VHS Catalog 12-13

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Course Title:
Economics Honors Section AZ: An Introduction
Course Code:
Social Studies
Grade Level:
07, 08, 09, 10, 11, 12
Honors, Pre-AP
Repeated Semester (Fall: 25 Seats; Spring: 25 Seats; )
15 weeks
Solid reading and writing skills, history and American government would be helpful, basic math skills such as working with decimals and fractions
Additional Requirements:
Accredited by:
Certified by NCAA for initial-eligibility (VHS School Code: 221356); Middle States Commission on Secondary Schools; Northwest Accreditation Commission
Course Requires a Media Kit to be Shipped to Students:
Course Requires a Media Kit to be Purchased by Course Sponsor
(see additional details below):

Note: This course is intended to teach and reinforce crucial academic skills to help students strengthen their background in the subject area prior to taking an advanced level course.

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Economics is the study of how individuals, groups, and countries deal with the problem of limited resources and unlimited wants and needs. This course helps students gain a deeper understanding of important concepts such as tradeoffs, opportunity cost, supply and demand, saving and investing, production and consumption, fiscal and monetary policy, inflation and unemployment, and trade policy. Upon successful completion of the course students should be better able to assess the economic policy decisions that affect them, their community and their country. Previous mastery of basic math skills is essential.

*This course may be appropriate for Gifted and Talented middle school students that meet all course prerequisites.*

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MediaKit Contents:

Week 1
Getting Acquainted

Week 2
Scarcity, Choice and Decisions
What is economics all about?

Week 3
Factors of Production
In order to produce goods and services, we must have four things.
If even one piece is missing, production cannot take place.

Week 4
Economic Systems
Societies have organization.
We will discuss characteristics of economic systems, why some are successful and some are not.

Week 5
Microeconomics - Markets and Competition
Markets are a key component of capitalism.
Gain an understanding of the three business types and four competitive market types.

Week 6
Supply and Demand
"Teach a person to say Supply and Demand and you have an economist."

Week 7
Prices -How are prices formed?
What do they do in a free market?

Week 8
Marginalism and Consumer Behavior
Why do Rolos come in a package of 10?
What would happen if there were one more?

Week 9
Market Failure and Government
What is the purpose of government? What if there was no government?

Week 10
Macroeconomics - Measurement of the economy
How do we know how well our economy is doing?
What do all those initials, (GDP, GNP, NI, DI, PI) really mean?

Week 11
Economic Instability
The economy has ups and downs just like everything else.
What happens when we have our downs and how do we go back up?

Week 12
Fiscal Roles of Government - Taxes and spending.
What more can be said?

Week 13
The Federal Reserve System
Who makes decisions about interest rates and money supply and what effect does it have on the economy?

Week 14
International Economics-We are not in this world alone?
Where does the United States fit into the global picture?

Week 15
Wrap up - take AP Economics next year.

Course Objectives:
1. To give students another tool for interpreting the world around them.
2. To improve research, writing and critical thinking skills
3. To expose students to an area of social science with which they may not be familiar
4. To take the fear and intimidation out of economics, and
5. To provide a solid understanding of classical economics for students who are interested in studying this subject further.

This catalog description was last modified on 05/23/2012

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