Provides an overview to the economic way of thinking, which is the
underlying theme in the Personal Financial Literacy standards.
- Identify the steps in economic reasoning.
- Define the terms associated with economic reasoning.
- Demonstrate the ability to apply economic reasoning.
- Demonstrate the ability to use the PACED Decision-Making Model.
Suggested Grade Level
6th – 12th Grade
To understand the roles of choices, we need to start by examining a typical day.
The alarm clock goes off and what happens? We make a choice. We can choose
to get up, hit the snooze button and sleep a little longer, or turn off the alarm
and sleep later. Once we get up, we choose what to wear, what to eat, where
to go, who to see, and when to go back to bed.