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Economics

Section #: 1514 (ECON)

Economics examines the allocation of resources and their uses for satisfying human needs and wants. The course analyzes economic reasoning used by consumers, producers, savers, investors, workers, voters, and government in making decisions. Key elements of the course include study of scarcity and economic reasoning, supply and demand, market structures, role of government, national income determination, the role of financial institutions, economic stabilization, and trade. Students will explain that because resources are limited, people must make choices and understand the role that supply, demand, prices, and profits play in a market economy. The functions of government in a market economy and market structures will be examined. Students will understand economic performance, money, stabilization policies, and trade of the United States. The behavior of people, societies and institutions and economic thinking is integral to this course.

Recommended Grade Level

Grades 11 or 12

Recommended Prerequisites

None

Credits

1 semester course, 1 credit

Fulfills the Economics requirement for the Core 40, Core 40 with Academic Honors, Core 40 with Technical Honors and International Baccalaureate diplomas, a Social Studies requirement for the General Diploma, or counts as an Elective for any diploma