberty (e.g., through the works of Adam Smith).
Strand Scope Source
Reasoning Master CA: Content Standards, 12.1.5
  
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Market, Economy and Global Competition
Competition: Market Economy/Elements
The learner will be able to analyze the elements of America's market economy in a global setting.
Strand Scope Source
Competition Master CA: Content Standards, 12.2 *GSE Test Content*
  
Competition: Incentives/Relationship
The learner will be able to understand the relationship of the concept of incentives to the law of supply, and the relationship of the concept of incentives, and substitutes to the law of demand.
Strand Scope Source
Competition Master CA: Content Standards, 12.2.1
  
Competition: Supply/Demand/Changes
The learner will be able to discuss the effects of changes in supply and/or demand on the relative scarcity, price, and quantity of particular products.
Strand Scope Source
Competition Master CA: Content Standards, 12.2.2
  
Competition: Property Rights/Competition
The learner will be able to explain the roles of property rights, competition, and profit in a market economy.
Strand Scope Source
Competition Master CA: Content Standards, 12.2.3
  
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Supply/Demand/Pricing
Supply: Relative Scarcity/Goods/Services
The learner will be able to explain how prices reflect the relative scarcity of goods and services and perform the allocative function in a market economy.
Strand Scope Source
Supply Master CA: Content Standards, 12.2.4
  
Pricing: Competition/Process
The learner will be able to understand the process by which competition among buyers and sellers determines a market price.
Strand Scope Source
Pricing Master CA: Content Standards, 12.2.5
  
Pricing: Price Controls/Effects
The learner will be able to describe the effect of price controls on buyers and sellers.
Strand Scope Source
Pricing Master CA: Content Standards, 12.2.6
  
Demand: Competition/Analyze
The learner will be able to analyze how domestic and international competition in a market economy affects goods and services produced and the quality, quantity, and price of those products.
Strand Scope Source
Demand Master CA: Content Standards, 12.2.7
  
Pricing: Role of Profit/Explain
The learner will be able to explain the role of profit as the incentive to entrepreneurs in a market economy.
Strand Scope Source
Pricing Master CA: Content Standards, 12.2.8
  
Pricing: Financial Markets/Functions
The learner will be able to describe the functions of the financial markets.
Strand Scope Source
Pricing Master CA: Content Standards, 12.2.9
  
Supply: Economic Principles/Discuss
The learner will be able to discuss the economic principles that guide the location of agricultural production and industry and the spatial distribution of transportation and retail facilities.
Strand Scope Source
Supply Master CA: Content Standards, 12.2.10
  
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Government/Economic Policy
Policy: Federal Government/Influence
The learner will be able to analyze the influence of the federal government on the American economy.
Strand Scope Source
Policy Master CA: Content Standards, 12.3 *GSE Test Content*
  
Policy: Market Economy/Understand
The learner will be able to understand how the role of government in a market economy often includes providing for national defense, addressing environmental concerns, defining and enforcing property rights, attempting to make markets more competitive, and protecting consumers' rights.
Strand Scope Source
Policy Master CA: Content Standards, 12.3.1
  
Policy: Costs of Government Actions
The learner will be able to identify the factors that may cause the costs of government actions to outweigh the benefits.
Strand Scope Source
Policy Master CA: Content Standards, 12.3.2
  
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Money and Banking
Banking: Government Fiscal Policies/Aims
The learner will be able to describe the aims of government fiscal policies (taxation, borrowing, spending) and their influence on production, employment, and price levels.
Strand Scope Source
Banking Master CA: Content Standards, 12.3.3
  
Money: Monetary Policy/Aims/Tools
The learner will be able to understand the aims and tools of monetary policy and their influence on economic activity (e.g., the Federal Reserve).
Strand Scope Source
Money Master CA: Content Standards, 12.3.4
  
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Income,Employment, and Labor
Labor: U.S. Labor Market/Elements
The learner will be able to analyze the elements of the United States' labor market in a global setting.
Strand Scope Source
Labor Master CA: Content Standards, 12.4 *GSE Test Content*
  
Labor: Operations/Labor Market
The learner will be able to understand the operations of the labor market, including the circumstances surrounding the establishment of principal American labor unions, procedures that unions use to gain benefits for their members, the effects of unionization, the minimum wage, and unemployment insurance.
Strand Scope Source
Labor Master CA: Content Standards, 12.4.1
  
Employment: Current Economy/Labor Market
The learner will be able to describe the current economy and labor market, including the types of goods and services produced, the types of skills workers need, the effects of rapid technological change, and the impact of international competition.
Strand Scope Source
Employment Master CA: Content Standards, 12.4.2
  
Income: Wage Differences/Discuss
The learner will be able to discuss wage differences among jobs and professions, using the laws of demand and supply and the concept of productivity.
Strand Scope Source
Income Master CA: Content Standards, 12.4.3
  
Labor: International Mobility/Capital
The learner will be able to explain the effects of international mobility of capital and labor on the United States' economy.
Strand Scope Source
Labor Master CA: Content Standards, 12.4.4
  
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Economic Statistics
Statistics: Aggregate Economic Behavior
The learner will be able to analyze the aggregate economic behavior of the United States' economy.
Strand Scope Source
Statistics Master CA: Content Standards, 12.5 *GSE Test Content*
  
Statistics: Nominal and Real Data
The learner will be able to distinguish between nominal and real data.
Strand Scope Source
Statistics Master CA: Content Standards, 12.5.1
  
Statistics: Unemployment Rate/New Jobs
The learner will be able to define, calculate, and explain the significance of an unemployment rate, the number of new jobs created monthly, an inflation or deflation rate, and a rate of economic growth.
Strand Scope Source
Statistics Master CA: Content Standards, 12.5.2
  
Statistics: Interest Rates/Distinguish
The learner will be able to distinguish between short term and long term interest rates and explain their relative significance.
Strand Scope Source
Statistics Master CA: Content Standards, 12.5.3
  
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International Trade
Trade: International Trade/analysis
The learner will be able to analyze issues of international trade and explain how the United States' economy affects, and is affected by, economic forces beyond the United States' borders.
Strand Scope Source
Trade Master CA: Content Standards, 12.6 *GSE Test Content*
  
Trade: Consumption/Production Efficiency
The learner will be able to identify the gains in consumption and production efficiency from trade, with emphasis on the main products and changing geographic patterns of twentieth-century trade among countries in the Western Hemisphere.
Strand Scope Source
Trade Master CA: Content Standards, 12.6.1
  
Trade: Restrictions/Effects/Compare
The learner will be able to compare the reasons for and the effects of trade restrictions during the Great Depression compared with present day arguments among labor, business, and political leaders over the effects of free trade on the economic and social interests of various groups of Americans.
Strand Scope Source
Trade Master CA: Content Standards, 12.6.2
  
Trade: International Political Borders
The learner will be able to understand the changing role of international political borders and territorial sovereignty in a global economy.
Strand Scope Source
Trade Master CA: Content Standards, 12.6.3
  
Trade: Foreign Exchange/Explain
The learner will be able to explain foreign exchange, the manner in which exchange rates are determined, and the effects of the dollar's gaining (or losing) value relative to other currencies.
Strand Scope Source
Trade Master CA: Content Standards, 12.6.4
  
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