Introduction to Economics

This course will help students to interpret economic news and economic data profoundly. At the same time students will learn to form their own insights on economic issues. This course will provide a solid foundation for students who wish to study advanced economics in the future.

Designed For

Level

Class Format

Class Schedule

Tutor Intro

Teacher S — Dean of the Department of Social Sciences in a top American university 

  • He is currently teaching IB Economics at a top American high school. He has nearly 30 years of teaching experience in various social science subjects. The subjects he has taught include: economics, history, world geography, psychology, sociology, etc.;
  • He has extensive teaching experience in both AP and Ib curriculums. While serving as an AP/IB curriculum specialist in the school district, he was responsible for teacher training and supervise the school district’s teaching plans;
  • Receive teaching certificates in AP Macroeconomics, AP Microeconomics, AP Psychology, AP U.S Government, AP Comparative Government, AP Art History. He has also taught IB Economics, IB Psychology, IB Art History;
  • He served as the dean of the social science department of a top public high school for many years, responsible for the curriculum development and collaboration with social science teachers in the school district;
  • Graduated from Rice University, one of the top universities in the United States, with a bachelor’s degree in philosophy and sociology, and a certificate in Social Science Education from Rice University.
  • While at Rice University, he oversaw the univesrity’s AP Teaching Center, and served as AP World History and AP Macroeconomics teacher.
Class Intro

This is an introductory course that covers important concepts in both microeconomics and macroeconomics. The primary goal is to develop your understanding of the concepts, tools, graphs, and approaches used by economists. Students will gain a better understanding of policy-making tools, market structures, the financial markets, and more. This course will help students to interpret economic news and economic data at a much deeper level, while also helping them to form their own opinions on economic issues. In addition, this course will provide a strong foundation for students who want to continue with advanced placement economics, international baccalaureate economics, and beyond. The analytical, logic, and graphing knowledge will provide students with marketable skills that are highly sought after by employers and will help students in many different academic areas.

Microeconomics focuses on how individual markets work. The emphasis is on how consumers make choices and how privately-owned businesses produce goods, set wages, and earn profits. Tools of analysis include supply and demand, profit maximization in competitive and monopolistic markets, and the tradeoff between incentives and equity in policy design.

Macroeconomics focuses on principles that apply to an economic system as a whole. The course places particular emphasis on the study of national income and price-level determination. It also develops students’ familiarity with economic performance measures, the financial sector, stabilization policies, economic growth, and international economics. Students learn to use graphs, charts, and data to analyze, describe, and explain economic concepts.

Outcome

By the end of this course, students should:

  • Understand economic terminology and analysis.
  • Use supply and demand analysis to predict how businesses and consumers will respond to changing market conditions.
  • Understanding profit maximization and cost structures for businesses
  • Compare firms in different market structures – perfect and imperfect competition.
  • Understand major economic indicators: Gross Domestic Product, Unemployment, Inflation
  • Use the Aggregate Supply & Demand model to explain economic events and the economy.
  • Understand policies to promote economic growth.
  • Be ready for Advanced Placement, international baccalaureate, honors, or college economics.
Course Content

Lesson

Topics

1

Factors of Production

Production Possibilities Curve

Graphing Demand

2

Graphing Supply

Equilibrium

3

Demand Elasticity

Supply Elasticity

Other Elasticities

4

Price Floors

Price Ceilings

Subsidies

Taxes

5

Production Costs

Shutdown Point 

Perfect Competition

6

Monopolies

Oligopolies

Monopolistic Competition

7

Circular Flow Model

Business Cycle

Aggregate Expenditure

Gross Domestic Product

8

Classical Model

Keynesian Model

Short-run vs Long-run

9

Money Supply

Money Market Graph

Monetary Policy

10

Monetary Policy Revisited

Fiscal Policy

Students

Students who are in grade 8-10 who want to start learning economics.  

Feedback

After each class, the teacher will send course feedback, including course topics, homework and student progress.

Schedule

10 hours of classes, 90 minutes/class

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