Economics Course Statement
This honors course is designed to deepen the students’ understanding of Biblical truths concerning stewardship, and the laws of economics operating at the micro and macro levels of the economy. Acknowledging the Lordship of Christ over all existing resources, provides the framework (Biblical worldview and the Moral Law) to properly analyze the three forms of economic systems (free-market, mixed economy, and command economy). Adopting the Christian worldview as the underlying interpretative framework enables the meaningful exposition of basic economic principles like human nature, value, and talent. After foundational pieces are properly understood, they will be employed to analyze basic economic activities as embodied in the formation of indirect exchange, the division of labor, entrepreneurship, competition, income, saving, investment, interest, credit, debt, profit and loss system, the stock market, the effects of government intervention in the economy, inflation, government debt, and the business cycle. In addition, a brief analysis of the history of economic thought from the Aristotle to the Present. The purpose of the course is to lay a foundation to equip students to accurately interpret economic data, thus enhancing the students’ ability to make wise decisions with what is rightfully the Lord’s (Psalm 24:1).