Economics

At Uchenna Academy, Economics is a compulsory course for our grade 11 class. Our course is designed with real-life applications including preparation of amortization tables, understanding interest and principal loan payments.

ECO-FE addresses the required Texas Essential Knowledge and Skills (TEKS). These
can be found at the Texas Education Agency website

Course Overview: This one-semester course introduces the American free enterprise system and emphasizes economic reasoning skills. Many students begin reluctantly, thinking economics is difficult and boring. However, economics includes concepts you already understand, like “supply and demand,” “opportunity cost,” and “scarcity.” These principles impact your daily life.

You might wonder, “Why take this course if I already know some economics?” Economics helps solve mysteries like why a dollar is worth a dollar, the role of government in the economy, and why diamonds cost more than water. This course will help you explore these questions and more.

This course will help you explore and understand these questions and more, using the economic concepts you already know and applying them to new and intriguing scenarios.

Prerequisite: English II

Course Code: ECO-FE

Grade: 11

Credit: 0.5 credit

Course Learning Expectations: The purpose of this course is to help you learn the basic principles of economics and the free enterprise system. When you have completed this course, you should be able to:

1. analyze the economic rights and responsibilities of both consumers and businesses;
2. describe property rights in the United States, as well as limitations and
restrictions placed upon those rights;
3. explain the basic principles and benefits of the U.S. free enterprise system;
4. explain the concepts of scarcity and choice in economics;
5. interpret a production possibilities curve, a circular-flow model, and a supply-anddemand graph;
6. understand how the interaction of supply and demand determines prices;
7. explain the role of financial institutions in saving, investing, and borrowing;
8. describe the types of business ownership and types of market structures;
9. compare the U.S. free enterprise system with other economic systems;
10.analyze the factors involved in acquiring and maintaining good credit;
11.compare the various ways to save and invest and the risks and rewards that each poses;
12.understand how geography impacts economics through trade and the distribution of the factors of production;
13.evaluate the government’s role in the free enterprise system;
14.interpret the measurement and determine the achievement of economic goals;
15.discuss the implications of a fiscal policy action;
16.analyze the basic tools of U.S. monetary policy;
17.understand the influence of economic philosophers and entrepreneurs upon the course of economic history;
18.understand the economic concepts embodied in historical documents including the U.S. Constitution;
19.understand how the culture and values of a society will affect an economy

Course Units: 

• Unit 1: Fundamentals of Economics – 35 hrs
  • Thinking Like an Economist
  • Understanding Markets
• Unit 2: Economic Challenges and Responses – 35 hrs
  • Business and Labour
  • Economic Performance
  • Government and the Economy
• Unit 3: Interrelationships among Economic Citizens – 20 hrs
  • Monetary Policy
  • Money and Banking
• Unit 4: Economic Interdependence – 20 hrs
  • The Global Economy