Course Description: While the study of economics has often been called “the dismal science” this course blends a traditional and innovative approach to economic education. The course will conform to a Paideia model of Classical education with a mini-lecture in every unit, academic coaching, and live seminar each week.

Course Objectives:

1. Understand the real-world significance of the market price system, and how prices signals are used by market actors.
2. Define and describe the determinants of supply and demand, and the process of moving toward equilibrium.
3. Describe the legal and social constraints under which market economies operate.
4. Define and describe the characteristics of market economies and command economies, and how they differ.
5. Identify and explain the connection between commodification, consumption, money, and prices.
6. Apply knowledge of trade in markets to the topics of economic development.

This course is approved for dual credit with Faulkner University.