Goal

The goal of this class is for the student to become more aware of the ideas behind the study of Economics and how the themes and patterns of Economics affect their lives. We will be working together to identify four main themes as identified by the state: the market economy, the national economy, the international economy, and our personal finances. Classroom participation will be very important to both flesh out our discussions and keep the class interesting and fresh. Without your participation to our discussions this class could end up a lecture, and I don’t think anyone wants that.

Evaluation

You will be evaluated throughout the semester. There will be four unit tests that cover each of the four statewide themes. These will be based on the High School Social Studies Content Expectations. For credit for the course, one must score a 60% or above on each of these examinations. Failure to do so on either the original or the make up test, for any of the examinations, will result in receiving no credit for the course. As this course is required for graduation, it is imperative that everyone passes these tests. It is permissible to re-take the test, but the highest percentage possible on the re-take is 60%. Also, one may not take the next test until the previous one is passed. For the quarter and semester grades, there are additional opportunities to earn points. There will be section quizzes over assigned readings. There will also be short papers, presentations, and in class work that will help with the remaining 40% of your grade. Classroom participation, as stated before, is important and will also be a weighted component of your grade. Without classroom discussion this class will be much more difficult.

Educational Materials

We will be using several different forms of educational materials. Magazine articles, internet sites, handouts, and newspaper articles will compliment our textbook. Other sources of information will be used if possible to help you get a wide array of data on our subjects.

Topics

Our topics will begin with a simple introduction to the principle of scarcity. Once that topic is mastered, we will discuss the market economy, the national economy, the international economy, and our personal finances. Contemporary economic issues, such as our concerns with the formation of the European Union and the financing of terrorism, have roots in the past. We cannot hope to solve our current problems without first figuring out what caused the problem and or how the issue works. This class will help show the causes, and why we should pay attention to them. If during the course of the class you have problems, please come to my VIP for help. The approximate syllabus is as follows. Unit One- The Market Economy Chapters 1, 7, 16 Test over The Market Economy Unit Two- The National Economy Chapters 2, 15, 17, parts of 20, 13 Test over The National Economy Unit Three- The International Economy Chapters 18, 19 Test over The International Economy Unit Four- Our Personal Finances Chapters 4, 5, 6, 7 Test over Our Personal Finances

Mr. Phillips

Alignment with the HSCEs

E1 – THE MARKET ECONOMY 1.1 Individual, Business, and Government Choices 1.1.1 Scarcity, Choice, Opportunity Costs, and Comparative. Ch1-1, 18-11.1.2 Entrepreneurship 1-1 1.2 Competitive Markets 1.2.1 Business Structures 1-2 1.2.2 Price in the Market 1-1 1.2.3 Investment, Productivity and Growth 1-1 1.3 Prices, Supply, and Demand 1.3.1 Law of Supply 7-3 1.3.2 Law of Demand 7-1 1.3.3 Price, Equilibrium, Elasticity, and Incentives 7-2, 4 1.4 Role of Government 1.4.1 Public Policy and the Market 16 1.4.2 Government and Consumers 16-1 1.4.3 Government Revenue and Services 16-2 1.4.4 Functions of Government 16-1 1.4.5 Economic Incentives and Government E2 – THE NATIONAL ECONOMY 2.1 Understanding National Markets 2.1.1 Income 2-1 2.1.2 Circular Flow and the National Economy 2-1 2.1.3 Financial Institutions and Money Supply 15-1 2.1.4 Money Supply, Inflation, and Recession 15-2 2.1.5 Gross Domestic Product (GDP) and Economic Growth 2-3 2.1.6 Unemployment 17-1 2.1.7 Economic Indicators 13-1 2.1.8 Relationship Between Expenditures and Revenue (Circular Flow)17-2 2.1.9 American Economy in the World 20-2,3 2.2 Role of Government in the United States Economy 2.2.1 Federal Government and Macroeconomic Goals 2-2, 15-1, 16-2 2.2.2. Macroeconomic Policy Alternatives 2-3 2.2.3 Fiscal Policy and its Consequences 15-1 2.2.4 Federal Reserve and Monetary Policy 6-2, 15-1 2.2.5 Government Revenue and Services 16-2 E3 – INTERNATIONAL ECONOMY 3.1 Economic Systems 3.1.1 Major Economic Systems 2-1 3.1.2 Developing Nations 19-2 3.1.3 International Organizations and the World Economy 19-2 3.1.4 GDP and Standard of Living 2-3 3.1.5 Comparing Economic Systems 2-1,43.1.6 Impact of Transitional Economies 19-4 3.2 Economic Interdependence – Trade 3.2.1 Absolute and Comparative Advantage 18-1 3.2.2 Domestic Activity and World Trade 18-3 3.2.3 Exchange Rates and the World Trade 18-2 3.2.4 Monetary Policy and International Trade 18-2 3.2.5 The Global Economy and the Marketplace 18-2 E4 – PERSONAL FINANCE 4.1 Decision Making 4.1.1 Scarcity and Opportunity Costs 1-1, 5-1 4.1.2 Marginal Benefit and Cost 7-1 4.1.3 Personal Finance Strategy 6-1 4.1.4 Key Components of Personal Finance 6-2,3, 4-1,2,3 4.1.5 Personal Decisions 6-3 4.1.6 Risk Management Plan 6-2 Unit One Test Chapters 1, 7, 16Unit Two Test Chapters 2, 15, 17, Parts 20, 13Unit Three Test Chapters 18, 19Unit Four Test Chapters 4, 5, 6, 7

Mr. Phillips' Room Rules(Also known as 12 rules to make our lives together easier.) Remember the golden rule; treat others as you would have them treat you. 1. You must receive a 60% or better on each of the four unit tests. Failure to do will require you to re-take the test until a 60% is earned. You will not be permitted to take the next test until the previous one has been successfully completed. The maximum you may earn on a make up test is 60%. Any points above and beyond the 60% will be dropped.2. Go to the bathroom before you get into the room. Excessive bathroom requests will count as tardies. I know an emergency may come up. You have no more than two before they count as tardies.3. You are only allowed to be late 2 times per semester. Every time you are late after the second time, you will have 5 points taken off of your classroom participation grade; after all, you can’t participate if you are not here. Those points could be the difference between passing and failing. You will also be assigned an unexcused absence on each third tardy in accordance with the school policy. Be on time.4. Class starts at the bell. When class starts I expect you to be in your seat and quiet; ready to go.5. Your work is due on the due date. That is why I give a due date. If it is late I will deduct a lot of points for each day it is late (usually 50% of the points possible), if I take it at all. Excuses are fine to try, but they will not work. 6. You will be expected to follow all of the school rules in this classroom. I don't care if "none of the other teachers follow that rule". I do follow that rule.7. I will not put up with harassment of other students. You will treat your fellow students with respect, or you will not be in here.8. You will never give a substitute teacher a hard time. If a substitute has to write down your name for any reason, you will get two detentions in the office; that easy. Please be nice to our subs, they have a hard job.9. If by the end of the quarter you are missing a large assignment you will not get credit for the class until you finish the assignment. You may get 0 points for it due to late charges, but it will be completed, and done to the best of your ability, or you will not receive a grade.10. Class is not finished until the bell rings. Do not get up and head for the door. 11. You only have as many days to make up work after you are absent as you were absent. For example, if you are absent one day, whatever was due on that day is now due the first day you are back; you miss a quiz, you take it the first day you are back. If you miss two days, what ever was due on the first day you were absent is due on the first day you are back. It is your responsibility to find out what you missed and turn it in. Don’t try to turn in work later than the due date and claim it is OK because you were absent. It is up to you to come to me about what you missed. If your excuse is a pink unexcused slip, your work will not be allowed to be made up.12. Do not cheat. I know this seems obvious, and most of you would never do this. However, each year I end up with one or two students who copy off the internet without giving credit (plagiarism), or who just plain look on someone else’s paper. Please don’t try this. It makes me feel bad to flunk you. If you do cheat you will receive a 0 for the assignment. You will also receive a second 0 of the same weight for an assignment all of your own. I will also contact your parents and let them know what you did. For all of our sakes, please don’t do it.