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 178

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7.1.1 Competition & Market Structure
88
Applying the Economic Way of Thinking
799
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Are People Treating Scarce Resources as Scarce?
34
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Basic Economic Concepts
734
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Campus Parking
33
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Capitalism and Economic Freedom
738
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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
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Economic Choices and Decision Making
735
Economic Incentives and Resources
798
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
736
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Economic Systems Chart
36
Chapter 2, Section 1: Traditional, Command, Market Economies
...
Economics of the US Constitution
196
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Evaluating Economic Performance
737
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Midterm Review #1
142
Minimum Wage- Discussion
13
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Minimum Wage/Robots Article
31
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Production Possibilities
30
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Review #2
145
Review 3 Vocabulary
146
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Scarcity
8
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Scarcity and the Science of Economics
733
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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
...
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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Business Growth and Expansion
740
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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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Cost, Revenue, and Profit Maximization
747
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Demand #1
19
Basic concepts of demand, Chapter 4- Section 1
...
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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Elasticity of Demand
744
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Environmental Incentives
169
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Factors Affecting Demand
743
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Floored: Documentary on CBOT
50
Watch the documentary and answer 8 questions.
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Forms of Business Organization
739
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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
...
Other Organizations
741
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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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The Theory of Production
746
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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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What Is Demand?
742
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What Is Supply?
745
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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
Business Cycles and Fluctuations
776
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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
...
Competition and Market Structures
751
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Country Research #1
165
Country Research #2
167
Current Tax Issues
761
Deficits, Surpluses, and The National Debt
765
Early Banking and Monetary Standards
767
Economic Growth
775
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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 Trends and Issues
757
Employment/Labor Types Study Guide
133
Federal Government Expenditures
763
GDP and Changes in the Price Level
773
GDP and Population
774
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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
Inflation
778
Investing in Equities, Futures, and Options
771
Investment Strategies and Financial Assets
770
Labor and Wages
756
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Light City Impact on Baltimore
256
Read article and answer questions
Macroeconomic Equilibrium
784
Market Failures
752
Measuring the Nation’s Output
772
Monetary Policy
781
Monetary Policy, Banking, and the Economy
782
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Most Valuable NFL Teams
261
Notetaking Employment/Labor
108
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November BLS Report
107
Poverty and the Distribution of Income
779
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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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Prices as Signals
748
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Public v. Private Goods
140
Resolving Union and Management Differences
755
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Rhino Economics
170
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Robotic Economy
260
Savings and the Financial System
769
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Social Goals vs. Market Efficiency
750
State and Local Government Expenditures
764
State and Local Tax Systems
760
The Cost of Economic Instability
783
The Development of Modern Banking
768
The Economics of Government Spending
762
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The Economics of Poverty
121
The Economics of Taxation
758
The Evolution of Money
766
The Federal Reserve System
780
The Federal Tax System
759
The Labor Movement
754
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The Price System at Work
749
The Role of Government
753
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Under Armour #1
228
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Under Armour #2
229
Unemployment
777
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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
A Framework for Development
795
Absolute and Comparative Advantage
787
Barriers to International Trade
788
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BLS/Career Prep
136
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Budget Practice
132
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Community Business Map
204
Economic Development
794
Economic Mystery #14
120
Economics and Politics
786
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Entrepreneurial Survey
80
Complete a brief survey connecting career goals and business
Financing and Trade Deficits
789
Financing Economic Development
796
GNH Discussion
122
High School Degree Not Enough
247
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In the News: Cosmo (Warmup)
156
Reading/Discussion
...
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
Stabilization Policies
785
The Global Demand for Resources
797
The Rise and Fall of Communism
791
The Spectrum of Economic Systems
790
The Transition to Capitalism
792
The Various Faces of Capitalism
793
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Welcome to the Exponential Age
253
Read article and answer questions

Vocabulary for Economics 510