Download Economics: Unit 1 (Fundamental Economic

Economics: Unit 1 (Fundamental Economic Concepts) Hodges
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Pacing
Standards
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Essential Questions
1. What is Economics?
2. How does scarcity
affect economics?
3. What kind of
tradeoffs do we make
in our daily lives?
4. Why does every
decision we make have
an opportunity cost?
5. How do we allocate
goods in this country?
Activities
1. Students will select what
type of prom they want to
have, but each decision
that they make has an
opportunity cost.
2. Students will use the
Cornell Note taking
System to cover material
3. Draw the circular flow
Assessment
1. Explain the
cost of the prom
activity in
writing.
2. Ticket out the
door.
3. Reader
Responsepaper
4. usatestprep
5. Draw the
circular flow
1.
2.
3.
4.
5.
Resources/Tools
Prom Activity
notebook
Pencil or Pen
Reading Logs
Current Articles
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SSEF1,
SSEF2,
SSEF3
1. What is economics?
2. How can we measure
opportunity cost?
3. What are the benefits of
specialization?
4. How does specialization
affect your life today?
5. How do comparative
advantage and absolute
advantage affect your lives
today?
1. Draw a production possibilities
curve.
2. Cornell Note Taking System
3. KIM Models
4. Economics Articles
5. Current news clips that
demonstrate concepts in the lesson
6. Discussion
7. Reading Logs
8. Review activity
1. Reader
response papers
2. Answering
questions in
discussion and
debate
3. KIM Models
4. 10 Things
learned quiz
5.usatestprep
1. PPTpresentation
2. Articles from
current economics
magazines
3. Reading logs
1. What is economics?
2. How do other countries
around the world allocate goods
and services?
3. Who answers the 3 Big
Economic Questions in our
country as opposed to other
countries?
4. How do different economic
systems address economic
goals?
1. Review activity
2. Cornell Notes
3. Discussion
4. Debate which economics system is
the best
5. Glass Factory Activity
6. Six Square Models
1. Reader
Responsepapers
2. Six Square
Models posted
3. Ticket out the
door
1. PPTPresentation
2.Articles from
current economics
magazines
3. Reading logs
1. Does the government ever
need to be involved in the
economy?
2. Do capitalist economies need
safety nets?
3. Is Adam Smith's "Invisible
Hand Theory" correct?
4. Are transfer payments a
good or bad thing?
1. Write an essay agreeing or
disagreeing with Adam Smith.
2. Debate Laissez Faire Economic
policy.
3. Video clips from current events
that deal with unemployment,
welfare, social security, Medicare,
and Medicaid.
4. Cornell notes
5. Review Activity
1. Essay on
Smith
2. Debate
3. Find a pro and
con for
homework.
4. usatestprep
1. PPTPresentation
2. Examples of
transfer payments
3. Video clips
1. How do the principles of
economics affect our daily
lives?
1. Pizza Production Gamethat covers
all major concepts covered in class
in unit one
1. Pizza game
outcomes. Who
can be the most
efficient Pizza
Producer?
1. Plates
2. Markers
3. Scissors
4. Activity Sheets
5. Quality Control
Assistants
6. Stop Watch
7. Calculator
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Economics: Unit 2 (The Political Spectrum) Hodges
rtJote:
Pacing
All units will conclude with
Standards
SSEMA3,
SSEF5
Essential Questions
1. What does it mean to
have a conservative
view of fiscal policy
2. What does it mean to
have a liberal view of
fiscal policy
Q
comprehensive unit exam
Activities
1. Students will draw the
political spectrum
2. Reading logs
3. Notes and discussion.
4. Reading logs
Assessment
1. reader
response essays
2. Take an exam
that indicates if
you are liberal or
conservative
3. usatestprep
Resources/Tools
1. Posters
2. notebook
3. Pencil or Pen
4. Reading Logs
5. Current Articles
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SSEF5,
SSEMA3
1. What does in mean to be a
socialist?
2. What does it mean to be a
communist or a Marxist?
3. How do socialism and
communismaffect the
allocation of resources in an
economy?
1. Cornell note taking system
2. Discussion
3. Reading logs
4. News clips of communist and
socialist economic programs and
policies.
5. Discuss the effects of
extremism.
1. Reader
response essays
2. Ticket out the
door
3. usatestprep
over domain.
1. Video clips
2. Articles from
current economics
magazines
1. What is Keynesian economic
theory?
2. What is the Austrian
perspective of Joseph Hayek?
3. Which is worse the boom or
the bust?
4. What are the animal
Spirits?
5. Why are wages,
unemployment, and prices
sticky?
1. Watch rap video over Keynesand
Hayek.
1. Ticket out the
door
2. Apply
theories of
Keynes and
Hayek to political
spectrum?
3. Debate who
has the best
ideas
1. Rap video clip
2. Keynes and Hayek
diagram
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2. Identify beliefs of each on a two
column diagram
Economics: Unit 3 (Personal Finance) Hodges
r-!'Jote: All units will conclude with a comprehensive unit exam
Pacing
Standards
SEPF1,
SSERCI
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Essential Questions
1. Howcan debt have a
negative impact on our
lives?
2. Howdoes our
behavior affect our
financial situation?
3. Howdo positive and
negative incentives
affect our spending
habits?
Activities
1. Cornell note taking system
2. Discussion
3. Create a budget for yourself
4. Ask students to bring in
examples of articles that show
incentive that are both positive
and negative.
Assessment
1. Ticket out the
door
2. students mix
and match which
incentive
programs are
negative or
positive.
3. usatestprep
Resources/Tools
1. Reading Logs
2. Articles
3. Examples of
budgets
1. Students will
be my financial
advisers.
2. Ticket out the
door.
3. usatestprep
bench mark exam
4. Reader
response essays.
l. Reading logs
2. internet access
3. Consumer
Confidence charts
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1. What is the relationship
between risk and return?
2. What are the different
kinds of interest paid when
investing or borrowing money
from financial institutions?
3. Where and howshould you
invest your money
l. Cornell note taking system
2. Discussion
3. Students willpick different
stocks from a newspaper or the
internet and discuss risk and
reward.
4. Students compare lowand high
risk savings tools.
1. Howdo taxes and inflation
affect the way we spend our
money?
2. What is the difference
between progressive,
regressive, and proportional
taxes?
3. Howdo interest rates play a
role in buying houses, credit
cards,cars,etc ... ?
1. Cornell note taking System
2. KIMModel over major vocabulary
in this section
3. Lookup a credit report
4. Students willpractice or
borrowing different amounts of
money at different interest rates
l. Mortgage game
2. credit card
activity
3. Compoundand
simple interest
formula sheets.
1. Cornell note taking system
2. Six square with vocabulary from
section.
3. Discussion
4. Guest speaker on the different
types of insurance
1. usatestprep
2. ticket out the
door
3. Six square
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SSEPF5,
SSEF6
1. Howare insurance premiums
related to deductibles and risk?
2. Howcan different types of
insurance help us build a solid
financial plan?
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credit card
companies.
4. Howcan credit cards ruin
your financial life?
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1. Reading logs
2. Video clips from
3. Howcan education affect
you income?
1. Charts that show
unemployment by
education levels.
Economics: Unit 4 (Business Organizations) Hodges
Note: All units will conclude with a comprehensive unit exam
Pacing
Standards
SSEMI4
Essential Questions
1. Howdo business
organizations affect
our daily lives?
2. What is the
difference between a
sole proprietorship
and a partnership?
Activities
1. Cornell note taking system
2. Discussion
3. Reader response articles on
types of businesses.
Assessment
1.ticket out the
door
Resources/Tools
1. Reading Logs
2. Articles
3. Examples of
business
organizations
1. Diagrams of a
typical
corporation
2. Students will
advise what
other students
what type of
business to start.
1. Reading logs
2. internet access
3. Consultingfirm
sheets
1. KimModels and
final exam
1. Reading logs
2. Vocabularysheets
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1. What are the advantages
and disadvantages of a
partnership and a franchise?
2. What are some of the
advantages and disadvantages
of a corporation?
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1. Cornell note taking system
2. Discussion
3. Students willpick different
stocks from a newspaper or the
internet and discuss franchises and
corporations.
4. Students willdraw a diagram of
the typical corporation structure.
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1. According to what we have
learned about business
organizations, what you
recommend to grow small
business and corporations?
1. Cornell note taking System
2. KIMModel over major vocabulary
in this section
3. Students willexplain Kimmodels
and discuss for a review
Economics: Unit 5 (Market Structures)
Hodges
Note: All units will conclude with a comprehensive unit exam
Pacing
Standards
Essential Questions
1. What is the
difference between
perfect and
imperfect
competition?
Activities
1. Cornell note taking system
2. Discussion
Assessment
1. Ticket out the
door
Resources/Tools
1. Reading Logs
2. Articles
SSEMI4
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1. Reading logs
SSEMI4
1. Howare price and
competition affected in
perfectly and imperfectly
competitive markets.
1. Cornell note taking system
2. Discussion
3. Debate
4. Reader response to debate
2. Should we allowprice takers
or price makers in our economic
system? Should we allow both?
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1. Are monopoliesgood or bad
for our economic system?
SSEMI4
2. What are the different
types of monopolies?
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3. Howdoes the government
use antitrust legislation?
1. Cornell note taking System
2. KIMModel over major vocabulary
in this section
3. Students willuse an activity
sheet where they have to show
identify the market and show the
affects of a price change on supply
and demand.
1. Complete
activity sheets
2. Explain KIM
models
1. Reading logs
2. Activity Sheets
Economics: Unit 6 (Microeconomics) Hodges
r'~ote:
Pacing
All units will conclude with a comprehensive unit exam
Standards
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SSEMI2
SSEMI3
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SSEMI2
SSEMI3
Essential Questions
1. What is
microeconomics?
2. What is the law of
Demand?
3. What is the
difference between a
change in quantity
demanded and a
change in demand?
4. What is the
difference between a
shift and a slide?
Activities
1. Cornell note taking system
2. Discussion
3. changes in supply and demand
activity
4. Graphing supply and demand
activity
Assessment
1. Ticket out the
door
2. check
activities
together
3. usatestprep
benchmark
Resources/Tools
1. Reading Logs
2. Articles
3.usatesprep
1. Benchmark
exam
2. check
activities
together
1. Reading logs
2. activity sheets
3. usatestprep
1. How are prices determined?
2. How do markets find
equilibrium or market clearing
price?
3. How do changes in supply and
demand affect market clearing
price?
1. Cornell note taking system
2. Discussion
3. graphing activity
4. price activity
1. What causes surpluses and
shortages and how do we get
rid of these things?
2. What happens when the
government sets artificial
prices?
3. How do price ceilings and
price floors affect the supply
and demand for goods and
services in the economy?
1. Cornell note taking System
2. Students will write a paper
supporting or opposing rent controls
for a fictional city and their home
town. Students will have to defend
their stance in a class debate.
1. Essay and
debate.
1. Reading logs
2. Activity Sheets
1. How does supply and demand
affect your life?
2. Do we need to understand
microeconomics in the real
world?
1. Benchmark exam
2. Current articles on micro issues
3. Market for oil gome
1. benchmark
exam
1. Reading logs
2. Market for oil
activity sheets and
slips.
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Economics: Unit 7 (Macroeconomics) Hodges
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Pacing
All units will conclude with
Standards
SSEMAl
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Essential Questions
1. What is
macroeconomics?
2. Howdoes GDPReflect
economic health in a
country?
3. Howis per capita GDP
figured and what does
it reflect?
4. Howare aggregate
Demandand Supply
affected by inflation?
5. Howdo changes in
imports and exports
affect aggregate
demand?
1. What are the different
types of unemployment?
2. Howare government debts
and deficits created?
3. Howdo business cycles
affect economic growth?
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comprehensive unit exam
Activities
1. Cornell note taking system
2. Discussion
3. changes in supply and demand
activity
4. Graphing supply and demand
activity
1. Cornell note taking system
2. Discussion on current economic
issues dealing with unemployment
and government deficits.
3. Students willwrite an essay
defending or attacking some of the
actions in the articles.
Assessment
1. Ticket out the
door
2. check
activities
together
3. usatestprep
benchmark
Resources/Tools
1. Reading Logs
2. Articles
3. usatesprep
1. Benchmark
exam
2. Essay on
articles
1. Reading logs
2. activity sheets
3. usatestprep
1. Cornell note taking System
2. Students willplay the inflation
game, and we willdefend or oppose
the idea that we all are better if we
all have more money.
1. Debate results
of game
2. Ticket out the
door.
1. Reading logs
2. Activity Sheets
SSEMA2
1. Howdoes the federal
Reserve impact monetary
policy?
SSEMA3
1 What is fiscal Policy?
1. Benchmark exam
2. Students willbe the presidents'
number one economic advisor and
advise the president how to
approach the upcomingfiscal year.
They willpropose a budget for the
nation and defend it.
1. benchmark
exam
2. Budget
defense poneI.
3. Budget
defense essay.
1. Reading logs
2 Budget defense
debate outlines
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2. What makes fiscal policy
exponsionary or
contractionary?
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3. What types of taxes do we
pay and what are the affects of
those taxes on certain income
groups?
Economics: Unit 8 (International)
r'\Note:
Pacing
Hodges
All units will conclude with a comprehensive unit exam
Standards
SSEINl
Essential Questions
1. Why do countries trade?
2. What is the difference
between comparative and
absolute advantage?
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Activities
Assessment
1. Ticket out the
door
2. check
activities
together
Resources/Tools
1. Reading Logs
2. Articles
3.usatesprep
1. Benchmark
exam
2. Ticket out the
door.
1. Reading logs
2. activity sheets
3. usatestprep
1. Cornell note taking System
2. Exchange rate activity. Students
will act as consultants who can
answer certain questions about
exchange rates?
3. Students will look up exchange
rates online and take a virtual tour
to another country.
1. Exchange rate
activity and
discussion with
questions.
1. Reading logs
2. Activity Sheets
1. Benchmark exam
2. Video cartoon clip on trade
restrictions and how they work
3. Where in the world game.
1. benchmark
exam
2. Debate the
merits of
globalization.
1. Reading logs
1. Cornell note taking system
2. Discussion
3. Video clips on comparative
advantage.
4. Comparative advantage
activitiy
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SSEIN3
1. What is the difference
between a balance of trade and
a balance of payments?
2. How does a deficit in the
current or the capital account
affect foreign exchange rates
and the economy of a nation?
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1. Cornell note taking system
2. Discussion
3. Cartoons video clips that help
illustrate balance of payments and
balance of trade.
4. Graphing exercise that shows the
affect of supply and demand on
exchange rates.
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1. Why do we
rates at all?
2. Is it better
or weak dollar
helped or hurt
need exchange
to have a strong
and who is
by both
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1. Is there really such a thing a
free trade?
2. What are trading blocks and
how do they work?
3. What are the tools that
countries use to restrict free
trade?
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4. How does free trade affect
domestic employment?
4. Students will turn in a list of
things in there home and where they
are made.
5. Articles on international trade
and globalization.
3. Where in the
world game.