Introduction to Economics (Self-Paced)

This is an asynchronous, self-paced course. For live instruction of the same course, visit our Economics page for more information and to register.

This one-semester course introduces students to the world of economic thinking. Students will begin to define economic concepts, understand why economists choose to view the world through a particular lens and analyze the economic interactions of the people and businesses they observe in society. A primary goal is for students to become familiar with foundational market concepts such as scarcity, opportunity costs, comparative advantages, and inflation. Students should then be able to appropriately apply their economic understanding to personal decisions, business activities, and government policies. The course focuses mainly on microeconomics but will also touch on some macroeconomic ideas.

Students will have regular homework assignments and quizzes, as the course in broken into sixteen modules. Some examples of assignments include the following: running a virtual lemonade stand and identifying economic principles used, watching a video about minimum wage laws, making a government budget using certain economic and social goals, comparing the economic and government structures of two different countries in the world, playing a stock simulation game, and reading about the history of money and inflation. There is an estimated 4 hours of work per week.

Here is a preview of some of the weekly topics:

• Scarcity, Resources, Opportunity Cost, Cost/Benefit Analysis
• Supply and Demand Shifts, Elasticity, Types of Goods
• Diminishing Returns, Allocation of Scarce Goods, Specialization
• Trade in Competitive Markets, Transaction Costs
• Understanding Economic Institutions (Banks, Corporations, Cooperatives, Labor unions), Rules of the Game
• The Role of Government in the Economy (Taxes, Externalities, Regulations)
• Nature and Causes of Money (Valuation, Historical Development, Inflation)
• Comparing Economic Systems (Market, Command, Traditional, Mixed)
• International Trade and Economic Growth
• Stocks and Investment Options (with simulation stock buying opportunity)

Who should enroll?

This class is recommended for 9th-12th graders. Eighth graders accepted if advanced in their studies and work ethic. The course is intended to fulfill the typical requirements for a half year high school level course.

• Streaming video capabilities to watch recorded lectures

Evaluation and Feedback

Students will receive comments and individualized feedback on their assignments via Canvas. Work will be graded within one week of submission, and student questions will be addressed in a timely manner.

Communication