Grade 12 – Microeconomics & Macroeconomics (Honors)
Course Overview
This full-year Honors course offers an in-depth introduction to both Microeconomics (Semester 1) and Macroeconomics (Semester 2), aligned with pre-AP and introductory college-level standards. Students develop economic reasoning skills and apply analytical tools to real-world markets and global economic systems. Emphasis is placed on cause-effect reasoning, graphing models, policy evaluation, and personal and national decision-making.
The course prepares students for advanced placement economics coursework and university-level economic literacy. Learning includes simulations, economic games, data interpretation, debates, and analytical writing with strong cross-disciplinary links to government, history, and mathematics.
Semester 1: Microeconomics
- Unit 1: Basic Economic Concepts – scarcity, opportunity cost, comparative advantage.
- Unit 2: Supply, Demand, and Market Equilibrium – elasticity, price ceilings/floors, taxes.
- Unit 3: Production, Cost, and Firm Behavior – short-run/long-run costs, profit maximization.
- Unit 4: Market Structures – perfect competition, monopolies, oligopolies, monopolistic competition.
- Unit 5: Market Failures and the Role of Government – externalities, public goods, regulation, antitrust.
Semester 2: Macroeconomics
- Unit 6: National Income and Price Determination – GDP, inflation, unemployment.
- Unit 7: Aggregate Supply and Demand – economic fluctuations, stabilization policies.
- Unit 8: Fiscal Policy and the Public Sector – taxes, government spending, budget deficit/surplus.
- Unit 9: Monetary Policy and the Federal Reserve – money creation, interest rates, central banking.
- Unit 10: International Trade and Finance – exchange rates, trade balance, global economics.
Instructional Methods
Students engage with lectures, interactive simulations, graph-based modeling, economic games, peer presentations, data analysis, and AP-style case studies. Instruction includes real-world applications such as personal finance, global trade news, and policy debates. Emphasis is placed on constructing and interpreting economic graphs, applying logic, and evaluating economic outcomes with evidence.
Assessment and Grading
| Category | Weight |
|---|---|
| Unit Exams & Projects | 40% |
| Quizzes & Data Analysis | 25% |
| Graphing Practice & Problem Sets | 20% |
| Class Participation & Discussion | 10% |
| Reflections & Presentations | 5% |
Anchor Themes Justification
- Economic Systems: Students compare market, command, and mixed systems globally.
- Government & Policy: Evaluation of the role of regulation, taxation, and fiscal/monetary tools.
- Global Interdependence: Macroeconomic models help explain international trade and currency policy.
- Decision-Making: Emphasis on marginal analysis, incentives, and economic behavior under constraints.
Florida Standards Alignment
| Topic | Florida Benchmark | Application |
|---|---|---|
| Opportunity Cost | SS.912.E.1.3 | Analyze cost-benefit decisions and trade-offs |
| Supply & Demand | SS.912.E.2.1 | Apply price mechanisms and elasticity in graphs |
| Monopoly & Competition | SS.912.E.2.5 | Compare outcomes of various market structures |
| Monetary & Fiscal Policy | SS.912.E.3.6 | Evaluate Fed and Congressional roles in economic policy |
| International Trade | SS.912.E.5.3 | Interpret exchange rates and global impacts on U.S. economy |
Academic Vocabulary Matrix
| Category | Key Terms | Contextual Application |
|---|---|---|
| Microeconomics | Elasticity, Equilibrium, Externality | Used in price models, efficiency, and market failures |
| Macroeconomics | GDP, Inflation, Aggregate Demand | Applied in national income modeling and forecasts |
| Policy Tools | Monetary Policy, Fiscal Stimulus, Deficit | Examined in policy simulations and news articles |
| Trade & Currency | Exchange Rate, Tariff, Trade Balance | Discussed in global economics and trade agreements |