Description

In this semester-long class, students (ages 14 and up) will be required to read the assigned articles and chapters as well as participate in class discussions on the main economic principles and concepts presented in the text and through a multimedia presentation. This course is mixed content based on the book Whatever Happened to Penny Candy? by Richard Maybury, economic-based and current events articles, video supplements, and integrated activities.

Class discussion will include the following questions/topics according to the Austrian and Monetarist schools of economic theory:

● Worldviews; Author Viewpoints & Beliefs; What is Economics? Why Study Economics? Juris
Naturalism; Principles of Economics: Supply and Demand

● Clad Tokens vs. Coins; Welfare vs.
Subsidy; Clipping Coins and Reeding, Gresham’s Law

● Inflation; Characteristics of Good Money;
Federal Reserve Notes vs. Silver Certificates; Legal Tender; Law/ Fiat Money;
TANSTAAFL

● Governments; Economic Systems &
Controls; Monopolies: Price Gouging; Reasons for Inflation- Democracy vs.
Dictatorship; Revolutions; Beware the LIE

● Business Cycle; Recessions; Depressions;
Deflation; Velocity and Demand for Money; Stages of Inflation; Hyper-inflation;
Monopolies & Competition

● Seen and Unseen in Economic Practices
Today; Minimum Wage; Labor Unions

● Producers vs. Consumers; Types of
Economic Systems and Production; Developed vs. Developing Countries;
Specialization of Labor; Opportunity Cost

● Boom/Bust Cycle; Investments; Assets and
Liabilities; Scarcity; Compound Interest; Fractional Banking

● You can’t consume more than you produce: personal and national debt; Government
Expenditures: discretionary vs. mandatory spending; Debt ceiling and deficit;
Bankruptcy Law; Public Debt: Citizen vs. Taxpayer; Infrastructure

● Private and Public Sectors; National
Macroeconomic Objectives & Microeconomics; NAFTA/ USMC

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