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Economics

GJHS Course Syllabus

 

Course Name:  Economics

Instructor:  Mr. Patrick Barron

Course Overview:

Economics is an elective course that studies the decisions that people make with their money.  This course is a broad overview and introduction to the basic concepts and theories of Micro (small markets) and Macroeconomics (large markets).  Students will look at traditional, command and market economics, identify the similarities and differences in these economic systems and then spend the majority of the course focusing on the American free-enterprise system.  This study will include a look at market transactions, the costs and benefits of competition, the function of money, economic institutions, changes in supply and demand, forces that can change price, sources of tax revenue, and economic roles of the government, public goods, and the impact of the media. Students will consider the effects of scarcity and choice, economic interdependence, and specialization on labor and wages. 

 

Course Objectives:

By the completion of this course the students will be able to:

  • Evaluate the strengths and weaknesses of traditional, command and market economies.
  • Analyze the impact of traditional, command and market economies on the United States economy. 
  • Assess the strength of the regional, national and/or international economy and compare it to another time period based upon economic indicators.
  • Describe historical examples of expansion, recession, and depression internationally. 
  • Analyze the flow of products, resources and money in a mixed economy.
  • Evaluate the operation of noncompetitive markets. 
  • Analyze policies designed to raise or lower interest rates and how the Federal Reserve Board influences interest rates.
  • Evaluate changes in economic institutions over time (e.g., stock markets, non-government organizations). 
  • Predict how changes in supply and demand affect equilibrium price and quantity sold.
  • Identify and analyze forces that can change price.
  • Evaluate types of tax systems.
  • Evaluate the economic roles of governments.
  • Analyze the impact of media on decision-making of consumers, producers and policymakers.
  • Analyze actions taken as a result of scarcity issues in the regional, national        and international economies.
  • Evaluate the economic reasoning behind a choice. 
  • Evaluate the allocation of resources used to produce goods and services.
  • Analyze how United States consumers and producers participate in the global production and consumption of goods or services.
  • Evaluate how trade is influenced by comparative advantage and opportunity costs.
  • Analyze the factors influencing wages.
  • Assess the impact of entrepreneurs on the economy.
  • Analyze the risks and returns of various investments.
  • Evaluate benefits and costs of changes in interest rates for individuals and society.

 

Classroom Rules:

  • Attendance
    • It is absolutely necessary that you attend class on a regular basis.  This course, like any Social Studies course, will follow a rigorous and continuous schedule in which new content is introduced every day.  You will be amazed at how much you will miss in just one day out of this class.  Just because you had a day off does not mean the class did not move on.  Material you missed will not be covered during class time.  Therefore, it is essential that you attend class regularly.  Before you return to class, you must get an excusal slip from your academy secretary.  Do not enter the classroom without an excusal slip. 

 

  • If you do miss a class, then it is YOUR responsibility to get the notes and make up any work that you missed.  If possible, have someone pick up assignments for you when you are out a day.  Please contact me in the case of an extended absence so your work can be sent home to you. 

 

  • If you are absent the day an assignment is due, that assignment is due the day you return.  If you are absent on the day of a quiz or a test, be prepared to take that quiz or test on the day of your return.  All make-up work must be completed within 3 days of your return to school, or you will receive a zero.   An unexcused absence will result in a zero for any assignments, quizzes, tests, or activities performed that day. 

 

  • Students will not be permitted to leave class for any reason.  Plan your stops for between classes.  Students will not be permitted to leave class unless there is a medical condition that I have been notified of by the nurse.  Classes are only 42 minutes, and every one of those 42 minutes will be used for instruction.

 

  • Behavior
    • Class will begin promptly every day.  I expect you to come to class prepared and to have all materials (pencils, binder, folder, homework assignments).  Pencils should be sharp, Pens ready and computers ready to go before the bell rings.    Responsible and respectful behavior is expected at all times.  The following rules are to be followed at all times:  Be Respectful, Be Honorable, Be There, and Be Prepared.  A more detailed explanation of classroom rules and expectations follows in the Code of Conduct Contract.

 

  • Tardies
    • Coming to class late is a disruption in the educational process of others; therefore, it will be handled in a very strict, consistent fashion.  I expect you to be in your seat when the bell rings and working on your PSSA Math Starter for the day; otherwise, that, too, will be considered a late.  Accurate records will be kept.  If you are late to class 2 times, a phone call home will be made.  If you are late an additional 2 times (total of 4 lates), another phone call home will be made and a log will be written.  Bottom line, BE ON TIME!!!!!!!

Course Materials:

You will be expected to bring your textbooks, notebook, and a writing utensil EVERYDAY.  You each will be provided a Junior Achievement textbook and workbook that will be your to keep.

Course Text & Readings:

Junior Achievement Textbook and Workbook

Assessments:

A variety of formative and summative assessments will be employed to gauge student success. 

Grading Policy & Procedures:

Grading Scale:

 Grades will be determined by a total point system, and will follow the grading scale established by the Greater Johnstown School District.  The assignment breakdown of the total grade will roughly work out to:

 

Examinations:                                                                        20%

Projects:                                                                     20%

Homework/Quizzes:                                                  20%

Class Participation:                                                    20%

Final Exam:                                                                 20%

Academic Dishonesty:           

  • Any act of academic dishonesty (cheating on exams, plagiarism of homework, etc.) WILL NOT  BE TOLERATEDand will result in the following:
    • a zero on the work involved,
    • a phone call home to parent/guardian
    • a discipline log being sent to the office
    • Quizzes / Tests will vary in format and design in an effort to gain an accurate assessment of student learning.  As noted these summative assessments account for about 60% of your total grade so be sure to study.
    • Homework:
      • Homework assignments will be assigned as needed throughout the course of the year.  And it is expected to be completed on time. 

Course Outline:

The following outline is a best-case scenerio model and is subject to, and most likely will, change.

Introduction to Economics

What is Economics

Scarcity and the factors of production

Opportunity Cost

Production and Possibilities Graphs

 

Economic Systems

Answering the Three Economic Questions

Free Markets

Centrally Planned Economies

Modern Economies

 

American Free Enterprise

Preserving Economic Freedoms

Providing a Safety net

Providing Public Goods

Promoting Growth and Stability

 

How Markets Work

Demand

Understanding Demand

Shifts on the Demand Curve

Elasticity of Demand

 

Supply

Understanding Supply

Costs of Production

Changes in Supply

 

Prices

Combining Supply and Demand

Changes in Market Equilibrium

The Role of Prices

 

Market Structures

Perfect Competition

Monopoly

Monopolistic Competition and Oligopoly

Regulation and Deregulation

 

Business and Labor

Business Organizations

Sole Proprietorships

Partnerships

Corporations, Mergers and Multinationals

Other Organizations

 

Labor

Organized Labor

Labor and Wages

Labor Market Trends

 

Money, Banking and Finance

Money and Banking

Money

The History of American Banking

Banking Today

 

Financial Markets

Savings and Interest

Bonds and Other Financial Assets

The Stock Market

 

Measuring Economic Performance

Gross Domestic Product and Growth

Gross Domestic Product

Business Cycles

Economic Growth

 

Economic Challenges

Unemployment

Inflation

Poverty

 

Government and the Economy

Taxes and Government Spending

What are Taxes

Federal Taxes

Federal Spending

State and Local Taxes and Spending

Fiscal Policy

Understanding Fiscal Policy

Fiscal Policy Options

Budget Deficits and the National Debt

 

The Federal Reserve and Monetary Policy

The Federal Reserve System

Federal Reserve Functions

Monetary Policy Tools

Monetary Policy and Macroeconomic Stabilization

 

The Global Economy

International Trade

Why Nations Trade

Trade Barriers and Agreements

Measuring Trade

 

Economic Development and Transition

Levels of Development

Issues of Development

Financing Development

Transitions to Free Enterprise

 

Keys to Success:

            Effort:   Probably the most important key to success is the student’s effort.  Notice that a large portion of the grading scale is in-class assignments and quizzes.  Be in class, pay attention, stay focused and use the time to your advantage and this will be one of the easiest classes you have here at GJHS.  Miss school and don’t do the work, and your grade will show it. 

 

            Parents: Every study done on successful students indicates that the level of parental involvement is the number one contributing factor to the success or failure of children.  I therefore invite every parent to get involved in this class.  Ask about school, make sure your student does their homework, and feel free to call me to check up on your student’s performance at any time during the semester.

 

 

I am available from 7:30 – 3:00 Monday through Friday at 533-5601 X 5110.

If these times are no good, simply leave me a message at that # and specify a time that would suit you better and I will get back to you.  Your student can succeed.  But with your help and cooperation with me and the rest of GJHS, THEY CAN”T FAIL.

Please return this paper to Mr. Barron no later than Friday, September 9th 2011.

 

I have read and understand the overall course structure as well as the student requirements and responsibilities.   I have also read the rules in the Code of Conduct Contract and understand them and the consequences that result if not followed. 

 

Student Name:

 

 

Student Signature :

 

Date:

Parent/ Guardian Name:

 

Relation:

Parent / Guardian Signature

 

Date:

 

 

 

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