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High Economics

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Pre Requisites

Algebra 1 recommended

Description

This course satisfies the Florida Economics graduation requirement, but does NOT satisfy the Personal Financial Literacy graduation requirement. 

Economic decisions affect us every day of our lives. Understanding economics means thinking about how scarcity, or limited resources, requires us to make choices and evaluate our options. In this course, you will recognize examples of economics in your daily life. You will understand how the economic choices of larger groups, like businesses and governments, affect you and others. As you progress through the course, you will recognize that the costs and benefits of choices connect individuals and groups around the world. Access the site links below to view the Florida Department of Education description and standards:

Regular course description: http://www.cpalms.org/Courses/PublicPreviewCourse575.aspx

Honors course description: http://www.cpalms.org/Courses/PublicPreviewCourse577.aspx

Module 1 

  • How economics influences our daily lives
  • Three basic economic questions
  • Wants versus needs
  • Scarcity and opportunity cost
  • Law of Diminishing Marginal Utility
  • Cost-benefit analysis
  • Demand and supply
  • Equilibrium price
  • Functions and characteristics of the money supply
  • Money versus currency
  • Gross versus net income
  • Direct versus indirect taxes
  • Progressivity of taxes
  • Tax returns
  • Savings and checking accounts
  • Savings and investment types
  • Relationship between inflation, nominal interest rate, and real interest rate
  • Government's role in the investment market
  • Risk and rate of return on investments
  • Budgeting

Module 2 

  • Circular-flow diagram
  • Factors of production
  • Entrepreneurship
  • Contributions of entrepreneurs to the developing United States
  • Different forms of business organization
  • Characteristics of different market structures
  • Market competition
  • Productivity and marginal cost analysis
  • Factors that impact the earnings of workers
  • Production possibilities curves
  • Capital investments
  • Positive and negative externalities
  • Impact of externalities on consumers and society
  • Wage and price controls
  • Natural monopolies and the purposes of government regulation

Module 3 

  • Phases of the business cycle
  • Unemployment and inflation
  • Gross domestic product (GDP)
  • Tools and goals of fiscal policy
  • Debt, deficit, and surplus
  • National budget
  • Organization and functions of the Federal Reserve System
  • Relationships between consumers, banks, and the Federal Reserve System
  • Tools and goals of monetary policy
  • Theories of prominent economists
  • Traditional, market, command, and mixed economies
  • Role of society and culture in economic organization
  • Broad economic goals
  • Indicators of national economic health
  • Absolute and comparative advantage
  • Free trade and barriers to trade
  • Protectionism strategies
  • Consumer Price Index as a measure of inflation
  • Effects of inflation on different levels of society
  • International exchange rates

Besides engaging students in challenging curriculum, the course guides students to reflect on their learning and evaluate their progress through a variety of assessments. Assessments can be in the form of practice lessons, multiple choice questions, writing assignments, projects, research papers, oral assessments, and discussions. This course will use the state-approved grading scale. Each course contains a mandatory final exam or culminating project that will be weighted at 20% of the student’s overall grade.***

 

***Proctored exams can be requested by FLVS at any time and for any reason in an effort to ensure academic integrity. When taking the exam to assess a student’s integrity, the exam must be passed with at least a 59.5% in order to earn credit for the course.