Wayne RESA

Wayne RESA – SS / Grade 10 / Social Studies / Economics / RESA, MAISA MC3 Units

Wayne RESA – SS / Grade 10 / Social Studies / Economics
Course Description:
Unit Abstract
Compelling Question
Supporting Questions
Content (Key Concepts)
Skills (Intellectual Processes)
Unit Assessment Tasks
Lesson Plan Sequence
XUnit 1: Fundamentals of Economics
(Week 1, 3 Weeks)

This introductory unit presents students with the fundamental economic problem of scarcity and builds a foundation for how people, businesses, and societies respond to scarcity. Using students’ prior knowledge and experiences with economics in earlier grades, students begin by exploring the economics as a social studies discipline. They review the difference between want and needs and apply practical examples to the concepts of scarcity, choice, and opportunity cost. Through case studies and scenarios, students apply cost/benefit analysis to identify the opportunity cost involved in making a decision and apply marginal analysis to personal decision making. In doing so, students consider how economic decisions are made “at the margins”. They then broaden their understanding of economic decision making to include ethical, social, and emotional factors that appropriately complicate the decision making process in certain circumstances.


Students are then introduced to the practice of using models (production possibilities frontier and circular flow) and simulations to explain economic phenomena. Through a simulation and interactive PowerPoint, students consider ways societies can increase productivity and efficiency. As a result, students explore how the production possibilities curve/frontier represents the amount of two different goods that can be obtained by shifting resources from the production of one good to the production of the other. Students also use the production possibilities frontier model to understand the role that new technology, more resources, or specialization and international trade can play in shifting economic growth beyond current levels of production. To explore a business perspective in the decision making process, students engage in another simulation in which they act as entrepreneurs. They consider the various factors of production in allocating resources to produce goods or services and evaluate and select a business structure for their proposed business. Through the simulation, students adjust factors of production and business structures based on the governmental regulations, marketability, and the needs and wants of the local community. Additionally, students examine how the households and businesses interact in the exchange of resources and goods and services in an economy using the circular flow model and a simulation. As part of this simulation, students also consider how entrepreneurs and government regulations can affect the circular flow.


The unit concludes with an investigation of the question: How do societies respond to scarcity? Students learn that an economic system is a set of institutional arrangements and mechanisms that coordinate how people, businesses, and governments respond to the fundamental economic problem of scarcity. After introducing students to some of the ways societies have addressed the fundamental economic problem of scarcity, they then engage in a simulation in which they experience three distinct economic systems -- command, mixed, and traditional. Students analyze their experiences through small and whole class discussion, and gain an appreciation of the mixed economic system in the United States, which seeks to combine the best attributes from several different systems.


How does scarcity impact the decisions individuals, organizations, and societies must make?

  1. How does scarcity impact the decisions individuals and groups make?
  2. How do resources travel through our economic system to address the problem of scarcity?
  3. How do individuals, businesses, and societies address the problem of scarcity while balancing economic social goals?

business structures

capital goods


circular flow model

consumer goods

economic social goals

economic systems



factors of production

marginal analysis

markets (resource market; market for goods and services)

needs vs. wants

opportunity cost

Production Possibilities Frontier/Curve


sunk costs

Cause and Effect

Compare and Contrast

Identifying Perspectives

Problem Solving


A set of 3x5 index cards, one per student


A variety of magazines from which students may cut out pictures and words (Option B)


Bead containers– a mixture of red, green, blue, and yellow beads. (Do not give the lids to the containers to the groups as they will be used later in the game.)


Computer with PowerPoint capability


Computer with PowerPoint capability and a LCD or display


4 Dixie Cups – at least 4 and these stay with the teacher


Markers or colored pencils for student drawings


Overhead projector/ LCD projector


5 Rulers


Scissors – enough for half of the class


Spool of string (If you can find two types of string: thin, spool of thread and a thicker, plastic string is preferable)


Student Notebook or Journal – “Decision Making Notebook”


Unlined drawing or construction paper


Student Resource

A Facebook Tale: Founder Unfriends Pals On Way Up. NPR.com. 17 July 2009. 6 October 2015 http://www.npr.org/templates/story/story.php?storyId=106742510.


Bill Gates Biography. Biography.com 6 October 2015 http://www.biography.com/people/bill-gates-9307520.


Boyle, Matthew. “It came from Los Angeles.” Pinkberry could be the next hot franchise. CNN.com. Fortune. 28 May 2007. 6 October 2015 http://money.cnn.com/magazines/fortune/fortune_archive/2007/05/28/100033688/index.htm.


Econ Ed – Opportunity Cost. Federal Reserve Bank of St. Louis. 6 October 2015 https://bts.stlouisfed.org/opportunity-cost/?p=yes.


“Factors of Production.” Economic Lowdown Podcast Series. Federal Reserve Bank of St. Louis. 6 October 2015 http://www.stlouisfed.org/education_resources/economic-lowdown-podcast-series/factors-of-production/.


Gustafson, Kathryn, Brian Pierce and Scott Warrow. PowerPoint (Lessons 1, 2, 4, 5, and 7, Unit 1). Teacher-made materials. Oakland Schools, 2014.


- - -. Supplemental Materials (Lessons 1-7, Unit 1). Teacher-made materials. Oakland Schools, 2014.


"I, Pencil: My Family Tree as told to Leonard E. Read." Library of Economics and Liberty. 1999. 6 October 2015 http://www.econlib.org/library/Essays/rdPncl1.html.


“I, Pencil: The Movie.” Competitive Enterprise Institute. 14 November 2012. 6 October 2015 http://www.youtube.com/watch?v=IYO3tOqDISE.


Logue, Andrew.Drake Relays inspired Nike founder Phil Knight.” USA Today.com . 12 April 2009. 6 October 2015 http://www.usatoday.com/sports/olympics/2009-04-12-phil-knight-drake-relays_N.htm.


Oprah Winfrey Biography. Biography.com 6 October 2015 http://www.biography.com/articles/Oprah-Winfrey-9534419?part=0. No access currently available. 14 July 2014.


Today’s Meet. 6 October 2015 http://todaysmeet.com.


“What is Fracking?” National Geographic. 6 October 2015 http://ngm.nationalgeographic.com/2013/03/bakken-shale-oil/fracking-animation-video.


Zoning in the United States. Wikipedia. 6 October 2015 http://en.wikipedia.org/wiki/Zoning_in_the_United_States.


Teacher Resource

“Colour, Symbol, Image Routine.” Visible Thinking. Harvard Project Zero. 6 October 2015 http://www.visiblethinkingpz.org/VisibleThinking_html_files/03_ThinkingRoutines/03d_UnderstandingRoutines/ColourSymbolImage/ColourSymbolImage_Routine.html.


“Increasing Opportunity Cost.” Scarcity, Possibilities, and Preferences and Opportunity Cost. Khan Academy. 6 October 2015 https://www.khanacademy.org/economics-finance-domain/microeconomics/choices-opp-cost-tutorial/production-possibilities/v/increasing-opportunity-cost.


“Matching Organs.” Transplant Living. Unos. 8 July 2014


“Opportunity Cost - The Economic Lowdown Podcast Series.” Federal Reserve Bank of St. Louis. 6 October 2015 http://www.stlouisfed.org/education_resources/economic-lowdown-podcast-series/opportunity-cost/.


Econlowdown. Federal Reserve Bank of St. Louis Online Learning Program. 6 October 2015 https://bts.stlouisfed.org/opportunity-cost/index.php?sid=318&p=1.


Federal Reserve Bank of St. Louis. Education Resources. 6 October 2015 http://www.stlouisfed.org/.


Junior Achievement Text and Study Guide. High School. 29 July 2010


Landsburg, Steven E. Fair Play: What Your Child Can Teach You About Economics, Values, and the Meaning of Life by Steven E. Landsburg. New York: The Free Press, 1997. Pp. 5-6.


Marginal and Total Opportunity Cost from PPF. YouTube. 5 August 2012. 6 October 2015 http://www.youtube.com/watch?v=iZYkQDloJnE.


McConnell, Campbell, Stanley Brue, and Sean Flynn. Contemporary Economics. 18th ed. Columbus, OH: McGraw-Hill, 2008. Ch. 2.


Money Instructor, Play Money. 6 October 2015 http://www.moneyinstructor.com/play.asp.


National Council for Economic Education. 6 October 2015 http://www.councilforeconed.org/.


News Hounds. 6 October 2015 http://newshounds.keenspot.com/images/NH1/Fan%20Art/scarcity.jpg.


Ripp, Ken. Bead Game Simulation. Foundation for Teaching Economics. Davis, CA. 2001. 6 October 2015 http://www.fte.org/teachers/lessons/lessons.htm.


Rosenman, Robert E. "Marginal Analysis." School of Economic Sciences. Washington State University. 22 August 2009. 3 April 2014


Schenk, Robert E. The Circular Flow. 6 October 2015 http://ingrimayne.com/econ/TheFirm/CircularFlow.html.


Shark Tank Season 2 Finale Onesole Shoes. YouTube. 12 July 2014


Spadaccini, Michael. “The Basics of Business Structures.” Entrepreneur.com. 9 March 2009. 6 October 2015 http://www.entrepreneur.com/article/200516.


Tablet Comparison. 9 to 5 Mac. Apple Intelligence. 6 October 2015 http://9to5mac.com/2011/02/09/tablet-comparison/.


Resources for Further Professional Knowledge (Summer Reading List for Teachers)

Ariely, Dan. Predictably Irrational: The Hidden Forces That Shape Our Decisions. New York: HarperCollins, 2009.


Friedman, Thomas L. The World Is Flat: A Brief History of the Twenty-first Century. New York: Farrar, Straus & Giroux, 2005.


Levitt, Steven D. and Stephen L. Dubner. Freakanomics: A Rogue Economist Explores the Hidden Side of Everything. New York: HarperCollins, 2005


Miller, Roger LeRoy, Daniel K. Benjamin, and Douglass C. North. Economics of Public Issues, The (15th Edition). New York: Addison Wesley, 2007.

XUnit 2: Microeconomic Challenges
(Week 4, 5 Weeks)

This unit introduces students to the study of microeconomics. Students explore market behavior of individual consumers and firms in an attempt to understand the decision-making process of households and businesses. They examine the interaction between individual buyers/consumers and sellers/ producers and the factors that influence the choices they make. Through case studies and scenarios, students apply the Law of Demand and Law of Supply. In doing so, they analyze the interactions of buyers/consumers and sellers/producers when a market condition such as income, technology, size of the market, or price of compliment or substitute goods changes. Using a simulation, students discover how competitive pressures in a market economy resolve the differences between the goals of buyers and the goals of sellers. These competitive pressures, in the absence of any outside interference, result in a market clearing price (equilibrium). Students investigate how a variety of changes in the marketplace affect quantity demanded, quantity supplied, and the market clearing (equilibrium) price. In addition, students consider how changes in price affect the behavior of buyers and sellers (elasticity). Next, students analyze how incentives affect choices of individuals and organizations. Students then explore and assess the intended and unintended consequences of market distortions such as price floors and price ceilings in a market economy. The unit concludes with students engaging in substantive discourse about microeconomics in theory and practice.

How do market forces affect the decisions of individuals, organizations, and societies?

  1. How does information about the market influence the decisions of individuals and organizations?
  2. How does price provide information that influences the behavior of consumers and producers in a market?
  3. How can the study of microeconomics enable people and organizations to make rational decisions in the allocation of resources?

determinants of demand

determinants of supply



Law of Demand

Law of Supply


market clearing price/equilibrium



price controls/market distortions



Cause and Effect

Compare and Contrast


Identifying Perspectives

Issue Analysis


11x17 paper


Chart paper or poster board


Computers with Internet Access


Construction paper


Markers for chart paper


Scissors, 1 pair




Overhead projector or document camera


Student Resource
TicketMaster. 28 Nov. 2009 http://www.ticketmaster.com


Stubhub. 28 Nov. 2009 http://www.stubhub.com


Ticketsnow. 28 Nov. 2009 http://www.Ticketsnow.com


Ticketliquidator. 28 Nov. 2009 http://www.TicketLiquidator.com


The Ticket is Right. 28 Nov. 2009 http://www.theticketisright.com


Teacher Resource

Arnold, Roger A. Economics in Our Time (Teacher's Edition). Grand Rapids: West Educational,



Market Basics: Demand, Supply, and Price Determination. The Right Start Institute. Foundation for Teaching Economics: Committed to Excellence in Economic Education. 28 Nov. 2009


In the Chips. Foundation for Teaching Economics: Committed to Excellence in Economic Education. 28 Nov. 2009


Mankiw, Gregory. Principles of Microeconomics Study Guide, Third Edition. New York: Holt Rinehart & Winston, 2003.


McConnell, B. Economics: Principles, Problems, and Policies (16th Edition). New York: Mc-Graw Hill, 2005.


McEachern, William A. Contemporary Economics. Mason, Ohio: Thomson South-Western, 2005.


Morton, John S., and Rae Jean B. Goodman. Advanced Placement Economics Teacher Resource

Manual. Upper Saddle River, NJ: National Council on Economic Education, 2005.


Oakland Schools Teaching Research Writing Website: Skills Progression & Lessons http://www.osteachingresearchwriting.org/


Debating the Minimum Wage. Finance and Economics. The Economist.com. 6 October 2015 http://www-personal.umich.edu/~kathrynd/minimumwage.pdf


Resources for Further Professional Knowledge
Lindstrom, Martin. Buyology: The New Science of Why We Buy. New York: Currency Doubleday,



XUnit 3: Macroeconomic Challenges
(Week 9, 4 Weeks)

This unit introduces students to the study of macroeconomics, focusing on the overall economy and measuring its performance. Students begin by focusing on the macroeconomic goals of an economic system: stable prices, high employment, and economic growth; and explore how these goals are measured: inflation or deflation rates, unemployment rates, and gross domestic product (GDP). After distinguishing between micro and macroeconomic perspectives, students consider macroeconomic challenges facing the United States and how they affect people and businesses in a market economy. Next, students examine the fundamentals of the business cycle in macroeconomics. They learn how the business cycle represents the primary means by which economists make sense of the ups and downs of our national economy. In doing so, students examine and use economic indicators to analyze and predict future macroeconomic expectations. By focusing on how business cycles are interconnected globally, students consider how economic changes in any nation can have worldwide consequences. Through an examination of the Gross Domestic Product (GDP) and unemployment, students learn the major economic factors that contribute to their calculation. Students then use what they have learned to make an economic brochure that highlights issues of unemployment in their local community. Next, students expand their understanding of money, not only as a medium of exchange and a store of value, but also as a measure of value. By engaging in an auction simulation, students experience the effects of inflation and deflation and discuss its consequences on overall economic well-being. The unit concludes with a look at financial institutions and financial markets. After exploring the stock market and researching a company of their choosing for investment purposes, students engage in small group discussions evaluating several companies in order to make a group decision on investing. Throughout the unit, students continue to write reflectively in their Perspectives on Decision Making Notebook in response to macroeconomic questions and deepen their understanding of economic terminology by completing their Essential Economics Terms handout.


How do the microeconomic activities of households, firms, community groups, and governments combine to form a domestic/national economic system?


  1. How are resources allocated and distributed in a competitive market economy?
  2. How do economic indicators measure aspects of the domestic/national economy?
  3. How should the United States, as a domestic economy, respond to macroeconomic challenges?

business cycle

circular flow

economic growth

economic indicators

financial markets


interest rates


savings/ investment



Cause and Effect

Compare and Contrast


Identifying Perspectives

Issue and Case Study Analysis






Internet access


LCD projector or overhead projector




Poster board


Student Resource

High School Economics Textbook.


Bureau of Labor Statistics. United States Department of Labor. 6 October 2015 http://www.bls.gov

6 October 2015 http://www.accessmylibrary.com/coms2/summary_0286-30294233_ITM


High School Economics Textbook.


*Tilly, Chris. The Wealth Inequality Reader. “Why Inequality is Bad for the Economy.” Economic Affairs Bureau. 2004. 78. 6 October 2015 http://www.uml.edu/centers/CIC/Research/Tilly_Research/tilly-Geese%2C%20golden%20eggs%2C%20traps-6.04.pdf


Teacher Resource

Bloomberg Businessweek. 6 October 2015 http://www.businessweek.com/


Business Day. The New York Times. 6 October 2015 http://www.nytimes.com/pages/business/index.html


Business Day, Economy. New York Times. 6 October 2015 http://www.nytimes.com/pages/business/economy/index.html?src=busfn


Capstone: Exemplary Lessons for High School Economics. NY: National Council on Economics Education, 2009. 6 October 2015 http://capstone.councilforeconed.org/


Economic Data Series Search. Economagic.com. 6 October 2015



Economics in Action. National Council on Economic Education. NY: 2007.


Economy. Wall Street Journal. 6 October 2015 http://online.wsj.com/public/page/news-economy.html


*Ehrenreich, Barbara. Nickel and Dimed: On (Not) Getting By in America. New York: Henry Holt Co., 2001.


Glossary. EconEdLink. National Council for Economic Education. 2 November 2010


Google, Finance. 6 October 2015 http://finance.google.com/finance?hl=en&tab=we


Gross Domestic Product. National Income Accounting. Slideshare. 6 October 2015 http://www.slideshare.net/knorman31/gross-domestic-product-what-is-not-included


Industry Browser, Sector List. Yahoo Finance. 6 October 2015 http://biz.yahoo.com/p/


“Is GDP a Satisfactory Measure of Growth?” General Statistic Databank. Organization for Economic Cooperation and Development (OECD). 6 October 2015htt p://www.oecdobserver.org/news/fullstory.php/aid/1518/


Investwrite! SIFMA Foundation for Investor Education. 2010. 6 October 2015 http://investwrite.info/


*Lawrence, Mishel, et al. The State of Working America 2008/2009. Economic Policy Institute. 2006-2010.


Mandel, Michael. GDP: What's Counted, What's Not. Business Week Online. Bloomberg Businessweek. 13 Feb. 2006. 6 October 2015 http://www.businessweek.com/magazine/content/06_07/b3971010.htm


Miller, John. “Mind Boggling Inequality: Enough to Make Even Adam Smith Worry.” Dollars and Sense. Jan/Feb, 2007. 6 October 2015 http://www.accessmylibrary.com/coms2/summary_0286-30294231_ITM


National Economic Indicators. Federal Reserve Bank of New York. 2 November 2010


*National Committee on Pay Equity. 6 October 2015 www.pay-equity.org


The Nation’s Unemployed: March, 2009. The Wall Street Journal. 6 October 2015 http://online.wsj.com/public/resources/documents/JOBLESSDATA09.html


NYSE Euronext. 2 November 2010


Oakland Schools Teaching Research Writing Website: Skills Progression & Lessons http://www.osteachingresearchwriting.org/


Online Lessons. EconEdLink. 6 October 201 5http://www.econedlink.org/lessons/


Packwood, Bob. “The GDP Question.” New York Times. 10 May 2009. 6 October 2015 http://www.nytimes.com/2009/05/11/opinion/11packwood.html


Reff, Steven and Dick Brunelle. Circular Flow. 2 November 2010


Saracevic, Alan T. GPI offers useful counterpoint to GDP. San Francisco Chronicle, 2005. 6 October 2015 http://articles.sfgate.com/2003-07-27/business/17500883_1_gpi-heart-attacks-product-or-gdp


Search Terms A-Z. The Economist. 6 October 2015 http://www.economist.com/research/economics/


Siklos, Pierre L. “What is Deflation.” Deflation. Economic History. Feb. 1, 2010. 2 November 2010


The Stock Market Game. SIFMA (Securities Industry and Financial Markets Association). 6 October 2015 http://www.stockmarketgame.org/


Teller-Elberg, Jonathan and Nancy Folbre, et al. Field Guild to the U.S. Economy: A Compact and Irreverent Guide to Economic Life in America. The Center for Popular Economics. NY: The New Press, 2006.


Unit 6 Lesson 33. Virtual Economics. V3. CD-ROM, 2009. 6 October 2015 http://ve.councilforeconed.org/


United States Economy. Times Topic. New York Times. 6 October 2015 http://topics.nytimes.com/top/reference/timestopics/subjects/u/united_states_economy/index.html


Visualization: Real US GDP Growth from 1930-2009. Many Eyes. June 26 2009. 2 November 2010


The Wall Street Journal. 6 October 2015



Wall Street trader's NYSE Trading Floor Tour. YouTube. 6 October 2015 http://www.youtube.com/watch?v=TPUDPhpCecA&feature=related


Yahoo Finance. 6 October 2015 http://finance.yahoo.com


Zencey, Erick. “G.D.P R.I.P.” New York Times. 9 Aug 2009. 6 October 2015 http://www.nytimes.com/2009/08/10/opinion/10zencey.html?_r=1


Resources for Further Professional Knowledge

Collins, James and Jerry Porras. Built to Last. NY: Harper Collins, 1994. (Business economics and leadership).


deSoto, Hernando. The Mystery of Capital. NY: Basic Books, 2000. (Property Rights- Fighting terrorism through economic development of developing countries).


Friedman, Thomas. The World is Flat. NY: Farrar, Straus & Giroux, 2005. (Global Economy).


Greider, William. Secrets of the Temple. NY: Simon & Schuster, 1987. (Monetary Policy - The Story of the Federal Reserve System).


Levitt, Steven D. and Stephen J. Dubner. Freakonomics. NY: William Morrow, 2005.


Novak, Michael. The Spirit of Democratic Capitalism. NY: Simon & Schuster, 1982. (The Interdependence of Life’s Three Forces; Economic, Political, Moral Cultural - Economics is not enough).


Rivoli, Pietra. The Travels of a T-Shirt in a Global Economy Hoboken, NJ: John Wiley & Sons, 2005. (Global Economy).


Sachs, Jeffrey. The End of Poverty. NY: The Penguin Press , 2005. (Global Standard of Living Gap).


Stiglitz, Joseph. Globalization and Its Discontents. NY: W.W. Norton, 2003. (Global Standard of Living Gap).


Yergin, Daniel and Joseph Stanislaw. The Commanding Heights. Kenk, UK: Touchstone Books, 1998. (Video and DVD also available from PBS; check PBS website for details) (Economic thought and the new global economy).


* Although the resources denoted with an asterisk are not cited in the lessons for this unit, they are included here to provide meaningful options for teachers.



XUnit 4: The Role of Government
(Week 13, 4 Weeks)

This unit focuses primarily on the federal government’s role in the economy.  Students begin the unit with a brief review of the three macroeconomic goals of an economy.  They are then introduced to the role of government in the economy by examining different government actions and/or regulation in the United States.  After exploring how these actions and regulations may serve the purposes of government as set forth in the Preamble to the U.S. Constitution and account for externalities, students revisit the circular flow model and add government’s role.  Students then examine a variety of examples of government policies and their influence on the circular flow.  They then explore tax policies as both a revenue generator for the government and as an incentive/disincentive for specific economic behavior.  In considering public goods and services, students consider why some are provided by the government, while others are not.  After learning how all taxes have a base, a rate, and a system, students use criteria to evaluate taxes and apply those criteria in developing a tax code.  Students then turn their attention to the federal budget, exploring revenue, expenditures (mandatory and discretionary), and the national debt. They analyze the budget and make recommendations for balancing the budget.  Students then learn to distinguish between fiscal and monetary policy and their tools.  The unit concludes with students comparing two contrasting views about the role of government in the economy that have been debated since early in the 20th century.  Throughout the unit, students continue to write reflectively in their Perspectives on Decision Making Notebook in response to macroeconomic questions and deepen their understanding of economic terminology by completing their Essential Economic Terms handout.

How can the U.S. government influence the economic environment to achieve macroeconomic goals in a global economy?

  1. How can the U.S. government influence the economic environment to achieve the macroeconomic goals?
  2. How can government policies influence the interactions of buyers and sellers in a market economy?
  3. How do fiscal and monetary policies affect individuals, businesses, and society?

circular flow


fiscal policy

government budget

government expenditures

government revenue (taxes, fees, fines)


macroeconomic goals

market imperfections/failures

monetary policy

money supply

national debt

property rights

public goods and services

public policy

regulation (consumer and worker protections)


transfer payments (entitlements)

Cause and Effect


Identifying Perspectives

Problem Solving



Chart paper and Markers


Computer Internet Access


Overhead Projector or Document Camera


Poster Board


Sticky Notes


Student Resources

ABC News. 6 October 2015 http://abcnews.go.com


Bloomberg News. 6 October 2015 http://www.bloomberg.com


Budget Hero. American Public Media. 2008. 4 May 2011


“Budget Puzzle: You Fix the Budget.” Week in Review. The New York Times. 13 November 2010. 6 October 2015 http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?ref=weekinreview


CNN. US Edition. 6 October 2015 http://www.cnn.com


"Fear the Boom and Bust" A Hayek vs. Keynes Rap Anthem. Youtube. 6 October 2015 http://www.youtube.com/watch?v=d0nERTFo-Sk (For audio use only).


Forbes. 6 October 2015 http://www.forbes.com


Fox News. 6 October 2015 http://www.foxnews.com


“The Great Tax-Cut Debate: The Proposals. Bloomberg Business Week. 17 Sept. 2010. Updated Oct. 27, 2010. 6 October 2015 http://www.businessweek.com/magazine/tax-cuts/


Hibbs, Jason. “Firefighters watch as home burns to the ground.” WPSD Local 6 - News, Sports, Weather - Paducah KY. 29 September 2010. 4 May 2011


“How Twitter Users Balanced the Budget.” Week in Review. The New York Times. 20 November 2010. 6 October 2015 http://www.nytimes.com/interactive/2010/11/21/weekinreview/21leonhardt-graphic.html?ref=weekinreview


Leonhardt, David. “O.K., You Fix the Budget.” The New York Times. 13 November 2010.


Mankiw, N Gregory. Principles of Economics: Fourth Edition. Thomson South-Western. United States. 2007.


MSNBC News. 6 October 2015 http://www.msnbc.msn.com


NBC News. 6 October 2015 http://www.nbc.com


Papola, John and Russ Roberts. Fear the Boom and Bust Rap. 6 October 2015 http://www.billyandadam.com


Tax Terms. Investopia. 6 October 2015 < http://www.investopedia.com/categories/taxes.asp


The Detroit Free Press. 6 October 2015 http://www.freep.com


The New York Times. 6 October 2015 http://www.nytimes.com


The Oakland Press. 6 October 2015 http://www.theoaklandpress.com


The Wall Street Journal.6 October 2015 http://www.wsj.com


Understanding Taxes, Student Glossary. IRS.com.6 October 2015 http://www.irs.gov/app/understandingTaxes/student/glossary.jsp


Von Hayek, Friedrich. The Road to Serfdom. Routledge, 1944. pp. 13-14, 36-37, 39-45.


Weisberg, Jacob. “Down with the People.” Washington Post. Newsweek Interactive Co. 6 Feb. 2010.

“Who Pays? A Distributional Analysis of the Tax Systems in All 50 States.” Institute of Taxation and Economic Policy. 3rd ed. Nov. 2009. 4 May 2011 http://www.itepnet.org/whopays3.pdf


Yergin, Daniel and Joseph Stanislaw. Profile of John Maynard Keynes. Commanding Heights. PBS/WGBH, 1998.


Teacher Resources

“16 Ways to Cut the Deficit.” Room for Debate. The New York Times. 14 November 2010. 6 October 2015 http://www.nytimes.com/roomfordebate/2010/11/14/16-ways-to-cut-the-deficit


“House Goes Up in Flames.” Youtube.com. 5 Oct. 2010. 4 May 2011


“Theme 3: Fairness in Taxes.” Understanding Taxes. IRS.gov. 6 October 2015 http://www.irs.gov/app/understandingTaxes/student/whys_thm03_les04.jsp


Krugman, Paul R. and Robin Wells. Economics. New York: W.H.Freeman & Co., Ltd., 2009.


McEachern, William A. Contemporary Economics. Australia: Thomson, 2005.


Oakland Schools Teaching Research Writing Website: Skills Progression & Lessons http://www.osteachingresearchwriting.org/


Role of Government in the Economy. U.S. Department of State. 6 October 2015 http://countrystudies.us/united-states/economy-6.htm


Siklos, Pierre L. “What is Deflation?” Wilfrid Laurier University. 1 Feb. 2010. 4 May 2011


U.S. Bureau of Labor Statistics Occupational Outlook Handbook. 23 April 2011 http://www.bls.gov


Resources for Further Professional Knowledge

Fishback, Price V. and Douglass C. North. Government and the American Economy. Chicago: University of Chicago Press, 2007.


Commanding Heights: Battle for the World Economy. PBS/WGBH. Heights Production, Inc. 2002. 6 October 2015 http://www.pbs.org/wgbh/commandingheights/lo/index.html


Martinez, Mark A. The Myth of the Free Market: The Role of the State in a Capitalist Economy. Sterling, VA: Kumarian Press, 2009.