This course will look closely at basic economic concepts and their role in the analysis of public and private economic decisions. Students will develop an understanding of long-term trends and short-term fluctuations in key economic indicators, such as gross domestic product, deficits, inflation, consumer confidence, and unemployment. An emphasis will be placed on the application of those concepts to public policy issues, such as those related to the environment, poverty, and economic development. Finally, the course will examine alternative economic models, including Islamic economics, by taking a critical look at conventional notions of banking, including usurious lending practices, fractional reserve banking, and problems associated with GDP-based money. It will examine the limitations of markets in dealing with issues such as income inequality, unsustainable resource use, and anti-competitive firm practices. Islamic economists are particularly critical of both the assumptions on which much conventional economics is based and its policy prescriptions. Instead of focusing exclusively on utility-maximizing individuals, Islamic economists emphasize the collective moral obligations necessary to fulfill issues of social justice.