Introduction to Economics Syllabus
Instructor: Brian Scott
Social Studies Department
Office Hours: I am available for extra help with an appointment after
school Monday-Friday. During the day, I am able to see students
Introduction To Economics
This course will provide students with a conceptual framework for effective economic decision-making. Units studied include basic concepts, Supply and Demand, Marginal Analysis, Market Structures, Measurement of Economic Performances, National Income, Finance, Fiscal Policy, and Economic Growth and Productivity. Considerable attention is given to personal fiscal policy. Students are encouraged to see how politics, international relations, and daily life are affected by economic factors. Class activities include films, speakers, discussion, game simulations, and student presentations. Grades will be based on tests, quizzes, and projects.
Purpose: The purpose of studying Microeconomics is to provide a thorough understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the larger economic system. It places primary emphasis on the nature and functions of product markets, and includes the study of factor markets and of the role of government in promoting greater efficiency and equity in the economy.
Students will understand such topics as the basic economic concepts, the nature and functions of product markets, factor markets, and market failure and the role of government.
Purpose: The purpose in studying Macroeconomics is to provide a thorough understanding of the principles of economics that apply to an economic system as a whole. Such a course places particular emphasis on the study of national income and price determination, and also develops your familiarity with economic performance measures, economic growth, and international economics.
Students will understand such topics as measurement of economic performance, national income and price determination, the financial sector, Inflation, Unemployment, and stabilization policies, economic growth and productivity, and international trade and finance.
Grades are based on a point system. Each assignment is worth a certain number of points and will be returned to you scored with the points you earned out of the total points possible. For example, a homework assignment may be worth 10 points, while a test may range between 70-100 points. At the end of each marking period, points are averaged into percentages from which letter grades are determined. The grading scale based on the Weston High School scale is as follows:
97-100% = A+ 87-89% = B+ 77-79% = C+ 67-69% = D+
93-96% = A 83-86% = B 73-76% = C 63-68% = D
90-92% = A- 80-82% = B- 70-72% = C- 60-62% = D-
Below 60% = F
Quarter One Basic Economic Concept and Microeconomics
Unit 1: Basic Economic concepts
Essential Question: How does society best manage its resources?
• Opportunity Cost
• Production Possibilities
Unit 2: Supply and demand and Consumer choice
Essential question: How do supply and demand impact markets?
• Supply and Demand
Unit 3. Marginal Analysis
Essential Question: How do businesses select the optimal inputs to insure profitability?
• Profit maximization
• Marginal revenue and cost
Unit 4 Market Structures
Guiding Question: What role does competition play in a market economy?
• Perfect competition
Unit 5 Entrepreneurship
Guiding Question: How does economic knowledge guide entrepreneurship?
PBL activity Franchise
Quarter 2 Macroeconomics
Unit 1 Measurement of Economic Performance
Essential question: How is economic growth and decline measured?
Unit 2 National Income and Price Determination
Essential questions – How do we determine the state of the economy?
• Aggregate Demand and Supply
• Short and long run equilibrium
• Full employment
Unit 3 - Financial Sector
Essential questions - How does the creation and supply of money impact the economy?
• Money supply and market
• Central Bank / Monetary policy
Unit 4 – Inflation, unemployment, and Stabilization Policies
Essential question –What methods are employed to address inflation and unemployment?
• Fiscal Policy
• Debt and Deficit
Unit 5 (If Time International Markets)