Introduction to fundamental economic concepts through contemporary social issues. Examine how societies deal with limited resources and social, cultural, and political responses to changing economic conditions. Recommended for those seeking a greater understanding of economics and contemporary issues. This class may include students from multiple sections. (Social Sciences, Elective)
- Students will use economic history to explain the evolution of economic institutions and their ideological legitimation of the distribution of welfare.
- Students will use graphical models – consumption possibilities, production possibilities, demand and supply, aggregate demand and supply – to explain economic outcomes.
- Students will explain, using economic models, how fiscal and monetary policy affect the business cycle.
- Students will access primary data for macroeconomic performance from the BEA, BLS and Census to test propositions about economic outcomes as shaped by public policy.