 | | | | | | Economics | | Course Description: This one-semester course is designed to prepare students to make important economic decisions in their personal lives and as citizens of a democratic society. This study of economics will enable students to make reasoned judgments about personal finances and the economic policy decisions of the various levels of government. Understanding of how markets work and of the tradeoffs involved in trying to accommodate unlimited wants with limited resources is essential for meaningful democratic dialogue on what governmental bodies should be doing. With this background, students have better chances of achieving the American dream.
Standards:
· Understand that in a market economy income is earned in different ways.
· Understand business organizations, market structures, and financial institutions that operate within our economy.
· Understand the basic characteristics of markets and the role of prices in modern market ecomonics.
· Understand that firms in a market economy experience varying degrees of competition for the good or service that they sell.
· Understand the risk and opportunities associated with entrepeneurship.
· Understand the role of labor in the economy.
· Understsand the economic role of government in a free market economy.
· Understand the economic activities of government.
· Understand the concepts that measure the national economy.
· Understand and explain that the U.S. economy is primarily a free market system.
· Understand basic measures of overall economic performance.
· Analyze the causes and consequences of overall economic fluctuations.
· Understand the influence of federal government budgetary policy and the Federal Reserve System’s monetary policy.
· Understand that economic growth is the primary means by which a country can improve the future economic standard of living for its citizens.
· Understand and use economic concepts, theories, principles and quantitative methods to analyze current events.
· Learn and be able to apply personal financial management and investment practices.
· Understand the key factors involved in the United States’ economic relationships with other nations.
· Apply economic theories and concepts to public policy issues.
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