This standard course presents the basic principles of economic analysis and their application to contemporary economic problems and supports the further study of economics and related disciplines in the social sciences. The course is organized into two primary branches: microeconomics, the study of the behavior of individual households and firms in making decisions, primarily through the supply and demand model related to a market economy and applying this theory to contemporary issues in both domestic and global markets; and macroeconomics, the study of the performance, structure, behavior, and decision-making of the whole economy including issues of national income, output, consumption, unemployment, inflation, as well as fiscal and monetary policy. In addition, the course covers personal financial planning decisions, with emphasis on military benefits, and anticipated life events that would be typical of a Soldier whom cadets will work with upon graduation. Cadets examine the implications of economics on national security and defense, and the use of economic analysis to improve decisions they will make as Army officers.
