Welcome to Economics! This is a one-semester course that covers the basics of the American free enterprise system and emphasizes economic reasoning skills. This course has been written specifically for distance learning. It is the equivalent of a one-semester high school economics course and covers the same material.
Like most students, you are beginning this course somewhat reluctantly. Family and friends probably respond with sympathy when you tell them you have to take an economics course. No doubt about it economics suffers from bad publicity. Ever since 19th-century economist Thomas Malthus theories earned economics the label the dismal science, people have misunderstood, ridiculed, and avoided it. Don’t let all this gloominess deter you, though. Malthus theory turned out to be wrong, anyway, and so is the label placed on economics by many who don’t know much about it.
Economics is full of ideas that you already understand and use every day. If you have ever waited for a sale to buy new clothes or have seen a matinee movie, then you know something about supply and demand. If work has ever kept you from a night out with friends, then you know about opportunity cost. If you have to budget your time, then you are familiar with scarcity. Most of the principles you will learn in this course are ones that have already affected you.
So, you may be asking, If I already understand something about economics, why take this course? A good answer is this: because economics is a tool for solving mysteries. Have you ever wondered why a dollar is worth a dollar, or what that means? Who decided how much you can buy with it? Does the federal government have gold to back up the dollar? Is inflation good or bad? What happened to Communism? Why does the government pay some farmers not to grow crops? Why do diamonds cost more than water, when I can live without diamonds but not without water?
Learning the principles of economics will help you find the answers to these questions and many more. You will know what political candidates are talking about when they discuss economic issues. You will become a better consumer and a citizen who can make intelligent and informed choices when it comes to personal and political matters.
Most importantly, learning to think like an economist will put you more in control of your life.
The required textbook for this course is:
Clayton, Gary E. Economics. Columbus, OH: McGraw-Hill Education, 2016. ISBN 978-0-02-145664-2
The online textbook must be purchased through the TTU K-12 partner bookstore, MBS Direct (see the TTU K-12 website for a link to MBS Direct). Once you make your purchase, you will receive your credentials to the online textbook and resources via email, and it may take 1-2 business days.
You must be able to submit PDF files for some assignments.
Using the Online Textbook;
You will need to have access to the online textbook and online resources for this course. Your account will be set up when you purchase the digital textbook, which can only be purchased through the TTU K-12 partner bookstore, MBS Direct. (You can find the link to the bookstore on the TTUISD website.) Once you have purchased the digital textbook, you will receive a username and password for the McGraw-Hill ConnectED website via email, and this email will come from MBS Direct.
-- Exam format: online