2020 Colorado Academic Standards Online
Use the options below to create customized views of the 2020 Colorado Academic Standards. For all standards resources, see the Office of Standards and Instructional Support.
Current selections are shown below (maximum of five)
clear Content Area: Social Studies // Grade Level: Fifth Grade // Standard Category: 3. Economics
Social Studies
Fifth Grade, Standard 3. Economics
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Prepared Graduates:
- 5. Understand the allocation of scarce resources in societies through analysis of individual choice, market interaction, and public policy.
Grade Level Expectation:
1. Trade shaped the development of early America.
Evidence Outcomes:
Students Can:
- Identify examples of the productive resources and explain how they are used to produce goods and services. For example: land, labor, and capital.
- Compare ways in which people and communities exchanged goods and services. For example: barter and monetary exchange.
- Identify the goods and services that were traded among different cultures and regions.
- Describe how patterns of trade evolved within early America.
- Explain some of the challenges that American colonists faced that would eventually lead them to the creation of commercial banks.
Academic Contexts and Connections:
Colorado Essential Skills:
- Investigate to form hypotheses, make observations and draw conclusions about the development of the systems of exchange in the United States. (Entrepreneurial Skills: Inquiry/Analysis).
- Recognize how members of a community rely on each other through trade and exchange. (Civic/Interpersonal Skills: Collaboration/Teamwork)
Inquiry Questions:
- How did different cultures or communities in early America interact with each other?
- Why do people trade?
- Why do most modern societies choose to use money?
- How are financial institutions important to society?
Nature and Skills of Economics:
- Economic thinkers analyze trade and the use of money.
- Economic thinkers describe and study the importance of exchange in a community.
- Economic thinkers understand the actions of financial institutions in a market economy.
- Economic thinkers make decisions about how to use scarce resources to maximize the well-being of individuals and society.
- Economic thinkers voluntarily exchange goods and services when both parties expect to gain as a result of the trade.
- Economic thinkers understand that the principles of markets apply to markets for goods and services, labor, credit, and foreign exchange.
- Economic thinkers understand why people specialize and trade, and how that leads to increased economic interdependence in the world economy.
- Economic thinkers gather information from a variety of sources and evaluate the relevance of that information when constructing opinions, explanation, or arguments.
Disciplinary, Information, and Media Literacy:
- Determine the kinds of sources that will be helpful in answering compelling and supporting questions, taking into consideration the different opinions people have about how to answer the questions.
- Integrate information from several texts on the same topic in order to write or speak about the subject knowledgeably.
- Draw evidence from literary or informational texts to support analysis, reflection, and research.
- Identify cause and effect, and fact versus opinion.
- Conduct research by locating, gathering, and organizing information using online and print resources.
- Explain content through the use of maps, graphs, charts, diagrams.
- Use content specific technology tools to support learning.
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Prepared Graduates:
- 6. Apply economic reasoning skills to make informed personal financial decisions (PFL).
Grade Level Expectation:
2. Examine how individuals use financial institutions to manage personal finances (PFL).
Evidence Outcomes:
Students Can:
- Differentiate between saving and investing.
- Establish the function of banking.
- Distinguish between different types of financial institutions such as banks and credit unions, and the services provided. For example: checking accounts, savings accounts, investments, and loans.
- Create a way to keep track of money spent and money saved.
Academic Contexts and Connections:
Colorado Essential Skills:
- Make connections between information gathered and personal experiences to apply and/or test solutions when choosing a financial institution or financial product. (Entrepreneurial Skills: Critical Thinking/Problem Solving)
- Express one’s own emotions, thoughts, and values and identify how they influence behavior when making decisions regarding choosing a financial institution or financial product. (Personal Skills: Self-Awareness)
- Ask questions to develop further personal understanding when choosing financial institutions and financial products. (Professional Skills: Self-Advocacy)
Inquiry Questions:
- What risks and benefits are associated with spending versus saving and investing?
- How can a checking account help to decide how to spend and save?
- Why do people use financial institutions rather than self-banking?
- How do people choose a financial institution?
Nature and Skills of Economics:
- Financially capable individuals research, analyze, and make choices regarding their needs when using financial institutions.
- Financially capable individuals identify positive and negative incentives that influence the decisions people make.
- Financially capable individuals use technology to track and graph the interest accrued on “virtual” investments, checking and savings accounts, investments, and loans.
Disciplinary, Information, and Media Literacy:
- Write informative/explanatory texts to examine a topic and convey ideas and information clearly.
- Conduct short research projects that use several sources to build knowledge through investigation of different aspects of a topic.
Need Help? Submit questions or requests for assistance to bruno_j@cde.state.co.us