Economic and Political Systems

This class includes a thorough introduction to economic concepts, economic systems, and political systems.  We will cut through the confusion seen throughout society about various terms that are misunderstood and misused.  As we discuss the varieties of economic and political systems, we will examine the difficulty in accurately defining systems within most countries.

In our discussion of economic concepts, we will cover supply and demand (including absolute vs. comparative advantage), markets, labor, regulation, capital, equity, commodity, barter, nationalization, tariffs, embargo, boycott, bubbles, cartels, inflation, recession, depression, growth, and GDP--this list is not exhaustive.

In our discussion of economic systems, we will examine past and present forms of capitalism, socialism, and mixed economies, focusing on property ownership, regulation, market control, and the types of decisions that determine priorities in production.

In our discussion of political systems, we will examine the many forms of Democracy, along with non-democratic systems which utilize authoritarian, totalitarian, or monarchical control.  Here, we will examine several countries to flesh out the mixed systems that currently exist and have developed over time.

Finally, in our last session, we will apply what we have learned in a thought experiment aimed at predicting future economic and political forms in light of events that are likely to become major stimuli for change over time.