Social Studies Standards in Economics
Here are the CORE economics standards and selected example economics indicators within the Nebraska State Social Studies Standards.
Kindergarten - First Grade (By the end of first grade . . .)
1. Social Studies Kindergarten - First Grade Social Studies United States History, Geography, Civics/Government, Economics
1.5 Students will identify uses of technology, such as transportation and communication.
â€¢ Identify what inventions are.
â€¢ Describe a helpful invention.
â€¢ Explain why they are important.
1.6 Students will identify basic economic concepts.
â€¢ Recognize the difference between basic needs and wants, e.g. food, clothing, shelter, and affection.
â€¢ Explain differences between buyers and sellers/goods and services.
1.7 Students will explain how families and individuals earn, spend, and save.
â€¢ Match simple descriptions of work that people do with the names of those jobs
â€¢ Recognize the importance of work.
â€¢ Demonstrate the exchange of money for goods and services
â€¢ Identify ways to save money
1.8 Students will recognize good citizenship and its importance.
â€¢ Identifying how choices and actions affect themselves and others, e.g., making class rules, participating in
Fourth Grade (By the end of fourth grade . . .)
4. Social Studies Second, Third, and Fourth Grade Social Studies United States History, Nebraska History,
Geography, Civics/Government, Economics
4.1 Students will compare communities and describe how United States and Nebraska communities changed
physically and demographically over time.
â€¢ Identify changes in daily life past and present, e.g., roles, jobs, communication, technology, schools, and cultural
4.2 Students will describe the contributions from the cultural and ethnic groups that made up our national heritage:
Native Americans, Hispanic Americans, African Americans, European Americans, and Asian Americans.
â€¢ Identify famous inventors.
â€¢ Identify contributions of special groups, e.g., labor unions, buffalo soldiers, and farmers' co-ops.
4.3 Students will describe social and economic development of Nebraska in the 20th century.
â€¢ Identify the accomplishments of 20th century Nebraskans.
â€¢ Explain the impact of advance in transportation, communication, immigration, and economic development.
4.4 Students will describe the interaction between Native Americans and their environment on the plains prior to
â€¢ Explain how Native Americans used the resources for daily living.
â€¢ Describe the daily life of a Native American.
4.6 Students will identify significant individuals, historical events and symbols in their community and in Nebraska
and explain their importance.
â€¢ Identify members of Nebraska's Hall of Fame.
â€¢ Identify groups that have impacted Nebraska's history, e.g., buffalo soldiers, cowboys, and sodbusters and
4.8 Students will describe characteristics of a market economic system and the interactions of consumers and
â€¢ Describe the concepts of scarcity, choice, and the use of limited natural, capital, and human resources in an
â€¢ Explain the specialization and interdependence of producers and consumers involved in producing goods and
â€¢ Demonstrate how markets and prices help consumers buy and producers supply products and services in an
â€¢ Identify how changing modes of transportation and communication by entrepreneurs have changed the economic
system of the United States and Nebraska.
â€¢ Explain the purpose of taxes and their use and collection in an economic system.
4.9 Students will demonstrate an understanding of money and the financial system used in the United States.
â€¢ Identify the concepts of earning, saving, spending, and checking accounts and credit used by financial institutions
â€¢ Describe the functions of money in an economic system.
4.11 Students will use maps and globes to acquire information about people, places, and environments.
â€¢ Explain how physical characteristics, transportation routes, climate, and specialization influenced the variety of
crops, products, industries, and the general patterns of economic growth in Nebraska.
Eighth Grade (By the end of eighth grade . . .)
8. Social Studies Fifth, Sixth, Seventh, and Eighth Grade Social Studies United States History, World History, Nebraska History, Geography, Civics/Government, Economics
8.1 United States History
8.1.2 Students will analyze the major people, events, and ideas that led to the exploration and settlement of the
Americas by Europeans.
â€¢ Explain the motivations, obstacles, and accomplishments of sponsors and leaders of key expeditions from Spain,
France, Portugal, and England.
â€¢ Identify the economic, ideological, religious, and nationalist forces that led to competition among European
powers for control of the Americas.
â€¢ Identify the political, economic, and social impact of the encounter between European and early cultures in the
8.1.3 Students will describe key people, events, and ideas from colonial America.
â€¢ Explain the factors that led to the founding of the colonies, e.g., the escape from religious persecution, economic
opportunity, release from prison, and military adventure.
â€¢ Describe geographic, political, economic, and social contrasts in the three regions of New England, the mid-Atlantic, and the South.
â€¢ Describe life in the colonies in the 18th century from the perspectives of Native Americans, large landowners,
farmers, artisans, women, and slaves.
â€¢ Explain the principal economic and political connections between the colonies and England.
8.1.5 Students will describe growth and change in the United States from 1801-1861.
â€¢ Describe how the physical geography and various incentives influenced the movement of people, goods, and
â€¢ Describe the impact of inventions, e.g., the cotton gin, McCormick reaper, etc.
8.1.6 Students will identify and analyze causes, key events, and the effects of the Civil War and Reconstruction.
â€¢ Describe economic and philosophical differences between the North and South.
â€¢ Describe the impact of Reconstruction policies on the South.
8.1.7 Students will explain post Civil War changes in the United States, and the role of the United States in world
affairs through World War I.
â€¢ Explain why people immigrated to the United States describing their obstacles and contributions.
â€¢ Describe the growth of American cities and the impact on societies.
8.1.8 Students will describe key, social, economic and cultural developments from WWI through the Great
â€¢ Describe the economic factors that led to the Great Depression.
â€¢ Describe the extent and depth of business and farm failures, unemployment, and poverty.
â€¢ Describe the New Deal and the Depression and the future role of government in the economy.
8.1.9 Students will describe key people, events, and ideas since World War II.
â€¢ Describe the changing role of women in America.
â€¢ Describe the technology revolution and its impact on communication, transportation, and new industries.
â€¢ Describe the consumer economy and increasing global markets. .
â€¢ Explain the effects of increased immigration.
8.2 World History to 1000 A.D.
8.2.1 Students will describe human culture in the Paleolithic and Neolithic Eras.
â€¢ Describe how tool making, use of fire, agricultural revolution, and other technological and social advancements
improved life for early people.
8.2.2 Students will describe the impact of ancient river valley civilizations (Mesopotamia, Egypt, India, and China)
on the development of world cultures.
â€¢ Identify social, political, and economic institutions.
8.2.3 Students will describe the impact of history, culture, and geography of Greece and Rome on later civilizations.
â€¢ Describe the influence of geography on Roman economic, social, and political development.
â€¢ Identify and describe the economic and political contributions of Roman culture, e.g., mythology and architecture.
8.2.4 Students will describe the development and cultural impact of major religions.
â€¢ Describe the effect of religious, political, and economic competition.
8.2.5 Students will describe the impact of life in Medieval Europe on later civilizations.
â€¢ Describe the structure of feudal society and identify economic, social, and political effects.
8.2.6 Students will describe the impact of selected civilizations in Asia and Africa on the development of later
â€¢ Describe chronology, location, geography, social structures, forms of government, economy, and religion of each
8.3 Civics and Economics
8.3.1 Students will explain and compare the structures, functions, and powers of the three branches of government
at the national, state, and local levels.
â€¢ Explain the election and appointment of officials.
â€¢ Describe the division and sharing of powers among and within levels of government.
â€¢ Chart the separation and sharing of powers within levels of government.
â€¢ Outline the powers granted to Congress, the President, the Supreme Court, and those reserved to the states.
8.3.3 Students will compare the policy-making process at the local, state, and national levels of government.
â€¢ Explain the functions of departments, agencies, and regulatory bodies.
â€¢ Explain the ways that individuals and cultural, ethnic, and other interest groups can influence government policy
8.3.5 Students will explain the structure and operation of the United States economy and the role of citizens as
producers and consumers.
â€¢ Define the concepts of scarcity, choice, trade-offs, specialization, entrepreneurship, productivity, inflation, profits,
markets, supply and demand, and unemployment and incentives.
â€¢ Analyze the effect of producer and consumer behavior on markets.
â€¢ Describe the role of individuals and businesses as consumers, savers, investors, and borrowers.
â€¢ Explain how various institutions help individuals and groups accomplish economic goals.
â€¢ Describe common forms of credit, savings, investments, purchases, and contractual agreements, e.g., warranties,
â€¢ Analyze skills necessary for career opportunities, e.g., individual abilities, skills, and education, and the changing
supply and demand for those skills in the economy.
â€¢ Describe the development of money, savings, and credit.
8.3.6 Students will compare the United States economic system to systems in other countries.
â€¢ Describe the government's role in the United States economy, e.g., provision of public goods and services,
protection of consumer rights, and the promotion of competition.
â€¢ Describe the impact of government policies, on individuals and businesses, taxation, and government borrowing
â€¢ Explain how the government addresses third-party costs and benefits, e.g., pollution and medical research.
â€¢ Explain the differences between traditional command and market economics.
â€¢ Analyze the costs and benefits of instituting different degrees of market, command, and traditional characteristics
in to mixed economic systems.
8.3.7 Students will summarize the rights and responsibilities of United States citizens.
â€¢ Identify the way individuals of cultural, ethnic, and other interest groups can influence governments.
8.4.2 Students will demonstrate skills for historical analysis.
â€¢ Construct various time lines of United States history since 1877, e.g., landmark dates, technological and
economic changes, social movements, military conflicts, and presidential elections.
8.4.3 Students will develop skills in discussion, debate, and persuasive writing by analyzing historical situations and
â€¢ Describe the causes, costs, and benefits of major events in American history up to 1877, e.g., American
Revolution, the Constitutional Convention, the Civil War, and Reconstruction.
8.4.4 Students will evaluate different assessments of the causes, costs, and benefits of major events in recent
American history to develop discussion, debate, and persuasive writing skills.
8.4.5 Students will interpret economic and political issues as expressed in various visuals.
Twelfth Grade (By the end of twelfth grade . . .)
12. Social Studies Ninth, Tenth, Eleventh, and Twelfth Grade Social Studies United States History, World History,
Geography, Civics/Government, Economics
12.1 United States History
12.1.1 Students will analyze and explain the causes and effects of the Age of Discovery, contacts between Native
Americans and European settlers, and the creation of the American colonies.
â€¢ Explain the economic and cultural characteristics of the groups.
â€¢ Explain the motivation of ethnic and religious groups, and how immigrants influenced the settlement of colonies.
â€¢ Summarize the economic activity.
12.1.2 Students will analyze and explain the events and ideas of the Early National Period.
â€¢ Summarize the economic development, trade, tariffs, taxation, and trends in the national debt.
12.1.3 Students will analyze the causes and effects of major events of the Civil War and Reconstruction.
â€¢ Discuss the causes and effects of slavery.
â€¢ Discuss tariffs and trade.
â€¢ Describe the settlement of the Western United States.
â€¢ Discuss the economic and political impact of the war.
â€¢ Relate the impact of Reconstruction policies on the South.
12.1.5 Students will summarize causes and effects of the Industrial Revolution.
â€¢ Describe new inventions and industrial production methods.
â€¢ Summarize new technologies in transportation and communication.
â€¢ Explain incentives for capitalism and free enterprise.
â€¢ Describe the impact of immigration on labor supply and the movement to organize workers.
â€¢ Describe improvements in standards of living, life expectancy, and living conditions.
â€¢ Explain child labor, working conditions, and the rise of organized labor.
â€¢ Summarize government policies affecting trade, monopolies, taxation, and money supply.
12.1.6 Students will analyze the origins and effects of World War I.
â€¢ Summarize the political, social, and economic change in Europe and the United States.
12.1.7 Students will analyze and explain the Great Depression.
â€¢ Explain the causes and effects of changes in business cycles.
â€¢ Describe the weaknesses in key sectors of the economy in the late 1920's.
â€¢ Summarize United States government's economic policies in the late 1920's.
â€¢ Explain the causes and effects of the Stock Market Crash.
â€¢ Describe the impact of the Depression on the American people.
â€¢ Explain the impact of New Deal economic policies.
â€¢ Explain the impact of the expanded role of government in the economy since the 1930's.
12.1.11 Students will demonstrate an understanding of domestic policy issues in contemporary American society.
â€¢ Comparing conservative and liberal economic strategies.
12.1.12 Students will explain and demonstrate relationships between the geographical and the historical
development of the United States by using maps, pictures, and computer databases.
â€¢ Compare patterns of agricultural and industrial development in different regions as they relate to natural
resources, markets, and trade.
â€¢ Analyze the political, social, and economic implications of demographic changes in the nation over time.
12.2 World History: 1000 C.E. to the Present
12.2.1 Students will demonstrate an understanding of the state of the world about 1000 C.E.
â€¢ Summarize the institution of feudalism in Europe, Asia, and Africa.
â€¢ Summarize the growth of trade between civilizations, e.g., silk trade, gold and salt trade.
â€¢ Summarize the technological advances in Asia and Latin America, e.g., calendars and metallurgy.
12.2.2 Students will analyze the patterns of social, economic, political change, and cultural achievement in the late
â€¢ Explain the emergence and distinctive political developments of nation-states, e.g., Spain, France, England, and
â€¢ Describe the conflicts among Eurasian powers, e.g., the Crusades, the Mongol conquests, and the expansion of
the Ottoman Turks.
â€¢ Explain the patterns of crisis and recovery, e.g., the Black Death.
â€¢ Explain the preservation of Greek and Roman philosophy, medicine, and science.
12.2.3 Students will analyze the historical developments of the Renaissance.
â€¢ Explain the economic foundations of the Renaissance, such as European interaction with Muslims, increased
trade, role of the Medici's, and new economic practices.
â€¢ Describe the differences between the Italian and the Northern Renaissance.
12.2.5 Students will analyze the impact of European expansion into the Americas, Africa, and Asia.
â€¢ Discuss the roles and motivations of explorers/conquistadors.
â€¢ Explain the migration, settlement patterns, and cultural diffusion.
â€¢ Explain the exchange of technology, ideas, and agricultural practices.
â€¢ Discuss the trade in slaves, tobacco, rum, furs, and gold.
â€¢ Explain the economic and cultural transformations created by the emergence of plant-like tobacco and corn in
new places and the arrival of the horse in the Americas.
â€¢ Describe the competition for resources and the rise of the Commercial Revolution and mercantilism.
12.2.6 Students will compare and contrast Judaism, Christianity, Islam, Buddhism, Hinduism and Confucianism.
â€¢ Compare and contrast political, social, and economic influences of each.
12.2.7 Students will analyze the scientific, political, and economic changes of the 16th, 17th, 18th, and 19th
â€¢ Discuss how technological changes brought about social, political, and cultural changes in Europe, Asia, and the
12.2.8 Students will describe 19th century political developments in Europe, and their impact on the world.
â€¢ Describe the scramble for empire in Europe, Africa, and Asia Latin America.
â€¢ Address the feminist issues, e.g., divorce, property, and suffrage.
â€¢ Outline the abolition of slavery and slave trade.
12.2.9 Students will analyze and explain the effects of the Industrial Revolution.
â€¢ Describe the rise of industrial economics and their link to imperialism and colonialism.
â€¢ Explain how scientific and technological changes, e.g., the inventions of Watt, Bessemer, and Whitney, brought
about massive social and cultural change.
â€¢ Outline the responses to capitalism, e.g., utopianism, socialism, and communism.
â€¢ Relate how the status of women and children reflected societal changes.
â€¢ Explain the evolution of work and labor, e.g., the slave trade, mining and manufacturing, and the union movement.
â€¢ Explain how Asia and Africa were transformed by European commercial power.
â€¢ Summarize the dominance of global economic systems by European powers.
12.2.10 Students will analyze major 20th century historical events.
â€¢ Compare trends in global populations, growth and distribution over time.
â€¢ Differentiate the development of world economic associations, e.g., E.C., NAFTA, WTO, World Bank, IMF.
â€¢ Compare the causes and effects of World War I and World War II.
â€¢ Summarize the Russian Revolution.
â€¢ Summarize the political, social, and economic impact of the 1930's worldwide depression.
â€¢ Explain how new technologies, e.g., atomic power, influenced patterns of conflict.
â€¢ Discuss the economic and military power shifts since 1945, e.g., the rise of Germany and Japan as economic
12.3 The Governments and Economies of the United States and Nebraska
12.3.6 Students will analyze the structure, and function of the United States national governments and its
relationship to state governments.
â€¢ Identify specific policies related to foreign affairs, civil rights, and economics and the budget.
â€¢ Describe levels of taxation and the expectation of public services.
12.3.7 Students will analyze structure and function of Nebraska state and local governments.
â€¢ Describe levels of taxation and the expectation of public services.
12.3.8 Students will describe and explain the election process in the national, state, and local governments.
â€¢ Explain campaign funding and spending.
12.3.10 Students will compare the United States political and economic systems with those of major democratic
and authoritarian nations.
â€¢ Compare the structures, functions, and powers of political and economic systems. .
â€¢ Compare the relationship between economic and political freedom.
â€¢ Explain the allocation of resources and its impact on productivity.
â€¢ Describe the development and implementation of personal economic decision-making skills in a democratic
12.3.11 Students will analyze characteristics of the United States free market economy.
â€¢ Define labor, capital resources, and natural resources.
â€¢ Describe the role of private ownership, private enterprise, profits, and entrepreneurship.
â€¢ Compare the relationship between households, firms, and government.
â€¢ Explain the labor and management relationships.
â€¢ Discuss opportunity costs, scarcity, and balancing unlimited wants versus limited resources.
â€¢ Explain supply and demand, and the formation of basic economic questions, including what to produce, how to
produce, and for whom to produce.
12.3.12 Students will analyze the role of the national, state, and local government in the United States economy.
â€¢ Compare interstate commerce and trade policies.
â€¢ Discuss promoting economic growth by providing favorable conditions for markets.
â€¢ Compare providing public goods, services, and protection of the environment.
â€¢ Explain the interrelationship of producers, consumers, and government in the United States economic system.
â€¢ Discuss the impact of fiscal and monetary policy.
â€¢ Identify the basic economic goals in a free market system, including growth, stability, full employment, and
efficiency versus equity and justice.
12.3.13 Students will examine the basic economic indicators and fundamentals of international trade.
â€¢ Define Gross Domestic Product
â€¢ Define Consumer Price Index, employment statistics, and other measure of economic conditions.
â€¢ Explain comparative and absolute advantage.
â€¢ Discuss exchange rates.
â€¢ Explain international trade policies, and the United States relationship to the global economy.
12.4 World Geography
12.4.2 Students will analyze how selected physical and ecological processes impact the earth's surface.
â€¢ Relate how people's ideas and relationship to the environment change over time, particularly in response to new
12.4.3 Students will compare and contrast the distribution, growth rates, and characteristics of human population,
e.g., settlement patterns and the location of natural and human resources.
â€¢ Analyze past and present migration trends.
â€¢ Analyze the social, economic, political, and environmental factors that influence cultural interaction.
â€¢ Analyze past and present trends in human migration and cultural interaction as they are influenced by social,
economic, political, and environmental factors.
12.4.4 Students will analyze the patterns of urban development, such as site and situation; the function of towns
and cities; and problems related to human mobility, social structure, and the environment.
12.4.5 Students will analyze the regional development of Asia, Africa, the Middle East, Latin America, and the
Caribbean, such as physical, economic, and cultural characteristics and historical evolution from
1000 A.D. to the present.
â€¢ Analyze the patterns and networks of economic interdependence, e.g., formation of multinational economic
unions; international trade; the theory of competitive advantage; job specialization; competition for resources;
and access to labor, technology, transportation, and communications.
â€¢ Classify and describe the spatial distribution of major economic systems and evaluate their relative merits in terms
of productivity and the social and economic well being of workers.
â€¢ Explain how technological advances have led to increasing interaction among regions.
â€¢ Distinguish between developed and developing countries, identifying and relating the level of economic
development to the quality of life.
â€¢ Analyze how certain cultural characteristics can link or divide regions, e.g., language, ethnic heritage, religion,
political philosophy, shared history, and social and economic systems.
12.4.7 Students will apply geography to interpret the past, understand the present, and plan the future.
â€¢ Explain the historical migration of people, expansion and disintegration of empires, and the growth of economic
systems by using a variety of maps, charts, and documents.
â€¢ Relate current events to the physical and human characteristics of places and regions.