This is an introductory course that covers important concepts in both microeconomics and macroeconomics. The primary goal is to develop your understanding of the concepts, tools, graphs, and approaches used by economists. Students will gain a better understanding of policy-making tools, market structures, the financial markets, and more. This course will help students to interpret economic news and economic data at a much deeper level, while also helping them to form their own opinions on economic issues. In addition, this course will provide a strong foundation for students who want to continue with advanced placement economics, international baccalaureate economics, and beyond. The analytical, logic, and graphing knowledge will provide students with marketable skills that are highly sought after by employers and will help students in many different academic areas.
Microeconomics focuses on how individual markets work. The emphasis is on how consumers make choices and how privately-owned businesses produce goods, set wages, and earn profits. Tools of analysis include supply and demand, profit maximization in competitive and monopolistic markets, and the tradeoff between incentives and equity in policy design.
Macroeconomics focuses on principles that apply to an economic system as a whole. The course places particular emphasis on the study of national income and price-level determination. It also develops students’ familiarity with economic performance measures, the financial sector, stabilization policies, economic growth, and international economics. Students learn to use graphs, charts, and data to analyze, describe, and explain economic concepts.
By the end of this course, students should:
- Understand economic terminology and analysis.
- Use supply and demand analysis to predict how businesses and consumers will respond to changing market conditions.
- Understanding profit maximization and cost structures for businesses
- Compare firms in different market structures – perfect and imperfect competition.
- Understand major economic indicators: Gross Domestic Product, Unemployment, Inflation
- Use the Aggregate Supply & Demand model to explain economic events and the economy.
- Understand policies to promote economic growth.
- Be ready for Advanced Placement, international baccalaureate, honors, or college economics.
Students and their parents will receive brief feedback after each class, via Teachworks, regarding the student’s general participation in class. Students will also receive feedback on graded assignments via email. At the end of the course, the student will receive a final report card, which thoroughly speaks to their overall participation in the course, including major assignments.
10 hours of classes, 90 minutes/class