This course conducts a general study of the history of economics by examining specific economic thinkers and the economic development of the United States and its institutions. Institutions influence our nation's economic system, culture, political process, conflict resolution mechanisms, financial systems, and labor/management boards to name a few. Due to changes in these institutions and our nation's laws over time as a product of historical events and periods, the economy differs in terms of efficiency, growth potential, and equity in allocating resources. The first course block examines, compares, and contrasts a variety of history's prominent economic thinkers and their philosophies from Adam Smith to modern economists. It explores how we think about economics in terms of historical context and theory. The second course block conducts an overview of the United States economy and its development through the historical context and lens of significant events and distinctive periods of American history starting with the colonies and ending with contemporary challenges facing the country. This block explores how the US government has taken deliberate steps to adjust the capitalist economic system. Included are examinations of efforts to promote economic growth, the causes and impacts of significant economic events, and steps taken to stabilize and reform the economies of nations following major military conflicts. A small part of the block is devoted to war financing. By examining these significant changes or turning points in our nation's history, cadets can better apply economic models to the events or periods to help understand the current relevance of the material.
Lessons
30 @ 75 min (2.000 Att/wk)
Labs
0 @ 0 min
Special requirements
One critical book review (1250 words); small group in-class presentations; compensatory time provided.
