Credit Recovery - Economics

COURSE DESCRIPTION: Students will be introduced to the basics of economic principles, and they will learn the importance of understanding different economic systems. They will also investigate how to think like an economist. Students will explore different economic systems, including the American Free Enterprise System, and they will analyze and interpret data to understand the laws of supply and demand. Students will also be presented with economic applications in today’s world. From economics in the world of business, money, banking, and finance, students will see how economics is applied both domestically and globally. Students will also study how the government is involved in establishing economic stability in the American Free Enterprise System as well as the how the U.S. economy has a global impact.

COURSE OBJECTIVES:


PREREQUISITES: None

COURSE LENGTH: One semester

REQUIRED TEXT: None

COURSE OUTLINE:

Unit 1 - Foundations of Economics and the Problem of Scarcity

Section A - Thinking Like an Economist

Section B - Scarcity and the Factors of Production

Section C - Decision Making

Section D - Production Possibilities Graphs

Section E - Exam Preparation & Exam

Unit 2 - Economic Systems

Section A - Answering Economic Questions and Prioritizing Economic Goals

Section B - Free Market Economy

Section C - Centrally Planned or Command Economy

Section D - Mixed or Modernized Economy

Section E - Exam Preparation & Exam

Unit 3 - American Free Enterprise and U.S. Government Involvement

Section A - Principles of the American Free Enterprise System

Section B - The U.S. Government's Role in the American Free Enterprise System

Section C - The U.S Government's Income and Expenditures

Section D - U.S. Fiscal Policy

Section E - U.S. Monetary Policy

Section F - Exam Preparation & Exam

Unit 4 - Understanding the Market through Supply and Demand

Section A - Understanding the Law of Demand

Section B - Analyzing Demand Graphs

Section C - Understanding the Law of Supply

Section D - Analyzing Supply Graphs

Section E - Setting Prices

Section F - Exam Preparation & Exam

Unit 5 - Business, Banking, and Finance

Section A - Types of Business Organizations

Section B - Money and Banking

Section C - Saving and Investing

Section D - Exam Preparation & Exam

Unit 6 - Measuring Economic Performance

Section A - Gross Domestic Product

Section B - Business Cycles

Section C - Unemployment

Section D - Inflation

Section E - Exam Preparation & Exam

Unit 7 - The United States and Globalization

Section A - International Trade

Section B - Economic Development

Section C - The World Bank

Section D - Exam Preparation & Exam