Honors Economics Schedule Academic Expectations Academic Honesty Policy



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. The study of Microeconomics concerns the fundamental decisions of individuals--both consumers and producers--within the larger economic system. Micro emphasizes the study of opportunity cost and scarcity; including concepts such as the nature of product and factor markets, price determination, and marginal cost analysis. Macroeconomics uses the basic principles of economics to explain the economic system as a whole. Macroeconomics focuses on comparative economic systems, national income accounting, economic growth, and international trade; stressing the need for accurate measures of economic performance, and the role of government in promoting greater efficiency and equity in the economy.

The Honors Economics course will focus on the study of Macroeconomics, and in particular the debate surrounding government attempts to manipulate, direct, and control the economy to correct for market failures.

Course Objectives: 

Students will:

      Obtain an understanding of fundamental economic principles and theories. 

      Apply their understanding of course material to their personal lives. 

      Enhance their decision-making abilities by analyzing and examining contemporary economic issues.

      Identify how social and natural factors influence the development of economic principles. 

      Understand how the U.S. economy is affected by market forces as well as government intervention. 

      Analyze and understand the factors that influence and guide America’s economic policies.    

There will be approximately four unit tests this semester and a Final Examination. Grades will be based on homework, quizzes, test scores, simulations, and a final examination.

Required Text:

  Macroeconomics: Private and Public Choice, 12th ed., 2009. James D. Gwartney, Richard L. Stroup, Russell S. Sobel, and David Macpherson (this text includes a software student tutorial as well as online unit quizzes).
Recommended Reading
(available at Cone Library, as well as at academic and commercial bookstores)
The Armchair Economist.  Steven E. Landsburg.  Free Press.  ISBN 0029177766
Econ 101 1/2.  Elaine Schwartz.  Avon Books.  ISBN 0380775328.
From Here to Economy. Todd G. Buchholz.  ISBN 0452274826.
Hidden Order:  The Economics of Everyday Life.  David Friedman.   HarperBusiness.  ISBN 0887308856.
New Ideas From Dead Economists. (Revised). Todd G. Buchholz.  ISBN 0452280524.

  The best site for up-to-date economic issues,  information, and study material

Robert A. Crawford.
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Revised: January 06, 2014