All students will acquire an understanding of key economic principles. The study of economics fosters and understanding of the management of resources in global, public, and private sectors and in individual decision making. The development of economic theories is a direct result of the economic conditions created by global trade and industrialization. Also, looking at how the industrial revolution brought about an imperialistic mentality from powerful European countries. To discuss the adapted ideas of different ISM’s and the influence that they had on other countries.
How did the Industrial Revolution change the economies of the world?
How much can business be regulated in a democratic government?
Are there limits to government activity in the economy?
How “free” should national and international trade be?
How do economic theories reflect the economic changes as a result of industrialization?
How does the disparity between classes result in the formation of Marxism/communism?