April 15, 2024
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Linking Northern and Central NJ, Bronx, Manhattan, Westchester and CT

RKYHS AP Economics Class Studies Circular Flow in Economics

As Congress debated the largest change to our tax laws in a generation, students in AP Macroeconomics at RKYHS learned about the Circular Flow Model of the economy and its relationship to calculating Gross Domestic Product. Students explored their dual roles in the economy as both producers and consumers, and learned about the concepts of creative destruction and adding value which occurs when businesses transform resources to create a product whose value is more than the sum of its parts.

Steven Covey, in his work “The 7 Habits of Highly Effective People,” argues that the most important force in the universe is synergy. The concept of synergy well defines the RKYHS experience where the school is so much more than the sum of its parts. Through the study of economics, RKYHS teaches students to be able to work synergistically with others and to add value to their own lives and the lives of others.

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