1 semester, ½ credits           

Economics is the study of choice.  Microeconomics is the economic branch that studies decision-making by a single individual, household, firm, industry or level of government.  The focus is on specific parts of an economy.  Course work is studied in the areas of price elasticity of demand and supply, production costs, and market structures.  Questions concerning why suppliers produce and quotas impact on an industry’s price structure will be studied.  Macroeconomics is the economic branch that studies decision-making for an economy as a whole.  Course work is studied in the areas of inflation, unemployment, economic growth, and the nation’s money supply.  Questions dealing with factors affecting the overall price of goods and the federal budget will be analyzed. 

Prerequisite:  None.

GOALS and CURRICULUM

Primary Objective:  Learn How To Learn

Text:  Contemporary Economics, 1e, 2005

William A. McEachern, University of Connecticut

GOALS

1. Students will understand the economic way of thinking about events and its importance.

2. Students will be able to apply economic concepts to explain results.

3. The student will enrich their business vocabulary as a foundation for reading and study as they continue their preparation for and participation in society and/or business fields or careers.

CURRICULUM

Microeconomics is a course discussing:

Economic Thinking    Production Possibilities    Markets    Demand and Supply

Price Elasticity    Consumer Choice    Production Costs    Market Structures

Income Distribution, Poverty, and Discrimination

Macroeconomics is a course discussing:

Economic Measurement    Business Cycles    Unemployment    Inflation

Aggregate Demand and Supply    Fiscal Policy    Keynesian Model

Federal Reserve System    Monetary Policy    International Trade and Finance