COURSE DESCRIPTION:

This class will help students develop a clearer understanding of familiar economic concepts and fundamental economic principles. Students will study supply and demand and the effects of market forces on supply and demand curves. They will explore government regulation of the private sector through antitrust regulation. They will also study institutions that interact in a market economy. They learn the importance of the entrepreneur to the economy. Students will explore labor markets, financial markets, and the ways in which business organizations grow. Students will learn how the economy is measured, how the economy grows, and economic challenges, such as unemployment, inflation, economic instability, and poverty. They will explore sources and uses of government revenue. The role of banking and the Federal Reserve System in the national economy also is presented.

TEXTBOOK: Contemporary Economics by William A. McEachern, 2005

Unit 1:
What is economics?
Economic Systems and Economic Tools
U.S. Private and Public Sectors

Unit 2: The Market Economy
Demand
Supply
Market Forces
Market Structure

Unit 3: Market Institutions
Businesses
Labor Markets
Financial Markets and Business Growth