New Mexico Financial Literacy Standards: Teacher Resources

New Mexico Financial Literacy Standards Alignment

Find out which of our lessons or games reinforce the individual
knowledge statements from the New Mexico Social Studies Standards.

Legend:

Long-Term Game
Comprehensive Chapter
Short Lesson
Interactive Calculator
Includes Automatically-Graded Assessment

Standard	Activity
Economic Decision Making
Apply understanding of economic concepts and systems to analyze decision making and the interactions between consumers, business, government, and societies.	Stock Game – Core Component Lesson – Decoding What Moves The Market Lesson – The Business Cycle Lesson – The Government Impact on the Economy Lesson – Why Do Some Jobs Pay More Than Others? Lesson – Comparative Economic Systems – Capitalism, Socialism, and Communism Lesson – Types of Companies Lesson – Benefits of Competition
Gather and evaluate sources to explain the relationship between economic decisions and environmental consequences.	Lesson – Carrots, Sticks, and Your Wallet – All About Incentives Lesson – How a Business Can Be Socially Responsible Lesson – What Is the Product Life Cycle?
Use cost-benefit analysis and marginal analysis to evaluate an economic issue.	Lesson – What is Economics? Lesson – Marginal Benefit and Cost
Evaluate how economic principles influence choices and can produce varied outcomes for different individuals or groups.	Lesson – What is Economic Growth? Lesson – Major Economic Indicators (GDP, CPI, Jobs) Lesson – Comparative Economic Systems – Capitalism, Socialism, and Communism
Evaluate the market value of income earned through wages and other activities associated with saving and investing.	Stock Game – Core Component Budget Game – Core Component Lesson – The Importance of Interest Rates Lesson – What’s in Your Compensation Package? Lesson – How to Develop an Investing Strategy Activity – Use the Net Worth Calculator
Economic Systems and Models
Analyze the production, distribution, and consumption of goods and services.	Lesson – What is Economics?
Evaluate economic theories for their compatibility with democracy.	Lesson – Comparative Economic Systems – Capitalism, Socialism, and Communism Lesson – Government impact on the economy Lesson – What Does Fiscal Policy Mean? Lesson – What Are Property Rights?
Compare the advantages and disadvantages of major economic systems found around the world.	Lesson – How Global Trade Shapes Our Economy Lesson – What is Specialization? Lesson – Comparative Economic Systems – Capitalism, Socialism, and Communism
Critique inequalities that exist in economic systems.	Lesson – Comparative Inequalities Systems – Capitalism, Socialism, and Communism
Use economic data to evaluate the positive and negative aspects of U.S. capitalism in relationship to other economic systems.	Lesson – Major Economic Indicators (GDP, CPI, Jobs) Lesson – Gross Domestic Product
Critique the impact of globalization on New Mexico and its citizens.	Lesson – International trade Lesson – International trade
Evaluate the impact of environmental externalities in New Mexico’s communities.	Lesson – Externalities
Evaluate opportunities for economic diversification that can significantly impact state and local conditions.	Lesson – What is Diversification & How to Spread Your Risk Lesson – Why Do Some Jobs Pay More Than Others? Lesson – What is Cottage Industry
Money and Markets
Explain how buyers and sellers interact to create markets and market structures.	Stock Game – Core Component Lesson – Supply and Demand Examples in the Stock Market
Evaluate how a variety of factors and conditions in a market determine price and the allocation of scarce goods and resources.	Stock Game – Core Component Lesson – Decoding What Moves The Market Lesson – Why Is There Scarcity?
Evaluate the role played by competition in the market.	Stock Game – Core Component Lesson – Benefits of Competition
Evaluate the role of financial institutions in a market economy.	Lesson – Choosing the Best Banking Option for You Lesson – Finding the Right Brokerage Account
Analyze the role of money in the economy.	Lesson – What is Money? Lesson – What are Price Controls? Lesson – How is Money Created?
Critique specific government policies or regulations initiated to improve market outcomes and the consequences, both intended and unintended experienced by individuals, business, communities, and states.	Lesson – Carrots, Sticks, and Your Wallet – All About Incentives Lesson – The Anatomy of Unemployment Lesson – What Does Fiscal Policy Mean? Lesson – What Is Monetary Policy? Lesson – Government impact on the economy
Generate possible explanations for a government role in markets when market inefficiencies exist.	Lesson – Government impact on the economy
Evaluate the causes and implications of market failures.	Lesson – Could the 1929 Crash Happen Again? Lesson – Knowing Your Risks & Risk Tolerance
Explain how governments establish the rules and institutions in which markets operate at the local, state, tribal, national, and international levels.	Lesson – What Are Property Rights? Lesson – Tax Basics You Need to Know Lesson – Protect Yourself as a Consumer Lesson – Government impact on the economy
Use economic indicators and data to analyze the health of the U.S. economy in relation to other countries.	Lesson – Major Economic Indicators (GDP, CPI, Jobs) Lesson – Gross Domestic Product
Evaluate how fiscal and monetary policy choices have economic consequences for different stakeholders in a variety of economic conditions.	Lesson – What Does Fiscal Policy Mean? Lesson – What Is Monetary Policy?
Evaluate foreign and domestic issues related to U.S. economic growth over time.	Lesson – What is Economic Growth?
Explain the effect of advancements in technology and training on economic growth and standards of living across diverse groups and circumstances.	Lesson – Why Do Some Jobs Pay More Than Others?
Global Economy
Explain how current globalization trends and policies affect economic growth, labor, markets, rights of citizens, the environment, and resource and income distribution in different nations.	Lesson – How Global Trade Shapes Our Economy
Explain how economic conditions and policies in one nation increasingly affect economic conditions and policies in other nations.	Lesson – How Global Trade Shapes Our Economy
Evaluate how geography, demographics, industry structure, and the rules of economic institutions influence a nation’s economic development.	Lesson – What is Economic Growth? Lesson – Comparative Economic Systems – Capitalism, Socialism, and Communism
Analyze why a country might participate in global trade.	Lesson – International trade
Connect how trade agreements between nations have short- and long-term effects.	Lesson – International trade
Construct an argument about how global interdependence impacts individuals, institutions, and societies based on documented evidence.	Lesson – International trade
Personal Financial Literacy
Explain how and why people make choices to improve their economic well-being.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth
Compare the costs and benefits of saving, using credit, and or making certain types of financial investments.	Lesson – How to Develop an Investing Strategy Lesson – What is Diversification & How to Spread Your Risk
Evaluate how and why individuals choose to accept risk, reduce risk, or transfer risk to others.	Lesson – Knowing Your Risks & Risk Tolerance Lesson – Life Insurance: The Ultimate Safety Net
Investigate ways that personal information is fraudulently obtained.	Lesson – How to Avoid Identity Theft, Scams & Fraud
Identify voluntary (e.g., retirement contributions) and involuntary deductions (e.g., payroll taxes) and how they impact net income.	Lesson – Tax Basics You Need to Know Lesson – Income Tax Filing Tips & Tricks Lesson – Tax Credits & Deductions You Need to Know Lesson – Uncovering Hidden Income Taxes You Owe
Prepare a budget or spending plan that depicts varying sources of income, a planned saving strategy, taxes, and other sources of fixed and variable spending.	Budget Game – Core Component Lesson – Break Free From Money Stress with a Budget Lesson – Achieve Financial Goals with a Spending Plan
Evaluate options for payment on credit cards and the consequences of each option.	Budget Game – Core Component Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More
Describe how a credit score impacts the ability to borrow money and at what rate.	Lesson – What Your Credit Report Says About You Lesson – Mortgage Options for First-Time Homebuyers Activity – Find Out Your Monthly Home Budget
Identify various strategies students can use to finance higher education and how to access student aid through completion of the Free Application for Federal Student Aid (FAFSA).	Lesson – Financing Your Education
Calculate the total cost of repaying a loan under various rates of interest and over different time periods.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Demystifying the Impact of Interest Rates
Explain what a mortgage is, why most Americans require one to finance a home, and the challenges of financing mortgages on tribal land.	Lesson – Mortgage Options for First-Time Homebuyers
Explain how investing may build wealth and help meet financial goals (e.g., stocks, bonds, mutual funds, retirement savings options, real estate).	Investing101 Certification Course Lesson – What is Diversification & How to Spread Your Risk Lesson – How to Develop an Investing Strategy
Explain various types of insurance and the purpose of using insurance to protect financial interests	Lesson – Car Insurance: How to Lower Your Rates Lesson – What’s Not Covered in Renter’s Insurance? Lesson – Why Health Insurance is So Expensive