910 Econ 1 People, Profit, Planet


1 semester, ½ credit

Open to juniors and seniors

Prerequisite: 904 Personal Finance

This course is designed to give students a broad basic understanding of basic economics through the lens of the "triple bottom line" of people, profit and the planet.  A social science, economics explores human efforts to satisfy unlimited wants against relatively scarce resources.  The Great Recession of 2008, wealth inequality and the global marketplace effect on the environment are among a few of the many topics discussed.

Skills

By the completion of this course, students will be able to...

  1. Explain economics.
  2. Identify various economic systems currently used in the world.
  3. Explain the laws of supply and demand.
  4. Describe each phase of the business cycle.
  5. Explain the meaning of a wide variety of economic terms.
  6. Discuss the human impact of economic decisions.
  7. Explain the causes of the 2008 recession.
  8. Define a wide range of basic economic term often seen or heard in news broadcasts.

     

Knowledge

By the completion of this course, students will know how to…

  1. Construct charts showing the economic cycle
  2. Find economic indicators and explain their importance
  3. Explain the factors of production
  4. Construct graphs explaining the laws of supply and demand
  5. Use basic economic data to make predictions about economic events
  6. Compare and contrast free market, directed and mixed economies
  7. Explain how different economic systems affect people in those economies
  8. Read and interpret bar graphs and pie charts relating to economics
  9. Debate different economic theories from both sides of the argument
  10. Explain the effects of economic decision making on the environment

 

This curriculum last updated on January 8, 2019, by the Practical Arts Department.