This course introduces students to the fundamental principles of economic theory and practice. Students develop a working definition of economics, undergo an extensive introduction to supply and demand and laws that relate to supply and demand. They also are exposed to the variety of political systems and their effect on economic theory including socialism, capitalism, and communism. Types of businesses are explained including sole proprietorships, partnerships, and corporations. The pros and cons of each type of organization are discussed. Other important concepts are explored including pricing, gross national product, inflation, taxation, and selected economic indicators.
The honors curriculum for this course will require college-level economics research papers as well as participation in an outside experience (e.g. an interview).
*Class receives honors weighing in SI weighted GPA and UC/CSU GPA calculations