Class Syllabus: Economics 102
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Continuous
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Continuous
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Course Description
Economics is an inherent part of our world. And, with every passing day, economics becomes more and more pivotal to our survival. From the items we buy at the store and our personal banking accounts to the types of industries in which we work and the resources government employs to sustain our communities, we are surrounded by economically-based challenges on a daily basis.
With this course, our goal is to equip you with a working understanding of economics and its myriad of business and personal applications. As such, we have crafted an easy-to-understand course comprised of economic's principle tenets while specifically highlighting such central ideas as: supply and demand, interest rates and inflation.
True, economics can be a complex subject. Yet, it remains highly pertinent to our modern-day lives not to mention a most stimulating topic. From gaining a sense of the forces that drive the economy to understanding how statistical and economics come together to forecast future monetary trends, this course offers a great deal of valuable information for both business and personal purposes.
Knowing how the system operates has a range of benefits from the practical-why we pay taxes to the more lucrative possibilities –tips for investing within the money markets.
Regardless of whether you want to become more familiar with economics so that you can better budget your household expenditures or so that you can became the entrepreneur you have always dreamed, has the fundamentals to guide you without overtaxing your brain.
Course Requirements
This course will not require you to have previous experience in any particular area but you should have a high school reading level. No books will be required.
Course Topics
Supply and Demand Model
- Introduction: Supply and Demand
- Supply and Demand: roles they play
- Market Structure: Monopoly and Perfect Competition
- Supply and Demand: Schedules
- Aggregate Supply and Demand
- Summation: Supply and Demand
Supply and Demand Curves and Elasticity
- Revisiting: Supply and Demand Curves
- Elasticity
- Elasticity of Demand
- Elasticity of Supply
- Graph Charting
- Measuring Elasticity
- Summation: Supply and Demand—Curves and Elasticity
Marginalism
- Introduction: Marginalism
- Marginalism: History of Subjectivity and Objectivity
- Utility
- Laws of Diminishing Marginal Utility
- Consumer Demand Theory
- Summation: Marginalism
Fiscal Policy and Monetary Policy
- Federal Governments Role
- Overview: Fiscal and Monetary Policy
- Inflation
- Focus: Fiscal Policy
- Enacting Fiscal Policy
- Focus: Monetary Policy
Economic Growth, Stimulus and Stabilization
- Overview: Economic Conditions
- Altering Economic Down Turns
- Government Stimulus Relief
- Measuring Impact of Stimulus Relief
Interest Rates I
- Overview: Interest Rates
- Interest Rates and the Economy
- Interest Rates: Determination
- Impact of Interest Rates: Impact
- Nominal and Real Interest Rates
Interest Rates II.
- Role Interest Rates Play in Economy
- Correlative Understanding
- Interest Rates: Importance
- Nation’s Health and the Economy on Interest Rates
- Interest Rates Impact on Economy
- F Recent Interest and Federal Rate Trends
- Outlook: Interest Rates
Inflation"Deflation, Financial Booms and Recessions
- History: Inflation
- Definition: Inflation
- Inflation: Price Indexes
- Inflation: Types
Financial Markets and Investing
- Introduction: Financial Markets
- Overview: Financial Markets
- Financial Markets: Types
- Financial Markets: Structures
- Financial Markets: Investments
Taxation Structures
- History: Taxation
- Reagonomics: The Reagan Tax Cut
- Bush Economics: The Bush Tax Cut
- Taxes: Modern Day
- Taxes: Types and Levels
Public Finance
- Overview: Public Economies
- Cost Benefit Analysis (CBA)
- CBA: Basic Steps
- Separation of Federal, State and Local Public Finance
- Expenditure Changes: State and Local Levels
Revenue and Economic Forecasting
- Introduction: Revenue Forecasting
- Revenue Forecasting: Types
- Economic Forecasting: Words from the Chairman of the Fed
- Summation: Revenue and Economic Forecasting
Economic Indicators and Statistical"Probability Economics
- Overview: Economic Indicators
- Economic Indicators: Categories
- Economic Indicators: Types
- Summation: Economic Indicators
Econometrics: Marriage of Statistics and Economics
- Econometrics: Bringing Everything Full Circle
- Introduction: Econometrics
- History: Econometrics
- Haavelmo and the Probability Factor
- Econometrics: Branches
- Econometrics: Approaches
The Non-Econometrician’s Lament
Economic Books and Additional Resources
- Economics: Staying Current
- Economics: Media Outlets
- Economics: Books
- Economics: Organizations
Course Materials
All course material will be provided in the lessons and netlinks. There are no required materials to purchase before taking the class.
Grading Policy
Each lesson will include a lesson review quiz along with an assignment. Students will successfully complete this course with 70% or better.
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