Complete Class: Introduction to Economics and Finance
Class Objectives:
1. Understand the basic concepts of economics.
2. Introduce the fundamental principles of finance.
3. Relate economics and finance to daily life.
1. Introduction (10 minutes)
Presentation of the Topic:
o Economics and finance are interrelated disciplines that impact our
daily decisions, from how we spend and save money to how economic
policies affect our environment.
Learning Objectives:
o Familiarize with key economic concepts.
o Understand the fundamentals of finance.
o Grasp how these concepts apply to everyday life.
2. Basic Economic Concepts (30 minutes)
A. Definition of Economics
Economics:
o The science that studies how individuals and societies manage scarce
resources to satisfy unlimited needs and wants.
o Microeconomics: Study of individual and business decisions.
o Macroeconomics: Study of a country’s overall economic behavior.
B. Basic Principles of Economics
Scarcity:
o Resources are limited compared to our infinite needs and wants,
necessitating decisions on efficient resource allocation.
Supply and Demand:
o Supply: Quantity of a good or service producers are willing to sell at
a given price.
o Demand: Quantity consumers are willing to buy at that price.
o Market Equilibrium: Point where supply equals demand,
determining price and quantity exchanged.
Opportunity Cost:
Class Objectives:
1. Understand the basic concepts of economics.
2. Introduce the fundamental principles of finance.
3. Relate economics and finance to daily life.
1. Introduction (10 minutes)
Presentation of the Topic:
o Economics and finance are interrelated disciplines that impact our
daily decisions, from how we spend and save money to how economic
policies affect our environment.
Learning Objectives:
o Familiarize with key economic concepts.
o Understand the fundamentals of finance.
o Grasp how these concepts apply to everyday life.
2. Basic Economic Concepts (30 minutes)
A. Definition of Economics
Economics:
o The science that studies how individuals and societies manage scarce
resources to satisfy unlimited needs and wants.
o Microeconomics: Study of individual and business decisions.
o Macroeconomics: Study of a country’s overall economic behavior.
B. Basic Principles of Economics
Scarcity:
o Resources are limited compared to our infinite needs and wants,
necessitating decisions on efficient resource allocation.
Supply and Demand:
o Supply: Quantity of a good or service producers are willing to sell at
a given price.
o Demand: Quantity consumers are willing to buy at that price.
o Market Equilibrium: Point where supply equals demand,
determining price and quantity exchanged.
Opportunity Cost:
