US and Global Economics Online Single Semester
In this course on economic principles, students explore choices they face as producers, consumers, investors, and taxpayers. Students apply what they learn to real-world simulation problems. Topics of study include markets from historic and contemporary perspectives; supply and demand; theories of early economic philosophers such as Adam Smith and David Ricardo; theories of value; money (what it is, how it evolved, the role of banks, investment houses, and the Federal Reserve); Keynesian economics; how capitalism functions, focusing on productivity, wages, investment, and growth; issues of capitalism such as unemployment, inflation, and the national debt; and a survey of markets in such areas as China, Europe, and the Middle East. HST403: U.S. Government and Politics (or equivalent) is recommended, but not required.
Unit 1: The Game of Economics
Economics has a lot in common with games—they both have players and rules, and involve decisions, actions, and goals. This unit introduces students to the game of economics.
- What Is Economics Anyway?
- Different Ways to Play
- Dollars and Sense
- Technology and Economics
Unit 2: The Players
In this unit, students learn about the producers and consumers of goods and services, and what kinds of things influence the decisions they make. Students look at competition, the effect of the media, and business models.
- Consumers and Producers
- Consumer Choice
- The Business of Business
- Business Models and Model Businesses
Unit 3: The Price Is Right
Students learn about supply and demand, competition between buyers and sellers, and various non-economic factors that can influence price. They learn how wages are determined in the labor market and explore the effect of labor unions. They look at the housing market, standards of living, inflation, and more.
- Supply and Demand: It's the Law
- Get a Job
- Find a Place to Live
- The Ups and Downs of the Economy
Unit 4: Money, Money, Money
Students learn how money functions in an economy, the structures and operations of the U.S. banking system, and how the money supply is regulated. They compare different types of monetary policies, and learn about stock markets, various financial markets, and financing options available to businesses.
- Money in the Bank
- The Stock Market
- More Markets
- Financing a Business
- Money, Money, Money
Unit 5: The Government Gets Involved
Students learn about taxes, tariffs, government spending, and fiscal policy. They explore the role of the government in maintaining a free-market system and see how laws directly or indirectly affect the choices of consumers, producers, and workers.
- Taxes and Tariffs
- The Government Is a Consumer
- The Government Is a Referee
- The Government Is a Police Officer
Unit 6: The Global Game Board
Students learn about international trade and how globalization affects standards of living and economic growth. They learn about the operations of international and domestic banks, organizations that play a role in the international economy, and the World Trade Organization. They learn about problems that stem from globalization and possible solutions.
- It's a Small World
- International Organizations
- The Challenges of Globalization
Unit 7: Playing the Game Yourself: Personal Finance
Students learn about personal finances: bank accounts, debit and credit cards, checks, and budgets. They learn about the costs of housing, insurance, cars, and college.
- Making Choices
- Planning Ahead
- Give Me Some Credit
- The Responsible Consumer
Unit 8: U.S. and Global Economics Review and Exam
Students review what they have learned and take the final exam.