Download Economics Syllabus

Economics
Mr. Adams-Room 233
Course Syllabus 2013-2014
COURSE DESCRIPTION:
This Course examines the allocation of scarce resources and the economic reasoning used by people as consumers, producers, savers, investors,
workers, citizens and as agents of the government. Key elements include the study of scarcity, supply and demand, market structures, the role of government,
national income determination, money and the role of financial institutions, economic stabilization and trade.
Lessons and common assessments for this course have been developed collaboratively using best practice as a guide, and Indiana State Standards as
a framework. Students will be expected to complete formative assessments sometime during the 9th through 11th week of the semester; and a final summative
exam at the end of each semester. The formative assessment is designed primarily to inform instruction, giving the teacher a measurement of student progress
towards the understanding of the learning targets of the course content. The semester final is summative in nature, and will be worth 20% (1/5th) of the
student’s overall semester grade.
LEARNING TARGETS:
1. Students will understand that productive resources are limited; therefore, people cannot have all the goods and services they want. As a result, they must choose
some things and give up others.
2. Students will understand the role that supply and demand, prices, and profits play in determining production and distribution in a market economy.
3. Students will understand the organization and role of business firms and analyze the various types of market structures in the United States economy.
4. The student will understand the roles of government in a market economy are the provision of public goods and services, redistribution of income, protection of
property rights, and resolution of market failures.
5. Students will understand the means by which economic performance is measured.
6. Students will understand the role of money and financial institutions in a market economy.
7. Students will understand economic stabilization policies and how they impact the economy.
8. Students will understand why individuals, businesses, and governments trade goods and services and how trade affects the economies of the world.
STUDENT EVALUATION:
Student grades will be figured with the following items weighted by percentage below for 18 weeks:
60%: Unit Exams
15%: Quizzes
10%: Homework
15%: Standards Based Writing
0%: Formative Assessments and Formative Activities
C H S Grade Scale
98-100
A+
94-97
A
91-93
A88-90
B+
84-87
B
81-83
B78-80
C+
74-77
C
71-73
C68-70
D+
64-67
D
60-63
D59.44 –Below F
Final Grade
18 Wk. Grade = 80%
Final Exam
= 20%
100%
LATE WORK POLICY: (This applies to regular homework,
extended assignment due dates and any late excused absences.)
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Assignments handed in 1 day late will be 15% off +
points off for any mistakes made in the assignment.
Assignments handed in 2 days late will be another 15%
off (total of 30%) + points off for any mistakes made in
the assignment.
Assignments handed in 3 days or more late will not
receive any credit.
If an assignment is made prior to an illness or absence,
due dates are not extended.
*(For more details regarding late work and unexcused absences,
refer to the student handbook)
COURSE CONTENT:
Units of study (Indiana Standards) in this order:
Textual Reading:
#1- Scarcity and Economic Reasoning
#2- Demand, Supply, Equilibrium
#3- Market Structures
#4- The Role of Government/Fiscal Policy
#5- National Economic Performance /Economic Stabilization
#6- Money and the Role of Financial Institutions/Monetary Policy
#7- Trade
Chapters:
Chapters:
Chapters:
Chapters:
Chapters:
Chapters:
Chapter:
#1, #2
#4, #5, #6, pp. 209-210
#3, #7, p. 484
#9, #10
#12.1, #13, #15.1, #15.2
#11, #14
#16
The following is a brief outline of the content covered in Economics based on the Indiana State Standards.
Weeks 1-3
Unit 1 Scarcity and Economic Reasoning
Chapters: 1 and 2
Topics:
Scarcity
Trade-offs and Opportunity Cost
Circular Flow of Economic Activity
Comparative Economic Systems
Economic Incentives
Weeks 4-8
Unit 2 Supply and Demand
Chapters: 4, 5, and 6, and pages 209 – 210
Topics:
Law of Demand
Elasticity of Demand
Determinants of Supply
Prices as Signals
Changes in Supply and Demand
Consumer Sovereignty
Wage Determination
Marginal Cost Analysis
Weeks 9-10
Basic Economic Concepts
Production Possibilities Frontier (Curves)
Economic Goals of US Economy
Factors of Production
Determinants of Demand
Law of Supply
Elasticity of Supply
Equilibrium
Price Ceilings and Price Floors
Microeconomic Graphs
Productivity
Unit 3 Market Structures
Chapters: 3, 7, and page 484
Topics:
Sole Proprietorships, Partnerships, Corporations
Other Business Organizations
Monopolistic Competition (Price Searchers)
Monopolies (Price Makers)
Government Intervention
Reinvestment, Borrowing, Mergers
Perfect (Pure) Competition (Price Takers)
Oligopolies (Cartels/Collusion) (Price Leaders)
Market Failures (Spillovers/Externalities)
Corporate Financing
*FORMATIVE ASSESSMENT DURING WEEKS 9-10
Weeks 11-13
Unit 4 Role of Government in the Economy
Chapters: 9 and 10
Topics:
Taxation (Principles, Criteria, Types)
Federal Tax System (IRS)
Current Tax Issues
Federal Government Expenditures
Deficits, Surpluses, and the National Debt
Fiscal Policy
Weeks 14-15
Unit 5 National Economic Performance/Economic Stabilization
Chapters: 12.1, 12.2, 13, 15.1, 15.2
Topics:
Gross Domestic Product (GDP)
Output Expenditure Model
Factors of Economic Growth
Unemployment
Aggregate Demand and Supply (and the things that cause changes for these)
Demand-Side Economics (Keynesian)
Laffer Curve
Macroeconomic Graphs
Weeks 16-17
Gross National Product (GNP)
Business Cycles and Leading Economic Indicators (LEI’s)
Recession, Depression, and Expansion
Inflation
Macroeconomic Equilibrium
Supply-Side Economics
Fiscal and Monetary Policy
Debts and Deficits
Unit 6 Money and the Role of Financial Institutions
Chapters: 11 and 14
Topics:
Characteristics of Money
Assets, Investment Options and Strategies
Federal Reserve System (FED Structure)
Functions of Money
Simple Interest
Week 18
Incidence of Taxes
State and Local Taxation
Economics of Government Spending
State and Local Government Expenditures
Functions of Government
Modern Banking and its Role
Stock Market
Monetary Policy (“Tools” used)
Fractional Reserve Banking (Deposit Multiplier)
Unit 7 Trade
Chapters: 16
Topics:
Absolute and Comparative Advantage
Exchange Rates
Trade Barriers, Quotas, and Tariffs
*Summative Final Exam (All Units Covered)
Free Trade versus Protectionism
Trade Deficits and Surpluses
Moodle
My Moodle site can be found at moodle.nacs.k12.in.us -> All Courses -> Social Studies -> Economics – Adams. The
enrollment key is “economics1” or “economics2” (depends on which semester you are in) without the quotes. Students
can find copies of notes, online assignments, power points, videos, Indiana Economic Standards, and access to the
textbook online through this site. Make use of it.
Technology/Computers
I realize the importance of technology in education. Therefore, abiding by the school’s technology policy, I do allow
laptops in my classroom at appropriate times being used in appropriate ways. Failure to use computers in this way will
result in the computer being put away and possibly not allowed again in the class.
Discipline/Behavior Issues
 Must bring your calculator, textbook, notebook, pen and pencil daily
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Must follow rules (policies) as stated in student handbook
DO NOT BE LATE!
Excessive Food and Beverage will not be tolerated.
No demeaning talk about fellow students, teachers, administrators, and No swearing or derogatory language
If you like to sleep, you will receive ONE warning, after you are caught sleeping the second time, you will receive
an in room, after or before school detention; anything after this, will result in issue being handed over to the
office
"DO UNTO OTHERS AS YOU WOULD HAVE THEM DO UNTO YOU"
Listen and follow directions precisely
Do not disrupt the learning of anyone else in the class
YOU are responsible for everything that occurs in class; whether you are here or not!
YOU will need to get notes, handouts, missed written assignments from me or see Moodle site
There are always consequences to not following these guidelines! Each case will be dealt with on an individual
basis
Have Fun with the subject, even though you may not always see relevance!
Make-Up Test Policy:
If you have an excused absence, and it is within your limit of 9 absences per semester, here are your options of
how and when you will make up a test:
1- The same day, if you return and have a study hall (I will hunt you down!)
2- When you return, the next morning from 7:15-7:45 a.m. (in my room)
3- When you return the next day, during your study hall, if it is before this class (if no
study hall, refer to #2 above)
4- Or during class itself...however you will be responsible for missed work in class that
day and you will incur a deduction from your grade for that test! (This will be handled
on an individual basis!)