Economics (Free Enterprise)

Course Description

Economics is a single semester course that explores both micro- and macroeconomic theories, systems, and trends to help student become better informed consumers, producers, and citizens. In this course, students will study how individuals, businesses, and governments make decisions about the use of scarce resources in a world of limitless wants and needs. Students will apply their understanding of macroeconomic theory to analyze the behavior of the economy as a whole, including the role that governments play in regulating economic growth and stability. At the microeconomic level, students will apply their understanding to investigate the interaction between individuals and firms.  

Texas Essential Knowledge and Skills (TEKS) 

UTHS courses are designed in alignment to the Texas Essential Knowledge and Skills (TEKS) which define the skills and content to be taught in each course and grade level in the state of Texas. 

Semester Topics

• Unit 1: Introduction to Economics
  
• Unit 2: Demand, Supply, and Equilibrium – How Prices Are Determined
  
• Unit 3: Business Organizations and Labor
  
• Unit 4: Money, Banking, and Financial Markets
  
• Unit 5: Personal Financial Literacy
  
• Unit 6: Measuring Economic Growth
  
• Unit 7: Government Taxation, Fiscal Policy, and Monetary Policy
  
• Unit 8: International Trade and Economic Development

Course Objectives

Upon completing this course, you will be able to—

• determine the positive and negative effects of the economic concepts, and apply them to evaluate the costs and benefits of these economic systems; 
• explain the concepts of opportunity cost and scarcity and how they are interrelated; 
• analyze and explain how changes in price can affect the quantity of the demand or the quantity of the supply; 
• compare and contrast the advantages and disadvantages of sole-proprietorships, partnerships, and corporations; 
• compare and contrast the different investment options that investors have and explain how to optimally save for retirement; 
• examine the costs and benefits of different types of bank accounts; 
• explain how to manage debt and maintain a good credit score; 
• interpret economic data, including GDP, unemployment, inflation, and poverty; 
• identify the types of taxes collected by local, state, and national governments; 
• evaluate the benefits and costs of participation in international free-trade agreements.

Required Course Materials

Please visit the Computer Requirements page to view minimum device, internet, and application requirements for all UT High School courses. Generally, a desktop or laptop device five (5) years or newer with access to an office suite, such as Microsoft Office or Google Workspace, will be adequate to participate in most UTHS courses.

Unless otherwise noted, students are responsible for purchasing or securing all the following course materials:

• Textbook: A textbook is not required for this course.
• Interactive Notebook: A paper or digital composition book is acceptable. For paper composition books, please also have the following items on hand: 
  • Pens or Pencils
  • Tape or Glue

Course Organization

Students must complete the course in sequence: You will not be able to access the next unit until all work in the preceding unit is completed. You may take your final exam only after completing all units and submitting all graded assignments.  

• Units: Each unit includes multiple lessons and graded assignments as well as ungraded practice quizzes to help you check your understanding of the material.
  
  
• Summative Assessments: Each course includes two online, virtually proctored summative assessments testing your understanding of the material presented in the preceding 2-3 Units.
  • Format: Online, Multiple-choice
  • Time Allowed: 1 hr 30 min
    
    
• Final Exam: Each course includes an online, virtually proctored final exam testing your knowledge of all material presented in the course.
  • Format: Online, Multiple-choice
  • Time Allowed: 3 hrs 20 min

Course Grade Weighting

Your final course grade is calculated by weighting the three assignment groups displayed in the table below:

Online Proctored Exams

All course exams, including both summative assessments and the final exam, must be completed online. Students must test online with Proctorio and are required to add the Proctorio extension to either their Microsoft Edge or Google Chrome browser—installation instructions are provided in the student's course. Proctorio uses a student's computer, web camera, and microphone to record video of both the student and their desktop during the exam. Then, UTHS instructors review the student's exam video data collected by Proctorio. Only authorized UTHS staff and instructors can view the exam recordings. Student data is not shared with any persons or organizations outside of UTHS and are deleted after one year. We encourage you to visit Proctorio's Data Security and Privacy site pages to learn more about how we protect student date.