ECONOMICS Course Syllabus

Transcription

1 Kenston High School ECONOMICS Course Syllabus Revision 0814 Please note this syllabus is subject to modification as necessary TEXTBOOK: Irvin Tucker and Joan Ryan - ECONOMICS AND PERSONAL FINANCE (2013) There will be reoccurring minor assignments with each UNIT including, but not limited to, vocabulary quizzes & current events. Students will be held accountable for all assigned reading, including vocabulary, whether covered in class or not. The week s lessons and assignments will be posted online and in the classroom prior to the commencement of that week s activities. Students should check my website on a regular basis. This is a Googledocs course. You will be given instructions to create a folder with your name and share that folder with me. You will submit most all assignments in that folder on the assigned due date. UNIT 1: FUNDAMENTALS OF ECONOMICS CH 1: The Free Market System CH 2: Understand Decision Making Major Assignments: Showcase Free Markets, Opportunity Cost Project, Unit 1 Test CS 1: Economists analyze multiple sources of data to predict trends, make inferences and arrive at conclusions. CS 3: People cannot have all the goods and services they want and, as a result, must choose some things and give up others. CS 4: Different economic systems (traditional, market, command, and mixed) utilize different methods to allocate limited resources. Estimated days: 6

2 UNIT 2: FREE MARKETS IN ACTION CH 3: Market Demand CH 4: Market Supply and Price Determination CH 5: Market Structure Major Assignments: Various classroom assignments, Chapter and Unit Tests CS 5: Markets exist when consumers and producers interact. When supply or demand changes, market prices adjust. Those adjustments send signals and provide incentives to consumers and producers to change their own decisions. (Also Unit 3) CS 6: Competition among sellers lowers costs and prices, and encourages producers to produce more of what consumers are willing and able to buy. Competition among buyers increases prices and allocates goods and services to those people who are willing and able to pay the most for them. Estimated days: 12 UNIT 3: BUSINESS IN ACTION CH 6: Business Organizations CH 7: Business Ownership Essential Understanding: (Also Unit 2) CS 6: Competition among sellers lowers costs and prices, and encourages producers to produce more of what consumers are willing and able to buy. Competition among buyers increases prices and allocates goods and services to those people who are willing and able to pay the most for them. Unit Test, Business Plan Assignment Estimated days: 5 UNIT 4: MONEY AND BANKING CH 8: Money and the Banking System

3 CH 9: Financial Institutions and Markets CH 10: Consumer Credit and Debt CS 12: Employee earning statements include information about gross wages, benefits, taxes and other deductions. CS 13: Financial decision-making involves considering alternatives by examining costs and benefits. CS 14: A personal financial plan includes financial goals and a budget including spending on goods and services, savings and investments, insurance and philanthropy. CS 15: Different payment methods have advantages and disadvantages. CS 16: Saving and investing help build wealth. CS 17: Savings can serve as a buffer against economic hardship. CS 20: There are costs and benefits associated with various sources of credit available from different types of institutions. CS 21: Credit and debt can be managed to maintain credit worthiness. CS 23: Property and liability insurance protect against risks associated with use of property. Unit Test, Personal Budget Project (Job, Transportation, College Loan Amortization) Estimated days: 10 UNIT 5: MEASURING ECONOMIC PERFORMANCE CH 11: Gross Domestic Product and Economic Growth CH 12: Challenges to the Free Market System

4 CS 7: A nation s overall level of economic well-being is determined by the interaction of spending and production decisions made by all households, firms, government agencies and others in the economy. Economic well-being can be assessed by analyzing economic indicators gathered by the government. CS 8: Economic policy decisions made by governments result in both intended and unintended consequences. Unit Test, PBP Rent An Apt. Estimated days: 6 UNIT 6: GOVERNMENT IN THE MACRO ECONOMY CH 13: Government Spending and Taxing CH 14: Federal Reserve and Monetary Policy CS 1: Economists analyze multiple sources of data to predict trends, make inferences and arrive at conclusions. CS 4: Different economic systems (traditional, market, command, and mixed) utilize different methods to allocate limited resources. CS 8: Economic policy decisions made by governments result in both intended and unintended consequences. Finish PBP, Two Essays Fiscal & Monetary Policy, Unit Test Estimated days: 12 UNIT 7: GLOBAL TRADE AND INVESTING CH 15: International Trade CH 16: Build Assets and Wealth CH 17: Invest for the Future

5 CS 2: Reading financial reports (bank statements, stock market reports, mutual fund statements) enables individuals to make and analyze decisions about personal finances. CS 9: When regions and nations use comparative advantage to produce at the lowest cost and then trade with others, production, consumption and interdependence increase. CS 10: Government actions, such as tariffs, quotas, subsidies, trade agreements and membership in multinational economic organizations, significantly impact international trade. CS 11: Income is determined by many factors including individual skills and abilities, work ethic and market conditions. CS 18: Different costs and benefits are associated with saving and investing alternatives. CS 19: Banks, brokerages and insurance companies provide access to investments such as certificates of deposit, stocks, bonds, and mutual funds. CS 23: Property and liability insurance protect against risks associated with use of property. CS 24: Health, disability, and life insurance protect against risks associated with increased expenses and loss of income. CS 25: Steps can be taken to safeguard one s personal financial information and reduce the risk of loss. Estimated days: REVIEW FOR FINAL EXAM (Comprehensive) Content Statement INDEX [#] = Unit Used CS 1 [1, 6]: Economists analyze multiple sources of data to predict trends, make inferences and arrive at conclusions.

6 CS 2 [7]: Reading financial reports (bank statements, stock market reports, mutual fund statements) enables individuals to make and analyze decisions about personal finances. CS 3 [1]: People cannot have all the goods and services they want and, as a result, must choose some things and give up others. CS 4 [1, 6]: Different economic systems (traditional, market, command, and mixed) utilize different methods to allocate limited resources. CS 5 [2]: Markets exist when consumers and producers interact. When supply or demand changes, market prices adjust. Those adjustments send signals and provide incentives to consumers and producers to change their own decisions. CS 6 [2, 3]: Competition among sellers lowers costs and prices, and encourages producers to produce more of what consumers are willing and able to buy. Competition among buyers increases prices and allocates goods and services to those people who are willing and able to pay the most for them. CS 7 [5]: A nation s overall level of economic well-being is determined by the interaction of spending and production decisions made by all households, firms, government agencies and others in the economy. Economic well-being can be assessed by analyzing economic indicators gathered by the government. CS 8 [5, 6]: Economic policy decisions made by governments result in both intended and unintended consequences. CS 9 [7]: When regions and nations use comparative advantage to produce at the lowest cost and then trade with others, production, consumption and interdependence increase. CS 10 [7]: Government actions, such as tariffs, quotas, subsidies, trade agreements and membership in multinational economic organizations, significantly impact international trade. CS 11[7]: Income is determined by many factors including individual skills and abilities, work ethic and market conditions. CS 12 [4]: Employee earning statements include information about gross wages, benefits, taxes and other deductions. CS 13 [4]: Financial decision-making involves considering alternatives by examining costs and benefits. CS 14 [4]: A personal financial plan includes financial goals and a budget including spending on goods and services, savings and investments, insurance and philanthropy. CS 15 [4]: Different payment methods have advantages and disadvantages.

7 CS 16 [4]: Saving and investing help build wealth. CS 17 [4]: Savings can serve as a buffer against economic hardship. CS 18 [7]: Different costs and benefits are associated with saving and investing alternatives. CS 19 [7]: Banks, brokerages and insurance companies provide access to investments such as certificates of deposit, stocks, bonds, and mutual funds. CS 20[4]: There are costs and benefits associated with various sources of credit available from different types of institutions. CS 21 [4]: Credit and debt can be managed to maintain credit worthiness. CS 22 [4]: Consumer protection laws provide financial safeguards. CS 23 [7]: Property and liability insurance protect against risks associated with use of property. CS 24 [7]: Health, disability, and life insurance protect against risks associated with increased expenses and loss of income. CS 25 [7]: Steps can be taken to safeguard one s personal financial information and reduce the risk of loss.