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ECO 22550-01 BASIC ECONOMICS AND FINANCIAL CONCEPTS (ONLINE)

Course Description:

The course is designed to educate the educators at the K-12 level. The course will educate the K-12 teachers about economics in everyday life with some basic microeconomics, macroeconomics, and current economic issues to comprehend the essential knowledge as defined by the VA Standards of Learning for Economics and Personal Finance (EPF 1-10).

Economics begins with the study of how individuals, firms, and other economic agents in our society make choices. Choices are unavoidable because desired goods and services are unlimited, while resources are inevitably scarce. The course will briefly cover the role of consumers and producers in a market economy, analysis of trade-off, demand and supply, market efficiency, externalities, financial system. The course will also cover macro issues such as GDP, unemployment, inflation, fiscal and monetary policy, the role of government in a market economy and international trade. The idea is to help the teachers to build lesson plans, games to educate young minds about basic economic issues at the secondary level. The course will teach various active learning and instructional methods to educate young school students.

Course Objectives:

Ideal is if the student learns to “think like an economist.” Economist’s approach economic and other issues in a distinct way. The main purpose of this course is to train the teachers to train their students in such a way of thinking to be able to train others. The emphasis will be on understanding of concepts and problem solving so that the educators are able to communicate with young school students and present the economic lessons in a convincing manner. The objective is also to make educators aware about the available resources.

Course Learning Outcome:

• Students become familiar with various basic economic issues and communicate with their students using an effective pedagogy
• Demonstrate how to apply basic economic models and methods to analyze some local, national, global economic issues
• Facilitate critical thinking about the economic implications of current and future global economic problems, problem solving, research, communication and presentation skills
• Provide them tools and techniques how economic analysis may apply e.g., to global environmental problems and management and explain the use of policy instruments in achieving the optimal environmental quality

A copy of the syllabus is available here.

This course is offered for college credit and ten K-12 teachers may take it tuition free. Directions on how to enroll in this class as a non-degree seeking student at UVa-Wise are available here.

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