Download ECONOMICS SYLLABUS MISSAL 2015-16

PERTH AMBOY HIGH SCHOOL
SYLLABUS / ECONOMICS
Instructor: Mr. Steven P. Missal, Sr. / Phone: 732-376-6000 / E-mail: [email protected]
Web Page: http://econpahs.wikispaces.com/HOMEPAGE
Text: Understanding Economics
ISBN: 9780076643448 Publisher: McGraw-Hill Companies, Publication date: 2016
Credits: 5.0
Course Description: this full-year course is designed to expose students to micro and macroeconomic concepts
as well as basic financial literacy. The course is divided into two sections; the first half of the course consist of
the microeconomic study while the second-half is both macroeconomics and financial literacy. Microeconomics
covers scarcity, price determination, the theory of the firm externalities, and supply and demand.
Macroeconomics details public finance, fiscal and monetary policy, inflation, unemployment, and economic
growth to round out the semester-long course. While consumer topics are covered during the course, an
emphasis is also placed on critical thinking skills, as well as the understanding, application and analysis of those
economic concepts. Students will learn to question, evaluate marginal costs and benefits, and explore the ways
in which one action causes secondary actions.
This course will provide students with an understanding of the way in which society organizes its limited
resources to satisfy unlimited wants. Students will be introduced to the major characteristics of the mixed
market economic system in the U.S. and how basic economic questions are answered. Emphasis will be placed
on the individual’s role as producer, consumer, saver and taxpayer in relation to the system.
This course is designed to present economics as a relevant, serious, spirited, and evolving social science. The course is intended to expand the
realm of critical, analytical, and evaluative processes of thought; all designed to have students see the world through the more objective and
considered lens of an economist. The course will help students gain an integrated insight to economic philosophy and theory as well as the
operational dynamics of economic societies, especially the United States. The course will allow to students to understand how incentive-based
human behavior often determines how an economy (and society) works and to conceive of ways in which it might be made to work better. The
course will provide students with the life and career skills needed to function optimally within this dynamic context and will better prepare
students for the intensely competitive and constantly changing worldwide marketplace. Students learn how economies and markets operate
and how the United States economy is interconnected with the global economy. Additionally they learn how to navigate the financial decisions
they must face and to make informed decisions relating to career exploration, budgeting, banking, credit, insurance, spending, financing
postsecondary education, taxes, saving and investing, buying/leasing a vehicle, and living independently. They also learn the importance on
investing in themselves in order to gain the knowledge and skills valued in the marketplace. Development of financial literacy skills and an
understanding of economic principles will provide the basis for responsible citizenship, more effective participation in the workforce, and
career success. The impact of a variety of factors including geography, the federal government, economic ideas from important philosophers
and historic documents, societal values, and scientific discoveries and technological innovations on the national economy and economic policy
is an integral part of the course. The course incorporates all economics and financial literacy objectives included in New Jersey’s Standard 9.1
Personal Financial Literacy and incorporates the 20 National Content Standards developed and revised by the Council for Economic Education.
This course fulfills the state mandate contained in N.J.A.C. 6A: 8–5.1 (a) lv for all students who entered high school 2010 or later to complete
2.5 credits and financial, economic, business, and entrepreneurial literacy.
Course Objectives: The student will be able to
 Explain how economic choices are influenced by complex interactions of market conditions and individual priorities
 Analyze how governments organize to influence the distribution and control of capital, goods, and services
 Identify how the system of trade has local, national, and international influences
 Explain the roles, rights, processes, and responsibilities of individuals in interacting with the system of trade and exchange
 Analyze the impact of scientific and technological development on individuals and society (i.e., computers, fiber optics, and the
internet) Applies reading and writing skills to inquire, think critically, and apply economic concepts to new situations
Class Requirements and Procedures:
You are expected to be prepared for class. This means that you have read the required assignments and have your journal notes, paper, and
pencil each day. You will be required to take and keep notes from lectures and class discussions. Keep in mind quiz, tests, and exam questions
will come primarily from our class activities, lectures and class discussions. ALL policies provided by the PAPS school district and the high
school, shall be in effect at all times. This includes rules about uniforms and electronic devices. Don’t have your electronic devices out and be
reminded your ID is part of your uniform.
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Grading: Grades will be available online on the Infinite Campus website. The grade breakdown is as follows:
Classwork, Homework
10%
Quizzes
30%
Tests
60%
Text Table of Contents
Unit 1 Thinking Like an Economist
Chapter 1 What is Economics? Chapter 2 Economic Systems and Decision Making Chapter 3 The American Free Enterprise System
Unit 2 Understanding Markets
Chapter 4 Demand Chapter 5 Supply Chapter 6 Prices Chapter 7 Market Structures
Unit 3 Business and Labor
Chapter 8 Business Organization Chapter 9 Employment, Labor, and Wages
Unit 4 Money, Banking, and Finance
Chapter 10 Money and Banking Chapter 11 Financial Markets
Unit 5 Economic Performance
Chapter 12 Evaluating the Economy Chapter 13 Business Cycles and Economic Instability
Unit 6 Government and the Economy
Chapter 14 Taxes and Government Spending Chapter 15 Fiscal Policy Chapter 16 The Federal Reserve and Monetary Policy
Unit 7 The Global Economy Chapter 17 International Trade Chapter 18 Global Economic Development Chapter 19 Personal Financial Literacy
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Suggested Scope & Sequence
Unit 1 – Intro to Economics
Six Weeks
Unit 2 – Personal Finance –
Six Weeks
Unit 3 - Microeconomics –
Five Weeks
Unit 4 Macro Economics –
Six Weeks
Unit
Five
–
Global
Economics Five Weeks
What is Economics? Chapter 1
Scarcity
Economics as a Choice
Economic Models
Money and Banking Chapter 10
Evolution of Money
Development
of
Modern
Banking
Banking Today
Market Structures Chapter 7
Competition
and
Market
Structures
Market Failures
Role of Government
Economic Systems Chapter 2
Economic Systems
Mixed Economy
Capitalism
American Free Enterprise System
Chapter 3
Free Enterprise
Roles & Responsibilities in Free
Enterprise System
Evaluating
Economic
Performance
Demand Chapter 4
What is Demand?
Factors Affecting Demand
Flexibility of Demand
Supply Chapter 5
What is Supply?
Theory of Production
Cost, Revenue, and Profit
Prices Chapter 6
How Prices Work
Effects of Prices
Price/Market Goals and Efficiency
Financial Markets Chapter 11
Saving and the Financial System
Financial Assets and Markets
Investment Options
Personal
Financial
Literacy
Chapter 19
Financial Institutions and Your
Money
Business Organization and Your
Money
Personal Money Decisions
Credit, Loans and Financial
Awareness
Credit & Credit Cards
Car/School Home Loans
Financial Trouble & Bankruptcy
Budgeting
Business and Labor Chapter 8
Forms of Business
Business Growth
Non Profit Organizations
Labor and Wages Chapter 9
Labor Movement
Wages and Labor Dispute
Employment Trends
Evaluating the Economy Chapter
12
Measuring National Input
Population Growth and Trends
Poverty and Distribution of
Income
Economic Instability Chapter 13
Business Cycles and Instability
Inflation
Unemployment
Taxes and Government Spending
Chapter 14
Taxes
Federal Government Finances
State and Local Government
Finances
Fiscal Policy Chapter 15
Demand Side Policies
Supply Side Policies
Macroeconomic Equilibrium
Monetary Policy Chapter 16
Structure and Responsibilities of
the FED
Monetary Policy
Economics and Policy
Resources for Global Trade
Chapter 17
Absolute and Comparative
Advantage
Barriers to International
Trade
Foreign Exchange and
Trade Deficits
Global
Economic
Development Chapter 18
Economic Development
Globalization
Characteristics and Trends
Global
Problems
and
Economic incentives
Global Trade Organizations
WTO
IMF
NAFTA and CAFTA
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