Economics for Beginners: Principles and Applications

Course Description

This course provides an introduction to the world of economics. Through interactive lectures and immersive activities, we will explore the basic principles of microeconomic and macroeconomic analysis, and issues of economic policy. We will explore the basic principles of microeconomics and economic decision-making, including topics such as opportunity cost, demand and supply, market structures, and market failures. We will also look into macroeconomic principles to understand the problems an economy must face – ensuring economic growth, maintaining stable prices, and ensuring employment – and the economic institutions that make the U.S. economy work, such as the government and the Federal Reserve.

We will use real-world examples, case studies, and actual economic data to understand current economic debates and applications of economic policy. You will gain the economic literacy required to understand the world around you and develop critical thinking, problem-solving, and analytical skills applicable to real-world economic issues.

Learning Outcomes:

  • Understand fundamental economics concepts and vocabulary such as opportunity costs, demand, supply, elasticity, competition, externalities, GDP, economic growth, inflation, unemployment, monetary policy, fiscal policy, budget deficits, etc.
  • Apply fundamental economic concepts to the analysis of market and non-market outcomes.
  • Understand how economic institutions and economic policies work to address microeconomic and macroeconomic challenges.
  • Critically think about an economic problem using reasoning, data, and theory.
After taking this introductory class, you will be equipped to pursue courses in economics that delve more deeply into the concepts and topics covered.


Curiosity, willingness to learn, and preferably, some high school algebra (solving equations with one unknown, basic mathematical operations).


One Section Available to Choose From:

Online sections of Pre-College courses are offered in one of the following modalities: Asynchronous, Mostly asynchronous, or Blended. Please review full information regarding the experience here.

Dates: June 20, 2022 - July 01, 2022
Duration: 2 Weeks
Meeting Times: M-F 12:15P-3:05P
Status: Closed
Format: On-Campus
Instructor(s): Smita Ramnarain
Course Number: 10332