Subject: Social Studies

Economics

Explore the fundamentals of economics, including supply and demand, market structures, and the role of government in the economy. This course helps students understand how economic decisions impact individuals, businesses, and society.

Course Type: Standard High School

Credits: 1.0

Course Description

Economics introduces students to the study of how people, businesses, and governments make decisions about resources, goods, and services. Students will explore core concepts such as scarcity, opportunity cost, and economic systems while examining how supply and demand shape markets. The course also covers important topics like monetary and fiscal policy, global trade, and the influence of government regulation on the economy.

Through engaging lessons and real-world examples, students will gain a deeper understanding of both microeconomics and macroeconomics. They will learn how individuals and businesses interact within markets, how economic growth is measured, and how policies are used to manage unemployment, inflation, and international trade. By the end of the course, students will be equipped with critical thinking skills and a solid foundation in economics that will serve them in college, careers, and everyday decision-making.

Course Objectives

Explain core economic concepts such as scarcity, opportunity cost, supply, and demand.

Analyze how different economic systems allocate resources and determine economic outcomes.

Evaluate the impact of government policies on markets, employment, and inflation.

Interpret economic indicators and assess the health of national and global economies.

Compare international trade systems and identify challenges to global economic development.

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Course Contents

Module Title	Module Topic(s)
The Economic Way of Thinking	Learn how scarcity, choice, and opportunity cost shape decisions, and apply economic models to real-world behavior.
Economic Systems	Compare traditional, command, market, and mixed economies and evaluate government roles in shaping outcomes.
The American Free Enterprise System	Examine the principles of capitalism, government regulation, and how public goods and externalities affect markets.
Demand	Explore the law of demand, elasticity, and factors that shift consumer buying behavior.
Supply	Analyze the law of supply, elasticity, and how costs and technology impact production.
Demand, Supply, and Prices	Understand how supply and demand interact to set prices, signal market shifts, and respond to government interventions.
Market Structures	Compare competition, monopolies, oligopolies, and monopolistic competition, and examine the role of regulation.
Types of Business Organizations	Evaluate ownership models from sole proprietorships to corporations and explore business responsibilities to society.
The Role of Labor in the Economy	Study wage determination, labor market trends, and the influence of skills, education, and unions.
Money and Banking	Trace the history, functions, and institutions of money and banking, including the role of central banks.
Financial Markets	Explore stocks, bonds, and investments, and understand how financial markets fuel economic growth.
Economic Indicators and Measurements	Learn to interpret GDP, inflation, and unemployment as tools for analyzing economic health.
Facing Economic Challenges	Investigate issues like poverty, unemployment, and inflation, and assess policy responses.
Government Revenue and Spending	Examine taxation, budgeting, and fiscal priorities, and their impact on individuals and society.
Using Fiscal Policy	Analyze how governments use taxes and spending to stabilize the economy and manage debt.
The Federal Reserve and Monetary Policy	Study the Federal Reserve’s structure, tools, and influence on inflation, employment, and growth.
International Trade	Evaluate the benefits and challenges of global trade, trade barriers, and international agreements.
Issues of Economic Development	Explore the difference between growth and development, barriers to progress, and strategies for sustainable development.

Recommended Prerequisites

Carnegie Credits Explained: Our Approach vs. Trimester Credits

Carnegie Credit System
Excel High School follows the Carnegie Credit system, a widely recognized method of measuring student progress based on instructional hours. A single Carnegie credit reflects approximately 120 hours of coursework, typically completed over a full academic year.

Carnegie Credit vs. Trimester Credit
While Carnegie credits are awarded based on total hours over a year, trimester credits divide the school year into three terms. In a trimester system, students complete courses in shorter, intensive sessions, often earning partial credits (e.g., 0.33 or 0.5 per term). In contrast, Excel’s use of Carnegie credits ensures students have ample time to engage deeply with the material and develop a well-rounded understanding at a consistent pace.

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