CHS – Elysian Valley Branch Unit Contract
Unit 2 Overview: Microeconomics
This unit will examine major markets with respect to the degree of competition
within each type and how this affects buyers and sellers..
California State History-Social Science content standard(s)
Principles of Economics
12.2 Students analyze the elements of America's market economy in a global setting.
1. Understand the relationship of the concept of incentives to the law of supply and the
relationship of the concept of incentives and substitutes to the law of demand.
2. Discuss the effects of changes in supply and/ or demand on the relative scarcity, price,
and quantity of particular products.
3. Explain the roles of property rights, competition, and profit in a market economy.
4. Explain how prices reflect the relative scarcity of goods and services and perform the
allocative function in a market economy.
5. Understand the process by which competition among buyers and sellers determines a
6. Describe the effect of price controls on buyers and sellers.
7. Analyze how domestic and international competition in a market economy affects goods
and services produced and the quality, quantity, and price of those products.
8. Explain the role of profit as the incentive to entrepreneurs in a market economy.
9. Describe the functions of the financial markets.
10. Discuss the economic principles that guide the location of agricultural production and
industry and the spatial distribution of transportation and retail facilities.
Essential Question: How do we attempt to balance both
needs and wants within our society?
This question will be the basis for your oral defense at the end of the week..
Unit 2 chapters:
6. Prices and Decision Making
7. Market Structures
This contract is worth 5 points, with each layer qualifying you for a letter grade.
Chapter 7: Market Structures - This chapter will explain how prices
for products in a market economy are determined by the interaction of supply and
All work on Chapter 7 must be completed by Friday, April 9 to receive full credit.
Late work will automatically receive a reduction of one letter grade.
LAYER C - 3 points
__________ 1. Read and review the economics chapter material provided,
including Word Bank and Key Concepts from Chapter 7 of Glencoe Economics:
Principles and Practices and incorporate notes into a comprehensive Learning
__________ 2. Attend and take notes on all discussions. These discussions will
include an overview of the following themes:
a. Competition and Market Structure
b. Market Failures
c. The Role of Government
All discussions must be incorporated into completed Learning Logs (.5 point).
__________ 3. Complete chapter quiz on Friday, April 9 (2 points).
LAYER B – 1 point
__________ 1. Complete the “Note Taking Study Guide” forms provided for
Chapter 7 (1 point).
LAYER A – 1 point
__________ 1. Your “A” Level assignment is the following: You are to prepare
your Oral Defense for this unit (you will find the Essential Question on the first
page of the contract). To answer this question, you may use notes from previous
Learning Logs, quiz questions, Study Guides, etc. You may also use any
previous “A” level projects as part of your presentation. It is highly recommended
1. Use a presentation format during your Oral Defense interview.
2. Review and use the Grading Rubric (located below) as a guide to craft the
Oral Defense presentation.
Mr. and Mrs. Vargas will assign interview times for this Thursday.
Note: this Oral Defense is mandatory; failure to complete the assignment will
jeopardize receiving credit for this Economics course (1 point).
The Quiz Question, Study Guide, and the Student Self-Evaluation Form are
available online at www.chselysianvalley.wordpress.com
Grading Rubric for Economics
Full, Partial or No Credit
Full Credit: all information provided is accurate; information presented reflects
thorough research; presentation lively and well organized
Partial Credit: most information provided is accurate; information presented
reflects adequate research; presentation flat, but satisfactorily organized
No Credit: significant inaccuracies in material turned in; research inadequate;
presentation flat and lacking in organization or no material turned in.
Full Credit will provide you with the maximum number of points available.
Partial Credit will earn you a portion of the available points.
No Credit on any contract will jeopardize your letter grade and your ability to
earn credits for this subject.