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Course Information
Business and Information Technology Education
BT00132
Marketing Economics
60.00
This is a course of study in the basic economic concepts and foundations with an emphasis on the application of technology to perform marketing duties and tasks which includes the use of word processing, databases, spreadsheets, and graphics. Course content includes topics related to economics, finance, competition, pricing, distribution channels, and international trade. Students will develop leadership traits and identify their leadership potential through participation in the DECA (an association of marketing students) student organization.
Karen Green
Program Specialist
405-743-5473
kgree@okcareertech.org
Recommended:
Entrepreneurship Awareness
(or) International Business and Marketing
Explore fundamental business, management, and entrepreneurial concepts that affect business decision making.
-Explain the nature of business activities
-Explain marketing concept
-Identify components of te marketing mix
-Describe market identification and segmentation
-Explain the relationship of marketing to business and the economy
-Explain the concepts of production and operations and create a flowchart
-Explain the purposes of accounting
-Identify marketing functions and their importance
-Research trends and emerging technologies affecting marketing-

Explore concepts, strategies, and systems needed to interact effectively with others.
-Use proper grammar and vocabulary
-Address people properly
-Explain nature of written communications
-Prepare simple written reports
-Use communication technologies/systems

Explore concepts and strategies needed for career exploration, development, and growth.
-Participate in leadership and career development activities
-Identify personal goals
-Research career opportunities in the field of marketing and business
-Develop a customized plan of study to achieve career goals
-Identify the value of professional associations

Explore the concepts and processes needed to move, store, locate, and/or transfer ownership of goods and services.
-Explain distribution activities of channel members
-Explain the importance of making place/location decisions
-Trace the channels of distribution for selected products
-Describe computerized inventory control systems

Explore the financial concepts used in making business decisions.
-Explain the different forms of business investments
-Identify the impact of the financial markets
-Identify basic financial concepts
-Discuss the relationship between interest rates and inflation rates, and determine how changes in real interest rates impact people's decision to borrow money and purchase goods
-Identify current interest rates on different kinds of savings instruments and loans, and compare those rates with current interest rates on credit cards
-Identify historical examples of fiscal policies and explain why they were adopted
-Determine the differences between federal deficits and surpluses, and their impact on the economy
-Examine the tools of monetary policy and its impact on the economy
-Determine when the federal government and the Federal Reserve should use expansionary or contractionary policies-

Explore the concepts, systems, and tools needed to gather, access, synthesize, evaluate, and disseminate information for use in making business decisions.
-Research techniques involved in gathering information and making decisions
-Identify the process of gathering and analyzing data
-Implement marketing activities requiring the use of technology
-Utilize appropriate forms of technology to make economic decisions
-Identify economic trends in marketing
-Identify ways that technology impacts the economy

Explore the economic principles and concepts fundamental to marketing.
-Explain the concept of economic resources
-Identify factors affecting a business's profit
-Identify elements of internal competition
-Identify elements of external competition
-Explain the concept of productivity
-Describe the different forms of competition in the marketplace
-Interpret the impact of supply and demand on price
-Examine the different economic systems used to allocate resource, goods and services and wealth in other countries
-Compare the relative size and responsibilities of governments in different countries.
-Determine how price and nonprice factors affect the demand and supply of goods and services available in the marketplace
-Explain what causes shortages and surpluses, including government imposed price floors and price ceilings; and determine the impact they have on prices and people's decisions to buy or sell
-Explain the impact of competition among sellers and buyers
-Explain how people's own self-interest helps markets make decisions
-Evaluate the impact of different institutions in a market economy
-Describe how some institutions work to promote the goals of certain interest groups
-Explain how individuals, business and the overall economy benefit from using money
-Determine the components of the money supply in the United States
-Identify the different functions of money and give examples of each
-Explain how the value of money is determined by the goods and services it can buy
-Determine the factors affecting the differences in interest rates
-Describe how entrepreneurial decisions affect job opportunities for others
-Analyze the potential risks and potential gains of entrepreneurs opening new businesses or inventing a new product
-Determine the non-financial incentives that motivate them, and the risks or disincentives they face
-Explain the role that government has in dealing with issues, such as poverty, pollution, and medical research.
-Describe the costs and benefits of government assistance programs, education and other government-funded projects
-Identify projects or programs where the cost of government policies may have exceeded the economic benefits received, and explain why government would continue supporting such projects
-Explain what gross domestic product (GDP) is and how it can be used to describe economic output over time
-Compare GDP per capita in the United States with the same data for other countries
-Describe the impact on the economy when GDP is growing or declining
-Define inflation and unemployment and explain the impact they have on an economy
-Determine when the United States historically has faced high unemployment, high inflation, low unemployment, and low inflation; and identify the economic conditions that existed during those times
-Give examples of the types of unemployment
-Analyze the differences among the different types of unemployment
-Determine how inflation is measured
-Determine the impact inflation has on different sectors of the economy

Explore the value of participating in student organizations to develop leadership and teamwork skills.
-Participate as a team member
-Lead others using positive statements
-Develop team spirit
-Enlist others in working toward a shared vision
-Share authority, when appropriate
-Value diversity
-Recognize others' efforts
-Demonstrate leadership skills
-Identify purposes and goals of student organizations
-Identify opportunities for leadership training and development through student organizations
-Make positive contributions to accomplish team goals
-Generate solutions to team conflicts
Brainbench Certifications
(or equivalent -Investment Concepts
industry certifications): -Business Concepts

Recommended Certifications
A*S*K* Fundamentals of Marketing Concepts Certification
A*S*K* Fundamentals of Business Concepts Certification

The Chartered Institute of Marketing
-Introductory Certificate in Marketing
-National Standards for Marketing Education
Marketing Education Resource Center
Columbus, OH
http://www.MBAResearch.org

National Content Standards for Entrepreneurship Education
-Consortium for Entrepreneurship Education
Columbus, OH
http://www.entre-ed.org

-Priority Academic Student Skills (PASS), Economics Standards 1-11
Oklahoma State Department of Education


Recognized Primary Course Textbooks and Instructional Resources:

-Marketing 2E, J.L. Burrow, 2007, Thomson/South-Western
http://www.marketxtra.swlearning.com

-Marketing Essentials, L.S. Farese, G. Kimbrell, C.A. Woloszyk, 2006, Glencoe/McGraw-Hill, Woodland Hills, CA
http://www.marketingessentials.glencoe.com

-Marketing LAPS, (Learning Activity Packets), MBA Research, Columbus, OH
http://www.mbaresearch.org

-Retail Readiness Certification Prep, 2005, Thomson/South-Western
http://www.retailreadiness.swlearning.com

-Thinking Economics, National Council on Economic Education
JA Economics,
Junior Achievement

-DECA Inc.
http://www.deca.org

-Virtual Business-Retailing, Knowledgematters, Inc.
http://www.knowledgematters.com

-Stock Market Game- Economic Education Council OHLAP Credit
No
8615
Yes
Yes
Yes
Career Majors That Sequence This Course
Career Cluster Pathway Career Major
Marketing, Sales & Service Integrated Marketing E-Marketing Specialist
Marketing, Sales & Service Buying and Merchandising Fashion Buyer
Marketing, Sales & Service Management and Entrepreneurship International Business Entrepreneur
Marketing, Sales & Service Buying and Merchandising Merchandise Manager
Marketing, Sales & Service Integrated Marketing Mobile Marketing