Economics
11th - 12th grade

This is a one semester class. The first section introduces basic economic concepts and institutions and their application in the American economy. Students will come to understand the economic decision-making processes of consumers, business firms, and the government.  The second section of the course offers the opportunity to explore personal finance and equips students with tools and understanding to make wise financial choices. This section is divided into content areas which introduce basic concepts in cash flow, debt management, proper protection, asset accumulation, retirement planning, and wealth preservation.
 
Week 1 – Introduction to Economics

• Class expectations

• Policies and procedures

• Class project explanation

• Introduction to economics

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Week 2- Markets

• How markets work

• Roles of supply, demand, and prices

• What causes market changes

• How markets can fail

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Week 3 – Money

• What gives money its value

• How banking works

• Measures of inflation

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Week 4 – Economics in the United States

• America’s economic past

• America’s economic future

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Week 5- The Federal Reserve

• The role of the Federal Reserve system

• FED functions

• FED limits

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Week 6 – Trade

• Benefits of trade

• Trade restrictions

• Free trade advantages

• Effects of imports and exports

• Currency exchange

• Quotas, tariffs, subsidies

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Week 7 – Business

• Sole proprietorships, partnerships, LLCs and corporations

• Role of small business in economics

• Starting a business

• Profit and loss

• Business cycles in a free market economy

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Week 8 – Increase Cash Flow

• Daily Expenditures

• Cost of living

• Wants vs. needs

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Week 9 – Debt Management

• Understanding different types of debt

• What is a FICO score

• Interest rates

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Week 10 – Building a Strong Financial Foundation

• Understanding the X curve

• Proper protection

• Emergency funds

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Week 11 – Building Wealth and Asset Accumulation

• Rate of return and Rule of 72

• Risks

• Effect of taxes

• Effect of inflation

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Week 12 – Retirement Planning/ Wealth Preservation

• Sources of retirement income

• Healthcare/Medicare

• Estate planning

• Final exam review

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Week 13 – Career Project

• Explanation of project

(Students will demonstrate a basic understanding of personal finance by completing a career report. This project will include selecting an occupation or start-up business and creating a realistic plan and budget.)

Week 14 – Economics and Personal Finance

• How economics and personal finances work together

• Review of final exam material

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Week 15 – Final Exam and Project Presentations

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Honors Unit – optional add-on

• Research Keynesian (John Kaynes) economics

  • ​Essay summarizing the views and beliefs of Keynesian economics

  • Use Images/graphs to illustrate the basic principles of Keynesian economics

• Research Thomas Sowell's economic/social beliefs

  • Essay summarizing the views and beliefs of Thomas Sowell's economic/social beliefs

  • Use Images/graphs to illustrate the basic principles of Thomas Sowell's economic/social beliefs

• Compare and contrast economics views

  • Essay comparing the similarities and/or differences between these two economists

  • Use Images/graphs to illustrate the difference and similarities of the two economists