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The following Course Outline provides an overview of the
topics to be covered in this course. While the information will be presented
roughly in the order of the textbook, some changes have been made in the order
of instruction. This course will follow the order of the outline below.
For your convenience, textbook references are included by
Chapter and Section number. Major tests are also indicated here. The homework
column indicates which questions in the textbook will be assigned for homework.
Actual homework assignments and due dates are detailed in the "Look Here First"
section of this website and include supplemental assignments, extra credit, etc.
In short, the homework assignments included here are for the textbook only and
do not represent all the homework due for this course.
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Topic |
Text Reference |
Homework from Text |
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Introduction to Economics
Scarcity, Choices, and Opportunity Cost
Factors of Production
Utility and Value
The Circular Flow Model
Productivity
Opportunity Cost
Production Possibilities
Cost-Benefit Analysis
Test on Chapter 1 |
Ch 1 S 1
Ch 1 S 2
Ch 1 S 3
|
p. 10 # 3, 4, 5, 7
p. 17 # 3, 4, 5, 6
p. 25 # 2, 3, 4, 6 |
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Economic Systems
Market Systems vs. Command Systems
U. S. Economic Goals
Characteristics of Capitalism
The Communist Experiment
Countries in transition to Capitalism
Test on Chapters 2 & 17 S 3 |
Ch 2 S 1
Ch 2 S 2
Ch 2 S 3
Ch 17 S 3
|
p. 41 # 2, 3, 4, 6, 8
p. 46 # 3, 4, 5, 6
p. 53 # 3, 4, 6, 7
p. 495 # 2, 3, 4, 5, 6, 8, 9
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The Demand/Supply Model
The Demand Curve
Determinants of Demand
Elasticity of Demand
The Supply Curve
Determinants of Supply
Elasticity of Supply
Test on Chapters 4 & 5 S 1
The Price System
Equilibrium Prices
Ceilings and Shortages
Floors and Surpluses
Test on Chapter 6 |
Ch 4 S 1
Ch 4 S 2
Ch 4 S 3
Ch 5 S 1
Ch 6 S 1
Ch 6 S 2
Ch 6 S 3 |
p. 95 # 2, 4, 5, 7
p. 101 # 2, 3, 4, 7
p. 109 # 4, 5, 6, 8
p. 125 # 3, 4, 5, 6, 7
p. 146 # 2, 3, 4, 5
p. 154 # 2, 4, 5, 6
p. 161 # 2, 3, 4, 5, 6, 7
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Business Economics
Business Organization
Sole Proprietor
Partnership
Corporation
Special Business Types
Business Expansion
Reinvestment
Merger
Borrow
Initial Public Offering
Theory of Production
Profit Maximization
Fixed and Variable Costs
Marginal Cost/Revenue
Profit Maximization
Test on Chapters 3 & 5 S 2-3
Market Structures
Perfect Competition
Monopolistic Competition
Oligopoly
Monopoly
Market Failure & Externalities
Government Intervention
Test on Chapter 7
MID TERM EXAM
(CHAPTERS 1-7 & 17.3)
|
Ch 3 S 1
Ch 3 S 3
Ch 3 S 2
Ch 5 S 2
Ch 5 S 3
Ch 7 S 1
Ch 7 S 2
Ch 7 S 3 |
p. 70 # 2, 3, 6
p. 83 # 2, 3, 4, 7
p. 77 # 2, 3, 4, 5, 6
p. 130 # 2, 3, 4, 6
p. 137 # 2, 3, 4, 6
p. 177 # 2, 4, 5, 6
p. 183 # 2, 3, 4, 6
p. 189 # 2, 3, 4, 5
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Labor Economics
Labor Unions
Vocabulary
Purpose
Collective Bargaining
Economics of Wages
Trends
Decline of Unions
Discrimination
Part Time
Minimum Wage
Test on Chapter 8 |
Ch 8 S 1
Ch 8 S 2
Ch 8 S 3
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p. 198 # 2, 3, 4,
8, 9
p. 213 # 2, 4, 6
p. 221 # 2, 3, 4, 5,
7
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The Government Sector
Taxation
Economic Impact
A "Good Tax"
Types of Taxes
Proportional
Progressive
Regressive
Federal Taxes
Income Taxes
Payroll Taxes
Corporate Income Taxes
Other Taxes
State and Local Taxes
Tax Reform
Value Added Tax
Flat Tax
Test on Chapter 9
Government Spending
Economic Impact
Federal Spending
Budget Process
Major Categories
State and Local Spending
Balanced Budget Amend.
Major Categories
The National Debt
Test on Chapter 10 |
Ch 9 S 1
Ch 9 S 2
Ch 9 S 3
Ch 10 S 1
Ch 10 S 2
Ch 10 S 3
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p. 236 # 2, 3, 4, 5,
6
p. 245 # 2, 3, 7,
8
p. 253 # 2, 3, 4,
6, 7, 8
p. 265 # 2, 3, 4,
6, 7
p. 275 # 2, 3, 4,
5, 6, 8
p. 283 # 2, 3, 4, 5,
7
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Economic
Indicators
Gross Domestic Product
Included Items
Excluded Items
Limitations of Measurement
National Income
Personal Income
Disposable Income
Real GDP
Population Trends
Poverty, Income Distribution
Poverty Thresholds
Anti-poverty Programs
Inflation
Price Indices
Limitations
Causes
Consequences
Unemployment
Rate
Kinds
Full Employment
The Cost of Instability
GDP Gap
Misery Index
Uncertainty
Resource Usage
Political Instability
Crime and Family Values
Business Cycles
Phases
Causes
The Great Depression
Economic Growth
Standard of Living
Factors of Growth
Test on
Chapters 12 & 13 |
C 12 S 1
C 12 S2
C 12 S 3
C 13 S2
C 13 S 3
C 13 S 1
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p. 327 # 4, 5, 7, 8
p. 335 # 2, 3, 4,
5, 6
p. 345 # 2, 3, 4,
7, 8
p. 367 # 2, 3, 4, 5,
6, 7
p. 375 # 2, 3, 4,
5, 6,
7
p. 359 # 2, 3, 4, 5,
7
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Money and Banking
Functions of Money
Medium of Exchange
Measure of Value
Store of Value
Kinds of Money
Money Characteristics
Banking
The Federal Reserve
FDIC
Fractional Reserve System
Monetary Policy
Structure of the FED
Reserve Requirement
Discount Rate
Open Market Operations
Money Multiplier
Easy Money Policy
Tight Money Policy
Other Fed Responsibilities
Test on Chapters 14
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C 14 S 1
Ch 14 S 2
Ch 14 S 3
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p. 388 # 2, 3, 4, 6,
7
p. 397 # 3, 4, 5, 6
p. 407 # 2, 3, 4, 5, 6,
8
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Economic
Stabilization
Macroeconomic Equilibrium
Demand-Side Policies
Discretionary Fiscal Policy
Automatic Stabilizers
Limitations of Fiscal Policy
Supply-Side Policies
Monetary Policies
Test on Chapter 15
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Ch 15 S 1
Ch 15 S 2
Ch 15 S
3 |
p. 417 # 2, 4, 5,
6, 7
p. 427 # 2, 3, 4,
5,
7
p. 433 # 2, 3, 4,
5,
7 |
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International
Trade
Absolute Advantage
Comparative Advantage
Basis of Trade
Barriers to Trade
Tariffs
Quotas
Dumping
Protectionism
Free Trade Movement
World Trade Organization
NAFTA
European Union
Foreign Exchange Market
Trade Deficits and Surpluses
Test on Chapter
16
END OF TERM
EXAM
(CHAPTERS 8-10 & 12-16) |
Ch 16 S 1
Ch 16 S 2
Ch 16 S 3 |
p. 445 # 2, 3, 4, 5,
6, 7
p. 454 # 2, 3, 4,
5, 7, 8
p. 461 # 2, 3, 4, 5,
7 |
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COMPREHENSIVE
EXAM
(CHAPTERS 1-16 & 17.3) |
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