New Mexico Administrative Code
Title 6 - PRIMARY AND SECONDARY EDUCATION
Chapter 29 - STANDARDS FOR EXCELLENCE
Part 11 - SOCIAL STUDIES
Section 6.29.11.18 - ANCHOR STANDARDS AND PERFORMANCE STANDARDS FOR HIGH SCHOOL ECONOMICS
Universal Citation: 6 NM Admin Code 6.29.11.18
Current through Register Vol. 35, No. 18, September 24, 2024
A. High school economics.
(1) The student shall
demonstrate an understanding of economic decision-making by:
(a) applying understanding of economic
concepts and systems to analyze decision-making and the interactions between
consumers, businesses, governments, and societies;
(b) gathering and evaluating sources to
explain the relationship between economic decisions and environmental
consequences;
(c) using
cost-benefit analysis and marginal analysis to evaluate an economic
issue;
(d) evaluating how economic
principles influence choices and can produce varied outcomes for different
individuals or groups; and
(e)
evaluating the market value of income earned through wages and other activities
associated with saving and investing.
(2) The student shall demonstrate an
understanding of economic systems and models by:
(a) analyzing the production, distribution,
and consumption of goods and services;
(b) evaluating economic theories for their
compatibility with democracy;
(c)
comparing the advantages and disadvantages of major economic systems found
around the world;
(d) critiquing
inequalities that exist in economic systems;
(e) using economic data to evaluate the
positive and negative aspects of American capitalism in relation to other
economic systems;
(f) analyzing how
national and global economic trends, practices, and policies impact the state
and local economies in New Mexico;
(g) critiquing the impact of globalization on
New Mexico and its citizens;
(h)
evaluating the impact of environmental externalities in New Mexican
communities; and
(i) evaluating
opportunities for economic diversification that can significantly impact state
and local conditions.
(3)
The student shall demonstrate an understanding of money and markets by:
(a) explaining how buyers and sellers
interact to create markets and market structures;
(b) evaluating how a variety of factors and
conditions in a market determine price and the allocation of scarce goods and
resources;
(c) evaluating the role
played by competition in the market;
(d) evaluating the role of financial
institutions in a market economy;
(e) analyzing the role of money in the
economy;
(f) critiquing specific
government policies and regulations initiated to improve market outcomes and
the intended and unintended consequences experienced by individuals,
businesses, communities, and states;
(g) generating possible explanations for a
government role in markets when market inefficiencies exist;
(h) evaluating the causes and implications of
market failures;
(i) explaining how
governments establish the rules and institutions in which markets operate at
the local, state, tribal, national, and international levels;
(j) using economic indicators and data to
analyze the health of the national economy in relation to other
countries;
(k) evaluating how
fiscal and monetary policy choices have economic consequences for different
stakeholders in a variety of economic conditions;
(l) evaluating foreign and domestic issues
related to United States economic growth overtime; and
(m) explaining the effect of advancements in
technology and training on economic growth and standards of living across
diverse groups and circumstances.
(4) The student shall demonstrate an
understanding of global economy by:
(a)
explaining how current globalization trends and policies affect economic
growth, labor, markets, rights of citizens, the environment, and resource and
income distribution in different nations;
(b) explaining how economic conditions and
policies in one nation increasingly affect economic conditions and policies in
other nations;
(c) evaluating how
geography, demographics, industry structure, and the rules of economic
institutions influence a nation's economic development;
(d) analyzing why a country might participate
in global trade;
(e) connecting how
trade agreements between nations have short- and long-term effects;
and
(f) constructing an argument
about how global interdependence impacts individuals, institutions, or
societies based on documented evidence.
(5) The student shall demonstrate an
understanding of personal financial literacy by:
(a) explaining how and why people make
choices to improve their economic well-being;
(b) comparing the costs and benefits of
saving, using credit, or making certain types of financial
investments;
(c) evaluating how and
why individuals choose to accept risk, reduce risk, or transfer risk to
others;
(d) investigating ways
personal information is fraudulently obtained;
(e) identifying voluntary (i.e. retirement
contributions) and involuntary deductions (i.e. payroll taxes) and how they
impact net income;
(f) preparing a
budget or spending plan that depicts varying sources of income, a planned
saving strategy, taxes, and other sources of fixed and variable
spending;
(g) evaluating options
for payment on credit cards and the consequences of each option;
(h) describing how a credit score impacts the
ability to borrow money and at what rate;
(i) identifying various strategies students
can use to finance higher education and how to access student aid through
completion of the free application for federal student aid;
(j) calculating the total cost of repaying a
loan under various rates of interest and over different time periods;
(k) explaining what a mortgage is, why most
Americans require a mortgage to finance a home, and the challenges of financing
mortgages on tribal land;
(l)
explaining how investing may build wealth and help meet financial goals (e.g.
stocks, bonds, mutual funds, retirement savings options, real estate);
and
(m) explaining various types of
insurance and the purpose of using insurance to protect financial
interests.
B. Inquiry.
(1) The student shall
demonstrate an understanding of constructing compelling and supporting
questions by:
(a) creating compelling
questions representing key ideas within the disciplines; and
(b) developing supporting questions that
contribute to an inquiry and demonstrate how, through engaging source work, new
compelling and supporting questions emerge.
(2) The student shall demonstrate an
understanding of gathering and evaluating sources by:
(a) gathering relevant information from
multiple sources representing a wide range of views while using the origin,
authority, structure, context, and corroborative value of the sources to guide
the selection; and
(b) evaluating
the credibility of a source by examining how experts value the
source.
(3) The student
shall demonstrate an understanding of developing claims by:
(a) identifying evidence that draws
information directly and substantively from multiple sources to detect
inconsistencies in evidence to revise or strengthen claims; and
(b) refining claims and counterclaims
attending to precision, significance, and knowledge conveyed through the claim
while pointing out the strengths and limitations of both.
(4) The student shall demonstrate an
understanding of communicating and critiquing conclusions by:
(a) constructing arguments using precise and
knowledgeable claims, with evidence from multiple sources, while acknowledging
counterclaims and evidentiary weaknesses;
(b) constructing explanations using
reasoning, correct sequence, examples, and details with significant and
pertinent information and data, while acknowledging the strengths and
weaknesses of the explanations given its purpose;
(c) presenting adaptations of arguments and
explanations that feature evocative ideas and perspectives on issues and topics
to reach a range of audiences and venues outside the classroom using print,
oral, and digital technologies; and
(d) critiquing the use of claims and evidence
in arguments for credibility.
(5) The student shall demonstrate an
understanding of taking informed action by:
(a) using disciplinary and interdisciplinary
lenses to understand the characteristics and causes of local, regional, and
global problems; instances of such problems in multiple contexts; and
challenges and opportunities faced by those trying to address these problems
over time and place; and
(b)
applying a range of deliberative and democratic strategies and procedures to
make decisions and take action in their classrooms, schools, and out-of-school
contexts.
Disclaimer: These regulations may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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