The STAARS Shine Bright on the U.S. Economy

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The STAARS Shine Bright on theU.S. EconomyLaura EwingPresident/CEOTexas Council on Economic Educationwww.economicstexas.orgwww.smartertexas.org [email protected]

The STAARS Shine Bright on the U.S. EconomyVisit economicstexas.orgSmartertexas.orgClick on resources for free Texas economics books

TCEETeaches teachers who teach students who are the future of TexasProvides interesting hands-on lessons that develop critical thinking skills for students in Economics, Social Studies, Math, and Career/Technical Education classes.

This workshop and the accompanying materials are made available to teachers through the generous support of State Farm and the Council for Economic Education.

TCEE Conferenceswww.econonomicstexas.orgOctober 4 arrivalOctober 5-6 Teacher ConferenceOctober 7 possible breakfast departureTCEE seeking scholarships

Economics Challenge

Fall and Spring Online Testing In Micro, Macro and International Economics

Adam Smith Division 2nd place national champs Bellaire HS 2010/3rd 2012

David Ricardo Division 3rd place national champs Plano HS 2010/4th place 2012

State competition all online this year

Personal Financial Literacy ChallengeMiddle and High School

Fall and spring online challenges will determine state finalist candidates

State Play-Offs in Austin with cash awards for two top teams

HS national finals at Fed in St. Louis

Bellaire HS Houston 2nd in nation 2012

Stock Market Game InvestWriteTeams of 2 to 5 studentsGrades 4 to 12Cost: $10 a team10 week Student SessionEach Fall and Spring

www/economicstexas/org How Do You Get These Materials?www.economicstexas.org

Select either Browse Economics ConceptsOr Browse Economics Lessons

Select Grade BandSelect either Browse Economic Concepts or Browse Economics Lessons. There are more than 1,400 lessons on the CD.

Then select the grade band to narrow your choices.10

Selected lesson

Once you select a lesson you will see a brief summary of the lesson and a list of the concepts it addresses. You may choose to save the lesson or to view a pdf of the entire lesson.11Your state council on economic education or local center for economic education director has indicated you as someone who has recently attended a training on the use of one of our materials. As such, we would like to know about your experience with both our training and our product. Please take the time to fill out the following survey. 1.Overall, how effective will this publication be in helping you plan instruction?(1 = Useless, 3 = Somewhat Effective, 5 = Very Effective)12345To Receive VE4.0, Please Complete and Turn In- 1. A Registration form with the date, location and title of the workshop written in at the top of the form.2. 2 evaluation forms with the date, location and title of the workshop written in at the top of the form. The evaluation begins with

7th Grade Economics TEKS(B) trace the development of major industries that contributed to the urbanization of Texas such as transportation, oil and gas, and manufacturing; and (C) explain the changes in the types of jobs and occupations that have resulted from the urbanization of Texas.

8th Grade Economics TEKS(12) Economics. The student understands why various sections of the United States developed different patterns of economic activity. The student is expected to:(A) identify economic differences among different regions of the United States;(C) explain the reasons for the increase in factories and urbanization; and(D) analyze the causes and effects of economic differences among different regions of the United States at selected times in U.S. history.

U. S. History Post Reconstruction TEKS(1) History. The student understands the principles included in the Celebrate Freedom Week program. The student is expected to:(A) analyze and evaluate the text, intent, meaning, and importance of the Declaration of Independence and the U.S. Constitution, including the Bill of Rights, and identify the full text of the first three paragraphs of the Declaration of Independence;(B) analyze and evaluate the application of these founding principles to historical events in U.S. history; and

US History Post Reconstruction TEKS(3) History. The student understands the political, economic, and social changes in the United States from 1877 to 1898. The student is expected to:(B) analyze economic issues such as industrialization, the growth of railroads, the growth of labor unions, farm issues, the cattle industry boom, the rise of entrepreneurship, free enterprise, and the pros and cons of big business;

US History Post Reconstruction TEKS(27) Science, technology, and society. The student understands the impact of science, technology, and the free enterprise system on the economic development of the United States. The student is expected to:

explain the effects of scientific discoveries and technological innovations such as electric power, telephone and satellite communications, petroleum-based products, steel production, and computers on the economic development of the United States;

What Role Does Geography Play In1. how Texans make a living2. where people settle

What are the factors of production?1. Land 2. Labor3. Capital4. Entrepreneurship

Texas Boomtowns: the Impact of Oil Discovery on A Community Economic Vocabularydemand supply goods and services profitpriceboomtown entrepreneur production

What would life be like if25 new families moved into your neighborhood and every neighborhood in your area?there were so many more peoplewhat would you need?

What do you see in these photos from 1901?What do you think these photos represent?Where is Beaumont, Longview?

Spindletop Changed Rural Areas to BoomtownsBeaumont population grew from 9,000 people to 50,000 in three months.Breckinridge population went from 600 in 1918 to 30,000 in 1919February 1931 Longview grew from 5,000 to 10,000 in 2 months

How would their lives have changed????

Goods and ServicesWhat is the difference?Good: Service:

Which of the items on the list are goods and which are services?

Rank order: which do you think most important to least important.

Primary SourcesYou are going to be in six different groups.Your group will read one primary source together.What goods and services are limited in supply?What factors caused an increased demand for G & S?What new occupations developed? Why?Are your lists of important goods and services the same as those 100 years ago? Explain.What examples of entrepreneurship are there? What are examples of profit motive?

Spindletop Changed Rural Areas to BoomtownsShare your answers with your expert group.Switch groups and share what you learned about the new story

PROCESSPretend that you live in a community that will soon have a huge boom in population.It is a fictional town in the panhandle of Texas in Floyd County. There are 125 people now. You are close to highway 70.Oil has been discovered and 1000 population is expected within 2 months

PROCESS 2Floyd County: 125 to 1000 population in 2 monthsOne gas station which sells groceries (mainly milk and bread)Work in small groups to:A. List problemsB. What goods and services will they need?C. Make a list of actions needed to help people deal with population boom.

What is Fracking???. Please read your section of the article: http://stateimpact.npr.org/texas/tag/fracking/?gclid=CO7FraGdp7ACFWLktgodhx46Yw

Answer the following questions. What is fracking?Where is the fracking taking place? What are three important points about what is happeningUsing the map, what do you notice about locations?

Read your segment of the Eagle Ford Fracking Article and provide pro and con arguments concerning fracking. http://www.bloomberg.com/news/2011-12-20/eagle-ford-drilling-rush-may-boost-texas-tax-revenue-15-fold.htmlYou will meet with several other students. Each person will explain pros and cons of fracking. Make a list of the pros and cons discussed. Next, choose one pro and one con. Make a list of what you think the next steps should be for these?

What are the Pros and Cons of Fracking?

Compare Beaumont with Small Towns in Texas Today With Fracking?

Beaumont early 1900Small towns Early 2000What was the discovery?Compare the roles that technology played in the discovery.Compare the roles that geography played in the discovery.What impact did these discoveries have on urbanization?What were similar lifestyle and social changes and how the people handled them? What were differences in lifestyles and social changes and how people handled them?Cotton Industry in Texasdemand supply goods and services profitpricenatural resources entrepreneur production Civil War land labor capitalinterdependent

Critical QuestionsWhat would life be like if there was no cotton? How important is cotton production to the economy of Texas? How has the production of cotton changed in TX? What role does cotton play in economic interdependence? What role does the climate and soil play in where cotton can be grown? What economic concepts apply to the production of cotton?

Quick Jigsaw1. Please number the paragraphs on pages 87-88.2. Think: please read your paragraph(s) and think of a creative way to provide others with the main points.3. Share: please share key points you have learned.

1. The Allen brothers and Buffalo Bayou?

2. Cotton and slavery before the Civil War?

Why did immigrants come to Texas after the Civil War?How does the cotton crop connect Texas to the nation and to the world?

What Is the Connection Between?

Jeans?Socks?Other?

Are you wearing cotton?

What role does geography play in the growth of cotton?

Where is it grown?

How Much Cotton Can Be Grown In One Acre Of Land?Review the figures on page 94If you were a producer of cotton goods, what product would you produce and why?

The Process of Producing Cotton in the Early Days of TXRead page 92.

Where are the Brazos and Colorado Rivers? Why was cotton grown here?

How is production of cotton labor intensive?

What is the timeline for production of cotton?

Picking CottonRead page 93.

What type of work would you like to do the most? The least? Why?

Compare MapsRead page 97.

What differences do you see?

Why do you think that west Texas was able to produce cotton by 1929?

Cotton Production TodayHow is cotton production different today?How would economic activities differ?What role has technology played in the changes in production?How has the role of human labor changed over time?

How has cotton been an economic milestone?

What role did it play with Texas involvement in the Civil War?

What do you know about the US Articles of Confederation and U.S. Constitution?Years?Purpose?

Who wrote?

Why?TEKS for World Cultures(9) Economics. The student understands the various ways in which people organize economic systems. The student is expected to:(A) compare ways in which various societies organize the production and distribution of goods and services;(B) compare and contrast free enterprise,

(11) Government. The student understands the concepts of limited and unlimited governments. The student is expected to:(C) identify reasons for limiting the power of government; and

TEKS for Texas History(14) Government. The student understands the basic principles reflected in the Texas Constitution. The student is expected to:(B) compare the principles and concepts of the Texas Constitution to the U.S. Constitution, including the Texas and U.S. Bill of Rights.

TEKS for 8th U.S. History(1) History. The student understands traditional historical points of reference in U.S. history through 1877. The student is expected to:(A) identify the major eras and events in U.S. history through 1877, including revolution, drafting of the Declaration of Independence, creation and ratification of the Constitution, (B) apply absolute and relative chronology through the sequencing of significant individuals, events, and time periods; and(C) explain the significance of the following dates: 1776, adoption of the Declaration of Independence; 1787, writing of the U.S. Constitution

TEKS for 8th U.S. History (cont.)(14) Economics. The student understands the origins and development of the free enterprise system in the United States. The student is expected to:(A) explain why a free enterprise system of economics developed in the new nation, including minimal government intrusion, taxation, and property rights; and(B) describe the characteristics and the benefits of the U.S. free enterprise system during the 18th and 19th centuries.

TimelineContinental Congress is government from 1775 to 1781American Revolution 1775 to 1783Declaration of Independence July 4, 1776Treaty of Paris September 3, 1783Articles of Confederation (1777) Ratified by all 13 in 1781U. S. Constitution signed September 17, 1787U.S. Constitution ratified with New Hampshire 1788First presidential election 1789

U. S. ConstitutionFirst Continental Congress met September 5, 1774 in Philadelphia in response to the Coercive Acts (Intolerable Acts) passed by Parliament which had punished Boston for the Boston Tea partyAgreed to petition King George for redress of grievances12/13 colonies attended with 56 people (only Georgia, the convict state not included)

First CC agreed to meet again next yearShot heard round the world in Lexington 1775

Second Continental CongressBegan meeting in Philadelphia May 1775Organized the war effortCommissioned writing of Declaration of Independence When in the course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Gods Nature entitled themshould declare the causes which impel them to the separation.

Declaration of IndependenceWe hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness-that to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, That whenever any Form of Government because destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new GovernmentRight to revoltafter a long train of abusesList of grievancesJohn Hancocks signatureWritten by Thomas JeffersonEconomic Problems During the Articles of ConfederationDebt

Taxation

Tariff Battles

Military WeaknessA New Nation in 1781: One Nation or Thirteen?Guidelines for the activity:1. Individually read the problem and the predicting consequences.2. Succinctly state the problem in one sentence.3. What do you think the consequences will be?4. Work in a small group and compare your problem sentences. As a group restate the problem statement.5. As a group, restate what you predict the consequences will be.6. Share your answers with the class.Processing Activity on Articles of ConfederationHow did the Articles reflect the wishes of a people vying for less centralized power?What were issues with the Articles?What will happen as a result of the issues?The U. S. Constitution: The Rules of the GameWhat is the role of the government in the U.S. market economy?

Constitutional ConventionMay to September 1787September 17, 1787 is Constitution DayThe U. S. Constitution: The Rules of the GameThe new nation was in financial crisis.The new states sent 55 leaders to amend the Articles of Confederation.They met from May until September 1787.They quickly learned that they needed to make substantial changes. They wrote a new Constitution based on Adam Smiths concepts of economic freedom. What were the new rules of the game?

The Constitution: Rules for the Economy As you participate in the activity, notice the new rules of the game, why they were established, and the expected outcomes.Read Economic Freedom and the Founders

The Particular:Name and summary of statementLocation In US ConstitutionBased on the rule, how would you decide on the question?1. 2. 3. 4. 5. 6. Rules of the Game and YOUWhat are three ways that the rules of the game affect you:

Economically?

Personally?

PlayfulEconomics

Laura EwingPresident/CEOTexas Council on Economic Education (TCEE)www.economicstexas.org [email protected]

How can you make math, CT and social studies hands-on and relevant while teaching critical thinking skills?





Texas Essential Knowledge and SkillsEconomics and Play Dough Economics

Describe how the free enterprise system works


Lesson 12:Market Price IIMarket Price: Changes in Supply and Demand


Concepts of the USFree EnterpriseEconomic System

How do changes in demand affect market price?

How does the market price guide what producers or suppliers produce?

Concepts of the Texas/USFree EnterpriseEconomic System

Why must costs be subtracted from revenues to determine profits?

How can certain events cause costs to change, which can affect profits?

Market Price FocusWhat is meant by demand?What are three things you demand economically?How much will you pay for them?What determines if you demand/buy them?

Market Price CompetitionWe will divide into factories with 4 to 6 workers in each factory.Choose a production manager.Choose an accountant

Production RoundsThere will be 3 rounds of 5 minutes each.You will produce any amount, but at least one of the apple, hammer, shirt and cup/saucer in 2 inch dimensions.Each product must have 2 colors.

Production RoundsEach product must have 2 colors.You may only use your hands no capital.You may specialize.Produce at least one of each but as many as possible.

Get Your Play Dough


Time IS UP!Count the quantity produced of each product.Record the quantities on the Revenues WorksheetWe will do a class total.We will draw a demand card.We will determine prices and factory earnings.

Supply, Demand and Market Price ChartGoods Supplied by ClassResulting Market Price With NO Change in Demand Resulting Market Price with Decrease in DemandResulting Market Price with Increase in Demand0-8$10$8$139-12$7$5$1013-16$5$3$717-20$3.50$2$4Over 20$2$1$3Between The RoundsTally your round one resultsPlan your production strategy for round 2.The production manager has the final authority on what to produce.

Get Your Play Dough


Time IS UP!Count the quantity produced of each product.Record the quantities on the Revenues Worksheet.We will do a class total.We will draw a demand card.We will determine prices and factory earnings.

Supply, Demand and Market Price ChartGoods Supplied by ClassResulting Market Price With NO Change in Demand Resulting Market Price with Decrease in DemandResulting Market Price with Increase in Demand0-8$10$8$139-12$7$5$1013-16$5$3$717-20$3.50$2$4Over 20$2$1$3ProcessWhat patterns do you see in the Supply, Demand, and Market Price Chart?In a market, what two things are needed for a price to be determined?What caused price to change?

More Process

How did price influence your production decisions?

5. How did other groups influence your strategy and plans?


Concepts of the Texas/USFree EnterpriseEconomic System

How do changes in demand and supply affect market price?

How does market price help producers determine what to produce?

ProcessWhat trends do you see ?What are three things you have learned about how the market or free enterprise system operates?What concepts and TEKS would this activity teach?



TEKSGovernment:5d. Understand how government taxation and regulation can serve as restrictions to private enterprise.6b. Understand the roles of the executive and legislative branches in setting international trade and fiscal policies.High School U.S. History16A Identify the causes of the Great Depression, including the impact of tariffs on worldwide trade, stock market speculation, bank failures and monetary policy of the Free Enterprise System.

Focus:

If a presidential election were held tomorrow, what would be three issues of concern for you that would impact your vote?1. 2. 3.

Homework: Activity A 8. 1Ask a person who is at least 18 years of age the following question:

Please indicate the three issues that are most important to you as you decide who will get your vote in a U. S. presidential election.1. 2. 3.

Due Date; ________________________________________________

Homework Due _______What are the common answers?

What do you think about the answers?

How many are economic answers?

Do you think the economy is in good shape today?What do the indicators indicate about the economy?

DefinitionsVisual 8.1

Economic Indicators

Statistics Based on IndicatorsUnemployment RateInflation rateGrowth rate in per capita GDPMisery IndexGrowth rate in real GDPIndicatorsUnemployment rate: the percentage of people in the labor force who are unemployed.Inflation rate: The percentage increase in the overall price level. Real GDP: the value of all final goods and services produced in a country in a year, expressed in terms of constant dollars.

Statistics Based on Indicators

1. Misery Index: The sum of the unemployment rate and the inflation rate.2. Real Per Capita GDP Growth Rate: The percentage change in real GDP per person

Activity 8.2 Economic Indicators for Presidential ElectionThink, Pair, Share1. What do you see on the chart?2. What year since 1957 has the unemployment rate been the highest?3. What year had the highest inflation rate?What year had the highest Misery Index?

Who Won Presidential Elections?Did the incumbent win?Did the in office party win?

PredictionsPredict who you think will win based on the data onActivity 8.2.

Write two or more rules that demonstrated how to apply the data

Share your rules and evaluate them.

The Economy and The President

Review the rules on 8.2 and 8.3.

Which of these rules serve as a strong predictor?

Which ones do not?

Which election was hardest to predict and why?Do economics play a role in presidential elections?

ClosureDo you believe the data we have studied shows that economic conditions impact presidential elections? Is it fair to blame or give credit to the incumbent ?

Your state council on economic education or local center for economic education director has indicated you as someone who has recently attended a training on the use of one of our materials. As such, we would like to know about your experience with both our training and our product. Please take the time to fill out the following survey. 1.Overall, how effective will this publication be in helping you plan instruction?(1 = Useless, 3 = Somewhat Effective, 5 = Very Effective)12345To Receive VE4.0, Please Complete and Turn In- 1. A Registration form with the date, location and title of the workshop written in at the top of the form.2. 2 evaluation forms with the date, location and title of the workshop written in at the top of the form. The evaluation begins with

The STAARS Shine Bright on U. S. Economics!Laura EwingPresident/CEOTexas Council on Economic Educationwww.economicstexas.orgwww.smartertexas.org [email protected]

US History Post Reconstruction TEKS(27) Science, technology, and society. The student understands the impact of science, technology, and the free enterprise system on the economic development of the United States. The student is expected to:

explain the effects of scientific discoveries and technological innovations such as electric power, telephone and satellite communications, petroleum-based products, steel production, and computers on the economic development of the United States;

US History Post Reconstruction TEKS(3) History. The student understands the political, economic, and social changes in the United States from 1877 to 1898. The student is expected to:(B) analyze economic issues such as industrialization, the growth of railroads, the growth of labor unions, farm issues, the cattle industry boom, the rise of entrepreneurship, free enterprise, and the pros and cons of big business;

(4) Geography. The student understands the factors that influence the locations and characteristics of locations of various contemporary societies on maps and globes and uses latitude and longitude to determine absolute locations. The student is expected to:

(B) identify and explain the geographic factors responsible for patterns of population in places and regions;

(C) explain ways in which human migration influences the character of places and regions;

(D) identify and locate major physical and human geographic features such as landforms, water bodies, and urban centers of various places and regionsWorld Cultures Geography

World Cultures Economics(8) Economics. The student understands the factors of production in a society's economy. The student is expected to:(A) describe ways in which the factors of production (natural resources, labor, capital, and entrepreneurs) influence the economies of various contemporary societies

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The STAARS Shine Bright on the U.S. Economy