Economics Syllabus
2013-2014
Cornerstone Charter Academy
Miss Kelsey Evans
“The economy depends about as much on economists as the weather does on weather forecasters.”
~Jean-Paul Kauffmann
TEACHER INFORMATION:
Academics:
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Undergraduate Degree: The Florida State University; Bachelor of Arts, History
Graduate Degree: University of Central Florida; Masters of Arts in Teaching, Social Science
Education
Contact Information:
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Email: kevans@cornerstonecharter.com
If you have any questions regarding the course, please do not hesitate to call or email. I will respond in
an orderly fashion, and will facilitate with any needs the student may have.
COURSE DESCRIPTION:
The goal of Economics is to increase students’ financial literacy, and to sharpen their critical thinking and
analytical skills regarding the structure of the American economic system. The focus is on economic
principles, with an emphasis on the efficient allocation of resources through the market forces of supply
and demand.
COURSE OBJECTIVES:
Student will:
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Discuss the basic economic problems faced by consumers in American society
Discuss how businesses make economic decisions
Discuss ways people invest money to save for the future
Discuss how economic policy affects the individual, state, nation, and world.
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COURSE EXPECTATIONS:
BEHAVIOR: In addition to following the Cornerstone Charter Academy code of conduct, students are
expected to follow the expectations listed below. Consequences for disrupting the learning
environment will result in a verbal warning initially and then parental contact.
1.
class)
READY for class each day (in class on time with materials and homework due at the beginning of
2.
RESPECTFUL of the instructor, classmates, and school property (professional attitude,
cooperative, not disruptive, cell phones off and out of sight)
3.
RESPONSIBLE in completing the work to the best of their ability (participate in class, be aware of
due dates, be prepared for exams, take ownership of learning, do own work – cheating and plagiarism
will not be accepted and will result in a zero grade)
COURSE TEXTS AND READINGS:
Textbook:
Economics: Principles and Practices, (2013) The Mcrgraw-Hill Companies, Inc.
Supplemental Reading:
Freakonomics: A Rogue Economist Explores the Hidden Side of Everything (Levitt/Dubner)
Students need to purchase supplemental reading texts as soon as possible. They are available
through the Orange County Library System, or students may purchase them online at Amazon
for a small fee. It does not matter what edition or year the book is, the only qualm that there
would be is if you do not have your own individual copy. I will be doing book checks throughout
the year, and if you do not have your copy of Freakonomics, this will result in a deduction of
points from your grade.
Although I will not be a stickler on what edition you have, I thought it might be helpful if I
provided the product information on the edition that I have.
PRODUCT INFORMATION:
Paperback: 315 pages
Publisher: William Morrow Paperbacks; 1 Original edition (August 25, 2009)
ISBN-10: 0060731338
ISBN-13: 978-0060731335
Other Materials:
Applicable power point presentations, videos, and various handouts.
GRADING:
Grades are necessary within academics because they provide data related to the course being taken.
One common way of grading is based on a total point system. Within a total point system, a student has
the ability to earn a certain number of total points which will be allotted by the teacher. The actual
number of points earned is compared to the total possible points in order to determine the student’s
grade. This system will be applied during the 2013-2014 academic year. The Grade Requirements section
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breaks down the point system further, and how each student can achieve points for the upcoming
semester. The point system will also be combined with the grading scale:
Grading Scale:
A= 90-100
B= 80-89
C= 70-79
D= 60-69
F= below 60
GRADE REQUIREMENTS:
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Projects: 6 projects; 100 Pts each- further instructions and rubrics will be given out as deadline
approaches. Dates: TBA
Project 1: MONTHLY BUDGET PROJECT
With personal debt levels continuing to rise and responsibility increasing for funding one’s own
retirement, it is vital that students leave high school with a strong foundation in the major
components of personal finance. Students who have been exposed to these projects are
reported to have returned after graduation to tell their teachers that they refer to the exercises
in this portfolio during adulthood.
Project 2: CREATE YOUR OWN BUSINESS
This will be a fun, creative group project geared toward the understanding of Business
Organizations. After the teacher assigns the groups, the students will be choosing what product
they would like to market for their business. This will include a Market Plan, and Commercial
Activity.
Project 3: MICROECONOMICS GROUP PROJECT
The purpose of this project is for you to try out microeconomic tools on the "real world."
This project challenges you and your group to apply economic concepts to a story from the
business press or the situation facing a business.
Project 4: WALLSTREET- STOCK MARKET GAME
Your grade on the project will consist of the following items, each weighted equally.
1.
Research on one of your five original stocks, turned in on time.
2.
Successfully setting up your online portfolio.
3.
Completing each of the assigned updates of your portfolio in class by bringing a printout
of your portfolio.
4.
Completing at least four trades during the course of the game.
Project 5: FEDERAL RESERVE COMPETITION
Students will be divided into teams. Teams play the role of monetary policymakers by analyzing
current economic conditions and recommending a course for monetary policy.
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Project 6: GLOBALIZATION PROJECT
You have been invited by the Minister of Youth Affairs to present a report outlining the views of
young people on the issue of globalization, and whether or not the United States should support
a policy of globalization. Your assignment is to create a Power Point or poster on globalization,
its impact on the United States and on the world.
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Reading Assignments: 50 Pts Each Assignment; Total 350 Pts
The students will be reading the book, Freakonomics, which asks students to explore the
“hidden side of everything”. The students will begin to understand that there really are
incentives to just about everything; by reading through a total of six chapters that range from
various topics from sumo wrestlers to organized crime. With each chapter they will be
answering questions that challenge them to think like an economist, and what actually could be
the incentive behind naming your daughter “Charlotte” as opposed to “Precious”? This will be a
wonderful and intriguing introduction to economics, as we go through the fall semester.
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Participation: 25 Pts
Students are expected to contribute in class discussions and effectively participate in class
activities. This is also included in a student’s class grade; therefore participation in the class is
critical. Students who are “on the border” between grades at the end of the semester may be
given the higher grade if their overall participation has been commendable.

Homework: 25 Pts
Various assignments will be given throughout the year. They will challenge the student’s critical
thinking skills, build their analysis, content knowledge, and writing skills. Students should be
prepared, and turn in assignments in an orderly fashion on the given due date.
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Mid-Term: 200 Pts
Students will take a mid-term over what has been covered. The testing will be multiple choice,
and will include a writing section. The writing portion of the test will vary; it may be DBQ style
(i.e. Document Based Question) or free response. Either way students should be prepared for
the exam by studying over ALL materials covered.
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Final Exam: 200 Pts
The Final Exam will be cumulative over all the Units that we have covered over the semester. It
will be in essay format, and will be conducted in a similar style as that of a college exam. This is
to prepare you for next year, as many students are interested in pursuing post-secondary
education.
*Missed Exams*
Students who are absent on a test day must make up the test on the day they return to class. If a
student is absent for an extended period, an appointment for making- up the test will be made.
Complete loss of credit for an exam may result if the exam is not completed in a timely fashion.
*Late Work*
High School – Allow for two days from the date in which the grade was posted in progressbook. Grade
will be 50% off if turned in late.
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*Attendance*
Absences, should be limited to illness and emergencies. If you are an excused absence from class you
will have the amount of days you are out, plus one to make up your missing assignments. Unexcused
absences, are not required to be given make up work and will be given permission upon instructor
approval. Regular attendance, participation in classroom discussions and critiques of student work.
Diligent work on assignments is essential. To receive full credit, all assignments are due on time.
ACADEMIC DISHONESTY:
Any student caught in “dishonest” behavior- i.e. plagiarizing, cheating, etc…- will result in an automatic
zero for the assignment, failure for the quarter, semester, or year; or if so severe expulsion from the
school. Academic dishonesty is unethical, but also prevents proper learning and success in an
educational environment.
COURSE OUTLINE:
~First Nine Weeks~
I.
Class Introduction
Topic: Required Instructional and Professional Procedures
II.
UNIT 1-Fundamental Economic Concepts
Assignments: Chapter 1-What is Economics?; Chapter 2-Economic Systems and Decision Making;
Outside Reading: Freakonomics: Chapter 1
Topics:
o Concepts
o Understand Production possibilities curve
o Specialization
o Productivity
o Adam Smith
o Compare Market Structures
o Economic Goals of the U.S.
o 3 Economic Questions
o Circular Flow Diagram
Vocabulary:
o Choice
o Scarcity
o Opportunity costs
o Tradeoffs
o Land, labor, capital, entrepreneurship
o Division of labor
o Microeconomics
o Macroeconomics
o Positive statements
o Normative statements
o Production possibilities frontier
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III.
Personal Finance
Assignments: Outside Reading: Freakonomics Chapter 2, and supplemental articles; Project 1:
Monthly Budget Project
Topics:
o Credit
o Credit cards vs. debit cards
o Savings
o Types of investments
o Stock Market
o Types of Loans
o FDIC
o Securities and Exchange Commission
o Budget and Credit Plan
Vocabulary:
o Financial system
o Financial markets
o Stock
o Bond
o Financial intermediaries
o Mutual fund
o Budget surplus
o Budget deficit
o Present value
o Future value
o Compounding
o Risk aversion
o Diversification
o Efficient market hypothesis
IV.
Business Organizations
Assignments: Textbook- Chapter 3; Outside Reading- Begin Freakonomics: Chapter 3; Project 2Create Your Own Business
Topics:
o Types of business organizations
o Four phases of the business cycle
o Characteristics of the four market structures
o Price and non-price competition
o Contributors of entrepreneurs
o Government regulation of monopolies
Vocabulary:
o Economies of scale
o Diseconomies of scale
o Constant returns to scale
o Fixed costs
o Variable costs
o Diminishing marginal product
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Total revenue
Total cost
profit
market
Average revenue
Marginal revenue
Average revenue
Sunk cost
Natural monopoly
Price discrimination
V.
Microeconomics: Prices and Markets
Assignments: Textbook- Chapter 4-7; Outside Reading: Begin Reading Freakonomics Chapter 4;
Project 3-Microeconomics Individual Project
Topics:
o Gross National Product
o Gross Domestic Product
o Types of Unemployment
o Deregulation
o Affirmative Action
o Collective Bargaining
o Right to Work Law
o Labor Force
o Human Capital
o Worker productivity
o Minimum Wage
Vocabulary:
o Consumption
o Investment
o Government purchases
o Net exports
o Nominal GDP
o Real GDP
o GDP Deflator
o Natural rate of unemployment
o Cyclical unemployment
o Frictional unemployment
o Structural unemployment
o Collective bargains
o Union
o Efficiency wages
VI.
Economic Institutions and Issues
Assignments: Textbook- Chapter 8-11; Outside Reading-Freakonomics Chapter 5; Work on
Project 4: Wallstreet Stock Market Game
Topics:
o Employment, Labor, and Wages
o Sources of Government Revenue
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Government Spending
Financial Markets
Vocabulary:
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Craft union
Trade Union
Industrial Union
Lockout
Closed shop
Glass ceiling
Minimum wage
Current dollars
Sin tax
Sales tax
Medicare
Payroll withholding statement
Capital gains
Flat tax
VII.
Macroeconomics: Performance and Stabilization
Assignments: Textbook- Chapters 12-15; Outside Reading- Freakonomics Chapter 6; Project 5:
Federal Reserve Competition
Topics:
o Characteristics and functions of money
o Inflation
o Federal Reserve (operation and organization)
o The Federal Reserve and Monetary Policy
o Taxation
o Wage and price controls
o Federal spending/the deficit
o The Government and Fiscal Policy
Vocabulary:
o Price ceiling
o Price floor
o Tax incidence
o Deadweight loss
VIII.
The Global Economy
Assignments: Textbook- Chapters 16-18; Outside Reading- Freakonomics Conclusion; Project 5:
Federal Reserve Competition
Topics:
o Barter
o Absolute Advantage
o Comparative Advantage
o Opportunity Cost
o Specialization
o Imports
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Exports
Trade Barriers
Outsourcing
Capital Flow
Exchange Rates
Externalities
Vocabulary:
o
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IX.
World price
Tariff
Import quota
Review/Special Topics
Assignments: Freakonomics Documentary Questions
Topics: All materials will be reviewed for the upcoming exam
Disclaimer Statement:
The information in this syllabus may be modified as needed by the teacher. Students will be notified in
class or via internet.
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ECONOMICS
2013-2014
Student and Parent Contract
DUE: FRIDAY, August 30, 2013
Student Agreement
I have read and understand the Syllabus and will do my best to follow what is expected of me.
_____________________________
Printed Student’s Full name
___________________________
Student Signature
___________
Date
_______________________________________________________________________________
Student’s email address
(please print neatly)
Parent Agreement
I have read and understand the Syllabus and will do my best to assist my child by: helping him/her to
stay up with assignments, encouraging a positive attitude toward school and productive work ethic, and
communicating with the instructor concerns that affect my child’s academic success.
Parents, by no means are you to do your child’s work. Feel free to guide and check work, but help your
child take responsibility for his/her own learning. Having your child teach you is an excellent means of
helping! It’s best to encourage independence, not foster dependence. Please address any concerns you
have concerning your child on the back of this form. Please email me! It helps tremendously if I need to
contact you. Please include your name, child’s name and period number. Thank you. I look forward to
working with your child this year!
________________________________ ______________________________
Printed Parent’s Full Name
Parent Signature
__________________________________________________
Parent’s email address
(please print neatly)
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__________
Date
__________________________
Parent’s phone contact number