Online Class: Economics 101

This online economics course will equip students with a working understanding of economics and its myriad of business and personal applications.
Self-Paced, Online Class
Monarch Library System
 
  • 11
    Lessons
  • 20
    Exams &
    Assignments
  • 2,942
    Students
    have taken this course
  • 17
    Hours
    average time
  • 1.7
    CEUs
  •  
    Video Audit
    Available
 
 
 

Course Description

Unlocking the Mysteries of Economics: From Basics to Practical Application

In the modern era, soundbites and snippets from media often influence public perception about economics. Yet, with economic principles influencing everything from global policy to daily household decisions, a deeper, more nuanced understanding becomes crucial.

Economics is not just the study of wealth or financial dynamics; it's an examination of how societies manage resources, make choices, and address scarcity. Every day, consciously or not, individuals make economic decisions that ripple out into wider societal and global systems.

Course Vision

Our comprehensive course is designed to bridge the knowledge gap, providing a clear and engaging roadmap to the world of economics. We aim to offer learners a foundational grasp of economic concepts and their relevance, breaking down complex ideas into digestible modules. This course covers a wide spectrum of topics, from the historical roots of economics to its various schools of thought, and from the micro-level decisions of households to the macro-level dynamics that shape national economies.

Curriculum Breakdown

  • Lesson 1: Definition, History, and Various Forms of Economics - Understand the evolution of economic thought and explore different economic systems throughout history. For example, how did ancient trade systems differ from today's globalized economy?

  • Lesson 2: Schools of Thought - Dive into the diverse perspectives within economics, from classical and Keynesian theories to more modern approaches. How do different economic theories interpret the 2008 financial crisis?

  • Lesson 3: Ten Major Principles of Economics - Learn the foundational concepts that underpin all economic discussions, such as scarcity, opportunity cost, and market efficiency.

  • Lesson 4: World Economic Systems and Comparative Economics - Delve into the various economic systems around the world, comparing their strengths and weaknesses. What can we learn from the Scandinavian model versus the U.S. capitalist approach?

  • Lesson 5: Components in Societal Economy - Examine the building blocks of any economy, including labor, capital, and entrepreneurship. How do these components interplay in a thriving economy?

  • Lesson 6: Basic Tenets of the U.S. Economic System - Uncover the principles guiding one of the world's most influential economies. How does the U.S. handle issues like monopoly, competition, and public goods?

  • Lesson 7: Global Economies: Ranking National Economies - Assess the world's major economies, understanding the metrics and indicators that determine their standing. For instance, why has China seen such rapid economic growth in recent decades?

  • Lesson 8: Micro and Macro: Styles of Economics - Understand the distinction between individual, business, and national economic decisions. How do choices made at a local coffee shop impact the broader economy?

  • Lesson 9: Federal Reserve System: aka "The Fed" - Dive into the pivotal role central banks play in stabilizing and guiding economies, with a particular focus on the U.S. Federal Reserve. What tools does the Fed use to combat economic downturns?

  • Lesson 10: Managerial Economics - Learn how economic principles can guide business decisions, from pricing to production. How can understanding elasticity improve a company's bottom line?

  • Lesson 11: Gross National Product (GNP) and Gross Domestic Product (GDP) - Decode these crucial indicators of economic health. How did global GDP figures shift during the COVID-19 pandemic?

Why This Course?

Whether you aspire to better manage your personal finances, launch a business venture, or simply become a more informed global citizen, this course lays the groundwork. We've designed it to be accessible without sacrificing depth, ensuring that learners come away with both the big-picture perspective and attention to detail required to navigate the economic landscapes of today and tomorrow. Join us and unravel the complexities of economics, empowering yourself in a world where these principles play an ever-growing role.

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Course Lessons

Average Lesson Rating:
4.25 / 5 Stars (Average Rating)
"Extraordinarily Helpful"
(1,430 votes)

  • Lesson 1: Definition, History and Various Forms of Economics

    The purpose in studying economics leads to the formulation of principles. The following societal elements: history, politics, and the social sciences, cannot be fully grasped without first coming to some basic understanding of economic principles.

  • Lesson 2: Schools of Thought

    Since its infancy, the complex study of economics has attracted more than its fair share of viewpoints and opinion makers.

  • Lesson 3: Ten Major Principles of Economics

    Mankiw's objective with his work, 'Principles of Economics' was to present readers with a basic framework of how economics works and fundamental structures for analyzing economic systems presently in place.

  • Lesson 4: World Economic Systems and Comparative Economics

    This lesson will focus on different types of economic systems that exist throughout the world; the degree to which they effectively serve their respective environments and the ways in which they complement or clash with one another.

  • Lesson 5: Components in Societal Economy

    One of the purposes behind the science of economics is to present a structure by which a society's economy may be compared or contrasted against those of other societies.

  • Lesson 6: Basic Tenets of the U.S. Economic System

    The strengths of the U.S. economic system depends on natural resources, labor, and capital.

  • Lesson 7: Global Economies: Ranking National Economies

    While the U.S. was formerly viewed to be the sole super economic power, over the past decade, it has declined in many financial and economic areas.

  • Lesson 8: Micro and Macro: Styles of Economics

    Interweaving many of the previously discussed elements relating to economics, the concepts of macroeconomics and microeconomics are useful tools for comparing and contrasting economic activity among world nations.

  • Lesson 9: Federal Reserve System: aka "The Fed"

    By order of Congress, the Federal Reserve System was introduced as part of the Federal Reserve Act of 1913.

  • Lesson 10: Managerial Economics

    As a category, economic activities occurring within corporate structures are known either as managerial economics or business economics.

  • Lesson 11: Gross National Product (GNP) and Gross Domestic Product (GDP)

    Both GNP and GDP are used to facilitate the economic policy making process performed by government, and to contribute to the planning and strategy sessions conducted by corporate executives.
 

Learning Outcomes

By successfully completing this course, students will be able to:
  • Define economics.
  • Summarize the history of economics.
  • Describe the ten major principles of economics.
  • Describe the components in Societal Economy.
  • Summarize Global Economies.
  • Compare and contrast Micro and Macro Economics.
  • Describe the Federal Reserve System.
  • Define the Gross National Product (GNP) and Gross Domestic Product (GDP).
  • Demonstrate mastery of lesson content at levels of 70% or higher.
 

Additional Course Information

Online CEU Certificate
  • Document Your Lifelong Learning Achievements
  • Earn an Official Certificate Documenting Course Hours and CEUs
  • Verify Your Certificate with a Unique Serial Number Online
  • View and Share Your Certificate Online or Download/Print as PDF
  • Display Your Certificate on Your Resume and Promote Your Achievements Using Social Media
Document Your CEUs on Your Resume
 
Course Title: Economics 101
Course Number: 7550314
Lessons Rating: 4.25 / 5 Stars (1,430 votes)
Languages: English - United States, Canada and other English speaking countries
Availability: Enroll in this course from any U.S. state, including California, Texas, Florida, New York, Pennsylvania, Illinois, Ohio, and Georgia. The course is also accessible to learners in English-speaking countries such as the UK, Canada, Ireland, Australia, and South Africa.
Last Updated: January 2024
Course Type: Self-Paced, Online Class
CEU Value: 1.7 IACET CEUs (Continuing Education Units)
CE Accreditation: Universal Class, Inc. has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET).
Grading Policy: Earn a final grade of 70% or higher to receive an online/downloadable CEU Certification documenting CEUs earned.
Assessment Method: Lesson assignments and review exams
Syllabus: View Syllabus

Student Testimonials

  • "Loved it, the course taught me quite a lot" -- Emeriza G.
  • "I enjoyed the course and the ability to go at my own pace. I particularly liked the recommended links and the reference to the self teaching guide. I thought these were very helpful and an added benefit." -- Pamela R.
  • "Everything was helpful. Instructor was great! Thanks!" -- Marcus M.
  • "Concise and efficient! Cordial and excellent arrangement of subject matter to build learning from simple to complex ideas. Enjoyed taking his courses. Would have like to be a student of his in a real life class. The videos were excellent focus material!" -- Yolanda R.
  • "A very good course indeed. The instructor is an expert who is kind enough to make the course easier to learn. Thank you.. For me, all parts are equally helpful. I consider each topic as integral part to the whole course." -- Geraldito G.
  • "Great overview of economics. I learned a lot. What an amazing instructor. His classes are well written and teach a lot and he grades fast." -- Sarah K.
  • "All of the lessons were extremely helpful...I have enjoyed the whole ides of being able to take these courses from my home." -- Manuel H G.

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