Huntsville City Schools
Instructional Guide 2015-2016
Course: Economics
Grade: 12th
The 9 weeks benchmark will have 4 questions for Standard 1 and 3 each for Standards 2,3,4,5 and 7
and 6 questions for Standard 6 for a total of 25 questions.
The semester exam will be cumulative with 10 questions total from Units 1 and 2, 3 questions each for
Standards 7, 8 and 6 questions each for Standards 9,10,11 and 12 for a total of 40 questions.
Standard
“I Can” Statements *
Resources
Unit One:
Standards
1,2,3,4,5
St. 1 I can explain why
productive resources are
limited and why individuals,
businesses, and
governments have to make
choices in order to meet
needs and wants
Prentice Hall Economics
Chapter 1, 2, 3
St. 2 I can explain how
rational decision making
entails comparing additional
costs of alternatives to
additional benefits
St. 3 I can describe
different economic systems
used to allocate scarce
goods and services
Essential Vocabulary:
Capital goods
Capitalism
Centralized Planning
Command, market, mixed economy
Competition
Consumer goods
Copyright
Deregulation
Economic Growth
Factors of Production
Investment
Land, Labor, Capital, Entrepreneur
Marginal analysis
Patent
Pacing
Recommendation
/ Date(s) Taught
8/4 – 8/28/15
Fall
1/5 – 2/02/16
Spring
Week 1 – 4
St. 4 I can describe the role
of government in a market
economy, including
promoting and securing
competition, protecting
private property rights,
promoting equity, providing
public goods and services,
resolving externalities and
other market failures, and
stabilizing growth in the
economy
Private property
Productivity
Profit motive
Regulation
Scarcity
Standard of living
Essential Economic Models:
Production Possibilities Frontier
(Curve)
Essential Formulas:
Marginal Benefit = Marginal Cost
St. 5 I can explain that a
country’s standard of living
depends upon its ability to
produce goods and services
Unit 2:
Standards 6,7
St. 6 I can describe how
specialization and voluntary
exchange between buyers
and sellers lead to mutually
beneficial outcomes
St. 7 I can describe the
organization and role of
business
Prentice Hall Economics
Chapter 4,5,6 and 7
Essential Vocabulary:
Antitrust laws
Cartel
Complements
Elastic
Elasticity of Demand
Elasticity of Supply
Excise tax
Fixed Cost
(Keep in mind
COS 2010)
8/31 – 9/30/15
Fall
2/3 – 2/29/16
Spring
Week 5 – 9
Income effect
Inelastic
Inferior Good
Law of Demand
Law of Supply
Macroeconomics
Microeconomics
Marginal Cost
Marginal Revenue
Market equilibrium
Minimum Wage
Monopolistic Competition
Monopoly
Nonprice competition
Normal good
Oligopoly
Perfect Competition
Price Ceiling
Price Discrimination
Price Floor
Shortage
Subsidy
Substitutes
Substitution effect
Surplus
Total Cost
Total Revenue
Unitary Elastic
Variable Cost
Essential Economic Models:
Demand Curve
Demand Schedule
Market Equilibrium
(9 wk.
benchmark held
at end of Unit 2)
Supply Curve
Supply Schedule
Essential Formulas:
Profit Maximization
Unit Three:
Standards 7,8,9
St. 7 I can describe the
organization and role of
business
St. 8 I can explain the
impact of the labor market
on the United States’
economy
St. 9 I can describe
methods used to measure
overall economic activity,
including the GDP, the
Consumer Price Index,
inflation, and unemployment
Prentice Hall Economics
Chapters 8, 9, 12,13
Essential Vocabulary:
Assets
Blue-collar worker
Bond
Collective Bargaining
Consumer Price Index
Corporations
Cyclical Unemployment
Deflation
Derived Demand
Dividend
Double taxation
Economic Growth
Frictional Unemployment
Full employment
Gross Domestic Product
Income Distribution
Inflation
Labor Force
Labor Union
Liability
Merger
Natural rate of unemployment
Nonprofit Organization
10/01 –
11/04/15
Fall
(Fall Break
10/5 – 10/9)
3/1 – 3/31/16
Spring
(Spring Break
3/21 – 3/25)
Week 10-12
(9 wks.
Benchmark)
Partnership
Poverty Rate
Productivity of Labor
Professional Labor
Right-to-Work Laws
Semi-skilled Labor
Skilled Labor
Sole proprietorship
Stock
Strike
Structural Unemployment
Technological Progress
Unskilled Labor
Wage
White-collar worker
Essential Economic Model
Business Cycle
Unit Four:
Standards
10,11,12
St. 10 I can explain the
structure, role, and
functions of the U.S. Federal
Reserve System
St. 11 I can explain how
the government uses fiscal
policy to promote the
economic goals of price
stability, full employment,
and economic growth
St. 12 I can explain why
individuals, businesses, and
Prentice Hall Economics
Chapters 14,15,16,17,18
(Use 10,11,12 as reference)
Essential Vocabulary:
Absolute Advantage
Appreciation
Automatic Stabilizers
Balanced Budget
Bank
Budget Deficit
Budget Surplus
Central bank
Classical Economics
Comparative Advantage
11/5 – 12/9/15
Fall
(Week out
Thanksgiving)
(Benchmark and
finals are
tentative for
Dec. 7-18)
4/01 – 4/29/16
Spring
governments trade goods
and services in a global
economy
Contractionary Fiscal Policy
Corporate Income Tax
Default
Demand Deposit
Depreciation
Discount Rate
Discretionary spending
Entitlement
Exchange rate
Expansionary Fiscal Policy
Export
Federal Budget
Federal Funds Rate
Fiat money
Fiscal Policy
Fractional Reserve Banking
Free-trade Zones
Import
Individual Income Tax
Interest
Keynesian Economics
Liquidity
Mandatory spending
Medium of Exchange
Monetary Policy
Money
Money Supply
Mortgage
National Debt
Open Market Operations
Progressive tax
Proportional tax
Regressive tax
Reserve Requirements
(Benchmark,
finals, and other
testing will run
between May 09
– 20 Keep in
mind with
Pacing)
Week 13 - 18
Sales tax
Store of Value
Tariff
Trade deficit
Trade surplus
Treasury Bond
Unit of Account
Essential Economic Model:
Exchange Rate Market
RESOURCES FOR TEACHING ECONOMICS:
1. St. Louis Federal Reserve: Econ Lowdown: interactive modules
https://www.stlouisfed.org/education
2. Council of Economic Education
http://www.councilforeconed.org/
3. Library of Economics and Liberty
http://www.econlib.org/library/Topics/HighSchool/HighSchoolTopics.html
4. Virtual Economics Lessons
http://ecedweb.unomaha.edu/K-12/ve.cfm
5. Share My Lessons
http://www.sharemylesson.com/high-school-economics-teaching-resources
6. Economics U$A: video series
http://www.learner.org/series/econusa/