Title: Unit 4: Role of Government Curriculum Alignment (Teacher Only)
Course: Indiana Economics Sample Syllabus > Section: Unit 4: Role of Government

Role of Government

E.4.1 Explain how market failures may result in the underproduction of public goods and explain the role of government in addressing those failures.

E.4.2 Explain how markets underproduce public goods, and explain why the government has an interest in producing these public goods. (E)

E.4.3 Describe how the government taxes negative externalities (spillovers) and subsidizes positive externalities to resolve the inefficiencies they cause.

E.4.4 Describe the major revenue and expenditure categories in state and federal budgets and their respective proportions, and the challenges of achieving a balanced budget. (E)

E.4.5 Determine whether different types of taxes (e.g., income tax, sales tax, and Federal Income Contributions Act [FICA] tax including Social Security and Medicare) are progressive, proportional, or regressive. (E)

E.4.6 Define budget debt and budget deficit and distinguish between the two. Explain the effects of both on the economy. (E)