Economics Syllabus

Lakewood High School 2017-2018

Teacher: Thomas Pyne


Voicemail: 7065

Rooms: A213; A217

Office: D202

Office Hours: 7:10-7:40; 3:10-3:30; By Appointment

Off Blocks: 1, 2, and 7


Course Description:

                Welcome to Economics with Mr. Pyne! This semester will be devoted to learning about one of the most talked about fields in social studies, economics. In a short period of time, you will learn the basic concepts of economics and will develop a better understanding about why people and countries behave the way they do. Economists think about the world in their own way and we will be learning their strategies and methods so each of you is better able to understand the world around you. For some people, these things will come naturally. For others, you will be challenged by this content. As a class, we will work together to help everyone reach their best understanding possible. This class is the tip of the economics iceberg and there is so much more to the subject than we will discuss. As with all social sciences, there is disagreement over what is the most proper way to think about the world. As any good economist would claim, we are not here to make value judgements. The goal is to be objective and develop models using evidence to support a theory to explain human behavior.

Topics to be covered:

Economic Reasoning:

  • Choice, Scarcity Opportunity cost
  • Marginalism, Rationalism, Cost/Benefit Analysis, Diminishing Marginal Returns, Incentives
  • Types of Economies (market, command, and traditional)


  • Supply
  • Demand
  • Equilibrium and elasticity
  • Monopolies


  • GDP
  • Unemployment
  • Inflation
  • Aggregate Supply
  • Aggregate Demand

Personal Finance:

  • Budgeting
  • Credit card use


Expected Behavior:

                There are bound to be multiple systems of belief found within our class. As such, it is expected that we respect each other’s beliefs and values and treat them with the dignity they deserve. Bullying of any kind will not be tolerated. The language used within class should remain respectful of others and appropriate for school. During group work, everyone is expected to contribute and work constructively with their classmates to accomplish the task. An important part of school is learning how to work with people of all walks of life because this will be the majority of our experiences in the workforce. There will be times when you have to do work outside of class. To make these assignments easier, come to class prepared to work and with the necessary materials. Every day you should have your notebook and a pen. We do not have a textbook in economics, so be prepared to take notes you can use to study. If you have questions about the code of conduct at this school, consult the school website.

Late Work and Attendance:

                Unless you have spoken with me about an assignment being late, it will receive a maximum score of 80 percent.  If you wish to avoid this penalty, turn things in on time. Should you happen to be absent at some point, it is your responsibility to find me outside of class to collect missed work. I cannot stop class to catch you up on the content you missed. Being on time to class means being seated when the bell rings. In economics, we give quizzes right after the bell rings. If you are not in your seat, you will not be eligible for an attendance bonus.


                Economics is a course you need to pass to graduate. Being so close to graduation tends to cause students to contract Senioritis. To help stave off this malady, the following system is used. Grades will be weighted this semester. The first six weeks is worth 25% of your final grade. The work completed during the second sixth weeks will be worth 35% of your final grade. Lastly, assignments from the third six-week period will account for 40% of your grade for this class. The final exam is a part of the third six-week grading period. Students who are absent 5 or more classes (excused or unexcused) (3 tardy’s = 1 absence) will be required to take the final exam. Students who miss less than 5 class periods can choose whether they want to take the final exam if they want to raise their grades. Grades work as follows: 90-100= A, 80-89= B, 70-79= C, 60-69= D, and anything below 59% is an F.


                Students will need one college ruled single subject spiral notebook and a pen daily. If you do not have a place to take notes, you will not have notes to use and study from for future assignments.


                Papers without a name on them will be thrown away. No name means no grade. Put your name and class period on every paper before turning it in.

About me:

                Outside of the workplace, I enjoy being active and learning new things. When my health permits, you can find me running with my dog Hector, mountain biking, cycling, hiking, fly fishing, or doing something else. I spent a year living in Uruguay and this experience forever changed how I view the world. While there, I learned the first steps in thinking critically and how to hold a true conversation. Oddly enough, these conversations required learning Spanish and sounding like a child while talking about big ideas. Thus, I know what it is like to have something to say and not have the ability to say it.  Here is to a great year and to learning how to speak our truths!

Homework Assignment #1

                Instructions: Take this syllabus home and read it. Then, identify four examples of incentives from this document and write them in the space below the signatures. Next, have your parent/guardian read the syllabus and sign it confirming they have read and understand the information found above.


Your signature below signifies you have read the syllabus and understand the expectations for this course. Parents/Guardians, if you would like, you can provide the best method of contact below should I need to reach you to talk about your student.


Student Name: __________________________________


Student Signature:  __________________________________     Date: _________


Parent/Guardian Name: __________________________________


Parent/Guardian Signature: __________________________________     Date: _________


Preferred contact method (Phone number or Email):  __________________________________



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