How to Use This Course
Free Market Economics on SchoolhouseTeachers.com is taught by Savannah Liston, a homeschool graduate and teacher of several economics courses. The course is presented using video lectures and online readings. The course includes reading and writing assignments, quizzes, a midterm, and a final exam. Your student will cover topics such as natural monopolies and time preference, the process of production, equilibrium and supply/demand, and entrepreneurs and economic growth. The answers to the quizzes and exams will be released one week following the quiz or exam. The lessons should be studied in consecutive order as they build on one another in order to fully understand the subject. The course, as presented, will earn your student one-half economics credit, if all assignments and readings are completed. If essay assignments are completed along with all other assignments, this course may be counted for one full high school credit. As always, please be informed of your own state’s academic requirements.
Each week’s material will include:
- 20- to 30-minute lecture
- Reading assignments
- Writing Prompts
Details on each of these elements:
1) The lecture will introduce the primary material for the week. This should be viewed by all students participating in the class. The lecture is 20-30 minutes long.
2) Reading assignments will supplement the lecture and give the students a deeper understanding of the topic. The readings designated with an asterisk (*) are for the middle school students. The high school readings should take 45-60 minutes or more, depending on the student’s reading speed.
3) Assignments are designed to give students the opportunity to explore or apply the concepts. Again, assignments for middle school students are designated with an asterisk. These assignments should take about 30 minutes.
4) The weekly quizzes are based off the lecture and are meant to test the student’s comprehension of the definitions and concepts introduced. High school students should take the quizzes to receive credit for the course, but it is optional for middle school students. The quiz should take about 30 minutes to complete.
5) Writing prompts are for students who want to receive a full credit for the course (not just 1/2 a credit). These prompts will be released each week along with a suggested essay length. To receive a full credit, 12 of these essays should be completed. The essays should take 4-6 hours to write.
There will be a midterm review and exam in Week 11 and a final exam in Week 24.
The answer key to the quizzes and exams will be available one week following their release.
There may be optional readings which are given in case your student wants to do further research in the subject. These readings are completely optional for any students taking the course.
Although you may have different requirements for your home school, I would expect that for a high school student to successfully complete this course, they need to have viewed all the lectures, finished all the quizzes & exams, read all the assigned readings, and completed all the assignments. And for a full credit, the student should also complete at least 12 of the essay assignments.
I will provide readings and assignments that are more accessible at the middle school level. For middle school students taking the class, I would expect them to watch the lectures and do the designated readings & assignments for their level in order to successfully complete the course. The weekly quizzes and exams would be at the parents’ discretion.
Again, this is how I would use this course. As the parent, you know best what your child can and should accomplish. So these are guidelines for how to get the most out of this course, but ultimately you must determine how to use it.
Weekly lessons based on video lectures and online readings. Course includes reading assignments, writing assignments, quizzes, a midterm, and a final exam.
Week 1: Introduction, Praxeology
Week 2: Robinson Crusoe Economics
Week 3: Private Property, Value, and Direct Exchange
Week 4: Indirect Exchange and Development of Money
Week 5: Division of Labor and Specialization
Week 6: Entrepreneurship, Competition, and Monopoly
Week 7: Competition and Monopoly
Week 8: Income, Saving, and Investment
Week 9: Supply and Demand
Week 10: Interest, Credit and Debt, and Profit and Loss
Week 11: Review and Midterm Application
Week 12: Banking Theory & History – Fractional Reserve Banking and Inflation
Week 13: Part 1 – Socialism
Week 14: Part 2 – “Mixed Economy,” Part I
Week 15: Part 3 – “Mixed Economy,” Part II
Week 16: Part 4 – “Mixed Economy,” Part III (Austrian Business Cycle Theory)
American Economic History
Week 17: Part 1 – Colonial Era to Early Modern (1776 to 1890)
Week 18: Part 2 – Progressive Era (1890 to 1929)
Week 19: Part 3 – Great Depression and WWII (1929 to 1945)
Week 20: Part 4 – Post WWII to current (1946 to 2014)
History of Economic Thought
Week 21: Part 1 – Austrian School
Week 22: Part 2 – Classical School
Week 23: Part 3 – Keynesian/Marxist Schools
Week 24: Review & Final Exam
This course has 24 weekly lessons. It is primarily for grades 8-12 and college prep students, but there are assignments and readings specific for middle school students as well. It is a lecture-based course with assignments, quizzes, exams, and essay prompts.
It is designed to be taken as 0.5 economics credit, if all assignments and readings are completed. If essay assignments are completed along with all the other assignments, this course could be counted for 1 credit.