Economics

An overview of the American economic system, beginning with the theories of the classical economists, progressing to the Laws of Supply and Demand, use of economic indicators to predict future performance indicators, theories of the business cycle, the Federal Reserve System and monetary policy, government spending and taxation. Students will analyze information including that which is presented graphically.

An analysis of industry structures: pure competition, monopoly, monopolistic competition (oligopoly), business costs and the determination of optimal production levels. An in-depth examination of important economic issues such as financial insecurity, the environment and energy policies and a discussion of alternative approaches to addressing these issues. Students will analyze information including that which is presented graphically, and use concepts such as externalities and cost-benefit analysis.