Economics Course Description

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    Economics (One-Half Credit)
    Recommended for Grade 12


    Economics with emphasis on the free enterprise system and its benefits is the culmination of the economic content and
    concepts studied from kindergarten through required secondary courses. The focus is on the basic principles concerning
    production, consumption, and distribution of goods and services (the problem of scarcity) in the United States and a
    comparison with those in other countries around the world. Students analyze the interaction of supply, demand, and price.
    Students will investigate the concepts of specialization and international trade, economic growth, key economic
    measurements, and monetary and fiscal policy. Students will study the roles of the Federal Reserve System and other
    financial institutions, government, and businesses in a free enterprise system. Types of business ownership and market
    structures are discussed. The course also incorporates instruction in personal financial literacy. Students apply critical thinking
    skills using economic concepts to evaluate the costs and benefits of economic issues