ISBE College & Career Readiness
Economics and Financial Literacy
SS.EC.1.6-8.LC. Explain how
economic decisions affect the
well-being of individuals,
businesses and society.
SS.EC.1.6-8.MdC. Explain how
external benefits and costs
influence choices.
SS.EC.1.6-8.MC. Evaluate
alternative approaches or
solutions to current economic
issues in terms of benefits and
costs for different groups and
society as a whole.
SS.EC.1.9-12. Analyze how scarcity and incentives influence
choices to consume or produce for different individuals and
groups.
SS.EC.2.9-12. Use marginal benefits and marginal costs to
propose a solution to a significant issue for an individual or
community.
SS.EC.2.6-8.LC. Analyze the role
of innovation and
entrepreneurship in a market
economy.
SS.EC.2.6-8.MdC. Describe
the roles of institutions, such
as corporations, non-profits,
and labor unions in a market
economy.
SS.EC.2.6-8.MC. Explain how
changes in supply and demand
cause changes in prices and
quantities of goods and services,
labor, credit, and foreign
currencies.
SS.EC.3.9-12. Evaluate how much competition exists within and
among sellers and buyers in specific markets.
SS.EC.4.9-12. Evaluate the effectiveness of government policies
to improve market outcomes, address inequality, or reduce
inefficiencies.
SS.EC.5.9-12. Analyze the ways in which competition and
government regulation influence what is produced and
distributed in a market system.
National and Global Economy
SS.EC.3.6-8.LC. Explain why
standards of living increase as
productivity improves.
SS.EC.3.6-8.MdC. Explain
barriers to trade and how
those barriers influence trade
among nations.
SS.EC.3.6-8.MC. Evaluate
employment, unemployment,
inflation, total production, income
and economic growth data and
how they affect different groups.
SS.EC.6.9-12. Use data and economic indicators to analyze past
and current states of the economy and predict future trends.
SS.EC.7.9-12. Describe how government policies are influenced
by and impact a variety of stakeholders.
SS.EC.8.9-12. Analyze how advances in technology and
investment in capital goods and human capital affect economic
growth and standards of living.
SS.EC.9.9-12. Analyze the role of comparative advantage in local,
national, and global trade of goods and services.
SS.EC.10.9-12. Explain how globalization trends and policies
affect social, political, and economic conditions in different
nations.
SS.EC.FL.1.6-8.LC. Analyze the
relationship between skills,
education, jobs, and income.
SS.EC.FL.1.6-8.MdC. Identify how
people choose to buy goods and
services while still maintaining a
budget based on income, taxes,
savings, and fixed and variable
interest rates.
SS.EC.FL.1.6-8.MC. Describe the
connection between credit, credit
options, and interest and credit
history.
SS.EC.FL.1.9-12. Analyze the costs and benefits of various
strategies to increase income.
SS.EC.FL.2.9-12. Explain how to make informed financial
decisions by collecting information, planning, and budgeting.
SS.EC.FL.3.9-12. Explain how time, interest rates, and inflation
influence saving patterns over a lifetime.
SS.EC.FL.2.6-8.LC. Explain the
roles and relationships between
savers, borrowers, interest, time,
and the purposes for saving.
SS.EC.FL.2.6-8.MdC. Explain the
correlation between investors,
investment options (and
associated risks), and
income/wealth.
SS.EC.FL.2.6-8.MC. Analyze the
relationship between financial
risks and protection, insurance
and costs.
SS.EC.FL.4.9-12. Analyze costs and benefits of different credit
and payment options for goods and services, the role of lenders,
and interest.
SS.EC.FL.5.9-12. Evaluate risks and rates of return of diversified
investments.
SS.EC.FL.6.9-12. Analyze the costs and benefits of insurance,
including the influences of an individual’s characteristics and
behavior.