Loma Linda Academy Economics Spring Semester 2017 Instructor: Mrs. Constanzo (909) 796-0161 email address website: x3195 voicemail bconstanzo@lla.org (for parents to use) bconstanzo.lla@gmail.com (for students to use) constanzohistory.com Textbook: Economics Today and Tomorrow, Glencoe 2012 Purpose: Economics is a survey course that will provide the student with the study of various levels of economic activity. The student will gain an understanding of: basic personal economic choices that they will make; basic business organizations and how they operate; the interaction of economic interest groups as they deal with taxes and government regulation; and how this affects our economic system. Students will also master fundamental economic concepts, applying the tools (graphs, statistics, equations) from other subject areas to the understanding of operations and institutions of economic systems. Studied in a historic context are the basic economic principles of micro- and macroeconomics, international economics, comparative economic systems, measurement, and methods. Policy: The teacher has two guidelines: 1. 2. Respect Responsibility If problems arise in class, additional guidelines will be formulated by the class in conjunction with the teacher. Attendance: Regular and engaged attendance is essential. You are responsible for all material presented in class, including announcements on course procedures. It is recommended that you consult the teacher on missed information as opposed to a fellow student. Exams, quizzes and homework often include questions on material presented only in class. Performance on these indirectly reflects attendance. Attendance is required. Please refer to the school bulletin for school policy. Teacher s Beliefs: Grading: A standard grading practice will be used: A B+ C+ D+ F God loves you as you are, not as you should be. Everyone s thoughts and opinions are valuable. I will expect your best and will give you mine. It is not important how smart you are, but how you are smart. 93 100% 87 89% 77 79% 67 69% 59% and below AB C D 90 92% 83 86% 73 76% 63 66% BCD- 80 82% 70 72% 60 62%
Economics Syllabus Page 2 Projects: Several projects will be given throughout the semester. These include, but are not limited to the following: v Stock Market Project v Personal Finance Project v Small Business Project Specific information on these projects will be handed out in class and posted online when possible. Expected School-wide Learning Results (ESLRs): And Jesus grew in wisdom and stature and in favor with God and men. Luke 2:52 When I graduate from Loma Linda Academy, I will have grown: Spiritually Accepting Jesus Christ personally and growing through His word Showing commitment to the Church Intellectually Demonstrating thinking skills, study skills, communication skills, and life skills necessary to succeed in college and a career Appreciating beauty wherever it may be found Physically Living a healthy, balanced lifestyle Developing a program of life-long fitness Socially Maintaining healthy, interpersonal relationships Displaying responsible citizenship with a desire to serve others Class Expectations: I expect complete academic honesty. I expect each one to give his/her best effort in my class and others. I expect each of you to show respect to your fellow classmates and teachers. I expect you to be on your best behavior when guests come to the classroom: inclusive of Principals, Teachers, Counselors, Staff Members, Substitute Teachers, and Parents. I expect each of you to come to class prepared and ready to learn. I expect each and every one to pass. I expect every guideline set in this class to be met regarding exams, projects, daily work, homework, and class participation. I expect each of you to believe in yourself, to set high standards, have personal integrity, to achieve the goals you set for yourself. I expect each of you to lead positive lives as citizens. I expect each of you to give back to your community... and I expect you to GO THE EXTRA MILE IN CLASS AND IN LIFE!
Economics Syllabus Page 3 Information that will aid in your success in this class: While in the classroom you will be expected to conduct yourself in a professional manner. Respect is the key. This means no excessive talking and you must raise your hand to be called upon. No food, candy, gum, or beverages are allowed (except for water). No cellular phones, paging devices, tape recorders, CD players, cameras, TV's or other types of electronic devices are allowed in the classroom, unless authorized by the teacher. If these unauthorized items are found in the classroom, they will be taken and delivered to the office by 3pm. Academic dishonesty will result in an F for that assignment. Any talking during a quiz or test until every student is finished will be interpreted as academic dishonesty. Academic dishonesty includes copying, faxing, emailing, or in any way duplicating assignments that are turned in, wholly or in part, as original work. It also includes exchanging assignments with other students, either handwritten or computer generated, whether you believe they will be copied or not, using any form of memory aid during tests or quizzes without the express permission of the instructor, giving or receiving answers during tests or quizzes, or taking credit for group work when you have not contributed an equal or appropriate share toward the final result. Plagiarism will also be regarded as academic dishonesty. If you use another author s work/words, you must properly document their work. If you do not give proper credit, it is plagiarism. This includes the use of photographs, drawings, maps, cartoons, and illustrations. If you use three or more words of someone else s work, without proper citation, it is plagiarism. If you plagiarize without properly documenting that work, you will receive a zero for the assignment. If you do not know how to properly write a research paper or document, see your English teacher or me. Academic honesty and personal integrity is a must in this classroom. You are expected to keep up with the reading assignments and to be prepared for discussion. You are also expected to ask questions for clarification. This material may not be repeated in class, but you will be responsible for it on exams. Quizzes will happen daily. They will begin when the bell rings for class. If you are late for class, you will miss the quiz and will not be allowed to make it up. If you are absent for a quiz, you MUST complete the section review questions for the assigned section. This is due on the day you return to class. All assignments are due at the beginning of class. Late assignments will not be accepted. If you have an excused absence, you must see the teacher for make-up work on the day of your return or it will be considered late work. Extenuating circumstances will be evaluated at my discretion. A major assignment, such as an essay or other project, which is given to you with five (5) or more days of advance notice (including weekend days), is due on the date assigned. If you are absent, someone must hand it in on that day (in my mailbox or via email, if allowed). All assignments are to be clear, neat and legible. If they are not, they will be discarded as a zero. They are also to have your name, date, class period, and title for full credit. If you are absent for a test, but are in class the day before the test, it is expected that you make up the test on the day of your return. If you are absent the day before the test and the day of the test, you will have three days to take the test after your return to school. If the test is not made up in that time period, you will receive a zero for that test. The teacher and NOT the bell dismiss the class. Please remain seated at your desk until dismissed by the teacher. My computer broke down last night, is not a sufficient excuse for late projects. The teacher will assume that as competent and responsible seniors, you are at the academic level that would avoid leaving work to the last minute and running into such pitfalls. Plan ahead!
Economics Syllabus Page 4 Assignment Weighting The assignments and projects for this class will be weighted as follows: Homework 10% Tests 15% Journal 5% Quizzes 10% Small Business Project 10% Personal Finance Project 15% Final Exam 15% Stock Market Project 20% Class Schedule Chapters Introduction to Economics 1, 2, 7 History of Economic Thought; Want vs. Need; Types of Economic Systems; Free-Enterprise; Supply & Demand Spending & Saving 3, 4, 6 Loans; consumer Beware; Personal Budget; Saving & Investing Business 8, 9 Sole Proprietorship; Partnership Corporation; Government Regulation Taxing, Spending & Budgeting by the Government 13, 15, 16 Taxes; Healthcare; Welfare Spending The International Scene 18 20 Trading with Nations, Economic Systems, Developing Nations, the Global Economy ECONOMICS CURRICULUM GUIDE California State Standards Principles of Economics 12.1 Students understand common economic terms and concepts and economic reasoning. 1. Examine the causal relationship between scarcity and the need for choices. 2. Explain opportunity cost and marginal benefit and marginal cost. 3. Identify the difference between monetary and nonmonetary incentives and how changes in incentives cause changes in behavior. 4. Evaluate the role of private property as an incentive in conserving and improving scarce resources, including renewable and nonrenewable natural resources. 5. Analyze the role of a market economy in establishing and preserving political and personal liberty (e.g., through the works of Adam Smith). 2. 12.2 Students analyze the elements of America s market economy in a global setting. 1. Understand the relationship of the concept of incentives to the law of supply and the relationship of the concept of incentives and substitutes to the law of demand. 2. Discuss the effects of changes in supply and/or demand on the relative scarcity, price, and quantity of particular products. 3. Explain the roles of property rights, competition, and profit in a market economy. 4. Explain how prices reflect the relative scarcity of goods and services and perform the allocative function in a market economy. 5. Understand the process by which competition among buyers and sellers determines a market price. 6. Describe the effect of price controls on buyers and sellers.
Economics Syllabus Page 5 7. Analyze how domestic and international competition in a market economy affects goods and services produced and the quality, quantity, and price of those products. 8. Explain the role of profit as the incentive to entrepreneurs in a market economy. 9. Describe the functions of the financial markets. 10. Discuss the economic principles that guide the location of agricultural production and industry and the spatial distribution of transportation and retail facilities. 3. 12.3 Students analyze the influence of the federal government on the American economy. 1. Understand how the role of government in a market economy often includes provid ing for national defense, addressing environmental concerns, defining and enforcing property rights, attempting to make markets more competitive, and protecting con sumers rights. 2. Identify the factors that may cause the costs of government actions to outweigh the benefits. 3. Describe the aims of government fiscal policies (taxation, borrowing, spending) and their influence on production, employment, and price levels. 4. Understand the aims and tools of monetary policy and their influence on economic activity (e.g., the Federal Reserve). 4. 12.4 Students analyze the elements of the U.S. labor market in a global setting. 1. Understand the operations of the labor market, including the circumstances sur rounding the establishment of principal American labor unions, procedures that unions use to gain benefits for their members, the effects of unionization, the mini mum wage, and unemployment insurance. 2. Describe the current economy and labor market, including the types of goods and services produced, the types of skills workers need, the effects of rapid technological change, and the impact of international competition. 3. Discuss wage differences among jobs and professions, using the laws of demand and supply and the concept of productivity. 4. Explain the effects of international mobility of capital and labor on the U.S. economy. 5. 12.5 Students analyze the aggregate economic behavior of the U.S. economy. 1. Distinguish between nominal and real data. 2. Define, calculate, and explain the significance of an unemployment rate, the number of new jobs created monthly, an inflation or deflation rate, and a rate of economic growth. 3. Distinguish between short-term and long-term interest rates and explain their relative significance. 6. 12.6 Students analyze issues of international trade and explain how the U.S. economy affects, and is affected by, economic forces beyond the United States s borders. 1. Identify the gains in consumption and production efficiency from trade, with emphasis on the main products and changing geographic patterns of twentieth-century trade among countries in the Western Hemisphere. 2. Compare the reasons for and the effects of trade restrictions during the Great Depression compared with present-day arguments among labor, business, and political leaders over the effects of free trade on the economic and social interests of various groups of Americans. 3. Understand the changing role of international political borders and territorial sovereignty in a global economy. 4. Explain foreign exchange, the manner in which exchange rates are determined, and the effects of the dollar s gaining (or losing) value relative to other currencies. Information in this syllabus is subject to change at the teacher s discretion.
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Economics Syllabus Page 7 January 24, 2017 Economics ~ First Homework Assignment Dear Parents of Economic Students, First of all, I want to tell you how excited I am about the opportunity to work with your students in Economics this semester. I find that Economics is an excellent area of study in which to not only educate your student on significant economic principles and practices, but also help them develop tools that they will use in their own personal finance as they become adults. I believe education is a joint process between parents, teachers and students. As such, for your student s maximum benefit, it is essential that you, as their parent, take an active role in this learning process of your child. One way in which you can do this is by taking the time to read through this syllabus with your student and discuss the guidelines and requirements of this class. This is a good opportunity to discuss with your student time management and how they plan on preparing for the class and assigned projects. Also, as you review the subject matter we will cover, please feel free to contact me and share any resources or suggestions you have related to materials that may supplement a given topic. I am always looking for ways to present economics in a relatable way. I have already gone through the syllabus with your student and have answered any questions they might have. After you have read through the syllabus, please sign the section below, along with your student, and have your student return it to me no later than Monday, January 30, 2017. A copy of this syllabus, along with major projects, will be posted on the class website, www.constanzohistory.com. If you have any questions about this class, I can be reached at (909) 796-0161 x3195 or bconstanzo@lla.org. Thank you for your support of Christian education and Loma Linda Academy. I look forward to working with you throughout the remainder of the school year. Sincerely, Bettesue L. Constanzo Teacher For the student: I have read the Economics class syllabus and understand fully the principles and guidelines it contains. As a student of Loma Linda Academy, I hereby agree to comply with the stated rules. Student Name (Please print) Signature Date For the Parent/Guardian: I pledge to support the principles and rules described in the Economics class syllabus by assisting my student in observing the policies of this class. Parent/Guardian Signature Date