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WARRIOR RUN SCHOOL DISTRICT
WARRIOR RUN HIGH SCHOOL
SOCIAL STUDIES DEPARTMENT
ECONOMICS
11 AND 12TH GRADE
CURRICULUM
TH
PREPARED BY:
RICHARD T. NORNHOLD, JR.
REVISED MAY 29, 2007
INTRODUCTION
Economics
Scope:
This is a semester social studies course intended to introduce students in
11 and 12th grade to the field of macro-economics. The major emphasis of
the course will be on the American Economic System. There course will
concentrate on four major areas. These areas are:
th
1. Economic Theory
2. Consumerism
3. Managing the Nations Economy
4. The Stock Market
Sequence:
1. Economic Theory – 6 Weeks
2. The Role of the Consumer in the American Economy -3 Weeks
3. Managing the Nation’s Economy – 6 Weeks
4. The Stock Market – 3 Weeks throughout course
Course Activities:
1. Class Lecture Presentations
2. Group Discussions
3. Activity Sheets from Textbook resource guide
4. Stock Market Game (Economics Pa.)
5. Use of Newspapers – Daily Item and The Wallstreet Journal
6. Overhead transparencies, videos, classroom simulations
Expected Levels of Achievement:
1. All students will keep a journal containing notes, quizzes,
written assignments, outside readings and research.
2. All students are expected to complete all reading and
written assignments on time, and to participate in all class
discussions, activities, and simulations.
3. All students will maintain an 80% or better average.
4. All students are expected to take notes and maintain a well
organized notebook.
5. Each student is expected to behave in a manner appropriate
to the classroom, and to be on time and to accept responsibility
for making up all work missed due to absences.
6. All students are expected to be aware of current events and how
they impact on the American Economy.
Methods of Evaluation:
1. Class participation as the result of teacher-led questioning and
discussions.
2. Quizzes and tests which will be give approximately once per week.
3. Research reports and class presentations.
4. Student worksheets.
5. Participation in the Stock Market Game.
Resources:
1. Textbook: Economics
2. Internet: Stock Market Game and Blended Schools
3. Library and Computer Labs
4. Newspapers
Economics
Course Content:
I. Economic Theory
Objectives for Section I
1. Define basic economic terms used by economists and the types of
economic systems that exist.
2. Explain the importance of economics in our lives and the work of
economists.
3. Discuss the questions that must be answered by all economic systems.
4. Understand the characteristics of the American Economy
5. Show an awareness of conflicts that exist as our nation tries to meet
its economic goals.
6. Read and explain graphs and charts as they relate to the study of
economics.
7. Understand the dynamics of competition and the danger of monopolies in a free market.
Content for Section I (Objectives to be met)
A. Introduction to Economics (1,2,6)
1. What is economics?
2. What are economic trade-offs
3. What is the work of economists
B. Economic Systems and the American Economy(3,4,5,7)
1.
2.
3.
4.
Four questions all systems must answer
Types of economic systems
Characteristics and goals of the American Economy
Conflicts among national goals
C. Supply and Demand(1,4,5,7)
1. Law of Demand
2. Law of Supply
3. Supply and demand together
a. reading graphs and charts
b. supply and demand curves
D. Competition and Monopolies (1,3,4,5,7)
1. Pure competition
2. Pure monopoly
3. Oligopoly
II. The Role of the Consumer in the American Economy
Objectives for Section II
1. Explain the relationship of consumption to income
2. Discuss the consumer movements in America and their
impact on the economy today.
3. Understand the use of credit in our society
4. Identify various types of loans and the cost of credit
5. Explain the differences between necessities and wants
6. Understand the importance of savings and the various
vehicles of investment.
Content for Section II (Objective to be met)
A. The Consumers Role (1,2,3,4,5)
1. Consumption and income
2. Buying principles
3. The Consumer Movement
B. Consumer Debt (1,3,4,5)
1. Credit
2. Where to get loans
3. The cost of credit
C. The Necessities(1,5)
1. Food and clothing
2. Housing and transportation
D. Saving and Investing(3,4,6)
1. Importance of saving
2. Types of investing
a. savings plans
b. bonds
c. stocks
d. other types of investments
3. Retirement saving and tax deferment
a. IRA’s
b. Roth IRA’s
c. 403b and 501k
III. Managing the Nation’s Economy
Objectives for Section III
Students will be able to:
1. Read statistics and graphs related to the nations economic
performance
2. Define terms related to measuring our economic performance
3. Identify the stages of the Business Cycle
4. Explain the causes of the Business Cycle
5. Understand various economic indicators
6. Discuss the types and functions of money
7. Identify different types of banking services
8. Explain the organization and functions of the Federal Reserve
System
9. Identify the enemies of our economy
10.Explain why the government is involved in the economy
11.Discuss why the economy must grow
12.Understand fiscal policy and monetary policy
13.Show an awareness of recent economic changes
Content for Secion III (Objectives to be met)
A. The GNP and economic statistics(1,2,11)
B. The Business Cycle (2,3,4,5,9,11,12)
1. Phases of the business cycle
2. Causes of the business cycle
3. Indicators of the health of the economy
C. Government’s goals (9,10,11,12)
1. Maximum production
2. Maximum purchasing power
D. Enemies of the economy (11,12,13)
1. Inflation
2. Unemployment
E. The Federal Reserve System (2,3,4,5,6,7,8,9,12,13,14)
1. Monetary Policy
2. Organization and role of the Federal Reserve System
F. Government and the Economy (2,3,4,5,9,10,11,12,13,14)
1.
2.
3.
4.
Types of taxes
Growth of the government and budget
The National Debt
Fiscal Policy
G. The Changing American Economy(10,13,14
1.
2.
3.
4.
Globalization
Industry and Agriculture
The information industry
Foreign trade
IV. The Stock Market (see previous three sections for objectives)
A. The Stock Market Game
B. Investment Goals
1. Starting out in life
2. Investing for retirement
C. Types of stocks
D. Reading the financial pages
1. How to read the financial pages
2. Practice reading the financial pages