Economics Schedule:
1st Quarter
Unit 1: The Economic Fundamentals
1. An Economic Way of Thinking
Essential Question: How can you think like an economist?In a Writing for Understanding activity, students analyze, create, and explain economic enigmas using the principles of economic thinking.Why Teach This Lesson?
2. Economic Decision MakingEssential Question: Why can't you always get what you want?
In a Social Studies Skill Builder, students play the Economics is Everywhere game to identify goods and services, factors of production, and the tradeoffs and opportunity costs of economic decisions.Why Teach This Lesson?
3. Economic Systems
Essential Question: Who or what decides what you get?In an Experiential Exercise, students engage in a simulation that parallels the production and consumption of goods in market and command economies.
4. Gains from TradeEssential Question: How does trade make people better off?
In an Experiential Exercise, students take on the role of farmers who must specialize and trade in order to achieve their goals.
Unit 2: How Markets Work
5. Demand and Supply
Essential Question: What are demand and supply, and what factors influence them?In a Social Studies Skill Builder, students work in pairs to analyze a series of newspaper headlines to determine their effect on the demand and supply curve.Why Teach This Lesson?
6. Markets, Equilibrium, and PricesEssential Question: How do you know when the price is "right"?
In an Experiential Exercise, students participate in a market simulation to discover how an equilibrium price is set and to experience the effects of price ceilings and price floors. Why Teach This Lesson?
7. Market Structures and Market FailuresEssential Question: What happens when markets do not work perfectly?In a Problem Solving Groupwork activity, students analyze an industry case study and create a graphic equation that demonstrates how their industry exemplifies the characteristics of one of the imperfect market structures.
2nd QuarterWhy Teach This Lesson?
Unit 3: Economic Institutions and Organizations
8. Money, Banking, Saving, and InvestingEssential Question: How should you spend, save, and invest your money?In a Response Group activity, students act as financial advisers to make recommendations about spending, saving, and investing.
Why Teach This Lesson?
9. Entrepreneurs and Business OrganizationsEssential Question: How do entrepreneurs use their resources to start businesses?
In an Experiential Exercise, students form sole proprietorships, partnerships, or corporations to develop and present business plans to investors.
10. Human Capital and the Labor MarketEssential Question: Why is it important to develop your human capital?
In a Writing for Understanding activity, students research information about a career of their choice and write a resume applying for a job approximately 10 years in the future.
Unit 4: Economics of the Public Sector
11. Government and the EconomyEssential Question: How should the U.S. government carry out its economic roles?In a Social Studies Skill Builder, students analyze political cartoons to examine points of view on the economic roles of the U.S. government.
Why Teach This Lesson?
12. Taxes and TaxationEssential Question: Who and what should be taxed?In a Response Group activity, students attend a mock town meeting to debate four local tax proposals.
Why Teach This Lesson?
Unit 5: Measuring and Managing the Economy
13. Measuring the EconomyEssential Question: How do economists measure a nation's economic health?In a Visual Discovery activity, pairs examine four case studies, interpreting data and primary source photographs related to key economic indicators.Why Teach This Lesson?
14. Fiscal and Monetary PolicyEssential Question: How do policy makers use fiscal and monetary policy to stabilize the economy?In a Response Group activity, students assume the roles of voting members of the Federal Open Market Committee to determine the best policy for stabilizing the economy.
Unit 6: Globalization and the Global Economy
15. The United States and the Global EconomyEssential Question: How do countries conduct trade in the global economy?
In an Experiential Exercise, students become importers and exporters to trade goods in the global economy.
16. The Costs and Benefits of Globalization