Activities will involve online use of email, threaded discussions and Web research, group projects and both group and individual peer presentations. In this course students are introduced to the principles of economies and their application to the Old and New Economies. The Old Economy is represented by Henry Ford and the Auto Industry. Students study how each of these entrepreneurs made choices that led to successful business enterprises, and generated high incomes and great wealth. Comparisons are made between the situations and choices of the two men, the structures of the industries that they helped to create, and the impact of the products of the two industries on the American Economy and way of life.
Many experts insist that the above two economies are very different.
Some go so far as to reject the use of traditional supply and demand to the new economy. These claims will be investigated. Students will also study the distribution of income and wealth in the two economies. The course will investigate the roles of the old and new economies in the growing inequality of income and wealth. Students will also receive an introduction to financial markets.