Theme- Costs

Go here for a more detailed outline of the standards used for this theme.

The economic theme of COSTS stresses the importance of critical thinking skills, contextual learning, leadership development and global awareness. The ability to analyze the costs and benefits of a given situation, and strategize effectively with different social and cultural contexts in mind, is crucial to decision-making processes in business, the community and our personal lives. For example, financial literacy, business development and international trade all depend vitally on calculating and managing costs. Thus, in order for students to make smart decisions and realize their true leadership potential, they must secure an understanding of what is at stake in the choices that they make. Hence, the reason for the declaration: “There Ain’t No Such Thing As A Free Lunch” (KEP #2), since each and every choice entails some cost, sacrifice or trade-off (KEP #7). Otherwise, it would not really be a choice at all!

Infusionomics – Skills for the 21st Century Marketplace™:

7.  Critical Thinking

a.  Reason Effectively

b.  Use Systems Thinking

c.  Make Judgments and Decisions

d.  Solve Problems

8. Contextual Learning

a.  Adaptability

b.  Flexibility

c.  Global Awareness

9. Leadership Development

10. Global Awareness

11. (Optional Higher Level) Financial Management

12. (Optional Higher Level) Operations

Partnership for 21st Century Skills™ Framework – Student Outcomes

Core Subjects and 21st Century Themes

  • Global Awareness
  • Learning and Innovation Skills
    • Creativity and Innovation (See also: RESOURCES, 14.)
    • Critical Thinking and Problem Solving
      • Reasoning Effectively
      • Use Systems Thinking (See also: INCENTIVES)
      • Make Judgments and Decisions
      • Solve Problems
  • Life and Career Skills
    • Flexibility and Adaptability
  • NCSEE Standards (National Content Standards for Entrepreneurship Education™)

    • I – Financial Management – Understands the financial concepts and tools used in making business decisions
    • M – Operations Management – Understands the processes and systems implemented to facilitate daily business operations