This course upper class elective introduces students to principles of economics. Its focus is on basic economic concepts and their relevance to the decision-making of individuals, corporations, and governments. Students will examine microeconomic subjects, including models for individual decision making and the interaction between supply and demand. The class will also explore macro level issues such as growth, inflation, and globalization. In addition to more traditional approaches, the class will examine concepts developed by the emerging school of behavioral economics, which studies the effects of psychology and emotions on decision making.
Through observation and discussion of current world events, political controversies, and economic theory, students will learn about basic economic models, the impact of government policies, and the significance of particular economic issues. Students will also apply economic theory to analyze arguments surrounding important issues facing our country today such as tax policy, social security, healthcare, government spending, globalization, privatization, wealth inequality, environmental policy, and so on.
The class will regularly revisit the following questions: How do economic issues impact our everyday lives? How does knowledge of basic economic principles affect one’s world views? What are appropriate roles for government in the economy? How do economics and politics influence one another?
This class employs a wide range of instructional techniques, including lecture, discussion, student presentations, group and individual activities and mini-projects, and videos.
Reading, quantitative analysis, conceptual reasoning are at the core of the learning experience. Students will express their understanding and reasoning writing and public speaking. Students are required to complete regular informal writing assignments and blog posts, research current economic events, and work on a variety of collaborative assignments and projects. In addition to the assigned text, students are also required to read and assess a number of supplemental articles and other media.