Economics

An introductory analysis of the American economic system and its place in the world economy. Topics of the course will include the core concepts of scarcity, opportunity costs and production possibilities; price determination through demand and supply analysis; macro-economic models; fiscal policy; money creation and the banking system; monetary policy; stabilization of the economy through fiscal and monetary policies. 

Basic facts, principles, and problems of economics including the study of the determination of prices by supply and demand, determination of wages, rent, interest, profit, theory of the firm; contemporary economic problems including competition, income distributions, poverty, pollution, and the underdeveloped world.