SS.Econ3
Wisconsin Social Studies Standards · 4th Grade
Wisconsin students will analyze how an economy functions as a whole (Macroeconomics).
Child standards (10)
- SS.Econ3.a.1Identify the cost of everyday goods (e.g., milk, bread, fruit, vegetables, cheese).
- SS.Econ3.a.4Investigate how the cost of things changes over time.
- SS.Econ3.a.hAssess how decisions about spending and production made by households, businesses, and governments determine the country’s levels of income, employment, and prices. Analyze why unemployment rates differ for people of different ages, races, and genders. Use economic indicators to analyze the current and future state of the economy.
- SS.Econ3.a.mAnalyze how inflation, deflation, and unemployment affect different groups.
- SS.Econ3.b.1Categorize types of money (e.g., coins, bills) and explain why money is used. Formulate reasons why people save.
- SS.Econ3.b.5Describe the role of money, banking, and savings in everyday life, including why people borrow money and the role of interest.
- SS.Econ3.b.hEvaluate the structure and functions of money in the United States, including the role of interest rates.
- SS.Econ3.b.mDifferentiate between the functions of money (i.e., medium of exchange, store of value, unit of account). Assess how interest rates influence borrowing and investing.
- SS.Econ3.c.hConnect the components of Gross Domestic Product (GDP) to different parts of an economy and differentiate between real and nominal GDP. Compare and contrast the parts of a business cycle of an economy (i.e., expansion/prosperity, peak, contraction or recession, trough).
- SS.Econ3.c.mDefine Gross Domestic Product (GDP), and compare the GDP of different nations.