# CTE Resource Center - Verso - Economics and Personal Finance Task 1609377852

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Demonstrate knowledge of the global economy.

Definition

Demonstration should include
  • explaining that when parties trade voluntarily, all benefit
  • distinguishing between absolute and comparative advantage
  • distinguishing between trade deficit and trade surplus
  • explaining exchange rates and the impact of a strong dollar and weak dollar on economic decisions
  • describing the costs and benefits of trade barriers
  • describing the effects of international trade agreements and the World Trade Organization
  • explaining growing economic interdependence.

Related Standards of Learning

English

10.5

The student will read, interpret, analyze, and evaluate nonfiction texts.
  1. Analyze text features and organizational patterns to evaluate the meaning of texts.
  2. Recognize an author’s intended audience and purpose for writing.
  3. Skim materials to develop an overview and locate information.
  4. Compare and contrast informational texts for intent and content.
  5. Interpret and use data and information in maps, charts, graphs, timelines, tables, and diagrams.
  6. Draw conclusions and make inferences on explicit and implied information using textual support as evidence.
  7. Analyze and synthesize information in order to solve problems, answer questions, and generate new knowledge.
  8. Analyze ideas within and between selections providing textual evidence.
  9. Summarize, paraphrase, and synthesize ideas, while maintaining meaning and a logical sequence of events, within and between texts.
  10. Use reading strategies throughout the reading process to monitor comprehension.

11.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts including employment documents and technical writing.
  1. Apply information from texts to clarify understanding of concepts.
  2. Read and correctly interpret an application for employment, workplace documents, or an application for college admission.
  3. Analyze technical writing for clarity.
  4. Paraphrase and synthesize ideas within and between texts.
  5. Draw conclusions and make inferences on explicit and implied information using textual support.
  6. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  7. Analyze false premises, claims, counterclaims, and other evidence in persuasive writing.
  8. Recognize and analyze use of ambiguity, contradiction, paradox, irony, sarcasm, overstatement, and understatement in text.
  9. Generate and respond logically to literal, inferential, evaluative, synthesizing, and critical thinking questions about the text(s).

12.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts.
  1. Use critical thinking to generate and respond logically to literal, inferential, and evaluative questions about the text(s).
  2. Identify and synthesize resources to make decisions, complete tasks, and solve specific problems.
  3. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  4. Recognize and analyze use of ambiguity, contradiction, paradox, irony, overstatement, and understatement in text.
  5. Analyze false premises claims, counterclaims, and other evidence in persuasive writing.

History and Social Science

GOVT.1

The student will demonstrate skills for historical thinking, geographical analysis, economic decision making, and responsible citizenship by

  1. planning inquiries by synthesizing information from diverse primary and secondary sources;
  2. analyzing how political and economic trends influence public policy, using demographic information and other data sources;
  3. comparing and contrasting historical, cultural, economic, and political perspectives;
  4. evaluating critically the quality, accuracy, and validity of information to determine misconceptions, fact and opinion, and bias;
  5. constructing informed, analytic arguments using evidence from multiple sources to introduce and support substantive and significant claims;
  6. explaining how cause-and-effect relationships impact political and economic events;
  7. taking knowledgeable, constructive action, individually and collaboratively, to address school, community, local, state, national, and global issues;
  8. using a decision-making model to analyze the costs and benefits of a specific choice, considering incentives and possible consequences;
  9. applying civic virtues and democratic principles to make collaborative decisions; and
  10. communicating conclusions orally and in writing to a wide range of audiences, using evidence from multiple sources and citing specific sources.

GOVT.12

The student will apply social science skills to understand the role of the United States in a changing world by

  1. describing the responsibilities of the national government for foreign policy and national security;
  2. assessing the role of national interest in shaping foreign policy and promoting world peace; and
  3. examining the relationship of Virginia and the United States to the global economy, including trends in international trade.

GOVT.13

The student will apply social science skills to understand how world governments and economies compare and contrast with the government and the economy in the United States by

  1. describing the distribution of governmental power;
  2. explaining the relationship between the legislative and executive branches;
  3. comparing and contrasting the extent of participation in the political process; and
  4. comparing and contrasting economic systems.

Other Related Standards

Economics and Personal Finance Standards of Learning

EPF.9

The student will demonstrate knowledge of the global economy by
  1. explaining that when parties trade voluntarily, all benefit;
  2. distinguishing between absolute and comparative advantage;
  3. distinguishing between trade deficit and trade surplus;
  4. explaining exchange rates, and the impact of a strong dollar and weak dollar on economic decisions;
  5. describing the costs and benefits of trade barriers;
  6. describing the effects of international trade agreements and the World Trade Organization; and
  7. explaining growing economic interdependence.

FBLA Competitive Events and Activities Areas

Accounting I

 

Accounting II

 

Banking and Financial Systems

 

Business Financial Plan

 

Economics

 

Entrepreneurship

The topic for this event changes from year to year. The annual topic may or may not correlate with this particular course. Please refer to the current Virginia FBLA State Handbook.

Global Business

The topic for this event changes from year to year. The annual topic may or may not correlate with this particular course. Please refer to the current Virginia FBLA State Handbook.

Introduction to Business

 

Personal Finance