Economics and Financial Literacy
Course Syllabus – Fall 2015
Mr. Kraus
Room 110
E-Mail – krauss@nclack.k12.or.us(preferred contact method)
*If submitting work digitally, you need to share through Google docs. Work will not be
assessed if emailed to teacher.
Web page is under teacher website on the school home page Clackamas HS
Course Description:
This course will provide students with an understanding of the way in which society organizes its
limited resources to satisfy unlimited wants. Students will be introduced to the major characteristics
of Economic systems and the dynamics of economic exchange. The course will specifically focus on
the dynamics of the mixed market economic system in the U.S., how basic economic questions are
answered , as well as the implications of a growing global economy. Emphasis will be placed on the
individual’s role as producer, consumer, saver and taxpayer in relation to the system and the global
implications.
Course objectives:
Students will:
-Examine the structure and functions of the US economy to analyze the impact of systemic decisions
on personal, local, regional, national and global economies.
-Examine the interdependence of economic systems and institutions and its effects upon individual,
local, regional, national, and global decision-making.
-Examine economic growth and use economic indicators to evaluate the condition of market
systems.
-Explain how changes in economic markets are related to availability of resources, production,
distribution, and technological developments.
-Analyze the allocation of scarce resources through individual choice, market interaction, and public
policy.
ESSENTIAL SKILLS EMPHASIZED:
- READING for comprehension and understanding with text and outside readings
- SUMMARIZE / SYNTHESIZE material from readings, discussions and / or notes
- ANALYZE / EVALUATE concepts from class to real world experiences / application
- ILLUSTRATE / DESCRIBE relationships forged in economic activities
- DISCUSS / EXPLAIN relationships of concepts of class.
- LISTEN AND PARTICIPATE in class activities, simulations, etc.
Textbook:
“Economics” O’Sullivan, Sheffrin & Wiggins
Prentice Hall
students will access text via internet only. Students who need added support of a physical textbook
will need to meet with teacher.
Assessment-Explanation of Proficiency
 This class is a proficiency-based teaching and learning model. This isn’t a significant shift from
traditional teaching and learning, but there are some important distinctions.
 Proficiency-based instruction and assessment is a way of teaching and reporting that focuses
on students demonstrating their learning of skills based on state and common core standards. The
primary goal is to increase transparency, to better assess and communicate what each student
knows, and to determine where each student needs to improve.
 Grading in a proficiency model looks at a student’s skills and his or her level of proficiency on
each skill within the standards.
 Working towards proficiency- In a proficiency model, assessments are designed to provide students
with feedback-via scoring guides for each standard-and students are encouraged to learn from
assessments and continue working until proficiency is reached for each standard. This means you can
re-take certain assessments.
 What is proficient? To be proficient a student must demonstrate all skill and knowledge requirements
of the given standard. Each standard has a common scoring guide that will be used for each assessment.
You will receive copies of each scoring guide that we will review as a class.
Grading Scale (Also see: “Pyramid of Proficiency”):
 The grading scale for Formative (practice/homework) and Summative (tests/quizzes) is as follows:
A (5-4.5) 100%-90% (Exceeding)
B (4) 89%-80% (Proficient)
C (3.5) 79%-70% (Progressing)
D (3) 69%-60% (Emerging)
 80% of your grade will be based on Summative Assessments
 20% of your grade will be based on Formative Assessments
PYRAMID OF PROFICIENCY
Social Studies-Steve Kraus-CHS

The student can remember, understand, apply,
analyze, evaluate and create information from
lesson or unit.
5
5
4.5
5
4
5
5
5
5
EXCEEDING
4.5
The student can remember, understand, apply
and analyze information from lesson or unit.
4
PROFICIENT
3.5
3
2
EMERGING
Priority Economics Standards:
Econ 46. Distinguish, between fiscal and monetary policies, and describe the role and function of the Federal
Reserve.
Econ 50. Explain how economic indicators (including, but not limited to GDP, unemployment, Consumer price
Index, inflation) describe the condition of the economy.
Econ 51. Explain how supply and demand represent economic activity and describe the factors that cause them
to shift. Define economic terms (eg. elasticity, substitution, regulation, legislation) and identify examples of
them in the current economy.
Econ 53. Describe the characteristics of command, market, traditional and mixed economies and how they
affect jobs and standards of living.
SSA 59. Demonstrate the skills and dispositions needed to be a critical consumer of information.
SSA 62. Propose, compare, and judge multiple responses, alternatives or solutions to issues or problems; then
reach an informed, defensible, supported conclusion.
Class Requirements and Procedures:
You are expected to be prepared for class. This means that you have read the required text assignment
using online text or check out text from library (On Reserve) and paper, and pencil each day. You will
be required to take and keep notes from lectures and class discussions. Keep in mind quiz, tests, and
exam questions will come from your text, lectures /notes and class discussions.
Late Work: ALL work for a particular unit will be accepted up to the day that YOU take the Unit
assessment, after that time, the assignment will be given zero credit. (Exceptions ONLY made by prearranged agreement between Teacher and student.)
Retakes: For all Unit Tests students will be able to retake. The retake will consist of the questions
missed on the exam and must be completed within a week of the test being returned to students. Retakes
are to be done on the student’s time, not during Economics class; therefore they must make an
appointment to retake tests. Times are the same as make-up test times.
Attendance & Make up Policy:
Attendance is critical for success in this class. It is the student’s responsibility to obtain missed work
(notes from lectures, handouts, etc.). PowerPoint notes and practice assignments can be found on my
class website.
Quizzes and tests must be made up within TWO WEEKS.
Make up time must be by appointment only.
Class Rules:
Be on time, two tardies equal written consequence and a call home and third tardy will result in a
referral.
No food, drink or gum in the classroom.
Respect yourself and others at all times.(including other classmates, teacher guests and speakers)
BE HONEST & AUTHENTIC ABOUT WHAT YOU KNOW. (Deception, Dishonesty & Plagiarism will
be dealt with according to school policy.(ZERO TOLERANCE)
Play an active role in the class discussions, note-taking, simulations and experimentation.
No electronic devices (i.e. cell phones, i-pods, etc.) should be used in the classroom during class time.
I actively enforce all school rules.
Extended Application:
Students will complete their requirements for EA during this class. Students will prepare their
portfolio for EA in this class and interview with an Administrator during this semester. Students are
expected to meet the deadlines for all EA components.
Course Outline
Unit
Fundamentals of Economics and the
Consumer
How can we make the best economic
choices?
How does society decide who gets
what?
What role does Government play in a
Market Economy
Markets and its Structure
How do we decide what to buy?
How do we decide what to produce?
How is price determined?
How does competition affect choices?
Money, Interest and Inflation
How do Financial institutions service
consumers & producers?
How do investments help consumers
/ producers?
What are the risks of investment?
What are the rewards of investment?
Government Interactions in EconomicsEconomic Performance
What is used to measure economic
performance of an Economic System?
How does unemployment affect the
consumer?
How does inflation impact ES?
Government Interactions in EconomicsEconomic Policies
How does taxation impact economic
functioning?
How effective is fiscal policy in
adjusting level of economic
functioning?
How effective is monetary policy in
adjusting level of economic
functioning?
International Trade
Should free trade be encouraged?
What are the costs and benefits of
free trade?
What are the costs and benefits of
economic development?
Text chapt’s length
CH. 1,2 &3
2.5 wks
CH. 4-6
CH. 7&8
CH.10.3, 11 &
supplement
CH. 12-14
CH. 17&18 &
supplement
STUDENT SIGNATURE____________________
PARENT SIGNATURE_____________________
Major concepts
Scarcity, Opportunity Cost,
Factors of Production,
Production Possibilities
Curve, Incentives and goals
Circular Flow Model,
types of Economic Systems
Comparative Advantage
2.5 wks. Supply, Demand, Elasticity
of Demand, Equlibrium,,
market shifts, Surplus,
Shortage
2 wks.
Market Structure, Business
Organizations, Labor
2 wks.
Banking, Investing
(investment tools),
Budgeting, Credit Cards,
Insurance
2 wks.
GDP, Unemployment,
Inflation, CPI, Business
cycles
3wks.
Taxes, Fiscal Policy, Budget
Deficit and Debt, Federal
Reserve, Monetary Policy
2 wks.
Trade Barriers, WTO, IMF,
World Bank, NAFTA,
Growth in Developing
Countries.
DATE__________
DATE__________