Course Description

This course aims to provide students with theoretical underpinnings and functional knowledge in economics, so they may become informed consumers, producers, and citizens in today’s world. Economics is the study of how individuals, businesses, and governments make decisions about the use of scarce resources in a world of unlimited wants and needs. This is done at both the microeconomic level and the macroeconomic level, both of which will be examined in detail. At the microeconomic level, students will investigate the smaller units of the economy and individual firms and markets. In macroeconomics, students will study the global economy and economics of nations and governments as they attempt to foster growth and stability. The course is useful in helping students acquire many life skills, including personal financial literacy, and in establishing a foundation for a more advanced study of economics.

Course Objectives

Upon completing this course you will be able to:

  • Develop an understanding of macroeconomic concepts.
  • Apply and interpret consequences of the various economic factors and considerations in the product and service markets.
  • Understand the influence of fiscal and monetary policy, and how they affect the fluctuations in an economy.
  • Articulate the changing role of the government in the macro economy and its impacts.
  • Describe the role of an individual, nation, multi-national organizations, and geographical region in today’s global society.
  • Incorporate consumer economics into daily decisions.
  • Understand and apply higher level graphical skills as they pertain to the study of economics.

Required Course Materials

  • Economics Journal – In the form of a small composition notebook, a spiral notebook, or loose-leaf paper kept in a binder.
  • Pencil or Pen – In order to do well in the course, you must take notes, sketch diagrams and graphs, and solve problems when instructed to do so.
  • Internet Access
  • Adobe Reader

Note: This course does not require a textbook.

Course Organization

Each semester contains 8 units and one final exam that must be taken in person.

Each Unit contains:

  • 4–5 lessons. Each lesson includes some or all of the following components: Engage, Explore, Explain, Elaborate, and Evaluate.
  • Self-assessments to help you check your own understanding of the material covered in each lesson. You must complete these assessments in order to advance in the course.
  • 2 graded assignments

Final Examination

The final examination is comprehensive; it covers the material from all units. To pass the course, you must receive a grade of 70 percent or better. You can apply to take the Final Exam after 100 percent of your graded assignments have been submitted, and at least 70 percent have been graded and returned to you.

Format: multiple-choice questions
Time Allowed: 3 hours
Materials Allowed: #2 pencils, scientific calculator

Semester Topics

Topic 1: Introduction to Economics
Topic 2: Demand, Supply, and Equilibrium – How Prices Are Determined
Topic 3: Business Organizations and Labor
Topic 4: Money, Banking, and Financial Markets
Topic 5: Personal Financial Literacy
Topic 6: Measuring Economic Growth
Topic 7: Government Taxation, Fiscal Policy, and Monetary Policy
Topic 8: International Trade and Economic Development