Economics

ECONOMICS COURSE OUTLINE

Course Description:

This course offers an understanding of economic problems and institutions of our nation and the world. In this course, the students will examine their perspective involvement in our economic affairs. By participating in simulations, learning economic terminology, and measurement methods, they will be ready to take an active role in our economy.

Students will learn the role of consumers, producers, and the government in the marketplace. They will understand the limited resources we have and the opportunity cost of our decisions. By examining the circular flow of economic activity, they will see the role that buyers, sellers, and the government play in our economy. They will also learn about alternative economic systems and their impact on our society. In microeconomics, they will study the basic ideas and concepts that deal with supply, demand, and the equilibrium point. In macroeconomics, students will also be able to analyze the current state of our economy and rationalize the decisions made by our government. Students will be able to explain a business cycle and explain fiscal and monetary policies. Students will also see the role the United States of America has in our world as a major power in trade. They will analyze our current economic affairs and anticipate future changes.

Course Content:

The course is divided into six units:

1. Basic Living Skills #1 – the Securities Industry
2. Introduction to Economics
3. Microeconomics
4. Macroeconomics
5. International Trade
6. Basic Living Skills #2 – Personal Finance

Standards addressed:

All standards are addressed in the curriculum. In addition, we cover two additional standards. They are:
12.7 The student will demonstrate an understanding of basic securities investment skills.
12.8 Students demonstrate an understanding of basic personal finance skills.

ESLRs Addressed by Curriculum:

• Critical Thinking
• Technological Literacy
• Post Secondary Preparation
• Civic Responsibility

Textbook:

Wilson and Clark’s Southwestern Economics
International Thomson Publishing
1997

Prerequisites:

Students are required to be a junior or a senior.

Special feature of this course:
1) Stock Simulation: 12 week project in which they buy, sell, chart and analyze their own stock transactions using an internet account. They will also learn to use the internet to download graphs and research materials on securities.
a. Standard addressed: 12.8
2) Students will write a one page editorial regarding anti-trust situation. In the editorial, they must reference a literary source that they have used to assist them in analyzing this particular anti-trust situation.
a. Standards addressed: 12.3
3) Students will create a unique product that they feel the public will want to buy. They will also be asked to make a power point presentation on their product and display a working prototype / sample of their product.
a. Standards addressed: 12.2
4) Students will write a one page editorial on protectionist trade policies in our country. In the editorial, they must reference a literary source that they have used to assist them in analyzing this case.
a. Standard addressed: 12.6
5) Students will be asked to identify the elasticity of their entrepreneur project and an investment in their stock simulation.
a. Standards Addressed: 12.1 and 12.2
6) Students will be asked to identify the state of the economy and recommend fiscal policy in order to stabilize the economy.
a. Standards addressed: 12.5