This unit introduces different economic systems and explores the complex relationship between these systems and businesses. It concentrates on the functions of macroeconomics in relation to economic growth, unemployment, inflation and fiscal policies, and microeconomics in relation to supply and demand. This unit rounds out with a brief look at current trends in the business and economic environment.
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Learning Objectives
Name main global economic systems
Identify the relationship between businesses and the economic systems in which they operate
Explain the key aspects of macroeconomics and microeconomics and how they relate to business
Detail current trends influencing how businesses operate within their economic systems
Major Topics
Global economic systems
The roles of businesses and governments in economic systems
Macroeconomics/Microeconomics
Current trends in economic systems and business
Readings & AssignmentsÂ
Read pp. 21-58 in Chapter 1 in Introduction to Business
Complete Concept Checks on pp. 28, 37, and 43
What Students Know
This is the first class for the week and is meant to be an intro-level class on economics and business; students will have varying levels of knowledge about this topic
Students will have read the economics section of Chapter 1 in Introduction to Business (OpenStax, pp. 21-58) and completed the assignments listed above
On Sunday, students attended the following fellow-led classes
Business 101
Case Study 101
Group Dynamics
Public Speaking
Faculty Role
Faculty provide a core service in our academic boot camps by ensuring that WSP participants experience a college-level course in a real-life setting. This experience helps to instill confidence and prompt motivation to pursue higher education. Your role, ultimately, is to be yourself; to share your expertise with participants and to run the class like you would with traditional college students. We highly encourage you to find ways to connect with participants and to share any advice you have for them as they transition from military service to higher education.
Note: The following are broad guidelines and not meant to be prescriptive. All units are flexible so that faculty can teach to their expertise and highlight important and interesting aspects of their work. Keep in mind the reading that students will have done for the day.
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