Unit 1: Basic Economic Concepts
Duration of Days: 15
Scarcity, choice, and opportunity cost
Difference between microeconomics and macroeconomics
Production possibilities curves (PPCs)
Comparative advantage and specialization
Supply, demand, and market equilibrium
Core macroeconomic issues: business cycles, inflation, unemployment, growth
Analyze economic scenarios using opportunity cost
Construct and interpret PPC graphs
Apply comparative advantage to trade examples
Use supply and demand graphs to predict market outcomes
Identify macroeconomic problems in real-world contexts
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Unit exam with multiple-choice and constructed response
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Graphing analysis task (PPC + supply/demand)
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Written explanation applying comparative advantage
| Lesson # | Lesson Title | Duration of Days |
|---|---|---|
| 1 | Introduction to Economics | 2 |
| 2 | Scarcity, Choice, and Opportunity Cost | 3 |
| 3 | Production Possibilities Curve | 3 |
| 4 | Comparative Advantage and Trade | 3 |
| 5 | Supply, Demand, and Market Equilibrium | 4 |