TOPICS

• Principles of Economics and Economic Systems
• Demand
• Supply
• Price System

FOCUS QUESTIONS

• Why is scarcity and choices basic to economics?
• What are the assumptions that guide economic analysis ?
• How does the buyer and seller communicate with each other?

CONTENT OBJECTIVES

INITIAL UNDERSTANDING The student will . . .

• identify the key economic truism.
• show an understanding of economic goals in society
• demonstrate ability to graph and create circular flow charts

DEVELOPING AN INTERPRETATION The student will . . .

• Analyze the components of Supply and Demand
• Explain the nonprice determinants of supply and demand
• Test value of pricing and nonpricing of goods and services.

MAKING CONNECTIONS The student will . . .

• prioritize the economic goals in society
• analyze the effects of government pricing v. private market
• compare and contrast the various economic systems.

TAKING A CRITICAL STANCE The student will . . .

• evaluate the strengths and weakness of the economic systems in the world
• compose their own supply and demand graphs which indicate market surpluses and shortages along with price floors and price ceilings.

SKILLS

READING COMPREHENSION

Reading comprehension is addressed in this unit through the attention paid to the Content Knowledge Objectives. These objectives are in the Reading Comprehension categories of Initial Understanding, Developing an Interpretation, Making Connections and Taking a Critical Stance. Note the thinking skill verb in each objective that directs how content information is to be processed.

WRITING Students will . . .

• use the writing process to plan, draft and revise expository writing.
• learn to interview entrepreneurs and create an expository piece that highlights their achievements.

RESEARCH SKILLS

The students will familiarize themselves with various economic sites that they will begin to use in the economics class...

STUDY SKILLS AND WORK HABITS Students will . . .

• learn and price the skill of graphing in the class. They will learn also to survey and skim a chapter before they read it for understanding.
• complete homework assignments from the textbook in their own words and in complete sentences.
• learn to view substantial economic writings

ORAL PRESENTATION Students will . . . .

• prepare an oral presentation on their researched entrepreneur.
• debate an economic issue that they have learned in the unit.
• present current events based on the topics covered in the unit.

GRAPHING

Students will graph and analyze the graphs they have created for supply and demand, change of supply and demand, market surplus, market shortage, price ceiling and price floor.

TOPICS

• Organization of Business
• Competition and the Role of Government
• Labor
• Government
  • Budget Management
  • Appropriations

FOCUS QUESTIONS

• What are the advantages and disadvantages of each type of business organization?
• How can we apply marginal analysis in economic decision making?
• How do the divergent interests of labor and management impact the American economy?
• How can we reconcile the use of budgetary management to organize economic activity and also manipulate economic performance ?

CONTENT OBJECTIVES

INITIAL UNDERSTANDING The student will . . .

• recognize how businesses are organized and combined in a free enterprise
• identify influences which determine wages and other forms of compensation
• differentiate between federal, state, and local revenue systems
• recognize the correlation between taxation and the federal budget

DEVELOPING AN INTERPRETATION The student will . . .

• classify the various principles of taxation
• review the historical role of government in the economy
• illustrate an understanding of the federal debt and its impact on the economy

MAKING CONNECTIONS The student will . . .

• explain the market structure of perfect competition
• compare and contrast perfect competition with monopolistic competition, oligopoly, and monopoly

TAKING A CRITICAL STANCE The student will . . .

• evaluate and hypothesize concerning the role and influence of labor unions in the past, present, and future
• judge contemporary tax reforms in terms of their positive or negative impact upon the economy

SKILLS

READING COMPREHENSION

Reading comprehension is addressed in this unit through the attention paid to the Content Knowledge Objectives. These objectives are in the Reading Comprehension categories of Initial Understanding, Developing an Interpretation, Making Connections and Taking a Critical Stance. Note the thinking skill verb in each objective that directs how content information is to be processed.

WRITING

Students will use graphic organizers to study two sides of the National Health Care debate and then defend their position through persuasive writing.

RESEARCH SKILLS The students will . . .

• research and write a research paper on a topic (e.g., “Should the Federal Reserve aim at a zero inflation policy?”
• use technology as authentic tools for this research. The students wil contact professionals in the area of monetary policy.

STUDY SKILLS AND WORK HABITS

Students will access internet sites that provide graphic representation of macroeconomic data and interpret that data. Students will access websites such as the Economic Statistics Briefing Room. At those sites, students will examine and interpret graphs dealing with inflation (CPI - Consumer Price Index) and unemployment (Unemployment Rate).

ORAL PRESENTATION

Students will present a two-minute oral presentation on a topic of their choice relating to macroeconomic performance (e.g., Federal Funds Rate chosen by the FOMC).

TOPICS

• Money and Banking
• The Federal Reserve System
• Monetary Policy
• Financial Investments, Markets and Equities

FOCUS QUESTIONS

• What are the functions of money and the banking system in our economy?
• Explain the organization and role of the Federal Reserve System and other financial institutions and markets
• How can we assess the investment risks and possible returns inherent to different types of financial assets including, but not limited to: stocks, bonds, mutual funds, CD’s, IRA’s, 401K’s, money markets, savings accounts
• Why is it important to evaluate the impact of savings, borrowing, and using credit in the American economy?
• How can we reconcile the macroeconomic roles of the Federal Reserve System and the fiscal policy responsibilities of the federal government in guiding the US economy?

CONTENT OBJECTIVES

INITIAL UNDERSTANDING The student will . . .

• identify and describe the functions of money and why it can be viewed as a tool for decision making
• define the different types of money in the United States
• identify and describe the advantages and disadvantages of the gold standard.

DEVELOPING AN INTERPRETATION The student will . . .

• examine and draw conclusionsin explaining the forces leading to the deregulation of financial institutions in the 1980’s and relate the history of the savings and loan crisis.
• analyze how the money supply influences the economy.

MAKING CONNECTIONS The student will . . .

• document the effect of Depression Era bank failures on the creation of the Federal Deposit Insurance Corporation.
• compare and contrast the manner in which monetary policy may be used to expand and contract the economy of the US.

TAKING A CRITICAL STANCE The student will . . .

• gauge the success of monetary policy versus fiscal policy in guiding the American economy.
• evaluate the various steps taken to protect the American banking system.

SKILLS

READING COMPREHENSION

Reading comprehension is addressed in this unit through the attention paid to the Content Knowledge Objectives. These objectives are in the Reading Comprehension categories of Initial Understanding, Developing an Interpretation, Making Connections and Taking a Critical Stance. Note the thinking skill verb in each objective that directs how content information is to be processed.

WRITING

Students will write a list of arguments for and against a national banking system. Students in favor will research the ideas of Alexander Hamilton and students opposed will research the ideas of Thomas Jefferson. Students will then apply the arguments to the national agenda today in the form of a debate.

RESEARCH SKILLS

The studensts will research and write a research paper on the topic: “How much should the average American know about financial investments?” The students will use technology as an authentic tool for this research. The students will utilize previous resources and also contact professionals in the area of financial investment.

STUDY SKILLS AND WORK HABITS

Students will access Internet sites that provide graphic representation of macroeconomic data and interpret that data. Students will access websites such as the Economic Statistics Briefing Room. At those sites, students will examine and interpret graphs dealing with inflation (CPI) and unemployment (Unemployment Rate).

ORAL PRESENTATION

Students will present a two-minute oral report on a topic of their choice relating to the workings of the Federal Open Market Committee. One suggestion might be to evaluate the actions of the FOMC in the eyes of experts in the field. Who agrees with the Fed? Who disagrees? The students should be able to explain why the experts are divided on the actions of the FOMC.

MATH PROBLEM-SOLVING

Students will solve investment related problems by using the performance of the Dow Jones Average to assess the performance of the stock market for the current year and hypothesize what the rate of return might be for the future. The students could contact stockbrokers and use the Internet for research into what an acceptable rate of return would be. They could then be asked to write a report or make an oral presentation to class on their findings.

GRAPHING

Students will collect data and create a graph that displays the latest figures for the Federal Funds rate and other key interest rates like a 30 year bond or 6 month Certificates of Deposit. The students will then compare their graph to GDP figures for previous years and hypothesize why the interest rates correlate or do not correlate to economic performance.

TOPICS

• Gross Domestic Product
• Population and Economic Growth
• Business Cycles
• Achieving Economic Stability

FOCUS QUESTIONS

• What are the economic components of national income-accounting that measure economic growth?
• Why are economic indexes important in the evaluation of the economic conditions?
• What are the different economic cycles and their effects on society?
• What are the different economic theories that can address the economic issues?

CONTENT OBJECTIVES

INITIAL UNDERSTANDING The student will . . .

• explain the economic conditions which can face the USA.
• identify through graphs and indexes the economic conditions.
• list the components of GDP in the income and expenditure approach.

DEVELOPING AN INTERPRETATION The student will . . .

• examine the causes and solutions of the economic conditions
• contrast the various economic theorists and their approach to the economy

MAKING CONNECTIONS The student will . . .

• explain how the elements of the economy interact with each other.
• evaluate the economic and political philosophies of economic stability.

TAKING A CRITICAL STANCE The student will . . .

• judge the present economic theories followed in today’s economic conditions
• predict how the economic conditions today will affect the national and global economic balance.

SKILLS

READING COMPREHENSION

Reading comprehension is addressed in this unit through the attention paid to the Content Knowledge Objectives. These objectives are in the Reading Comprehension categories of Initial Understanding, Developing an Interpretation, Making Connections and Taking a Critical Stance. Note the thinking skill verb in each objective that directs how content information is to be processed.

WRITING Students will . . .

• use graphic organizers to study two sides of an issue and then defend their position through persuasive writing.
• learn to base their writing on the economic data provided through graphs and charts

RESEARCH SKILLS

Students will learn to use government and financial websites to develop an understanding of present and past economic conditions. They will learn to read the economic indicators and prioritize their importance.

STUDY SKILLS AND WORK HABITS

Students will continue to learn how to use their textbook and financial data for their evaluation and understanding of the economics of this unit. They will take notes and compare data presented in their text to present day data.

ORAL PRESENTATION

Students will create news channel such as MSNBC or CNN to report the economic news that is related daily to the American public.

GRAPHING

Students will continue to learn to graph the economic data and understand where the potential of the economy is and where it needs to be.

TOPICS

• International Trade
• Trade Organizations
• Comparative Economic Systems
• Developing Nations
• International Currency

FOCUS QUESTIONS

• What is the correlations between international trade and economic interdependence?
• How does foreign exchange reflect the economies of the world?
• How does comparative advantage create gains from trade?

CONTENT OBJECTIVES

INITIAL UNDERSTANDING The student will . . .

• explain why nations choose to specialize in the production of certain goods and services
• define the various non trading relationships
• identify the reasons why people trade and their benefits

DEVELOPING AN INTERPRETATION The student will . . .

• examine the importance of conserving nonrenewable resources.
• analyze the choices our market economy will have to make to cope with the future.

MAKING CONNECTIONS The student will . . .

• document, using both primary and secondary sources the history of free-trade movement
• compare and contrast the positive and negative effects of a floating dollar

TAKING A CRITICAL STANCE The student will . . .

• evaluate the importance that free trade has on the world economy and resources
• define how free trade can continue with the unsettling international conflicts.

SKILLS

READING COMPREHENSION

Reading comprehension is addressed in this unit through the attention paid to the Content Knowledge Objectives. These objectives are in the Reading Comprehension categories of Initial Understanding, Developing an Interpretation, Making Connections and Taking a Critical Stance. Note the thinking skill verb in each objective that directs how content information is to be processed.

WRITING

Students will learn to read and evaluate the political connects between international trade and the political arena. They will be able to write their own opinions and substantial their position.

RESEARCH SKILLS

Students will research various countries and understand their products, government, and currency, and evaluate their economic condition within their borders and the effects they have on their neighbors and trading partners.

STUDY SKILLS AND WORK HABITS

Students will continue to use their textbooks to read, skim and understand the basic knowledge needed to further their study in international trade..

ORAL PRESENTATION

Students, with the use of notecards, will be able to debate the various international issues.

GRAPHING

Students will continue to learn to read graphs (Bar and line) to understand trade and its various components. They will understand how a graph is presented when there is a deficit in trade and when there is a surplus in trade.