Economics. Course Syllabus Coach Westbrook Room:

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1 Economics Course Syllabus Coach Westbrook Room: COURSE PURPOSE Economics curriculum at Mabank High School follows State of Texas mandated curriculum that emphasizes the Free Enterprise system that is a part of the United States way of life. The principal focus of the course concerns the basics ideas concerning production, consumption, and distribution of goods and services in the United States. It also includes comparative study of the US economy as it relates to that of other countries. Students examine the rights and responsibilities of consumers and businesses, the interaction of supply, demand, and prices and the roles of financial institutions and the government operated in a free enterprise economy. Students will also examine economics as it applies to personal finance, business ownership and consumers. Project Requirements Each student will turn in three major projects during the semester. The instructions for these projects are included in this packet. Each project will be worth two test grades, and you will have ample time to complete each project after it is assigned. WARNING: IF YOU DO NOT TURN IN THESE PROJECTS, YOU WILL NOT PASS THE CLASS!!! Grading Policy: Daily work (class assignments and homework) = 50% Tests (includes all tests and projects) = 50% My Expectations and Procedures 1. Be on time to class every day 2. Follow directions - give me your full attention & cooperation for the entire class period. 3. Be involved in class: be prepared to answer questions, give opinions and participate in all activities. 4. Come to class every day with the necessary supplies 5. Turn in all assignments on their due date 6. You are responsible for your make up work when you are absent you Will have one class day to turn in make-up work 7. Know and follow the attendance and tardy policy Bottom Line: You are now entering your last year of high school. It is your responsibility to be accountable for your actions. You need to stay informed of your assignments, due dates, and requirements. Reading and following directions will be the key to your success. IN RETURN, YOU CAN EXPECT THAT I WILL: treat you as a young adult who desires a quality education

2 treat you in a fair, consistent and impartial manner. give you reasonable time to complete all written work assigned. give assistance when needed, in class, and before or after school. support your pursuit of education beyond BHS This is YOUR last year at MHS. Let s work together to make this a positive experience. If you have any questions or concerns, please come and speak with me as soon as they arise.

3 WORLD GOVERNMENT PROJECT This project will accompany student s study over the economic systems that are found in the world. The project is broken down into several steps: I. Cover sheet must have flag of the 3 countries focused on; one picture of an economical life aspect from each country; your name and class period. II. Define market economies, command economies, and developing economies. III. Compare one country with another by reference to factors associated with economic performance use the US for your marker economy, North Korea for your command economy, and Chad for your developing economy. IV. Complete the following table by cutting and pasting onto a new page and then typing in answers

4 Geography United States North Korea Chad Available Natural Resource % of arable lands People Birth Life Expectancy Fertility Rate Literacy Rate Government Leaders Elected Government Spending Military Spending Economy Serious Economic problem Population in poverty Labor force divisons Primary industry Primary agriculture Industrial production rate Electricity production Telephone service Internet service Railways Paved highways Paved runway airports

5 V. Answer the following questions 1. How can the presence or absence of natural resources and arable land affect a nation s economy, regardless of the type of economic system? 2. How can life expectancy and literacy rates affect the quality of labor in the economy? 3. How can fertility rates affect the use of scarce resources? 4. How can GDP per capita and poverty rates indicate standards of living in each system? 5. How can the size of the industrial/service sector and the agriculture employment rate indicate the level of industrialization? 6. How can electricity, communication, and transportation facilities indicate the potential for industrial growth? 7. Considering the lack of natural resources, the labor problems, and the lack of capital and little industrialization of developing countries, how can developing countries develop? RUBRIC: Cover Page 25 points Definitions and Comparisons 25 points Table 25 points Information Questions 25 points ***THIS ASSIGNMENT COUNTS TWO TEST GRADES***

6 Supply and Demand Story Project Background Every business goes through tough times, but potentially, if they know what they re doing, they have profitable times as well. If a business understands how supply and demand work, they can survive the craziness of a market economy. The problem is that most businesses can be affected by demand and supply shifters that are both in and out of their own control. Your task Using an existing business, or create your own fictional business, and write a creative short story detailing how that business is affected by as many supply and demand non-price determinants as possible. Example Your business might have a great advertising campaign (describe it), but then there is a snow storm that knocks out its electricity, so its cost of production increases. Just when it s getting itself back together, some kids in Nashville, Tennessee think it s cool to start using your business name as a joke on Twitter, it catches on all over the country, and now people think your products aren t as good, just because the trends changed. But you hire some very effective market researchers, who figure out how to advertise your products in Singapore and boom! You increase your market size by selling to Singaporeans. Criteria You MUST use a minimum of 3 demand non-price determinants, 3 supply non-price determinants, and one scenario that will move the good or service along demand or supply curve. For every additional determinant you use, you get a bonus of 3 points. You ONLY get the full amount of points if you correctly use the determinants. If your understanding of it is incorrect, you will receive no points. You must have every name of a supply and demand non-price determinant in bold font.

7 Your story must also have a clear beginning, middle, and end. It should have all the parts of a short story: exposition, rising action, climax, falling action, resolution. DEMAND NON-PRICE DETERMINATES Branding Market Size Demographics Seasonality Available Income Complementary Goods Future Expectations SUPPLY NON-PRICE DETERMINANTS Production Costs Technology Number of Sellers Expectations of Future Prices Price of Related Goods Government Intervention Rubric: Cover sheet with company logo 25 points Business set up and description 25 points Use of determinants 25 points Demand and Supply Curve 25 points ***THIS PROJECT COUNTS AS TWO TEST GRADES***

8 PERSONAL BUDGET PROJECT The objective of this project is for you to set up a budget that would allow you to live the type of life you would like, as well as to understand what skills and/or education you need to get there. This will include finding a house, finding a car, developing a budget, and finding a career that would match your income needs. This project does involve doing some calculations and setting up a budget on Excel, but it's main purpose is to allow you to have fun dreaming of the future while realizing what these dreams may cost. I also hope you observe certain iron realities about work and what it takes to be a successful adult in Texas today. It is not easy. It takes lots of money! You will be required to set up a monthly budget. You will be required to set up your budget on Excel, and then get your information off the internet, noting the sites that you used. The preparing of the budget will include you finding out what type of careers will provide you with the necessary income, and how much education is needed for such a career. This project consists of two steps: first, you will construct a budget according to a job you are assigned by your teacher; and, secondly, you will - within limits and with teacher approval - select your own career. No matter what your job might be, you must construct a working budget with costs less than expenses. No matter what job you have you must first deal with your housing. You will need to find a house or apartment that you can afford. You can have roommates, if you need help in covering the monthly rent or mortgage. Next, you must find a car or other type of transportation, and then set up a budget. Then you must fill out the worksheet, and print it out. You will also have incidentals utilities, groceries, insurance, and different variables as well these costs must also be figured in in your budget worksheet. The project will be completed and turned in in a brad folder you will print out all of the information, and then attach it into the folder. All of the worksheets and spreadsheets that you will need are found below. The rubric for this assignment are as follows: RUBRIC: CAREER INFO 25 POINTS HOUSE INFO 25 POINTS CAR INFO 25 POINTS COMPLETED BUDGET INFO 25 POINTS ***THIS PROJECT IS WORTH ONE TEST GRADE***

9 PERSONAL BUDGET PROJECT WORKSHEET Name: Date: Period: DIRECTIONS: Please answer the following questions as directed on the Personal Budget project. Finding a Career: Which occupation did you choose? Why? How much will you make per year? How much education will you need? Finding a House: Where is the house? How much does it cost? Which Website did you use? What income would you need to afford the house? Finding a Car: What type of car? How much does it cost? Which website did you use? What income would you need to afford the car?

10 Calculating Your Budget Use the higher of the two above incomes while calculating your budget. Please use the percentages given to determine your monthly budget. (Note: the percentages given are not necessarily a typical or recommended budget.) Housing: 28% Automobile: 12% Utilities: 5% Taxes: 16% Food: 18% Savings: 5% Entertainment: 5% Misc./Other: 11%

11 Budget For: Income Monthly Yearly Net Paychecks. Other Incomes. TOTAL INCOME. Expenses Fixed Expenses TOTAL Fixed. Expenses Variable Expenses TOTAL Variable. Expenses TOTAL Fixed & Variable Expense. CASH SURPLUS (total income minus total expenses.. Allocation of Surplus Total Expenses Plus Surplus

12 PERIODS DATES UNIT TEKS RESOURCES INTRO. WEEK CLASS, 5B-D, 6A- 1 8/15-17 PERSONAL, VIDEO B,14B 2 8/20-24 WORL ECO SYSTEMS 5B-C,6A-B CHAPTER 2/ 3 3 8/27-31 CAPITALISM 14B, 15A, 16A CHAPTER 8 4 9/4-7 LABOR DAY BUSINESS ORGANIZATION 5 9/10 14 EXAM 2C, 6A-B, 5E CHAPTER 4 6 9/17-21 DEMAND 2C,3C,11A,14B CHAPTER 5 MAJOR ASSIGNMENTS START WORLD ECO PROJECT WORL ECO PROJ. DUE 7 9/24-28 SUPPLY 5A, 5C, 6A, CHAPTER /1-5 PRICE BEGIN SUP/DEM. PROJ 9 10/9 12 MONDAY OFF SCARCITY 1A-B, 6B- C,10A CHAPTER 1 END OF 9 WEEKS 1 10/15-19 DEMAND TEST REVIEW EXAM 2 10/22-26 LABOR UNIONS 9B,14B-C,16C CHAPTER 9 SUP/DEM PROJECT DUE 3 10/29 11/2 INVESTING 7A, 8A,17A-D CHAPTER 11 ASS. BUDJ. PROJ. 4 11/5 8 FRIDAY OFF 6D,12A-C,13C- CHAPTER CREDIT D 10, /12 11/16 BANKING 6D,12A-C,13C- D CHAPTER 10, / D,12A-C,13C- CHAPTER INSURANCE D 10,16 EXAM 7 12/3 7 - STAAR TAXES 14A, 15A CHAPTER 14 EXAM REVIEW, PROJECT, 8 12/11 14 EXAM PROJECT, EXAM 9 12/17 19 FINAL ASSIGNMENT END OF SEMESTER SEMESTER 2 1 1/7-11 INTRO. WEEK CLASS, PERSONAL, VIDEO 5B-D, 6A- B,14B 2 1/14 18 WORL ECO SYSTEMS 5B-C,6A-B CHAPTER 2/ 3 3 1/ MONDAY OFF CAPITALISM 14B, 15A, 16A CHAPTER 8 4 1/28 2/1 BUSINESS ORGANIZATION 5 2/4 8 EXAM 2C, 6A-B, 5E CHAPTER 4 6 2/11 15 DEMAND 2C,3C,11A,14B CHAPTER 5 START WORLD ECO PROJECT WORL ECO PROJ. DUE 7 2/19 22 MONDAY OFF SUPPLY 5A, 5C, 6A, CHAPTER 6 8 2/25 3/1 PRICE BEGIN SUP/DEM. PROJ 9 3/4 8 SCARCITY 1A-B, 6B- C,10A CHAPTER 1 END OF 9 WEEKS 1 3/18 22 DEMAND TEST REVIEW EXAM 2 3/25 28 FRIDAY OFF LABOR UNIONS 9B,14B-C,16C CHAPTER 9 SUP/DEM PROJECT DUE 3 4/1-5 INVESTING 7A, 8A,17A-D CHAPTER 11 ASS. BUDJ. PROJ. 4 4/8 12 STAAR 6D,12A-C,13C- CHAPTER CREDIT D 10,16 5 4/15 18 FRIDAY WEATHER DAY OFF BANKING 6D,12A-C,13C- D CHAPTER 10,16 6 4/23 26 MONDAY WEATHER DAY OFF INSURANCE 6D,12A-C,13C- D CHAPTER 10,16 EXAM 7 4/29 5/3 TAXES 14A, 15A CHAPTER 14 EXAM REVIEW, PROJECT, 8 5/6 10 STAAR EXAM 9 5/13 17 STAAR FINAL ASSIGNMENT PROJECT, EXAM 10 5/20 24 GRADUATION WEEK END OF SEMESTER

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