Week 1: Introduction to Economics
- Topics:
- What is Economics?
- Scarcity and the Factors of Production
- Opportunity Cost and Trade-offs
- The Basic Economic Problem: Unlimited Wants, Limited Resources
- Microeconomics vs. Macroeconomics
- Learning Activities:
- Reading: Introduction to Economic Concepts
- Discussion: Real-life examples of scarcity and choice
- Assignment: Opportunity Cost Analysis of a Personal Decision
Week 2: Economic Systems
- Topics:
- Types of Economic Systems: Traditional, Command, Market, and Mixed Economies
- How Economic Systems Answer the Three Basic Economic Questions
- Comparative Economic Systems: Case Studies
- The Role of Government in Different Economic Systems
- Learning Activities:
- Reading: Different Economic Systems
- Group Activity: Comparing Economic Systems of Various Countries
- Assignment: Essay on How Different Economic Systems Address Scarcity
Week 3: Supply and Demand
- Topics:
- The Law of Demand and The Law of Supply
- Market Equilibrium and Price Mechanism
- Shifts in Supply and Demand Curves
- Elasticity of Demand and Supply
- Government Price Controls: Price Ceilings and Price Floors
- Learning Activities:
- Reading: Supply and Demand in the Marketplace
- Simulation: Shifts in Supply and Demand Curves
- Assignment: Analyze Market Equilibrium Using Real-World Data
Week 4: Market Structures
- Topics:
- Perfect Competition and Monopolistic Competition
- Monopoly and Oligopoly
- Market Failures: Externalities and Public Goods
- The Role of Competition in Market Efficiency
- Learning Activities:
- Reading: Types of Market Structures
- Discussion: Case Studies of Monopolies and Oligopolies
- Assignment: Compare and Contrast Market Structures
Week 5: The Role of Government in the Economy
- Topics:
- Government Intervention: Taxes, Subsidies, and Regulation
- Addressing Market Failures: Public Goods and Externalities
- Income Distribution and Welfare Programs
- Fiscal Policy and Its Impact on the Economy
- Learning Activities:
- Reading: Government Intervention in the Economy
- Case Study: Analyzing the Effects of Government Regulation on an Industry
- Assignment: Report on the Impact of a Government Policy (e.g., minimum wage, tax cuts)
Week 6: Introduction to Macroeconomics
- Topics:
- Gross Domestic Product (GDP) and National Income Accounting
- Business Cycles: Expansion, Recession, and Recovery
- Unemployment: Types and Measurement
- Inflation: Causes, Measurement, and Consequences
- Learning Activities:
- Reading: Macroeconomic Indicators
- Quiz: Identifying Phases of the Business Cycle
- Assignment: Research Report on Inflation in a Specific Economy
Week 7: Money, Banking, and Monetary Policy
- Topics:
- The Role of Money in the Economy
- The Banking System and Money Creation
- The Federal Reserve and Monetary Policy Tools
- Inflation vs. Deflation: The Role of Central Banks
- Learning Activities:
- Reading: The Role of Central Banks in the Economy
- Simulation: How Interest Rate Changes Affect the Economy
- Assignment: Case Study on the Impact of Monetary Policy
Week 8: International Trade and Finance
- Topics:
- The Importance of International Trade
- Comparative Advantage and Specialization
- Trade Barriers: Tariffs, Quotas, and Trade Agreements
- Exchange Rates and the Foreign Exchange Market
- Learning Activities:
- Reading: The Basics of International Trade
- Discussion: The Benefits and Drawbacks of Globalization
- Assignment: Analyze the Impact of Trade Policies on a National Economy
Week 9: Economic Growth and Development
- Topics:
- Determinants of Economic Growth
- The Role of Technology, Capital, and Innovation in Growth
- Challenges to Economic Growth in Developing Countries
- Measuring Economic Development: HDI, Gini Coefficient
- Learning Activities:
- Reading: Economic Growth and Development
- Group Activity: Factors Contributing to Economic Growth in Different Regions
- Assignment: Case Study on a Developing Economy
Week 10: Environmental Economics
- Topics:
- The Economics of Natural Resources
- Sustainable Development and Environmental Protection
- The Economics of Climate Change
- Market-Based Solutions to Environmental Problems
- Learning Activities:
- Reading: Environmental Economics
- Discussion: Policies for Sustainable Economic Growth
- Assignment: Research on Carbon Pricing or Cap-and-Trade Systems
Week 11: Labor Markets and Income Distribution
- Topics:
- Labor Supply and Demand
- Wage Determination and Labor Unions
- Inequality of Income and Wealth Distribution
- Policies to Address Income Inequality
- Learning Activities:
- Reading: The Economics of Labor Markets
- Group Activity: Debate on the Minimum Wage
- Assignment: Report on Wage Disparities in a Selected Industry
Week 12: Review and Final Exam
- Topics:
- Comprehensive Review of Key Economic Principles
- Review of Key Concepts: Microeconomics and Macroeconomics
- Final Exam: Multiple Choice and Essay Questions Covering Course Material
- Learning Activities:
- Group Review: Interactive Q&A Sessions
- Practice Exam: Mock Test to Prepare for Final Assessment
- Assignment: Final Exam and Reflection on Economic Learnings
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