- Course type: Self-paced
- Available Lessons: 329
- Average Lesson Length: 8 min
- New lessons are still being added
Watch a preview:chapter 1 / lesson 1What is Economics? - Definition & Types
This course can be found in: MTTC Test Prep
Thousands of practice questions, 40+ MTTC study guides, and 7,000+ test prep video lessons
Course SummaryBoost your confidence for the MTTC (Michigan Test for Teacher Certification) Economics exam by reviewing the text and video lessons in this course. Easy-to-follow, informative lessons outline the topics you could find on the test so you can do your best. This Study.com course was last updated in 2018.
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Course Practice TestCheck your knowledge of this course with a 50-question practice test.
- Comprehensive test covering all topics
- Detailed video explanations for wrong answers
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About This Course
Studying for the MTTC Economics exam is a snap with help from the informative and professionally designed lessons in this study guide course. Topics covered include fiscal and monetary policies, democratic values and effective teaching strategies,. Along with each lesson, we've included a short self-assessment quiz that provides a handy way to see if you're ready for test day.
Check out our MTTC test prep materials! We've got MTTC courses to teach you the material, comprehensive MTTC study guides to help you study, MTTC practice tests to test your knowledge, and informational MTTC resources to get you up to speed on testing logistics.
Syllabus & Course Information
This test prep course is aligned with the topics you'll need to know to earn a passing score on the MTTC Economics test. Our lessons outline instructional teaching strategies, the Central Bank, the impact of geography on economics and much more. After completing this course, you should be able to do the following:
- Detail economic concepts and terminology
- Discuss the impact of geography on economics
- Identify the structure of federal and local governments
- Define scarcity, production possibilities and opportunity cost
- Explain price elasticity and determination
- Detail monetary and fiscal policies
- Describe international economic development
- Outline savings and investments for personal finance
- Differentiate between expansionary and contractionary gaps
- Define inflation and adjustment in economics
- Provide basics about unemployment
- Discuss the different types of assessment strategies for teachers
- Use effective teaching strategies
- Understand different uses for technology in the classroom
Made up of 319 lessons in 37 chapters, this course thoroughly prepares you for the MTTC Economics test. Check to see if you're ready for exam day by taking the lesson quizzes and comprehensive chapter tests.
MTTC Economics Exam Information
The MTC Economics exam is used to assess the subject area and education knowledge of prospective economics teachers in Michigan. The test is administered year-round via computer.
- Number of Questions: 100 questions
- Question Type: Multiple-choice
- Time Limit: Two hours and 30 minutes
- Exam Cost: $130
MTTC Economics Exam Breakdown
|MTTC Economics Exam Concept||Percent of the MTTC Economics Exam||Approximate Number of Questions||Chapter Lessons|
|Economic Concepts & Systems||25%||25 questions||81|
|International Economics||20%||20 questions||33|
|Consumer Economics & Personal Finance||10%||10 questions||28|
|Interdisciplinary Perspectives||25%||25 questions||41|
Preparing & Registering for the MTTC Economics Exam
The lessons in this study guide are designed to help you meet learning objectives addressed by the MTTC Economics exam. Review topics covered in your teacher education and economics programs by watching entertaining videos or reading transcripts on everything from key economics terms to the uses of technology in the classroom. Find out how much progress you've made by taking the multiple-choice quizzes and practice tests.
Registration for the exam can be completed online after creating an account through the MTTC website. You'll be asked to enter your contact information, social security number, birth date, and payment info, along with answers to a few brief background questions. After your account has been created, you'll be able to select a test date and testing area. You'll also receive an admission ticket once your registration has been processed, which you must print and bring to the testing site along with an acceptable photo ID.
Regular registration deadlines fall around six weeks before the test date. Late registration deadlines and an emergency registration period are also available, though these options incur additional registration fees.
Scoring the MTTC Economics Exam
The minimum passing score on the MTTC Economics exam is 220 points. Test results are available around four weeks after your test date.
Economic Concepts and Systems
Around a quarter of test questions cover basic economic concepts, including economic scarcity, choice, opportunity costs, and the factors of production. The influences of economists like Adam Smith and Karl Marx and the characteristics of traditional, market, command, and mixed economic structures are also covered. You should also prepare to answer test questions on the circular flow model of the economy and the relationship between supply, demand, and market equilibrium. The causes of market failures and the effects of government regulation on the economy are also addressed in this test section, as are the various forms of business ownership.
Macroeconomics questions test your knowledge of the national economy, including the relationships between businesses, the government, and individual households. You should also be familiar with how economic indicators, such as unemployment rates and the consumer price index, are used to measure the health of the economy. Stages in the business cycle and the uses of fiscal and monetary policy to encourage economic growth are covered as well. You'll also want to brush up on your understanding of government expenditures, tax structures, and the function of the Federal Reserve system. This content domain includes about 20% of test questions.
International economics questions also comprise around 20% of the exam. These questions test your understanding of comparative advantage and trade interdependence, along with the roles of organizations like the World Trade Organization, the International Monetary Fund, and the European Union. You'll also need an ability to weigh the costs and benefits of protectionism and free trade and describe how multinational corporations operate in a global economy. Factors affecting exchange rates, the effects of globalization, and the strategies used to manage growth in developing economies are also covered.
Consumer Economics and Personal Finance
Approximately 10% of test questions address consumer rights and the federal agencies designed to protect them. An awareness of the tools individuals use to make smart purchasing and investing decisions will prove useful for answering these types of test questions. You should also be aware of the considerations involved in creating a budget and obtaining credit. Other questions assess your understanding of the advantages and disadvantages associated with various savings and investment options as well as the financial services available through institutions like banks and credit unions.
Another quarter of test questions cover the cornerstones of Michigan's economy and the historical events affecting the U.S.'s economic development. You'll also need to be familiar with the economic impacts of events like the agricultural and industrial revolutions on human civilization. An ability to evaluate the usefulness of historical source materials and assess the impact of human and physical geography on a region's economic activity is also required. U.S. and state constitutions, the organization of federal and local governments, and the effects of politics on public policy decisions are covered as well.
MTTC is a registered trademark of the Michigan Department of Education and Pearson Education, Inc., which are not affiliated with Study.com.
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