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Economics Syllabus
Mr. W. English
Fall 2011
Course Overview:
The purpose of this course is to introduce the student to the world of
Economics. The focus will begin with an introduction on the subject
and then progress to first a brief overview of Microeconomics, followed
by a concentration on Macroeconomic themes. During last weeks of the
semester, the course discusses aspects of international and global
Essential Questions:
1. What is meant by Economics?
2. What is the difference between needs and wants?
3. How does scarcity affect the economic decisions we make?
4. How do the three economic systems influence our world today?
5. What is the impact of the three types of business models?
6. How do demand and supply relate to daily life?
7. How does the government influence our economy?
8. What is the impact of international economic policy on our society?
Course Timeline:
Fourth Six Weeks:
Unit 1: Fundamental Economic Concepts
Chapter 1: What is Economics?
Section 1: Scarcity and the Science of Economics
Section 2: Basic Economic Concepts
Section 3: Economic Choices and Decision Making
Chapter 2: Economic Systems and Decision Making
Section 1: Economic Systems
Section 2: Evaluating Economic Performance
Section 3: Capitalism and Economic Freedom
Chapter 3: Business Organizations
Section 1: Forms of Business Organizations
Section 2: Business Growth and Expansion
Section 3: Other Organizations
Unit 2: Microeconomics
Chapter 4: Demand
Section 1: What is Demand?
Section 2: Factors Affecting Demand
Section 3: Elasticity of Demand
Chapter 5: Supply
Section 1: What is Supply?
Section 2: The Theory of Production
Section 3: Cost, Revenue, and Profit Maximization
Fifth Six Weeks:
Chapter 6: Prices and Decision Making
Section 1: Prices as Signals
Section 2: The Price System at Work
Section 3: Social Goals vs. Market Efficiency
Unit 4: Macroeconomics: Policies
Chapter 13: Economic Performance
Section 1: Measuring the Nation’s Output
Section 2: GDP and Changes in the Price Level
Section 3: GDP and Population
Section 4: Economic Growth
Chapter 14: Economic Instability
Section 1: Business Cycles and Fluctuations
Section 2: Unemployment
Section 3: Inflation
Section 4: Poverty and the Distribution of Income
Chapter 15: The Fed and Monetary Policy
Section 1: The Federal Reserve System
Section 2: Monetary Policy
Section 3: Monetary Policy, Banking, and the Economy
Chapter 16: Achieving Economic Stability
Section 1: The Cost of Economic Instability
Section 2: Macroeconomic Equilibrium
Section 3: Stabilization Policies
Section 4: Economics and Politics
Unit 4: International and Global Economics
Chapter 17: International Trade
Section 1: Absolute and Comparative Advantage
Section 2: Barriers to International Trade
Section 3: Financing and Trade Deficits
Sixth Six Weeks:
Chapter 18: Comparative Economic Systems
Section 1: The Spectrum of Economic Systems
Section 2: The Rise and Fall of Communism
Section 3: The Transition to Capitalism
Section 4: The Various Faces of Capitalism
Chapter 19: Developing Countries
Section 1: Economic Development
Section 2: A Framework for Development
Section 3: Financing Economic Development
Chapter 20: Global Economic Challenges
Section 1: The Global Demand for Resources
Section 2: Economic Incentives and Resources
Section 3: Applying the Economic Way of Thinking
Class Rules:
1. You are expected to bring your book, pencils/pens, and paper
with you to class each day unless otherwise announced.
2. Be respectful to yourself, to others, and the teacher.
3. Be in class every day. The more class you miss, the more difficult
it will be for you to catch up with assignments.
4. Electronic devices such as cell phones, iPods, etc. are not allowed
to be used in class. This is district policy, and please respect this.
Other Procedures:
1. Please bring a three-ring binder to class. The binder will be divided
into the following sections: Quizzes, Tests, and Notes. It is advised,
although not required, to keep daily assignments in your binder.
Binders are subject to inspection for a grade. However, any group work
done in or out of class does not go into the binder.
2. Class projects will be counted as daily, quiz, or test grades.
3. All late work will be deducted 15 points for each day that it is late.
Make-up work as a result of U.I.L. events or absence will be due the
second day of class after you return. Please remember that make-up
work is for excused absences and school-sponsored events. This work
may be picked up in the trays located near my desk.
Grading Procedures:
1. Tests and Quizzes: Tests count for 30% of the six weeks grade,
and quizzes count for 20%.
2. Daily Work: This counts for 30% of your six weeks grade.
3. Six Weeks Exam: This exam counts for 20% of your six weeks
4. Major Projects: These assignments will be test grades.
5. Semester Grade: Three Six Weeks Averages- 80%
Semester Exam- 20%
Parental Acknowledgement Form
January 4, 2011
Dear Parent:
This acknowledgement form is to inform you that your
son/daughter is enrolled in my AP Macroeconomics class for
the Spring Semester 2011. Please read the attached syllabus
with your son or daughter so that you are aware of what is
expected of him/her this semester. After you have read this
syllabus, please sign and date below. This form is due in
class on Thursday, January 6, 2011 for a daily grade. If
you have any questions or concerns during the semester, please
feel free to contact me at [email protected] or call the school
office at (956) 969-6700.
Thank you,
William H. English
Parent Signature