COURSE GUIDE FOR ECONOMICS 

MR. POTTORFF, 2010-2011

1. Challenge Projects:
• Service Hours: You must complete an average of 10 hours (20 total hours for the semester) per nine-week grading period volunteering at a local service-based organization.  You will find a list of contact information & organization names on the bulletin board in Social Studies Resource if you need help.  You WILL need to complete pre & post experience reflections to receive full credit.  All necessary forms can be obtained from me.
• Creative Project: I have a materials list available that you can use to spur your creative juices.  The only limitation is that you address a topic that deals with economics in some way.
• Book Report: Read a teacher-approved book related to economics & complete a 5-6 page critical analysis of it.  This may not sound appealing at first glance, however, I have a list of books that range the gamut from traditional books on theory to economic murder mysteries that you can use.
• Out-of-Class Activity: I will discuss the details in class.

2. Classroom Rules:

• Do not talk while I am talking.
• Do not talk while your classmates are talking during discussions, activities, etc. (they will often say wiser things than I).
• Treat all others in the class with respect at all times.
• Treat all materials in this room, the library, the computer lab, etc, with respect at all times.
• Always come to class prepared & ready to have fun.  This means that you bring your book, folder, HOMEWORK, writing utensils, etc., EVERY day.  Another daily companion of yours should be an open & inquisitive mind.
• PARTICIPATE, PARTICIPATE, PARTICIPATE.  You certainly don’t want to hear me ramble on for 45 minutes every day.  This class is for YOU; please make the most of it.  I will talk about appropriate participation in its varied forms in class.  I reserve the right to grade on your level of participation at any time, announced or unannounced.
• Do not cheat, sleep during class, or blame things on someone or something else when it is actually your fault.
• Follow all rules not covered here that are in the Columbus East High School student handbook.
• MR. POTTORFF’S HOMEWORK POLICY:

3. Course Projects:
• Stock Market Game: This will run for 10 weeks.  We will use a web-based simulation & you will work in groups of five.  Your team receives $100,000 in “play” money & the team with the highest portfolio value at the end receives extra credit.

4. Grading Policies:
• You will be responsible for keeping an up-to-date grade sheet.  Most of you are probably familiar with these already; however, we will go over them at some point to assure that everybody knows what to do.  WHY ARE THEY SO IMPORTANT?  I will be collecting them every three weeks for a 20-point grade each time. 
• I will use the Columbus East Social Studies Department grading scale that can be found at the top of your grade sheet to assign all letter grades.
• Any absences that are preplanned should be brought to my attention so that I can provide you with makeup work to complete while you are gone.
• You will be given one day to make up work for any single day unexpected absence.  If you miss multiple days unexpectedly you will be given two-three days to make up your work depending on the given circumstance.

COURSE OUTLINE (SYLLABUS)

FIRST PART OF CLASS  (MICROECONOMICS)

A. Introduction to Economics

• Course Introduction
• Basic Vocabulary of Economics: Scarcity, Opportunity Cost, Factors of Production, Etc.
• Types of Economic Systems & the Circular Flow of Economic Activity
• Goals of US Economy & Characteristics of Capitalism
• Advantages/Disadvantages of the Following: Sole Proprietorships, Partnerships, & Corporations

B. Demand, Supply, & Equilibrium

• Demand: Laws of Demand & Diminishing Marginal Utility, Substitutes & Complements, & Elasticity
• Supply: Laws of Supply & Diminishing Returns
• Equilibrium: Surplus/Shortage, & Shifts in Demand & Supply Curves

C. Investing & Stocks

• Savings & Investment Options: Bank Accounts, Certificates of Deposit, Roth IRAs, Etc.
• Stock Market Basics: Working Vocabulary of Wall Street, Investment Videos, Broker Presentation
• STOCK MARKET GAME (SMG)

D. Competition, Market Structure, & Role of Government

• Characteristics of the Following: Pure Competition, Monopolistic Competition, Oligopoly, & Monopoly
• Types of Mergers & Government Regulation of Monopolies
• Primary Functions & Roles of Government in the US Economy
• Regulatory Agencies of the Government

SECOND PART OF CLASS (MACROECONOMICS)

E. Government Spending & Taxes

• Government Expenditures: Where Does All the Money Go?
• National Debt & Deficit Spending
• Balancing the Budget: Why Is it So Difficult?
• Various Types of Taxes

F. Give the Economy a Checkup

• GDP, Real GDP, & the CPI
• Business Cycle Basics
• Causes & Consequences of Inflation
• Aggregate Demand & Aggregate Supply
• Measuring Unemployment, Types of Unemployment, & the Concept of “Full Employment”

G. Money, Banking, & the Fed

• Origins & Functions of Money
• Structure & Functions of the Federal Reserve System
• Controlled Expansion of the Money Supply & the Tools of the Fed

H. International Trade & Currency Exchange

• Absolute & Comparative Advantages
• Trade Barriers (Tariffs, Quotas, Etc.)
• FREE TRADE VS. PROTECTIONISM CONGRESSIONAL SIMULATION
• Fixed vs. Flexible Exchange Rates