Economics
Course Summary
Master the fundamental economic concepts that shape every facet of our lives and the operations and institutions of economic systems. Explore microeconomics, macroeconomics, international and developmental economics, and gain a deep understanding of the American market system and factors that are unique to California’s economy. Students also learn valuable money management, investment, and critical thinking skills.
Course Prerequisite(s):
None. However, students should be able to analyze images, have basic math skills, write evidence-based essays, and think critically.
Curriculum
This is a 1-semester course.
Unit 1: Fundamental Economic Concepts and Reasoning
- Scarcity and Choice
- Opportunity Costs
- Economic Systems
- Market Economy
- Public vs. Private Goods
- History of Market Power in the United States
Unit 2: The American Market Economy
- The American Market Economy
- Adam Smith
- Supply and Demand
- The Role of Price
- Price Controls
- Financial Markets and Banks
Unit 3: Government Influence on the American Economy
- Costs and Benefits
- History of Government Involvement
- Environmental Protection
- Federal Budget
- Aggregate Demand and Supply
- Fiscal Policy
- Monetary Policy
- Federal Reserve Banking System
Unit 4: Labor Markets
- Work
- Competition in the Labor Market
- California's changing Labor Market
- Poverty and Income Distribution
- International Issues and Employment
Unit 5: Aggregate Economic Behavior
- Measuring Economic Activity
- Economic Goals
- Business Cycle and Short-Term Fluctuations
- Money and Currency
- Interest Rates
Unit 6: Global Economics
- Globalization and Trade
- Exports and Imports
- Globalization and Foreign Policy
- Critics of Globalization
- Economic Development