Download Economics pacing guide

Economic Pacing Guide
Pace
Unit 1: Economic
Decision Making
Fall: 2 weeks
Spring 2 weeks
Essential Learning Questions
What is the relationship between scarcity and the need for choices?
Unit 2: Economic
Systems
Fall: 2 weeks
Spring 2 weeks
How does private property act as an incentive for the use of natural
resources?
What is opportunity cost, marginal benefit and marginal cost?
Standards
CA Standard
12.1
Essential Assignments
7 methods of allocation
Kidney Machine
CA Standard
12.1 and 12.4
Venn – Diagram of Socialism, Capitalism
and Traditional economies
Building an economy – project
Socialism vs. Capitalism – project
CA Standard
12.2 and 12.3
Supply and demand Graphs
CA Standard
12.2
Marketing a product - project
CA Standards
12.2
Making a business – project
What are the differences between monetary and non monetary
incentives and how they change behavior?
What are the three basic economic questions all governments must
answer?
What is an economic system?
Why do markets exist?
Explain the self regulating nature of the market place.
List the advantages and disadvantages of a free market economy.
1st Semester
Unit 3: Supply and
Demand
Fall: 3 weeks
Spring: 3 weeks
Unit 4: Market
Structures and
Advertising
Fall : 2 weeks
Spring 2 weeks.
Unit 5: Business
Organizations
Fall: 1 week
Spring: 1 week
Wednesday, June 11, 2014
Explain the law of supply and the law of demand.
Explain the substitution effect and the income effect.
What are the three characteristics of a demand curve?
Explain the difference between the change in the quantity demanded and a
shift in the demand curve.
What are the factors that can cause a shift in the demand curve?
How does the change in price effect the demand for complementary goods
or substitute goods?
How elasticity of demand calculated and what is are the factors that affect
elasticity?
What are the four factors for perfect competition?
List two common barriers to firms entering the market.
Describe how monopolies are formed, including government monopolies.
What does government approve of natural monopolies?
How would price fixing and collusion help producers?
How do firms use market power?
List three market practices that government regulates or bans to protect
competition.
What is the purpose of antitrust laws?
Describe the role of sole proprietorships, partnerships and corporations in
the U.S. economy.
Identify advantages and disadvantages of sole proprietorships, partnerships
and corporations.
What is a business organization?
Compare and contrast the different types of partnerships.
Explain the different types of corporations and they way they are structured.
Compare and contrast corporate combinations.
Economic Pacing Guide
Describe the role of multinational corporations.
Unit 6: Financial Markets
Fall: 1 week
Spring: 2 weeks
2nd Semester
Unit 7: Business cycles
and Economic Indicators
Fall: 2 weeks
Spring: 3 weeks
Unit 8: Banking and
money
Fall 2 weeks
Spring 2 weeks
Wednesday, June 11, 2014
Explain how investing contributes to the free enterprise system.
Explain how the financial system brings together savers and borrowers.
Describe how financial intermediaries link savers and borrowers.
Identify the tradeoffs between risk, liquidity and return.
Describe the characteristic of stocks and bonds as financial assets.
Identify different types of bonds.
Describe other types of financial assets markets.
Identify national income and product accounts. (NIPA)
Explain how Gross Domestic Product (GDP) is calculated.
Explain the difference between nominal and real GDP.
List the main limitations of GDP.
Describe other income and output measures.
What are the factors that influence GDP?
Describe the four types of unemployment.
What is inflation and how does it affect the economy?
Explain how the Bureau of labor statistics determines the unemployment
rate.
Explain why full employment does not mean every worker is employed.
What are the different types of money?
Explain the six characteristic of money.
Understand the sources of moneys value.
Describe the shifts between centralized and decentralized banking prior to
the civil war.
Explain how the banking system was stabilized during the Gilded Age.
Describe developments in banking during the 20th century.
Define Fiscal policy and how it affects the economy.
Explain how the government creates the federal budget.
Describe the effect of the two types of fiscal policy on the economy.
Identify the limits of fiscal policy.
Compare and contrast classical and Keynes economics.
Explain supply-side and demand-side economics.
Understand the role of fiscal policy has played in American history.
Explain the importance of balancing a budget.
Analyze how budget deficits add to the national debt.
Summarize the problems caused by the national debt.
Identify how a government can reduce budget deficit and national debt.
Describe the banking history of the United States.
Explain how the Federal Reserve acts of 1919 lead to economic reform.
Describe the structure of the modern Federal Reserve System (Fed).
Explain how the Federal Reserve serves the Federal government.
Explain how the Federal Reserve serves banks and regulate the banking
CA Standard
12.5
Chart of investment accounts
CA Standard
12.5
Transactional Costs
CA Standard
12.6
Federal Reserve Reading
Show me the Money
Economic Pacing Guide
Unit 9: Government
Spending and Taxation
Fall: 1 week
Spring: 1 week
Unit 10: International
Trade
Fall: 1 week
Spring: 1 week
Wednesday, June 11, 2014
system.
Explain the role of the Federal Reserve in regulating the nation’s money
supply.
How does the government use taxes to fund social programs?
Describe the tax base and structures.
List the characteristics of a good tax.
Identify who bears the burden of taxes.
Identify the purpose of Social Security, Medicare, and unemployment taxes.
Identify the difference between mandatory and discrecitionary spending.
Describe the major entitlement programs and anti-poverty programs.
Explain the impact of aid to state and local governments.
Explain how resource distribution affects trade.
What are the differences between absolute and comparative advantage.
Explain the major trading partners of the United States for both imports and
exports.
Describe the effects of trade on unemployment.
Explain various types of trade barriers and their effects.
What are some arguments in favor of and against protectionism?
Describe efforts toward international cooperation and agreements.
Explain the role of multinationals in a global market.
Explain how exchange rates affect international trade.
Describe the effects of various exchange rate systems.
Explain the concept of balance of trade and the factors that affect trade
deficits.
CA Standard
12.3
By the numbers – reading
CA Standard
12.6
What is NAFTA- reading?