While you are here at Strongsville High School, economics will be one of the few social studies courses you will take that has to with the here and now. Understanding how our economic system works and being able to operate within it to your advantage will surely help you in the pursuit of happiness. The focus is on the basic principles concerning production, consumption, and distribution of goods and services in the United States and a comparison with those in other countries around the world. Students examine the rights and responsibilities of consumers and businesses. Students analyze the interaction of supply, demand, and price and study the role of financial institutions in a free enterprise system. Types of business ownership and market structures are discussed, as are basic concepts of consumer economics. 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 regarding the national economy and economic policy is an integral part of the course. Students apply critical- thinking skills to create economic models and to evaluate economic-activity patterns.
- Unit 1: Economic Basics and Systems: Introduction to Economics, What is Economics?, Economic Systems, American Free Enterprise, How Markets Work
- Unit 2: Supply and Demand: What shifts each, impact on price and output
- Unit 3: Business and Market Structures: Market Structure, Business and Labor, Business Organizations, Labor; Franchise Project!
- Unit 4: Monetary Policy: Origins and Functions of Money, The Federal Reserve, Monetary Tools, Expansionary/Contractionary Monetary Policy
- Unit 5: Fiscal Policy: Govt. Spending and Taxation, Deficit Spending and the National Debt, Expansionary/Contractionary Fiscal Policy
- Unit 6: GDP, Business Cycles and Growth: Measuring Economic Performance, Gross Domestic Product and Growth
- Unit 7: International Trade: Pros/Cons of International Trade, Comparative Advantage, Offshoring, Global Supply Chains