Prerequisite: Teacher recommendation
Economics (H) includes an analysis of international trade, supply and demand, market structures, government policy, money and banking, and economic performance. Students are exposed to a critique of the arguments against globalization, and study the benefits of international trade. Honors students learn the arguments for and against free trade. Students read the book, The Travels of a T-Shirt in the Global Economy, which provides an excellent practical exposition of economic principles as they relate to the travels of one product through the different stages of production. The book ties together the concepts of market structures, supply and demand, international trade, and government policies. Students are exposed to an in-depth analysis of market structures. Honors students learn the benefits of perfectly competitive markets, and the reasons the government regulates industries to maintain competitiveness. Finally, the students engage in a critical analysis of government policies to deal with economic instability.