ECONOMICS COURSE MAP
UNIT 1: Fundamental Economic Concepts (1)- 1 week
Standards- EF4 a-d, EF2 a-b, EF3 a-b
Concepts- scarcity, trade-offs, opportunity costs, rational decision making,
specialization, and voluntary exchange
UNIT 2: Fundamental Economic Concepts (2)- 2 weeks
Standards- EF4 a-b, EF5 a-b, EF6 a-b
Concepts- types of economic systems, basic economic questions, roles of
government in a market system, government regulation/ deregulation, capital
investments- human capital and capital goods, standard of living
UNIT 3: Microeconomic Concepts (1)- 2 weeks
Standards- EMI1 a-b, EMI2 a-d
Concepts- circular flow diagram- product market and resource market, Law of
Supply, Law of Demand, prices are incentives, equilibrium price
UNIT 4: Microeconomic Concepts (2)- 2 weeks
Standards- EMI3 a-c, EMI4 a-c
Concepts- determinants of supply and demand, price floors, price ceilings,
surpluses, shortages, forms of business organizations- sole proprietorships,
partnerships, corporations, four types of market structures- oligopoly,
monopoly, monopolistic competition, pure competition
UNIT 5: Macroeconomics Concepts (1)- 2 weeks
Standard- EMA1 a-f
Concepts- Gross Domestic Product (GDP), economic growth, Consumer Price
Index (CPI)- inflation, stagflation, aggregate supply and demand, types of
unemployment- structural, cyclical, frictional, seasonal, stages of the business
cycle- peak (boom), trough, expansion, contraction, recession, depression,
national debt, government defecits
UNIT 6: Macroeconomics Concepts (2)- 2 weeks
Standards- EMA2 a-c, EMA3 a-b
Concepts- Federal Reserve System, tools of monetary policy, tools of fiscal
policy, government’s taxing and spending decisions
UNIT 7: International Economics- 2 weeks
Standards- EIN1 a-c, EIN2 a-e, EIN3 a-d
Concepts- absolute advantage, comparative advantage, balance of trade,
balance of payments, trade barriers- tariffs, quotas, embargoes, standards,
subsidies, trading blocks, arguments for and against free trade, currency
exchange rates
UNIT 8: Personal Finance (1)- 2 weeks
Standards- EPF1 a-c, EPF2 a-d, EPF3 a-c
Concepts- rational spending and saving choices, savings and investment plans-
stocks, bonds, mutual funds, role of banks and other financial institutions,
relationship between risk and return, interest charged vs. interest earned,
evaluate types of taxes- progressive, regressive, and proportional,
UNIT 9: Personal Finance (2)- 1 week
Standards- EPF4 a-c, EPF5 a-b, EPF6 a-b
Concepts- costs and benefits of using credit, comparing interest rates, types of
insurance- auto, health, life, diability, and property, successful skills in the
workplace and their relation to earning potential, investing in education
UNIT 10: ECONOMICS COURSE REVIEW- 2 weeks
Course review of all standards and take EOCT practice tests