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Economics Honors Syllabus
White Plains High School
Textbook: Economics: 9th Edition (Colander)
Economics Course Description
This course is to provide students with a solid understanding of economic principles, systems, and activities, in order to fully participate as a citizen in the U.S. Free Enterprise System. This focus is on the basic principles concerning production, consumption, and distribution and services in the United States and a comparison with those in other countries around the world. The impact of a variety of factors including geography, the federal government, economic ideas from important philosophers and historic documents, societal values, and scientific discoveries and technological innovations on the national economy and economic policy is an integral part of the course.
First Assignment: Due TBD
Read Chapter One and complete the following:
1. Explain the fundamental economic problem.
2.Describe the three economic basic questions every society must decide.
3. Which country leads in entrepreneurial activity? Why do you think this is the case?
Students will be able to do the following by the end of the class:
1. Discuss the basic economic problems faced by consumers in American society.
2. Discuss how businesses make economic decisions.
3. Discuss ways people invest money to save for the future.
4. Discuss how economic policy affects the individual, state, nation and world.
Topics of Study:
- Scarcity and Choice and Opportunity Cost and Trade Offs
- Microeconomic Concepts:
- Markets and Prices and Supply and Demand
- Macroeconomic Concepts:
- Gross Domestic Product, Aggregate Supply and Aggregate Demand
- Inflation and Deflation
- Monetary Policy
- Fiscal Policy
- International Economic Concepts
- Exchange Rates and the balance of payments
- International Aspects of Growth and Stability
- Cyber Economics
- The Growth of E-Commerce
Place within the Program of Study: Required for graduation.
Completion of assignments
1) All assignments except notes and tests must be typed, double-spaced, or will not be accepted.
2) All assignments will be turned in on time or early. Late assignments will receive a 65 and need to be turned in two weeks BEFORE the end of the quarter. Late assignments that count as a test grade will drop a letter grade for each day it is late.
3) Chapter Presentations will occur every Thurs. Choose Chapter and partners the first week of class.
4) Every Friday. Bring the article to class and be prepared to discuss it. Print ahead of time. It is due at the start of class.
Choose: Sept 12th (Ch 2), 19th (Ch 3), 26th (Ch 4), Oct 3rd (Ch 5), 10th (Ch 6), 17th (Ch 7), 24th (Ch 8), 31st (Ch 9), Nov 7th (Ch 10), Nov 14 (Ch 11), Nov 21 (Ch 12), Dec 5th (Ch 13), Dec 12 (Ch14), Dec 19 (Ch 15), Jan 9th (Ch 16), Jan 16 (Ch 17)
ALL assignments myst be typed.
Requirements for grades in first marking period of the Semester:
1) A Stock Market Project. Please see below for directions. We will start in class and the due date will be announced.
2) Individual assignments (2) (see below for more information). Due date to be announced.
NO EXCEPTIONS unless it's an emergency (DIRE)
Stock Market for 1st Marking Period of the Semester:
1) Select ten stocks from the New York Stock Exchange and chart their progress for 30 days.
2) Research each of the companies selected and write a one to two-page report on the stocks you chose. You should try to include the following:
A) History of the company (when founded, etc.)
B) What does the company do?
C) What are some of the major products/services that the company provides?
D) Other pertinent information you deem necessary
3) At the end of the three weeks, analyze each of the companies' performance. Would this have been a good investment? Why or why not?
Individual Assignments (To be completed in first marking period):
Choose only two of the following and complete them by the end of the quarter (due dates will be announced).
1. Compile a record of your economic activities for one week. What did you earn? What goods and/or services did you buy? At the end of the week, analyze your list. What were your economic needs? What were your economic wants?
2. Select ten common items for sale at local grocery stores. Compile a record of price changes, if any, in at least two different stores over one month. Analyze overall price changes and the variations from store to store. The objects chosen must be the exact same item (ex 10 oz. can of Campbell's chicken noodle soup).
3. Analyze how similar products are advertised on television or in newspaper advertisements. How does each try to create a demand for its product? Is price mentioned? Is non price competition important?
4. Study the classified section of a local newspaper for employment opportunities. Analyze the information for one week and present a report on job opportunities in your community.
5. Choose a business you would like to own and operate, and then decide whether it should be a sole proprietorship or partnership.
After giving this consideration, answer the following questions:
(a) what good or service would you like to provide?
(b) what types of skills or training could you bring to the business?
(c) what are the advantages and disadvantages of the ownership form you choose?
6. Survey the local stores in your community which honor credit cards. Which cards are used? At what kind of firm is each card used?
Compile the data collected and reproduce it in the form of a chart or table to indicate the number and type of firms that use credit cards. Analyze what you discovered and come to a conclusion about credit card usage.
7. Visit a local food store offering no-name generic items. Select 12 grocery items and compare the cost of generic, and several name brand goods. Be sure to compare items of equal size and packaging. Compare the cost per ounce, per serving or per unit price. Display the results in the form of charts. Include an analysis of your findings.
8. Obtain and fill out correctly the following applications:
Resume, credit card, car loan, college entrance, and financial aid. (Note: If there are other forms or applications you wish to fill out, see Dr. Garcia for the approval to substitute that application for one of those listed above.)
9. Prepare a budget for your senior year high school expenses. Include all possible expenses that you may incur during this school year. You should include the following expenses, but do not limit yourself to just these: dances, athletic events, graduation expenses (pictures, ring, announcements, obligations, dues, party, etc.), and educational trips. Analyze this budget. How will you pay for these? What savings do you have that can be used?
10. Prepare a budget for your post-secondary expenses. Include both expenses that you will incur as a senior as well as those throughout your college career. You should include the following expenses, but do not limit yourself to just these: College visits, Application fees, Testing fees (SAT, ACT, etc), Housing deposits, tuition, Matriculation/holding fees, and textbooks. Analyze this budget. How will you pay for these? What savings do you have that can be used?
Requirements for grades in the second marking period of the semester:
Two major projects
Project #1: In groups of three, complete an advertising project. Please see attachment for directions.
Project #2: In pairs, you must complete a budgeting exercise by planning to live on your own. You and your partner will complete together in class.
Group Project: Advertising project: Due Date to be announced.
Second Quarter of the Semester: (https://www.emaze.com/presentations/) to assist
Groups will be required to take a product and create an advertising campaign for the product. Products can be chosen, first come first serve. The product should be an item rarely seen in advertisements. There will be five parts to this project. There will be a group grade and this will count as a test.
1. The group must create a 30 second television commercial using video.
2. The group must create a 30 second radio commercial using audio.
3. The group must create a print advertisement for either, a newspaper, magazine or billboard. Students may use computer graphics to produce this assignment.
4. A written report telling why the group decided to do what they did, how they did it, the audience that was targeted, and other pertinent information (1-2 pages).
5. Prepare and present an oral presentation of your work to the class, including viewing the video, listening to the radio commercial and seeing the print advertisement. All group members must participate. The presentation should be at least 10- 15 minutes.
When working on your advertisements, remember the following:
1. What is your target audience (sex, age, economic status, etc.)
2. Where/when will this advertisement be shown?
Partner Project Second Marking Period of Semester: Living on Your Own - Due Date to be announced. Plan living on your own by finding a job, place to live, making a budget etc.
1. a. For find a job: follow use the links below.
Links to help you find a job: http://www.mynextmove.org/
Links for Salary and Cost of Living
Link to calculate salary: www.myfuture.com , type in career choice in search box, and click the career tab above it.
b. Then after you do this, go to the following site to find out cost of living in two different states. Have fun; pick two different states and cities that you would be interested in living. Be creative. List the cost of living in those two states.
Example: NY, NY: $100,000 San Diego, CA: $63,112
Price difference in San Diego, CA
Groceries 12% less
Housing 50% less
Utilities 8% less
Transportation 3% less
Health Care 7% less
c. Find out how much you would make after taxes: https://smartasset.com/ (Calculate my income taxes based on location)
Word Document number all for example
- Names of partners
a. Job and salaries
- b. White Plains, NY: salaries for both, San Diego, California: salaries for both and difference in cost of living (amount of money needed to sustain a certain level of living, including basic expenses such as housing, food, taxes and health care. Cost of living is often used to compare how expensive it is to live in one city versus another locale.) Groceries, housing, etc.
- (See above for 1 b)
- c. Amount made after taxes
2. Find a place to live. Choose to either rent or buy a place. If you rent, you have a landlord and you do not own the house. If you buy a house, you need to mortgage your property, put money down (down payment, $20,000 or so) and an average interest rate 4%. Use the classified of local papers or http://www.realtor.com/ or http://www.century21.com/
Mortgage calculator: http://www.mortgagecalculator.org/
3. For preparing a budget: look for a site online or use Budget sheet. Your monthly budget should include you and your spouse’s or partner’s monthly income. Amount spent on food, clothes, TV/Cable, internet, entertainment (movies, eating out, concerts, dancing/clubbing…) light/electric, gas/oil for heat, child care, other (specify), rent/mortgage (rent is different from a mortgage). A mortgage payment is usually payable to the bank, place where you borrowed the money, while rent is payable to your landlord (you don’t own the house). You must have at least one child.
Helpful Sites: http://www.thesimpledollar.com/preparing-a-budget-ten-tips-for-making-that-budget-successful/ Budget sites: http://mappingyourfuture.org/money/budgetcalculator.cfm and
An example (find a budget and download into excel to complete this section) i.e.: Budget sheet:
Income (list both you and your partners):
Rent/Mortgage (specify which one): $1000
6. Create a vision board with your partner (You should create one together). Images, phrases, quotes that depicts your desires. Work, Home, Family, Personal, etc. Use Pinterest, Word, or PPT document or real cardboard if you like. (minimum of 10 images and 5 quotes).
7. Write at least a two paragraph reflection each about this project. For example, you can discuss how you and your partner made decisions together, how you created the budget, found a job, etc.
You will hand in a portfolio including all of the above. Number your portfolio. This must be typed. If it is not, one letter grade will be dropped. This counts as a test grade. Enjoy. Have fun. It will help your average.
Lastly, include pictures of the home where you reside, your children if you like (birth certificates or adoption papers use google….), your family, car…. Be creative. Use the web/magazines.
You will work in partners and will be graded as a pair.
• Binder with loose leaf paper and dividers, extra paper
• Pocket Folder
• Pencils and colored pencils
• Additional materials may be required for specific projects; students will be notified in advance.
Required Classroom Procedures:
• Come to class on time. Chronic lateness will result in a phone call home and a reduction in your class- grade if you miss work or hand it in late.
• Cutting: Cutting class is not allowed and will not be tolerated. Anyone cutting class should expect a phone call home and a missed opportunity to complete tests, quizzes, classwork which will lower your grade
• Come to class prepared, be ready to learn. Remember it is your future for which you are preparing. Bring all required materials everyday textbook, notebook, pencils, highlighters, and dictionary. If additional materials are required for specific projects students will be notified in advance.
• Turn in all assignments on time, late assignments will receive a reduction of a letter grade for each day it is late and after 5 days will receive a 65. Students who have excused absences will have three days following their return to complete all missed assignments. Students who have extended excused absences should contact their guidance counselor and teacher for make-up work as soon as they realize they will be missing a substantial amount of school work. (For example extended illness, funerals etc.)
• Obey the Student Code of Conduct; adhere to all rules in the Student Code of Conduct. Respect yourself and others.
Economic Games: https://www.icivics.org/games/peoples-pie, https://www.icivics.org/games/crisis-nations, https://www.icivics.org/games/counties-work, http://www.practicalmoneyskills.com/assets/games/ff/, https://www.icivics.org/games/immigration-nation , http://senseanddollars.thinkport.org/games/dreamprom/home.html and http://www.practicalmoneyskills.com/play#
• Assessments 50% - tests, quizzes, journals, projects, etc
• Classwork and participation 35% - class work, written work
• Homework 15% - self-directed work done outside the classroom
Parent(s)/ Guardians please sign and date this paper to indicate that you have read the class syllabus and that your student and you have no problems adhering to the policies and procedures that are listed. I am looking forward to meeting you at Back to School Night. Thank you in advance for your parental involvement.
Student Name ________________________________________________________
Parent(s) /Guardian Signature___________________________________________