Introduction to Economics

Curriculum Course Guide

Perth Amboy Public Schools

August 31, 2015

PERTH AMBOY PUBLIC SCHOOLS

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Course Description

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This course is designed to present economics as a relevant, serious, spirited, and evolving social science. The course is intended to expand the realm of critical, analytical, and evaluative processes of thought; all designed to have students see the world through the more objective and considered lens of an economist. The course will help students gain an integrated insight to economic philosophy and theory as well as the operational dynamics of economic societies, especially the United States. The course will allow to students to understand how incentive-based human behavior often determines how an economy (and society) works and to conceive of ways in which it might be made to work better. The course will provide students with the life and career skills needed to function optimally within this dynamic context and will better prepare students for the intensely competitive and constantly changing worldwide marketplace. Students learn how economies and markets operate and how the United States economy is interconnected with the global economy. Additionally they learn how to navigate the financial decisions they must face and to make informed decisions relating to career exploration, budgeting, banking, credit, insurance, spending, financing postsecondary education, taxes, saving and investing, buying/leasing a vehicle, and living independently. They also learn the importance of investing in themselves in order to gain the knowledge and skills valued in the marketplace. Development of financial literacy skills and an understanding of economic principles will provide the basis for responsible citizenship, more effective participation in the workforce, and career success. The impact of a variety of factors including geography, the federal government, economic ideas from important philosophers and historic documents, societal values, and scientific discoveries and technological innovations on the national economy and economic policy is an integral part of the course. The course incorporates all economics and financial literacy objectives included in New Jerseys Standard 9.1 Personal Financial Literacy and incorporates the 20 National Content Standards developed and revised by the Council for Economic Education.

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Syllabus & Pacing Guide

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PACING GUIDE

Unit/Topic/Skill

Suggested Time Frame

Notes

Foundations of Economics

Chapters 1-6

Seven Weeks

What is Economics?

Economic Systems

American Free Enterprise System

Demand

Supply

Prices

Personal Finance

Chapters 10,11,19

Six Weeks

Money and Banking

Financial Markets

Personal Financial Literacy

Credit & Loans

Financial Awareness

Microeconomics

Chapters 7-9

Five Weeks

Market Structures

Business and Labor

Labor and Wages

Macroeconomics

Chapters 12-16

Six Weeks

Evaluating the Economy

Economic Instability

Taxes and Government Spending

Fiscal Policy

Monetary Policy

Global Economics

Chapters 17, 18

Five Weeks

Recourses for Global Trade

Global Economic Development

Global Trade Organizations

PERTH AMBOY PUBLIC SCHOOLS

Curriculum Guide

(Copy & Paste this table onto pages after completing each guide or unit.)

Content Area

Economics

Grade Level

10th Grade

Topic/Concept/Skill

Foundations of Economics

Time Frame

Seven Weeks

Overview/Rationale

Economics influences the lives of everyone on Earth. Economics affects your life when you earn money and then decide to spend your money to buy something you need or want. The process of deciding what to buy and how much to pay for it applies some of the basic elements of thinking like an economist. Understanding the fundamentals of how economists think will allow students make better choices in their own economic decisions. This unit will cover the foundations of economics to be built upon throughout the course. Included are the concepts of, scarcity, economic systems, free enterprise, supply, demand, and the role of prices.

Desired Results

Critical Content Standards

New Jersey Content Standards for Social Studies

9.1.12.A.9 Analyze how personal and cultural values impact spending and other financial decisions.

9.1.12.A.6 Summarize the financial risks and benefits of entrepreneurship as a career choice.

6.1.12.B.16.a Explain why natural resources (i.e., fossil fuels, food, and water) continue to be a source of conflict, and analyze how the United States and other nations have addressed issues concerning the distribution and sustainability of natural resources

6.2.12.C.5.b Compare and contrast free market capitalism, Western European democratic socialism, and Soviet communism.

6.1.12.C.16.a Evaluate the economic, political, and social impact of new and emerging technologies on individuals and nations.

Common Core State Standards Literacy for History/Social Studies

CCSS.ELA-Literacy.RI.9-10.1 Cite strong and thorough textual evidence to support analysis of what the text says explicitly as well as inferences drawn from the text.

CCSS.ELA-Literacy.RI.9-10.2 Determine a central idea of a text and analyze its development over the course of the text, including how it emerges and is shaped and refined by specific details; provide an objective summary of the text. CCSS.ELA-Literacy.RI.9-10.3 Analyze how the author unfolds an analysis or series of ideas or events, including the order in which the points are made, how they are introduced and developed, and the connections that are drawn between them.

CCSS.ELA-LITERACY.RH.9-10.4 Determine the meaning of words and phrases as they are used in a text, including vocabulary describing political, social, or economic aspects of history/social science.

CCSS.ELA-LITERACY.RH.9-10.5 Analyze how a text uses structure to emphasize key points or advance an explanation or analysis.

CCSS.ELA-LITERACY.RH.9-10.6 Compare the point of view of two or more authors for how they treat the same or similar topics, including which details they include and emphasize in their respective accounts.

CCSS.ELA-LITERACY.RH.9-10.7 Integrate quantitative or technical analysis (e.g., charts, research data) with qualitative analysis in print or digital text.

CCSS.ELA-LITERACY.RH.9-10.8 Assess the extent to which the reasoning and evidence in a text support the author's claims.

CCSS.ELA-LITERACY.RH.9-10.9 Compare and contrast treatments of the same topic in several primary and secondary sources.

CCSS.ELA-Literacy.WHST.9-10.1Write arguments focused ondiscipline-specific content.

CCSS.ELA-Literacy.WHST.9-10.2Write informative/explanatory texts, including the narration of historical events, scientific procedures/ experiments, or technical processes.

CCSS.ELA-LITERACY.W.9-10.3 Write narratives to develop real or imagined experiences or events using effective technique, well-chosen details, and well-structured event sequences.

CCSS.ELA-LITERACY.W.9-10.4 Produce clear and coherent writing in which the development, organization, and style are appropriate to task, purpose, and audience. (Grade-specific expectations for writing types are defined in standards 1-3 above.)

CCSS.ELA-LITERACY.W.9-10.5 Develop and strengthen writing as needed by planning, revising, editing, rewriting, or trying a new approach, focusing on addressing what is most significant for a specific purpose and audience. (Editing for conventions should demonstrate command of Language standards 1-3 up to and including grades 9-10here.)

CCSS.ELA-LITERACY.W.9-10.6 Use technology, including the Internet, to produce, publish, and update individual or shared writing products, taking advantage of technology's capacity to link to other information and to display information flexibly and dynamically.

CCSS.ELA-LITERACY.W.9-10.7 Conduct short as well as more sustained research projects to answer a question (including a self-generated question) or solve a problem; narrow or broaden the inquiry when appropriate; synthesize multiple sources on the subject, demonstrating understanding of the subject under investigation.

CCSS.ELA-LITERACY.W.9-10.8 Gather relevant information from multiple authoritative print and digital sources, using advanced searches effectively; assess the usefulness of each source in answering the research question; integrate information into the text selectively to maintain the flow of ideas, avoiding plagiarism and following a standard format for citation.