Bethel University

1. Principles of Economics

Text: “Essentials of Economics” (9th edn.) by, N. Gregory Mankiw

Course Description: This course includes an examination of the role of a price system in allocating resources and income, government policies for dealing with unemployment and inflation, and moral questions raised by the free enterprise system.

This is an introductory level course in economics. Economics is the study of scarcity. We know that we have limited resources but unlimited wants. Economics essentially deals with the study of how the various economic agents (firms, households, nations etc) make choices and decisions to allocate resources to the various uses of production, consumption, and investment. The focus of the course will be not only to introduce you to the basics of economics as a discipline but as a framework to enable you to understand the world better and make informed decisions. In addition to giving you a strong understanding of basic economics theory, this course will examine some of the faith implications on the markets.

Course Objectives: Define market organization of economic activity. Illustrate the behavior of people in market organization; what do markets accomplish, what are outcomes (positive and negative). Describe and evaluate roles of government in provisioning of goods and services. Define and discuss important macro-economic measures. Examine the concept of money and the working of the monetary system.

2. Personal Finance

Text: “Mastering Personal Finances, A Biblical Approach”", by Ron Blue and Boyce Smith.

Course Description: This course is an in-depth study of the biblical view of making and managing money and possessions. The course coaches and trains you in the application of planning tools and processes that lead to true financial freedom. You will learn to be a faithful manager of the resources that God has entrusted to each of us.

Course Objectives: Upon completion of this course you should be able to:

1. Describe a biblical worldview of making and managing money
2. Apply the financial planning tools and processes necessary to achieve true financial freedom.