Economics 8 th Grade Spencer Williams

Teacher: Spencer Williams Office Hour: By appointment

Standards From the Arizona Department of Education website ( Strand 5: Economics Concept 1: Foundations of Economics PO 2. Analyze how scarcity, opportunity costs, and trade off influence decision making. PO 5. Describe the impacts of distribution and availability of natural resources on an economy. Concept 2: Micro Economics PO 2. Explain the impacts on governmental investment in human capital

Context Context - Students have a basic understanding of the relationship between economics and an individual or organization. Students are able to provide examples of how the economy can affect the decision making of an individual or organization. Students are able to define and provide examples of investments in human capital within our own economy.

Economics and Human Capital In this class students will demonstrate their understanding of basic economic concepts including: resource distribution, resource cost, scarcity, and opportunity costs. Students will then provide an example of how investments in human capital can improve or damage the condition of an individual or organization.

Grading for class Resource Distribution Clear understanding of concept as well as it's relation to story actor Unclear or muddy relation of concept to story actor. Incorrect understanding or application of concept No mention of concept Resource Cost Clear understanding of concept as well as it's relation to story actor Unclear or muddy relation of concept to story actor. Incorrect understanding or application of concept No mention of concept Scarcity Clear understanding of concept as well as it's relation to story actor Unclear or muddy relation of concept to story actor. Incorrect understanding or application of concept No mention of concept Opportunity Cost Clear understanding of concept as well as it's relation to story actor Unclear or muddy relation of concept to story actor. Incorrect understanding or application of concept No mention of concept Human Capital Clear understanding of concept as well as it's relation to story actor Unclear or muddy relation of concept to story actor. Incorrect understanding or application of concept No mention of concept Concept __/15

Grading for Class (cont) StoryStory covers all of class concepts and relates them to example actor with clear understanding of relationships and concept influence over actor Story covers most of class concepts with a fair understanding of relationships and concept influence. Story covers a few class concepts with a poor demonstration of concept understanding and relation to story actor Students neglects to mention 3 or more class concepts and/or neglects to explain their relationship to story actor. PresentationPresentation and visual aid both demonstrate a clear understanding of both class concepts as well as their relationship to the example story actor. Presentation and visual aid demonstrate understanding of concepts, but their relationship to the example story actor is poorly represented. Presentation lacks understanding or mentioning of concepts. Visual aid does not accurately represent concept of Human capital Presentation lacks visual aid and does not demonstrate understanding of class concepts __/10