Economics

Course Description

Economics provides a study of the overall economy including both macroeconomics and microeconomics. Students will focus on topics such as money and banking, competition, supply and demand, factors of production, and consumer rights and responsibilities. At the honors level students will read supplementary materials and analyze, synthesize, and evaluate new information as they develop critical thinking skills.

Economics

Course Syllabus

Introduction

Welcome to College Prep Economics! During this course the major themes of world’s various economic systems will be presented and we will examine the inter-working of the different components which drive them. Students will research topics and articulate ideas through written work, class discussions, projects, and presentations.

Required Text

New District-wide Cell Phone Policy

Cellphone, Earbuds, and Electronic Devices Usage:

During Class:
- All cellphones, earbuds, and other personal electronic devices must be out of sight and on silent during class time.
- Acceptable places to store your devices include your backpack, pocket, or purse.
- Devices cannot be on your desk or in your lap.
Permitted Usage Times:
- Before School: Students are allowed to use their devices before the official start of the school day.
- After School: Device usage is permitted after the conclusion of the school day.
- Lunch: Students are welcome to use their cellphones and other electronic devices during lunchtime.
- In the Hallway: Feel free to use your devices while transitioning between classes in the hallway.

Objectives

1. The students will identify major concepts in Economics.

2. The students will analyze complex economic situations.

3. The students will synthesize pertinent facts from important economic events.

4. The students will evaluate actions of various economic systems and how they are related.

5. The students will understand the complex relationships between different economic systems.

Course Requirements

Attendance Policy:

More than three (3) unexcused absences in a semester course will result in denial of credit.

Classroom Policies and Expectations:

1. Students are expected to be “on time”. This means that students are to be in their seats when the bell rings and ready to work.

2. Unless specifically allowed by me, cell phone use is strictly forbidden during classroom time.

3. Students are expected to obey all school rules as listed in the student handbook.

4. All students are required to bring books, notebooks, and a pen or pencil to class each day. This is to be considered as part of the student’s daily grade.

5. Student will be expected to listen, take notes, and participate in classroom lessons. Failure to do so will be reflected in quiz and test scores.

6. All assigned work must be completed by the beginning of the next class period. Homework will be checked daily at the beginning of class. Late work will not be accepted unless the student was absent. Only completed work will receive credit.

7. Class time given to students to work on assignments is for that purpose only! Failure to use class time properly will be reflected in daily grades.

8. All students will have five class days to make up work or tests missed during an excused absence. Zeroes will be given for work that is not made up.

9. Students are expected to maintain a proper learning environment and a clean classroom. (This includes wearing your ID.)

GRADING POLICY

A = 90 TO 100

B = 80 TO 89

C = 70 TO 79

D = 60 TO 69

F = 59 and below

Daily Grades & Quiz Grades = consists of Homework, class assignments, and having class materials ready each day for class, quizzes on material covered by daily work, homework, and notes. All classes 40% of grade.

Major Grades = consists of tests and/or major projects. The materials will come from daily work and quizzes and class other class work. All classes 60% of grade. Tests will tentatively be on Fridays.

Tentative Projects

Third Quarter –Video Project: Rags to Riches research project on entrepreneurs who rose from humble beginnings to have a major influence on the American economic system.

Fourth Quarter – Portfolio Project: Influence of Advertising Techniques on the Modern Consumer.

Tentative Outline of the Course:

Unit One – Fundamental Economic Concepts

(week 1) Chapter One: What is Economics?

Scarcity
Concepts in Economics
Economic Choices and Decision Making – Review
Chapter One Test – Chapter Two Preview

(week 2) Chapter Two: Economic Systems and Decision Making

Economic Systems
Economic Performance
Capitalism and Economic Freedom – Review
Chapter Two Test – Chapter Three Preview

(week 3) Chapter Three: Business Organizations

Forms of Business Organizations
Business Growth and Expansion
Other Organizations – Riview
Chapter Three Test – Chapter Four Preview

Unit Two – Microeconomics

(week 4) Chapter Four: Demand

What is Demand?
Factors Affecting Demand
Elasticity of Demand – Review
Chapter Four Test – Preview Chapter Five

(week 5) Chapter Five: Supply

What is Supply?
The Theory of Production
Cost, Revenue, and Profit – Review
Chapter Five Test – Chapter Six Preview

(week 6) Chapter Six: Prices and Decision Making

Prices as Signals
The Price System at Work
Social Goals versus Market Efficiency – Review
Chapter Six Test – Chapter Seven Preview

(week 7) Chapter Seven: Market Structures

Competition and Market Structures
Market Failures
The Role of Government – Review
Chapter Seven Test – Chapter Eight Preview

Unit Three – Macroeconomics: Institutions

(week 8) Chapter Eight: Employment, Labor, and Wages

The Labor Movement
Resolving Union and Management Differences
Labor and Wages
Employment Trends and Issues – Review
Chapter Eight Test – Chapter Nine Preview

(week 9) Chapter Nine: Sources of Government Revenue

The Economics of Taxation
The Federal Tax System
State and Local Tax Systems
Current Tax Issues– Review
Chapter Nine Test – Chapter Ten Preview

(week 10) Chapter Ten: Government Spending

The Economics of Government Spending
Federal Government Expenditures
State and Local Government Expenditures
Deficits, Surpluses and the National Debt – Review
Chapter Ten Test – Chapter Eleven Preview

(week 11) Chapter Eleven: Money and Banking

The Evolution of Money
Early Banking and Monetary Systems
The Development of Modern Banking – Review
Chapter Eleven Test – Chapter Thirteen Preview

Unit Four – Macroeconomics: Policies

(week 12) Chapter Thirteen: Economic Performance

Measuring the Nation’s Output
GDP and Changes in the Price Level
GDP and Population
Economic Growth – Review
Chapter Thirteen Test and Chapter Fourteen Preview

(week 13) Chapter Fourteen: Economic Instability

Business Cycles and Fluctuations
Unemployment and Inflation
Poverty and the Distribution of Income – Review
Chapter Fourteen Test and Chapter Fifteen Preview

(week 14) Chapter Fifteen: The Fed and Monetary Policy

The Federal Reserve System
Monetary Policy
Monetary Policy, Banking, and the Economy – Review
Chapter Fifteen Test and Chapter Sixteen Review

(week 15) Chapter Sixteen: Achieving Economic Stability

The Cost of Economic Stability
Macroeconomic Equilibrium
Stabilization Policies
Economics and Politics – Review
Chapter Sixteen Test and Chapter Seventeen Preview

Unit Five – International and Global Economics

(week 16) Chapter Seventeen: International Trade

Absolute and Comparative Advantage
Barriers to International Trade
Financing and Trade Deficits – Review
Chapter Seventeen Test and Chapter Eighteen Preview

(week 17) Chapter Eighteen: Comparative Economic Systems

The Spectrum of Economic Systems
The Rise and Fall of Communism
The Transition to Capitalism
The Various Faces of Capitalism – Review
Chapter Eighteen Test – Final Exam Preview

Final Exam (week 18)

Portfolio Project on Advertising Techniques

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