Principles & Precepts Economics

Concluding with the profound observation, America is a great nation and people are needed to practice, protect and promote economic liberty, this course introduces students to the history of economic thought, and modern economic issues currently facing America, before family economics, entrepreneurship and power of education are explored.

This is a first semester course, one semester in length. The full course kit contains 3 Texts, 3 Activity books and the Teacher's Resource Kit (TRK), along with the TRK digital download. Designed for independent study, each text, called a chapter, cover fifteen topics. Each text contains the lesson reading, bold vocabulary words with definitions in a vocabulary "box" on the page, life principle quotes and video clips via a QRC codes. Corresponding activity books provide questions for each topic. Questions are fill in the blank and matching, with lines to write the life principle. Key topics include free enterprise, private property, risk, debt, profit, government regulation, inflation, depressions, as well as investment losses and gains.

The Teacher's Resource Kit includes black line masters for section quizzes (9), chapter tests (3), quiz and chapter test answer keys, activity answer keys, and the table of contents. Black line masters are reproducible for classroom use.

Chapter 1 introduces students to economics as the engine by which capitalism, free enterprise, private property and the relationship between employees, employers, and entrepreneurs create jobs. Additionally, this chapter also explores government regulation, supply and demand, and economic factors such as taking risks, investments and profit and loss. The evolution of economic precepts and principles, from ancient Greece, Rome, Europe and the Dark Ages are explored. Historical persons that shaped modern economic theory are presented including Moses, Thomas Jefferson, Benjamin Franklin, Karl Marx, Joseph Stalin, William Penn, Winston Churchill, Margret Thatcher, and Ronald Reagan. This chapter also delves into the Industrial Revolution, World Wars I and II, and the Cold War, and their impact on economics. Worth mentioning, the impact of an economy based on Biblical principles is discussed for its historical value and includes a look at Marxism and Darwinian theory. Chapter 2 further explores the history of the Judeo-Christian and European influences that were foundational to the capitalism in the United States. The authors compare the historical teachings of Catholic and Ana-Baptist beliefs and provide a brief overview of the Protestant reformation and the influences of the Church on economic philosophy. This is done neutrally with no scripture verse support or proselytizing noted. An in-depth look is given to the economic significance of the US Constitution, Mayflower Compact and the Bill of Rights. Students will briefly examine the impact of the industry, railroads, progressive education, unions, the New Deal, welfare, immigration, private organizations and "trickle-down economics." Chapter 3 reviews contemporary economic issues including banking, creditors, credit cards, checking accounts, debt, impulse buying, mortgages, dividends, stock market, collateral, loans, bankruptcies, insurance, real estate, gross and net income, inflation, IRAs and 401Ks, tax audits, and much more. Students are also introduced to the pros and cons of starting and operating a small business, along with post high school options: college, trade school, and military.

A captivating look at the foundations of economic philosophy that will appeal to students-especially those without a desire to study the math and deeper theories of economic thought. All texts and activity books are softcover. ~Deanne