Compilation of Rules and Regulations of the State of Georgia
Department 505 - PROFESSIONAL STANDARDS COMMISSION
Chapter 505-3 - EDUCATOR PREPARATION RULES
Rule 505-3-.23 - Economics Education Program

(i) Candidates plan learning sequences that demonstrate social studies knowledge aligned with the College, Career and Civic Life (C3) Framework, state-required content standards, and theory and research.

(ii) Candidates plan learning sequences that engage learners with disciplinary concepts, facts, and tools from the social studies disciplines to facilitate social studies literacies for civic life.

(iii) Candidates plan learning sequences that engage learners in disciplinary inquiry to develop social studies literacies for civic life.

(iv) Candidates plan learning sequences where learners create disciplinary forms of representation that convey social studies knowledge and civic competence.

(v) Candidates plan learning sequences that use technology to foster civic competence.

(i) Candidates design and implement a range of authentic assessments that measure learners' mastery of disciplinary knowledge, inquiry, and forms of representation for civic competence and demonstrate alignment with state-required content standards.

(ii) Candidates design and implement learning experiences that engage learners in disciplinary knowledge, inquiry, and forms of representation for civic competence and demonstrate alignment with state-required content standards.

(iii) Candidates use theory and research to implement a variety of instructional practices and authentic assessments featuring disciplinary knowledge, inquiry, and forms of representation for civic competence.

(iv) Candidates exhibit data literacy by using assessment data to guide instructional decision-making and reflect on student learning outcomes related to disciplinary knowledge, inquiry, and forms of representation for civic competence.

(v) Candidates engage learners in self-assessment practices that support individualized learning outcomes related to disciplinary knowledge, inquiry, and forms of representation for civic competence.

(i) Candidates use knowledge of learners' socio-cultural assets, learning demands, and individual identities to plan and implement relevant and responsive pedagogy that ensures learning opportunities for all students in social studies.

(ii) Candidates facilitate collaborative, interdisciplinary learning environments in which learners use disciplinary facts, concepts, and tools, engage in disciplinary inquiry, and create disciplinary forms of representation.

(iii) Candidates engage learners in ethical reasoning to deliberate social, political, and economic issues, communicate conclusions, and take informed action toward achieving a society that promotes the well-being of all.

(i) Candidates use theory and research to continually improve their social studies knowledge, inquiry skills, and civic dispositions, and adapt practice to meet the needs of each learner.

(ii) Candidates explore, interrogate, and reflect upon their own cultural frames to attend to issues of fairness, acceptance, access, power, human rights, and social justice within their schools and/or communities.

(iii) Candidates take informed action in schools and/or communities and serve as advocates for learners, the teaching profession, and/or social studies.

(i) Earning Income. Most people earn wage and salary income in return for working, and they can also earn income from interest, dividends, rents, entrepreneurship, business profits, or increases in the value of investments. Employee compensation may also include access to employee benefits such as retirement plans and health insurance. Employers generally pay higher wages and salaries to more educated, skilled, and productive workers. The decision to invest in additional education or training can be made by weighing the benefit of increased income-earning and career potential against the opportunity costs in the form of time, effort, and money. Spendable income is lower than gross income due to taxes assessed on income by federal, state, and local governments.

(ii) Spending. A budget is a plan for allocating a person's spendable income to necessary and desired goods and services. When there is sufficient money in their budget, people may decide to give money to others, save, or invest to achieve future goals. People can often improve their financial well-being by making well-informed spending decisions, which includes critical evaluation of price, quality, product information, and method of payment. Individual spending decisions may be influenced by financial constraints, personal preferences, unique needs, peers, and advertising.

(iii) Saving. People who have sufficient income can choose to save some of it for future uses such as emergencies or later purchases. Savings decisions depend on individual preferences and circumstances. Funds needed for transactions, bill-paying, or purchases, are commonly held in federally insured checking or savings accounts at financial institutions because these accounts offer easy access to their money and low risk. Interest rates, fees, and other account features vary by type of account and among financial institutions, with higher rates resulting in greater compound interest earned by savers.

(iv) Investing. People can choose to invest some of their money in financial assets to achieve long-term financial goals, such as buying a house, funding future education, or securing retirement income. Investors receive a return on their investment in the form of income and/or growth in value of their investment over time. People can more easily achieve their financial goals by investing steadily over many years, reinvesting dividends, and capital gains to compound their returns. Investors have many choices of investments that differ in expected rates of return and risk. Riskier investments tend to earn higher long-run rates of return than lower-risk investments. Investors select investments that are consistent with their risk tolerance, and they diversify across a number of different investment choices to reduce investment risk.

(v) Managing Credit. Credit allows people to purchase and enjoy goods and services today, while agreeing to pay for them in the future, usually with interest. There are many choices for borrowing money, and lenders charge higher interest and fees for riskier loans or riskier borrowers. Lenders evaluate creditworthiness of a borrower based on the type of credit, past credit history, and expected ability to repay the loan in the future. Credit reports compile information on a person's credit history, and lenders use credit scores to assess a potential borrower's creditworthiness. A low credit score can result in a lender denying credit to someone they perceive as having a low level of creditworthiness. Common types of credit include credit cards, auto loans, home mortgage loans, and student loans. The cost of post-secondary education can be financed through a combination of grants, scholarships, work-study, savings, and federal or private student loans.

(vi) Managing Risk. People are exposed to personal risks that can result in lost income, assets, health, life, or identity. They can choose to manage those risks by accepting, reducing, or transferring them to others. When people transfer risk by buying insurance, they pay money now in return for the insurer covering some or all financial losses that may occur in the future. Common types of insurance include health insurance, life insurance, and homeowner's or renter's insurance. The cost of insurance is related to the size of the potential loss, the likelihood that the loss event will happen, and the risk characteristics of the asset or person being insured. Identity theft is a growing concern for consumers and businesses. Stolen personal information can result in financial losses and fraudulent credit charges. The risk of identity theft can be minimized by carefully guarding personal financial information.