Economic concepts. Economics 2A, 2B, 2C, 2D. Principles and 3A, 3B. Practices 4A, 4B. By 5A, 5B. 3. Opportunity costs

Size: px

Start display at page:

Download "Economic concepts. Economics 2A, 2B, 2C, 2D. Principles and 3A, 3B. Practices 4A, 4B. By 5A, 5B. 3. Opportunity costs"

Suzan Patterson
6 years ago
Views:

1 First Six Weeks The student will be able to identify and explain basic economic concepts. Students should be able to understand terms related to individual consumers and businesses. Be able to explain the basic principles of the U.S. free enterprise system. Students should be able to understand how supply and demand affect society, Understand the 10 principles of economics and how they tie together the consumer with society. Understand the theory of comparative economic advantage and explain how people benefit from economic interdependence. Explain how the economy coordinates interdependence economic actors, through the market force of supply and demand. Explain the efficiency of markets, and the costs of taxation, and the benefits of international trade. Scope and Sequence Document Economic Concepts, Individual Markets, and Measuring Output 1A, 1B Economic concepts 2A, 2B, 2C, 2D 1. Scarcity 3A, 3B 2. Choice 4A, 4B 3. Opportunity costs 5A, 5B 4. Production Possibilities Curve 6A, 6B 5. Marginal analysis 7A, 7B 6. and their meaning 8A, 8B 9A, 9B, 9C Economizing Problem 10A, 10B 1. 11A, 11B, 11C 2. Resource Categories 12A, 12B 3. Employment and efficiency 13A, 13B, 13C, 13D 4. Production Tables and 14A, 14B 5. Unemployment, growth and the future 15A, 15B 6. Economic systems 23A, 23B, 23C, 23D 7. Circular flow model 23F, 23G, 24A, 24B, 24C, 24D 25A, 25B 26A, 26B 27A Individual Markets 1. Demand a. demand b. determinants of demand 2. Quantity Demanded 3. Supply a. supply b. determinants of supply 4. Quantity Supplied 5. Supply and Demand: Market Equilibrium a. surpluses b. shortages 6. Equilibrium price and quantity 7. Changes in supply and demand Chapters 1-5 Baseball Game Review Authors John Danielson Juan Jimenez Richard Yekel Michael De La Garza Nina Natanson David Warden Jeffrey Pierce

2 First Six Weeks The student will be able to understand and explain the principles of national income, employment and fiscal policies on a nation s economy. Students should be able to understand terms related to individual consumers and businesses. Be able to explain the basic principles of the U. S. free enterprise system. Be able to explain how government actions affect the way companies deal with economic growth and decline. Be able to compare the free enterprise system of the United States with the systems of other countries. Understand the 10 principles of economics and how they tie together the consumer with society. Scope and Sequence Document Economic Concepts, Individual Markets, and Measuring Output U.S. in the global economy Refer to page 1 for all the 1. International Linkage TEKS for the Second Six 2. the U. S. and World Trade Weeks of the Semester. 3. Specialization and Comparative Advantage 4. Foreign Exchange Market 5. Government and Trade 6. Multilateral Trade Agreements Measuring domestic Output, national Income and the Price Level 1. Gross Domestic Product a. expenditures approach b. income approach 2. National Accounts 3. Nominal GDP versus Real GDP 4. Consumer Price Index Chapters 1-5 Chapters circular flow 2. business cycle Understand the theory of comparative economic advantage Economic Growth and Instability 1. Economic Growth FR Question

3 First Six Weeks and explain how people benefit from economic interdependence. Explain the efficiency of markets, and the costs of taxation, and the benefits of international trade. Describe the forces that in the long run determine the key real variables, including growth in GDP, savings, investments, real interest rates, and unemployment. Know how nations interact with other nations and how it is described by trade balance, net foreign investments, and exchange rates. Scope and Sequence Document Economic Concepts, Individual Markets, and Measuring Output 2. The Business Cycle 3. Unemployment 4. Inflation 5. Redistribution Effects of Inflation 6. Effects of Inflation on Output Inflation who benefits?

4 Second Six Weeks The student will continue with the concepts of National Income, Employment and fiscal policy. Be able to explain how government actions affect the way companies deal with economic growth and decline. Understand the 10 principles of economics and how they tie together the consumer with society. Explain how the economy coordinates interdependence economic actors, through the market force of supply and demand. Know the concept of consumer and producer surplus. Understand Savings, Investments, and the financial system and how they are interactive in our society. Describe how our government system determines what variables are used in determining Unemployment Rate. Describe the forces that in the long run determine the key real variables, including growth in GDP, savings, investments, real interest rates, and unemployment. Explain the short-run effect of monetary and fiscal policy, and Scope and Sequence Document Aggregates, Fiscal Policy, and Money and Banking Aggregate Expenditures Model 1. Consumption and Saving 2. Average and Marginal Propensities 3. Investment 4. Equilibrium GDP 1A, 1B 2A, 2B, 2D 3A, 3B 4A, 4B 5A, 5B 6A, 6B 7A 8A, 8B 10A, 10B 11A, 11B, 11C 13A 15A, 15B 16A, 16B 17A, 17B, 17C 18A, 18B 19A, 19B, 19C 20A, 20B 21A, 21B 23A, 23B, 23C, 23D, 23E, 23F, 23G 24A, 24D 25A, 25B 26A, 26B, 26C, 26D 27A Aggregate Expenditures 1. Changes in Equilibrium GDP and the Multiplier 2. International Trade and Equilibrium Output 3. Equilibrium versus Full Employment Aggregate Demand and Aggregate Supply 1. Aggregate Demand Chapters investment demand 2. short-run aggregate supply 3. long-run aggregate supply Authors John Danielson Juan Jimenez Richard Yekel Michael De La Garza Nina Natanson David Warden Jeffrey Pierce

5 Second Six Weeks the short-run linkage between real and nominal variables. Understand short-run economic fluctuations. Know how the model of aggregated demand and aggregate supply explain short-run economic fluctuations. Scope and Sequence Document Aggregates, Fiscal Policy, and Money and Banking 2. Determinates of Aggregate Demand 3. Aggregate Supply 4. Determinates of Aggregate Supply 5. Equilibrium: Real Output and the Price Level 6. Changes in Equilibrium Fiscal Policy 1. Fiscal Policy and the AD-AS Model a. Expansion b. Contraction 2. Built-In Stability 3. Evaluating Fiscal Policy Chapters investment demand 2. short-run aggregate supply 3. long-run aggregate supply Refer to Page 1 of this Second Six Weeks Document for all the TEKS.

6 Second Six Weeks The student will analyze and explain the functions of money, how the banking system works and monetary policies. Students should be able to understand terms related to individual consumers and businesses. Be able to explain how government actions affect the way companies deal with economic growth and decline. Explain the efficiency of markets, and the costs of taxation, and the benefits of international trade. Understand how the monetary system is crucial in determining the long-run behavior of the price level, the inflation rate, and other nominal variables. Explain the short-run effect of monetary and fiscal policy, and the short-run linkage between real and nominal variables. Scope and Sequence Document Aggregates, Fiscal Policy, and Money and Banking Refer to Page 1 of this Second Six Weeks Document for all the TEKS. Money and Banking 1. Functions of Money 2. Supply of Money 3. Demand for Money 4. Money Market 5. Federal Reserve and Banking Systems Monetary Policy 1. Consolidated Balance Sheet of the Federal Reserve Banks 2. Tools of Monetary Policy 3. Monetary Policy, Real GDP and the Price Level 4. Effectiveness of Monetary Policy Principles of Macro- by Gregory Mankiw AP Chapters money market 2. loanable funds market

7 Third Six Weeks The student will continue with the concepts of National Income, Employment and fiscal policy. Students should be able to understand terms related to individual consumers and businesses. Understand the 10 principles of economics and how they tie together the consumer with society. Understand the theory of comparative economic advantage and explain how people benefit from economic interdependence. Know the concept of consumer and producer surplus. Explain the efficiency of markets, and the costs of taxation, and the benefits of international trade. Know how nations interact with other nations and how it is described by trade balance, net foreign investments, and exchange rates. Know the long-run model of open economics and how it explains short-run economic fluctuations. Scope and Sequence Document Economic Growth, Productivity, and The International Economy Raising Productivity: Real Output and Capital Formation A.) Human Capital Formation 1.) Growth as a goal 2.) Ingredients of Growth B.) Physical Capital Accumulation C.) Research and Development, Technological Progress D.) Public Policy and Long-Run Economic Growth 1A, 1B 2A, 2B 3A, 3B 4A, 4B 5A, 5B 6A, 6B 7A, 7B 8A, 8B 9A, 9C 10A, 10B 11A, 11B 12A, 12B 13A, 13B, 13C, 13D 14A, 14B 15A, 15B 16A, 16B 17A, 17B, 17C 18A, 18B 19A, 19C, 19D 20A 21A, 21B 22A 23A, 23C, 23D, 23F, 23G 24A, 24C, 24D 25A, 25B 26A, 26B International Trade and Finance A.) Why Nations Trade at All B.) Comparative and Absolute Advantage C.) Free Trade Versus Protectionism 1.) Arguments for free trade 2.) Arguments against free trade D.) The Balance of Payments 1.) Current account 2.) Capitol account 3.) International debt of the United States E.) Exchange Rates 1.) Supply and demand for foreign exchange 2.) Current fluctuations a.) appreciation and depreciation b.) graphing currency changes Chapters 9-13 Money Market Case Study- NCEE Jr. activity FR Questions Vicious Circle of Twin Deficits - Reff Authors John Danielson Juan Jimenez Richard Yekel Michael De La Garza Nina Natanson David Warden Jeffrey Pierce

8 Third Six Weeks The student will analyze and explain the functions of money, how the banking system works and monetary policies. Be able to explain the basic principles of the U. S. free enterprise system. Be able to explain how government actions affect the way companies deal with economic growth and decline. Be able to compare the free enterprise system of the United States with the systems of other countries. Scope and Sequence Document Economic Growth, Productivity, and The International Economy Comparative Economic Systems Refer to page 1 for all the TEKS for the Second Six Weeks of the Semester. Basic Types of Economic Systems 1.) Traditional, command, and market economies defined and analyzed 2.) The mixed economy of today 3.) Capitalism and socialism: basic tenets 4.) Comparing the systems Comparing Developed and Developing Countries Classifying countries by GDP per capita a.) problems with classification How to sustain economic growth in developing countries a.) national resources b.) policy making Implications for a changing world Chapters Capital Inves. NCEE FR Question Henry Ford Case Study Case Study GDP FR Question Exchange Rate Lesson -FR International Trade Lesson FR Question

AP Macroeconomics. You can use whichever format you want. Web view is recommended -- the responsive design works seamlessly on any device.

AP Macroeconomics. You can use whichever format you want. Web view is recommended -- the responsive design works seamlessly on any device. AP Macroeconomics Instructor Mrs. Crisler Room 428 Office Hours 2:42-3:15 M,T,W,TH 2:00-3:15 F E-mail jcrisler@satsumaschools.com Phone 380-8190 Twitter Joy Crisler @ shsgovteach Economics : Macroeconomics