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Status

Open

Estimated Completion Time

1 segment / 16-18 weeks

Overview

Economic decisions affect us every day of our lives. Understanding economics means thinking about how scarcity, or limited resources, requires us to make choices and evaluate one option against others.

In this course, you will recognize examples of economics in your daily life. You will see how the economic choices of larger groups, like businesses and governments, affect you and others. As you progress through the course, you will recognize that the costs and benefits of choices connect individuals and groups around the world.

The purpose of this course is to help you become a smart consumer who understands the flow of an economy between individuals, businesses, governments, and the rest of the world.

Major Topics and Concepts

Segment 1:

  • Study of Economics
  • Scarcity and Choice
  • Opportunity Cost
  • Supply and Demand
  • Money
  • Wants and Needs
  • Career and Income
  • Taxes
  • Saving and Investing
  • Credit
  • Budgets
  • Entrepreneurship
  • Factors of Production
  • Business Organization
  • Market Competition
  • Marginal Cost Analysis
  • Production Possibilities
  • Business Cycle
  • Government and the Economy
  • The Federal Reserve
  • Monetary Policy and Fiscal Policy
  • Economic Goals and Measurement
  • Comparative Advantage and Trade
  • Inflation
  • Circular Flow
  • Externalities
  • Public Policy Analysis

Credits .5

Competencies

  • Macroeconomics
    Student will demonstrate an understanding of key macroeconomic concepts including the business cycle, monetary and fiscal policy, global trade, and externalities by analyzing the economic interactions between the government, its citizens, and the rest of the world.
  • Microeconomics
    Student will demonstrate understanding of the interaction between the factors of production and market forces by identifying the resources needed for producing goods and services and predicting how their cost and availability will impact supply, business profitability, and economic growth.
  • Personal Finance
    Student will demonstrate an understanding of the importance of money management, spending, credit, saving, and investing in a free market economy by creating investment and/or budget plans.
  • Supply and demand
    Student will demonstrate understanding and application of the economic concepts of supply and demand by creating and analyzing graphs.

Pre-Requisites

None

Attend a virtual open house

We offer regular online open house webinars where VLACS staff members provide parents and students with an overview of our programs and answer questions about online learning.