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Economics is the
social science that studies the
production,
distribution, and consumption
of
goods and services. The
term economics comes from the
Greek for oikos (house)
and nomos (custom or law), hence "rules of the house(hold)."
- Wikipedia
Economics is divided into two parts: Macroeconomics and Microeconomics. Macroeconomics uses the basic principles of economics to explain the economic system as a whole while the study of Microeconomics concerns the fundamental decisions of individuals--both consumers and producers--within the larger economic system. Microeconomics includes concepts such as opportunity cost, scarcity, business organization, financial management, product and factor markets, cost analysis, price determination, and profits. The Honors Economics course will focus on the study of Microeconomics, and in particular the practical application of microeconomic principles to individual decision-making. |
Course Objectives:
Students will:
Ø Obtain an understanding of fundamental economic principles and theories.
Ø Understand how their choices are determined by cost-benefit analysis and profit-seeking.
Ø Apply their understanding of economic concepts to their personal lives.
Ø Enhance their decision-making abilities by analyzing and examining contemporary economic issues.
Grades will be based on homework, quizzes, test scores, simulations, and a final senior project.
