Economics 101

Economics

Economics is, in a nutshell, the study of how we use limited resources to satisfy unlimited wants and needs. The problem of scarcity, then, is not only an Economic one, but a world one. Economics Matters!

This course introduces Cadets to the basic Economic concepts in both Microeconomics and Macroeconomics. These topics are split into 5 units –

Unit 1 – Economic Beginnings, Basics, and Scarcity
Unit 2 – Consumer Economics / Supply and Demand
Unit 3 – Business, Labor, and Market Structure*
Unit 4 – The Governments Role in Economics
Unit 5 – Macroeconomics and the World Economy

* In lieu of a test, Unit 3 will culminate in “UMA Shark Tank” in which Cadets will, in groups, present a business proposal in front of a panel of “sharks.” This is a MANDATORY attendance activity for the course, and missing is equivocal to skipping a test.

A few key reminders:

  • CLICK HERE FOR ZOOM LINK FOR LIVE-STREAM CLASSES
  • The beginning of each class (with daily objectives and journal question) will be recorded for EACH DAY (and uploaded to the calendars). PAST DATES WILL SHOW UP AS LINKS, WHICH WILL GIVE YOU THOSE VIDEOS
  • For lecture days, the entire lecture will also be recorded and uploaded, for Cadets who prefer that to reading the PDF or print-outs themselves.

ECONOMICS – Fall 2022* (Terms 1 & 2)

Monday, Aug 22 – Classroom Orientation / Disclosure (DUE Aug 26)

Wednesday, Aug 24 – NOTES – Day 1 – Introduction to Economics

Friday, Aug 26Island Survivor PPT / Game Tiles /

Wednesday, Aug 31Quiz – Econ Basics / Scarcity

Wednesday, Sep 7 – NOTES – Day 3 – Economic Systems

Friday, Sep 9Study Guide – Econ Basics (DUE Sep 14)

Monday, Sep 12 – Jeopardy / Review For Test

Wednesday, Sep 14TEST – Econ Basics / Extra Credit Article

Monday, Sep 19 – NOTES – Day 1 – Price Cost and Money

Wednesday, Sep 21Cookie Value Activity (DUE Sep 26)

Friday, Sep 23 – NOTES – Day 2 – Supply and Demand

Monday, Sep 26Supply and Demand Worksheet (DUE Sep 28

Wednesday, Sep 28Quiz – Price, Cost, Supply, Demand

Monday, Oct 3 – NOTES – Day 3 – Determinants of Supply and Demand

Wednesday, Oct 5Study Guide – Supply and Demand (DUE Oct 10)

Friday, Oct 7 –Jeopardy / Review For Test

Monday, Oct 10TEST – Supply and Demand / Extra Credit Article

Wednesday, Oct 12 – Shark Tank Intro (Watching and Evaluation Episode)

Monday, Oct 17 – Shark Tank Group and Idea Forming (Test Make-Ups)

Wednesday, Oct 19 – NOTES – Business Motivation

End Term 1 (21 days)

 

Monday, Oct 24Shark Tank Work (Handout 1)

Wednesday, Oct 26Shark Tank Work (Handout 2)

Monday, Oct 31Shark Tank Work (DUE Nov 9)

Wednesday, Nov 2 – Shark Tank Focus Group

Friday, Nov 4 – Focus Group AAR / Shark Tank Work

Monday, Nov 7 – Final Shark Tank Prep

Wednesday, Nov 9 – UMA SHARK TANK

Monday, Nov 14 – SHARK TANK AAR (Self Reflection / Group Evaluation)

Wednesday, Nov 16 – NOTES –Day 1 – Government Interventions

Friday, Nov 18 – Catch-Up Day (half the class was missing)

Thanksgiving Break Nov 21-25

Monday, Nov 28 – NOTES – Day 2 – Debt and Deficit

Wednesday, Nov 30 – Quiz – Gov’t and Debt

Monday, Dec 5 – NOTES – Day 3 – Failures – Market and Government

Wednesday, Dec 7 – Study Guide – Gov’t and Econ (DUE Dec 7)

Friday, Dec 9 – TEST – Government and Economics (OPEN Study Guide) / Extra Credit Article

Monday, Dec 12 – NOTES – Day 1 – Macroeconomics

Wednesday, Dec 14 – NOTES – Day 2 – GDP

Winter Break Dec 19-30

Monday, Jan 2 – QUIZ – Macroeconomics and GDP

Wednesday, Jan 4 – NOTES – Day 3 – Labor Force

Friday, Jan 6 – TEST – Macroeconomics (OPEN NOTE) / Extra Credit Article

Monday, Jan 9 – CPT Curtis 10 Rules for Life (Final Lesson))

Wednesday, Jan 11 – TBD (Class Party?)

End Term 2 / Semester 1 (22 days)

 

*SUBJECT TO CHANGE (Changes will be updated weekly on class website and Canvas)

Direct any questions to CPT Curtis at jcurtis@utahmilitaryacademy.org