This course is designed to help students evaluate the business skills and commitment necessary to successfully operate an entrepreneurial venture while reviewing the challenges and rewards of entrepreneurship. Students will learn about themselves, their decisions, and their goals to determine how entrepreneurship can play a role in their lives. Students will be introduced to entrepreneurship from an economic perspective.
Upon successful completion of this course, the student will have reliably demonstrated the ability to:
- discuss examples of current entrepreneurs, their companies, and their importance to the US and global economies
- research and evaluate the personal attributes and skills that characterize the “successful” entrepreneur
- compare their personal characteristics and interests to that of the “successful” entrepreneur
- identify and assess sources of support for small businesses and entrepreneurs
- identify the critical factors that are used to identify business start-up ideas – including forms of ownership
- identify the financial, marketing, legal, human resource, operations, and general management skills that are necessary to successfully launch and operate a successful new venture
- identify the critical concepts of business planning that are used to: increase the chances for business success, seek out financing sources; and develop a “blueprint” for a new venture.
Unit 1 What is Economics?
Unit 2 Free Enterprise in the US
Unit 3 Demand
Unit 4 Supply
Unit 5 Market-Clearing Price
Unit 6 Consumers, Savers & Investors
Unit 7 Free Enterprise
Unit 8 Financing a Business
Unit 9 Production & Productivity
Unit 10 The US Labor Force
Unit 11 Competition
Unit 12 Government and US Econ
Unit 13 Financial Institutions
Unit 14 Economic Stability
Unit 15 International Trade
Unit 16 Our Global World
Other topics Investigated
- The role of entrepreneurship and small business
- The Small Business Decision
- Personality characteristics of successful entrepreneurs
- Individual assessment of interests, skills, and personality traits
- Advantages and disadvantages of small business ownership
- Evaluation of a New Business Opportunity
- Critical factors for success
- Sources of ideas for new ventures
- Researching the opportunities
- Developing the Business Plan
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