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Standards for Balance of Payments (BOP)

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National Standards in Economics

Name: Economic Fluctuations

Standard: 18

  • Students will understand that: Fluctuations in a nation's overall levels of income, employment, and prices are determined by the interaction of spending and production decisions made by all households, firms, government agencies, and others in the economy. Recessions occur when overall levels of income and employment decline.
  • Students will be able to use this knowledge to: Interpret media reports about current economic conditions and explain how these conditions can influence decisions made by consumers, producers, and government policy makers.

Name: Specialization

Standard: 6

  • Students will understand that: When individuals, regions, and nations specialize in what they can produce at the lowest cost and then trade with others, both production and consumption increase.
  • Students will be able to use this knowledge to: Explain how they can benefit themselves and others by developing special skills and strengths.

Name: Trade

Standard: 5

  • Students will understand that: Voluntary exchange occurs only when all participating parties expect to gain. This is true for trade among individuals or organizations within a nation, and among individuals or organizations in different nations.
  • Students will be able to use this knowledge to: Negotiate exchanges and identify the gains to themselves and others. Compare the benefits and costs of policies that alter trade barriers between nations, such as tariffs and quotas.

State Standards

Common Core State Standards

Name: RH.11-12.1

Standard: History/Social Studies -- Grade 11-12

Area: History/Social Studies -- Grade 11-12

  • Cite specific textual evidence to support analysis of primary and secondary sources, connecting insights gained from specific details to an understanding of the text as a whole.

Name: RH.11-12.2

Standard: History/Social Studies -- Grade 11-12

Area: History/Social Studies -- Grade 11-12

  • Determine the central ideas or information of a primary or secondary source; provide an accurate summary that makes clear the relationships among the key details and ideas.

Name: RH.11-12.7

Standard: History/Social Studies -- Grade 11-12

Area: History/Social Studies -- Grade 11-12

  • Integrate and evaluate multiple sources of information presented in diverse formats and media (e.g., visually, quantitatively, as well as in words) in order to address a question or solve a problem.

Name: RH.11-12.9

Standard: History/Social Studies -- Grade 11-12

Area: History/Social Studies -- Grade 11-12

  • Integrate information from diverse sources, both primary and secondary, into a coherent understanding of an idea or event, noting discrepancies among sources.

Name: RH.9-10.1

Standard: History/Social Studies -- Grade 9-10

Area: History/Social Studies -- Grade 9-10

  • Cite specific textual evidence to support analysis of primary and secondary sources, attending to such features as the date and origin of the information.

Name: RH.9-10.2

Standard: History/Social Studies -- Grade 9-10

Area: History/Social Studies -- Grade 9-10

  • Determine the central ideas or information of a primary or secondary source; provide an accurate summary of how key events or ideas develop over the course of the text.

Name: RH.9-10.9

Standard: History/Social Studies -- Grade 9-10

Area: History/Social Studies -- Grade 9-10

  • Compare and contrast treatments of the same topic in several primary and secondary sources.

Name: WHST.11-12.6

Standard: Writing Grade 11-12

Area: Writing Grade 11-12

  • Use technology, including the Internet, to produce, publish, and update individual or shared writing products in response to ongoing feedback, including new arguments or information.

Name: WHST.11-12.8

Standard: Writing Grade 11-12

Area: Writing Grade 11-12

  • Gather relevant information from multiple authoritative print and digital sources, using advanced searches effectively; assess the strengths and limitations of each source in terms of the specific task, purpose, and audience; integrate information into the text selectively to maintain the flow of ideas, avoiding plagiarism and over reliance on any one source and following a standard format for citation.

Name: WHST.11-12.9

Standard: Writing Grade 11-12

Area: Writing Grade 11-12

  • Draw evidence from informational texts to support analysis, reflection, and research.

Name: WHST.9-10.6

Standard: Writing Grade 9-10

Area: Writing Grade 9-10

  • Use technology, including the Internet, to produce, publish, and update individual or shared writing products, taking advantage of technology’s capacity to link to other information and to display information flexibly and dynamically.

Name: WHST.9-10.8

Standard: Writing Grade 9-10

Area: Writing Grade 9-10

  • Gather relevant information from multiple authoritative print and digital sources, using advanced searches effectively; assess the usefulness of each source in answering the research question; integrate information into the text selectively to maintain the flow of ideas, avoiding plagiarism and following a standard format for citation.

Name: WHST.9-10.9

Standard: Writing Grade 9-10

Area: Writing Grade 9-10

  • Draw evidence from informational texts to support analysis, reflection, and research.