Download CP Economics Scope and Sequence Document South Texas I.S.D.

CP Economics Scope and Sequence Document
Economic Concepts, Individual Markets, and Measuring Output
South Texas I.S.D.
First Six Weeks
Objectives/concepts
ELO’s
The student will be able to
identify and explain basic
economic concepts.
ELO’s
•Students should be able to
understand terms related to individual
consumers and businesses.
•Be able to explain the basic
principles of the U.S. free enterprise
system.
•Students should be able to
understand how supply and demand
affect society,
•Understand the 10 principles of
economics and how they tie together
the consumer with society.
•Understand the theory of
comparative economic advantage and
explain how people benefit from
economic interdependence.
•Explain how the economy
coordinates interdependence
economic actors, through the market
force of supply and demand.
•Explain the efficiency of markets,
and the costs of taxation, and the
benefits of international trade.
TEKS
Topics (not in sequential order)
1A, 1B
2A, 2B, 2C, 2D
3A, 3B
4A, 4B
5A, 5B
6A, 6B
7A, 7B
8A, 8B
9A, 9B, 9C
10A, 10B
11A, 11B, 11C
12A, 12B
13A, 13B, 13C, 13D
14A, 14B
15A, 15B
23A, 23B, 23C, 23D
23F, 23G,
24A, 24B, 24C, 24D
25A, 25B
26A, 26B
27A
Economic concepts
1. Scarcity
2. Choice
3. Opportunity costs
4. Production Possibilities Curve
5. Marginal analysis
6. Graphs and their meaning
Economizing Problem
1. Resources
2. Resource Categories
3. Employment and efficiency
4. Production Tables and Graphs
5. Unemployment, growth and the future
6. Economic systems
7. Circular flow model
Individual Markets
1. Demand
a. demand curve
b. determinants of demand
2. Quantity Demanded
3. Supply
a. supply curve
b. determinants of supply
4. Quantity Supplied
5. Supply and Demand: Market Equilibrium
a. surpluses
b. shortages
6. Equilibrium price and quantity
7. Changes in supply and demand
Suggested
Resources
Economics
Principles and
Practices
By
Glencoe
Assessments
Workbook
assignments
Quizzes on
WebCT
Exams from
Chapters 1-5
CP
ECONOMICS
Study Guide
Wall Street
Journal
Newspapers
U.S. News and
World Report
Time
Newsweek
Economics
Baseball
Game
Review
Authors
John Danielson
Juan Jimenez
Richard Yekel
Michael De La Garza
Nina Natanson
David Warden
Jeffrey Pierce
CP Economics Scope and Sequence Document
Economic Concepts, Individual Markets, and Measuring Output
South Texas I.S.D.
First Six Weeks
Objectives/concepts
ELO’s
The student will be able to
understand and explain the
principles of national income,
employment and fiscal policies on
a nation’s economy.
ELO’s
• Students should be able to
understand terms related to
individual consumers and
businesses.
• Be able to explain the basic
principles of the U. S. free
enterprise system.
• Be able to explain how
government actions affect the way
companies deal with economic
growth and decline.
• Be able to compare the free
enterprise system of the United
States with the systems of other
countries.
• Understand the 10 principles of
economics and how they tie
together the consumer with
society.
TEKS
Refer to page 1 for all the
TEKS for the Second Six
Weeks of the Semester.
Topics (not in sequential order)
U.S. in the global economy
1. International Linkage
2. the U. S. and World Trade
3. Specialization and Comparative Advantage
4. Foreign Exchange Market
5. Government and Trade
6. Multilateral Trade Agreements
Suggested
Resources
Economics
Principles and
Practices
By
Glencoe
CP
ECONOMICS
Study Guide
Measuring domestic Output, national Income and the
Price Level
1. Gross Domestic Product
a. expenditures approach
b. income approach
2. National Accounts
3. Nominal GDP versus Real GDP
4. Consumer Price Index
Wall Street
Journal
Assessments
Workbook
assignments
Quizzes on
WebCT
Exams from
Chapters 1-5
Exams from
Chapters 6-8
Graphs
1. circular
flow
2. business
cycle
Newspapers
U.S. News and
World Report
Time
Newsweek
• Understand the theory of
comparative economic advantage
Economic Growth and Instability
1. Economic Growth
FR Question
CP Economics Scope and Sequence Document
Economic Concepts, Individual Markets, and Measuring Output
South Texas I.S.D.
First Six Weeks
Objectives/concepts
ELO’s
and explain how people benefit
from economic interdependence.
• Explain the efficiency of
markets, and the costs of taxation,
and the benefits of international
trade.
• Describe the forces that in the
long run determine the key real
variables, including growth in
GDP, savings, investments, real
interest rates, and unemployment.
• Know how nations interact with
other nations and how it is
described by trade balance, net
foreign investments, and exchange
rates.
TEKS
Topics (not in sequential order)
2. The Business Cycle
3. Unemployment
4. Inflation
5. Redistribution Effects of Inflation
6. Effects of Inflation on Output
Suggested
Resources
Economics
Principles and
Practices
By
Glencoe
CP
ECONOMICS
Study Guide
Wall Street
Journal
Newspapers
U.S. News and
World Report
Time
Newsweek
Assessments
Inflation who
benefits?
CP Economics Scope and Sequence Document
Aggregates, Fiscal Policy, and Money and Banking
South Texas I.S.D.
Second Six Weeks
Objectives/concepts
ELO’s
The student will continue with the
concepts of National Income,
Employment and fiscal policy.
ELO’s
•Be able to explain how
government actions affect the way
companies deal with economic
growth and decline.
•Understand the 10 principles of
economics and how they tie
together the consumer with
society.
•Explain how the economy
coordinates interdependence
economic actors, through the
market force of supply and
demand.
•Know the concept of consumer
and producer surplus.
•Understand Savings,
Investments, and the financial
system and how they are
interactive in our society.
•Describe how our government
system determines what variables
are used in determining
Unemployment Rate.
•Describe the forces that in the
long run determine the key real
variables, including growth in
GDP, savings, investments, real
interest rates, and unemployment.
•Explain the short-run effect of
monetary and fiscal policy, and
TEKS
1A, 1B
2A, 2B, 2D
3A, 3B
4A, 4B
5A, 5B
6A, 6B
7A
8A, 8B
10A, 10B
11A, 11B, 11C
13A
15A, 15B
16A, 16B
17A, 17B, 17C
18A, 18B
19A, 19B, 19C
20A, 20B
21A, 21B
23A, 23B, 23C, 23D,
23E, 23F, 23G
24A, 24D
25A, 25B
26A, 26B, 26C, 26D
27A
Topics (not in sequential order)
Aggregate Expenditures Model
1. Consumption and Saving
2. Average and Marginal Propensities
3. Investment
4. Equilibrium GDP
Aggregate Expenditures
1. Changes in Equilibrium GDP and the
Multiplier
2. International Trade and Equilibrium Output
3. Equilibrium versus Full Employment
Suggested
Resources
Economics
Principles and
Practices
By
Glencoe
Assessments
CP
ECONOMICS
Study Guide
Wall Street
Journal
Exams from
Chapters 912
Newspapers
U.S. News and
World Report
Time
Workbook
assignments
Quizzes on
WebCT
Authors
Graphs
1. investment
demand
curve
2. short-run
aggregate
supply
curve
3. long-run
aggregate
supply
curve
Newsweek
Aggregate Demand and Aggregate Supply
1. Aggregate Demand
Economics
Principles and
Workbook
assignments
John Danielson
Juan Jimenez
Richard Yekel
Michael De La Garza
Nina Natanson
David Warden
Jeffrey Pierce
CP Economics Scope and Sequence Document
Aggregates, Fiscal Policy, and Money and Banking
South Texas I.S.D.
Second Six Weeks
Objectives/concepts
ELO’s
the short-run linkage between real
and nominal variables.
•Understand short-run economic
fluctuations.
•Know how the model of
aggregated demand and aggregate
supply explain short-run economic
fluctuations.
TEKS
Topics (not in sequential order)
2. Determinates of Aggregate Demand
3. Aggregate Supply
4. Determinates of Aggregate Supply
5. Equilibrium: Real Output and the Price Level
6. Changes in Equilibrium
Fiscal Policy
1. Fiscal Policy and the AD-AS Model
a. Expansion
b. Contraction
2. Built-In Stability
3. Evaluating Fiscal Policy
Suggested
Resources
Economics
Principles and
Practices
By
Glencoe
CP
ECONOMICS
Study Guide
Wall Street
Journal
Newspapers
U.S. News and
World Report
Time
Refer to Page 1 of this
Second Six Weeks
Document for all the
TEKS.
Newsweek
Assessments
Quizzes on
WebCT
Exams from
Chapters 912
Graphs
1. investment
demand
curve
2. short-run
aggregate
supply
curve
3. long-run
aggregate
supply
curve
CP Economics Scope and Sequence Document
Aggregates, Fiscal Policy, and Money and Banking
Second Six Weeks
Objectives/concepts
ELO’s
The student will analyze and
explain the functions of money,
how the banking system works
and monetary policies.
ELO’s
•Students should be able to
understand terms related to
individual consumers and
businesses.
•Be able to explain how
government actions affect the way
companies deal with economic
growth and decline.
•Explain the efficiency of
markets, and the costs of taxation,
and the benefits of international
trade.
•Understand how the monetary
system is crucial in determining
the long-run behavior of the price
level, the inflation rate, and other
nominal variables.
•Explain the short-run effect of
monetary and fiscal policy, and
the short-run linkage between real
and nominal variables.
TEKS
Topics (not in sequential order)
Refer to Page 1 of this
Second Six Weeks
Document for all the
TEKS.
Money and Banking
1. Functions of Money
2. Supply of Money
3. Demand for Money
4. Money Market
5. Federal Reserve and Banking Systems
Monetary Policy
1. Consolidated Balance Sheet of the Federal
Reserve
Banks
2. Tools of Monetary Policy
3. Monetary Policy, Real GDP and the Price
Level
4. Effectiveness of Monetary Policy
South Texas I.S.D.
Suggested
Resources
Principles of
MacroEconomics by
Gregory Mankiw
Assessments
AP
ECONOMICS
Study Guide
Exams from
Chapters 1315
Wall Street
Journal
Graphs
1. money
market
2. loanable
funds
market
Newspapers
U.S. News and
World Report
Time
Newsweek
Workbook
assignments
Quizzes on
WebCT
CP Economics Scope and Sequence Document
Economic Growth, Productivity, and The International Economy
South Texas I.S.D.
Third Six Weeks
Objectives/concepts
ELO’s
The student will continue with the
concepts of National Income,
Employment and fiscal policy.
ELO’s
• Students should be able to
understand terms related to
individual consumers and
businesses.
• Understand the 10 principles of
economics and how they tie
together the consumer with
society.
• Understand the theory of
comparative economic advantage
and explain how people benefit
from economic interdependence.
• Know the concept of consumer
and producer surplus.
• Explain the efficiency of
markets, and the costs of taxation,
and the benefits of international
trade.
• Know how nations interact with
other nations and how it is
described by trade balance, net
foreign investments, and exchange
rates.
• Know the long-run model of
open economics and how it
explains short-run economic
fluctuations.
TEKS
1A, 1B
2A, 2B
3A, 3B
4A, 4B
5A, 5B
6A, 6B
7A, 7B
8A, 8B
9A, 9C
10A, 10B
11A, 11B
12A, 12B
13A, 13B, 13C, 13D
14A, 14B
15A, 15B
16A, 16B
17A, 17B, 17C
18A, 18B
19A, 19C, 19D
20A
21A, 21B
22A
23A, 23C, 23D, 23F,
23G
24A, 24C, 24D
25A, 25B
26A, 26B
Topics (not in sequential order)
Raising Productivity: Real Output and
Capital Formation
A.) Human Capital Formation
1.) Growth as a goal
2.) Ingredients of Growth
B.) Physical Capital Accumulation
C.) Research and Development,
Technological Progress
D.) Public Policy and Long-Run Economic
Growth
International Trade and Finance
A.) Why Nations Trade at All
B.) Comparative and Absolute Advantage
C.) Free Trade Versus Protectionism
1.) Arguments for free trade
2.) Arguments against free trade
D.) The Balance of Payments
1.) Current account
2.) Capitol account
3.) International debt of the United States
E.) Exchange Rates
1.) Supply and demand for foreign
exchange
2.) Current fluctuations
a.) appreciation and depreciation
b.) graphing currency changes
Suggested
Resources
Economics
Principles and
Practices
By
Glencoe
Assessments
Workbook
assignments
Quizzes on
WebCT
Authors
CP ECONOMICS
Study Guide
Wall Street Journal
Exams from
Chapters 9-13
Graphs
Money
Market
Newspapers
Case StudyNCEE
U.S. News and
World Report
Wall Street Jr.
activity
Time
FR Questions
Newsweek
Vicious Circle
of Twin
Deficits - Reff
John Danielson
Juan Jimenez
Richard Yekel
Michael De La Garza
Nina Natanson
David Warden
Jeffrey Pierce
CP Economics Scope and Sequence Document
Economic Growth, Productivity, and The International Economy
South Texas I.S.D.
Third Six Weeks
Objectives/concepts
ELO’s
The student will analyze and
explain the functions of money,
how the banking system works
and monetary policies.
ELO’s
• Be able to explain the basic
principles of the U. S. free
enterprise system.
• Be able to explain how
government actions affect the way
companies deal with economic
growth and decline.
• Be able to compare the free
enterprise system of the United
States with the systems of other
countries.
TEKS
Topics (not in sequential order)
Comparative Economic Systems
Refer to page 1 for all the
TEKS for the Second Six
Weeks of the Semester.
Basic Types of Economic Systems
1.) Traditional, command, and market
economies — defined and analyzed
2.) The mixed economy of today
3.) Capitalism and socialism: basic
tenets
4.) Comparing the systems
Suggested
Resources
Economics
Principles and
Practices
By
Glencoe
CP ECONOMICS
Study Guide
Comparing Developed and Developing
Countries
Wall Street Journal
Classifying countries by GDP per capita
a.) problems with classification
Newspapers
How to sustain economic growth in
developing countries
a.) national resources
b.) policy making
Assessments
Workbook
assignments
Quizzes on
WebCT
Exams from
Chapters 1418
Capital Inves.
NCEE
FR Question
Henry Ford
Case Study
U.S. News and
World Report
Case Study
GDP
Time
Implications for a changing world
FR Question
Newsweek
Exchange Rate
Lesson -FR
International
Trade Lesson
FR Question