Economics 101


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:

  • The Link for “live stream” is
  • A recording for the beginning of each class (TO INCLUDE THE JOURNAL QUESTION) will be posted.
    That recording WILL include entire lectures, activities, or projects, but NOT quizzes, tests, etc.
  • While lectures will be recorded and streamed, the PPT and PDF versions of each PPT is also available on the schedule.
  • Direct any questions to CPT Curtis at

Economics – A Day Schedule – Spring 2020

Wednesday, Jan 20 – Classroom Orientation / Disclosure (DUE Jan 25)

Friday, Jan 22 – Shark Tank Intro

Monday, Jan 25Day 1 – Introduction to Economics

Wednesday, Jan 27Day 2 – Scarcity, Want and Needs

Monday, Feb 1Quiz – Econ Basics / Scarcity

Wednesday, Feb 3Day 3 – Economic Systems

Friday, Feb 5 – Island Survivor Activity

Monday, Feb 8Study Guide – Econ Basics  (DUE Feb 17)

Wednesday, Feb 10 – Finish Study Guide / Jeopardy / Test Prep

Presidents’ Day Feb 15

Wednesday, Feb 17TEST – Econ Basics / Extra Credit Article

Friday, Feb 19Day 1 – Price Cost and Money

Monday, Feb 22Cookie Value Activity  (DUE Mar 1)

Wednesday, Feb 24Day 2 – Supply and Demand

Monday, Mar 1Supply and Demand Worksheet (DUE Mar 5)

Wednesday, Mar 3Day 3 – Determinants of Supply and Demand

Friday, Mar 5Shark Tank Groups, Products, & Names

Monday, Mar 8Study Guide – Supply and Demand  (DUE Mar 15)

Wednesday, Mar 10 – Finish Study Guide / Jeopardy / Test Prep

Monday, Mar 15TEST – Supply and Demand / Extra Credit Article

Wednesday, Mar 17Shark Tank Prep

End Term 3 (20 Days)


Monday, Mar 22Shark Tank Prep

Wednesday, Mar 24Shark Tank Prep

Friday, Mar 26 – Focus Group Activity (For In-Person Only)

Monday, Mar 29 – Final Shark Tank Prep

Wednesday, Mar 31 – SHARK TANK


Monday, Apr 12Day 1 – Government Interventions

Wednesday, Apr 14Day 2 – Debt and Deficit

Friday, Apr 16 – Shark Tank AAR (ONLY FOR THOSE IN PERSON)

Monday, Apr 19Quiz – Gov’t and Debt

Wednesday, Apr 21Day 3 – Failures – Market and Government

Monday, Apr 26Study Guide – Gov’t and Econ (DUE Apr 30)

Wednesday, Apr 28 – Jeopardy / Test Prep

Friday, Apr 30TEST – Government and Economics / Extra Credit Article – National Debt

Monday, May 3Day 1 – Macroeconomics

Wednesday, May 5Day 2 – GDP

Monday, May 10QUIZ – Macroeconomics

Wednesday, May 12Day 3 – Labor Force

Friday, May 14Study Guide – Macroeconomics  (DUE May 19)

Monday, May 17 – Jeopardy / Test Prep

Wednesday, May 19TEST – Macroeconomics (OPEN NOTE + Study Guide)

Monday, May 24Ten Rules for Life (Final Lesson)

Wednesday, May 26 – Class Party / Final Day to turn in work

Friday, May 28 – LAST DAY OF SCHOOL / Graduation

End Term 4 / Semester 2 (22 Days)

Direct any questions to CPT Curtis at