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 – Spring 2023

Wednesday, Jan 18 – Classroom Orientation / Disclosure (DUE Jan 25)

Monday, Jan 23 – NOTES – Day 1 – Introduction to Economics

Wednesday, Jan 25 – Island Survivor Activity

Friday, Jan 27 – NOTES – Day 2 – Scarcity, Want and Needs

Monday, Jan 30  – Quiz – Econ Basics / Scarcity

Wednesday, Feb 1 – NOTES – Day 3 – Economic Systems

Monday, Feb 6 – Study Guide – Econ Basics (DUE Feb 10)

Wednesday, Feb 8 – Jeopardy / Review for Test

Friday, Feb 10 – TEST – Econ Basics / Extra Credit Article

Monday, Feb 13 – NOTES – Day 1 – Price Cost and Money

Wednesday, Feb 15 – Cookie Value Activity (DUE Feb 24)

Wednesday, Feb 22 – Snow Day / Late Start / Catch-Up 

Monday, Feb 27 – NOTES – Day 2 – Supply and Demand

Wednesday, Mar 1 – Supply and Demand Worksheet (DUE Mar 6) 

Friday, Mar 3 – Review Worksheet and Quiz

Monday, Mar 6 – NOTES – Day 3 – Determinants of Supply and Demand

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

Monday, Mar 13 – TEST – Supply and Demand / Extra Credit Article Shark Tank Intro (Watching and Evaluation Episode)

Wednesday, Mar 15 – Shark Tank Intro (Watching and Evaluation Episode) / Shark Tank Pitches Example

Monday, Mar 20 – NOTES – (For Shark Tank) Business Motivation

Wednesday, Mar 22 – Shark Tank Work (Handout 1)

End Term 3 (21 Days)

Monday, Mar 27 – Shark Tank Work (Handout 2)

Wednesday, Mar 29 – Shark Tank Work (DUE Apr 12)

Friday, Mar 31 – Shark Tank Focus Group

Spring Break Apr 3-7

Monday, Apr 10 – Final Shark Tank Prep

Wednesday, Apr 12 – UMA SHARK TANK

Monday, Apr 17 – SHARK TANK AAR (Self Reflection / Group Evaluation)

Wednesday, Apr 19 – NOTES – Day 1 – Government Interventions

Friday, Apr 21 – UMA Service Day (No Formal Classes)

Monday, Apr 24 – NOTES –Day 2 – Debt and Deficit

Wednesday, Apr 26 – NOTES – Day 3 – Failures – Market and Government

Monday, May 1 – Study Guide – Gov’t and Econ (DUE May 3)

Wednesday, May 3 – TEST – Government and Economics / Extra Credit Article

Friday, May 5 –NOTES – Day 1 – Macroeconomics

Monday, May 8 – NOTES – Day 2 – GDP

Wednesday, May 10 – QUIZ – Macroeconomics and GDP

Monday, May 15 – NOTES – Day 3 – Labor Force

Wednesday, May 17 – Study Guide – Macroeconomics (DUE May 19)

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

Monday, May 22 – Ten Rules for Life (Final Lesson)

Wednesday, May 24 – TBD (Class Party?)

Friday, May 26 – Last Day of School

End Term 4 / Semester 2 (20 Days)

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

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