ECON 246: Intro to Business & Economics

This one semester class introduces students to the basics of how the economy and a business works. The goal is for students to obtain sufficient literacy in these areas such that they can read the Wall Street Journal and understand what makes a business successful. The first quarter takes students through an introduction of macro-economics. The focus is on understanding how the economy works, without getting into complicated formulas. We start with understanding how the entire economy is driven by human needs, and hence good business is, at essence, a service. From this understanding we explore the role of money, the banking and Federal Reserve systems, and the stock and bond market. Then, starting in the second quarter, we shift focus to running a business. We start with the basic strategies and value propositions of various types of business, and then delve into understanding management, financial statements, and finish with a bit on excel and personal finance. Team-completed case challenges are used in the second half of the course, with the goal that students dive into the practical realities of making business and leadership decisions as part of a team.