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COURSE OUTLINE
Unit 1: Fundamentals of Economics
Economics and Choice
 Chapter 1:The Economic Way of
Thinking
 Chapter 2: Economic Systems
 Chapter 3: The American Free
Enterprise
Unit 2: Microeconomics
Market Economies at Work
 Chapter 4: Demand
 Chapter 5: Supply
 Chapter 6: Demand, Supply, and
Prices
 Chapter 7: Market Structures
Unit 3:
Types of Business Organizations
 Chapter 8: Types of Business
Organizations
Unit 4: Macroeconomics
Money and Banking
 Chapter 10: Money and Banking
Unit 5:
Measuring and Monitoring Economic
Performance
 Chapter 12: Economic Indicators
and Measurements
 Chapter 13: Facing Economic
Challenges
Unit 6:
The Role of Government in the
Economy
 Chapter 14: Government
Revenue and Spending
 Chapter 15: Using Fiscal Policy
Unit 7:
The Global Economy
 Chapter 16: The Federal Reserve
and Monetary Policy
 Chapter 17: International Trade
Unit 8:
Personal Finance
 Chapter 11: Personal Finance &
Financial Markets
CP Economics Organizer
Chapter 7: Market Structures
The Big Picture:
Perfect Competition. Most competitive, ideal model of a market economy. Monopolistic Competition. Highly competitive, distinguished by
product differentiation and non-price competition. Oligopoly. Less competitive, a few firms dominate a market. Monopoly. Least
competitive, fairly rare in a market economy. Role of Government. May allow a natural monopoly (public utilities) when one supplier can
provide a service most efficiently. Regulates utilities to protect consumers. Patents give inventors exclusive property rights over their
invention or process for a limited period of time. Results in technological monopolies. Antitrust laws promote competition by allowing
mergers that benefit consumers and blocking mergers that increase market concentration or lead to the elimination of possible
competitors.
Unit Pacing:
Homework
____– Perfect Competition
____– Read p. 192-195
____ –Imperfectly Competitive
Markets
____—Read p. 198-211
____ –Market Regulation with
Placards
____—Study Ch. 7
Vocabulary
Quiz & TEST
____- Market Regulation
Key Terms and Phrases:
(Reading Assignments)
____ – Read p. 214-218
____—Video Analysis: Walmart 1 & 2
____-- RETEACHING ACTIVITIES:
Sections 1, 2, 3 & 4
____—Chapter 7 TEST
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
Economies of scale
Deregulation
Trusts
Antitrust Legislation
Laissez-faire
Subsidies
Differentiate
Non price competition
Profits
Advertising
Oligopoly
Market share
Start-up costs
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
Monopoly
Interdependent pricing
Perfect competition
Monopolistic
competition
Imperfect competition
Market structure
Market
Price wars collusion
Collusion
Cartels
Barrier to entry
OPEC
Essentials Questions:
GPS
1. How is the market price in a perfectly competitive market related to the equilibrium price?
2. Explain the basic characteristics of monopolistic competition and pure competition.
1. SSEMI4c
3. What is the difference between regulation and deregulation?
Course Website: http://vhs.gocats.org/apps/pages/index.jsp?uREC_ID=549730&type=u&pREC_ID=826211
Show What You Know!
Milestone Practice Questions
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