The general objective of this course is for students to master fundamental economic concepts, appreciate how the principal concepts of economics relate to each other and understand the structure of economic systems. Students will use economic concepts in a reasoned, careful manner in dealing with personal, community, national and global economic issues. They will use measurement concepts and methods such as tables, charts, graphs, ratios, percentages and index numbers to understand and interpret relevant data. They should learn to make reasoned decisions on economic issues as citizens, workers, consumers, business owners, managers and members of civic groups.
- Students understand common economic terms and concepts and economic reasoning.
- Students analyze the elements of the United States market economy in a global setting.
- Students analyze the influence of the U.S. government on the American economy.
- Students analyze the elements of the United State labor market in a global setting.
- Students analyze the aggregate economic behavior of the U.S. economy.
- Students analyze issues of international trade, and explain how the U.S. economy affects, and is affected by, economic forces beyond its borders.
- Students will demonstrate an understanding of income and spending issues facing individuals and businesses.
- Students will demonstrate an understanding of how banks and other financial institutions operate.
- Students will demonstrate an understanding of effective investment practices.
- Students will analyze the role and importance of credit in personal and business finance.
Attendance and participation: 15%
Assignments and homework: 25%
- Nightly reading will be given as homework.
- Periodic written homework will be given as a review of material covered in class.
- Writing assignments and/or projects will be given quarterly.
Tests and quizzes: 30%
- Quizzes will be given half way through each unit.
- Tests will be given at the end of each unit.
Midterm or final: 30%
Scope and Sequence:
Unit 1: Introduction to Economics
- What is Economics?
- Economic Systems
- American Free Enterprise
Unit 2: Introduction to Microeconomics: How Markets Work
- Demand and Supply
- Market Structures
Unit 3: Business and Labor
- Business Organizations
Unit 4: Money, Banking, and Finance
- Money and Banking
- Financial Markets
Unit 5: Introduction to Macroeconomics: Measuring Economic Performance
- Gross Domestic Product and Growth
- Economic Challenges
Unit 6: Government and the Economy
- Taxes and Government Spending
- Fiscal Policy
- The Federal Reserve and Monetary Policy
Unit 7: The Global Economy
- International Trade
- Economic Development and Transition
Unit 8: Financial Literacy
- Planning and goals
- Career preparation
- Spending and credit
- Consumer protection
- Money management
- Saving and investing
- Risk management