Principles of Economics

Mrs. Amanda Gondek– Room 2310

Team Teacher: Coach Guy Clarke

Course Description: Economics is all about making rational choices. Each day we weigh options and make decisions. This course looks at how individuals, corporations and governments make choices. The primary principles of economics that we will address are: fundamental concepts, microeconomics, macroeconomics, free enterprise, governmental economic policy, international economics and personal finance. This class moves quickly. You will have homework every night. You will not graduate without this course. Summer school is $275 per .5 credit. Incentives matter. This subject matter impacts the REST of your LIFE…just ask your parents. Let’s get started.

Textbook: Economics: Principles in Action by Prentice Hall ($51.47)

Supplies needed every day:

Textbook

Pen or Pencil

Colored Pencils or Markers

2 Packs of index cards (We will be using these for vocab. My sample will have 5 colors- neon pink, neon yellow, neon orange, neon green and blue. You may use your own system for color coding if you wish)

1 2-inch book ring (I will try to provide these, but would love donations if you are able)

3 ring binder (size is up to you)

Activator: Class begins when you walk into the classroom. Find the activator on the board and begin working.

Notebook: You need one. The purpose of this class is to prepare you for college and the “real world” as well. To survive in either of those elements you must be organized and know where important documents are. Therefore, I ask that you have a notebook (at least one inch, three-ring binder, not a spiral notebook) and you bring it with you each day. Notebook assignments will be collected on the day of the test.

Projects: We will have multiple projects during the span of this course. Some will be made for individual work and others will require group work. You will receive advance notice for all these assignments.

Cheating: Academic dishonesty is a form of disrespect to your classmates, yourself, and me. Cheating of any form will not be tolerated, and will result in an automatic zero for the assignment and a referral. If any further instances occur, the school policy will be applied.

Grading:

All grades will be weighted as follows:

Summative

  • 20% EOC
  • 40% tests
  • 20% writing and projects

Formative

  • 10% Homework and Classwork
  • 10%Quizzes

How do I “get an A”? Come to school, pay attention, contribute in class, do your work. You have many support systems – the blog, Remind, Quizlet, meaningful standards-based creative assignments, etc. You have to really try hard to not do well in this class – don’t be that guy.

Attendance: In order to effectively learn and follow the material, you must be present in class. It can be very difficult to play catch up, so try to come to school whenever it is humanly possible. See the cow!

Teamwork: You will have a seating chart in this class. The person sitting next to you is your partner. Once you understand a concept, it is your job to help others.

Make Up Policy: My policy coincides with that of the school. You may make up all types of work within two days of the missed assignment, if your absence is excused (you can find all excusable absences in your handbook). FYI, make up tests will be different versions, and the taker will not be eligible for the curve or use of bonus points. If you happen to miss a make up test, you will automatically receive a zero for that grade. With that being said, I am not responsible for hunting you down and endlessly reminding you to do your missed work…it is your responsibility! You can/should get all the information about a missed assignment from a classmate or me.

My Restroom Policy: If you need to go, you can go. Please do not abuse this privilege. You must use your school agenda.

Tardy Policy: When the bell rings, you should be seated in my class. If you are not in class at that time, than you are tardy. Do not knock on the door if it is shut, you will not be admitted simply by giving me a sad-puppy face.

What’s Allowed/Not Allowed in the Classroom:

  • Food/Drink: Water with a lid is allowed.
  • Cell Phones: For instructional use. Prior permission required. Make sure the sign is green.
  • Chewing Gum – Yes, but no massive bubbles please…to distracting.
  • Sleeping – Come on, it is not that hard to stay awake!

Three Important Rules:

1.)Be on time and prepared, in other words be responsible

2.)T.H.I.N.K

3.)Clean up after yourself.

Respect: This includes various things such as:

-Not making fun of your classmates

-Not saying out loud, “this is boring” or “I don’t like this assignment”

-Not swearing. This has become a pet peeve of mine. Just because you think it is cool to say, does not mean others wish to hear it.

If Rules are Broken: The first offense will result in a warning. The second time will be a detention and a call home. The third time…let’s not even go there. Detentions may be served on Tuesdays- you may choose 7:45-8:05 or 3:45-4:05.

Course Outline: This course will be taught over 45 days. We will have to move very quickly in some areas and spend a little more time in others. Our plan for the course, including applicable standards, is the following organized chronologically. Test dates are approximate and subject to change if needed.

Unit 1: Introduction to Economics (Test- 8/18)

SSEF1 The student will explain why limited productive resources and unlimited wants result in scarcity, opportunity costs, and tradeoffs for individuals, businesses and governments.

SSEF2 The student will give examples of how rational decision making entails comparing the marginal benefits and the marginal costs of an action.

SSEF3 The student will explain how specialization and voluntary exchange between buyers and sellers increase the satisfaction of both parties.

SSEF4 The student will compare and contrast different economic systems and explain how they answer the three basic economics questions of what to produce, how to produce and for whom to produce.

SSEF5 The student will describe the roles of government in a market economy.

SSEF6 The student will explain how productivity, economic growth, and future standards of living are influenced by investment in factories, machinery, new technology, and the health, education and training of people.

Unit 2: Microeconomics (Test- 9/22)

SSEMI1 The student will describe how households, businesses and governments are interdependent and interact through flows of goods, services, and money.

SSEMI2 The student will explain how the Law of Demand, the Law of Supply, prices, and profits work to determine production and distribution in a market economy.

SSEMI3 The student will explain how markets, prices and competition influence economics behavior.

SSEMI4 The student will explain the organization and role of business and analyze the four types of market structures in the US economy.

Unit 3: Macroeconomics International Economics (Test- 10/19)

SSEMA1 The student will illustrate the means by which economic activity is measure.

SSEMA2 The student will explain the role and functions of the Federal Reserve System.

SSEMA3 The student will explain how the government uses fiscal policy to promote price stability, full employment, and economic growth.

Unit 4: International Economics (Test- 11/2)

SSEIN1 The student will explain why individuals, businesses and governments trade goods and services.

SSEIN2 The student will explain why countries sometimes erect trade barriers and sometimes advocate free trade.

SSEIN3 The student will explain how changes in exchange rates can have an impact on the purchasing power of individuals in the United States and in other countries.

Unit 5: Personal Finance (Test- 11/17)

SSEPF1 The student will apply rational decision making to personal spending and saving choices.

SSEPF2 The student will explain that banks and other financial institutions are businesses that channel funds from savers to investors.

SSEPF3 The student will explain how changes in monetary and fiscal policy can have an impact on an individual’s spending and saving choices.

SSEPF4 The student will evaluate the costs and benefits of using credit.

SSEPF5 The student will describe how insurance and other risk-management strategies protect against financial loss.

SSEPF6 The student will describe how the earnings of workers are determined in the marketplace.

EOC- May 2nd-3rd