How to Use This Course
The Economics course by Mike Sims on SchoolhouseTeachers.com is presented in the form of reading assignments, videos, research projects, PowerPoint presentations, news stories, review questions, and self-tests. The topics your student will cover include the function of economics in various sectors of society, a study of twelve economists throughout history, and a three-part study of whether governments should intervene in markets or not. This course counts as an economics/business credit. Students who successfully complete of all twelve units (36 weekly lessons) can earn 1 academic credit. Students who complete 18 weekly lessons can earn 0.5 academic credit. As always, please check your own state’s academic requirements.
Mike Sims has provided SchoolhouseTeachers.com with a year-long economics course, the first half of which introduces and explains economics in a variety of ways—through chocolate economics, the role that piracy plays in economics, gamma ray economics (the powers endowed by economics), football economics, urban economics, Christmas budgets and the effect on the economy because of Christmas gift-giving, and ski slope economics (the concept of elasticity in relation to supply and demand).
The second half of the course focuses on “The History of Economics.” A foundation will be laid for understanding economics from a historical perspective. Twelve great names in economics history will be studied in historical order with the following goals:
1. Understand the economic and financial times in which they lived. An example: How bad was the Great Depression, what was its worldwide impact, and what did it teach the economists who lived through it?
2. To get to know the biography and personal lives of these great economists. You will find out that one of them was a homeschool tutor!
3. To find out about their major works and the contributions they made.
4. To learn the foundations of economics through a historical perspective. For instance, what did the Corn Laws do to grocery prices and the poor in a country that’s a bad place to grow corn in the first place?
Economic textbooks are typically full of jargon that doesn’t make intuitive sense. (You’re tempted to wonder: Are Pigou Taxes a penalty on people who let their hogs run free? Is the Laffer Curve a funny bend in the road?) Yet, if you’ll join us for The History of Economics, you’ll find that they make perfect sense when we meet the great minds and historical events behind the jargon—and give us greater understanding of our modern economy.
I hope you learn and enjoy!
— Mike Sims
The following books are referred to throughout the course. They are not required reading for a basic introduction to economics, but will be necessary for high schoolers wishing to earn credit. These are common textbooks that should be available at most libraries.
- Basic Economics: A Common Sense Guide to the Economy by Thomas Sowell
- Microeconomics by Roger Arnold
- Urban Economics by Arthur O’Sullivan (only needed for Unit 7)
- New Ideas from Dead Economists by Todd G. Buchholz (only needed for Unit 11)
Instruction is provided in the form of reading assignments, videos, research projects, PowerPoint presentations, and news stories; review questions and self-tests are also included
Unit 1 – Chocolate Economics (Four lessons)
Unit 2 – Pirate Economics (Four lessons)
Unit 3 – Gamma Ray Economics, Part One (Four lessons)
Unit 4 – Gamma Ray Economics, Part Two (Four lessons)
Unit 5 – Football Economics, Part One (Three lessons)
Unit 6 – Football Economics, Part Two (Four lessons)
Unit 7 – Urban Economics (Four lessons)
Unit 8 – Christmas Budgets (Two lessons)
Unit 9 – Ski Slope Economics, Part One (Four lessons)
Unit 10 – Ski Slope Economics, Part Two (Three lessons)
Unit 11 – History of Economics (Twelve lessons)
Unit 12 – Economics Fistfight (Three lessons)
This course counts as an economics/business credit. Students who successfully complete of all twelve units (36 weekly lessons) can earn 1 academic credit. Students who complete 18 weekly lessons can earn 0.5 academic credit.