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Economics
Course Cost: $240.00 + cost of the textbook. Textbook order information below.
Credit: .5
Course Materials:
Economics: Principles in Action, by Arthur O'Sullivan and Steven M. Sheffrin
Pearson Education - Prentice Hall, 2003
ISBN: 0-13-063459-XThis textbook is required. You may obtain it independently or purchase it from Pearson Education - Prentice Hall.
Customer Service: 1-800-848-9500You may also order your textbook online from MBS Direct. To go to the virtual bookstore, click on the graphic below.
Course Description:
Economics is the study of how societies deal with the problem of scarcity, i.e. not enough goods and services to satisfy everyone's wants and needs. To understand this problem, students will study the market system, other economic systems, business organizations, supply and demand, money and the banking system, economic growth, governments taxing and spending policies, monetary and fiscal policy and International trade. There is an emphasis on the Free Enterprise system of the United States and the production, consumption and distribution of goods and services as compared to the rest of the world. The course examines the rights and the responsibilities of the consumer, businesses, and the government in our economics system. The course is divided into six units. It follows the Texas Essential Knowledge and Skills (TEKS) for High School Economics.
Course Outline:
Unit 1 Introduction to Economics and Economic Way of Thinking
Unit 2 Supply, Demand and Markets
Unit 3 Money, Banking and Finance
Unit 4 Measurements of the Economy’s Performance
Unit 5 Government and the Economy
Unit 6 Global Economy
Economics Core Objectives:
Upon completion of this course, the student will understand:
• Scarcity is the fundamental economic problem; unlimited wants and limited resources.
• Scarcity forces us to make choices about resource allocation.
• Societies develop differing economic systems when they answer the three basic economic questions.
• Supply and demand are essential elements in a market economy.
• The price system is based on the interaction of supply and demand.
• The role of government is to promote economic growth and stability.
• The Federal Reserve System functions as our nation’s central bank.
• Specialization and trade lead to greater economic efficiency.
• Nations differ in their level of economic development.Course Activities:
Research assignments, worksheets, writing assignments, self-checks, quizzes, unit tests, and final exam.
