Economics is a social science that focuses on understanding the consequences of choices. These choices do not only stem from the financial aspect but also raise concerns about the quality of life, happiness, and success. It is not a business discipline, in the sense that it does not teach one how to make money or run a business, but economic theory does help in government policy formation, business decisions, and in analyzing individuals’ choice of all types. Each of these decisions “costs” something. These costs could be in terms of dollars, time, responsibilities to a job, community service, etc. One reason that economics is interesting is because it is used to address and analyze behavior and issues that can also be the subjects of other disciplines such as law, social science, political science, history, and psychology. This survey course covers the topics a student would need to understand and grasp in order to successfully gain credit for a high school class.
THIS COURSE INCLUDES:
Five Domain Topics:.
- Economic Fundamentals
- Demand and Supply
- Microeconomics
- Macroeconomics
- International Economics
Five Assessments to be completed at the end of each Domain with answer key.
35 Checkpoint Review Quizzes with counterpart answer sheets.
40 Video-Lessons.
35 Checkpoint Review Video-Lessons for understanding/clarification.
Over 15 hours of Video-Lessons.
Full Year’s course.
COURSE GOALS:
Upon completion of this course, the student should be able to:
- Understand basic concepts and principles used in economics.
- Develop the skills to assess economic issues that would affect their lives as students, workers, consumers, and citizens.
- Develop the ability to analyze economic decisions made by policy makers
- Understanding how the macroeconomic environment on a global scale and how international relations have consequences for all microeconomic economies.
- Develop a foundation that prepares the student for an economics course at the university level.
TARGET AUDIENCE
This video-course is primarily intended for high school students who plan to pursue post-secondary education and provides them with a foundation for economic understanding to prepare them for their first college economics course.
COURSE REQUIREMENTS:
No courses are needed. This is an introductory course to economic principles.
COURSE DOMAIN DESCRIPTION:
Each domain below lists the topics under the overall heading to be introduced to the student.
Domain One: Economic Fundamentals
1.1 - What is Economics
1.2 - Opportunity Cost
1.3 - Seven Principles of Economics
1.4 - Types of Economic Systems
1.5 - How to Think Like an Economist
1.6 - Production Possibilities Curve
1.7 - Circular Flow Model
1.8 - Economics Fundamentals Review and Assessment
Domain Two: Demand and Supply
2.1 – Demand: defined
2.2 – Supply: defined
2.3 – Demand Exercise: graphing and interpreting
2.4 – Supply Exercise: graphing and interpreting
2.5 – Change in Demand
2.6 – Change in Supply
2.7 – Change in Demand/Supply Exercise: combined graphing and interpreting
2.8 – Supply and Demand
2.9 – Elasticity
2.10 – Demand and Supply Review and Assessment
Domain Three: Microeconomics
3.1 – Types of Businesses
3.2 – Business Decisions
3.3 – Business Production and Costs
3.4 – The Business Cycle
3.5 – Perfectly Competitive Markets
3.6 –Monopoly
3.7 – Oligopoly
3.8 – Microeconomics Review and Assessment
Domain Four: Macroeconomics
4.1 – Introduction to Macroeconomics
4.2 – GDP, Aggregate Supply and Demand
4.3 – Unemployment
4.4 – Inflation
4.5 – Productivity and Economic Growth
4.6 – Fiscal Policy
4.7 – Monetary Policy
4.8 – Macroeconomics Review and Assessment
Domain Five: International Economics
5.1 – International Trade
5.2 – Advantages of Trade
5.3 – Balance of Payments
5.4 – Exchange Rates
5.5 – Economic Development
5.6 – International Economics Review and Assessment
