Texas Administrative Code › Title 19 - EDUCATION › Part 2 - TEXAS EDUCATION AGENCY › Chapter 113 - TEXAS ESSENTIAL KNOWLEDGE AND SKILLS FOR SOCIAL STUDIES › Subchapter C - HIGH SCHOOL › Section 113.76 - Personal Financial Literacy and Economics (One-Half Credit)

Current through Reg. 49, No. 28; July 12, 2024
(a) Implementation. The provisions of this
				  section shall be implemented by school districts beginning with the 2022-2023
				  school year.
(b) General
				  requirements. This course is recommended for students in Grades 11 and 12.
				  Students shall be awarded one-half credit for successful completion of this
				  course. Students may not be awarded credit for both this course and the
				  personal financial literacy course adopted under this subchapter.
(c) Introduction.
(1) The Personal Financial Literacy and
				  Economics Course emphasizes the economic way of thinking, which serves as a
				  framework for the personal financial decision-making opportunities introduced
				  in the course. Students will demonstrate the ability to anticipate and address
				  financial challenges as these challenges occur over their lifetime. In
				  addition, students are introduced to common economic and personal financial
				  planning terms and concepts. As a result of learning objective concepts and
				  integrating subjective information, students gain the ability to lead
				  productive and financially self-sufficient lives.
(2) Personal Financial Literacy and Economics
				  builds on and extends the economic content and concepts studied in
				  Kindergarten-Grade 12 social studies in Texas. The course provides a foundation
				  in both microeconomics and macroeconomics. Students will survey the impact of
				  demand, supply, various industry structures, and government policies on the
				  market for goods, services, and wages for workers. Macroeconomic study involves
				  economic systems with an emphasis on free enterprise market systems, goals of
				  full employment, price stability, and growth while examining problems such as
				  unemployment and inflation and the policies enacted to address them. The course
				  also builds on and extends the personal finance content and concepts studied in
				  Kindergarten-Grade 8 in mathematics in Texas. It is an integrative course that
				  applies the same economic way of thinking developed to making choices about how
				  to allocate scarce resources in an economy to how to make them at the personal
				  level. The course requires that students demonstrate critical thinking by
				  exploring how to invest in themselves with education and skill development,
				  earn income, and budget for spending, saving, investing, and protecting.
				  Students will examine their individual responsibility for managing their
				  personal finances and understand the impact on standard of living and long-term
				  financial well-being. Further, students will connect how their financial
				  decision making impacts the greater economy.
(3) This course was created in response to
				  Texas Education Code (TEC), §28.025(b-22), satisfies the high school
				  requirement, and meets the two-thirds of instructional time in personal
				  financial literacy and one-third of instructional time in economics. In
				  addition, the course addresses new financial challenges of modern
				  economy.
(4) State and federal laws
				  mandate a variety of celebrations and observances, including Celebrate Freedom
				  Week.
(A) Each social studies class shall
				  include, during Celebrate Freedom Week as provided under TEC, §
												29.907, or
				  during another full school week as determined by the board of trustees of a
				  school district, appropriate instruction concerning the intent, meaning, and
				  importance of the Declaration of Independence and the U.S. Constitution,
				  including the Bill of Rights, in their historical contexts. The study of the
				  Declaration of Independence must include the study of the relationship of the
				  ideas expressed in that document to subsequent American history, including the
				  relationship of its ideas to the rich diversity of our people as a nation of
				  immigrants, the American Revolution, the formulation of the U.S. Constitution,
				  and the abolitionist movement, which led to the Emancipation Proclamation and
				  the women's suffrage movement.
(B)
				  Each school district shall require that, during Celebrate Freedom Week or other
				  week of instruction prescribed under subparagraph (A) of this paragraph,
				  students in Grades 3-12 study and recite the following text: "We hold these
				  Truths to be self-evident, that all Men are created equal, that they are
				  endowed by their Creator with certain unalienable Rights, that among these are
				  Life, Liberty and the Pursuit of Happiness--That to secure these Rights,
				  Governments are instituted among Men, deriving their just Powers from the
				  Consent of the Governed."
(5) Students identify and discuss how the
				  actions of U.S. citizens and the local, state, and federal governments have
				  either met or failed to meet the ideals espoused in the founding
				  documents.
(6) Students understand
				  that a constitutional republic is a representative form of government whose
				  representatives derive their authority from the consent of the governed, serve
				  for an established tenure, and are sworn to uphold the constitution.
(7) Statements that contain the word
				  "including" reference content that must be mastered, while those containing the
				  phrase "such as" are intended as possible illustrative examples.