1. Senior Academics – Economics
Mr. Smith
1. Economics – What does the course involve?
Probably the most practical social science, this course will help prepare you to
observe and participate in the economy. You will be able to observe the global,
national, state, and local economies for purposes that range from voting to
investing. America’s stability and success has always been partly due to it’s
thriving economy. This economy will only continue to improve if it’s citizens are
educated about it. Other important institutions that you may participate in the
future and will learn about in class include businesses and labor organizations.
This class will also help you prepare for the most practical and personal economic
functions. These basic functions include checking, savings, taxes, and
employment. Academic economics is designed to prepare students for a
university career.
2. Organization of the Class
Discipline – Strictly follow discipline code and procedure of schools. Respect and
well-mannered behavior will be a must in class. Students will raise hands before
speaking, unless involved in group work. Students will not begin to leave until the
instructor has dismissed them. Those not acting responsibly will face the following
consequences:
1. Deduction of class participation points.
2. Warning.
3. Retraining.
4. Removed from room, alternative assignment.
5. Parents contacted
6. Office referral.
Insubordination, and harassment despite a warning of other students will result in
immediate dismissal to the office (this includes putting your head down).
Student Responsibilities – Bring all necessary writing materials. Students will be
expected to complete assignments on time. There will be no exceptions. Students will be
on time to class. Class participation will be a must. If you are not present for class,
immediately retrieve instructions and missed course work, this is your responsibility.
Student Attendance – Rules for attendance will be followed strictly. Students legally
absent up to three consecutive days will have three days to make up assignments. Those
absent for more than three days will have a number of days equal to the number missed.
Those not obtaining a legal excuse will receive a 0% on the assignment, even if they have
completed it and turned it in. This includes those illegally tardy! Those that are

2. consistently absent will be unable to receive benefits of in-class instruction and
participation.
Work – Notes will be taken in class with a possibility of notebook checks. Text will be
occasionally used so that you may receive information from as many different forms and
sources as possible. Unannounced quizzes will be used throughout the course to make
sure that you are keeping up to date on all class materials. Tests will occur at the end of
each unit. Current Events will be due at the end of the week. Smaller activities will
count as homework and occasionally we will work on larger projects. Late assignments
will be given 0%. No late work will be accepted. All assignments will be submitted
through the drop box on Blended Schools Blackboard by 11:59pm of assigned date
(Unless otherwise noted). If you have a Blackboard problem, please e-mail
fsmith@gorockets.org right away. Make some attempt to turn in the assignment (by e-
mail if necessary). You may text my e-mail, but please include your name. If you have
technology difficulties, please leave a voicemail at 814-827-2715 X 1240. You will have
to turn in a hard copy by 8:00 am the next school day and you will need proof of the error
(if an error message pops us, take a picture of it or print screen).
 Reading Quizzes – There will be no more than five per unit, but no less than one. These will only be
on basic terms and concepts, especially when readings have been assigned. Each will be worth ten
points.
 Essays and Papers – Essays and Papers – Will be worth thirty points. They will be
graded for content, accuracy, explanation, spelling, and grammar. Essays will be at
least 500 words in length. All papers will use MLA format. Include title, outline,
body, in-text citations and works cited.
 Projects – Projects – Consisting of a presentation and a 1000 word paper (which will
include a title, outline and works cited page), projects will be worth 100 points for
each part. All papers will use MLA format. Semester final exam (midterm),
class participation and project grade for the quarter will be taken X1 if
completed, X0 if not.
 Tests – Every unit will have a test. There are six units all together. We should complete three units
per quarter. These tests will consist of multiple choice, fill in the blank, and essay sections. Each will
be worth 100 points.
 Exam – Occurring at the end of the semester, this will simply be testing all material presented to that
point in the course. This will be similar to a regular unit test, but worth 200 points and spread over two
days. It will count as part of your final and as a grade for quarter 4. Not taking the exam will also
result in a loss of class participation points.
 Class Participation – Classroom behavior as well as your level of participation will be included in this
part of the grade. Students wishing to receive the full ten- percent of their grade for class participation
must answer or ask questions in class at least four times a week. Responses must be more than yes or
no answers. They will be backed up with an explanation. Disrespectful behavior, being tardy for class,
not turning in homework, not paying attention, and using class time unwisely will result in a deduction
of class participation.
 Current Events – Students will read articles from various publications that involve issue of economics
(national or international news). You must include a link to the article.

3. You will then write a paragraph summary, a second paragraph of your opinion
on the matter, and a third paragraph that relates this to economics. You may
retrieve these articles from any of the following renowned publications.
Newsweek, Time, US News and World Report, The New York Times, The
Washington Post, and the Wall Street Journal. You may also use USA Today. It
is important to use these national sources instead of local sources so you have
better access to a wide range of articles. One point will be taken off for each
direction not followed or if the paragraphs are not at least forty words each in
length for a total for 120 words. Most of these can be retrieved from the internet
and most will be available in class. Turn in a total of 6 current events every
quarter. Here are the following sites:
Newsweek: http://www.msnbc.com/news/NW-front_Front.asp
Time: http://www.time.com/time
Washington Post: http://www.washingtonpost.com/
New York Times: http://www.nytimes.com/ - this site involves registration, but it is
free.
US News and World Report: http://www.usnews.com/usnews/home.htm
USA Today: http://www.usatoday.com/
Each will be worth ten points. This assignment has the following qualities:
1. Responsibility – Due at end of every week.
2. Reading - Looking at various and renowned publications.
3. Writing – Summarizing, expressing yourself, and relating this to class
material.
4. Awareness – Realization of events that impact this nation and the
world.
Grades – The school’s grading system will be followed:
A: 90-100% D: 60-69%
B: 80-89% E: 50-59%
C: 70-79% F: Below 50%
The course will be weighted in the following manner:
Test: 50%
Quizzes: 15%
Class Participation 10%
Projects: 20%
In-Class Work 5%

4. 3. Organization of the Course Material
I. Basic Economics - Learn basic terms and structure of the study of
economics. Explore the economies of the United States and other
nation-states throughout history. Compare and contrast them and
analyze the American economy.
A. Economics – What is it?
Chapter 1 January 24th
B. Economic theories & systems - Adam Smith and Karl Marx
Chapter 2 January 26th
C. Command Economy - Economic History of the Soviet Union
D. Free markets, mixed economies and America. - Reaganomics.
Chapter 3 January 26th
Test January 31st
II. Economic Policy in the USA and World– Our collective nature,
through the government, safeguards or needs and rights. Some believe
that regulation and taxes are necessary, while other find them to be
crushing. Students will understand the impacts having little
government or too much involvement in the economy. Today’s
economy is interconnected throughout the world and provides the
USA with income and goods. Students will understand how the global
economy hurts and helps the economy.
A. Taxation.
Chapter 14 –February 2rd
B. Government Spending
Chapter 15 – February 7th
C. Global Economy and Free Trade.
Chapter 17 – February 9th
D. “Developed” World.
Chapter 18 – February 14th
E. Developing World.
February 20th – Freakonomics Review due
Test – February 21st
III. Macroeconomics - Measuring the economy is done with specific
means so that values can be compared throughout the world. Despite
being developed or undeveloped, all nation-states have three major
economic problems: unemployment, inflation, and poverty. Students
will recognize how a nation’s economy is measured and the core
characteristics of these universal problems.
A. Measuring the economy.
Chapter 12 – February 23rd
B. Inflation.
Chapter 13 – February 28th
C. Unemployment.
D. Poverty.
Nation-state Presentations- March 5th -9th
Test March 13th
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5. 6 Current Events Due March 18th
IV. Microeconomics– Prices are determined when taking into consideration of
two variables: supply and demand. Changes in these two variables also
impact prices. Different types of businesses in different types of markets
make changes accordingly to their products and their prices. Students will
comprehend how prices are determined, distinguish between different types
of businesses and markets and how they impact the economy.
A. Demand and Supply.
Chapter 4 – March 15th
Chapter 5 – March 20nd
B. Creation of prices.
Chapter 6 – March 22th
C. Elasticity.
D. Market structure.
Chapter 7 – March 29th
Test – April 3rd
V. Labor– Selling of labor and participation in the labor market is part of all of
our lives. The education we have, the jobs we pick, and their salaries/wages
all can be explained by economics. Pay is decided either by supply and
demand or by collective bargaining by organized labor. Students will be able
to participate in and understand their rights in the labor market.
A. Business organizations.
Chapter 8 – April 10th
B. Labor market.
Chapter 9 – April 12th
C. Organized labor.
D. Labor Choices
E. American Labor Strikes
F. American Dreams - April 13th-15th Movie Review Paper due April
26th
Test – April 24th
VI. Finance (10 days) – Everyone invests in the economy, even if they do not
know it. Pensions, bank accounts, and insurance policies are all used to
invest in our economy on behalf of individuals. Students will understand the
benefits of our financial system and the restraints/supervisions that are placed
upon it.
A. Financial system.
Chapters 10 April 26th
Chapter 11 May 1st
Chapter 15 May 3rd
B. Investing, Saving
C. Borrowing, Purchases
D. Debt and Credit
Test – May 8th
6 Current Events due May 6th!
Freakonomics book review is due February 2nd
Project for 3rd quarter due March 4th, paper due March 11th.
American Dream Paper due April 23rd.
Project for 4th quarter due May 13th
Last Day for Seniors May 22nd
Final June 1st
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6. Freakonomics
Students will read the book Freakonomics by Steven Levitt and Stephen Dubner, which
is about variety of unusual economic topics. Students will take a set of quizzes on the
book, but must also write a 500 word book review. The review must include a summary
of the book, the point of the author and your opinion. In the paper, you should also
reference a published book review and write whether you agree or disagree with their
opinion of the book. You must also use evidence to support or disprove the author’s
opinion on at least one topic that they have included in the book. The review will follow
MLA format, Times New Roman Size Twelve Font, double spaced with a title page,
outline and works cited page. Papers will be due by February 20 th at 11:59 pm. Grading
will follow the format included on this page. Cite Freakonomics, the published book
review you included, and the source you used to gather facts about one of the topics they
discussed.
Needs Developing (0) Developing (2) Proficient (4) Highly Proficient (6)
Criteria
Focus-Content Written response is Ideas are scatteredDeveloped ideas and Sophisticated,
(Addressing the confusing and needs and need further essentially accurate substantial, well-
question) more information. development. information. Answer developed ideas.
Does not answer Answer some most questions with Answer questions and
questions proposed questions with facts. back up with facts.
for paper. facts.
Organization Details and examples Details and Information in Information is
(Overall order, flow, show confused examples show logical order with presented in effective
and transitions) organization; hard to incorrect paragraphs and order; paragraphs and
follow organization transitions transitions help paper
flow smoothly
Introduction/ Introductory/ Introductory/ Introductory/ Introductory/
Conclusion Conclusion Conclusion Conclusion Conclusion paragraph
paragraph is not paragraph is paragraph contains a has a sharp, distinct
apparent vague focus focus
Style/Mechanics Lack of Limited sentence/ Some variety in Word choice is
sentence/word choice word choice and sentence structure excellent. Few or no
variety and repeated mechanical errors and word choice. mechanical errors. (5
weaknesses in somewhat Some mechanical or below)
mechanics interfere interfere with errors. (5-10 )
with writing. (15+) writing. (10-15 )
Sources Insufficient resources Research Research Research
are used accomplished by accomplished by two accomplished by three
one well chosen well chosen and or more well chosen
and stated source. stated sources. and stated sources.
5 points will be taken off for each instruction not followed or not working on assignment will in
lab/room.
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7. Name period
Nation-State Research
As we have discussed in class, nations range from having free markets, to command
economies. No nation is perfectly free or command; instead, they fall on a scale ranging
from one to the other. Below is an example. The USA falls close to free and the former
USSR fell close to command.
Economic continuum:
Free Market--- -------USA----------------------------------------China--------USSR-Command
Choose any nation except the USA and use at least three internet sites to research their
economies. Make sure the CIA fact book is one of these sites. Do not use any wiki sites.
The most important thing you need to do is place your nation on the scale and report on
the condition of the economy. Would it be closer to command or free market? How
much is the government involved? How successful is the nation? This could be summed
up in a thesis statement such as: With low taxes and a moderate amount of government
regulations, the American economy is closer to the free market side of the spectrum while
retaining a high amount of success as proved by its GDP.
What is the background of this nation-state? What historical events have affected their
economy? Is this due to the amount of government involvement? What is their
government like? What type of natural resources do they have? What is the size of their
population? How do they use their land? What is their economy like? (Discuss poverty,
unemployment, stability) How is the government involved in the economy? What
indirect economic signs indicate how well off their nation is? Find five. (Life –
expectancy)
You will complete a PowerPoint presentation that will last 3-5 minutes. You will include
a title slide, at least four bullets of text, a practical illustration on each slide, along with a
works cited slide. You must have a total of seven slides. This is the bare minimum! You
will also submit a 1000 word report summarizing your findings. You will be graded on
the following:
 Creativity (but don’t be annoying)
 Pertinent Information
 Following Directions
 Accuracy
 Speech and Eye Contact
 Clarity of Presentation
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8. Name period date _________
Academic Economics
Persuasive Project
Economic policies are usually the most politically pivotal issues. Public interpretation of these policies
influences elections, government regulation, treaties, and much more. These issues are divisive and the
public either splits on the topics and/or has little comprehension of them:
1. Minimum Wage – RAISE it. 16. The USA should send MORE foreign
2. Minimum Wage – STAY at $7.25. aid.
3. Welfare is a SUCCESS. 17. The USA should send LESS foreign
4. Welfare is a FAILURE. aid.
5. Flat taxes are good (example: everyone 18. Wealthy nations SHOULD forgive
pays 3%) poorer nations’ debt.
6. Progressive taxes are good (the richer 19. Wealthy nations SHOULD NOT
you are, the bigger percentage you pay) forgive poorer nations’ debt.
7. Regressive taxes are good (example: 20. Environmental regulations are
national sales tax). BENEFICIAL for America and the
8. Permanent tax cuts would be GOOD economy.
for the economy. 21. Environmental regulations are
9. Permanent tax cuts would be BAD for HARMFUL for America and the
the economy. economy.
10. The government SHOULD USE 22. PRO-Organized Labor.
DEFICIT SPENDING. 23. ANTI- Organized Labor.
11. The government SHOULD NOT USE 24. Continue to drill for OIL, especially in
DEFICIT SPENDING. North America.
12. Free trade is BENEFICIAL. 25. Switch resources to ALTERNATIVE
13. Free trade is NOT BENEFICIAL. FUEL SOURCES.
14. We SHOULD have a national health 26. Continue to use COALS as an energy
care system. source.
15. We should NOT have a national health 27. Increase usage of NUCLEAR energy.
care system. 28. Wal-Mart is GOOD for the economy.
29. Wal-Mart is BAD for the economy.
You will gather evidence to prepare for your position that you will present to the class. Each person must
have a 1000 word report that has the information you will use when presenting your case (Times New
Roman Size Twelve Font and Double Spaced, MLA). There will also be a title page, outline and a works-
cited page and sources will be cited in the paper. Grading will take into account if you are able to persuade
the audience based on a convincing presentation. Grading will take into account if you are able to persuade
the audience based on a convincing presentation (When presenting you should also counteract any
opposing positions that could be taken to yours) and come up with three questions to ask the opposition.
Students should use at least four sources (one from journals or books) to get a perfect score on that
section of the rubric. NO ENCYCLOPEDIAS! Presentations and paper will be turned in on the same
day. Presenters will be limited between three and five minutes per presentation. Reports will be worth
100 points and the power point presentation itself will be worth 100 points. Presentations will take
place at random and students will not read from their paper or slideshow. Those absent will be pressed to
the end of the list and will probably have to make up the presentation on their own. All should be prepared
to present, on the first day! Papers and presentations will be turned in prior to the first day. Surveys will
be taken at the end of the debates. Students will rate if their opinion has changed and which of the groups
had the most convincing presentation. Students that are selected by the most students as having the more
convincing presentation will receive five points. Students absent the day of their presentation will not be
eligible for the points and will have present on a different day. A visual (simple power point) will
accompany the presentation. They must also be completed and turned in with the paper.
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9. Paper Rubric:
5 4 3 2 1
Paper format (x3) Title page, outline, Title page, outline, Title page, outline, Missing 1 Missing 2
works cited with no works cited with 1-5 works cited with +5 component. components or 1
errors. errors. errors. missing with multiple
errors.
Research (X3) 4 sources for research 3 sources for research 2 sources for research 1 source for research 0 sources for research
cited properly. cited properly. cited properly. cited properly. cited properly. (x0)
Written Report (X3) Organized into clear Mostly organized into Organized into Paragraph form. No clear paragraphs.
paragraphs. clear paragraphs. paragraphs.
Thesis (X3) Outlines clear and Writes clear thesis Writes thesis that Writes thesis that Unclear thesis that
original thesis that that matches paper matches paper topic matches paper topic resembles paper topic
matches paper topic topic and is supported and is somewhat and is slightly and is barely
and is strongly by points of supported by points supported by points supported by points
supported by points argument. of argument. of argument. of argument.
of argument.
Spelling/Grammar No errors. 1-5 errors. 6-10 errors. 10-15 errors. 16-20 errors.
(X4)
Position Taken (X4) Articulates clearly. Articulates clearly. Articulates clearly. Articulates clearly. Unable or unwilling
State five points of State four points of State three points of State two points of to articulate clearly,
arguments for and argument for and two argument for and one argument for and State points of
three against using against using specific, against using specific, refutes opposite argument using
specific, factual factual information. factual information. position. specific, factual
information. information.
Rubric for Presentation half of the debate project: Students will present for 3-5 minutes. You will be signaled when three and
four minutes approach and cut off when five minutes approach. Other five points will be voted on by students.
5 4 3 2 1
Eye Contact (X2) Looks at audience Looks at audience half Looks at the audience Looks at audience Rarely or never looks
almost all of the time, of the time, looking at less than half of the almost all of the time. at audience. Reads
glancing at notes notes. time. Reading Reading from notes from notes.
occasionally. directly from notes throughout most of
throughout the presentation.
presentation.
Questions (x3) In depth questions that In depth questions that Questions that the Questions that is Only two questions
the opposition has the opposition has opposition answers. merely factual, asked.
cannot answer. difficulty answering. answered with total
ease.
Answering questions Answers questions Has difficulty Has difficulty Has difficulty Cannot answer any of
(x3) with ease. answering one of the answering two of the answering all of the the questions at all.
questions. questions. questions.
Voice (X2) Voice can be heard at Voice can be heard at Voice can be heard at Voice can be heard at Voice cannot be heard
the back of the room the back of the room the back of the room the back of the room at the back of the
all of the time. most of the time. half of the time. less than half of the room.
time.
Visual (x3) Creative, illustrated Illustrated with major Major points or Distraction from Major distraction
with major points that points that emphasize illustrations that speech. Attention of from speech.
emphasize presentation, without emphasize audience or speaker Attention of audience
presentation, without taking away from presentation, without taken away. or speaker taken
taking away from speaking ability. taking away from away.
speaking ability. speaking ability.
Time (X2) 3-5 minutes Fifteen seconds less or Thirty seconds less or Forty-five seconds One minute less or
more. more. less or more. more.
Debate (X4) Articulates clearly. Articulates clearly. Articulates clearly. Articulates clearly. Unable or unwilling to
State five points of State four points of State three points of State two points of articulate clearly,
arguments for and argument for and two argument for and one argument for and State points of
three against using against using specific, against using specific, refutes opposite argument using
specific, factual factual information. factual information. position. specific, factual
information. information.
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10. Name date April 24th period
American Dream
Describe the positions of the following organizations on the ensuing negotiations:
Local P-9:
International UFCW:
Hormel:
Families that break away from the strike:
Public:
Write a movie review. Summarize the documentary with the information from above in
one paragraph. Secondly, write a paragraph about the point of the movie. What was the
filmmaker attempting to show here? Write a third paragraph reflecting your own
personal opinion of the film. Who do you think is to blame for this breakdown? This is a
matter of opinion. Back up your opinion with an explanation. Who do you think lost or
won the most here? Lastly, write a paragraph on how you think this film portrayed the
plight of unions in the United States. This will typed double-spaced, Times New Roman
size twelve font. Make sure to include name, period and date. (25 points + 5 points for
these notes). The rubric following the book review is for grading your writing. This
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11. short 500 word essay will be worth thirty points. Scoring a six on each category will earn
students thirty points. Main idea or thesis should be the focus of supportive research.
MLA format is necessary. Short papers will follow this rubric.
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