This is a one semester course that will introduce students to the basic tools of both microeconomic and macroeconomic analysis. Microeconomics deals with consumers, firms, markets, income distribution and personal finance and budgeting. Macroeconomics deals with national income, employment, inflation, money and the government's role in the economy. Successful completion of this course is required for graduation.
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1. I can understand the concept of scarcity and its role in decision-making
2. I can identify and give examples of the factors of production.
3. I can list and explain tradeoffs and identify the opportunity cost when making decisions.
4. I can think like an economist by explaining economic enigmas.
5. I can identify and explain how each economic system answers the 3 fundamental economic questions as well as the advantages and disadvantages of each system.
6. I can identify major characteristics of a free enterprise (market-based) system.
7. I can identify side effects of production and consumption in a market economy
8. I can list and evaluate the roles of the government in a market economy.
9. I can create, read, and interpret a production possibility graph (PPF model)
Unit 2: How do you know when the price (and quantity) is right? (Supply & Demand)
I can use the law of demand to explain consumer behavior.
2. I can identify all the factors that lead to shifts in demand.
3. I can use the law of supply to explain producer behavior.
4. I can identify all the factors that lead to shifts in supply.
5. I can explain the determination of equilibrium prices by applying principles of supply and demand to markets for goods and services.
6 . I can illustrate and explain the effect on price and quantity when supply or demand shifts in a market.
7. I can identify direct and indirect effects of price floors and ceilings.
Unit 3: What's the government got to do (got to do) with it? Measuring & Managing The Economy
1. I can identify and explain economic indicators such as GDP, unemployment, and CPI.
2. I can use economic indicators to explain conditions of depression, recession, and expansion.
3. I can explain the two tools the Federal Government uses for contractionary and expansionary fiscal policies (Fiscal Policy).
4. I can explain the structure of the Federal Reserve and the three tools used for tight money and easy money policies (Monetary Policy).
5. I can predict and evaluate the impact of fiscal and monetary policy actions.
6. I can explain how the government generates revenue and makes spending decisions.
Unit 4: Unit 4: Anybody Wanna Trade in our Global Economy
Unit 4 Learning Targets
1. I can explain why countries trade using the concepts of comparative and absolute advantage.
I can explain why certain goods or services are produced in a particular nation, region, and locale as a result of absolute and comparative advantage.
I can describe how comparative advantage creates gains from trade.
I can explain how specialization can lead to a strong economy and higher standard of living.
2. I can evaluate the impact of trade on foreign and domestic markets.
3. I can identify and evaluate the costs and benefits of globalization
Unit 5: Be the Boss of your Economic Future (Personal Finance)
Unit 5 Learning Targets
1 Saving – I can identify the incentives people have to set aside income for future consumption, and evaluate the impact of time, interest rates, and inflation upon the value of savings.
2 Using Credit – I can evaluate the benefits, costs, and potential impacts of using credit to purchase goods and services.
3 Financial Investing – I can analyze the risks, expected rate of return, tax benefits, impact of inflation, role of government agencies, and importance of diversification when investing in financial assets.
Instructor will provide daily, live instruction and also a mix of independent and on demand learning options, in a structured, virtual classroom setting. Students are expected to regularly check school email, reply accordingly, and schedule meetings with instructors, as needed, during on demand time.