CURRICULUM MAP
Course/ Subject: Microeconomics – dual enrollment
Grade:
10-12
Essential Questions
Why is it important to understand economics?
How does economics and microeconomics apply to and impact everyday lives?
What factors impact economics of a country and globally?
Transfer tasks
Students will apply materials learned to a simulated production facility and demonstrate an understanding of economic factors of
production.
In an activity, students will apply their skills in building a structure to demonstrate their knowledge of costs, profit and time.
CURRICULUM MAP
Course/ Subject: Microeconomics – dual enrollment
Grade:
10-12
Month: September
Pennsylvania State BCIT and PA State Economic Standards: 15.6.12.F: Evaluate criteria for personal spending in relation to the
economic climate.
15.6.12.A: Evaluate the impact of internal and external influences on financial decisions.
15.6.8.A: Reference Economics 6.1.12.A – D
6.2.12.A: Evaluate the flow of goods and services in an international economy.
6.1.12.A: Predict the long-term consequences of decisions made because of scarcity.
Content
Pre test
Skills
Students will have an introduction the
topics covered for the full year
Unit 1 – Introduction to economics and the
economy
Students will be able to define economics
and the role of economics
Ch. 1 – Limits alternatives and choices
Students will demonstrate a knowledge of
supply and demand
Students will recognize and demonstrate
purposeful behavior
Economic perspective
Micro and Macro economics
Individuals economizing problem: Wants
vs. needs
Societies problem: scarce resources vs.
unlimited wants
Students will recognize benefits and costs
As well as limited income and unlimited
wants and be able to graph Marginal cost
and Marginal benefits
Be able to understand and graph resources
and wants and how one impacts the other
Unemployment growth and the future
Differentiate between micro and macro
economics
Students will recognize tradeoffs an
opportunity costs
Assessment
To determine a base line of knowledge and
to measure against assessments at mid-year
and end of year
Prior knowledge quiz: Using the Khan
academy videos on economics students
will view a 4 to 9 minute video for
homework (2 days to one week to complete
viewing) and be quizzed on the video to
give a basis for prior knowledge before the
start of each chapter or major topic. For
future reference in this map, this will be
referenced as Khan video and quiz
Written conclusion/summary on “missing
chairs” activity.
Khan video and quiz: Opportunity cost
And Good time or good grade?
Formative assessments: demonstrate the
impact of supply and demand on benefits
and costs using an activity of “bidding” for
services/products
Summative assessment: Chapter 1
CURRICULUM MAP
Course/ Subject: Microeconomics – dual enrollment
Grade:
10-12
Month: October:
Pennsylvania State BCIT and PA State Economic Standards: 15.6.12.F: Evaluate criteria for personal spending in relation to the
economic climate.
15.6.12.A: Evaluate the impact of internal and external influences on financial decisions.
15.6.8.A: Reference Economics 6.1.12.A – D
6.2.12.D: Predict how changes in supply and demand affect equilibrium price and quantity sold.
6.2.12.A: Evaluate the flow of goods and services in an international economy.
Content
Unit 1 – chapter 2
The Market System and Circular Flow
Economic systems
Five fundamental economic questions
Skills
Students will be able to answer the
question; why some geographical areas
have more relative income than others
referencing the circular flow model
Students will be able to answer the five
fundamental economic questions and be
able to demonstrate that knowledge
through an activity
Assessment
Formative assessment: Khan Academy
and quiz: circular flow of income and
expenditures
Formative assessment: Research activity
and answer questions of the Five
fundamental economic questions.
Summative test chapter 2
Chapter 3: Supply, demand and market
equilibrium
Supply
Demand
Students will be able to apply the
knowledge of supply and demand and the
cause and impact of changes in supply,
demand or both
Formative assessment: There are four
Khan Academy videos students will view
for this topic:
Law of supply, Law of demand, factors
affecting supply, factors affecting demand
Summative assessment
Market equilibrium
Course/ Subject: Microeconomics – dual enrollment
CURRICULUM MAP
Grade:
10-12
Month: November
Pennsylvania State BCIT and PA State Economic Standards: 15.6.12.F: Evaluate criteria for personal spending in relation to the
economic climate.
15.6.12.A: Evaluate the impact of internal and external influences on financial decisions.
6.3.12.B: Assess the government's role in regulating and stabilizing the state and national economy.
15.6.8.A: Reference Economics 6.1.12.A - D
Content
Skills
Unit 1 Chapter 4
The Us Economy: Public and private
sectors
Households as income receivers and
spenders
Business population
Legal forms of business
Public sector: Governments role in the
economy – redistribution of income
Federal finances and influence on the
economy
Assessment
Khan academy video: and formative quiz
Students will be able to research and
critically analyze and draw conclusions
from data gathered concerning the public
sector and governments role in an
economy
Using a rubric, students will submit a three
to five page paper on the “redistribution of
income” using the three methods of
redistribution and determining its
“fairness” or “ economic justice” using
economic justification for that position.
CURRICULUM MAP
Course/ Subject: Microeconomics – dual enrollment
Grade:
10-12
Month: December
Pennsylvania State BCIT and PA State Economic Standards: 15.6.8.A: Reference Economics 6.1.12.A – D
6.2.12.D: Predict how changes in supply and demand affect equilibrium price and quantity sold.
6.2.12.A: Evaluate the flow of goods and services in an international economy.
Content
Skills
Assessment
Finish chapter 4
Unit 2 Microeconomics of product markets
Chapter 6: Extensions of supply and
demand analysis
Elasticity of supply and demand
Short run and long run
Consumer and producer surplus
Chapter 7 consumer behavior and utility
maximization
Consumer behavior
Utility maximization
Applications of consumer behavior and
utility maximization
Students will recognize what impact
factors have on the pricing of a product in
both a short run and long run
Students will be able to determine the
impact of taxes on prices of a product, its
impact on the elasticity of a product (or
inelasticity) and make reasonable
assumptions about the benefits or cost of
taxation to a product
Khan Academy videos and quiz on: 1)
Elasticity of demand, 2) perfectly elastic
and 3) inelastic demand, 4) cross elasticity,
and 5) elasticity of supply
Formative assessment: Worksheet on
elasticity
Formative assessment: Quiz on elasticity
Summative assessment Chapter 6
Khan academy video and quiz: Allocative
efficiency and marginal benefit
CURRICULUM MAP
Course/ Subject: Microeconomics – dual enrollment
Grade:
10-12
Month: January
Pennsylvania State BCIT and PA State Economic Standards: 15.6.8.A: Reference Economics
6.5.9.B: Describe how productivity is measured and identify ways in which a person can improve his or her productivity.
6.5.9.D: Analyze how risks influence business decision-making.
6.1.12.B: Evaluate the economic reasoning behind a choice. Evaluate effective allocation of resources for the production of goods
and services
Content
Finish chapter 7
Skills
Students will be able to demonstrate an
understanding of what “drives” consumer
behavior and how consumers maximize
their satisfaction or utility of a product
Chapter 8
Production and costs of production
Economics costs
Short run production relationships and
costs
Long run production costs
Applications of information
Students will participate in various
activities illustrating the cost of production
and factors that influence production
Assessment
summative assessment on consumer
behavior and utility maximization
Formative assessment: Khan academy: 1)
Marginal cost and total cost, 2) Marginal
revenue and marginal cost, 3) fixed,
variable and marginal cost
Participation in paper chain activity in
Students will participate in an activity that “producing” products and drawing
will require decision making and critical
conclusions from class activity
thinking skills to assemble an object for the
least cost and the most profit
Summative assessment: Chapter 8
CURRICULUM MAP
Course/ Subject: Microeconomics – dual enrollment
Grade:
10-12
Month: February
Pennsylvania State BCIT and PA State Economic Standards: 15.6.8.A: Reference Economics
6.2.9.G: Compare and contrast various economic systems.
6.2.12.B: Analyze the effect of changes in the level of competition in different markets.
Content
Finish chapter 8: Cost of Production
Skills
Assessment
Marshmallow toothpick Tower/building
activity
Summative assessment chapter 8
Chapter 9, 10 & 11
Pure competition
Pure monopoly
Monopolistic competition
Oligopoly
Students will be able to distinguish
between the various types of competition
in a free market
Students will demonstrate an
understanding of the basic types of
competition by taking an active role in an
activity demonstrating various forms of
competition.
Formative assessment: Khan Academy
videos on 1) Pure competition, 2) Pure
monopoly, 3) Monopolistic competition, 4)
Oligopoly
Quiz after each assignment
Summative assessment: Test on chapters
9, 10, 11,
CURRICULUM MAP
Course/ Subject: Microeconomics – dual enrollment
Grade:
10-12
Month: March
Pennsylvania State BCIT and PA State Economic Standards: 15.6.8.A: Reference Economics
6.5.12.F: Assess the impact of entrepreneurs on the economy.
6.5.12.G: Analyze the risks and returns of various investments.
6.5.12.D: Analyze the role of profits and losses in the allocation of resources in a market economy.
6.5.12.B: Evaluate how changes in education, incentives, technology, and capital investment alter productivity.
6.5.12.E: Compare distribution of wealth across nations.
6.5.12.A: Analyze the factors influencing wages.
6.5.9.H: Explain the impact of higher or lower interest rates for savers, borrowers, consumers, and producers.
Content
Finish Chapters 9, 10 and 11
Chapter 12 : technology and efficiency
Role of entrepreneurs and innovation on an
economy
Skills
Assessment
Summative assessment: Test on chapters
9, 10, 11,
Students will be able to identify the
difference between invention, innovation
and technology diffusion
Formative assessment: Prior knowledge:
You Tube Video on technology and
efficiency. Associated quiz
Formative assessment: Khan academy:
profit and technology and quiz
Profit Vs. innovation
Students will demonstrate how
entrepreneurs and other innovators further
technological advances
Technologies advances and efficiency
Creative destruction
Why R&D and innovation benefits
companies even if competitors copy
Research and development impact in an
economy
Why creative destruction is both good and
bad but ultimately benefits and economy
Unit 3 Microeconomics of the resource
markets
Entrepreneur activity with rubric
Summative assessment Chapter 12
Chapter 13 – the demand for resources
Determinants of resource demand
Elasticity of resource demand
Optimal use of resources
Chapter 14 – Wage determination
Labor, wages and earnings
Students will demonstrate a knowledge of
resource pricing
Formative assessment: Khan academy: the
resource market and quiz
Students will demonstrate a knowledge of
factors the increase or decrease resource
demand and increase or decrease resource
demand
Summative assessment: chapter 14
Students will demonstrate knowledge of:
Formative assessment: ACDC video wage
determination with quiz
Why productivity and compensation track
closely over time
Theory of income distribution
Wage differentials
How wages are determined in a
competitive labor market
Types of pay/income
Causes of wage differentials
Minimum wage controversy
How unions impact wages
Research paper with rubric: minimum
wage controversy and should or shouldn’t
there be a minimum wage backed up by
sound economic data.
Summative assessment: Chapter 14
Students will demonstrate knowledge in
Economic “rent” and how it is determined
A fundamental knowledge in the setting of
interest rates and the impact on the
economy
Summative assessment chapter 15
Course/ Subject: Microeconomics – dual enrollment
CURRICULUM MAP
Grade:
10-12
Month: April
Pennsylvania State BCIT and PA State Economic Standards: 15.6.8.A: Reference Economics
6.3.9.C: Compare and contrast the taxation policies of the local, state, and national governments
6.3.12.C: Evaluate the social, political, and economic costs/benefits of potential changes to taxation policies
Content
Chapter 15 - Rent interest and profit
Skills
Students will demonstrate knowledge in
Economic “rent” and how it is determined
Economic “rent” and how it is determined
A fundamental knowledge in the setting of
interest rates and the impact on the
economy
Loanable funds theory of interest rates
Assessment
Summative assessment chapter 15
Interest rates, risk, loan size and taxability
Chapter 16 – Government and market
failure and
Chapter 17 – Public choice theory and the
economics of taxation
Students will recognize the difference
between public and private goods
Students will be able to perform a cost
benefit analysis involving externalities
Public and private goods
External factors in economics
Students will examine how information
failures can cause government intervention
in markets
Khan academy: Positive and negative
externalities and quiz
Khan academy: Taxes and negative
externalities and quiz
Summative assessment on government and
market failure
CURRICULUM MAP
Course/ Subject: Microeconomics – dual enrollment
Grade:
10-12
Month: May
Pennsylvania State BCIT and PA State Economic Standards:
6.3.12.A: Evaluate the costs and benefits of government decisions to provide public goods and services.
6.3.12.B: Assess the government's role in regulating and stabilizing the state and national economy.
6.3.9.B: Examine how and why the government acts to regulate and stabilize the state and national economy
Content
Chapter 20 Income inequity and poverty
Facts about income inequity
Skills
Income inequity over time
Students will be able to identify and
explain
How income inequity if measured and
described
The economics of poverty
The extent of income inequity
The UIS income maintenance system
Changes in income inequity
Welfare and welfare reform
How poverty is measured by various sub
groups
Causes of income inequity
Assessment
Khan academy: Income and a quiz
Paper: If you were a US leader, what could
be done or what would you do to
minimize/eliminate poverty in the US?
Summative assessment Chapter 20
The major components of income
maintenance in the US
Final project
Create a music video (similar to the AP
Econ videos seen in class) on a Micro
topic
Review for the final
Will need to review course content to
determine content of video
Rubric for the assignment and a viewing of
the video
Final exam given on date assigned to the
department
CURRICULUM MAP
Course/ Subject: Microeconomics – dual enrollment
Grade:
10-12
Month: June
Pennsylvania State BCIT and PA State Economic Standards:
6.1.9.A: Analyze how choices are made because of scarcity.
Content
(for students remaining)
Chapter 21 – The economics of healthcare
The twin problems: Costs and Access
Skills
Students will demonstrate and
understanding the tradeoffs the US
economy, businesses and government must
make in providing health
Assessment
Paper: Critical thinking Opinion paper,
Given the scarcity of resources, what can
be done to optimize the scarce resources
for providing medical benefits to US
citizens? Use rubric and opinion
grounded in scarcity of resources.