HS.SS.4.C

Analyze the contributions of various economic philosophers, including Friedrich Hayek, Milton Friedman, John Maynard Keynes, and Adam Smith, and their impact on the U.S. free enterprise system.

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

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Vocabulary
contributionseconomic philosophersFriedrich HayekMilton FriedmanJohn Maynard KeynesAdam SmithimpactU.S. free enterprise system
Skills
  • analyze (the contributions of various economic philosophers) #dok3
  • explain (the impact of economic philosophers on the U.S. free enterprise system) #dok2
  • summarize (the main ideas of Hayek, Friedman, Keynes, and Smith) #dok2
  • compare (the philosophies of major economic thinkers) #dok3
  • evaluate (the influence of economic philosophers on current U.S. economic practices) #dok4
Learning Targets
  • I can identify major economic philosophers and their main contributions. #dok1
  • I can summarize the core economic ideas of Hayek, Friedman, Keynes, and Smith. #dok2
  • I can explain how each philosopher's ideas influenced the U.S. free enterprise system. #dok2
  • I can compare and contrast the philosophies of Hayek, Friedman, Keynes, and Smith. #dok3
  • I can analyze how the views of these philosophers have impacted the development of U.S. economic policy. #dok3
  • I can evaluate the continuing influence of economic philosophers on modern U.S. free enterprise. #dok4
Big Ideas
  • The ideas of key economic philosophers have fundamentally shaped the principles and practices of the U.S. free enterprise system.
  • Analyzing the contributions and impacts of diverse economic thinkers helps us understand the evolution and current state of U.S. economic policy.
Essential Questions
  • Who are the major economic philosophers that have influenced the U.S. free enterprise system?
  • What were the main economic ideas proposed by Hayek, Friedman, Keynes, and Smith?
  • How did each philosopher's contributions impact the development of U.S. economic policies?
  • In what ways do the legacies of these philosophers continue to affect the American economy today?
  • How do the philosophies of Hayek, Friedman, Keynes, and Smith compare and contrast with one another?