Learning Catalog

Economics/Economics Honors

Economics/Economics Honors

Credits .5

Competency Group Overview

Meets economics graduation requirement

Competencies

  • Macroeconomics
    Student will demonstrate an understanding of key macroeconomic concepts including the business cycle, monetary and fiscal policy, global trade, and externalities by analyzing the economic interactions between the government, its citizens, and the rest of the world.
  • Microeconomics
    Student will demonstrate understanding of the interaction between the factors of production and market forces by identifying the resources needed for producing goods and services and predicting how their cost and availability will impact supply, business profitability, and economic growth.
  • Personal Finance
    Student will demonstrate an understanding of the importance of money management, spending, credit, saving, and investing in a free market economy by creating investment and/or budget plans.
  • Supply and demand
    Student will demonstrate understanding and application of the economic concepts of supply and demand by creating and analyzing graphs.

Pre-Requisites

This course is recommended for students in 11th grade. There are no prerequisites for the Economics course, however, successful completion of English 1 and Algebra 1 is strongly recommended.

Honors

Course: To take the Honors version, please select the course from the"Advance/Honors/AP" drop down during registration.

Project/Experience: Honors is awarded by earning "Exceeds" on all rubric assessments.

Status:

Waitlist

Estimated Completion Time

1 segment / 16-18 weeks

Overview

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 one option against others.

In this course, you will recognize examples of economics in your daily life. You will see 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.

The purpose of this course is to help you become a smart consumer who understands the flow of an economy between individuals, businesses, governments, and the rest of the world.

 

Note: content varies depending on course version. For currently enrolled students, please refer to the syllabus located in the course information area for curriculum specifics.

Course Requirements

Besides engaging students in challenging curriculum, VLACS guides students to reflect on their learning and to evaluate their progress through a variety of assessments. Assessments can be in the form of self-checks, practice lessons, multiple choice questions, writing assignments, projects, research papers, essays, oral assessments, and discussions. Instructors evaluate progress and provide interventions through the variety of assessments built into a course, as well as through contact with the student in other venues.

Major Topics and Concepts

Segment 1

 

Module 1

  • What is economics and how does it affect me?
  • How does scarcity force us to make choices?
  • How might we measure the “cost” of our choices?
  • How does supply and demand inform the choices of consumers and business owners?
  • Why is studying supply and demand useful?
  • What factors affect supply and demand?
  • How are prices determined?
  • What is “money”?
  • What gives money its value?
  • How does printing more currency impact the economy?

 

Module 2

  • How can I tell wants from needs?
  • How do my choices today affect my life tomorrow?
  • Why do we pay taxes?
  • Why save money?
  • How do I invest money?
  • Why use credit?
  • How can a budget help me meet my goals?

 

Module 3

  • How has entrepreneurship helped shape American society?
  • What do you need to start a successful business?
  • How can the method of business organization impact success?
  • How can the product market for a good or service influence business decisions?
  • How can a business owner determine the selling price and production level that will maximize profits?
  • How might a business grow to increase profitability?

 

Module 4

  • How does the government take an active role in controlling the economy?
  • How can the government influence the economy through fiscal policy?
  • How can the Federal Reserve affect the economy through monetary policy?

 

Module 5

  • How do economists of the past influence us today?
  • How do countries measure the health of their economy?
  • How can we best organize an economy to meet economic goals?
  • Why do countries trade?
  • Why do countries create barriers to trade or free trade areas?
  • How does inflation affect our lives and society?
  • How does the economy of the United States compare to other countries?

 

Module 6

  • How can we use a circular flow diagram to show economic relationships?
  • How do externalities affect our communities?
  • How do externalities affect our country and the world?
  • How can we use a decision-making model to determine a plan of action for a specific issue?

 

 

Career

Buying Agent

Status:

Waitlist

Estimated Completion Time

3-4 weeks

Competency

Supply and demand: Student will demonstrate understanding and application of the economic concepts of supply and demand by creating and analyzing graphs.

Project

You are a Buying Agent for a large grocery store and are responsible for evaluating the current supply and demand of products in order to manage the inventory of a food department. You will draft a memo that explains optimum inventory levels using supply and demand graphs that you create as evidence for your recommendations.

Career

Personal Financial Advisor

Status:

Waitlist

Estimated Completion Time

3-4 weeks

Competency

Personal Finance: Student will demonstrate an understanding of the importance of money management, spending, credit, saving, and investing in a free market economy by creating investment and/or budget plans.

Project

You are a Personal Financial Advisor working for an organization that helps new immigrants get established in the United States. You advise families on their budgets and how to best manage their money. You will ensure they understand the importance of money management and how best to spend, save, and invest their money as well as how to use credit. You predominantly work with refugees from one country (of your choice) who are arriving to the U.S. and you want to have multiple options of budgets based on various family situations. You will create these sample budgets and include them in a presentation (format of your choice) to educate new citizens of your country on how to make smart money management decisions.

Career

Small Business Entrepreneur

Status:

Waitlist

Estimated Completion Time

3-4 weeks

Competency

Microeconomics: Student will demonstrate understanding of the interaction between the factors of production and market forces by identifying the resources needed for producing goods and services and predicting how their cost and availability will impact supply, business profitability, and economic growth.

Project

You are a Small Business Entrepreneur trying to obtain funding to help launch your product or service. The potential investor needs to see that you have taken into consideration factors of production as well as outside market forces that impact your business before they agree to provide funding. You will present your idea for a product to the potential investor by showcasing your knowledge of this particular market and demonstrating your understanding of how factors of production for your product interact with forces in the marketplace.

Career

Associate Producer

Status:

Waitlist

Estimated Completion Time

3-4 weeks

Competency

Macroeconomics: Student will demonstrate an understanding of key macroeconomic concepts including the business cycle, monetary and fiscal policy, global trade, and externalities by analyzing the economic interactions between the government, its citizens, and the rest of the world.

Project

You are an Associate Producer for a television news outlet responsible for the coverage of the market and economy. Your job is to craft the message for the on-air anchor of a weekly news program that explains the current economy in a way that is easily understood by all viewers. You will write a script to be used in a news report that explains the business cycle and current monetary policy to help viewers understand the economic interactions between the government, its citizens, and the rest of the world. You will ultimately advise viewers on whether it is a good time to invest in the stock market, to pursue a large purchase such as a car or a home, or to save money for future purchases.

Status:

Waitlist

The Experiences Pathway allows students to demonstrate mastery of competencies and earn credit through experiences, such as internships, travel, service learning, entrepreneurship, or independent study. Students may elect to meet all competencies in a particular competency group (i.e., English 1 or Economics) or they can master  competencies in multiple discipline areas. Once a student enrolls, a VLACS instructor will work with the student to refine the Experience, identify the competencies that will be met, and determine products that will demonstrate mastery of each competency.

In Experiences students will:

  1. Use google drive.
  2. Meet weekly or every two weeks with their instructor.
  3. Secure an outside expert.
  4. Plan the experience prior to completing it. (Credit is not awarded for experiences completed prior to enrollment and completion of the planning process.)

Here is how to enroll in an Experience.

  1. Identify the course(s) that matches most closely with your Experience.
  2. Click “Enroll Now” from www.vlacs.org or from our learning catalog.
  3. From the enrollment page, navigate to the course that matches your Experience.
  4. Select all competencies that you hope to meet through your Experience. Do not worry if you are unsure of the exact competencies, they can be adjusted.
  5. Select the Experience bubble.
  6. If there are additional competencies from other discipline areas you hope to meet, enroll in these in the same manner.
  7. Your parent/guardian will receive an email asking for approval of your enrollment. This must be completed before we can assign you an instructor.
  8. You will receive a welcome email from your instructor within five days, given that space is available.

Independent Study

By signing up for an independent study, you will be able to direct your own learning, identifying what you want to learn and how you will demonstrate that you mastered your learning objectives.

Internship

Internships allow you to gain professional experience, make connections, and become familiar with a career, while working on site with mentors and professionals in a career of your interest.

Travel

While travel can be a great experience for learning life lessons, it is also an excellent way to acquire the knowledge and skills that allow you to demonstrate mastery in a variety of competencies.  The world is a classroom and travel experiences will connect your real world experiences to the learning that you seek.

Service Learning

In Service Learning, you collaborate with members of your community to address issues to improve your community. You will connect your service with discipline specific content so that learning can takes place through problem solving and collaboration.

Entrepreneurship

Starting your own business is a great way to learn. This type of experience allows you to engage in an entrepreneurial experience and receive credit for competencies you master through this experience.

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