Dear Students and Families,

Welcome to Economics! This is a required course under the guidelines of the State of California and serves as a comprehensive examination of the way our market economy operates. Throughout the course, you will learn about the principles and values our economy is built upon, with a specific emphasis on scarcity, comparative economics, supply and demand, labor and employment and macroeconomics. Throughout this course, measurement concepts and methods should be introduced; for example, tables, charts, graphs, ratios, percentages, and index numbers. Behind every graph is an equation or set of equations that specifies a relationship among economic variables. Thus, to master the economic method, students must use graphs and understand, at the appropriate level, the mathematical equations they represent.

Textbook:Economics: Principles in Action, Steven M., Sheffrin and Arthur O’Sullivan, Prentice Hall,

New Jersey, 2001

Attendance Policy:

Regular attendance is absolutely necessary in this class. You will not pass this course if you do not attend. Please take note of the school-adopted attendance policy.

If you are absent and it is excused, it is your responsibility to get any work you missed. You have the same number of days to make up the work as you were out.

You will lose points each time you are tardy. Be a good classroom citizen and come to class on time.

Grading Policy:

●In this class you will be assessed on a point scale. Your final grade is determined by the number of points you earn compared to the number of points possible.

●Assignments will consist of homework, class work, quizzes, tests, projects and several essays. (Remember: you must pass this class to graduate!)

Homework and Class work policies:

Homework will be assigned several times a week, depending on the unit being studied. I expect it to be complete and turned in on time.

Late work is not accepted under any circumstance, except for absences.

●You need to bring the appropriate classroom materials to school each day. These include your economics composition book, paper, folder, different colored pens and pencils. Points will be deducted for students that come to class unprepared.

Social Responsibility Guidelines:

Be PunctualArrive early and be in your assigned seat when the bell rings

Be PreparedOrganize and bring all required materials to class everyday.

Use the restroom before or after class.

Be ProductiveStay on Task, in your seat and always take pride in your work.

Be ProceduralFollow all class and school policies, procedures and rules.

No food, drink, gum, or electronic devices in class. (Water allowed)

Be PoliteRespect people, property, and the community. No inappropriate language.

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I have read and understand the materials and policies related to this course:

Student Signature: ______Parent Signature:______

Comments:

Hemet Unified School District Economics Course Outline

Instructor: Mr. Awbrey / May Course be repeated for Additional Credit? No
Course Title: Economics / Length of Course: One Semester
Recommended Grade Level: 12 / Course required for Graduation: YES
  1. Unit One- Introduction to Economic Reasoning (CA Standard 12.1)

(Chapters 1,2,3)

  1. The relationship between scarcity and choice
  2. Opportunity Cost and Marginal Analysis
  3. Incentives and behavior
  4. Role of private property in conservation
  5. Role of market in liberty, with emphasis on Adam Smith’s work
  1. Unit Two- The Market Economy (CA Standard 12.2)

(Chapters 4,5,6,7,10,11)

  1. Incentives and the laws of supply and demand
  2. Effects of supply, demand and relative scarcity determine price
  3. Profit motive and regulatory role of competition
  4. The function of price in allocative efficiency (without shortages and surpluses)
  5. How competition in differing market structures affect prices
  6. Effects of price controls in creating shortages and surpluses
  7. How international trade has influenced the market system
  8. Functions of financial markets
  1. Unit Three- Business and the Labor Market (CA Standard 12.4 and 12.2)

(Chapters 8,9)

  1. The effects of Unionization and the market for labor
  2. Current labor market and skill requirements for the future
  3. Wage determinants in the labor market
  4. The impact of mobile labor and capital on the U.S. economy
  1. Unit Four- Government and the Economy (CA Standard 12.3)

(Chapters 14,15,16)

  1. The role of government regulation and spending choices
  2. Factors that cause some government decisions to defy marginal analysis (costs outweigh benefits)
  3. The goals and tools of fiscal policy
  4. The goals and tools of monetary policy
  1. Unit Five- Macroeconomics (CA Standard 12.5)

(Chapters 12,13)

  1. Distinguish Real (price adjusted) and nominal data
  2. Understand the unemployment rate, GDP growth, and price indexes
  3. The role of interest rates as the price of money
  1. Unit Six- Global Development and International Trade (CA Standard 12.6)

(Chapters 17 and 18)

  1. The impact of increased global trade in increasing standards of living
  2. The political debate around free trade and Depression-era trade restrictions
  3. International development in a world economy (with emphasis on GATT, UN, World Bank, IMF, NAFTA and the EU)
  4. International exchange and the value of the dollar relative to foreign currencies