Standard 2: Understand the fundamental concepts relevant to the institutions, structure, and functions of a national economy.

General Information
Number: SS.912.E.2
Title: Understand the fundamental concepts relevant to the institutions, structure, and functions of a national economy.
Type: Standard
Subject: Social Studies
Grade: 912
Strand: Economics

Related Benchmarks

This cluster includes the following benchmarks.

Related Access Points

This cluster includes the following access points.

Access Points

Identify broad economic goals.
Identify a public policy issue that affects the student’s community and potential consequences, such as rezoning for housing and businesses or building new roads.
Identify contributions of entrepreneurs, inventors, and other key individuals from various gender, social, and ethnic backgrounds in the development of the United States.
Identify examples of government wage and price controls, such as minimum wage and rent control.
Identify how capital investments may impact economic growth.
Identify the benefits of natural monopolies and reasons for the government to regulate monopolies.
Identify a common impact of inflation on society.
Identify different types of taxes.
Recognize the relationship between federal government spending and taxation on the economy.
Identify a function of the Federal Reserve System.
Describe economic impacts of negative and positive side effects on the environment.
Identify the flow of money in a local economy, and how it affects the individual, household, businesses, banks, government, and international trade.

Related Resources

Vetted resources educators can use to teach the concepts and skills in this topic.

Lesson Plans

Budgets in the Government and at Home:

In this lesson, students will identify how income and changes in spending and taxes affect budgets and spending in the government and in individual households and identify and describe the enumerated powers delegates to Congress to create a federal budget. Students will also identify an amendment related to the federal budget and create a personal one-year budget plan for a specific career path.


Type: Lesson Plan

Franklin Roosevelt Fireside Chat - Banking Crisis :

In this lesson, students will become familiar with Franklin D. Roosevelt and his use of the radio to calm and reassure citizens during the Great Depression. Students will focus on the first chat addressing the banking crisis. 

Type: Lesson Plan

Design an After School Program:

Students will work in small groups and utilize prior research to design and present their proposal for an after school program to benefit their community in a cost-efficient way.  The entire class will vote on whether or not they would approve each proposal.

Type: Lesson Plan

Comparing Forms of Government:

In this lesson, students will review different forms of government and engage in a discussion and reflection of the advantages offered by the United States' constitutional republic. A slideshow, graphic organizer, pretest, and class activity allow students to apply their knowledge.  


Type: Lesson Plan

Poverty in America:

Using NY Times articles and interactive features, students learn about the historical basis for the "War on Poverty", modern vs. historical factors that determine poverty, and compare approaches for combating poverty. Students will practice noting bias when examining sources to draw their own conclusions.

Type: Lesson Plan

Student Resources

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Parent Resources

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