OCG - Economics H

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School District of Oconee County

Economics Honors

Course Number: 335000HH

This course is designed to acquaint students with those principles and concepts essential to an understanding of the American economics system. The course emphasizes economic policies and decision-making, the free enterprise system, market structure, macroeconomics, microeconomics, money and banking, non-banking financial institutions, business organizations, principles of trade and economic development, and consumer skills.This course will include intensive reading and writing assignments designed to analyze, interpret and synthesize at a higher level.

 

There are no prerequisites for this course.
There are no fees associated with this course.
  • Standard ECON-1: The student will demonstrate an understanding of how scarcity and choice impact the decisions of families, businesses, communities, and nations.
  • ECON-1.1 Explain that the practice of economic decision making is an evaluation process that measures additional benefits versus additional costs.
  • ECON-1.2 Explain why the productive resources of land, labor, and capital are limited.
  • ECON-1.3 Apply the concept that people respond to positive and negative incentives to past and current economic decisions.
  • Standard ECON-2: The student will demonstrate an understanding of how markets facilitate exchange and how market regulation costs both consumers and producers.
  • ECON-2.1 Illustrate how markets are created when voluntary exchanges occur between buyers and sellers.
  • ECON-2.2 Explain how efficient markets allocate goods, services, and the factors of production in a market-based economy.
  • ECON-2.3 Illustrate how competition among sellers lowers costs and prices.
  • ECON-2.4 Illustrate how an economically efficient market allocates goods and services to the buyers who are willing to pay for them.
  • ECON-2.5 Explain how business cycles, market conditions, government policies, and inequalities affect the living standards of individuals and other economic entities.
  • ECON-2.6 Explain how market power enables some market structures to affect their situations to varying degrees and to use this market power to increase prices and reduce output.
  • Standard ECON-3: The student will demonstrate an understanding of how government policies, business cycles, inflation, deflation, savings rates, and employment affect all economic entities.
  • ECON-3.1 Explain that institutions in a market economy help individuals and groups accomplish their goals.
  • ECON-3.2 Illustrate how money and the consequent banking system facilitate trade, historically and currently.
  • ECON-3.3 Explain how real interest rates adjust savings with borrowing, thus affecting the allocation of scarce resources between present and future users.
  • ECON-3.4 Use a circular flow diagram to explain how changes in economic activity affect households and businesses.
  • ECON-3.5 Explain how the federal government regulates the American economy in order to provide economic security, full employment, and economic equity.
  • ECON-3.6 Explain how economic indicators are used to evaluate changes in economic activity.
  • ECON-3.7 Illustrate the relationships among business cycles and unemployment, growth, price levels, wage rates, and investment.
  • ECON-3.8 Explain how the Federal Reserve regulates the amount of cash that banks can acquire and retain and therefore helps to provide a foundation for economic stability.
  • ECON-3.9 Exemplify how government, in a market economy, provides for services that private markets fail to provide and thus the costs of government policies often exceed benefits.
  • Standard ECON-4: The student will demonstrate an understanding of how trade among nations affects markets, employment, economic growth, and other activity in the domestic economy.
  • ECON-4.1 Summarize how differing factor endowments—such as geography, the development of technology, and the abundance of labor—affect the goods and services in which a nation specializes.
  • ECON-4.2 Explain how the United States specializes in the production of those goods and services in which it has a comparative advantage.
  • ECON-4.3 Explain how the rise of a global marketplace contributes to the well-being of all societies but the benefits derived from globalization are unequal.
  • ECON-4.4 Explain how a global marketplace influences domestic labor markets, wage rates, unemployment levels, and disparities in earning potentials.
  • Standard ECON-5: The student will demonstrate an understanding of how personal financial decisions affect an individual’s present and future economic status.
  • ECON-5.1 Explain how individuals make personal economic decisions and how current spending and acquisition of debt can impact future income.
  • ECON-5.2 Explain that income for most people is determined by the market value of the productive resources they sell.
  • ECON-5.3 Explain how wage rates for most workers depend upon the market value of what the workers produce for the marketplace.
0.5
Social Studies

Course Summary:

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