Economics
Instructor: Julius Prince
Course Title: Economics
Email: jprince@greenville.k12.sc.us
Room: 212
Phone: 355-1630 or 355-1655
Need Help: If you need some extra help.
I will be available before school and during 2nd Period for the 1st semester.
1st semester
1st Period Gov't
2nd Period Planning
3rd Period Econ
4th Period Gov't
I will be available before school and during 1st Period for the 2nd semester.
2nd semester
1st Period Planning
2nd Period Econ
3rd Period Gov't
4th Period Gov't
Overview:
The purpose of this course is to enhance the knowledge and understanding each student has about economics in general, but specifically the economy of the United States. This will cover everything from the basics of supply and demand to production possibilities, how companies set prices, and the difference in business ownership and employee mentality.
Objectives:
The objectives of this class are simple. The primary goal is to enable the students to become productive members of society by avoiding the traps of consumer debt and living by financially sound principles. To achieve this, the laws of economics will be meshed with the economy of the United States so the students will see the fallacy of relying on one job to last them a lifetime and the “buy now and pay later” mentality. Students will also be exposed to the fiscal and monetary budgets of the United States, as well as individual budgets of American citizens.
Standards:
Econ-1: The student will demonstrate an understanding of how scarcity and choice impact the economic activity of individuals, families, communities, and nations.
Econ-2: The student will demonstrate an understanding of markets and the role of supply and demand in determining price and resource allocation.
Econ-3: The student will demonstrate an understanding of the sources of income and growth in a free-enterprise economy.
Econ-4: The student will demonstrate an understanding of personal economic decision making to maximize the net benefits of personal income.
Econ-5: The student will demonstrate an understanding of the various economic institutions of a market economy.
Econ-6: The student will demonstrate an understanding of the roles that federal, state, and local governments play in the operation of markets in the United States.
Literacy Skills for the Twenty-first Century:
ECON-1:
Analyze how a scarcity of productive resources affects economic choices.
Explain the opportunity cost involved in the allocation of scarce productive resources.
Examine the relationship of the present to the past and use knowledge of the past to make informed decisions in the present and to extrapolate into the future.
ECON-2:
Examine the costs and the benefits of economic choices made by a particular society and explain how those choices affect overall economic well-being.
Compare the ways that different economic systems answer the fundamental questions of what goods and services should be produced, how they should be produced, and who will consume them.
ECON-3:
Explain how the United States government provides public services, redistributes income, regulates economic activity, and promotes economic growth.
Analyze the role of the government in promoting entrepreneurial activity.
Assess the relative importance of multiple causes on outcomes.
ECON-4:
Explain how political, social, and economic institutions are similar or different across time and/or throughout the world.
Compare the ways that different economic systems answer the fundamental questions of what goods and services should be produced, how they should be produced, and who will consume them.
Explain how an interdependent, specialized, and voluntary worldwide trade network affects a nation’s standard of living and economic growth.
ECON-5:
Explain the use of a budget in making personal economic decisions and planning for the future.
Illustrate the fact that some choices provide greater benefits than others.
Explain how investment in human capital such as health, education, and training leads to economic growth.
Materials:
Textbook: Economics: by Arthur O’Sullivan, Ph.D. and Steven M. Sheffrin, Ph. D. published by Pearson.
Audio-Visuals: selected videos and tapes will be used to supplement the course.
ALL STUDENTS ARE EXPECTED TO HAVE A NOTEBOOK FOR
ECONOMICS ONLY.
Graph paper and rulers are provided for all tests and examinations.
***All students are REQUIRED to have writing utensils every day.***
Class Organization:
A variety of teaching methods will be used to enhance the learning environment of the classroom. This will consist of lecture, class work, group work, a project, class simulation activities, practical application activities, and individual instruction.
Assessment and Grading Policy:
60% Major Grades (Including unit tests, formal papers, projects) approximately 4 to5 per nine weeks
40% Minor Grades (quizzes/classwork)
SC Grading Scale:
A 90-100
B 80-89
C 70-79
D 60-69
F 59 and below
Grades:
All grades will be determined by finding the average of their daily, quiz, project review, test and extra credit grades. PLAGIARIZED WORK RESULTS IN A 0 (ZERO) FOR THE ASSIGNMENT. Be sure to cite sources properly!!!
Course Outline:
Unit 1: Fundamental Economic Concepts 9 days
-Scarcity
-Factors of Production
-Circular Flow Model
-Marginal Costs and Benefits
-Production Possibilities Curve
-Production Possibilities Curve
-Review
-Test
Unit 2: Financial Literacy 11 days
-Planning for College
-Preparing for a Career
-Taxes
-Budgeting
-Banking Basics
-Financial Institutions
-Borrowing
-Credit
-Flex Day
-Review
-Test
Unit 3: Microeconomics 11 days
-Demand
-Supply
-Supply & Demand
-Price Ceilings and Floors
-Pure Competition
-Monopolistic Competition
-Monopolies
-Elasticity and Labor Market
-Review
-Test
Unit 4: Macroeconomics 15 days
-GDP & Business Cycle
-Labor Force & Unemployment
-History of the Federal Reserve
-Monetary Policy
-Inflation
-Globalization
-Review - Half Day
-Review
-Review
-Test
-Review
-Review
-Final Exam
-Exam Makeups
Rules:
1. Do not fool yourself.
2. Do not sleep in class.
3. Do not lie, cheat, plagiarize or steal.
4. Do have thy pencil, book, and notebook EVERYDAY.
5. Do not come to class late.
6. Do sit on the desk
7. Do work hard everyday.
8. Do not put lotion, cologne, or perfume of any kind on in class.
9. Do treat others with respect at all times.
10. Do not wear stocking caps, dew rags, wave caps, or bon
11. Do not speak negatively of others in class.
12. Do not eat in class.
13. Do adhere to the student handbook guidelines.
These are basic rules and are easy to follow. ‘Is’ has one meaning, lying is wrong, and grades are earned by you not given by me. To quote a fellow teacher, "You earn the grades, I just keep score." If you don't like bad grades, do something about it all along the way, not a show of tears at the end.
If in doubt, refer to the 10 Commandments and follow those! The United States is a democratic republic, but this class is a dictatorship run by me. It’s a lot like work, but you gain knowledge for long term wealth, not short term cash.