GRADE / LEVEL	Econ 12
	MONDAY	TUESDAY	WEDNESDAY	THURSDAY	FRIDAY
CHAP. / SEC.
OBJECTIVE	Congrats Seniors!!	Thanks for your hard work and respect.	Thanks for being my first students.	I will remember you always.	All the Best.
HOMEWORK

If you need additional assistance, I am available every morning at 7am and during periods B, D, and E or during my F period study hall.

Room M205

COURSE DESCRIPTION: IB Economics consists of a two-year economics component leading to the International Baccalaureate Certificate or Diploma. The course culminates in an exam at the end of the two-years administered and graded externally by the IB organization. Content over the two-year program involves students in an in-depth study of a Prescribed Subject (Economics) through four topics (microeconomics, macroeconomics, international economics and development economics). The class will require learning, understanding and possessing the ability to apply terminology, graphic representations of dynamic models, and basic theories. Although primarily a lecture/discussion class, students must prepare for class by reading assignments when assigned, be prepared to be quizzed upon the assigned reading, and are strongly encouraged to ask relevant questions and seek clarification at any time. As well, students are especially cautioned to stay organized and disciplined when completing all assignments. Success in an IB course of studies is assured if the student is committed and organized.

In Economics 12, students will review the foundation to economics: Microeconomics and Macroeconomics through the study of terms, graphs and theories. Students will be introduced to International Economics and Development Economics. In addition, students will prepare for the IB certification process by learning to answer questions "the IB way" and preparing their "portfolio" demonstrating their understanding of economics as applied to current events / markets.

Texts:

Economics, McConnell & Brue. 17^th Edition. 2008 McGraw-Hill.

Economics Course Companion. Jocelyn Blink and Ian Dorton. 2007. Oxford University Press.

IB Prepared - Approach your exams the IB way – Economics HL. Jocelyn Blink and Ian Dorton. 2009. International Baccalaureate.

Supplemental Reading Assignments: From time to time throughout the year supplemental readings will be assigned. They will include assignments from the text, primary source materials, and assorted articles taken from current publications.

Grades: Grades for interim and final grading periods will be assigned in accordance with published MVRCS policies.

General grading breakdown follows the Tier Assessment System:

Tier 1: Tests……………………………………….50%

Tier 2: Quizzes / Homework and Notebook.…...30%

Tier 3: Daily Participation ……………………….20%

Major Papers/Projects may be counted as an amalgam of tests, i.e. one

paper may count as two test (Tier 1) grades

Minor Papers…………………………counted as an amalgam of quiz grades

(NOTE: Assignments of any kind are due on the date given. Any late assignments will be discounted 10% per day up to 50%.)

Class Policies and Expectations:

· Be on time for class –Be in your seat and prepared for class at the appropriate time.

· Do not leave your seat for any reason without permission. All conversation will cease when class begins. Disruption of the learning opportunity of others will not be tolerated.

· Be prepared with textbook, pen and pencil, and notebook for note-taking. Each student must have a three-ring binder for EACH quarter of material.

· All assignments must be completed on time, and will be collected prior to the start of class. All assignments must be typed or written in black ink.

· No form of cheating will be tolerated. Any instances of academic dishonesty will be addressed in accordance with MVRCS policy. As well, plagiarism will be addressed in accordance with MVRCS policy. Keep in mind that there is no such thing as unintentional plagiarism. If students or parents have any questions regarding clarification of what constitutes plagiarism, please contact me.

· A separate instruction sheet will be given to each student for any papers or projects assigned.

· Students will be expected to devote all of their energies to a successful learning experience. Ample opportunity will be given to all students to accumulate grades sufficient to enable this success. As such, no extra credit work will be assigned or considered.

· All students are expected to abide by the rules set out in MVRCS policy.

· ***Students that need to make up a missed assignment due to an excused absence must make an appointment to see Mr. Wrobel to get the assignment(s) missed. (Class lecture/discussion notes missed during an excused absence may be secured from your fellow student(s) in your class.) It is the student’s responsibility to get missed work from his/her instructor.

· Students who unexpectedly miss class and are excused by the administration on the day a written assignment is due will present the paper the next day school is in session.

· A DAILY NOTEBOOK should be maintained by each student for the entire year. The notebook should contain such items as lecture notes, notes in preparation for class discussions, group work, terms and their definitions, and map work and terms. These notebooks will be checked periodically and graded. Students are required to have a three-ring binder in which all material from EACH quarter is maintained.

IB Economics

NOTE: In SY 2008-09, IB students will have studied topics I, II and III below but we will conduct a thorough review during the first few weeks since a deep confident understanding of this material is critical to the IB exam in May and will be built from for topics IV and V.

I. Introduction to Economics - review

A. What is Economics?

B. Rationing Systems

II. Microeconomics - review

A. Basic Economic Concepts - Indifference Curves and Consumer Rationale

B. Demand and Supply

C. Elasticities

D. Indirect taxes, subsidies, and elasticity

E. Theory of the Firm – costs, revenues, and profit

F. Theory of the Firm 2 – perfect competition

G. Monopoly &monopolistic competition

H. Oligopoly and price discrimination

I. Market Failure

III. Macroeconomics - review

A. Measuring National Income

B. Measuring Economic Development

C. Aggregate Demand

D. Aggregate Supply

E. Macroeconomic equilibrium

F. Inflation and Deflation

G. Unemployment

H. The Inflation v. Unemployment Debate

I. Distribution of Income

Understand IB expectations required to demonstrate competency for the IB exam - IB Prepared - Approach your exams the IB way – Economics HL. Jocelyn Blink and Ian Dorton.

IV. International Economics

A. Why do Countries Trade? – Blink & Dorton (B&D) pp.245-251. Brue chap. 5

B. Free Trade and Protectionism – B&D pp. 252-266. Brue chap. 35.

C. Economic Integration – B&D pp.267-273.

D. Exchange Rates and Balance of Payments – B&D pp. 274-302. Brue chap. 36.

E. Terms of Trade – B&D 303-313.

V. Development Economics

A. Characteristics of Developing Countries – B&D pp. 314-320. Brue chap. 16.

B. Sources and Consequences of Economics Growth – B&D pp. 321-328.

C. Barriers to Economic Growth and Development – B&D pp. 329 – 343.

D. Growth and Development Strategies – B&D pp. 344 – 359.

E. Aid and Indebtedness – B&D pp. 360 – 377. Brue chap. 11.

F. Assessment Advice and Service Opportunities – B&D 378 – 390.