| OUTCOME/
ESSENTIAL
QUESTION |
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1.
Why can't everyone have everything?
2. Why do we have different types of economic
systems? |
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1.
Scarcity
2. Economic Systems |
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1.
Problem of scarcity, why do people choose,
opportunity cost, fundamental economic decisions,
cost and benefits (B1I1, B1I2)
2. Traditional economy, command economy, market
economy (B3I1, B3I2, B3I3, B3I4, B3I5) |
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| Readings,
worksheet, computer programs, lectures, quizzes,
videos |
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1.
How are prices set in our market?
2. Why do people trade? |
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1.
Define supply and demand, equilibrium, factors of
demand, factors of supply, shifts in supply and
demand, invisible hand (B2I3, B2I4, B2I6, B2I7,
B3I3, B3I4)
2. Absolute and comparative advantages, trading
advantages and disadvantages (B5I1, B5I2, B5I3,
B5I4, B5I5) |
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| Readings,
worksheet, computer programs, lectures, quizzes,
videos |
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1.
Why do we use money?
2. What are the measures of the economy? |
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1.
Money and banking
2. Economic measures |
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1.
Problems of a barter system, what is money, what is
the money supply, Federal Reserve Board, how do
banks work (B2I1, B2I2, B2I5)
2. Define G.D.P. and how it is used. Define
unemployment and its types. What is full employment?
(B4I4) |
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| Readings,
worksheet, computer programs, lectures, quizzes,
videos |
|
| 1.
How does government affect our economy? |
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| 1.
Government and the economy |
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| 1.
Inflation and deflation, fiscal policy, monetary
policy, Supply side vs. Keynesian Economics, trade
and the economy (B4I1, B4I2, B4I3, B4I4, B4I5) |
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| Readings,
worksheet, computer programs, lectures, quizzes,
videos |
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