HS.SS.21.B

Create economic models, including production-possibilities curves, circular-flow charts, and supply-and-demand graphs, to analyze economic concepts or issues.

High School · Texas Essential Knowledge and Skills (TEKS) · TEKS 2010

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Vocabulary
economic modelsproduction-possibilities curvescircular-flow chartssupply-and-demand graphseconomic conceptseconomic issues
Skills
  • create (economic models) #dok3
  • interpret (production-possibilities curves, circular-flow charts, supply-and-demand graphs) #dok2
  • analyze (economic concepts or issues using models) #dok3
  • select (appropriate economic models for analysis) #dok2
Learning Targets
  • I can identify and describe various economic models such as production-possibilities curves, circular-flow charts, and supply-and-demand graphs. #dok1
  • I can interpret economic models to extract information about economic concepts or issues. #dok2
  • I can select the appropriate economic model to analyze a given economic concept or issue. #dok2
  • I can create economic models to represent economic situations, concepts, or issues. #dok3
  • I can analyze economic concepts or issues by constructing and utilizing economic models. #dok3
Big Ideas
  • Economic models are essential tools for understanding, representing, and analyzing complex economic concepts and issues.
  • Creating and interpreting economic models enhances the ability to make informed decisions about economic situations.
Essential Questions
  • Why are economic models important for understanding economic concepts and issues?
  • How do different types of economic models (such as production-possibilities curves, circular-flow charts, and supply-and-demand graphs) help simplify and illustrate complex economic situations?
  • What are the steps involved in creating an economic model to represent a real-world economic issue?
  • In what ways can economic models both clarify and potentially limit our understanding of real-world economic problems?
  • How do you decide which economic model is the best choice for analyzing a specific economic issue?