FREE MARKET ECONOMICS

Online Access for

student workbook

Second Edition

 
 

FREE MARKET ECONOMICS

Scope & Sequence

UNIT 1: MACROECONOMICS: A Free Market Economy

WEEK 1  Lesson 1 -Introduction to Economics

WEEK 2  Lesson 2 -Defining a Free Market Economy

WEEK 3  Lesson 3 -Employment, US Labor & the Public Sector

WEEK 4  Lesson 4 -American Monetary System

WEEK 5  Lesson 5 -Entrepreneurship

WEEK 6 Review Unit 1; Take Unit 1 Exam

 

UNIT 2: MICROECONOMICS: Follow the Money

WEEK 7 Lesson 1 -Evaluating Your Economic Condition

WEEK 8 Lesson 2 -Everyone is a Capitalist

WEEK 9 Lesson 3 -Achieving Your Peak Economic Potential

WEEK 10 Lesson 4 -Making a Strong Economic Finish

WEEK 11 Review Unit 2; Take Unit 2 Exam

UNIT 3: PROJECT: Career Research & Presentation

WEEK 12 Preliminary Career Research Presentations

WEEK 13 In-depth Research: Job/Salary Research & Mentor Contact

WEEK 14 In-depth Research: Career Motivations & Resume building

WEEK 15 Career Research Presentations

WEEK 16 Open Scheduling at the discretion of the Teacher

FINAL ASSIGNMENT: (professional email with attached project files): Write a professionally-worded message addressed to your teacher, attach your slide presentation file (share Google Slides file or upload pdf), and email these to your teacher-of-record for grading.

GRADING: Verify point values and grading percentages with your teacher. Grading and course assignments are made at the discretion of the Teacher. Track your grades using the ECO Gradebook printed on the last page of the Student Workbook.


Required Reading:

Students will need to access this free, online book for reading assignments that coordinate with the Free Market Economics course:

Callahan, Gene. Economics for Real People: An Introduction to the Austrian School. 2nd Edition, ISBN-13: 978-1479220809, Ludwig von Mises Institute, 2002, Auburn, Alabama.   

Economics for Real People

by Gene Callahan


FREE MARKET ECONOMICS

16 week lesson plan

 

WEEK 1

READ: Callahan’s book, Appendix A

WATCH: U1/L1-A Lecture Video (Start - 25:41)

TAKE: U1/L1 A Quiz

DISCUSSION: Explain the meaning of Matthew 6:24, KJV.  No man can serve two masters: for either he will hate the one, and love the other; or else he will hold to the one, and despise the other. Ye cannot serve God and mammon. (mammon: the debasing influence of earthly wealth)

WATCH: U1/L1-B Lecture Video (25:41 - End)

WATCH: “The Modern Little Red Hen” by Ronald Reagan

TAKE: U1/L1-B Quiz

WEEK 2

READ: Callahan’s book, Appendix B

READ: The Broken Window Fallacy, printed in your book

WATCH: “Broken Window Fallacy” video

WATCH: U1/L2-A Lecture Video (Start - 32:09)

TAKE: U1/L2-A Quiz

DISCUSSION: Examine a current economic event, such as an arson fire that destroys a restaurant.  What are the impacts that are seen by the public?  Identify the impacts are that never seen by the public.  Discuss the costs/benefits of both the seen and unseen.

WATCH: U1/L2-B Lecture Video (32:09 - End)

WATCH: “Defending Capitalism” cartoon

READ: Atlantic article on Solyndra & go to FFB website

WATCH: “Why Private Investment Works and Government Investment Doesn’t”

TAKE: U1/L2-B Quiz

WEEK 3

READ: Callahan’s book, Chapter 2

WATCH: U1/L3-A Lecture Video (Start - 39:53)

WATCH: “Millennial Interview”and PragerU “Minimum Wage” and “1981 Air Traffic Controller’s Strike”

TAKE: U1/L3-A Quiz

DISCUSSION: How would you prepare for a job interview? How would you customize your resume for that job? What information would you expect from the interviewer?  What would you wear?

WATCH: U1/L3-B Lecture Video (39:53 - End)

TAKE: U1/L3-B Quiz

WEEK 5

READ: Callahan’s book, Chapters 4 & 5 & Jacob and Laban, Genesis 30:35 - 31:13

WATCH: U1/L5-A Lecture Video (Start - 32:35)

TAKE: U1/L5-A Quiz

DISCUSSION: Research the term “disruptive innovation.” Explain how Jacob demonstrated “disruptive innovation” in the biblical story of Jacob and Laban from Genesis (assigned lesson reading).

WATCH: U1/L5-B Lecture Video (32:35 - End)

WATCH: “I, Pencil” and “You didn’t build that!” and “Shapiro Debate”

TAKE: U1/L5-B Quiz

WEEK 6

REVIEW: An Exam Review is posted at the end of Unit 1 in the Student Workbook.

WEEK 7

READ: Genesis 23 “Abraham buries Sarah” printed in Week 7 of the Teacher Edition book.

WATCH: U2/L1-A Lecture Video (Start - 32:30)

TAKE: U2/L1-A Quiz

DISCUSSION: Answer the questions in Week 7, Part A, entitled “Do You have a Plan for Your Future?”  First, discuss your plan with a close friend or family member. Second, discuss your plan within a large group or class. Now, re-examine and improve your own plan.

WATCH: U2/L1-B Lecture Video (32:30 - 54:55)

REFERENCE: Use Paycheck and W-4 forms printed in this Lesson and search needed forms on irs.gov for U2/L1-B Quiz

TAKE: U2/L1-B Quiz

WATCH: U2/L1-C Lecture Video (54-55 - End)

WEBSITE: AnnualCreditReport.com

READ: “Understanding FICO Scores”

TAKE: U2/L1-C Quiz

WEEK 8

READ: Callahan’s book, Chapters 6 & 7

WATCH: U2/L2-A Lecture Video (Start - 32:45)

TAKE: U2/L2-A Quiz

DISCUSSION: What is your God-given and most remarkable talent?  Do not overlook characteristics such as loyalty, compassion or courage.  Such commendable traits can indicate suitability for a specific career.  Do more than choose a job.  Own your future.

WATCH: U2/L2-B Lecture Video (32:45 - 1:01)

WEBSITE: Bankrate Loan Calculator and Kelley Blue Book and Carfax and Texas Lemon Law

TAKE: U2/L2-B Quiz

WATCH: U2/L2-C Lecture Video (1:01 - End)

WEBSITE: MyIDCare and RBFCU Millionaire Calculator and Charles Schwab Investments and Fidelity Investments

TAKE: U2/L2-C Quiz

WEEK 9

READ: Callahan’s book, Chapter 8

WATCH: U2/L3-A Lecture Video (Start - 53:00)

WEBSITE: The Balance - “Career Descriptions, Salaries and Benefits”

WEBSITE: Local * Federal * Military salary charts

TAKE: U2/L3-A Quiz

DISCUSSION: Think about your entire lifespan. How are your career plans aligning with your salary, family and personal achievement goals? Discuss how you can add a certification, a specific internship, a mentor, or a company or military recruitment office visit to your research. Targeted research is how you strategically plan for success, instead of just hoping for it.

WATCH: U2/L3-B Lecture Video (53:00 - 1:59:45)

REFERENCE: Mortgage Calculator & HUD Settlement Sheet (for home mortgage closings)

TAKE: U2/L3-B Quiz

WATCH: U2/L3-C Lecture Video (1:59:45 - End)

WEBSITE: TurboTax Tax Calculator

REFERENCE: 2017 1040EZ and W-2 forms in this lesson section

WEBSITE: Open 2017 EIC Tables and 2017 Tax Tables from the irs.gov website

TAKE: U2/L3-C Quiz

WEEK 10

READ: Callahan’s book, Chapter 9

DISCUSSION: Explore different retirement plans on the Internet.  Be prepared to quote dollar amounts and the number of saving and investing years required. Test these figures against your own career plans.  Bring some economic reality to the discussion.

WATCH: U2/L4-A Lecture Video (Start - End: 51 min)

WEBSITES: Legalzoom and eForms

WORKSHEET: Provide term definitions for Estate Planning on Workbook form provided

TAKE: U2/L4-A Quiz

WEEK 11

REVIEW: An Exam Review is posted at the end of Unit 2 in the Student Workbook.

WEEK 12

Student Career Research and Presentation

RUBRIC

STUDENTS: 

  • Starter Questions: 

    • Why did you choose this career path?

    • What do you expect to gain from this career?

    • How do you plan to pursue this career, both educationally and financially?

    • When do you plan to complete your preparation for this career?

    • Where do you expect to find a receptive market for practicing in this career field?

    • Who can act as a mentor to you in this particular career role?

  • Discussion:  Talk with friends, family and classmates your career plans.  Take note of suggestions. 

  • Education/Training: Visit university websites and scour the college of your major for on campus offices or organizations that support your major of study.  Typically, there are social organizations, competitions, and job fairs exclusively for your specific course of study (College of Nursing, College of Engineering, College of Computer Sciences, etc.) 

  • Questions:  Have parents, siblings, friends or your mentor ask you specific questions about your plans.  Document these questions and be prepared to present both the questions and the answers in your final presentation.

  • Mentor: Identify a mentor in your life that has influenced your choice of a career. (friend, family, known professional) Make an appointment to consult with your Mentor and honor that time by being prompt, gracious and thankful.

  • Resumes: No longer than one page. Customize: Indeed & theBalance

  • Citation:  Be sure to document interviews, websites, videos or any sources you find and include as your cited source.  Use a recognizable academic citation format for listing your sources.  Consult these or your own websites for citation assistance:  Liberty UniversityUniv. of Washington * Univ. of Pittsburgh


Preliminary Research Presentations/Questions

5-10 minutes per student

 
 

WEEK 13

Job/Salary Research & Mentor Consultation

  1. Record the websites used to perform your research. Present at least five (5) citations to document your Career Research. Citation sources: Liberty UniversityUniv. of Washington * Univ. of Pittsburgh

  2. Websites for salary information: Indeed estimator * Glassdoor salary calculator * the Balance salary negotiations

 
 

WEEK 14

Career Motivations & Resume

STUDENTS:  Resumes should be no longer than one page for high school seniors. Avoid lots of color, images or artistic renditions -just the facts.  Examples of professional resumes for high school seniors:  Indeed & theBalance

CHECKLIST: 

  1. Review the presentation requirements to ensure you have researched and recorded all the information requested.  

  2. Prepare for presentation. 

    • Practice your presentation several times.

    • Time your presentation. Do not allow yourself to get “long-winded” on a particular slide. Keep your presentation to ~10 minutes.

    • Ensure that you have sent files that your teacher can open for formal presentation on a viewing device.

 
 
 
 
 
 

WEEK 15

Final Career Presentation

8-10 minutes for presentation

plus

5-10 minutes for audience questions

GRADING: The printed project rubric has assigned point values, but check with your teacher on alternative grading options that may be in effect.


WEEK 16

OPEN

Teacher’s discretion