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{{HonorSubpage}}

<section begin=Body />

<b>1. <section begin=req1 /><noinclude></noinclude>What is economics and how does it directly affect our lives?
<noinclude></noinclude><section end=req1 /></b>

<b>2. <section begin=req2 /><noinclude></noinclude>Define:
<noinclude></noinclude><section end=req2 /></b>

:<b>a. <section begin=req2a /><noinclude></noinclude>Macroeconomics
<noinclude></noinclude><section end=req2a /></b>

:<b>b. <section begin=req2b /><noinclude></noinclude>Microeconomics
<noinclude></noinclude><section end=req2b /></b>

<b>3. <section begin=req3 /><noinclude></noinclude>Define the following economy measures and know the most recent data for your country:
<noinclude></noinclude><section end=req3 /></b>

:<b>a. <section begin=req3a /><noinclude></noinclude>Exchange rate
<noinclude></noinclude><section end=req3a /></b>

:<b>b. <section begin=req3b /><noinclude></noinclude>Gross domestic product
<noinclude></noinclude><section end=req3b /></b>

:<b>c. <section begin=req3c /><noinclude></noinclude>Median income
<noinclude></noinclude><section end=req3c /></b>

:<b>d. <section begin=req3d /><noinclude></noinclude>Gross national product
<noinclude></noinclude><section end=req3d /></b>

:<b>e. <section begin=req3e /><noinclude></noinclude>Interest rate
<noinclude></noinclude><section end=req3e /></b>

:<b>f. <section begin=req3f /><noinclude></noinclude>External debt
<noinclude></noinclude><section end=req3f /></b>

:<b>g. <section begin=req3g /><noinclude></noinclude>Inflation rate
<noinclude></noinclude><section end=req3g /></b>

:<b>h. <section begin=req3h /><noinclude></noinclude>Unemployment
<noinclude></noinclude><section end=req3h /></b>

:<b>i. <section begin=req3i /><noinclude></noinclude>Balance of trade
<noinclude></noinclude><section end=req3i /></b>

<b>4. <section begin=req4 /><noinclude></noinclude>Know the history of world economy and which economic model is adopted by your country.
<noinclude></noinclude><section end=req4 /></b>

<b>5. <section begin=req5 /><noinclude></noinclude>Know the following economic theories:
<noinclude></noinclude><section end=req5 /></b>

:<b>a. <section begin=req5a /><noinclude></noinclude>Classical economics
<noinclude></noinclude><section end=req5a /></b>

:<b>b. <section begin=req5b /><noinclude></noinclude>Marxian economics
<noinclude></noinclude><section end=req5b /></b>

:<b>c. <section begin=req5c /><noinclude></noinclude>Neoclassical economics
<noinclude></noinclude><section end=req5c /></b>

:<b>d. <section begin=req5d /><noinclude></noinclude>Keynesian economics
<noinclude></noinclude><section end=req5d /></b>

<b>6. <section begin=req6 /><noinclude></noinclude>Know the economic cycles facing your country.
<noinclude></noinclude><section end=req6 /></b>

<b>7. <section begin=req7 /><noinclude></noinclude>Describe the direct relationship between economics and politics.
<noinclude></noinclude><section end=req7 /></b>

<b>8. <section begin=req8 /><noinclude></noinclude>Know how your country's economy is structured.
<noinclude></noinclude><section end=req8 /></b>

<b>9. <section begin=req9 /><noinclude></noinclude>Know how the economy of a country can affect the delay or progress of the preaching of the gospel.
<noinclude></noinclude><section end=req9 /></b>

<b>10. <section begin=req10 /><noinclude></noinclude>Describe at least three biblical records of economic activities.
<noinclude></noinclude><section end=req10 /></b>

<section begin=challenge />
<b>11. <section begin=req11 /><noinclude></noinclude>Complete one of the following activities:
<noinclude></noinclude><section end=req11 /></b>

:<b>a. <section begin=req11a /><noinclude></noinclude>Visit a stock exchange and know how it works.
<noinclude></noinclude><section end=req11a /></b>

:<b>b. <section begin=req11b /><noinclude></noinclude>Interview an economist or administrator and describe how they can assist with the economic principles of the club/unit.
<noinclude></noinclude><section end=req11b /></b>
<section end=challenge />
<section end=Body />

<noinclude>[[Category:Honor Requirements|{{#titleparts:{{PAGENAME}}|1|2}}]]
[[Category:Honor Requirements Revision 3|{{#titleparts:{{PAGENAME}}|1|2}}]]
<noinclude></noinclude>

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AY Honors/Basic Economics/Requirements/en - Revision history

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