Download Course Syllabus: Economics – College Prep

Verona High School
Department of History and Social Sciences
Course Syllabus: Economics – College Prep
2012-2013
Mr. Tamburro
Introduction
Economics is the study of how people seek to satisfy their needs and wants by making choices. This course seeks to
better understand this decision-making process both on the micro and macro levels. The micro half of the course will
begin with students learning basic economic reasoning—in other words, learning to think in economic terms. Next,
students will delve into the market system, learning the laws of demand and supply and how they work together to
determine equilibrium price. On the macro side, students will discuss first how the government can work to satisfy
national economic goals, and subsequently, how government influences the economy using fiscal and monetary policy.
Later, students will examine and determine the benefits and challenges of international trade. Finally, students will
conclude the semester by forecasting the future of the world’s ever-changing economic landscape.
Course Outline – Semester Course
Marking Period 1
A) Unit 1: Introduction to Economics (10 days)
1. What is economics?
A. Scarcity and the Factors of Production
B. Opportunity Cost
C. Production Possibilities Curves
2. Economic systems
A. Answering the Three Economic Questions
B. The Free Market
C. Centrally Planned Economies
D. Mixed Economies
3. American free enterprise
A. Benefits of Free Enterprise
B. Promoting Growth and Stability
B) Unit 2: How Markets Work (14 Days)
1. Demand
A. Understanding Demand
B. Shifts in the Demand Curve
C. Elasticity of Demand
2. Supply
A. Understanding Supply
B. Costs of Production
C. Changes in Supply
3. Prices
A. Combining Supply and Demand
B. Changes in Market Equilibrium
C. Changes in Supply
4. Market Structures
A. Perfect Competition
B. Monopoly
C. Monopolistic Competition and Oligopoly
D. Regulation and Deregulation
C) Unit 3: Business and Labor (3 Days)
1. Business Organizations
A. Sole Proprietorships
B. Partnerships and Franchises
C. Corporations, Mergers, and Multinationals
D. Nonprofit Organizations
2. Labor
A. Labor Market Trends
B. Labor and Wages
C. Organized Labor
D) Unit 4: Money, Banking, and Finance (7 days)
1. Money and Banking
A. Money
B. The History of American Banking
C. Banking Today
2. Financial Markets
A. Saving and Investing
B. Bonds and Other Financial Assets
C. The Stock Market
Marking Period 2
E) Unit 5: Measuring Economic Performance (12 Days)
1. Gross Domestic Product and Growth
A. Gross Domestic Product
B. Business Cycles
C. Economic Growth
2. Economic Challenges
A. Unemployment
B. Inflation
C. Poverty
F) Unit 6: Government and the Economy (13 Days)
1. Taxes and Government Spending
A. What Are Taxes?
B. Federal Taxes
C. Federal Spending
D. State and Local Taxes and Spending
2. Fiscal Policy
A. Understanding Fiscal Policy
B. Fiscal Policy Options
C. Budget Deficits and the National Debt
3. The Federal Reserve and Monetary Policy
A. The Federal Reserve System
B. Federal Reserve Functions
C. Monetary Policy Tools
D. Monetary Policy and Macroeconomic Stabilization
G) Unit 7: The Global Economy (6 Days)
1. International Trade
A. Absolute and Comparative Advantage
B. Trade Barriers and Agreements
C. Measuring Trade
2. Development and Globalization
A. Levels of Development
B. Issues in Development
C. Economies in Transition
D. Challenges of Globalization
H) Summative Assessment
1. Microeconomic Simulation
2. Macroeconomic Simulation
3. Synthesis Simulation
Expectations for Economics
While economics is an elective course, it is demanding and rigorous one. You chose to take this course based on your
specific interests, thus it is expected that you will actively and deliberately work to make the course the best
opportunity it can be for you and your classmates. The expectations with respect to work and assignments are
consistent with any college-prep required history course. The concepts that we will explore require you to actively
participate, make connections, and conduct outside research. The study of economics is fascinating, but do be
completed effectively, requires a significant level of commitment from the students and teacher. As such, a number of
homework assignments and both in- and out-of-class graded assessments will be given to students each marking
period.
Classroom Activities and Assessments
The differentiated approach to our class will permit us to explore history through a number of different lenses.
Frequent classroom activities and assessments include:
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Current events and media pieces
Do now activities
Group projects
Class and group discussion
Simulations
Graph and data creation / analysis
Quizzes and Tests
Other examples of classroom activities and assessments include:
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Written responses / essays
Poster projects
Individual and group presentations
Debates
Completion of graphic organizers and charts
Primary document analysis
Video presentations and analysis
Tips for a Successful Year
There are three basic rules for thriving in Economics:
1.) Earn the respect of your teacher and your peers. In order to be respected, you must first be respectful to
others. Work to keep the class in motion by avoiding distractions and needless behavior. Act in a manner
consistent with the Verona High School Student Handbook. Remember that you are part of a community, and
must align your actions with the expectations of your parents, teachers, and peers. If you have specific
concerns about your own grades, discuss them with me before or after school so that we do not take time away
from the class.
2.) Participate. Chances are that you will not like a class if you do not become an active part of the course. There
will be an activity for you to do as soon as you enter the classroom. Work immediately and diligently.
Throughout the class period, raise and answer questions. Share and defend your opinions. In order to be an
informed member of the class, you must prepare for each period by completing all assignments and reviewing
the activities of the previous class. Listen intently to the class discussion so you can respond. Take the
initiative to do outside research to expand your understanding.
3.) Take responsibility for your own actions. Everyone has bad days and makes mistakes. As you will find out in
this course, humanity tends to learn only after it suffers from major errors. When you make a mistake, own up
to it and learn. You will gain the respect of others if you make and follow a plan to prevent further issues.
Avoid issues by frequently checking the class website to make sure that you have completed all assignments.
If you are absent from class, you are responsible for making up the work in a timeframe consistent with school
policies. Use the extra hand-out boxes to independently retrieve any items you may have missed. If you hand
in a project late, understand and accept that you will receive a 10% deduction in credit per day. Read
directions on all assignment sheets carefully.
Grading
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Grading will be based on a total points system: [(number of points earned) / (number of points possible)] X
100.
Completion of assignments is a great way to keep grades high. Conversely, not completing assignments can
potentially lower grades by one to two letter grades (e.g. A to C)
Students can discuss their grades with Mr. Tamburro before school and after school. Individual grades will not
be discussed during class time. Students should frequently review their grades on Genesis.
Grading values shall be determined and assigned in accordance with Department of History and Social
Sciences policies. This policy is available on the teacher website.
Extra Help and Student Progress
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Mr. Tamburro is available most days for extra help before school (7:15am) on a walk-in basis. He is also
available during after school by appointment.
Students and parents are encouraged to contact Mr. Tamburro to check student progress and arrange for extra
help if needed.
Parents are encouraged to contact Mr. Tamburro by phone (VHS) or e-mail with questions about student
progress. Please allow 24 hours for an e-mail response.
Contact Information
VHS Phone: (973) 571-6750
e-mail: [email protected]
website: www.veronaschools.org/tamburro