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Course Outline

This course is designed to provide the student with a basic understanding of the important relationships of economics to our social and political problems. The course emphasizes the philosophy, development, and operation of our American economic system and its important influence upon the individual and society.

Interest and concern with economic issues top virtually every public opinion poll, but Gallup polls show an appalling lack of understanding of underlying economic concepts. The lack of economic literacy is not surprising. Seven out of ten adults in a recent survey stated that they had never had economics instruction in high school. Yet, of high school students interviewed in the survey, half reported taking steps in the previous six months to learn more about how our economy works. In addition, virtually all that interviewed thought more economics ought to be taught in the nation’s schools. The National Council for the Social Studies recommends that all high school students take a course in economics before graduation. Nearly half of the states have just such a requirement. The new state standards for high school graduation includes testing on knowledge and skills in economics.

This economics course has two primary objectives. First, the class is designed to provide students with an overview of business, finance, banking, investment, government’s role in the economic system, labor-management relations, foreign trade, income inequality, and related fields. The knowledge and skills acquired will help the student make career decisions and make wise choices for further study at a college or vocational school. Students will gain insights into the advantages, disadvantages, and strategies of starting a business of one’s own.

The second major objective of the course is to provide each student with the knowledge and skills to do very well in any college or vocational school economics course. At least two courses in economics are required for most business majors and a host of non-business majors. The course is appealing to students who are interested in history, math, or contemporary issues. The course is designed for all students to be successful. For individuals wishing to prepare for the advanced placement exam, additional readings and/or assignments will be provided at the student’s option.


  1. Introduction to Economics

  • Basic Economic Concepts

  • Concepts Continued

  • Comparative Economic Systems

  • Market Economic System

  • Free Enterprise System

  • Free Enterprise at Work

  • Supply and Demand

  • Supply and Demand Continued

  • Elasticity

  • Web Quest

  • Quiz: Introduction

  • Assignment: Introduction WebQuest


  1. The Consumer

  • Microeconomics

  • Government Protection

  • Factors of production

  • Budgeting

  • Managing a Budget

  • Budgeting WebQuest

  • Handout: Consumer

  • Quiz: The Consumer

  • Assignment: Consumer


  1. Business

  • Business Organizations

  • Corporate Organizational Structure

  • Corporate Organizational Structure (cont.)

  • Nonprofit Organizations

  • Models of Competition

  • Market Failures

  • Business Plan WebQuest

  • Quiz: Business

  • Assignment: Business


  1. Government

  • Governmental Role in Avoiding Failure

  • Public Goods and Services

  • Governmental Spending

  • Governmental Spending Continued

  • Federal Spending

  • Federal Spending Continued

  • Quiz: Government


  1. Labor

  • Labor and Wages

  • Labor Union Movement

  • Labor Union Movement Continued

  • Major Union Legislation

  • 1946-Present

  • Collective Bargaining

  • Labor Trends

  • Web Quest

  • Quiz: Labor

  • Assignment: Labor


  1. Agriculture

  • Agriculture In The U.S.

  • Agricultural Policies

  • 2002 Census

  • Homeland Security

  • Coordination of Fed and State

  • Protecting Meat & Poultry

  • Energy Policy

  • Midtest

  • Assignment: Midtest

  • Quiz: Agriculture


  1. Measuring the Economy

  • Measuring The Economy

  • Measuring the Economy Continued

  • Economic Growth

  • The Business Cycle

  • Business Cycle Continued

  • Quiz: Measuring the Economy


  1. Money and Banking

  • What is Money

  • Money In America

  • Money In America Continued

  • Money In America Essays

  • Money In America Essay Continued

  • Banking/Federal Reserve

  • Banking/Federal Reserve Continued

  • Types of Banks

  • Types of Banks Continued

  • Banking Crisis and Reform

  • Quiz: Money and Banking


  1. Investments

  • Investment Strategies

  • Investment Strategies Continued

  • The Stock Exchange

  • Mutual Funds – What and Why?

  • Stock Funds

  • Bond Funds

  • Money Market Funds

  • WebQuest

  • Quiz: Investments

  • Assignment: Investments


  1. Taxation

  • Taxation

  • Tax Reform/VAT

  • Government Services

  • Taxes in the U.S.

  • Taxes on Consumption/Property/Wealth

  • Federal Income Tax

  • Your Federal Dollar

  • Tax Reform Act of 1986

  • Evolution of Social Security and Medicare

  • Quiz: Taxation


  1. Monetary and Fiscal Policy

  • Unemployment

  • Inflation

  • Income Inequality

  • Monetary and Fiscal Policy Monetary and Fiscal Policy

  • Monetary and Fiscal Policy (Cont.)

  • Quiz: Monetary

  1. Final Exam

  • Post-test

  • Assignment: Post-test

  • Quiz: Final Exam

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