Grade 12 – Economics (Standard)
Course Overview
Economics Standard for Grade 12 is a one-semester course that introduces students to fundamental economic principles and decision-making at both personal and societal levels. Topics include microeconomics, macroeconomics, market dynamics, government policy, global trade, and personal finance. Students develop the ability to evaluate choices, understand economic incentives, and apply economic reasoning to real-world situations.
Students will examine how individuals, businesses, and governments allocate resources, explore financial literacy, and understand the roles of supply, demand, competition, and regulation. The course emphasizes critical thinking, data interpretation, and application of economic principles to everyday life and public policy.
Learning Outcomes by Unit
- Unit 1: Scarcity, opportunity cost, economic systems, and factors of production.
- Unit 2: Supply, demand, elasticity, and price mechanisms in microeconomics.
- Unit 3: GDP, inflation, unemployment, and macroeconomic indicators.
- Unit 4: Government taxation, regulation, fiscal and monetary policy.
- Unit 5: International trade, comparative advantage, and globalization.
- Unit 6: Personal financial literacy: budgeting, saving, investing, credit, and planning.
Instructional Methods
Instruction includes simulations, case studies, data interpretation, group projects, multimedia presentations, and problem-based learning. Students interpret economic graphs, participate in market games, and apply economic concepts to everyday scenarios. Technology tools and interactive platforms enhance student engagement.
Assessment and Grading
| Category | Weight |
|---|---|
| Unit Exams & Projects | 35% |
| Quizzes & Data Analysis | 25% |
| Financial Literacy Activities | 20% |
| Homework & Practice | 15% |
| Participation & Class Discussion | 5% |
Anchor Themes Justification
- Scarcity & Choice: Students analyze trade-offs, opportunity cost, and resource allocation.
- Economic Systems: Comparison of capitalism, socialism, and mixed economies deepens global understanding.
- Policy & Government Role: Emphasis on the impact of fiscal and monetary policies on economic stability.
- Financial Literacy: Students gain practical skills for budgeting, saving, and managing credit and debt.
Florida Standards Alignment
| Topic | Florida Benchmark | Application |
|---|---|---|
| Basic Economic Concepts | SS.912.E.1.3 | Explain opportunity cost and production possibilities |
| Microeconomics | SS.912.E.2.2 | Analyze supply and demand, price, and elasticity |
| Macroeconomics | SS.912.E.3.5 | Examine monetary and fiscal policy roles |
| International Trade | SS.912.E.5.1 | Evaluate trade barriers and global interdependence |
| Financial Literacy | SS.912.E.6.2 | Interpret credit reports, budgeting, and saving strategies |
Academic Vocabulary Matrix
| Category | Key Terms | Contextual Application |
|---|---|---|
| Microeconomics | Supply, Demand, Elasticity | Used in market simulations and pricing analysis |
| Macroeconomics | GDP, Inflation, Unemployment | Explored through national economic indicators |
| Policy | Taxation, Monetary Policy, Regulation | Applied in evaluating government role in economy |
| Personal Finance | Budgeting, Credit, Investment | Practiced in personal financial planning exercises |