A study of the economic system as a whole, concentrating on the U.S. including the general structure of business in the U.S.; the creation and control of the money supply; the components of aggregate demand; recessions and inflation; the interrelated roles of government and business; and international trade and exchange are covered.
A study of market directed and mixed economies, emphasizing the American experience. The theory and facts of economic growth are covered. Emphasis is on market models and factor pricing. Alternative economic systems and current problems are surveyed. Students are expected to have a working knowledge of line graphs.
An examination of natural and cultural factors affecting production and consumption of goods and services and spatial distribution of economic activities. Location theories are stressed. The systematic approach is emphasized primarily, but consideration is given to the regional approach. People-land relationships are considered in terms of physical and socio-economic patterns.
A survey of the great ideas on which economics is based using the historical approach. The student is introduced to the concepts and tools of economics and to the relationships between economics and society. Not open as a credit elective for Business majors.