Lemont Township High School
Course Syllabus
Course: Economics (ECO) 101
Business Economics
Credit: 1/2
Schedule: Block Schedule
Fall Semester
Instructor:
Mr. Goergen
Room Number 318A
ktgoerg@lhs210.net
Lemont High School
800 Porter Street
Lemont, IL 60439
Philosophy of Teaching
As an educator, I believe in focusing on individual needs, and involving students in the process
of their learning. I also believe that all students have strengths, and that is the goal of education
to assist students in identifying and building upon these. Overall, I believe in a student center
approach, which enables me to reach out to them and spread my knowledge to them. The
students will learn by how I interact with them and describe how the knowledge of each lesson
can be used in the real world (economy). Students will be performing a significant amount of
group work because I believe they will be using this type of sharing each other thoughts in their
future. For example, the business world we live in today consists mostly of employees working
together to have a success in their business.
Course Description
This course focuses on the American economic system, covering fundamental economic
concepts, comparative economic systems, microeconomics, macroeconomics, and international
interdependence. The knowledge from this course will hopefully allow the student to analyze
critically and to make decisions concerning public issues. The student will earn 1/2 credit by
receiving a C or better in this course.
Learning Standards
Learning Standards for this course (ECO101):
1. The student will explain why limited productive resources and unlimited wants result in
scarcity, opportunity costs, and trade-offs for individuals, businesses, and governments.
2. The student will compare and contrast different economic systems and explain how they
answer the three basic economic questions of what to produce, how to produce, and for whom to
produce.
3. The student will explain how productivity, economic growth, and future standards of living
are influenced by investment in factories, machinery, new technology, and the health, education,
and training of people
4. The student will explain how the Law of Demand, the Law of Supply, prices, and profits work
to determine production and distribution in a market economy.
5. The student will explain how markets, prices, and competition influence economic behavior.
6. The student will explain the organization and role of business and analyze the four types of
market structures in the U.S. economy.
7. The student will explain the role and functions of the Federal Reserve System.
8. The student will explain why individuals, businesses, and governments trade goods and
services.
Source= NBEA Teaching Website
http://www. nbea.org
Prerequisite
Student must have successfully completed Algebra I. Students should have completed Algebra I
with a C or better since they will be working with math necessary to complete economic word
problems. This course is open to the grades 11-12.
Course Objectives
Upon the successful completion of this course students will be able to understand the principle of
supply and demand, identify the benefits and limitations of our society’s price system, explain
how markets are competitive (how they are regulated), and understand the different economic
systems used throughout the world.
Course Rationale
This course is designed to provide students with knowledge to develop an economic way of
thinking.
Required Class Materials and Text
Materials: This course requires students to have a spiral notebook, pocket folder or binder folder,
pens, and pencils.
Textbook: “Principles of Economics” by N. Gregory Mankiw
Student Expectations
Students are expected to attend class everyday and be on time. To ensure success in this course
the student must participate and voice his/her well developed opinion during classroom
discussions and lectures. The use of cell phones, profanity, damaging of a textbook, eating food,
and side conversations with other students that does not relate to the subject being discussed will
not be allowed. The student will first receive a verbal warning from me first; after receiving this
warning and the student keeps performing the same action points will be deducted from his/her
score.
Course Requirements
Classroom Procedures: The classroom procedure will be a combination of lecture and hands on
activities. The assignments will be collected at the beginning of class. It is the student’s
opportunity to test his/her knowledge of the chapter material and the chapter reviews after we
complete each chapter. Students are urged to ask questions when present in class. Power Points
will be visible for students when lecturing is taking place in class. Students should be ready to
answer questions that are brought up in class concerning the assigned material and are
encouraged to ask questions about the material. Students will be called on randomly during the
class time so be awake and prepared.
Many students find that preparation for this class requires 1 or more hours of personal productive
study outside of the class for each class period in order to achieve success. Each student is
different in effective study habits and the above is given only as a guideline. Some students may
require more time, others much less. Evaluate your understanding of the material and make
adjustments as the class progresses.
Exams/Assignments: Exams will be primarily objective in style and include multiple choice
questions, true false, and matching. In addition, a short essay question could be included to test
your understanding of the material. Make up exams will be given in rare circumstances. The
student must contact me directly before the original exam date and time to discuss the possibility
of a make-up exam. This class will consist of 5 assignments as well, which will test the student’s
knowledge on what has been covered in class and also the readings. These assignments can be
worksheets, projects, or even group related activities. Cheating will not be tolerated. If a student
is seen or if there is evidence that a student has been cheating on a test or assignment, that
student will receive a grade of ZERO on that exam or assignment.
Attendance Policy
A great deal of material is covered in this course and attendance is absolutely essential for
thorough and proper understanding of course concepts. Attendance will be taken at each class.
Each student will be allowed 2 no-questions-asked absences. Being late to class can definitely
have a negative effect on your grade. A portion of the student’s grade does involve attendance,
which can have a negative or positive outcome on a student’s grade. Attendance consists of
Attendance/Promptness, Level of Engagement in Class, Behavior, and Preparation.
Grading Policy
Grades will be determined on the basis of total points earned during the semester.
The point distribution is:
Assignments (5 @ 30)
Exams (3 @ 80)
Participation
Total Possible Points
150
240
16
406
Extra Credit: An amount of 3-5 points may be made available throughout the semester as extra
credit. Do not depend on extra credit to help your grade significantly.
Final Grade for the Course
Letter grades for the course will be assigned as follows:
A 90% - 100%
C 70% - 79%
F Below 59%
B 80% - 89%
D 60% - 69%
Tentative Schedule Below
Tentative Schedule
Session
/Week
Dates
Course Objectives
to be Uncovered
Class 1
Week 1
Wednesday, August 18, 2010
Syllabus Day
Friday, August 20, 2010
Topic: Resources &
Unlimited Wants
Tuesday, August 24, 2010
No Class
Class 4
Week 2
Class 5
Week 3
Thursday, August 26, 2010
Topic: Opportunity
Cost
Class 6
Week 3
Class 7
Week 3
Wednesday, September 1, 2010
Friday, September 3, 2010
Topic: Scarcity
Class 8
Week 4
Wednesday, September 8, 2010
Participation
Discussion
Class 9
Week 4
Friday, September 10, 2010
Class 10
Week 5
Class 11
Week 5
Tuesday, September 14, 2010
Topic: Law of
Demand
Thursday, September 16, 2010
Topic: Law of Supply
Class 12
Week 6
Monday, September 20, 2010
Class 13
Week 6
Wednesday, September 22,
2010
Participation
Discussion
Topic: Movement
vs. Shift
Class 14
Week 6
Friday, September 24, 2010
No Class
Tuesday, September 28, 2010
Topic: Relationship
of Supply & Demand
Thursday, September 30, 2010
Topic: Price &
Quantity
Class 17
Week 8
Monday, October 4, 2010
Topic: Visual
Representations
Class 18
Week 8
Wednesday, October 6, 2010
Participation
Discussion
Class 2
Week 1
Class 3
Week 2
Class 15
Week 7
Class 16
Week7
Monday, August 30, 2010
Assignments/Exams
Assignment #1 Due
"What is Economics"
Topic: Wants vs.
Needs
Topic: Basic
Questions Towards
Production
Assignment #2 Due
"What to Produce"
Exam #1
Assignment #3 Due
"Supply & Demand"
Class 19
Week 8
Friday, October 7, 2010
Participation
Discussion
Class 20
Week 9
Wednesday, October 13, 2010
Topic: Economic
Behavior
Class 21
Week 9
Friday, October 15, 2010
Class 22
Week 10
Tuesday, October 19, 2010
Topic: Competition
Class 23
Week10
Class 24
Week 11
Thursday, October 21, 2010
Participation
Discussion
Monday, October 25, 2010
Topic: Stock Market
Class 25
Week 11
Wednesday, October 27, 2010
Class 26
Week 11
Class 27
Week 12
Friday, October 29, 2010
Topic: 4 Market
Structures
Topic: Function of
Federal Reserve
Exam #2
Wednesday, November 3, 2010
No Class
Class 28
Week 12
Friday, November 5, 2010
Class 29
Week 13
Tuesday, November 9, 2010
Class 30
Week 13
Friday, November 12, 2010
Class 31
Week 14
Tuesday, November 16, 2010
Class 32
Week 14
Thursday, November 18, 2010
Participation
Discussion
Topic: Why
Individuals Trade
Goods
Topic: Why
Businesses Trade
Goods
Topic: Why
Governments Trade
Goods
Participation
Discussion
Class 33
Week 15
Class 34
Week 15
Monday, November 29, 2010
Topic: Price
Comparisons
Wednesday, December 1, 2010
Participation
Discussion
Class 35
Week 15
Friday, December 3, 2010
Topic: Inflation
Class 36
Week 16
Tuesday, December 7, 2010
Topic: Currency
Assignment #4 Due
"Market Structures"
Assignment #5 Due
"Regulating Price in
Society"
Thursday, December 9, 2010
Topic: Regulations
of Federal Reserve
Monday, December 13, 2010
Participation
Discussion
Class 39
Week 17
Wednesday, December 15. 2010
Topic: House
Mortgages
Class 40
Week 17
Friday, December 17, 2010
Practice Test
Class 41
Week 18
Tuesday, December 21, 2010
Class 37
Week 16
Class 38
Week 17
Exam #3