U-46 Economics
In School District U-46, (Elgin, IL) Economics is a required course for seniors. The curriculum is divided into 4 units: I. Basic concepts, II. Microeconomics, III. Macroeconomics, and IV. Personal Finance. The main concepts in the first 3 of these divisions are listed below. Personal Finance resources are here.
I. BASIC CONCEPTS
1. How does the available amount of resources influence the choices people must make?
2. Responses to the problem of allocation.
4. Marginal cost and marginal benefit
5. Every choice has a cost. NSTAAFL.
6. Available resources affect production.
7. Basic economic questions are answered differently by different societies.
10. What are the factors of production?
11. - 12. Micro- and Macro- economics
13. Economic systems: traditional, market, command and mixed.
14. The importance of incentives in decision making (Dan Pink)
II. MICRO-ECONOMICS
17. The relationship of supply and demand
18. What are the advantages and disadvantages of the different business organizations
19. How do changes in supply and demand effect price and outcome?
20. What is the role of competition in market structures?
21. What is perfect competition? Oligopoly? Monopoly? What is supply and demand equilibrium?
22. Compare/contrast market structures
23. Explain the cause and effect of supply and demand on markets. Create a supply and demand graph.
24. Compare/contrast, explain sole proprietorship, partnership and corporations