Social Studies Scope and Sequence, Financial and Economic Institutions

Social Studies Standard VI, Economics

Lesson 620, Financial and Economic Institutions

Knowing how to define money

Understanding how banks work

Knowing what the Federal Reserve is

Understanding how the Federal Reserve supports the U.S. economy

Understanding the role of the federal government in the economy

Understanding the reason for taxes

Understanding the variety of taxes at the federal, state, and local levels of government

Knowing what a corporation is

Understanding the role of labor in the economy

Knowing what unemployment is

Understanding the purpose and goals of a labor union

Knowing what the stock market is


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