High School Economics: Part 1 (Flex)

This 10-week course will cover the first half of the National Standards of Economics for High Schoolers. Students will learn through engaging and real-world problems while learning about the global economy. This course is taught by Mr. Kenneth who has a degree in economics and is a certified educator by the National Financial Literacy Council. 

The following topics will be covered: 
Week 1 Standard 1: Scarcity 
Productive resources are limited. Therefore, people cannot have all the goods and services they want;
as a result, they must choose some things and give up others.

Week 2 Standard 2: Decision Making
Effective decision-making requires comparing the additional costs of alternatives with the additional
benefits. Many choices involve doing a little more or a little less of something: few choices are “all or
nothing” decisions.

Week 3 Standard 3: Allocation 
Different methods can be used to allocate goods and services. People acting individually or collectively
must choose which methods to use to allocate different kinds of goods and services.

Week 4 Standard 4: Incentives
People usually respond predictably to positive and negative incentives.

Week 5 Standard 5: Trade 
Voluntary exchange occurs only when all participating parties expect to gain. This is true for trade among
individuals or organizations within a nation, and among individuals or organizations in different nations.

Week 6 Standard 6: Specialization 
When individuals, regions, and nations specialize in what they can produce at the lowest cost and then
trade with others, both production and consumption increase.

Week 7 Standard 7: Markets and Prices
A market exists when buyers and sellers interact. This interaction determines market prices and thereby
allocates scarce goods and services.

Week 8 Standard 8: Role of Prices
Prices send signals and provide incentives to buyers and sellers. When supply or demand changes, market
prices adjust, affecting incentives.

Week 9 Standard 9: Competition and Market Structure
Competition among sellers usually lowers costs and prices, and encourages producers to produce what
consumers are willing and able to buy. Competition among buyers increases prices and allocates goods
and services to those people who are willing and able to pay the most for them.

Week 10 Standard 10: Institutions 
Institutions evolve and are created to help individuals and groups accomplish their goals. Banks, labor
unions, markets, corporations, legal systems, and not-for-profit organizations are examples of important

Students will be given homework each week to reinforce the weekly lesson. A final project will be assigned towards the end of the course. 

 Videos will be uploaded weekly along with practice assignments, homework, and additional resources. Students will use the Outschool classroom to access all materials and homework.

These economics lessons will integrate real-world and engaging topics. Students will be provided with several different options for homework every week which include visual, real-world and concrete assignments. 

Students will have the opportunity to engage with one another through platforms such as Flipgrid and discussions on the Outschool classroom. Students will participate in engaging and interactive platforms such as CK12, Kahoot, and EdPUzzle in order for me to formatively assess.