Social Science Learning Portal

What is Economics About??

Economics is the science of how people satisfy unlimited wants with limited resources, focusing on the whole range of individual and collective economic behavior. Economists looks at short and long-term trends in the economy, both for analysis of decision making and the influence of specific disruptive events, but also to attempt to forecast where an economy is heading. MAJOR TOPICS: Scarcity, Consumption, Production, Factor Markets, Supply/Demand, Types of Firms, Labor Markets, Global Trade, Entrepreneurship, Types of Economic systems

The Focus of Economists

The study of economic behavior is usually divided up into two lenses.

Microeconomics, which is concerned with the smaller units of an economy— individual consumers, small producers, networks of economic exchange, decision making.

Macroeconomics looks at how the smaller forces in an economy play out at a larger scale— measuring productivity and growth in an economy, circular flow, unemployment, and the role of governments in regulating and economy.

Additionally we'll turn weekly to practical application of economics by looking at local business trends and personal finance.

Franklin

Microeconomics

  • Scarcity, Choice, Opportunity Cost
  • Production Possibilities
  • Specialization and Trade, Absolute & Comparative Advantages
  • Economic Systems, Incentives, and Property
  • Supply & Demand

Macroeconomiscs

  • Measuring and Economy: GDP, Price Indeces, Inflation
  • Labor Force & Unemployment
  • Aggregate Demand / Aggregate Supply
  • Financial Sector: Banking, Federal Reserve, Money Market, Capital Markets
  • International Trade & Finance

Assignments 113

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7.1.1 Competition & Market Structure
88
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Are People Treating Scarce Resources as Scarce?
34
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Campus Parking
33
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Chapter 1-2 Review
27
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Circular Flow
37
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Create A Poster (Chapter 18)
198
Day 1 Information
11
Students complete information sheet
Dude, where's my job? (Article)
32
Economic Mystery #1
9
Using the Guide to Economic Reasoning, students analyze clues to why scientists are experimenting with chickens and contact lenses.
Economic Mystery #14
35
Economic Mystery #3
10
Using the Guide to Economic Reasoning, students analyze clues to why, despite rules requiring safer vehicles, people are less safe than in 1964.
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Economic Systems Chart
36
Chapter 2, Section 1: Traditional, Command, Market Economies
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Economics of the US Constitution
196
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Midterm Review #1
142
Minimum Wage- Discussion
13
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Minimum Wage/Robots Article
31
Part Time Job
63
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Production Possibilities
30
Quiz Week 1-2
64
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Review #2
145
Review 3 Vocabulary
146
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Scarcity
8
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Survival 1&2
65
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The Economics of Celebrities
161
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Vocabulary Review
97
Week 1-3 Focus
99
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3.1 Business Organization #1
70
Compare and contrast three different types of business organization
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3.1 Business Organization #2
72
Answer questions/problems using text
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7.1.2 Market Structure Competition (Chapter 7, Section 1)
91
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ADM & Lysine
18
Read short description of the ADM price-fixing scandal, and plot Lysine demand, total revenue.
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Best Brands
109
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Chapter 3 Section 1 Problems
75
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Chapter 3 Sections 2-3 Questions
76
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Demand #1
19
Basic concepts of demand, Chapter 4- Section 1
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Demand #2
23
Basic concepts of demand, Chapter 4- Section 2
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Demand #3: Elasticity
26
Basic concepts of demand, Chapter 4- Section 3
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Dominoes Cheats Worlers
258
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Duke's Motel
102
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Environmental Incentives
169
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Floored: Documentary on CBOT
50
Watch the documentary and answer 8 questions.
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In the News: Javazen
210
Lab #2: Learning Supply/Demand
93
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More on Supply and Demand #1
55
Problems solving on supply/demand schedules
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Pirates 1
85
Examine the rise of personal computers
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Ponzi Scheme
235
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Pricing Problems
58
Government intervention in wage and labor markets can sometimes limit employment.
Reading: Are Raises Bad for America?
59
Read an article by William Holstein and consider the effects of Government intervention in the labor market.
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Silver Market #1- Simulation
45
Buy and Sell Silver
Silver Market #2- Schedule/Curve & Questions
46
Using the supply and demand schedule, plot the curve and answer questions
Silver Market Debrief
49
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Supply #1
42
Basic supply concepts; chapter 5, section 1
Test 1
68
The Internet Economy will Take Over
81
Read short article (1999) and answer questions
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Uber: Surge Pricing
265
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Under Armour 3-4
243
Warmup 9/29 (4 Questions, Demand)
28
Warmup on Pricing Problems
60
Question #1 for the day's assignment
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16.1 Economic Instability
213
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18.1 Spectrum of Economic Systems
178
19-1 Problems
175
SUB-PLAN
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20-1 Global Resources
171
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9.1 Taxation
197
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9.4 Tax Issues: Tax Reform
152
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A New Map of America
217
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Against the Grain
264
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Best and Worst Cities
227
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Big Mac Index
222
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Bitcoin Basics
234
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Body Snatchers #1 (Inside Body Trade)
115
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Body Snatchers #2 (American Vampire)
116
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Chapter 10.1-2: Government Spending
162
Chapter 15 (SUB Work)
214
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Chapter 8- Labor Unions
104
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Chapter 8: Labor Review Questions
111
Matching/Multiple Choice/Short Answer
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Country Research #1
165
Country Research #2
167
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Economics of High School Sports
248
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Economics of the Preakness
250
Read / analyze the economic impact of Baltimore's signature horse-racing event
Employment/Labor Types Study Guide
133
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GNH #1
114
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Heroin in Baltimore
130
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Impact of Freddy Gray Riots
255
Read article and answer questions
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In the News: Hogan vetoes Transport Funding Formula Bill
201
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In the News: Kush Gods
200
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In the News: Tax Fraud
157
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Light City Impact on Baltimore
256
Read article and answer questions
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Most Valuable NFL Teams
261
Notetaking Employment/Labor
108
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November BLS Report
107
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Preakness Still Shines
251
Evaluate the economic impact and importance of the Preakness to Baltimore and Maryland
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Public v. Private Goods
140
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Rhino Economics
170
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Robotic Economy
260
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The Economics of Poverty
121
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Under Armour #1
228
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Under Armour #2
229
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Vegas Baby
221
Read article about the history and economics of Las Vegas. Answer questions and design a recruiting brochure.
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What is Socialism
153
2 Hour Delay Day 02/10
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BLS/Career Prep
136
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Budget Practice
132
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Community Business Map
204
Economic Mystery #14
120
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Entrepreneurial Survey
80
Complete a brief survey connecting career goals and business
GNH Discussion
122
High School Degree Not Enough
247
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In the News: Cosmo (Warmup)
156
Reading/Discussion
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IN THE NEWS: Kanye West / Kim Kardashian
160
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Investing Investigation / Cartoon
239
Extra Credit
Market Basket (Capstone 15)
124
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Middle Skills Job Article
137
Participation / Week 1
206
Participation / Week 2
209
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Welcome to the Exponential Age
253
Read article and answer questions

Vocabulary for Economics 510