Download Economics - Blue Valley Schools

Economics
Mr. Breedlove
Plan Period: 4th Hour (MTF 7:45 – 8:33 or WE 7:45 – 9:13)
Telephone/Voice Mail #: 239-3245
Email: [email protected] (preferred means of contact)
Course Overview: The economics course is designed to present a comprehensive view of the
many components and functions of economic systems. The course will focus not only on the
increasing importance of economics for individuals, but nationally and globally, as well. The
class offers a survey of the foundations of economies, the concepts of microeconomics and
macroeconomics, monetary policy and ever-changing world markets.
Course Objectives: The student will –
1. Be able to identify the basic concepts underlying various economic systems
2. Understand how an economic system operates in answering the basic economic
questions of; (1) what to produce; (2) how to produce; and (3) for whom goods and
services will be produced.
3. Be able to apply the knowledge of economic systems to personal economic choices in
the marketplace, on the job and at the ballot box.
4. Analyze the strengths and weaknesses in different economic systems as well as the
processes of change that affect them.
5. Gain a greater understanding of the features and functions of monetary policy and the
effects the decisions have on everyday lives.
6. Research, write and present conclusions pertaining to the ideas, issues and concepts
relevant to economics.
7. Recognize the significance of the role that the U.S. plays in world economies, as well
as the increasing challenge to our position from expanding economies overseas.
Grading: The course grade is based on an accumulated number of points. The course grade is
cumulative – not an average of quarterly grades. The following scale is used –
90% - 100% = A
80% - 89%
=B
70% - 79%
=C
60% - 69%
=D
Below 59% = F
Class Discipline: There are basic rules that will govern class conduct for both teacher and
student.
1. Respect – It is expected that everyone will respect the learning environment and their
colleagues. This class is designed to foster independent thinking and analysis and
will be a place where everyone can feel safe to express their opinions and contribute.
2. On-time/Preparedness – It is expected that everyone will be on time and prepared for
class every day. Students should be in their seat when the bell rings and ready for
class.
Attendance/Makeup Policy: The BVN Social Studies Department has adopted the
following guidelines regarding late or missing homework:
1. All student work must be completed by the Progress Report dates unless specific
arrangements have been made between teacher and student. It will be the
student’s responsibility to make those arrangements. Otherwise, no points will be
given after the Progress Report dates.
2. Students must be prepared to take any missed assessment upon return to school
after an absence unless arrangements have been made between teacher and
student. In other words, if you are in class for the entire unit, and then miss
the day before the test or the test date, you will take the test on the day you
return to school. It will be the student’s responsibility to make those
arrangements, and all assessments must be made up within one week of the
student’s return.
3. Long term assignments are due on the due date regardless of student absence.
Students will be penalized for late assignments in accordance with course
directives.
4. All late daily work will be assessed beginning at 50% credit. However, students
are allowed two days without penalty to make up daily work for each day of an
excused absence. Because assignments are intended to prepare students for
assessments, daily work will not be accepted beyond the assessment for that unit
College Now Credit: This course is co-offered with Johnson County Community College.
Students are able to pay for college credit through JCCC and earn three (3) credits of Economics
(ECON 132). Students are individually responsible for application, registration and
payment directly to JCCC. The teacher will provide more information to the students early in
the semester.
Academic Support Time: Academic Support Time will be used as time to supplement
classroom instruction. These sessions are critical to review concepts and prepare for upcoming
exams. The teacher is also available before and after school (with prior notice) for makeup work
or extra tutorial time.
Cell Phones: I am going to adopt a “screens down” approach to cell phones this year. I
recognize the powerful computing tools that cell phones have become and therefore will
attempt to use them in this capacity on a regular basis. We will use the phones for quick
research, definition of new terms and current events activities - at the teacher’s direction!
Each time a student is caught using a cell phone during class (not during a directed
activity) that student will lose credit for the homework due that day or the next
(whichever is applicable). NO QUESTIONS ASKED or EXCUSES!
Cheating/Plagiarism: Cheating or plagiarizing will not be tolerated. Any instance of cheating
or plagiarizing, regardless of scope or circumstance, will result in a zero on the assignment and
parents will be notified.
Course Outline:
I. Basic Economic Concepts
A. Define economic systems.
1. Describe the fundamental economic questions.
2. Contrast capitalism and socialism.
B. Summarize the methodology of economics.
C. Define scarcity.
1. Summarize the tradeoffs within an economy and define the
opportunity cost of making a choice.
2. Describe the Production Possibilities Model.
D. Explain how markets function using supply and demand analysis.
1. Describe the Circular Flow of Income model.
2. Define the laws of demand and supply.
3. Explain the determinants of demand and supply.
4. Outline the effects of changes in demand and supply
E. Evaluate capitalism.
1. List and explain the pros and cons associated with capitalism.
2. List and describe the market failures associated with capitalism
and describe governmental attempts to correct them.
II. Microeconomics
A. Describe consumer theory.
1. Define elasticity.
2. Define marginal utility
B. Describe the theory of the firm.
1. Outline legal forms of business.
2. Describe the economic functions of the firm.
3. Define diminishing returns and production costs.
4. Outline the characteristics of the four market structures.
5. Describe the behavior of the firm within pure competition, pure
monopoly, oligopoly and monopolistic competition.
6. Summarize the effects of firm behavior under different market
structures.
C. Summarize the role of government in regulating business.
1. Summarize anti-trust legislation.
2. Define natural monopolies.
3. Outline consumer protection policies.
4. Describe environmental protection policies.
5. Summarize deregulation policies.
III. Macroeconomics
A. Describe national income accounting.
1. List the components of GDP.
2. Contrast real GDP and nominal GDP.
3. Outline the components of national income.
B. Contrast Classical and Keynesian approaches to the business cycle.
1. Describe Say's Law.
2. Describe aggregate demand and supply
3. Summarize supply-side approaches to addressing national
problems.
D. Describe fiscal policy.
1. Summarize Keynesian fiscal policy
2. Outline alternative recommendations to the Keynesian approach
3. Contrast deficits and national debt.
C. Monetary policy
1. Define the functions of money.
2. Summarize the role of commercial banks in money creation.
3. Describe the structure & functions of the Federal Reserve System.
4. Define monetary policy.
IV. International Economics
A. Describe international trade.
B. Summarize the role of specialization and comparative advantage in
international trade.
C. List and describe protectionist policies.
D. Outline the role of trade negotiations in international trade.