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Capstone: the Nation's High School Economics Course. Teacher Resource Manual

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Capstone: the Nation's High School Economics Course. Teacher Resource Manual DOCUMENT RESUME ED 416 108 SO 026 798 AUTHOR Reinke, Robert W.; Schug, Mark C.; Wentworth, Donald R. TITLE Capstone: The Nation's High School Economics Course. Teacher Resource Manual. INSTITUTION National Council on Economic Education, New York, NY. ISBN ISBN-1-56183-404-A PUB DATE 1993-00-00 NOTE 243p.; For related "Student Activities" volume, see SO 026 799. A third volume, entitled "Teacher Specimen Set," combines the exact texts of SO 026 798 and SO 026 799. AVAILABLE FROM National Council on Economic Education, 1140 Avenue of the Americas, New York, NY 10036. PUB TYPE Guides Non-Classroom (055) Reference Materials Bibliographies (131) EDRS PRICE MF01/PC10 Plus Postage. DESCRIPTORS Consumer Economics; *Economic Change; Economic Climate; *Economic Factors; *Economics; *Economics Education; Futures (Of Society); Global Education; Grade 11; Grade 12; High Schools; Instructional Materials; Macroeconomics; Microeconomics; Social Studies ABSTRACT This resource book is intended for a one-semester model course for high school economics for eleventh- and twelfth-grade students. The seven units in the book are linked to content ordinarily found in microeconomic and macroeconomic courses. Each unit contains 5 to 11 lessons, an author's note to the teacher, an author's letter to the students, classroom instructional materials, and sample test items. Each self-contained lesson contains a summary of economic content, an economic reasoning summary, instructional objectives, procedures, and student materials. The seven units in the resource book are: (1) "Why Economics Is Important"; (2) "Supply and Demand"; (3) "Consumers and Producers"; (4) "The Role of Government in Economics"; (5) "Macroeconomics"; (6) "Macroeconomics: Forecasting Our Economic Future"; and (7)"International Economics Issues." The book concludes with a section on extending teaching activities. (EH) ******************************************************************************** * Reproductions supplied by EDRS are the best that can be made * * from the original document. * ******************************************************************************** PERMISSION TO REPRODUCE AND DISSEMINATE THIS MATERIAL IN OTHER THAN PAPER COPY HAS BEEN GRANTED BY TO THE EDUCATIONAL RESOURCES INFORMATION CENTER (ERIC) U.S. DEPARTMENT OF EDUCATION Office of Educational Research and Improvement EDUCATIONAL RESOURCES INFORMATION CENTER (ERIC) This document has been reproduced as received from the person or organization originating it. Minor changes have been made to improve reproduction quality. Points of view or opinions stated in this document do not necessarily represent official OERI position or policy. Economics America National Council on Economic Education A partnership of education, business, and labor WM COPY AVAILABLE 0 TheCapstone- Nation's High School Economics Course Authors: Robert W. Reinke, Mark C. Schug, Donald R. Wentworth A program of the National Council on Economic Education Teacher Resource Manual 11 Capstone: The Nation's High School Economics Course Funding Major funding for the project was provided by The Calvin K. Kazanjian EconomicsFoundation, Inc. Additional support was provided by The Procter and Gamble Fund and by the Shell OilCompany Foundation. Selected units within the Capstone course were developed with funds from the Amoco Foundation, Inc. andthe Securities Industry Foundation for Economic Education. Authors Robert W. Reinke, University of South Dakota Mark C. Schug, University of Wisconsin-Milwaukee Donald R. Wentworth, Pacific Lutheran University, Tacoma, Washington Contributors Ernest M. Ankrim, Pacific Lutheran University, Tacoma, Washington Christine Blumberg, Burnt Hills-Ballston High School, Burnt Hills, New York Ralph J. Brown, University of South Dakota Lucien Ellington, University of Tennessee at Chattanooga Robert J. Highsmith, National Council on Economic Education, New York Don R. Leet, California State University, Fresno John L. Lewis, Illinois Council on Economic Education John Morton, Governors State University and Homewood-Flossmoor High School, Illinois David M. Nelson, Western Washington University, Bellingham, Washington Howard Y. Thomas, South Carolina Council on Economic Education George G. Watson Jr., Rifts University, Medford, Massachusetts Senior Editors Mark C. Schug, University of Wisconsin-Milwaukee Richard D. Western, University of Wisconsin-Milwaukee Field Test Teachers South Carolina Libby Chambers Fort Mill High School Fort Mill, SC Bob Nies Rock Hill High School Rock Hill, SC Greg Norton Chester High School Chester, SC Tom Ray York Comprehensive High School York, SC Whitey Smith Gaffney High School Gaffney, SC Pam Winders Clover High School Clover, SC Second Printing, 1993. Copyright1989 by the National Council on Economic Education, 1140 Avenue of the Americas, New York, NY 10036. All rights reserved. The worksheets and the visuals may be duplicated for classroom use, the number not to exceed the number of students in each class. Notice of copyright must appear on all copies. With the exception of the worksheets and visuals, no part of this book may be reproduced in any form or by any means without permission in writing from the publisher. Printed in the United States of America. ISBN 1-56183-404-A 5 4 3 2 111 South Dakota J. Richard Mead Stevens High School Rapid City, SD Tom Zen Mobridge High School Mobridge, SD Jim Aisenbrey Freeman High School Freeman, SD Donna Willadsen Patrick Henry Junior High School Sioux Falls, SD Thomas Lemonds Washington High School Sioux Falls, SD Floyd D. Farrand Lincoln High School Sioux Falls, SD Diane Kraas Augustana College Sioux Fails, SD Don Grebin Axtel Park Junior High School Sioux Falls, SD Ron Dannebring Whittier Junior High School Sioux Falls, SD Mark Kuehn Edison Junior High School Sioux Falls, SD )Wisconsin Sue Bo lly Schlenker Nicolet High School Glendale, WI Kathleen Ryan Rufus King High School for Johnston the College Bound Milwaukee, WI Stephen Haessler Marquette High School Milwaukee, WI Richard Miller Homestead High School Mequon, WI iv CAPSTONE: THE NATION'S HIGH SCHOOL ECONOMICS COURSE CONTENTS Unit 1 - Why Economics Is Important Letter to the Capstone 'leacher 1. Solving Economic Mysteries: A Student Guide 2. You Are the Economy 3. To Choose or Not to Choose: That Is Not the Question 4. Individual Decision Making 5. Social Decision Making 6. Survival Activity 7. D.C. or Bust!Factors of Production 8. Rules Influence Economic Systems: Market, Command, and Traditional Economies 9. The Circular Flow of Economic Activity TEST Sample lest Items Unit 2 - Supply and Demand Letter to the Capstone 'leacher 1. Is What I Like, What I Buy? Maybe 2. Markets Involve People, Too: A Market in Wheat 3. A Picture Is Worth a Thousand Words: Demand 4. A Picture Is Worth a Thousand Words: Supply 5. How Do Price Changes Influence My Behavior? 6. Marginal Analysis 7. The Market Never Stands Still 8. When There Are Floors and Ceilings 9. Become a "Profit-Making Prophet" by Using the Market 10. Rationing Kidney Transplants: An Ethical Problem TEST Sample lest Items Unit 3 - Consumers and Producers Letter to the Capstone 'leacher 1. Introduction to Consumers and Producers 2. Consumers Make Marginal Decisions 3. Living at the Margin 4. Consumers and Producers Face Sunk Costs 5. Why Do Some People Make More Than Others? 6. Productivity 7. When There Isn't Pure Competition 8. Labor and Management Negotiate TEST Sample lest Items V Unit 4 - The Role of Government in Economics eLetter to the Capstone leacher 1. Introduction to the Public Sector 2. The Constitution and You 3. The Influence of Economic Problems on the Constitution 4. Why Do We Want Government? Public Versus Private Goods 5. Why Do They Run? 6. What Is a Fair Tax? 7. Can Taxes Be Incentives? 8. The Economics of Special Interest Groups 9. The Role of Government: Social Regulation of Business 10. The Economics of Voting 11. Thinking Economically About the Environment TEST Sample lest Items Unit 5 - Macroeconomics Letter to the Capstone 'leacher 1. Money Isn't Everything 2. What Do We Want from Our Economy? 3. An Economy Never Sleeps 4. If It Doesn't Work Fix It 5. Macromysteries TEST Sample lest Items Unit 6 - Macroeconomics: Forecasting Our EconomicFuture Letter to the Capstone 'leacher I 1. How Does a Forecast Differ from a Guess? 2. Making a Macro Model: Consumers 3. Making a Macro Model: Investment 4. Making a Macro Model: Government 5. Making a Macro Model: Imports and Exports 6. Be a Capstone Fearless Forecaster TEST Sample lest Items Unit 7 - International Economics Issues Letter to the Capstone 'leacher 1. Solving World Trade Mysteries: The Final Chapter, TheFuture 2. Why Do People Trade? 3. Why People Trade: Comparative Advantage 4. Trade Barriers 5. Balance of Payments 6. Ripples 7. Foreign Currencies and Foreign Exchange 8. Exchange Rates 9. Disagreements over World Trade TEST Sample lest Items Extending Teaching Activities Economics USA Return to Mocha oEconomics and the Stock Market Game 7 vi CAPSTONE: THE NATION'S HIGH SCHOOLECONOMICS COURSE The National Council on Economic Education is the Congress want to balance the budget? pleased to present Capstone: The Nation's High School Economics Course, a model course for high school Why do citizens of Angola use six packs of economics. Capstone is a one-semester high school beer as money in the Angolan economy? economics course intended for use with eleventh and twelfth grade students. The course will complement Then we propose ways to help students unravel the students'
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