Economics

I.  Introduction to Economics:  Making Choices

         A.  Definitions of Economics

         B.  Basic Questions of Economics

         C.  Factors of Production      

II.   The Free Enterprise Economy

          A.  The United States Economic System

          B.  Production and Productivity

 III. Demand, Supply, and Market Price

 IV. The Role of Business

          A.  The Organization of Business

                   1.  Single Proprietorship

                   2.  Partnership

                   3.  Corporation

          B.  A Corporation's Infrastructure

          C.  Monopolies and Imperfect Competition

          D.  Big Business and Government Control

                   1.  Government Regulation

                   2.  Antitrust Laws

                   3.  Public Utilities

 V.  The Role of Labor

          A.  Labor Force in Our Economy

                   1.  Demand for Labor

                   2.  Supply of Labor               

          B.  Labor Unions in Our Economy                       

                   1.  History of Labor Unions

                   2.  Current Problems of Labor Unions

VI. The Role of Government

          A.  The Growing Importance of Government

                   1.  The Federal Budget

                   2.  The Impact of Government Spending

          B.  Taxation

                   1.  Federal

                   2.  State

                   3.  Local

         C.  Transfer Payments and the Government

                   1.  Welfare

                   2.  Social Security

                   3.  Other Programs

VII. Money, Credit, and Banking

          A.  Money in Economic Society

                   1.  The History of Money

                   2.  The Production and Distribution of Currency

          B.  Banks and Banking

                   1.  Origins of Banking

                   2.  Commercial Banking

                   3.  The Federal Reserve System

          C.  The Fluctuation Value of Money

                   1.  The Causes of Inflation

                   2.  Inflation Fighting

VIII. Personal Economics

          A.  Personal Savings and Consumer Credit

                   1.  Implications of Savings

                   2.  Kinds of Credit Available

          B.  Prudent Consumers

                   1.  Consumer Protection

                   2.  Advertising and the Consumer

IX. Promoting Economic Stability

A.  Measuring the Nation's Economic Performance

1.  GDP

                   2.  GPI

B.  The Level of Economic Activity

                   1.  The Business Cycle

                   2.  The Great Depression

                   3.  Analysis of Present Economic Activity

          C.  Managing the Nation's Economy

                   1.  Fiscal Policy

                    2.  Monetary Policy

                   3.  The National Debt/Deficit

X.  Current Issues in the United States Economy

          A.  The Economics of Cities

                   1.  Urban Problems

                   2.  Urban Solutions:  Philadelphia as case in point

          B.  The Economics of Farming

                   1.  Farming Problems

                             a)  Small Farms

                             b)  Agribusiness

                   2.  Government and the Farmer

          C.  Economic Growth and the Quality of Life

                   1.  The Importance of Economic Growth

                   2.  The Ingredients of Economic Growth

                   3.  The Controversy over Economic Growth

XI. The Global Economy

          A.  International Trade

                   1.  The Globalization of Business

                   2.  Exchange Rates

                   3.  The Balance of Payments

                   4.  Barriers to World Trade

          B.  Other Economic Systems

                   1.  Comparison of Economic Systems

                             a)  Communism

                             b)  Socialism

                   2.  Lesser Developed Countries

                             a)  A Program for LDCs

                             b)  The Costs of Development in LDCs

 Evaluation Methods:

          Homework--both written and reading assignments

          Tests and Quizzes--both objective and subjective in content

          Outside Readings

          Participation/Preparedness every day

          Compositions/Essay questions--various topics

Projects/Papers: 

                               Resume and Applications     Stock Market Experience

                               Career Choice                   Corporation Trace/CEO's

                               Invention Convention          Bank Survey

  Homework/Composition        Federal Reserve Comic Books

  Outside Readings

Films and Supplemental: 

Standard Deviants:  Microeconomics