Economic Literacy
Reading Unit 10 – Common Core Science
Introduction
Reading about economics requires understanding specialized vocabulary, data representations, and argument structures. This unit develops skills for analyzing economic texts from news articles to policy reports.
Text Types
• News Articles
• Policy Reports
• Infographics
Skills
Data Interpretation
Argument Analysis
Vocabulary in Context
Strategies
Skimming
Scanning
Critical Reading
1. Reading Economic Texts
Text Structure
Lead Paragraph
Often contains the main economic claim or latest data
Body Sections
Provide supporting evidence, expert quotes, historical context
Conclusion
Future projections or policy recommendations
Common Features
Look for:
- Headings and subheadings
- Data visualizations (charts/graphs)
- Key terms in bold/italics
- Source citations
Question types:
- Main idea questions
- Data interpretation
- Vocabulary in context
- Author’s purpose
2. Reading Economic Data
“Data never speak for themselves. They always speak through interpreters.”
Sample Infographic
Data Questions
Based on the chart:
- Which year had highest growth?
- Calculate total growth 2020-2022
- Why might 2021 be exceptional?
3. Economic Vocabulary
Key Terms
Inflation: Rising prices across an economy
Recession: 2+ quarters of negative GDP growth
Monetary Policy: Central bank actions (interest rates)
Fiscal Policy: Government taxing/spending
Context Clues Strategies:
- Definition within sentence
- Examples provided
- Contrast clues (“unlike…”)
Practice Exercise
“The trade deficit widened to $89 billion as imports surged while exports stagnated.”
What does trade deficit mean?
4. Critical Reading Strategies
Identifying Bias
Signs of bias:
- Emotional language (“disastrous policy”)
- Selective data presentation
- Uncited claims
- Overgeneralizations
Compare these headlines:
1. “Fed rate hike crushes middle class”
2. “Fed raises rates 0.5% to curb inflation”
Source Evaluation
CRAAP Test:
- Currency: Is it up-to-date?
- Relevance: Appropriate detail?
- Authority: Who wrote it?
- Accuracy: Evidence-supported?
- Purpose: Inform or persuade?
