big economic scrapbook project

Big Economics Article 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 these issues and actions. Students will choose a minimum of six

different concepts from the elements in the economics 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. **

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."

Rubric for Performance Task

1 (Below Standard) 2 (Needs Improvement)

3 (Meets Standard) 4 (Exceeds Standard)

Written entries include a summary of the article describing the current economic conditions/issues discussed.

Unable to summarize article’s relationship to current economic state

Correctly summaries only 4 to 5 articles OR does not emphasize the article’s significance in describing the current economic state.

Correctly summarizes at least six articles and shows the article’s significances in describing the current economic conditions in the state and/or nation.

In addition to everything in 3, includes a description of how the article shows predictions or analysis of future economic trends

Written entry includes a description or analysis linking concepts from the macroeconomics standards and elements to the article or to a solution of the problem described in the articles.

Correctly links 3 or fewer economic concepts from the macroeconomics elements to the selected articles OR accurately applies 3 or fewer concepts to the issue or problem described in the article.

Correctly links at least four to five economic concepts from the macroeconomics elements to the selected articles AND accurately applies 4 to 5 concepts to the issue or problem described in the article.

Correctly links at least six economic concepts from the macroeconomics elements to the selected articles AND accurately applies the six concepts to the issue or problem described in the article.

In addition to everything in 3, student makes a logical prediction about how the economic situation discussed may change within the next year.

Articles included are summaries of: -The housing market. - Failing of businesses and banks. -The actions that the Fed has taken. -The rising inflation and unemployment rates. - The action that the government has taken. -People’s reaction as a whole.

The student has 3 or less articles that correctly cover the topics stated in the description of the assignment and the scale criteria.

The student has four to five articles that correctly cover the topics stated in the description of the assignment and the scale criteria.

The student has at least six articles that correctly cover the topics stated in the description of the assignment and the scale criteria.

The student has more than six articles that correctly cover the topics stated in the description of the assignment.

Articles should accurately reflects these economic issues: -Pricing of houses - Spending decisions of households -Inflation - Unemployment - Federal Reserve - Monetary policy (may be implied) -Fiscal policy (may be implied) -Taxing or Government spending with the market

Scrapbook includes 3 or less of the economic topics required.

Student selected articles for the scrapbook accurately link to at least four of the economic topics listed in the criteria section.

Student selected articles for the scrapbook accurately link to six of the economic topics listed in the criteria section.

In addition to everything in 3, student correctly analyzes how consumers, producers, and/or the government responded predictably to price changes. Student also correlates how these sectors of the economy are interdependent.

Clarity of economics terminology in scrapbook entries.

Student makes no attempt to explain economic terms and concepts in a way that the reader will understand.

Student regularly slips into pure economic language at the expense of the reader's understanding of the current trends in the market.

Author acknowledges that most audience members have limited knowledge of economic concepts without talking down to the “readers.”

In addition to everything in 3, author consistently uses common language and examples to explain economics terminology to readers.

Product Rubric

1 (Below Expectation) 2 (Needs Improvement)

3 (Meets Expectation) 4 (Exceeds Expectation)

Writing Style 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.

In addition to everything in three, student consistently uses common language and examples to explain economics terminology to readers.

Organization Title page, table of contents, page number, sources and/or date of publication are missing

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.

In addition to everything in three, student includes a formal, correctly formatted bibliography for the articles in the scrapbook.

Layout 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.

The visual presentation is neatly done, but there is no obvious relationship conveyed tying the entries in the scrapbook together.

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.

N/A

Resources for Performance Task

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.

Big Economics Article 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 these issues and actions. Students will choose a minimum of six

different concepts from the elements in the economics 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. **

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."

Rubric for Performance Task

1 (Below Standard) 2 (Needs Improvement)

3 (Meets Standard) 4 (Exceeds Standard)

Written entries include a summary of the article describing the current economic conditions/issues discussed.

Unable to summarize article’s relationship to current economic state

Correctly summaries only 4 to 5 articles OR does not emphasize the article’s significance in describing the current economic state.

Correctly summarizes at least six articles and shows the article’s significances in describing the current economic conditions in the state and/or nation.

In addition to everything in 3, includes a description of how the article shows predictions or analysis of future economic trends

Written entry includes a description or analysis linking concepts from the macroeconomics standards and elements to the article or to a solution of the problem described in the articles.

Correctly links 3 or fewer economic concepts from the macroeconomics elements to the selected articles OR accurately applies 3 or fewer concepts to the issue or problem described in the article.

Correctly links at least four to five economic concepts from the macroeconomics elements to the selected articles AND accurately applies 4 to 5 concepts to the issue or problem described in the article.

Correctly links at least six economic concepts from the macroeconomics elements to the selected articles AND accurately applies the six concepts to the issue or problem described in the article.

In addition to everything in 3, student makes a logical prediction about how the economic situation discussed may change within the next year.

Articles included are summaries of: -The housing market. - Failing of businesses and banks. -The actions that the Fed has taken. -The rising inflation and unemployment rates. - The action that the government has taken. -People’s reaction as a whole.

The student has 3 or less articles that correctly cover the topics stated in the description of the assignment and the scale criteria.

The student has four to five articles that correctly cover the topics stated in the description of the assignment and the scale criteria.

The student has at least six articles that correctly cover the topics stated in the description of the assignment and the scale criteria.

The student has more than six articles that correctly cover the topics stated in the description of the assignment.

Articles should accurately reflects these economic issues: -Pricing of houses - Spending decisions of households -Inflation - Unemployment - Federal Reserve - Monetary policy (may be implied) -Fiscal policy (may be implied) -Taxing or Government spending with the market

Scrapbook includes 3 or less of the economic topics required.

Student selected articles for the scrapbook accurately link to at least four of the economic topics listed in the criteria section.

Student selected articles for the scrapbook accurately link to six of the economic topics listed in the criteria section.

In addition to everything in 3, student correctly analyzes how consumers, producers, and/or the government responded predictably to price changes. Student also correlates how these sectors of the economy are interdependent.

Clarity of economics terminology in scrapbook entries.

Student makes no attempt to explain economic terms and concepts in a way that the reader will understand.

Student regularly slips into pure economic language at the expense of the reader's understanding of the current trends in the market.

Author acknowledges that most audience members have limited knowledge of economic concepts without talking down to the “readers.”

In addition to everything in 3, author consistently uses common language and examples to explain economics terminology to readers.

Product Rubric

1 (Below Expectation) 2 (Needs Improvement)

3 (Meets Expectation) 4 (Exceeds Expectation)

Writing Style 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.

In addition to everything in three, student consistently uses common language and examples to explain economics terminology to readers.

Organization Title page, table of contents, page number, sources and/or date of publication are missing

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.

In addition to everything in three, student includes a formal, correctly formatted bibliography for the articles in the scrapbook.

Layout 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.

The visual presentation is neatly done, but there is no obvious relationship conveyed tying the entries in the scrapbook together.

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.

N/A

Resources for Performance Task

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.