Available Everyday Before School and Other Times by Appointment

Economics

Summer 2012

Mr. Matt Baier

858-523-4000 x1211

Available everyday before school and other times by appointment.

Economics 1642 Course Description:

Students will master fundamental economic concepts, apply the tools (graphs, statistics, equations) from other subject areas to the understanding of operation and institutions of economic systems. Studies in a historic context include basic economics, concepts, comparative economic systems, economic decision-making, measurement and methods.

Essential Learning Questions:

•How can you think like an economist?

•Why can't you always get what you want?

•Who or what decides what you get?

•How does trade make people better off?

•What are demand and supply, and what factors influence them?

•How do you know when the price is "right"?

•What happens when markets do not work perfectly?

•How should you spend, save, and invest your money?

•How do entrepreneurs use their resources to start businesses?

•Why is it important to develop your human capital?

•How should the US government carry out its economic roles?

•Who and what should be taxed?

Essential Learning Outcomes:

•Students investigate the tools and principles economists use to make sense of the world.

•Students examine how scarcity requires people to make decisions that involve tradeoffs and opportunity costs.

•Students learn about traditional, command, market, and mixed economies, as well as the characteristics of the American free enterprise system.

•Students examine how individuals and groups benefit when they specialize in producing and trading the goods for which they hold a comparative advantage.

•Students learn about market demand and supply and are introduced to market curves and the concept of elasticity.

•Students experience how demand and supply determine price in a competitive market.

•Students identify and apply the characteristics of market structures--perfect competition, monopoly, oligopoly, and monopolistic competition--to industry case studies.

•Students explore the financial institutions related to spending, saving, and investing.

•Students learn about the role of entrepreneurs in creating businesses and investigate the major forms of business organizations.

•Students examine trends in today's labor market, factors that influence wages, and the importance of investing in human capital.

•Students identify and evaluate the economic roles of the United States government.

•Students examine types of tax bases and structures to evaluate who and what should be taxed.

Materials:

TCI, Econ Alive! The Power to Choose

iPad (charged and ready for use everyday)

headphones

blue or black pen

pencil

Grading:

American Government is a 4-point course: “A”=4, “B”=3, “C”=2, “D”=1, and “F”=0.

97-100%=A+ 87-89%=B+ 77-79%=C+ 67-69%=D+

93-96%=A 83-86%=B 73-76%=C 63-66%=D

90-92%=A- 80-82%=B- 70-72%=C- 60-62%=D-

The following weight scale will be used:

HW/Classwork/Presentations 55%

Tests/Quizzes 25%

Final Exam (Multiple Choice and Essay) 20%

Total 100%

Policy on make-up work:

Late work is accepted but the student will earn no more than half credit for late assignments.

Student Expectations:

All students are expected to treat each other and the teacher with respect. Part of showing respect is being prepared each day to learn, being on time, and being willing to participate in class. Students are expected to follow all rules outlined in the student handbook. All rules will be enforced, including dress code.

Absences:

See Student Handbook for absence policy

Plagiarism/Cheating:

Plagiarism and/or cheating (including copying another student’s assignment) will not be tolerated. If this occurs, the student handbook policies will be followed. At the very least student(s) will receive an automatic zero on the assignment.

Course Overview:

(Order subject to change)

Unit 1 The Economic Fundamentals

An Economic Way of Thinking

Economic Decision Making

Economic Systems

Gains from Trade

Unit 2 How Markets Work

Demand and Supply

Markets, Equilibrium, and Prices

Market Structures and Market Failures

Unit 3 Economic Institutions and Organizations

Money, Banking, Saving, and Investing

Entrepreneurs and Business Organizations

Human Capital and the Labor Market

Unit 4 Economics and the Public Sector

Government and the Economy

Taxes and Taxation