Summary: In this economics lesson, students will revise a federal budget to understand its contents. Students will play the roles of Economic Advisors to the President of the United States. In that role, students will distinguish between discretionary and non-discretionary spending, identify major sources of revenues, and debate budget priorities. Then as individuals, pairs, and in groups, students will use a National Budget Simulator (2017) to construct their budget recommendations for the President of the United States. As an extension activities, have students research the most recent year’s budget for comparison and discussion.
Overarching Questions:
- CIVICS: How well does the government balance individual rights and the common good, including the need to maintain order, safety and a healthy environment, during this time period?
- CIVICS: Have individuals and groups influenced public policy during this time period? If so, how and what has been the impact?
- ECONOMICS: What is the proper role of government in the economy? (Especially with regard to economic crises, national defense/security, health and safety of the people, and economic development and practices.)
NJ Student Learning Standards for Social Studies:
- 6.1.12.EconNE.14.a: Use economic indicators to evaluate the effectiveness of state and national fiscal (i.e., government spending and taxation) and monetary (i.e., interest rates) policies.
- 6.1.12.HistoryCC.16.a: Assess from various perspectives the effectiveness with which the United States government addresses economic issues that affect individuals, business, and/or other countries.
- 6.1.12.EconET.14.b: Analyze economic trends, income distribution, labor participation (i.e., employment, the composition of the workforce), and government and consumer debt and their impact on society.
Link to Lesson: EconEdLink - National Budget Simulation