• Strand The National Economy of the United States of America 
    Standard 2.2 The National Economy of the United States of America Grade Level HS  
         
     
     
     
     
     
    2.2.1
     
     
    2.2.2
     
     
     
    2.2.3
     
     
    2.2.4
     
     
     
    2.2.5
     
     
     
     
     
     
     
     
     
    GLCE/HSC
    Federal Government and Macroeconomic Goals Identify the three macroeconomic goals of an economic system (stable prices, low unemployment, and economic growth).
     
    Macroeconomic Policy Alternatives Compare and contrast differing policy recommendations for the role of the Federal government in achieving the macroeconomic goals of stable prices, low unemployment, and economic growth.
     
    Fiscal Policy and its Consequences Analyze the consequences intended and unintended of using various tax and spending policies to achieve macroeconomic goals of stable prices, low unemployment, and economic growth.
     
    Federal Reserve and Monetary Policy Explain the roles and responsibilities of the Federal Reserve System and compare and contrast the consequences intended and unintended of different monetary policy actions of the Federal Reserve Board as a means to achieve macroeconomic goals of stable prices, low unemployment, and economic growth.
     
    Government Revenue and Services Analyze the ways in which governments generate revenue on consumption, income and wealth and use that revenue for public services (e.g., parks and highways) and social welfare (e.g., social security, Medicaid, Medicare).
     
     
     
     
    Key concepts
    Essential understandings
    (Procedural or Conceptual)
    Vocabulary-
    macroeconomics goals, federal government, stable prices, unemployment, economic growth, tax policies, spending policies, Federal Reserve System, monetary policy, government generated revenue, consumptions, income, wealth, public service, social welfare
    Aligned Assessments
     Students will know
     
    1. The three macroeconomic goals of the economic system
    2. The role of the federal government in achieving macroeconomic goals
    3. The consequences of policies to achieve macroeconomic goals
    4. The roles and consequences the federal reserve plays in achieving macroeconomic goals
    5. How the federal government generates and uses revenue
     
     Students will be able to
    1. Identify the three macroeconomic goals of an economic system (stable prices, low unemployment, and
        economic growth
    2. Compare and contrast the policies the federal government uses to achieve macroeconomic goals
    3. Evaluate the consequences of various policies used to achieve macroeconomic goals of the federal
        government
    4. Define the roles and responsibilities of the Federal Reserve, and compare and contrast the consequences
        of policy actions to achieve macroeconomic goals
    5. Identify the means in which the Federal Government generates revenue, and ways revenue is used for
        public welfare and social welfare
     
    Student-friendly Language Target Assesment
    1. I can identify the three macroeconomic golas of an economic system (stable prices, low unemployment,
         and economic growth) (Knowledge: Multiple Choice)
        *The three macroeconomic goals of an economic system are:
               a. Low prices, low unemployment, economic growth
               b. Stable prices, no unemployment, economic stability
               c. Low prices, no unemployment, economic growth
               d. Stable prices, low unemployment, economic growth
     
    2. I can compare and contrast the policies the federal government uses to achieve macroeconomic goals (Short answer/esssay)
         *Compare and contrast how the government tried to achieve macroeconomic goals in the laissez faire era of the 1920s and the New Deal (Keynesian) approach of the 1930s and the after effects of these policies.
     
    3. I can evaluate the consequences of various policies used to achieve macroeconomic goals of the federal government(see assessment for 2.2.2)

    4. I can define the roles and responsibilities of the Federal Reserve and compare and contrast the consequences of policy actions to achieve macroeconomic goals (Short answer/essay)
       * All economic indicators show that the economy is growing at a very fast rate.  Name two different ways the Federal Reserve can slow down economic growth to managable levels.  What would be the effect of each of these measures on the economic goals of the government?
       * All economic indicators show that the economy is growing at a very slow rate.  Name two different ways the Federal Reserve can speed up economic growth.  What would be the effect of each of these measures on the economic goals of the government?
     
    5.  I can identify the means in which the Federal Government generates revenue and ways revenue is used for public welfare and social welfare (multiple choice)
       * Which is not a way that the Federal Government raises revenue?
               a. Income Tax
               b. Tariffs
               c. Sales Tax
               d. Excise Tax
     
       * Which is not a way that the Federal Government uses its revenue to support public welfare and social welfare?
               a. Homeland Security
               b. Building Highways
               c. Social Security
               d. Financing Public School
Last Modified on February 14, 2018