Introduction to Economics

Economics is generally approached as an inductive science; as a boring, mathematical dissection of past events. However, economics properly understood is a fascinating examination of human actions, and the cause and effects that these actions have on each other as we use them to form society. Students will learn how the true science of economics is built on axioms derived from the classical study of human society, and how these axioms are then used as deductive stepping stones to form economic laws that are then applied first to micro and then macro-economics. At the center of our study lies the Word of God which rules over our interpretation of these laws. It is impossible to discuss economics apart from its connections with politics, sociology, philosophy, and theology. We will study various competing forms of economic schools of thought, as well as the effect that their application has had on all these aspects of life.

Course Objectives:

The goal of this course is to understand the logic of economics, and how it applies in our daily lives on both the micro and macro scale, and how economics fits within Scripture.

Texts:

• Robert P. Murphy, Lessons for the Young Economist