COURSE SYLLABUS
ECONOMICS
I.
COURSE DESCRIPTION
Economics is an introductory course in both microeconomics and macroeconomics,
including a discussion on the relationship between worldviews and economic theory, with
an emphasis upon free market economics. Students will be presented with microeconomic
theory as it relates to the nature of property and property ownership, the laws of supply and
demand, profits and incentives, the morality of markets, the role of market information,
and the price system. The section on macroeconomics will cover the role of civil
government in the free market place, as well as the growth of government involvement in
the economy, which includes discussions on political economy and public policy. In this
regard, topics such as taxation and fiscal policy, monetary theory and inflationary policies,
tariffs, minimum wage laws and unemployment, and the nature of price controls will be
addressed. Students will also be presented with a brief overview of the U.S. federal budget
and the rise of entitlement programs in contrast to American constitutional theory as it
specifically relates to federalism and limited civil government.
II.
RATIONALE
Economics is intended to provide students with an introductory overview of the fields of
micro-and macroeconomics.
III.
PREREQUISITES
None.
IV.
MATERIALS LIST
Microsoft Office or compatible software
V.
MEASURABLE LEARNING OUTCOMES
The objective of the economics course is to provide students with an introduction to both
micro-and macroeconomics, with an emphasis upon the following learning outcomes.
Each lesson within the five individual modules also contains more specific outcomes
associated with these. Upon completion of the course, students will be able to:
A.
Articulate the biblical principles of economics which highlight the origin and nature
of property as the cornerstone of the market system, the role of competition as the
dynamic of the system, and profit as the motivation of the system.
B.
C.
D.
E.
F.
G.
H.
I.
J.
K.
L.
M.
N.
O.
P.
VI.
VII.
Identify or explain the economic fallacies attributed to the free market relative to
the morality of the system.
Assess the role of prices as to their information function as the power of the market
system.
Discuss or identify the nature of voluntary exchange and subjective value theory.
Distinguish between the laws of supply and demand with their associative function
in the market.
Discuss or identify the nature of money and monetary theory.
Distinguish between domestic protectionism and foreign trade restrictions and their
policy impact upon the market, and free international trade.
Critically analyze the role of government in the market system and the impact of
central planning.
Identify or explain the origin, nature and consequences of the Federal Reserve
System as the U.S. monetary authority and its impact upon the Great Depression.
Assess the significance of the Franklin D. Roosevelt Administrations and the
emergence of New Deal Legislation and America’s welfare state.
Identify or explain the nature of equality, and distinguish between equality of
opportunity and equality of outcomes, and the nature and impact of egalitarian
economic policies.
Identify or explain the nature of inflation as a monetary policy and its economic
consequences.
Identify or explain the nature of the American constitutional order and system
relative to its federal dynamic and the proper interpretation of Article 1, Section 8,
clause 1: the ‘General Welfare’ clause relative to U.S. economic policy.
Identify and explain the origin of U.S. Budgets and the role of fiscal policy relative
to taxes and their impact upon productivity.
Discuss or identify the nature of price controls relative to price ceilings and price
floors.
Identify or discuss the rise of U.S. entitlement programs and their impact upon the
federal budget as well as productivity.
COURSE REQUIREMENTS AND ASSIGNMENTS
A.
Individual lesson assessments: 1 lesson assessment per session in the form of a fivequestion quiz worth 25 points. Some lesson assessments are essays.
B.
Section Quizzes: 11 section quizzes covering material consisting of 4 to 5 five
lessons. Each quiz is worth 75pts.
C.
Writing Assessments per Unit Module: 2 writing assignments per unit worth
25pts. or 35pts.
D.
1 Test per Unit Module worth 150pts.
E.
1 Final Exam worth 250pts.
COURSE GRADING AND POLICIES
A.
Grading Weights
Lesson Assignments
25%
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Quizzes and Written Assignments
Tests
Final Exam
B.
Scale
A
B
C
D
F
VIII.
35%
40%
40%
93 – 100
85 – 92
77 – 84
70 – 76
Below 70
Other Policies
A.
B.
Academic Misconduct
See pages 32-35 of your Student Handbook
Repeating Assignments
Students may repeat lesson assessments for a maximum of two attempts.
Additional attempt requests will be decided on a case by case basis.
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