Nebraska

Students will utilize economic reasoning skills to make informed judgments and become effective participants in the economy at the local, state, national and international levels.

• Markets

  • SS 5.2.1 Students will analyze various markets where buyers and sellers exchange goods or services.

    • SS 5.2.1.a Describe how competition among sellers results in lower costs and prices, higher product quality, and better customer service

      • What is economics? (5-N.1)
      • Understand overall supply and demand (5-P.2)
      • Identify shortage and surplus (5-P.4)

  • SS 5.2.2 Students will make observations about how human capital can be improved by education, training, and standard of living.

    • SS 5.2.2.a Give examples of how additional education/training improves productivity and increases standard of living (e.g., apprentice, journeyman, master electrician)

• Institutions

  • SS 5.2.3 Students will summarize characteristics of economic institutions in the United States.

    • SS 5.2.3.a Identify the functions and characteristics of money (e.g., store value, medium of exchange, unit of accounting)

    • SS 5.2.3.b Identify the importance of financial institutions to households and businesses (e.g., loans to agriculture, business, and individuals in order to provide capital)

      • Banks (5-O.1)

    • SS 5.2.3.c Identify rules and laws that protect and support consumers (e.g., private property, contracts, agreements, and product safety)

• Financial Literacy

  • SS 5.2.6 Students will summarize characteristics of financial institutions.

    • SS 5.2.6.a Explain/explore how various financial services are provided by local financial institutions

      • Banks (5-O.1)

• Government

  • SS 5.2.10 Students will understand what goods and services the national government provides.

    • SS 5.2.10.a Identify goods and services funded through federal taxes (e.g., armed forces, courts, parks)

• Globalization

  • SS 5.2.12 Students will explain how specialization, division of labor, and technology increases productivity and interdependence.

    • SS 5.2.12.a Investigate Early United States specialization and trade (e.g., fur, tobacco, cotton, lumber)

      • New England colonies: economy and conflict (5-F.5)
      • Middle colonies: economy and society (5-F.7)
      • Southern colonies: economy and slavery (5-F.9)

    • SS 5.2.12.b Investigate and report on entrepreneurs and inventors