ECONOMICS/HONORS ECONOMICS
2014-2015
Mrs. Giordano a/k/a “Mrs. G.” Room 906
863-471-5500 ext. 265
This is a semester long course with an average enrollment of 20 students. The academic calendar uses a 90 minute, alternating block schedule.
Teaching Strategies
This course is divided between lecture, Socratic seminar and guided individual and collaborative research and activities. Students are responsible for maintaining an awareness and understanding of current events, especially as they relate to the subject matter, as these are often discussed in class.
Course Description
This course is designed to provide students with the analytic skills and knowledge required to understand economics, both macro and micro. Students will learn to assess economic theories and issues as to their relevance to a given interpretative problem, to weigh the evidence and interpretations presented in economic scholarships, to arrive at conclusions on the basis of informed judgments and to present these conclusions with articulate reasoning, supported by persuasive evidence. Assignments may be omitted, substituted or added as scheduling allows.
Content
Economic topics of study will include the following: economic systems and the American economy; practical microeconomics; economic trends and transformations; markets, prices and business competition; macroeconomics, the national and global economy.
Course Texts
There are two required texts for this course:
· Economics, Concepts and Choices, Holt McDougal 2013
· Freakonomics, Levitt and Dubner, Harber Perrenial 2009
Grading will be as follows: Quizzes and Tests - 40%; various homework and essay assignments – 40%; and Exams – 20%. All essays, except those written in class must be typed (double-spaced). Essays will be graded on a rubric designed to measure the following factors: content; use of documentary and supporting evidence; grammar; spelling and depth of analysis.
Grading Scale: 90-100 A
80-90 B
70-80 C
60-70 D
0-60 F
*Acceptance of assigned work after due date is at the sole discretion of the instructor and if accepted will be subject to an 11 point penalty per day for each day after due date.
Academic Ethics Policy
The faculty of SHS is committed to a policy of honesty in academic affairs. Conduct for which you may be subject to administrative and/or disciplinary penalties, up to and including suspension or expulsion, include:
1. Dishonesty consisting of cheating of any kind with respect to examinations, course assignments, or illegal possession of examination papers. If you help another to cheat, you will be subject to the same penalties as the student assisted.
2. Plagiarism consisting of the deliberate use and appropriation of another’s work without indentifying the source and the passing off such work as your own. If you fail to give full credit for ideas or materials taken from another, you have plagiarized.
Consequences of cheating or plagiarism:
The first offense of willful plagiarism or cheating (verified by the instructor) will result in a grade of "F" (0 value) for the specific assignment. All instances of plagiarism and other forms of cheating will be referred to the appropriate instructional supervisor and/or Dean.
Each chapter of the Holt McDougal text is divided into four sections. Students are required to read the first two sections of each chapter and answer the Reviewing Key Concepts and Critical Thinking Assessments prior to the first class period of the week and be prepared to discuss them in class. Students are required to read the third and fourth sections and answer the Reviewing Key Concepts and Critical Thinking Assessments for these sections prior to the second class period of the week and be prepared to discuss them in class. Readings from other sources, will either be read and discussed in class or copies of readings will be distributed and assigned as directed. Weekly quizzes will be assessed over the readings, vocabulary and class discussion. Assignments may be omitted, added or substituted as scheduling allows.
*Students are required to bring the Holt McDougal text to class on a daily basis!
SEMESTER ONE
Week One-Two (8/20-29)
Chapter One The Economic Way of Thinking
Scarcity, opportunity cost and production possibilities
3 Fundamental economic questions
4 Factors of production
Cost-Benefit Analysis, Decision making on the margin
Production Possibilities Curve
Comparison shopping assignment
What am I wearing???
Wealth of Nations, Adam Smith
The Ultimatum Game
Week Three (9/2-9/5)
Chapter Two Economic Systems and the American Economy
The effect of freedom of doing business on the growth of an economy
Independent research and presentation on selected country’s economy and ease of doing business
Communist Manifesto, Marx and Engels
Freakonomics, Chapter 1
Week Four (9/8-12)
Chapter Three The American Free Enterprise System
What makes an Entrepreneur Successful?
Individual presentations on American success stories
Is Walmart Good for America?
Freakonomics, Chapter 2
Unit Test 9/6
Week Five (9/15-19)
Chapter Four Demand
Factors affecting and Elasticity
The role of marketing in creating demand
Marketing Evaluation
Commercial Assignment
Case Study: Fueling auto demand
Going Into Debt
The History of the Credit Card
Credit card assignment
Week Six(9/22-26)
Chapter Five Supply
Costs and Elasticity of Supply
Case Study: Robotic technology increases supply
Buying the Necessities, comparison shopping assignment
Weekly budget assignment
Case Study: Is a disaster good for the economy?
Freakonomics, Chapter 3
Week Seven (9/29-10/3)
Chapter Six Demand, supply and prices
Prices as signals, and incentives
Effect of intervention in the price system
Case Study: Price of concert tickets
John Nash and the Role of the Game in Economics
Freakonomics, Chapter 4
In the Chips
Unit Test
Week Eight (10/6-10)
Chapter Seven Market Structures
Perfect Competition
Impact of Monopolies
Effect of regulation and deregulation
Freakonomics, Chapter 5
The Tragedy of the Commons
Antitrust laws and litigation
Is Capitalism Good for the Poor?
Week Nine (10/14-17)
Chapter Eight Types of Business Organizations
Business interview
Articles of Incorporation
Introduce Market Investment game
Case Study: Apple
Franchise research and presentation
Unit Test
Week Ten (10/20-24)
Chapter Nine The Role of Labor
How wages are determined
Trends in Labor
Organized Labor in the US
Reagan and the air traffic controllers
History and current state of labor unions
Independent research/presentation on labor unions
Case Study: Managing changes in employment
Week Eleven (10/27-31)
Chapter Ten Money and Banking
Functions and characteristics of Money
Development of world and US Banking
Innovations in Modern Banking
Case Study: Housing Boom and Bust
Financing Business Operations
Saving and Investing
CD, saving account assignment
Rule of 72
Freakonomics, Chapter 6
Week Twelve (11/3-7)
Chapter Eleven Financial Markets
Savings and Investment
Buying and Selling Stocks
Bonds and other financial instruments
Case Study: High Finance runs amok
Marketing and Distribution
Commercial Assignment
Week Thirteen (11/10-14)
Chapter Twelve Economic Indicators and Measurements
GDP, GNP and other indicators
Business cycles
Stimulating Economic Growth
Case Study: Poland
GNP, GDP, Deficit, Debt
Financing of the National Debt
Country Comparisons
Unit Test
Week Fourteen(11/17-21)
Chapter Thirteen Facing Economic Challenges
Unemployment, poverty and income distribution
Causes and consequences of inflation, deflation and stagflation
Measuring inflation: CPI and Core CPI
Case Study: The Effects of Inflation in the 1970s
Money and Banking
Investment research
Discussion of recent legislative changes
Managing a checkbook/credit card
THANKSGIVING BREAK 11/24-28
Week Fifteen (12/1-5)
Chapter Fourteen Government Revenue and Spending
Types and purpose of taxes
Local, State and Federal Spending
Propaganda, progressive income tax and the role of a duck
Case Study: Should online sales be taxed
Independent research on federal bureaucracy
The history of federal income tax, withholding and the role of a duck
Debate on flat tax
Week Sixteen (12/8-12)
Chapter Fifteen Fiscal Policy
Demand and Supply side policies
Deficits and the National Debt
Case Study: Is the federal debt too large
Freakonomics, Chapter 6
Week Seventeen (12/15-19)
Chapter Sixteen The Federal Reserve System and Monetary Policy
Socratic Seminar: The Federal Reserve?
Monetary policy and alternatives to the Federal Reserve
PSA protect/destroy the Federal Reserve
Case Study: Interpreting Signals from the Fed
Unit Test
CHRISTMAS BREAK 12/22-1/5
Week Eighteen (1/6-9)
Chapter Seventeen Trading with other Nations
Chapter Eighteen Converging Economic Systems
Trade Barriers
The Global Economy and the role of the WTO
Case study on China, India, Vietnam
Microfinancing in Emerging Markets
Is Walmart Good for America?
Was Normalizing Trade Relations with China a win/win?
Environment, the Economy and Marginal decision making
Debate on Cap and Trade
Case Study: China's campaign for Economic Power
Unit Test
Review and Marriage Simulation Preparation
Week Nineteen (1/12-16) EXAMS Marriage Simulation Due
Final Examination will be cumulative, including both essay and multiple choice questions.