Economics is the social studies course that examines the allocation of scarce resources and their alternative uses for satisfying human wants. This course analyzes the economic reasoning used as consumers, producers, savers, investors, workers, voters, and government agencies make decisions. Key elements of the course include a study of scarcity and economic reasoning, supply and demand, market structures, the role of government, national income determination, money and the role of financial institutions, economic stabilization, and trade. Students will explain that because resources are limited, people must make choices in all aspects of daily life and demonstrate understanding of the role that supply, demand, prices, and profits play in a market economy. Students will examine the functions of government in a market economy and study market structures, including the organization and role of businesses. Students will understand the role of economic performance, money, stabilization policies, and trade of the United States. While the economic way of thinking involves scientific tools and techniques, economics remains a social science, which endeavors to systematically study the behavior of people, institutions, and societies.
- One semester course, one credit
- Required for Core 40, Core 40 with Academic Honors, and Core 40 with Technical Honors diplomas
- Qualifies as a Quantitative Reasoning course for the General, Core 40, AHD, and THD diplomas