Senior Academics – Economics Mr. Smith

1. Economics – What does the course involve?

Probably the most practical social science, this course will help prepare you to observe and participate in the economy. You will be able to observe the global, national, state, and local economies for purposes that range from voting to investing. America’s stability and success has always been partly due to it’s thriving economy. This economy will only continue to improve if it’s citizens are educated about it. Other important institutions that you may participate in the future and will learn about in class include businesses and labor organizations. This class will also help you prepare for the most practical and personal economic functions. These basic functions include checking, savings, taxes, and employment. Academic economics is designed to prepare students for a university career.

2. Organization of the Class Discipline – Strictly follow discipline code and procedure of schools. Respect and well-mannered behavior will be a must in class. Students will raise hands before speaking, unless involved in group work. Students will not begin to leave until the instructor has dismissed them. Those not acting responsibly will face the following consequences:

1. Deduction of class participation points. 2. Warning. 3. Retraining. 4. Removed from room, alternative assignment. 5. Parents contacted 6. Office referral.

Insubordination, and harassment despite a warning of other students will result in immediate dismissal to the office (this includes putting your head down).

Student Responsibilities – Bring all necessary writing materials. Students will be expected to complete assignments on time. There will be no exceptions. Students will be on time to class. Class participation will be a must. If you are not present for class, immediately retrieve instructions and missed course work, this is your responsibility. Student Attendance – Rules for attendance will be followed strictly. Students legally absent up to three consecutive days will have three days to make up assignments. Those absent for more than three days will have a number of days equal to the number missed. Those not obtaining a legal excuse will receive a 0% on the assignment, even if they have completed it and turned it in. This includes those illegally tardy! Those that are

consistently absent will be unable to receive benefits of in-class instruction and participation. Work – Notes will be taken in class with a possibility of notebook checks. Text will be occasionally used so that you may receive information from as many different forms and sources as possible. Unannounced quizzes will be used throughout the course to make sure that you are keeping up to date on all class materials. Tests will occur at the end of each unit. Current Events will be due at the end of the week. Smaller activities will count as homework and occasionally we will work on larger projects. Late assignments will be given 0%. No late work will be accepted. All assignments will be submitted through the drop box on Blended Schools Blackboard by 11:59pm of assigned date (Unless otherwise noted). If you have a Blackboard problem, please e-mail fsmith@gorockets.org right away. Make some attempt to turn in the assignment (by e-mail if necessary). You may text my e-mail, but please include your name. If you have technology difficulties, please leave a voicemail at 814-827-2715 X 1240. You will have to turn in a hard copy by 8:00 am the next school day and you will need proof of the error (if an error message pops us, take a picture of it or print screen). Reading Quizzes – There will be no more than five per unit, but no less than one. These will only be

on basic terms and concepts, especially when readings have been assigned. Each will be worth ten points.

Essays and Papers – Essays and Papers – Will be worth thirty points. They will be graded for content, accuracy, explanation, spelling, and grammar. Essays will be at least 500 words in length. All papers will use MLA format. Include title, outline, body, in-text citations and works cited.

Projects – Projects – Consisting of a presentation and a 1000 word paper (which will include a title, outline and works cited page), projects will be worth 100 points for each part. All papers will use MLA format. Semester final exam (midterm), class participation and project grade for the quarter will be taken X1 if completed, X0 if not.

Tests – Every unit will have a test. There are six units all together. We should complete three units per quarter. These tests will consist of multiple choice, fill in the blank, and essay sections. Each will be worth 100 points.

Exam – Occurring at the end of the semester, this will simply be testing all material presented to that point in the course. This will be similar to a regular unit test, but worth 200 points and spread over two days. It will count as part of your final and as a grade for quarter 4. Not taking the exam will also result in a loss of class participation points.

Class Participation – Classroom behavior as well as your level of participation will be included in this

part of the grade. Students wishing to receive the full ten- percent of their grade for class participation must answer or ask questions in class at least four times a week. Responses must be more than yes or no answers. They will be backed up with an explanation. Disrespectful behavior, being tardy for class, not turning in homework, not paying attention, and using class time unwisely will result in a deduction of class participation.

Current Events – Students will read articles from various publications that involve issue of economics (national or international news). You must include a link to the article.

You will then write a paragraph summary, a second paragraph of your opinion on the matter, and a third paragraph that relates this to economics. You may retrieve these articles from any of the following renowned publications. Newsweek, Time, US News and World Report, The New York Times, The Washington Post, and the Wall Street Journal. You may also use USA Today. It is important to use these national sources instead of local sources so you have better access to a wide range of articles. One point will be taken off for each direction not followed or if the paragraphs are not at least forty words each in length for a total for 120 words. Most of these can be retrieved from the internet and most will be available in class. Turn in a total of 6 current events every quarter. Here are the following sites:

Newsweek: http://www.msnbc.com/news/NW-front_Front.asp Time: http://www.time.com/time Washington Post: http://www.washingtonpost.com/ New York Times: http://www.nytimes.com/ - this site involves registration, but it is free. US News and World Report: http://www.usnews.com/usnews/home.htm USA Today: http://www.usatoday.com/

Each will be worth ten points. This assignment has the following qualities: 1. Responsibility – Due at end of every week. 2. Reading - Looking at various and renowned publications. 3. Writing – Summarizing, expressing yourself, and relating this to class

material. 4. Awareness – Realization of events that impact this nation and the

world.

Grades – The school’s grading system will be followed: A: 90-100% B: 80-89% C: 70-79%

D: 60-69% E: 50-59% F: Below 50%

The course will be weighted in the following manner: Test: 50% Quizzes: 15% Class Participation 10% Projects: 20% In-Class Work 5%

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3. Organization of the Course Material I. Basic Economics - Learn basic terms and structure of the study of

economics. Explore the economies of the United States and other nation-states throughout history. Compare and contrast them and analyze the American economy.

A. Economics – What is it? Chapter 1 January 24th B. Economic theories & systems - Adam Smith and Karl Marx Chapter 2 January 26th C. Command Economy - Economic History of the Soviet Union D. Free markets, mixed economies and America. - Reaganomics. Chapter 3 January 26th Test January 31st

II. Economic Policy in the USA and World– Our collective nature, through the government, safeguards or needs and rights. Some believe that regulation and taxes are necessary, while other find them to be crushing. Students will understand the impacts having little government or too much involvement in the economy. Today’s economy is interconnected throughout the world and provides the USA with income and goods. Students will understand how the global economy hurts and helps the economy.

A. Taxation. Chapter 14 –February 2rd B. Government Spending Chapter 15 – February 7th C. Global Economy and Free Trade. Chapter 17 – February 9th D. “Developed” World. Chapter 18 – February 14th E. Developing World. February 20th – Freakonomics Review due Test – February 21st

III. Macroeconomics - Measuring the economy is done with specific means so that values can be compared throughout the world. Despite being developed or undeveloped, all nation-states have three major economic problems: unemployment, inflation, and poverty. Students will recognize how a nation’s economy is measured and the core characteristics of these universal problems.

A. Measuring the economy. Chapter 12 – February 23rd B. Inflation. Chapter 13 – February 28th C. Unemployment. D. Poverty. Nation-state Presentations- March 5th -9th Test March 13th

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6 Current Events Due March 18th IV. Microeconomics– Prices are determined when taking into consideration of

two variables: supply and demand. Changes in these two variables also impact prices. Different types of businesses in different types of markets make changes accordingly to their products and their prices. Students will comprehend how prices are determined, distinguish between different types of businesses and markets and how they impact the economy.

A. Demand and Supply. Chapter 4 – March 15th Chapter 5 – March 20nd B. Creation of prices. Chapter 6 – March 22th C. Elasticity. D. Market structure. Chapter 7 – March 29th

Test – April 3rd V. Labor– Selling of labor and participation in the labor market is part of all of

our lives. The education we have, the jobs we pick, and their salaries/wages all can be explained by economics. Pay is decided either by supply and demand or by collective bargaining by organized labor. Students will be able to participate in and understand their rights in the labor market.

A. Business organizations. Chapter 8 – April 10th B. Labor market. Chapter 9 – April 12th C. Organized labor. D. Labor Choices E. American Labor Strikes F. American Dreams - April 13th-15th Movie Review Paper due April

26th Test – April 24th

VI. Finance (10 days) – Everyone invests in the economy, even if they do not know it. Pensions, bank accounts, and insurance policies are all used to invest in our economy on behalf of individuals. Students will understand the benefits of our financial system and the restraints/supervisions that are placed upon it.

A. Financial system. Chapters 10 April 26th Chapter 11 May 1st Chapter 15 May 3rd

B. Investing, Saving C. Borrowing, Purchases D. Debt and Credit Test – May 8th 6 Current Events due May 6th!

Freakonomics book review is due February 2nd Project for 3rd quarter due March 4th, paper due March 11th. American Dream Paper due April 23rd. Project for 4th quarter due May 13th Last Day for Seniors May 22nd Final June 1st

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Freakonomics Students will read the book Freakonomics by Steven Levitt and Stephen Dubner, which is about variety of unusual economic topics. Students will take a set of quizzes on the book, but must also write a 500 word book review. The review must include a summary of the book, the point of the author and your opinion. In the paper, you should also reference a published book review and write whether you agree or disagree with their opinion of the book. You must also use evidence to support or disprove the author’s opinion on at least one topic that they have included in the book. The review will follow MLA format, Times New Roman Size Twelve Font, double spaced with a title page, outline and works cited page. Papers will be due by February 20th at 11:59 pm. Grading will follow the format included on this page. Cite Freakonomics, the published book review you included, and the source you used to gather facts about one of the topics they discussed.

Criteria Needs Developing (0) Developing (2) Proficient (4) Highly Proficient (6)

Focus-Content (Addressing the question)

Written response is confusing and needs more information. Does not answer questions proposed for paper.

Ideas are scattered and need further development. Answer some questions with facts.

Developed ideas and essentially accurate information. Answer most questions with facts.

Sophisticated, substantial, well-developed ideas. Answer questions and back up with facts.

Organization (Overall order, flow, and transitions)

Details and examples show confused organization; hard to follow

Details and examples show incorrect organization

Information in logical order with paragraphs and transitions

Information is presented in effective order; paragraphs and transitions help paper flow smoothly

Introduction/ Conclusion

Introductory/ Conclusion paragraph is not apparent

Introductory/ Conclusion paragraph is vague

Introductory/ Conclusion paragraph contains a focus

Introductory/ Conclusion paragraph has a sharp, distinct focus

Style/Mechanics Lack of sentence/word choice variety and repeated weaknesses in mechanics interfere with writing. (15+)

Limited sentence/ word choice and mechanical errors somewhat interfere with writing. (10-15 )

Some variety in sentence structure and word choice. Some mechanical errors. (5-10 )

Word choice is excellent. Few or no mechanical errors. (5 or below)

Sources Insufficient resources are used

Research accomplished by one well chosen and stated source.

Research accomplished by two well chosen and stated sources.

Research accomplished by three or more well chosen and stated sources.

5 points will be taken off for each instruction not followed or not working on assignment will in lab/room.

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Name period Nation-State Research

As we have discussed in class, nations range from having free markets, to command economies. No nation is perfectly free or command; instead, they fall on a scale ranging from one to the other. Below is an example. The USA falls close to free and the former USSR fell close to command. Economic continuum: Free Market--- -------USA----------------------------------------China--------USSR-Command

Choose any nation except the USA and use at least three internet sites to research their economies. Make sure the CIA fact book is one of these sites. Do not use any wiki sites. The most important thing you need to do is place your nation on the scale and report on the condition of the economy. Would it be closer to command or free market? How much is the government involved? How successful is the nation? This could be summed up in a thesis statement such as: With low taxes and a moderate amount of government regulations, the American economy is closer to the free market side of the spectrum while retaining a high amount of success as proved by its GDP. What is the background of this nation-state? What historical events have affected their economy? Is this due to the amount of government involvement? What is their government like? What type of natural resources do they have? What is the size of their population? How do they use their land? What is their economy like? (Discuss poverty, unemployment, stability) How is the government involved in the economy? What indirect economic signs indicate how well off their nation is? Find five. (Life – expectancy) You will complete a PowerPoint presentation that will last 3-5 minutes. You will include a title slide, at least four bullets of text, a practical illustration on each slide, along with a works cited slide. You must have a total of seven slides. This is the bare minimum! You will also submit a 1000 word report summarizing your findings. You will be graded on the following: Creativity (but don’t be annoying) Pertinent Information Following Directions Accuracy Speech and Eye Contact Clarity of Presentation

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Name period date _________ Academic Economics

Persuasive Project Economic policies are usually the most politically pivotal issues. Public interpretation of these policies influences elections, government regulation, treaties, and much more. These issues are divisive and the public either splits on the topics and/or has little comprehension of them:

1. Minimum Wage – RAISE it. 2. Minimum Wage – STAY at $7.25. 3. Welfare is a SUCCESS. 4. Welfare is a FAILURE. 5. Flat taxes are good (example: everyone

pays 3%) 6. Progressive taxes are good (the richer

you are, the bigger percentage you pay) 7. Regressive taxes are good (example:

national sales tax). 8. Permanent tax cuts would be GOOD

for the economy. 9. Permanent tax cuts would be BAD for

the economy. 10. The government SHOULD USE

DEFICIT SPENDING. 11. The government SHOULD NOT USE

DEFICIT SPENDING. 12. Free trade is BENEFICIAL. 13. Free trade is NOT BENEFICIAL. 14. We SHOULD have a national health

care system. 15. We should NOT have a national health

care system.

16. The USA should send MORE foreign aid.

17. The USA should send LESS foreign aid.

18. Wealthy nations SHOULD forgive poorer nations’ debt.

19. Wealthy nations SHOULD NOT forgive poorer nations’ debt.

20. Environmental regulations are BENEFICIAL for America and the economy.

21. Environmental regulations are HARMFUL for America and the economy.

22. PRO-Organized Labor. 23. ANTI- Organized Labor. 24. Continue to drill for OIL, especially in

North America. 25. Switch resources to ALTERNATIVE

FUEL SOURCES. 26. Continue to use COALS as an energy

source. 27. Increase usage of NUCLEAR energy. 28. Wal-Mart is GOOD for the economy. 29. Wal-Mart is BAD for the economy.

You will gather evidence to prepare for your position that you will present to the class. Each person must have a 1000 word report that has the information you will use when presenting your case (Times New Roman Size Twelve Font and Double Spaced, MLA). There will also be a title page, outline and a works-cited page and sources will be cited in the paper. Grading will take into account if you are able to persuade the audience based on a convincing presentation. Grading will take into account if you are able to persuade the audience based on a convincing presentation (When presenting you should also counteract any opposing positions that could be taken to yours) and come up with three questions to ask the opposition. Students should use at least four sources (one from journals or books) to get a perfect score on that section of the rubric. NO ENCYCLOPEDIAS! Presentations and paper will be turned in on the same day. Presenters will be limited between three and five minutes per presentation. Reports will be worth 100 points and the power point presentation itself will be worth 100 points. Presentations will take place at random and students will not read from their paper or slideshow. Those absent will be pressed to the end of the list and will probably have to make up the presentation on their own. All should be prepared to present, on the first day! Papers and presentations will be turned in prior to the first day. Surveys will be taken at the end of the debates. Students will rate if their opinion has changed and which of the groups had the most convincing presentation. Students that are selected by the most students as having the more convincing presentation will receive five points. Students absent the day of their presentation will not be eligible for the points and will have present on a different day. A visual (simple power point) will accompany the presentation. They must also be completed and turned in with the paper.

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Paper Rubric: 5 4 3 2 1 Paper format (x3) Title page, outline,

works cited with no errors.

Title page, outline, works cited with 1-5 errors.

Title page, outline, works cited with +5 errors.

Missing 1 component.

Missing 2 components or 1 missing with multiple errors.

Research (X3)

4 sources for research cited properly.

3 sources for research cited properly.

2 sources for research cited properly.

1 source for research cited properly.

0 sources for research cited properly. (x0)

Written Report (X3)

Organized into clear paragraphs.

Mostly organized into clear paragraphs.

Organized into paragraphs.

Paragraph form. No clear paragraphs.

Thesis (X3) Outlines clear and original thesis that matches paper topic and is strongly supported by points of argument.

Writes clear thesis that matches paper topic and is supported by points of argument.

Writes thesis that matches paper topic and is somewhat supported by points of argument.

Writes thesis that matches paper topic and is slightly supported by points of argument.

Unclear thesis that resembles paper topic and is barely supported by points of argument.

Spelling/Grammar (X4)

No errors. 1-5 errors. 6-10 errors. 10-15 errors. 16-20 errors.

Position Taken (X4)

Articulates clearly. State five points of arguments for and three against using specific, factual information.

Articulates clearly. State four points of argument for and two against using specific, factual information.

Articulates clearly. State three points of argument for and one against using specific, factual information.

Articulates clearly. State two points of argument for and refutes opposite position.

Unable or unwilling to articulate clearly, State points of argument using specific, factual information.

Rubric for Presentation half of the debate project: Students will present for 3-5 minutes. You will be signaled when three and four minutes approach and cut off when five minutes approach. Other five points will be voted on by students.

5 4 3 2 1 Eye Contact (X2) Looks at audience

almost all of the time, glancing at notes occasionally.

Looks at audience half of the time, looking at notes.

Looks at the audience less than half of the time. Reading directly from notes throughout presentation.

Looks at audience almost all of the time. Reading from notes throughout most of the presentation.

Rarely or never looks at audience. Reads from notes.

Questions (x3) In depth questions that the opposition has cannot answer.

In depth questions that the opposition has difficulty answering.

Questions that the opposition answers.

Questions that is merely factual, answered with total ease.

Only two questions asked.

Answering questions (x3)

Answers questions with ease.

Has difficulty answering one of the questions.

Has difficulty answering two of the questions.

Has difficulty answering all of the questions.

Cannot answer any of the questions at all.

Voice (X2) Voice can be heard at the back of the room all of the time.

Voice can be heard at the back of the room most of the time.

Voice can be heard at the back of the room half of the time.

Voice can be heard at the back of the room less than half of the time.

Voice cannot be heard at the back of the room.

Visual (x3) Creative, illustrated with major points that emphasize presentation, without taking away from speaking ability.

Illustrated with major points that emphasize presentation, without taking away from speaking ability.

Major points or illustrations that emphasize presentation, without taking away from speaking ability.

Distraction from speech. Attention of audience or speaker taken away.

Major distraction from speech. Attention of audience or speaker taken away.

Time (X2) 3-5 minutes Fifteen seconds less or more.

Thirty seconds less or more.

Forty-five seconds less or more.

One minute less or more.

Debate (X4)

Articulates clearly. State five points of arguments for and three against using specific, factual information.

Articulates clearly. State four points of argument for and two against using specific, factual information.

Articulates clearly. State three points of argument for and one against using specific, factual information.

Articulates clearly. State two points of argument for and refutes opposite position.

Unable or unwilling to articulate clearly, State points of argument using specific, factual information.

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Name date April 24th period

American Dream Describe the positions of the following organizations on the ensuing negotiations: Local P-9: International UFCW: Hormel: Families that break away from the strike: Public: Write a movie review. Summarize the documentary with the information from above in one paragraph. Secondly, write a paragraph about the point of the movie. What was the filmmaker attempting to show here? Write a third paragraph reflecting your own personal opinion of the film. Who do you think is to blame for this breakdown? This is a matter of opinion. Back up your opinion with an explanation. Who do you think lost or won the most here? Lastly, write a paragraph on how you think this film portrayed the plight of unions in the United States. This will typed double-spaced, Times New Roman size twelve font. Make sure to include name, period and date. (25 points + 5 points for these notes). The rubric following the book review is for grading your writing. This

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short 500 word essay will be worth thirty points. Scoring a six on each category will earn students thirty points. Main idea or thesis should be the focus of supportive research. MLA format is necessary. Short papers will follow this rubric.