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Rubric for “Save or Spend?” Mini-Economy Portfolio Assessment Emerging (1-2) Developing (3-4) Proficient (5-6) Advanced (7-8) Hist/SS SOL K.8 Work and income Link between description of work and name of job is not clear. Shows some link between the description of his/her job with the name of that job. Matches the description of his/her job with the name of that job. Clearly matches or explains the description of his/her job with the name of that job. Hist/SS SOLs K.9a, 1.8, 2.10 Scarcity makes us choose Unclear whether the student understands the need to make choices regarding spending and saving. Recognizes that scarcity requires people to make choices about spending and saving. Explains how scarcity requires people to make choices and makes some connection to spending/saving decisions. Effectively shows how scarcity requires people to make choices by explaining spending/saving decisions. Hist/SS SOL 1.9 People save money for future purchases Unclear whether student recognizes that he/she must save money to purchase goods and services in the future. Student shows some recognition that he/she must save money to purchase goods and services in the future. Student clearly recognizes that he/she must save money to purchase goods and services in the future. Student evaluates the trade-off between spending on current wants versus saving for future wants Hist/SS SOL 3.10 All choices have an opportunity cost—what you give up when you make a choice Student inconsistently applies knowledge of opportunity cost to spending and saving decisions. Student is able to accurately apply knowledge of opportunity cost to spending and saving decisions in some cases. Student is able to accurately apply knowledge of opportunity cost to spending and saving decisions in most cases. Student consistently and accurately applies knowledge of opportunity cost to spending and saving decisions. Math SOLs 3.2, 4.5c, 4.5d Keeping math records that can be used to draw conclusions. Student makes more than four errors with addition and subtraction. Connection to conclusions is inconsistent. Student adds and subtracts decimals with three or four errors, and makes some connection to conclusions. Student adds and subtracts decimals with one or two errors, in order to keep records and draw conclusions. Student consistently and accurately adds and subtracts decimals in order to keep records and draw informed conclusions. English SOLs 3.4f, 3.6b, d, e Using economic vocabulary to interpret saving and spending decisions Student use of background knowledge and/or ability to draw conclusions is inconsistent. Student is in some cases able to use prior background knowledge or to draw conclusions based on text. Student uses prior and background knowledge to draw conclusions based on text. Student consistently and accurately uses prior and background knowledge to draw conclusions based on text.

Rubric for “What Do People Want? Mini-Economy Portfolio Assessment And How Can I Help?” Emerging (1-2) Developing (3-4) Proficient (5-6) Advanced (7-8) Hist/SS SOLs K.9a, 1.8 Scarcity makes us make choices about what to consume Student explanation of the connection between scarcity and wants is unclear. Student shows some recognition that people must make choices because they cannot have everything that they want, Student explains that people must make choices because they cannot have everything that they want. Student explains that people must make choices because they cannot have everything that they want, citing examples from their list of wants. Hist/SS SOL 2.10 Scarcity makes us make choices about what to produce Student choices do not clearly demonstrate recognition of the the need to produce useful goods and services. Student chooses goods or services to produce that have some relevance classmates’ wants. Student recognizes the need to choose which goods or services may satisfy classmates’ wants. Student demonstrates thoughtful problem-solving in choosing which goods or services may satisfy classmates’ wants. Hist/SS SOL 3.1h Using a decision-making model to make an informed choice. Student exhibits confusion about the use of the cost-benefit decision-making model. Student uses the cost-benefit decision-making model to make an informed choice about what good or service to produce, but not with total thoroughness. Student effectively uses the cost-benefit decision-making model to make an informed choice about what good or service to produce. Student effectively uses the cost-benefit decision-making model to make an informed choice about what good or service to produce, and correctly uses opportunity cost in the model. English SOL 3.9c, 3.9e Responding to the central problem of economics: addressing scarcity by producing goods and services. Student is inconsistent in application of the writing prompt and decision-making model; topic remains disorganized. Student organizes information with some clarity around a topic using the writing prompt or the decision-making model. Student organizes information around a topic using either the writing prompt or the decision-making model effectively. Student effectively organizes information around a topic using both the writing prompt and the decision-making model.

Rubric for “Why Do Different Countries Mini-Economy Portfolio Assessment Produce Different Things?” Emerging (1-2) Developing (3-4) Proficient (5-6) Advanced (7-8) Hist/SS SOLs K.9b, 2.9, 3.1h Distinguishing between money and barter. It is not clear whether the student knows the difference between the use of money and the use of barter. The student will be able to identify the difference between the use of barter and the use of money, though he/she may not fully realize the importance. The student will clearly distinguish between the use of barter and the use of money. The student will evaluate the use of money instead of barter. Hist/SS SOLs 2.8 Analyzing countries’ use of productive resources (natural, human, and capital) It is not clear that the student understands the distinction between natural, human, and capital resources. The student distinguishes between natural, human, and capital resources with some accuracy. The student accurately distinguishes between natural, human, and capital resources. The student explains the differences between what countries produce by analyzing their use of natural, human, and capital resources. Hist/SS SOLs 3.8, 3.9 Understanding why countries make different goods and services It is not clear that the student understands what goods and services different countries may have produce, or why they produced them. The student demonstrates an understanding of different countries’ economies by describing what goods and services they produced with some accuracy. The student demonstrates an understanding of different countries’ economies by describing what goods and services they produced. The student demonstrates an understanding of different countries’ economies by explaining why they produced different goods and services. English SOL 3.9 Writing in order to clearly evaluate the uses of money and barter. Student does not directly address the main idea of the written paragraph. Student addresses the main idea of a written paragraph, with some disorganization. Student elaborates on the main idea of a written paragraph with good organization. Student uses clear logic and effective organization in order to elaborate on the main idea of a written paragraph.

Rubric for “What Should I Specialize In?” Mini-Economy Portfolio Assessment Emerging (1-2) Developing (3-4) Proficient (5-6) Advanced (7-8) Hist/SS SOL 3.9 People specialize so that they can produce more goods and services. It is unclear whether the student knows what specialization is. Student demonstrates knowledge of the concept of specialization. Student analyzes how specialization is used in his or her business. Student effectively evaluates whether specialization can be used to improve his or her business. Hist/SS SOL K.8 Work and income Link between description of work and name of job is not clear. Shows some link between the description of his/her job with the name of that job. Matches the description of his/her job with the name of that job. Clearly matches or explains the description of his/her job, and justifies why he or she has that particular job. Hist/SS SOLs 1.8, 2.10, 3.10 Scarcity makes us choose, and every choice has an opportunity cost. Unclear whether the student understands the connection between job choices and opportunity cost. Accurately lists an opportunity cost of job decisions, without providing insight into the impact on his or her business. Effectively explains job decisions in terms of opportunity cost, providing some insight into the impact on his or her business. Effectively evaluates job decisions in terms of opportunity cost, with a clear understanding of the impact on his or her business. Hist/SS SOLs 2.8 Analyzing business use of productive resources (natural, human, and capital) It is not clear that the student understands the distinction between natural, human, and capital resources. The student distinguishes between natural, human, and capital resources with some accuracy. The student accurately distinguishes between natural, human, and capital resources with reference to a plausible production plan. The student creates a useful production plan by effectively analyzing the use of natural, human, and capital resources.

Rubric for “Do I Have the Resources Mini-Economy Portfolio Assessment That I Need to Make My Product?” Emerging (1-2) Developing (3-4) Proficient (5-6) Advanced (7-8) Hist/SS SOLs K.9a, 1.8, 2.8 2.10 Scarcity makes us choose how we use productive resources (natural, human, and capital). Unclear whether the student understands the need to make choices regarding the use of resources. Recognizes that scarcity requires people to make choices about using resources. Explains how scarcity requires people to make choices and makes some connection to the uses of productive resources. Effectively shows how scarcity requires people to make choices by evaluating the possible uses of product resources. Hist/SS SOLs 2.8, 3.10 All choices have an opportunity cost—if you use a resource to produce a good or service, you cannot also use it to produce a different good or service. Student inconsistently applies knowledge of opportunity cost to possible uses of productive resources Student is able to accurately apply knowledge of opportunity cost to possible uses of productive resources. Student is able to accurately apply knowledge of opportunity cost to possible uses of productive resources. Student consistently and accurately applies knowledge of opportunity cost to possible uses of productive resources.

Rubric for “How Can We Get Mini-Economy Portfolio Assessment People to Buy Our Product?” Emerging (1-2) Developing (3-4) Proficient (5-6) Advanced (7-8) English SOL 3.6a Identifying author’s purpose. Student does not adequately appeal to features of the text in the analysis. Student provides some analysis of how the advertisement is intended to induce feelings, though the analysis may not be high-quality. Student provides a believable analysis of how the advertisement is intended to induce feelings. Student uses a rich analysis of how the advertisement is intended to induce feelings. English SOL 3.6b Using prior and background knowledge as context for new learning. The student does not effectively use skills, processes, details, or concepts from the original analysis to plan his or her own advertisement. Student uses at least one of the questions used in analysis of the first advertisement to plan his or her own advertisement. Student uses either concepts or details gleaned in analysis of the first advertisement to plan his or her own advertisement. Student effectively uses concepts and details gleaned in analysis of the first advertisement to plan his or her own advertisement. English SOL 3.6c Previewing and using text features. Student’s argument is not clearly linked to features in the text. Student appeals somewhat indirectly to the text to make an argument. Student appeals to the text to make an argument. Student appeals directly and compellingly to the text to make an argument. English SOL 3.6d Asking and answering questions about what is read. Student does not effectively use questions to plan to create advertisements. Student shows some inclination to use analytical questions to create advertisements. Student uses questions about what is read to create advertisements. Student effectively uses questions about what is read to create advertisements. Hist/SS SOL 3.10 All choices have an opportunity cost—what you give up when you make a choice It is unclear whether the student knows how to apply the concept of opportunity cost to a consumption decision. Student shows that he or she knows what opportunity cost is in relation to consuming a given product. Student accurately identifies an opportunity cost of consuming a given product. Student effectively evaluates the implications of consuming a given product in terms of opportunity cost.

Rubric for “What Price Should we Charge?” Mini-Economy Portfolio Assessment Emerging (1-2) Developing (3-4) Proficient (5-6) Advanced (7-8) Math SOL 2.17 Creating a graph based on data Student shows systematic mistakes that severely comprise the usefulness of the graph. Student constructs a graph of price and quantity using survey data, with three or four errors or with some systematic mistake. Student constructs a graph of price and quantity using survey data, with only one or two errors. Student constructs an accurate graph of price and quantity using survey data, including the labeling of axes. Math SOL 3.17a Collecting and organizing data Student shows systematic mistakes that severely comprise the survey data. Student collects and records data on a market price survey with some clarity and minor systematic mistakes. Student accurately collects and records data on a market price survey, with one or two mistakes or with minimum obscurity in recording. Student accurately collects and records data on a market price survey. Math SOL 3.19 Recognizing and interpreting patterns Student is not able to systematically note the relationship between price and quantity. Student demonstrates some notion of the relationship between price and quantity, though with some mistakes. Student is able to identify the relationship between price and quantity, with some regard for the implication for pricing his or her own product. Student interprets the relationship between price and quantity in such a way as to accurately inform product pricing decisions.