This 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 individuals, households, and firms in making decisions, in a market economy and the application of this theory to contemporary issues in both domestic and global markets; and macroeconomics, the study of the performance, structure, and behavior of the whole economy including issues of national income, output, consumption, unemployment, inflation, as well as fiscal and monetary policy. In addition, the course includes instruction on personal finance, focusing specifically on major purchase decisions (home and auto), insurance, basic investing, and investing for retirement. This instruction is intended not only to improve individual financial decision-making but also to equip Cadets with the ability to address the financial issues of their future Soldiers. Cadets develop analytical tools in order to assess the economic implications of policy decisions by military and government officials and to improve their own decision-making process.
