Economics 101 (1st Semester 2020)


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 A5 – A Day Schedule – Fall 2020

Monday, Aug 24 – Classroom Orientation / Disclosure (DUE Aug 31)

Wednesday, Aug 26Day 1 – Introduction to Economics

Friday, Aug 28 – Island Survivor Activity

Monday, Aug 31Day 2 – Scarcity, Want and Needs

Wednesday, Sep 2Quiz – Econ Basics / Scarcity

Labor Day Sep 7

Wednesday, Sep 9Day 3 – Economic Systems

Friday, Sep 11 – Special 9/11 Lesson / Article

Monday, Sep 14Study Guide – Econ Basics (Due Sep 21)

Wednesday, Sep 16 – Jeopardy / Test Prep / Finish Study Guide

Monday, Sep 21TEST – Econ Basics / Extra Credit Article

Wednesday, Sep 23Day 1 – Price Cost and Money

Monday, Sep 28Cookie Value Activity (DUE Oct 2)

Wednesday, Sep 30Day 2 – Supply and Demand

Friday, Oct 2QUIZ – Price, Supply, and Demand

Monday, Oct 5Day 3 – Determinants of Supply and Demand

Wednesday, Oct 7Study Guide – Supply and Demand (DUE Oct 14)

Monday, Oct 12 – Jeopardy / Test Prep

Wednesday, Oct 14TEST – Supply and Demand / Extra Credit Article

Fall Break Oct 15-16

Monday, Oct 19 – Shark Tank Intro / Group Forming (ONLINE SHARK TANK)

Wednesday, Oct 21 –  Shark Tank Work

End Term 1 (20 days)


Monday, Oct 26Shark Tank Work

Wednesday, Oct 28Shark Tank Work

Friday, Oct 30 – Focus Group Activity (For In-Person Only)

Monday, Nov 2 Shark Tank Work

Wednesday, Nov 4UMA Shark Tank – Fall 2020 Schedule

Monday, Nov 9Day 1 – Government Interventions

Wednesday, Nov 11Day 2 – Debt and Deficit

Friday, Nov 13Shark Tank AAR (DUE Nov 16)

Monday, Nov 16Quiz – Gov’t and Debt

Wednesday, Nov 18Day 3 – Failures – Market and Government


Monday, Nov 30Study Guide – Gov’t and Econ (DUE Dec 4)

Wednesday, Dec 2 – Jeopardy / Test Prep

Friday, Dec 4TEST – Government and Economics / Extra Credit Article – National Debt

Monday, Dec 7Day 1 – Macroeconomics

Wednesday, Dec 9Day 2 – GDP

Monday, Dec 14QUIZ – Macroeconomics

Wednesday, Dec 16Day 3 – Labor Force

Friday, Dec 18Holiday Activity (12 Days of Christmas)


Monday, Jan 4Study Guide – Macroeconomics (DUE Jan 11)

Wednesday, Jan 6 – Jeopardy / Test Prep

Monday, Jan 11TEST – Macroeconomics

Wednesday, Jan 13 – Ten Rules for Life (Final Lesson)

End Term 2 / Semester 1 (22 days)

Direct any questions to CPT Curtis at