Area of Learning: SOCIAL STUDIES Economic Theory Grade 12 — BIG IDEAS Contemporary economic Observing, interpreting, and The implementation of Economic systems theory, practice, and judging past economic conditions economic theories has have underlying and terminology are from different perspectives and profound effects on social often opposing ethical grounded in centuries of worldviews gave rise to competing and political decision making standards and economic theory. theoretical approaches. and movements. implications. Learning Standards Curricular Competencies Content Students are expected to be able to do the following: Students are expected to know the following: Use Social Studies inquiry processes and skills to ask questions; gather, economic practice from money interpret, and analyze ideas; and communicate findings and decisions to mercantilism Assess the significance of theoretical developments at particular times and places classical theories of value, growth, (significance) and distribution Assess the justification for competing economic theories after investigating the classical theories of money, banking, adequacy of facts, interpretation, and evidence (evidence) and government economic policy Compare and contrast continuities and changes within and between economic theories Marxist economics (continuity and change) neoclassical economics and theories Assess how historical conditions influenced the development of economic theories of markets (cause and consequence) Keynesian theory of money, investment, Assess how economic theories affected social and political change (cause and and cycles consequence) contemporary economic thought Explain different perspectives on past and present economic theories by considering contemporary economics and First Peoples prevailing norms, values, worldviews, and beliefs (perspective) Make reasoned ethical judgments about the past and present application of economic theories in economic, social, and political policy and decision making (ethical judgment)
Area of Learning: SOCIAL STUDIES — Economic Theory Grade 12 BIG IDEAS Contemporary economic theory, practice, and terminology are grounded in centuries of economic theory. Observing, interpreting, and judging past economic conditions from different perspectives and worldviews gave rise to competing theoretical approaches. The implementation of economic theories has profound effects on social and political decision making and movements. Economic systems have underlying and often opposing ethical standards and implications. Learning Standards Curricular Competencies Content Students are expected to be able to do the following: Use Social Studies inquiry processes and skills to ask questions; gather, interpret, and analyze ideas; and communicate findings and decisions Assess the significance of theoretical developments at particular times and places (significance) Assess the justification for competing economic theories after investigating the adequacy of facts, interpretation, and evidence (evidence) Compare and contrast continuities and changes within and between economic theories (continuity and change) Assess how historical conditions influenced the development of economic theories (cause and consequence) Assess how economic theories affected social and political change (cause and consequence) Explain different perspectives on past and present economic theories by considering prevailing norms, values, worldviews, and beliefs (perspective) Make reasoned ethical judgments about the past and present application of economic theories in economic, social, and political policy and decision making (ethical judgment) Students are expected to know the following: economic practice from money to mercantilism classical theories of value, growth, and distribution classical theories of money, banking, and government economic policy Marxist economics neoclassical economics and theories of markets Keynesian theory of money, investment, and cycles contemporary economic thought contemporary economics and First Peoples
en_social-studies_12_economic-theory_elab.docx