Name:____________________________________
Block:___________
Unit 1 – ECONOMICS (MICRO)
Learning Targets
How will it be
addressed?
Text Sect/Pages
Question to Answer
1) Chapter 1 – What is Economics? - Define the
fundamental economic problem; difference in needs
and wants
2) Analyze the 3 Basic questions societies must
answer
3) Interpret the Factors of Production and the scope of
economics
Ch1/S1/PG 6
Read, Lecture, Video,
Group work
Define the fundamental
economic problem?
Ch1/S1/PG 7
Read, Discussion
Explain the 3 questions
societies must answer?
Ch1/S1/PG 8-10
Read, Lecture,
Discussion,
4) Identify the Basic Economic Concepts; Value &
Utility; Circular Flow; Economic Growth
Ch1/S2/PG 13-17
Read, Lecture, Video,
Group work
List and provide an
example of each of the
factors of production.
Interpret the concept of
Paradox of Value.
5) Describe the economic choices required when
making decisions for an economy.
Ch1/S3/PG 19-25
6) Chapter 2 – Economic Systems and Decision
Making - Identify and explain the types of economic
systems; examples, advantages, disadvantages
7) Evaluate Economic Performance with goals; Decide
tradeoffs based on goals
Ch2/S1/PG 33-41
Read, Lecture,
Activity, HW PG28
#18-28
Read, Group Skits –
Developing an
Economy, Discuss
Predict a logical
economic choice
scenario.
Explain the differences in
the types of economic
systems.
Ch2/S2/PG 43-46
Read, Discussion,
Notes
8) Interpret the American Free Enterprise;
Characteristics; Roles
Ch2/S3/PG 48-53
9) Should Minimum Wage be increased?
PG 30-31,
Graphic
Organizer
Ch3/S1/PG 61-70
Read, Lecture, Group
work, HW PG56
#17-27
Read, Discussion,
Debate, Persuasive
Essay
Create a scenario in
which the govt might be
required to make
decisions between goals.
Explain Free Enterprise.
10) Chapter 3 – Business Organizations - Describe
the types of Business Organizations; How to Form
each, advantages, disadvantages
Read, Groups-Create
Business Plan
11) Methods for Growing a Business
Ch3/S2/PG72-77
Read, Lecture
12) Describe nonprofit organization; examples
Ch3/S3/PG79-83
Read, Lecture,
Discussion,
HW PG86 #21-29
Should Minimum wage
be increased why?
Select 1 type of business
organization and explain
why a business would
choose this type.
Interpret a method for
growing a business.
Name a type of nonprofit organization and
explain their role?
KEY TERMS
1) Scarcity
6) Utility
11) Opportunity Cost
2) Economics
7) Paradox of Value
12) Economic System
16) Social Security
17) Free Enterprise
3) Entrepreneur
8) Factor Market
13) Socialism
18) Unlimited
Liability
9) Product Market
14) Communism
5) Value
10) Trade-Offs
15) Minimum Wage
19) Dividend
20) Stock
4) Gross Domestic Product
Activities/Videos/Instruction
Video – Nature of Economy
Video- Operation of Economy
Create a Business Plan
Debate – Minimum Wage
Developing an Economy Skit
JOURNAL
Each day you will journal in this section of your notebook answering these
questions about today’s learning targets:
August 5, 2014
1) Journal Question will be provided on a daily basis in which you will log the
question and answer it in your journal.
a. Journal Question Answer
2) GOTS: What did I learn or GET from today’s lesson.
3) NEEDS: Something from today’s lesson that you need or would like to
know more about.
4) Costa Question: (Create a Question from today’s lesson using Costa Levels
of learning and provide the answer.)
a. Costa Question Answer:
CONCEPT MAPS
Key Terms will be due upon completion of the unit, so each day you will need to
complete an appropriate number to stay on pace for the end of the unit.
1) Key Terms will be done in the form of a concept map. A concept map
includes the word, text definition, min of 3 synonyms’, picture, and the
definition in your own words that will help you remember it on the tests.
2) Example:
Definition from
text/notes
Min of 3 synonyms
Word
Picture
Definition in your own
words that will help you
remember it for the test.
NOTES
Cornell style notes (do not rewrite the chapter) Limit to 1-2 pages, with a minimum
of 5 sentence summary will be due for each chapter in the unit. Write a good
summary that lets me know you understand, this will limit the amount of notes
you have to take.
HOMEWORKS
Homework assignments can be found on this learning target handout. One
homework for each chapter will be required.