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Economics is a one-semester course in which students examine the structure and values of the U.S. economic system, explore business operations, study the emerging global economy, and acquire knowledge and skills necessary to function as competent citizens.
The learning objectives listed beside each activity state the skills and knowledge the students will gain.
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Topic: Pillars of the U.S. Economic System
Chapters 1 and 2 describe the basic economic problems and the nature of the free enterprise system. |
Key Learning Objectives
The students will
 describe how scarcity forces people to make choices and weigh opportunity costs
analyze how different economic systems solve basic economic problems
explain how voluntary exchange markets allocate resources
describe how money, goods, and services link households and business in the U.S. economy |
Topic: Supply, Demand, Market Prices, and the Consumer
Chapters 3, 4, 5, and 6 describe the price system, illustrate how supply and demand interact to establish market prices and allocate resources, and explore consumer-related issues. |
Key Learning Objectives
The students will
explain price effect
illustrate how changes in supply and demand affect market price
evaluate how markets meet consumer needs
describe the role of consumers
explain the function of credit
analyze saving, investing, and personal money management options |
Topic: Theory and Operations of the Business Firm
Chapters 7, 8, 9, 10, and 11 examine the role of entrepreneurs and how businesses are organized and financed, explore production, productivity, market structure, and marketing strategies. |
Key Learning Objectives
The students will
compare and contrast different types of business organizations
describe the responsibilities, risks, and rewards of entrepreneurship
differentiate among types of business financing
describe factors that affect productivity
identify different market structures |
Topic: Economic Institutions
Chapters 12, 13, and 14 examine the role of labor, governments, and the federal reserve banking system in the United States. |
Key Learning Objectives
The students will
analyze the role of organized labor
describe governments role in the economy
describe the role of banks and the functions of the Federal Reserve System
describe the phases of the business cycle
analyze fiscal and monetary policy options
evaluate the effectiveness of different economic policies |
Topic: The Global Economy
Chapters 15 and 16 explore international trade, comparative economic systems, and economic issues |
Key Learning Objectives
The students will
explain why nations trade goods and services
describe barriers to international trade
compare and contrast economic systems
evaluate problems facing less-developed countries
analyze current economic problems |
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Economics enhances students learning of the following concepts and skills:
Concepts Absolute advantage Comparative advantage Deflation Demand Economic incentives Economic institutions Economic systems Exchange rates Fiscal policy Government GDP Income distribution Inflation Investing Labor Markets Market structure Monetary policy Money Opportunity costs Productivity Saving Scarcity Supply Trade Unemployment
Skills Analyzing information Applying information Assembling products Classifying Comparing Converting currencies Critical thinking Decision making Distinguishing fact from opinion Drawing conclusions Filling out forms Formulating an argument Giving reports Graphing Inference Interpreting data Interviewing Mathematical interpretation and computation Negotiating Note taking Reading financial statements Research Situational analysis Teamwork
All JA programs have technology enhancements and are designed to support the skills and competencies outlined in the SCANS (Secretarys Commission on Achieving Necessary Skills) report. These programs also augment the school-based, work-based, and connecting activities for communities with school-to-work initiatives.
Company Program |
Economics |
Student Company, MESE & Macroland |
GLOBE |
