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DECUSHISTORY

DECCIVICS

 

Unit IX – The United States Economy

      EOC PREP

Competency Goal 9: The learner will analyze factors influencing the United States economy.

Generalizations

• Globalization can impact a nation’s economy through various factors which may result in cultural, political, and social change.
• Political action may impact a nation’s economy and result in changing government regulations.
• Advances in technology and the rise of global trade may impact a nation’s economy.

Objectives

9.01 Identify phases of the business cycle and the economic indicators used to measure economic activities and trends.

Essential Questions

• How are economic indicators used to measure trends in the economy?
• Which aspects of the business cycle are prime for investment and which ones signal a slow down?
• How do producers and consumers impact the rise and fall of the business cycle?

Macro Concepts

Patterns
Phases

Micro Concepts

Business Cycle
Economic Cycle
Economic Indicators

Factual Content

(Business/Economic
Cycle)
Peak
Contraction
Trough Expansion
(Economic Indicators)
Recession
Depression
Gross Domestic
Product (GDP)
Per Capita GDP
Standard of living
Consumer Price Index
(CPI)
National Debt

9.02 Describe the impact of government regulation on specific economic activities.

Essential Questions

• How is the conflict between private interests and government regulation resolved?
• What measures are in place to ensure fair labor practices in the US economy?
• What impact does government regulation have on production and consumption in the United States?

Macro Concepts

Reform
Power
Influence

Micro Concepts

Government
Regulation
Political Action

Factual Content

(Government Regulation)
Work place safety
Consumer protection
Environmental
protection
Labor disputes
Affirmative Action
Deregulation

9.03 Explain the impact of the movement of human and capital resources on the United States economy.

Essential Questions

• Why do population shifts have a significant impact on the economy both in terms of resources and labor?
• How has the United States been affected by the shift from a focus on manufacturing to service?
• What effects do current immigration trends have on local economies?

Macro Concepts

Change
Movement

Micro Concepts

Migration
Resources
Service Society

Factual Content

Migration)
Population shifts
Immigration
Service industries
Silicon Valley
Sunbelt
Frostbelt or Rustbelt
states
(Resources)
Human
Capital
(Service Society)
Research Triangle Park

9.04 Assess how current events impact decisions made by consumers, producers, and government policy makers.

Essential Questions

• How do advances in technology influence the choices made by consumers and producers?
• To what extent has terrorist activity affected the national government’s economic decisions and impacted local economies?
• How has outsourcing affected manufacturing in North Carolina?

Macro Concepts

Interdependence
Power

Micro Concepts

Technological
Advances
Security
Downsizing

Factual Content

(Technological Advances)
Computers
Internet
(Security)
Operation Iraqi
Freedom
Homeland Security
Department
Patriot Act
(Downsizing)
Out-sourcing North Carolina’s Furniture and Textile Industries

9.05 Identify the major domestic problems of the nation under the Articles of Confederation and assess the extent to which they were resolved by the new Constitution.

Essential Questions

• How are the interests of free trade and protectionism resolved in the global economy?
• What impact do trade surpluses and deficits have on the national and the international economies?
• What effect do the limited labor and environmental regulations of foreign countries have on the economy of the United States?

Macro Concepts

Independence
Power

Micro Concepts

Global
Interdependence
Protectionism
Globalization

Factual Content

(Global interdependence)
Globalization
Foreign trade
Unfavorable Balance of
Trade
Favorable Balance of Trade
Multinational conglomerate
Comparative advantage
Exchange rate
Treaty
Child labor
Human rights
(Protectionism)
Protective tariffs
(Globalization)
International Economic
Organizations:
North American Free Trade Agreement (NAFTA)
World Trade Organization (WTO)
European Union (EU)

9.06 Investigate the ways that domestic and international economies are interdependent.

Essential Questions

• What impact do developing nations play in the global economy?
• What responsibility do developed nations have in assisting weaker nations to grow economically?
• How are international financial and economic organizations used to maintain stability in the global economy?

Macro Concepts

Interdependence

Micro Concepts

Globalization
Global Interdependence
International Trade

Factual Content

(Global Interdependence)
Free Trade
Developed countries
Developing countries
Foreign aid
United Nations
International Monetary Fund (IMF)
World Bank

9.07 Analyze the short- and long-term effects of fiscal and monetary policy on the United States economy.

Essential Questions

• How does the Federal Reserve use monetary policy to ensure balance and stability in the US economy?
• What role does government spending play in maintaining a stable and solid economy?
• How does the federal government accrue revenue and determine its distribution?

Macro Concepts

Power
Patterns

Micro Concepts

Fiscal Policy
Monetary Policy

Factual Content

(Fiscal Policy))
Government spending
Revenue
Taxation
Personal Income Tax
Excise tax
Regressive tax
Progressive tax
Proportional Tax
Sales Tax
(Monetary Policy)
Federal Reserve System (FED)
Loose (Easy) money policy
Tight money policy
Reserve requirement
Discount Rate
Interest rates
Open Market
Operations

9.08 Analyze the influence of environmental factors, economic conditions, and policy decisions on individual economic activities.

Essential Questions

• How should government balance the needs of industry with those of protecting the environment and natural resources? and what are the
consequences of favoring one over the other?
• How does local government make decisions about maintaining property and development, while balancing the effects on the economy?
• How does government regulation of the national economy impact local economies and the economic choices of individuals?

Macro Concepts

Influence
Conflict
Systems

Micro Concepts

Environmental protection
Economic Decisions
Government regulation

Factual Content

(Environmental
protection)
Radioactive waste
disposal
Clean Air and Water
Act
(Economic Decisions)
Scarcity
(Government regulation)
Depression
Inflation
Recession
Bear and bull markets
Zoning laws
Building codes
OPEC Oil Embargo
Cuban Economic
Embargo

Primary Sources:

Before 1400 * 1400-1500 * 1501-1600 * 1601-1650 *1651-1700 *1701-1725 *1726-1750 * 1751-1775 *1776-1800

Ben's Guide: Our Nation

Other Resources

Timeline

Revolutionary War Cycle

Supplemental Readings

International Economics
International trade