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The following instructional plan is part of a GaDOE collection of Unit Frameworks, Performance Tasks, examples of Student Work, and Teacher
Commentary for the Economics Course.
Sample Performance Task
Economic Scrapbook
Economic history should not be reduced to cold statistics in a periodical or textbook. The lives of real people are affected
each day by economic fluctuations and economic decisions made by individuals, businesses, and governments. The
Macroeconomic Scrapbook is your opportunity to add a human side to the economic headlines of our times. Each student is
to create a newspaper/magazine article scrapbook that focuses on the economic "crisis" that began in Fall 2007. The
newspaper/magazine scrapbook should include a minimum of six articles from prominent newspapers or magazines that
describe the following economic issues: the housing market, the failure of businesses including banks, actions taken by the
Federal Reserve, the rising inflation and unemployment rates, and the actions taken by the state or federal government. You
may also select articles that describe the public's response to theses issues and actions. Students will choose a minimum of
six different concepts from the elements in the macroeconomics standards and connect each selected concept to at least one
distinct article in the scrapbook.
Your written entry for each scrapbook page should provide a:



Summary of the article
Description of how the economic concept in the element is illustrated by the article. (Be sure to include a
definition of the concept.)
Personal thoughts and/or feelings about the situation described in the article.
OR



Summary of the article
Analysis of how the concept from the element could be part of a recommended solution to the economic problem
discussed in article. (Be sure to include a definition of the concept.)
Personal thoughts and/or feelings about the situation described in the article.
Each scrapbook page should include:




The article
Article details - publication, title, page number, and date
Border illustrations, pictures, and/or symbols related to the economic content in the article
A journaling box with your written entry
**Your finished scrapbook should provide a comprehensive overview
of the current US economic conditions. **
Georgia Department of Education
Kathy Cox, State Superintendent of Schools
ECONOMICS UNIT 4 PERFORMANCE TASK 2:
MACROECONOMICS ARTICLE SCRAPBOOK
UPDATED 09/01/2008  Page 1 of 4
Copyright 2007 © All Rights Reserved
Here is a sample written entry for an article on the housing market:
"This article describes the current state of the housing market. The writer emphasizes that in areas throughout
the U.S., people are unable or unwilling to pay their mortgages. The inability of many Americans to make their
payments coincided with large increases in interest rates on their mortgages. The rise in rates occurred at the
same time as home prices began to decline. Many people found that they now owed more on their mortgage
than their house was worth. As banks foreclosed on an increasing number of homes, lenders became more
selective in issuing mortgages to borrowers. One way that the Federal Reserve System could help solve this
problem is through monetary policy. By buying bonds on the open market, the Fed puts downward pressure on
the Fed funds rate, making it cheaper for banks to borrow from each other. With cheaper money available,
lenders may consider increasing the number of loans to borrowers. The downside of this monetary policy is that
it could raise prices as the money supply increases.
Reading this article, I feel sad for the homeowners who cannot stay in their houses. The family of a friend of
mine had to move into a small apartment when his family lost their home. This has made it harder for him have
friends over to hang out and has made him a bit depressed. I think is important for the government to find ways
to help people when times are tough because one economic problem like the housing/lending crises also affects
other parts of the economy like public services and employment opportunities."
Here are the Macroeconomics standards and elements from which you may choose:
SSEMA1 The student will illustrate the means by which economic activity is measured.
a. Explain that overall levels of income, employment, and prices are determined by the spending and production
decisions of households, businesses, government, and net exports.
b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation,
stagflation, and aggregate supply and aggregate demand.
c. Explain how economic growth, inflation, and unemployment are calculated.
d. Identify structural, cyclical, and frictional unemployment.
e. Define the stages of the business cycle; include peak, contraction, trough, recovery, expansion as well as recession
and depression.
f. Describe the difference between the national debt and government deficits.
SSEMA2 The student will explain the role and functions of the Federal Reserve System.
a. Describe the organization of the Federal Reserve System.
b. Define monetary policy.
c. Describe how the Federal Reserve uses the tools of monetary policy to promote price stability, full employment,
and economic growth.
SSEMA3 The student will explain how the government uses fiscal policy to promote price stability, full employment,
and economic growth.
a. Define fiscal policy.
b. Explain the government’s taxing and spending decisions.
Map and Globe Skills:
Information Processing Skills:
2,3,4,5,6, 10 11, 15, 16
Rubric for Performance Task
Scale
1
(Below Standard)
2
(Needs Improvement)
3
4
(Meets Standard) (Exceeds Standard)
Criteria
Unable to summarize
Written entries include a
article’s relationship to
summary of the article
describing the current economic current economic state
conditions/issues discussed.
Correctly summaries only
4 to 5 articles OR does
not emphasize the
article’s significance in
describing the current
economic state.
Correctly
In addition to
summarizes at least everything in 3,
six articles and shows includes a description
the article’s
of how the article
significances in
shows predictions or
describing the current analysis of future
economic conditions economic trends
in the state and/or
nation.
Correctly links 3 or
Correctly links at least
Correctly links at
In addition to
Written entry includes a
four to five economic
least six economic
everything in 3,
description or analysis linking fewer economic
concepts from the
concepts from the
concepts from the
student makes a
concepts from the
macroeconomics elements macroeconomics
logical prediction
macroeconomics standards and macroeconomics
elements to the selected to the selected articles
elements to the
about how the
elements to the article or to a
articles OR accurately AND accurately applies 4 selected articles AND economic situation
solution of the problem
applies 3 or fewer
to 5 concepts to the issue accurately applies the discussed may change
described in the articles.
concepts to the issue or or problem described in six concepts to the
within the next year.
problem described in the article.
issue or problem
the article.
described in the
article.
Articles included are summaries The student has 3 or
The student has four to
The student has at
The student has more
of:
less articles that
five articles that correctly least six articles that than six articles that
-The housing market.
correctly cover the
cover the topics stated in correctly cover the
correctly cover the
-Failing of businesses and banks. topics stated in the
the description of the
topics stated in the
topics stated in the
-The actions that the Fed has
description of the
assignment and the scale description of the
description of the
taken.
assignment and the
criteria.
assignment and the assignment.
-The rising inflation and
scale criteria.
scale criteria.
unemployment rates.
-The action that the government
has taken.
-People’s reaction as a whole.
In addition to
Articles should accurately reflects Scrapbook includes 3 or Student selected articles Student selected
everything in 3, student
these economic issues:
less of the economic
for the scrapbook
articles for the
-Pricing of houses
topics required.
accurately link to at least scrapbook accurately correctly analyzes how
-Spending decisions of households
consumers, producers,
four of the economic
link to six of the
-Inflation
and/or the government
topics listed in the criteria economic topics
-Unemployment
section.
listed in the criteria responded predictably
-Federal Reserve
to price changes.
section.
-Monetary policy (may be implied)
Student also correlates
-Fiscal policy (may be implied)
how these sectors of
-Taxing or Government spending
the economy are
with the market
interdependent.
Student makes no
Student regularly slips
Author acknowledges In addition to
Clarity of economics
attempt to explain
into pure economic
that most audience
everything in 3, author
terminology in scrapbook
economic terms and
language at the expense members have
consistently uses
entries.
concepts in a way that of the reader's
limited knowledge of common language and
the reader will
understanding of the
economic concepts examples to explain
understand.
current trends in the
without talking down economics
market.
to the “readers.”
terminology to
readers.
Scale
Criteria
Writing Style
Organization
Layout
1
(Below Expectation)
Product RUBRIC
2
3
(Needs Improvement)
(Meets Expectation)
Writing style lacks
elements that
personalize the entry.
Writing style is
sporadically engaging
for the reader.
Writing style personalizes
the entries, allowing the
reader to become
engaged.
Title page, table of
contents, page
number, sources
and/or date of
publication are
missing
Articles are thrown in
album with little care
to order or
attractiveness.
Articles are lacking
in neatness.
Article and
summarization are
not matted.
Embellishments have
little to do with the
actual article.
Scrapbook is lacking
one of the requirements
listed in the meets
expectation section.
Scrapbook contains a title
page, table of contents
and page number.
Articles' publication and
date of publication are
included.
Articles are cropped,
trimmed and matted.
Articles are laid out to
convey a sense of
relationship among the
events/issues highlighted
throughout the book.
Summarizations are
cropped, trimmed and
matted.
Any embellishments used
on the background of the
page correlate with the
economics of the article
used.
The visual presentation
is neatly done, but there
is no obvious
relationship conveyed
tying the entries in the
scrapbook together.
4
(Exceeds Expectation)
In addition to everything in
three, student consistently
uses common language and
examples to explain
economics terminology to
readers.
In addition to everything in
three, student includes a
formal, correctly formatted
bibliography for the articles
in the scrapbook.
N/A
Resources for Unit
Access to newspaper articles either via internet or actual newspapers.
An actual scrapbook or construction paper in which one can make a scrapbook.
Note cards for journaling (either bought or made).
Pen and paper.
A creative mind and a positive attitude.
*This unit was created by Mark DeCourcy and Sherilyn Narker. Additional content contributed by Cathy Barco, Angela Copa, and
Brian Rubin. Additional input provided by Dr. Bill Cranshaw, Chris Cannon, Marlo Mong, Sarah Brown, and the Social Studies
Advisory Council. It was updated 7/11/08.

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