200

In this course, students will describe the use of economics in business from a biblical perspective. They will have the opportunity to explain the interaction of supply and demand as well as demand-elasticity. Throughout the course, students will be challenged to identify the causes and effects of externalities, explain a firm's cost of production, and classify markets according to their structure and level of competition. Core ideas that make up the economic way of thinking will be explained from a global perspective.

An introduction to the principles essential to an understanding of fundamental economic problems and the policy alternatives to contend with these problems. A special emphasis is placed upon macroeconomics topics including national income, employment, fiscal policy, money, monetary policy, and American economic growth. Not recommended for any major in the Business Division.

An introductory survey of microeconomic theory and the principles essential to an understanding of human action within the context of exchange relationships. Emphasis is placed upon the decisions of individuals, households, and firms within a dynamically competitive market process, and the institutional structures that affect those relations. Topics include exchange, scarcity and trade, comparative advantage, division of labor, supply an demand, price signals and price controls, externalities and public goods, competition, monopoly, and market structure, markets for the factors of production, and determinants of income inequality and poverty. This course meets the IDoE Economics State Standards and required standards from the National Council for the Social Studies.

An introductory survey of macroeconomic theory emphasizing how the U.S. economy works as well as the role and influence of the U.S. economy in global markets. Topics include national income accounting, circular flow, short-run and long-run models of the economy, labor productivity and economic growth, inflation and unemployment, money, monetary and fiscal policy, and competing theories of the business cycle. This course meets IDoE Economics Standards' requirements and required standards from the National Council for the Social Studies.

An analysis of the past and present of various political-economic systems and their implications for the present economy. Systems examined include feudalism, mercantilism, socialism, communism, capitalism, welfare, and interventionism. Prerequisite: ECO-211 or ECO-213.

An interdisciplinary analysis of one of the most publicized issues in America. Discussed are the roots and history of poverty, alleged solutions, and the social and economic consequences of these solutions. Emphasized are the discovery and application of solutions from a Biblical perspective. Prerequisite: ECO-211, ECO-212 or ECO-213.