Economics Mr. Balazs Fall Semester 2007

email: stbalazs@darienps.org

phone 655-3981 ext 2205 (please use email, at least until all systems at the school are clearly working properly)

In this course we will delve into the field of Economics. Customarily Economics is broken into two different areas; Macroeconomics, the study of broad aspects of the economy such as the role and effect of government, inflation, unemployment and the money supply on the economy, the second area termed, Microeconomics, is the study of the consumer and the supplier and how they interact. At the college level generally these two areas of economics are taught as two separate one semester courses, moreover, for those who wish to go on to more advanced economics: there is Intermediate Microeconomics, Intermediate Macroeconomics, International Trade and Economics, Money and Banking and a host of other courses. As a high school introductory topic, we will survey both Macro and Micro economics. We will gain an understanding of how our economy works, what are the roles of the government (if any), how individual makes "rational choices" and how firms optimize decision-making. This course will provide you with a strong and firm background that in addition to making you a more informed citizen should also help you should you decide to take an economics class(es) at the collegiate level. Reflected below is the intended order of subject matter for the course:

I. The tools of Economics

II. How to think like an economist (if you like watching old Star Trek shows

and Dr. Spock was your favorite character…you’ll love this)

III. Different types of Economic Systems (From Adam Smith to Karl Marx)

IV. The invisible hand of capitalism

V. Macroeconomics- Learn the terms of Macroeconomics-

VI. Good Times and Bad Times- How can you tell? Inflation and Unemployment

VII. Money and Banking- Is Alan Greenspan really that important?

VIII. Time to play government analyst, let’s make policy

IX. From the Big World to the Micro world of Microeconomics, the Consumer

X. The Supplier

XI. The Firm v. The Industry

XII. Blind Date: The Consumer and the Producer

XIII. Current Issues in Economics

In addition to reading the text, ECONOMICS USA by Mansfield and Bahravesh, there will be articles to read and worksheets to complete, plus at least 2 projects. The major project is a “stock market portfolio” which will run for the full semester. The stock market project will shadow the course, with monthly assignments that follow along with the new material.

Homework will be assigned on a regular basis; there will also be quizzes to ensure learning has taken place followed with 2 to 3 tests per quarter. Additionally there will be a final at the end of the semester and at least one major group project; a stock investment project which will last for the entire semester. Generally homework will count for 20-30% of your grade, quizzes 20-30% and projects/tests 40-60%. Attendance is required and the school policy on attendance as described in the student handbook will be enforced. If you are asked to leave the class due to disruptive behaviour, the missed class will be treated as an unexcused absence. One unexcused absence will result in a loss in 3 points to your average, a second, 10 points and a third, an automatic failure. This is a "fun" course, but also a demanding course, if you fall behind in the readings and homeworks it will become progressively more difficult for you to subsequently pick it up.