Unit Curriculum Document

Economics

Unit Number and Title:
Unit 3 – (Market Structures) / Time Frame:
2 Weeks (taught in second grading cycle)
Curriculum
Concepts:
· Business Organizations
· Market Structures
· Competition
Enduring Understandings (Big Ideas):
· Entrepreneurs choose the form of business organization most likely to bring the greatest profit at the lowest risk
· Competition is a catalyst for change / Essential Questions:
· Why do some businesses (and their products) succeed and others fail?
· What is the impact of competition on markets?
The student will know:
· Types of market structures
· Role of government in Free Enterprise
· Types of business organizations
· Private Property Rights / The student will be able to:
· Describe and give examples of pure competition, monopolistic competition, oligopoly, and monopoly
· Identify ordinances and regulations that apply to the establishment and operation of various types of businesses (FTC, Robinson-Patman Act, Sherman Anti-Trust Act, Clayton Anti-Trust Act)
· Judge the role of government regulation in the economy
· Explain the characteristics of sole proprietorships, partnerships, and corporations
· Analyze the advantages and disadvantages of sole proprietorships, partnerships, and corporations including responsibilities
· Explain how corporations raise money through stocks and bonds
· Analyze costs and benefits of purchase, use, and disposal of personal and business property
· Identify and evaluate examples of restrictions that government places on the use of business and individual property
Student Understanding (student friendly TEKS)
· Standards reworded so that students have an understanding of the expectations for this unit. An excellent content objective to post for students to see.
TEKS- Student Expectations and Knowledge and Skills Statement
(7) Economics. The student understands the right to own, use, and dispose of private property. The student is expected to:
(A) analyze the costs and benefits of the purchase, use, or disposal of personal and business property; and
(B) identify and evaluate examples of restrictions that the government places on the use of business and individual property.
(9)Economics. The student understands types of market structures. The student is expected to:
(A)describe characteristics and give examples of pure competition, monopolistic competition, oligopoly, and monopoly; and
(B)identify and evaluate ordinances and regulations that apply to the establishment and operation of various types of businesses.
(14)Economics. The student understands the role that the government plays in the U.S. free enterprise system. The student is expected to:
(B)describe the role of government in the U.S. free enterprise system and the changes in that role over time; and
(C)evaluate government rules and regulations in the U.S. free enterprise system.
(16)Personal financial literacy. The student understands types of business ownership. The student is expected to:
(A)explain the characteristics of sole proprietorships, partnerships, and corporations;
(B)analyze the advantages and disadvantages of sole proprietorships, partnerships, and corporations;
(C)analyze the economic rights and responsibilities of businesses, including those involved in starting a small business; and
(D)explain how corporations raise money through stocks and bonds.
(22)Social studies skills. The student applies critical-thinking skills to organize and use information acquired from a variety of valid sources, including electronic technology. The student is expected to:
(A)analyze economic information by sequencing, categorizing, identifying cause-and-effect relationships, comparing, contrasting, finding the main idea, summarizing, making generalizations and predictions, and drawing inferences and conclusions;
(24)Social studies skills. The student uses problem-solving and decision-making skills, working independently and with others, in a variety of settings. The student is expected to:
(A)use a problem-solving process to identify a problem, gather information, list and consider options, consider advantages and disadvantages, choose and implement a solution, and evaluate the effectiveness of the solution;
Targeted College Readiness Standards:
· I.C.1
· III.A.3
· IV.D.2
· V.A.2
Targeted ELPs:
· 1E,F
· 2F
· 3E,J
· 4B, F,K
· 5B
Academic Vocabulary:
· Competition
· Corporation
· Profit Motive
· Sole Proprietorship / Language of Instruction:
· Market Structure
· Oligopoly
· Monopoly
· Product Differentiation
· Non-Price Competition
· Perfect Competition
· Monopolistic Competition
· Stocks
· Bonds
· Partnership
Instruction
Instructional Resources:
Technology:
· Suggested ways to incorporate technology and/or websites into the unit / Career Connections/Real Life Application:
· Suggested ways to make content relevant
Exemplar Lessons: / Research Based Instructional Strategies:
Assessment
Student self-assessment & reflection: / Acceptable evidence or artifacts:

Unit 3: Market Structures 2013-14 Page 1 of 4