Economics as taught by Jesus is no longer the dismal science

Economics 1 Course Syllabus


Economics as taught by Jesus is no longer the dismal science

Part 1: Course Information
Instructor Information

Instructor: Paul Michael Raymond
Office Hours: To Be Announced
Contact:  503-433-7733/ E-mail:

Course Description

Basics of economic theory is presented by tracing the development of economic thinking through history, using the “Great man” approach. The course emphasizes theory as the foundation of sound  economic application. But theory is not of necessity dull when subjected to intense Biblical analysis.All required readings are provided through internet links and the textbook: Productive Christians In  An Age of Guilt Manipulators by David Chilton

  • Tuition:         $275 Premier       OR         Tuition:      $25 Basic
  • Level:            10th Grade                           Level;         10th Grade
  • Mode:          Instructor                             Mode:        Self-taught
  • Offered:      Fall                                           Offered:   Fall or Spring
  • Textbook:    See Above                             Textbook:  See Above

Textbook & Course Materials

Required Text: “Productive Christians In An Age of Guilt Manipulators” by David Chilton.

Course Requirements

  • Internet connection (DSL, LAN, or cable connection desirable)
  • Desktop or laptop computer

Course Structure

  • The course is delivered in 16 weeks, divided into 6 units corresponding  to 6 historical eras in the development of economic theory: Biblical, Ancient I, Ancient II, Classical, Anti-Capitalist, and Austrian/Chicago.
  • Each unit consists of reading the lesson & online readings, reading in  Chilton, lectures, section quizzes, a term project and a final exam. The  instructor is available from Noon until 6 p.m. EST on the Piazza learning platform to answer questions and/or interact with groups of students.

Part 2: Student Learning Outcomes

At the conclusion of the course the student will be able to

1) Articulate the Biblical theory of economics
2) Compare and contrast Aristotelian economic theory with that of the Bible.
3) Discuss the fall of the Roman Empire in terms of basic economic theory.
4) List the strengths and weaknesses of the early church fathers’ economic theory and its social implications.
5) Describe the ways in which the Reformers economic theory differed from the Scholastics.
6) Analyze the distinguishing characteristic of the Physiocrats
7) Name 3 cardinal principles of classical economics
8) Critique 3 of Marx’s criticisms of capitalism
9) Identify which of the 10 points of the Communist Manifesto have been implemented in modern America
10) Compare & contrast Keynesian economics & Austrian economics
11) Compare & contrast the Chicago School and the Austrian School of economics
12) Complete Term Project: Stuff They Don’t Teach You In School: How to Invest In Real Estate With No Money Down

Student will meet the objectives listed above through a combination of the following  activities in this course:

  • Attendance and participation in the student class forum
  •  Study of online lessons and readings
  •  Completion of written Learning Outcome essays
  •  Reading in “Productive Christians In An Age of Guilt Manipulators”
  •  Successful completion of quizzes and final exam
  •  Completion of the Term Project

Part 3: Topic Outline/Schedule

UNIT I: What is Biblical Economics

Assignment Week 1): Read the online Lesson, then watch “Economics For Everybody – R.C. Sproul, Jr.”                            Read “Productive Christians”: Introduction

Part I: Biblical Law & the Sider Thesis, Biblical Law & Christian Economics,   God’s Blueprint: Biblical Law, Law & the New Testament, God’s Law &  Economics 

Take the unit quizzes. Review requirements for the Term Project and begin watching some of the videos. Answer questions 1 and 2 in the Learning Outcomes  section in a 3-4 paragraph (about 1 page) short essay and submit to parents to mark  as complete after doctrinal review.

UNIT II: The Ancients I – Creation to Augustine

Assignment Week 2): Read the online Lesson (Satan’s Economics, Plato &  Aristotle) and online links then watch the lecture: Ancient Economics – Aristotle.    Read “Productive Christians”: The Teaching of Christ.

Assignment Week 3): Read the online Lesson (The Roman Empire) & online links, then watch the lecture: The Roman Economy – An Introduction. Read “Productive Christians”: The Teaching of the Apostles.

Assignment Week 4): Read the Lesson (Augustine) & online links, then watch the  lecture: God vs. Wealth, Pt. 4.              Read “Productive Christians”: God’s Law & the Poor, Is God On the Side of the Poor?
Take the unit quizzes. Answer questions 3 and 4 in the Learning Outcomes section in a 3-4 paragraph (about 1 page) short essay and submit to parents to mark as  complete after doctrinal review.

UNIT III: The Ancients II: Scholastics to the Physiocrats

Assignment Week 5):  Read the Lesson (Medieval Economic Thought — 500 AD  to 1400 AD) & online links, then watch the lecture: Trade & Economics In The  Middle Ages. Read “Productive Christians”: Property

Assignment Week 6): Read the Lesson (The Reformers & the Mercantilists –1517 to 1750) & online links, then watch the lecture: Mercantilism – The Economics of Absolutism. Read “Productive Christians”: Work & dominion,

Assignment Week 7):  Read the Lesson (The Physiocrats – 1640 to 1776) & online links, then watch the lecture: The Physiocrats (In Our Time). Read “Productive Christians”: The Goal of Equality. Take the Unit Quiz. Start Term Project, Action Steps.
Take the Unit Quizzes. Answer questions 5 and 6 in the Learning Outcomes section in a 3-4 paragraph (about 1 page) short essay and submit to parents to mark as complete after doctrinal review.

UNIT IV: The Classical School of Economics

Assignment Week 8): Read the Lesson (pp. 1-4, starting with Adam Smith,1723- 1790, The System Builder) & online links, then watch the lecture: Six Key Lessons From Classical Economics. Read “Productive Christians”: Exchange,

Assignment Week 9): Read the Lesson (pp. 5-7, starting with What Is Natural Theology?) & online links, then watch the lecture: Macro Economics – The Classical Model. Read “Productive Christians”: Tariffs,

Assignment Week 10): Read the Lesson (pp. 7-11, starting with Other Classical Economists) & online links, then watch the lecture: Why Is the Wealth of Nations So Important – Adam Smith & Classical Economics. Read “Productive Christians”: Advertising & the Slave Mentality.
Take the Unit Quizzes. Answer questions 7 in the Learning Outcomes section in a 3-4 paragraph (about 1 page) short essay and submit to parents to mark as complete after doctrinal review.

UNIT V: The Anti-Capitalists

Assignment Week 11): Read the Lesson (pp. 1-3, starting with The Anti-Capitalists)  & online links, then watch the lecture: Political Theory – Karl Marx. Read “Productive Christians”: Marxism, God’s Law & the State

Assignment Week 12): Read the Lesson (pp. 4-8, starting with Karl Marx, 1818 to 1883, The Communist) & online links, then watch the lecture: Karl Marx Rebuttal –Debunking Marxism From the School of Life. Read “Productive Christians”: Direct Foreign Aid, The Jubilee Principle.

Assignment Week 13): Read the Lesson (pp. 9-15, starting with A critique of Marxism) & online links, then watch the lecture: Heaven On Earth – Robert Owen. Read “Productive Christians”: Statism, Preparing the Church For Slavery
Take the Unit Quiz. Answer questions 8 and 9 in the Learning Outcomes section in a 3-4 paragraph (about 1-page) short essay and submit to parents to mark ascomplete after doctrinal review

UNIT VI: The Austrians & the Chicago School

Assignment Week 14): Read the Lesson (pp. 1-4, starting with The Austrians –Austrian Roots) & online links, then watch the lecture: Austrian Economics In One Minute. Read “Productive Christians”: Money.

Assignment Week 15): Read the Lesson (pp. 5-8, starting with The Austrians) & online links, then watch the lecture: The Austrian School vs. The Chicago School. Read “Productive Christians”: The Basis For Economic Growth,

Assignment Week 16) : Read the Lesson (pp 9-11, starting with Other Austrian  Contributors) & online links, then watch the lecture: The Methodology of the Austrian School of Economics. Read “Productive Christians”: The Goal of Equality,Take the Final Exam and complete the Term Project. Answer questions 10 and 11 in the Learning Outcomes section in a 3-4 paragraph (about 1-page) short essay and submit to parents to mark as complete after doctrinal review.

Part 4: Grading Policy

Graded Course Activities
The course grade is determined as follows

The course grade is determined as follows

Participation in discussion


Reading Lessons,Text  & Online Links

Section quizzes

6% (6 x 1pts)

36% (12 x 3pts)

Parent Approval Written Objectives

Final Exam

Term Project

6%(6 x 1pts)





Late Work Policy: Be sure to pay close attention to deadlines—there will be no make up assignments or quizzes, or late work accepted without a serious and compelling reason and instructor approval.
Your instructor will update the online grades each time a grading session has been complete—typically 2 days following the completion of an activity. You will see a visual indication of new grades posted in Moodle.

Letter Grade Assignment

Final grades assigned for this course will be based on the percentage of total
points earned and are assigned as follows:

Letter Grade Percentage Performance

Letter Grade





Excellent Work



Nearly Excellent



Very Good Work



Good Work



Mostly Good Work



Above Average Work



Average Work



Mostly Average Work



Below Average Work



Poor Work



Failing Work

Part 5: Course Policies


Instructor will be using a tracking tool, discussions, chat sessions, and group  work, to monitor your participation in the course.

Build Rapport

If you find that you have any trouble keeping up with assignments or  other aspects of the course, make sure you let your instructor know as early  as possible. As you will find, building rapport and effective relationships are  key to becoming an effective professional. Make sure that you are proactive in  informing your instructor when difficulties arise during the semester so that  they can help you find a solution.

Complete Assignments

  • Assignments must be submitted by the given deadline or special  permission must be requested from instructor before the due date. Extensions  will not be given beyond the next assignment except under extreme  circumstances.
  • All discussion assignments must be completed by the assignment due  date and time. Late or missing discussion assignments will affect the student’s  grade.

Understand When You May Drop This Course

It is the student’s responsibility to understand when they need to   consider disenrolling from a course. After this period, a serious and    compelling reason is required to drop from the course.

Incomplete Policy

Under emergency/special circumstances, students may petition for an   incomplete grade. Inform Your Instructor of Any Accommodations Needed 

 Commit to Integrity

 As a student in this course (and at this Academy) you are expected to   maintain high degrees of professionalism, commitment to active learning and   participation in this class and also integrity in your behavior in and out of the  classroom.

Academic Dishonesty Policy

Academic dishonesty includes such things as cheating, inventing false information or citations, plagiarism and helping someone else commit an act  of academic dishonesty. It usually involves an attempt by a student to show  possession of a level of knowledge or skill that he/she does not possess.

Course instructors have the initial responsibility for detecting and dealing with academic dishonesty. Instructors who believe that an act of academic dishonesty has occurred are obligated to discuss the matter with the  student(s) involved. Instructors should possess reasonable evidence of academic dishonesty. However, if circumstances prevent consultation with student(s), instructors may take whatever action (subject to student appeal) they deem appropriate.

Instructors who are convinced by the evidence that a student is guilty of academic dishonesty shall assign an appropriate academic penalty. If the instructors believe that the academic dishonesty reflects on the student’s academic performance or the academic integrity in a course, the student’s grade should be adversely affected. Suggested guidelines for appropriate actions are: an oral reprimand in cases where there is reasonable doubt that the student knew his/her action constituted academic dishonesty; a failing grade on the particular paper, project or examination where the act of dishonesty was unpremeditated, or where there were significant mitigating circumstances; a failing grade in the course where the dishonesty was premeditated or planned. The instructors will file incident reports with the Vice Presidents for Academic Affairs and for Student Affairs or their designees. These reports shall include a description of the alleged incident of academic dishonesty, any relevant documentation, and any recommendations for action that he/she deems appropriate.