Semester Economics 2nd Quarter Plan Supply & Demand- understand the relationship between price, quantity supplied, and quantity demanded. Understand and apply the determinants that shift the Supply and Demand Curves. o I will examine the law of demand by uncovering evidence of the law in my own life. o I will create my own demand schedule and graph my own demand curve. o I will examine the law of supply by uncovering evidence of the law in my own life. o We will list the determinants of demand (TRIBE) and supply (OTTERS). o We will explain how each of the demand and supply determinants cause their curves to shift. Markets, Equilibrium, & Priceso I will understand how to determine market equilibrium. o I will be able to find equilibrium price using a supply-and-demand graph. o I will distinguish between the demand and supply determinants to determine equilibrium price and quantity when demand or supply shift Market Structures- Perfect Competition, Monopolistic Competition, Oligopoly, and Monopoly o I will understand the characteristics of competitive and uncompetitive markets. o I will describe the effects of competition on producers, sellers, and consumers o I will explain how Externalities and Public Goods are examples of Market Failure o I will describe the effects of competition on producers, sellers, and consumers. Money- three functions and six characteristics of money. o I will understand the three major functions and six characteristics of money. o I will explain the function of banks and how they make money. o I will evaluate various “client profiles” and determine the best savings plan for each individual. o I will understand the pros and cons of various banking situations. o I will create my own savings plan. OTTW Project, Post-High School Blueprint o Students will make a decision about whether attending college is the best choice for them and justify their choice. o Students will create a presentation that compares all of the costs and all of the benefits of a college education. Business Organizations- Sole proprietorship, Partnership, Corporation, Franchise, and Nonprofit. o We will compare the costs and benefits of different forms of business organizations, including sole proprietorship, partnership, corporation, franchise, and nonprofit. o I will present information on one business organization to the class. Government & the Economy o We will demonstrate knowledge of the role of government in a market economy by providing examples of government regulation in the economy. o We will relate our knowledge of the 7 economic goals to explain the role of government in our market economy.