Social Studies
Economics
Explore the fundamentals of economics, including supply and demand, market structures, and the role of government in the economy. This course helps students understand how economic decisions impact individuals, businesses, and society.
About the course
Course Overview
Economics introduces students to the study of how people, businesses, and governments make decisions about resources, goods, and services. Students will explore core concepts such as scarcity, opportunity cost, and economic systems while examining how supply and demand shape markets. The course also covers important topics like monetary and fiscal policy, global trade, and the influence of government regulation on the economy.
Through engaging lessons and real-world examples, students will gain a deeper understanding of both microeconomics and macroeconomics. They will learn how individuals and businesses interact within markets, how economic growth is measured, and how policies are used to manage unemployment, inflation, and international trade. By the end of the course, students will be equipped with critical thinking skills and a solid foundation in economics that will serve them in college, careers, and everyday decision-making.
By the end of the course
Learning Objectives
- Explain core economic concepts such as scarcity, opportunity cost, supply, and demand.
- Analyze how different economic systems allocate resources and determine economic outcomes.
- Evaluate the impact of government policies on markets, employment, and inflation.
- Interpret economic indicators and assess the health of national and global economies.
- Compare international trade systems and identify challenges to global economic development.
Course contents
What You'll Study
The Economic Way of Thinking
Learn how scarcity, choice, and opportunity cost shape decisions, and apply economic models to real-world behavior.
Economic Systems
Compare traditional, command, market, and mixed economies and evaluate government roles in shaping outcomes.
The American Free Enterprise System
Examine the principles of capitalism, government regulation, and how public goods and externalities affect markets.
Demand
Explore the law of demand, elasticity, and factors that shift consumer buying behavior.
Supply
Analyze the law of supply, elasticity, and how costs and technology impact production.
Demand, Supply, and Prices
Understand how supply and demand interact to set prices, signal market shifts, and respond to government interventions.
Market Structures
Compare competition, monopolies, oligopolies, and monopolistic competition, and examine the role of regulation.
Types of Business Organizations
Evaluate ownership models from sole proprietorships to corporations and explore business responsibilities to society.
The Role of Labor in the Economy
Study wage determination, labor market trends, and the influence of skills, education, and unions.
Money and Banking
Trace the history, functions, and institutions of money and banking, including the role of central banks.
Financial Markets
Explore stocks, bonds, and investments, and understand how financial markets fuel economic growth.
Economic Indicators and Measurements
Learn to interpret GDP, inflation, and unemployment as tools for analyzing economic health.
Facing Economic Challenges
Investigate issues like poverty, unemployment, and inflation, and assess policy responses.
Government Revenue and Spending
Examine taxation, budgeting, and fiscal priorities, and their impact on individuals and society.
Using Fiscal Policy
Analyze how governments use taxes and spending to stabilize the economy and manage debt.
The Federal Reserve and Monetary Policy
Study the Federal Reserve’s structure, tools, and influence on inflation, employment, and growth.
International Trade
Evaluate the benefits and challenges of global trade, trade barriers, and international agreements.
Issues of Economic Development
Explore the difference between growth and development, barriers to progress, and strategies for sustainable development.
Earn your 1.0 credit in Economics
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Excel High School Texas is fully accredited, self-paced, and built for Texas students who want a college-ready diploma without compromise.