Economics+Syllabus



**__ Syllabus for IB Economics __** ** McCaskey **** East High School ** ** Period 3 ** || **__ COURSE DESCRIPTION __**** : ** Everyday, we, as individuals and as a society, make economic decisions that have both short term and long term consequences. Coming to an understanding of exactly how and why we make these decisions and how the resulting consequences occur is a large part of the study of Economics. Individuals and societies face essentially the same problems. Every decision leads inevitably to consequences that are sometimes vastly different from what we might normally expect. Economics tells us how to discover, evaluate and weigh these decisions. For example, should we use scarce resources to build a new school in our community or expand the local hospital? Is there a logical way to compare the net benefits to our society of each choice? Although Economics involves the formulation of theory, it is not a purely theoretical subject: economic theories can be applied to real-world examples, even things that happen in your daily life. And you'll be surprised to see that Economics also has to do with history, geography, psychology, sociology, political studies and many other related fields of study. We'll also focus on the international side of economics, and how some developing countries are dealing with growth. **__ COURSE OBJECTIVES __**** : **  · Provide students with a core knowledge of economics · Encourage students to think critically about economics · Promote an awareness and understanding of internationalism in economics · Enable students to distinguish between positive and normative economics · Have an understanding and knowledge of economic concepts and theories · Apply economic theory to a range of circumstances and a variety of situations · Analyze information through the use of economic concepts and theories · Evaluate concepts and theories from different economic perspectives · Enable students to recognize their own tendencies for bias · Encourage students' development as independent learners  IB Economics is presented at the Standard Level in the “Individuals and Societies” part of the IB Diploma program. A college level course, IB Economics is offered to students in the diploma program as well as students seeking the challenge of an honors course. Successful completion of the IB Assessment in Economics can lead to college credit or advance placement in college. All students are expected to take part in the IB Assessments: Internal and External. With additional preparation, a student may also consider taking the Advanced Placement Exams in either Microeconomics or Macroeconomics. **__ TEXT STUDIED IN COURSE __**** : ** Blink, Jocelyn and Ian Dorton. //Economics Course Companion//. Oxford University Press, 2007 (ISBN: 9780199151240) **__ SUPPLEMENTAL TEXTS __**** : ** In preparation for the external assessment, students may wish to purchase: Ziogas, Constantine. //Study Guide to Economics for the IB Diploma//. Oxford University Press, 2008  **__ BEHAVIOR EXPECTATIONS __**** : **  1. Each student is to keep an open but critical mind to new ideas, concepts and topics covered throughout the year. 2. Respect for one another in classroom discussions, groups, projects, especially as relates to gender, sexual orientation, ethnic background or disability. 3. Class participation 4. Completion of assignments 5. Prepared to learn: equipped and ready. 6. Punctuality. In seats by the bell. Stay in your seats until I dismiss you. 7. Compliance with the MIT Code of Conduct and the “Big 6”. 8. Appropriate and constructive use of technology in the classroom.  Attendance in class is critical to success in this class, but in the event of excused absence, students will be able to hand in some late assignments. All make-up work is the responsibility of the student. Assignments are posted at the rear of the classroom and on unit assignment sheets. See Mr. Selch before or after class, if time allows, or before or after school with questions. Do not interrupt class to get make up work. All approved make up work must be handed in to Mr. Selch within 3 days of your return to school. Only make up work due during excused absences will be graded. Makeup tests must be taken either before or after school, not during class period. 1. Students are expected to supply their own spiral notebook for this class. A high quality notebook is suggested to survive for the whole year of use (you may need 2). DO NOT plan to share this notebook with other classes. 2. Note-keeping and organization of the notebook is the responsibility of the student. All reading assignments will be summarized by students in their notebook. 3. Notebooks are collected twice each marking period and graded as part of your class grade. Neatness and organization will be part of the grade. Notebook grade counts 20% of your marking period grade. ** Homework ** Homework is fundamental to the learning process. It reinforces the topics as well as introduces new material. Assignments may be reading, writing, watching the news. Be prepared to turn in your assignments at the beginning of the period. Late assignments will NOT get any credit. If you do not produce your homework within the allotted time, you will earn a zero on the assignment. Although homework counts for no more than 10%, failure to do homework assignments will degrade your ability to learn the content of this class and will likely result in poor quiz, test and exam grades. **__ ASSESSMENT INSTRUMENTS __**** : ** Every chapter will end with a chapter test. In addition there will be quizzes on reading assignments, daily in class writing activities, take home essays, and various research and performance projects. See above for information on assessment of your notebook. See below for IB specific assessment.  1. Grades are registered by their numerical value in the grade book. 2. Failure to do an assignment, test or project by the deadline set by Mr. Selch could result in a ZERO. __Some__ work may be turned in after the deadline. All work due and not handed in by the end of the marking period will receive a ZERO. 3. Grade sheets will be posted occasionally to inform students of their grades. Students can inquire about their grades before or after school. 4. Tests and projects 50%, Homework 5%, Internal Assessments 15%, In-class Assignments and quizzes10% and Notebook 20%. 5. Curriculum-based assessments: homework (no more than 10% of student’s grade), quizzes, unit tests, in-class presentations, essays, speeches and authentic assessments (such as brochures, posters and PowerPoint presentations). 6. A course Mid-Term and Final Exam will be administered to all students and will count for 10% of the student’s second- and fourth-marking period grade, respectively. 7. The Grading Scale will follow district guidelines adopted 7/13/06 and listed in the Student Handbook <span style="font-family: 'Times New Roman'; font-size: 10.5pt; layout-grid-mode: line; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-US;"> **__ pLAGIARISM POLICY/HONOR POLICY __**** : ** **__ TECHNOLOGY __** : Mr. Selch teaches in a technology rich classroom as part of the Classrooms For the Future. All students are expected to become active users of technology. This will involve student submission of assignments online, use of “blogs”, “wikis”, email and the World-wide Web. Students will be expected to participate fully in the use of 21st Century learning. As such, all students will comply with School District of Lancaster Terms of Use of Technology as well as classroom rules. Students will also subscribe to appropriate and respectful norms of communication online. Failure to comply with be subject to disciplinary action as defined by the Student Handbook and the possibility of student being denied use of technology. Students forbidden from the use of technology can fail to engage in the learning activities required for the successful completion of this course.
 * ** Course Title and Number: ** || ** IB Economics SL- IB713 ** ||
 * ** Instructor: ** || ** Mr. Selch ** ||
 * ** Class Location and Time: ** || ** Room D116 **
 * McCaskey Institute of Technology **
 * ** Email: ** || ** nfselch@lancaster.k12.pa.us ** ||
 * ** Telephone: ** || ** 391-8679 or 396-6810 ext 31416 ** ||
 * ** Time Available for Conference: ** || ** before or after school ** ||
 * ** Class Wiki page for assignments: ** || ** http://sdolselchecon.wikispaces.com ** ||
 * __ INTERNATIONAL BACCALAUREATE PROGRAM __**
 * Daily expectations **
 * Attendance **
 * Notebook **
 * __ GRADING POLICY __**** : **
 * Cheating ** will not be tolerated. Always paraphrase. If you copy verbatim out of the book you are plagiarizing thus earning a ZERO. Also see the McCaskey Student Handbook and the “note on academic honesty” on page 5 of your text.

2009-10 SYLLABUS CONTRACT IB713

I have read and had opportunity to discuss and understand the information and policies stated in the __syllabus__ for this year. I will abide by those policies and work to the fullest measure of my abilities to conform to the expectations and deadlines. I will also seek active assistance and advice from Mr. Selch in the event I need help.

Date <span style="font-family: 'Times New Roman'; font-size: 12pt; layout-grid-mode: line; mso-ansi-language: EN-US; mso-bidi-font-size: 10.0pt; mso-bidi-language: AR-SA; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-US;"> **__<span style="font-family: Times New Roman; font-size: 10.5pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 10.0pt; msobidifontfamily: Arial; msobidifontsize: 10.0pt;">ACTIVITIES, TIMELINE OF STUDY __** <span style="font-family: Times New Roman; font-size: 10.5pt; mso-bidi-font-family: Arial; mso-bidi-font-size: 10.0pt; msobidifontfamily: Arial; msobidifontsize: 10.0pt; text-decoration: none;">

<span style="font-family: Times New Roman; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT; msobidifontfamily: ArialMT;">Students in IB Economics SL will study these topics:

**<span style="font-family: Arial-BoldMT; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: Arial-BoldMT;">Section 1 Introduction to Economics **<span style="font-family: ArialMT; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT;">September 2009 <span style="font-family: Times New Roman; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT; msobidifontfamily: ArialMT;">General Questions: Why study economics? What to produce? For whom to produce? **<span style="font-family: Arial-BoldMT; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: Arial-BoldMT;">Section 2 Microeconomics **<span style="font-family: ArialMT; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT;">September - October 2009 <span style="font-family: Times New Roman; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT; msobidifontfamily: ArialMT;">General Questions: What are markets? How does competition affect a market structure? How does the distribution of income and wealth affect a society? <span style="font-family: Symbol; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msofareastfontfamily: Symbol; msolist: Ignore;">· <span style="font-family: Times New Roman; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT; msobidifontfamily: ArialMT;">Markets - Elasticities - Market Failure **<span style="font-family: Arial-BoldMT; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: Arial-BoldMT;">Section 3 Macroeconomics **<span style="font-family: ArialMT; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT;">November-January 2010 <span style="font-family: Times New Roman; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT; msobidifontfamily: ArialMT;">General Questions: How is economic policy developed? Does economic growth improve quality of life? <span style="font-family: Symbol; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msofareastfontfamily: Symbol; msolist: Ignore;">· <span style="font-family: Times New Roman; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT; msobidifontfamily: ArialMT;">Measuring National Income - Introduction to Development - Macroeconomic Models - Demand-Side and Supply-Side Policies - Unemployment and Inflation - Distribution of Income **<span style="font-family: Arial-BoldMT; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: Arial-BoldMT;">Section 4 International Economics **<span style="font-family: ArialMT; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT;">January-February 2010 <span style="font-family: Times New Roman; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT; msobidifontfamily: ArialMT;">General Questions: Does trade increase the standard of living? How can lesser developed countries compete with industrialized nations in the global marketplace? How does a country protect its domestic economy? <span style="font-family: Symbol; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msofareastfontfamily: Symbol; msolist: Ignore;">· <span style="font-family: Times New Roman; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT; msobidifontfamily: ArialMT;">Reasons for trade - Free Trade and Protectionism - Economic Integration - World Trade Organization (WTO) - Balance of Payments - Exchange Rates - Balance of Payment Problems - Terms of Trade. **<span style="font-family: Arial-BoldMT; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: Arial-BoldMT;">Section 5 Development Economics **<span style="font-family: ArialMT; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT;">March – May 2010 <span style="font-family: Times New Roman; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT; msobidifontfamily: ArialMT;">General Questions: How are world trading patterns determined? What are some effective strategies to achieve economic growth and development? To what extent should corporations be held responsible? <span style="font-family: Symbol; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msofareastfontfamily: Symbol; msolist: Ignore;">· <span style="font-family: Times New Roman; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT; msobidifontfamily: ArialMT;">Sources of Economic Growth and/or Development – Consequences of Growth – Barriers to Economic Growth and/or Development Strategies

**<span style="font-family: Times New Roman; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: Arial-BoldMT; msobidifontfamily: Arial-BoldMT;">IB Assessment Structure: ** <span style="font-family: Times New Roman; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: Arial-BoldMT; msobidifontfamily: Arial-BoldMT;"> <span style="font-family: Times New Roman; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT; msobidifontfamily: ArialMT;">75% External Assessment (May 2010) The external assessment consists of two written examination papers covering all course objectives and five sections of the course outline. Written Paper 1 (Essay)-1 hour- 25%, Paper 2 (Data response) - 2 hours- 50%. External Assessment and rubric will be detailed separately.

25% Internal Assessment (Completed and submitted to IBO by April 2010) The internal assessment consists of a portfolio of four commentaries, each 650-750 words, based on a news media extract, linking economic theory to a real-world situation. Three of the four commentaries must have as their main focus a different section of the syllabus, although it is acceptable for commentaries to make reference to other sections. The fourth commentary can focus either on a single section or on two or more sections of the syllabus. The extracts may be from a newspaper, journal or the World Wide Web, but must not be from television or radio broadcasts. Internal Assessment Criteria and rubric will be detailed separately. <span style="font-family: ArialMT; font-size: 11pt; layout-grid-mode: both; mso-bidi-font-family: ArialMT;"> || Introduction to Economics || 9/04/09 || 9/16/09 (8 days) || || Microeconomics <span style="font-family: 'Arial Narrow'; font-size: 11pt; mso-bidi-font-family: 'Arial Narrow'; mso-fareast-font-family: 'Arial Narrow'; msobidifontfamily: 'Arial Narrow'; msofareastfontfamily: 'Arial Narrow'; msolist: Ignore;">2.1 Markets || 9/17/09 || 9/25/09 (7 days) || || 2.2 Elasticities || 9/28/09 || 10/09/09 (10 days) || || IB Internal Assessment #1 || ||  || || 2.4 Market Failure || 10/12/09 || 10/23/09 (10 days) || || IA#2 || ||  || || Macroeconomics 3.1 Measuring National Income || 10/26/09 || 11/09/09 (9 days) End of MP 1 || || 3.2 Introduction to Development || 11/10/09 || 11/20/09 (9 days) || || 3.3 Macroeconomic Models || 11/23/09 || 12/04/09 (7 days) || || 3.4 Demand-side, Supply-side || 12/07/09 || 12/11/09 (5 days) || || 3.5 Unemployment || 12/14/09 || 12/18/09 (5 days) || || IA#3 || ||  || || 3.6 Inflation || 12/21/09 || 1/8/10 (8 days) || || 3.7 Distribution of Income || 1/11/09 || 1/21/10 (8 days) || || Required for all students || TBD || TBD 1/26/10 End of MP2 and SM1 || || ||  ||  || ||  ||  || || International Economics 4.1 Reasons for Trade || 1/22/10 || 2/01/10 (6 days) || || 4.2 Free Trade and Protectionism || 2/02/10 || 2/12/10 (9 days) || || 4.3 Economic Integration || 2/16/10 || 2/22/10 (5 days) || || IA#4 || ||  || || 4.4 WTO || 2/23/10 || 2/26/10 (4 days) || || 4.5 Balance of Payments || 3/01/10 || 3/05/10 (5 days) || || 4.6 Exchange rates || 3/08/10 || 3/12/10 (5 days) || || 4.7 Balance of Payment Problems || 3/15/10 || 3/19/10 (5 days) || || All 4 IA submitted to Mr. Selch || 3/19/10 || || || Development Economics 5.1 Sources of Growth and Development || 3/22/10 || 3/26/10 (5 days) || || 5.2 Consequences of growth || 3/29/10 || 4/09/10 (7 days)
 * ** Semester 1 ** || ** Topic ** || ** Start ** || ** End ** ||
 * Unit 1:
 * Unit 2:
 * Unit 3:
 * Mid-Term exam period
 * ** Semester 2 ** ||
 * Unit 4
 * Unit 5

4/6/10 End of MP3 || || 5.3 Barriers to Growth || 4/12/10 || 4/16/10 (5 days) || || 5.4 Growth and Development Strategies || 4/19/10 || 4/23/10 (5 days) || || 5.5 Evaluation of Development strategies || 4/26/10 || 4/30/10 (5 days) || || || 5/03/10 || 5/07/10 || ||  || 5/03/10 || 5/21/10 || || Enrichment Projects <span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msofareastfontfamily: Symbol; msolist: Ignore;">· Globalization <span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msofareastfontfamily: Symbol; msolist: Ignore;">· US Banking System <span style="font-family: Symbol; font-size: 11pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol; msobidifontfamily: Symbol; msofareastfontfamily: Symbol; msolist: Ignore;">· The Crash of 2008 || 5/10/10 || 6/4/10 || || Required for all students || TBD || TBD 6/10/10 End of MP4 and school year || All dates are approximate
 * Review Period
 * IB/AP Exams
 * Final Exam Period