Workshop 1. How Economists Think
In a good economics course, students learn the economic way of thinking,
rather than a definite set of conclusions. This first workshop presents
some of the key ideas that constitute an economic way of thinking.
Workshop 2. Why Markets Work
This session employs simulations and exercises to illustrate key
concepts of the market -- the foundation of a free market system
- with special emphasis on the interplay of supply and demand. Students
will learn that the laws of supply and demand are critical to understanding
not only economics, but other aspects of human behavior as well.
Workshop 3. The Government's Hand
This session explores the intervention of the government in the
free market. Classroom activities include property rights, public
policy and price controls. The government's hand often produces
surprising or unintended outcomes, and economists consider the incentives
offered, how others will react, and what the inevitable tradeoffs
will be.
Workshop 4. Learning, Earning, Saving
Learn basic personal finance and arm students with sound, practical
advice to formulate and reach their own financial goals. This session
reveals the truth about millionaires, the power of compound interest
and how investment in education pays off. A stock market simulation
illustrates investment concepts.
Workshop 5. Trading Globally
Explore the global economy - why and how nations trade with one
another. Meet some of the major players in the international market
and find out how protectionism can have unintended consequences.
Topics include where goods come from, absolute and comparative advantage,
and an introduction to the international nature of trade.
Workshop 6. The Building Blocks of
Macroeconomics
Macroeconomics looks at the economy as a whole, including inflation,
recession, unemployment, economic growth, and gross domestic product
(GDP). In this session lectures, simulations and exercises help
explain these great forces and show how they affect the lives of
everyone.
Workshop 7. Monetary and Fiscal Policy
Learn how the government controls demand with fiscal policy - affecting
tax and spending - and monetary policy - through the Federal Reserve,
interest rates, and the banking system. See how the government uses
these tools to try to bring stability to the market.
Workshop 8. Growth and Entrepreneurship
This session explores how innovation and entrepreneurship can flourish
in and enliven a free-market economy. This workshop examines what
makes countries rich, presents a class of young entrepreneurs and
a discussion of patents and copyrights, using the Napster case as
an example.
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